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Fentura Financial, Inc. (FETM), the holding company for The State Bank, provides comprehensive banking services across Michigan. This page offers timely updates on financial performance, strategic initiatives, and community-focused developments for investors and stakeholders.
Access centralized news coverage including earnings reports, leadership updates, product launches, and regulatory filings. Track FETM's commitment to community banking through partnership announcements and service expansions.
Key updates cover commercial lending activities, wealth management innovations, and digital banking enhancements. Stay informed on how FETM balances traditional values with modern financial solutions for individuals and businesses.
Bookmark this page for reliable updates on one of Michigan's established community banks. Check back regularly for objective reporting on FETM's evolving role in regional financial services.
Fentura Financial (OTCQX: FETM) reported strong financial results for 2022, with a net income of $14.9 million and a 19.6% increase in total assets, reaching $1.69 billion. Net interest income surged 18.7% to a record $52.5 million, supported by a 30.5% growth in gross loans. The company maintained a solid asset quality, with nonperforming loans at 0.16% of gross loans. Despite challenges such as increased loan loss provisions and decreased noninterest income due to a drop in mortgage sales, the CEO expressed confidence in sustaining profitability and asset quality in 2023.
Fentura Financial, Inc. (OTCQX: FETM) has declared a regular dividend of $0.10 per share for shareholders as of February 6, 2023, with payment scheduled for February 13, 2023. The company, formed in 1987, operates The State Bank, recognized as a 5-Star Bauer Financial rated institution. It provides various banking services through 19 branches in Michigan. Fentura Financial is noted as one of the Top 50 performing stocks on the OTCQX exchange, showcasing its market viability and commitment to shareholder returns.
Fentura Financial (OTCQX: FETM) reported third-quarter net income of $4,009 thousand, with a 20.16% year-over-year decline in nine-month net income to $10,569 thousand. The company experienced strong balance sheet growth, leading to an increase in net interest income to $13,988 thousand. However, reduced gains on mortgage sales and higher provisions for loan losses impacted results. While loan demand remains strong, management acknowledges potential economic slowdowns.
Fentura Financial, Inc. (OTCQX: FETM) has declared a regular dividend of $0.09 per share for shareholders of record on November 7, 2022, payable on November 14, 2022. Founded in 1987, Fentura operates as a holding company for The State Bank, recognized among the Top 50 performing stocks on the OTCQX exchange. The State Bank provides a comprehensive range of banking services across 19 branches in Michigan's various counties.
Fentura Financial announced the appointment of three new Board Members for both Fentura Financial, Inc. and The State Bank on August 26, 2022. The new members include Mark Bole, Kristen Holt, and Debra Williams, each bringing significant industry experience and community involvement. Bole is currently the Global Chief Administrative Officer for GM Financial, Holt leads GreenPath Financial Wellness, and Williams is COO of Neighborhood Service Organization. This strategic leadership change aims to enhance the company’s growth and mission in providing financial services.
Fentura Financial (OTCQX: FETM) reported solid Q2 2022 results with a net income of $3,476,000 and $6,560,000 for the quarter and six months ended June 30, 2022, respectively. The company achieved an 8.21% increase in loans, totaling $93.5 million, amid a challenging market. Interest income rose to $13,411,000, while expenses increased to $10,544,000. Notably, the provision for loan losses rose to $525,000, impacting profitability. Despite these challenges, the company maintains a strong loan pipeline and a commitment to boost client relationships.
