FENTURA FINANCIAL INC - FETM STOCK NEWS

Fentura Financial (OTCQX: FETM) reported Q3 2024 net income of $867,000, down from $3,775,000 in Q3 2023. The company announced record total assets of $1.81 billion, with deposits reaching $1.47 billion. Net interest margin decreased to 2.80% from 3.05% year-over-year. Key financial metrics include total loans of $1.44 billion and shareholders' equity of $146.4 million. The company announced a merger with ChoiceOne Financial Services, expected to close in Q1 2025, creating Michigan's third-largest publicly traded bank with approximately $4.3 billion in consolidated assets and 56 offices.

Fentura Financial (OTCQX: FETM) has declared a quarterly dividend of $0.11 per share. The dividend will be paid on November 12, 2024, to shareholders of record as of November 4, 2024.

Fentura Financial (OTCQX: FETM) has declared a quarterly dividend of $0.11 per share. This dividend will be paid to shareholders who are on record as of August 5, 2024, with the payment scheduled for August 12, 2024. The announcement of this regular dividend demonstrates Fentura Financial's commitment to providing consistent returns to its shareholders. As a financial institution trading on the OTCQX market, this dividend declaration may be seen as a positive signal of the company's financial health and its ability to generate cash flow for investor returns.

ChoiceOne Financial Services, Inc. (NASDAQ: COFS) and Fentura Financial, Inc. (OTCQX: FETM) have announced a definitive merger agreement in an all-stock transaction. The merger will create the third largest publicly traded bank in Michigan with approximately $4.3 billion in consolidated total assets and 56 offices across Western, Central, and Southeastern Michigan. Each Fentura share will be converted into 1.35 ChoiceOne shares, valuing the transaction at $180.4 million. The merger is expected to close in Q1 2025, subject to shareholder and regulatory approvals. The combined entity will strengthen ChoiceOne's presence in Detroit's suburbs and add markets in Flint and Saginaw. Both companies emphasize their shared commitment to customer service and community engagement.

Fentura Financial (OTCQX: FETM) reported second quarter 2024 net income of $1,980K and first half 2024 net income of $4,770K. Total deposits increased by 3.4%, and borrowed funds decreased by 11.0% compared to the prior year. The company maintained strong asset quality with a tangible book value increase of 9.9% year-over-year to a record $29.84 per share. However, the quarterly net income fell from $3,226K in Q2 2023 to $1,980K in Q2 2024. Return on average assets is down to 0.45% compared to 0.76% a year ago. Despite these challenges, the company highlighted the stability in gross loans and the increase in total assets to $1,756,629K.

Fentura Financial, Inc. (FETM) announces quarterly net income of $2,790 for the three months ended March 31, 2024. The company experienced challenges due to high short-term interest rates and a yield curve inversion. Despite this, they achieved record total assets and shareholders' equity. Tangible book value per share increased by 10.3% to $29.38. The company reduced borrowings by $80.6 million and increased cash by $12.1 million over the past year.

Fentura Financial, Inc. (OTCQX: FETM) declared a quarterly dividend of $0.11 per share for shareholders on record as of May 6, 2024, payable on May 13, 2024.

Fentura Financial, Inc. held its 2024 Annual Meeting of Shareholders on April 24, 2024, with various proposals voted on. The Company's Proxy Statement outlined the details sent to shareholders prior to the meeting.

Fentura Financial, Inc. (OTCQX: FETM) reported net income of $3,784 and $14,629 for the quarter and year ended December 31, 2023, respectively. The company experienced higher interest expenses due to a rapid increase in interest rates, impacting its cost of funds and reducing net interest income. Despite this, 2023 was a solid year of profitability, with a 10% year-over-year increase in total shareholders' equity, reaching a record $138.7 million at December 31, 2023. The company plans to make strategic investments in expanding wealth and treasury management capabilities in 2024.