Welcome to our dedicated page for First Farmers news (Ticker: FFMH), a resource for investors and traders seeking the latest updates and insights on First Farmers stock.
First Farmers and Merchants Corporation reports recurring financial and corporate updates as the holding company for First Farmers and Merchants Bank, a community bank serving Middle Tennessee. News commonly covers quarterly earnings, net interest margin, loan and deposit trends, book value, liquidity and capital measures, and activity in wealth management and trust services.
Company releases also include quarterly cash dividend declarations, annual shareholder meeting results, director elections, auditor ratification, executive finance leadership changes, and growth initiatives such as loan and deposit production offices and business banking team expansion.
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported record net income of $5.5 million for Q2 2021, a 36.3% increase from $4.0 million in Q2 2020. Earnings per share rose 37.0% to $1.26. Adjusted net income also increased by 13.7% to $3.9 million. Notably, a one-time gain of $1.3 million was recorded from the sale of Visa Class B stock. Total deposits increased by 5.5% to $1.7 billion. The company experienced loan growth of 2% this quarter, highlighting a positive trend in banking and credit metrics.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has declared a quarterly cash dividend of $0.21 per share, payable on July 15, 2021, to shareholders on record as of July 1, 2021. As of March 31, 2021, the company reported total assets of approximately $1.9 billion and total shareholders’ equity of about $152 million. First Farmers operates 22 community bank offices across seven counties in Middle Tennessee, furthering its commitment to serve the region effectively.
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported unaudited financial results for Q1 2021, highlighting a net income of $3.0 million, down 6% year-over-year. Adjusted net income rose 12% to $2.9 million. Mortgage banking revenue surged 66% to $468,000, contributing to record total assets of $1.9 billion and deposits of $1.7 billion. However, elevated employee benefits and technology expenses impacted earnings. Nonperforming assets improved to 0.08% of total assets. The company also repurchased 930 shares, with ongoing buyback authorization for 199,000 shares.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has announced a quarterly cash dividend of $0.21 per share, payable on April 15, 2021, to shareholders of record as of April 1, 2021. The bank, serving the Middle Tennessee area, reported total assets of approximately $1.8 billion and total shareholders’ equity of about $160 million as of December 31, 2020. This dividend reflects the company's ongoing commitment to return value to its shareholders.
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported unaudited financial results for 2020, revealing a net income of $14.2 million, a 12% decline from the previous year. Adjusted net income fell to $13.0 million, down 7%. Total assets reached a record $1.8 billion, with deposits also hitting an all-time high of $1.6 billion. Mortgage banking revenue increased by 22%, while net interest income improved slightly. Despite challenges from the COVID-19 pandemic, asset quality remained strong with low nonperforming assets.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has declared a regular quarterly cash dividend of $0.21 per share, payable on January 15, 2021, to shareholders of record as of January 1, 2021. The Corporation, serving the Middle Tennessee area through 22 offices, reported total assets of approximately $1.7 billion and total shareholders' equity of around $158 million as of September 30, 2020.