FIRST FMRS & MERCHANTS CO - FFMH STOCK NEWS

First Farmers and Merchants (FFMH) reported strong third quarter 2024 results with net income rising 18.4% to $4.0 million and earnings per share increasing 22.8% to $0.97. The company's book value jumped 50.6% to $35.56 per share. Net interest income grew 13.5% to $11.4 million, while net interest margin improved for the third consecutive quarter to 2.55%. The Board increased quarterly cash dividend by 12.5% to $0.27 per share. The company reported its lowest level of nonperforming assets in over a year, with improved efficiency at 66.36%.

First Farmers and Merchants (OTC Pink: FFMH) has announced a 12.5% increase in its regular quarterly cash dividend. The new dividend of $0.27 per share, up from $0.24, will be paid on October 21, 2024, to shareholders of record as of October 7, 2024.

Brian K. Williams, Chairman and CEO of First Farmers, stated that this increase reflects the company's positive outlook and continued growth opportunities. He emphasized that the higher dividend demonstrates confidence in the company's trajectory and commitment to building long-term shareholder value. Williams also noted that First Farmers has strong fundamentals and has positioned its balance sheet to deliver improving net interest income in the coming quarters.

First Farmers and Merchants (OTC Pink: FFMH) reported second quarter 2024 results with mixed performance. Net income decreased 24.8% year-over-year to $3.8 million but increased 10.9% from the previous quarter. Key highlights include:

- Record loans of $1.054 billion, up 9.2% year-over-year
- Net interest margin improved to 2.48%
- Efficiency improved to 67.37% from 69.72% in Q1 2024
- Book value per share increased 20.1% year-over-year to $30.68
- Total stock repurchased increased 119.6% from Q1 2024

The company faced challenges from higher interest rates but remains optimistic about future performance based on loan pipeline and strategic balance sheet management.

First Farmers and Merchants (OTC Pink: FFMH) has declared its 100th cash dividend. The quarterly cash dividend of $0.24 per share, reflecting a 4.3% increase from the previous year, will be paid on July 22, 2024, to shareholders on record as of July 8, 2024. The milestone underscores the Board's commitment to consistent shareholder returns. First Farmers has been paying dividends since 1983 and shifted to quarterly payouts in 2016 to offer more frequent capital returns. CEO Brian K. Williams emphasized the importance of strong dividend payouts for long-term shareholder value and expressed optimism about the company's strategic direction and future earnings performance.

First Farmers and Merchants (OTC Pink: FFMH) announced the hiring of Teresa Matthews as Secondary Mortgage Operations Manager. Matthews brings over 20 years of experience in mortgage operations and secondary market management. She previously served as Mortgage Operations Manager and Senior VP at Lineage Bank. Her new role at First Farmers involves managing risk, quality assurance, and secondary markets. Matthews’ expertise is expected to contribute significantly to the bank's strategic goals.

First Farmers and Merchants , the holding company for First Farmers and Merchants Bank, reported its first-quarter 2024 results with positive growth in net interest income and non-interest income. Key highlights include a 16% increase in book value per share to $29.92, sequential quarterly improvement in net interest margin, and continued loan demand. However, net income decreased by 14.8% to $3.4 million, and adjusted net income declined by 23.9% to $3.4 million. Total loans decreased from the previous quarter, while net-interest income decreased by 13.1%. Provision for credit losses expense increased to $65,000. Non-performing assets declined, and capital management initiatives included stock repurchases.

First Farmers and Merchants (FFMH) recently held its Annual Meeting of Shareholders where shareholders elected a slate of 10 directors and ratified the selection of Plante & Moran, PLLC as the independent registered public accounting firm. Brian K. Williams, Chairman and CEO, highlighted record loans, strong growth in book value per share, and the second-best earnings per share performance in the company's history.

First Farmers and Merchants (FFMH) declares a quarterly cash dividend of $0.24 per share, a 4.3% increase from the previous year, payable on April 15, 2024.

First Farmers and Merchants Corporation (FFMH) reported record loans in 2023, with total loans surpassing $1 billion. Despite a challenging banking environment, the company saw strong growth in book value per share and recorded the third-best year of earnings in its history. However, net income and net income per share declined in 2023 compared to 2022. Total interest income increased by 18.6% to $60.8 million, while total interest expense increased by 406.2% to $16.4 million. Book value per share increased by 31.7% to $29.74 for the fourth quarter of 2023. First Farmers also increased total stock repurchases by 141.0% from 2022.