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First Farmers Financial Corp. reports developments for its role as the financial holding company for First Farmers Bank & Trust, an Indiana-based bank with offices across multiple Indiana counties and in Illinois. Company updates commonly cover board-approved cash dividends, common stock repurchase authorizations, stock split actions, share-count effects, and OTCQX-Banks trading information.
Recurring releases also describe the bank's regional office footprint and the holding company's capital-management actions, including dividend declarations, buyback programs, and stock dividends affecting common shareholders.
First Farmers Financial Corp. (FFMR) announced a stock repurchase plan to buy back up to $2 million of its outstanding common stock. The initiative is aimed at enhancing shareholder value, with repurchases dependent on market conditions and company discretion. The plan will utilize current working capital and may be adjusted as needed. As of June 30, 2021, FFMR had 7,049,996 common shares outstanding, and the company operates as a financial holding entity with significant regional presence across Indiana and parts of Illinois.
First Farmers Financial Corp. (OTCQX; FFMR) announced a quarterly cash dividend of $0.34 per share, marking a 6.3% increase from last year's $0.32. The dividend is payable on July 15, 2021 to shareholders of record by June 30, 2021. This reflects the company's strong financial position as it manages a portfolio of $2.3 billion. First Farmers Bank & Trust operates across multiple counties in Indiana and Illinois, reinforcing its footprint in the regional market.
First Farmers Financial Corp. (OTCQX:FFMR) appointed Jennifer E. Jones and Roland K. Winger as new Board Directors during its 2021 annual shareholders meeting on May 11, 2021. Both directors bring extensive business and civic experience that aims to enhance the company's service to customers and communities. Dr. Mark Holt, President and CEO, noted their skills will bolster the organization’s growth and community engagement. First Farmers Financial Corp. operates a $2.3 billion financial holding company across multiple counties in Indiana and Illinois.
First Farmers Financial Corp (OTCQX:FFMR) has announced a stock repurchase program allowing the buyback of up to $2 million in common stock. This marks the 14th buyback since October 2017, reflecting ongoing capital management efforts. The decision is based on market conditions and will be funded from available working capital. As of March 31, 2021, FFMR had 7,079,351 shares outstanding. The program can be adjusted or suspended at management's discretion to align with the company's financial strategy.
Gene Miles has retired as CEO of First Farmers Bank & Trust as of March 31, 2021, after over 41 years of service. His leadership led to significant growth, transitioning the bank from three locations and $44 million in assets to a $2.2 billion financial holding company. Miles will remain as President and CEO of First Farmers Financial Corporation (FFMR), while Mark 'Doc' Holt takes over as the bank's new CEO. Miles has received multiple awards, including the Bruning Award for agricultural banking.
First Farmers Financial Corp. (FFMR) has declared a quarterly cash dividend of $0.33 per share, marking a 3.1% increase from the $0.32 dividend last year. The dividend is payable on April 15, 2021, to shareholders recorded as of March 31, 2021. The company, with assets totaling $2.2 billion, operates through its bank, which serves multiple counties in Indiana and parts of Illinois.
First Farmers Financial Corp. (OTCQX: FFMR) announced the opening of a new bank branch in Cicero, Indiana, set for early December 2020, pending regulatory approval. The 2,500 square foot facility, previously owned by another bank, will employ at least 5 full-time staff and will offer comprehensive banking services including deposit and lending capabilities, alongside a drive-up and ATM access. This location represents the only banking facility in Cicero, targeting to enhance client service and expand market presence in the community.