First Farmers Financial Corp. Announces Common Stock Buyback Program

Rhea-AI Summary

First Farmers Financial Corp. (OTCQX:FFMR) has announced its twenty-first stock buyback program since 2017. The Board of Directors has approved a plan to repurchase up to $4 million of the 's outstanding common stock on the open market.

The $3.3 billion financial holding company, headquartered in Converse, Indiana, will fund the program from current available working capital. Management has discretion over the timing, price, and quantity of purchases, which may be discontinued, suspended, or restarted at any time. As of March 31, 2025, the had 6,999,207 common shares outstanding.

First Farmers Bank & Trust operates throughout multiple counties in Indiana and Illinois, with the buyback program aimed at providing capital management opportunities and enhancing shareholder value based on market and business conditions.

Positive

• Twenty-first consecutive buyback program since 2017 demonstrates consistent shareholder return strategy
• $4 million stock repurchase program shows commitment to returning capital to shareholders
• Strong financial position with $3.3 billion in assets

Negative

• Buyback reduces working capital available for business operations and growth
• Discretionary nature of program timing and execution provides no guarantee of completion

Twenty-first repurchase program for the corporation since 2017.

Converse, IN, April 15, 2025 (GLOBE NEWSWIRE) -- Converse, Indiana, April 15, 2025 -- First Farmers Financial Corp. (OTCQX:FFMR), announced that the Board of Directors has approved a plan to repurchase up to $4 million in the Corporation’s outstanding common stock on the open market.

 The timing, price, and quantity of purchases under the stock repurchase plan will be at the discretion of management and may be discontinued, suspended, or restarted at any time.  The program will be funded from current available working capital.  The board feels the stock repurchase plan will provide capital management opportunities and add value for the Company’s shareholders depending upon market and business conditions.

 First Farmers Financial Corp is a $3.3 billion financial holding company headquartered in Converse, Indiana.  First Farmers Bank & Trust has offices throughout Carroll, Cass, Clay, Grant, Hamilton, Howard, Huntington, Madison, Marshall, Miami, Starke, Sullivan, Tippecanoe, Tipton, Vigo and Wabash counties in Indiana and offices in Coles, Edgar and Vermilion counties in Illinois.  As of March 31, 2025, the Corporation had 6,999,207 common shares outstanding.

Tade J Powell
First Farmers Financial Corporation
765-293-4162
tade.powell@ffbt.com

FAQ

How much is First Farmers Financial Corp. (FFMR) planning to spend on its new stock buyback program?

First Farmers Financial Corp. has approved a plan to repurchase up to $4 million of its outstanding common stock on the open market.

How many stock buyback programs has FFMR implemented since 2017?

This is First Farmers Financial Corp.'s twenty-first stock repurchase program since 2017.

What is the current number of outstanding shares for FFMR as of March 2025?

As of March 31, 2025, First Farmers Financial Corp. had 6,999,207 common shares outstanding.

How will FFMR fund its 2025 stock buyback program?

The program will be funded from First Farmers Financial Corp.'s current available working capital.

What is First Farmers Financial Corp.'s (FFMR) current asset size?

First Farmers Financial Corp. is a $3.3 billion financial holding company.