First Farmers and Merchants Corporation Declares Quarterly Cash Dividend of $0.23 Per Share

Rhea-AI Summary

First Farmers and Merchants Corporation (OTC Pink: FFMH) has declared a quarterly cash dividend of $0.23 per share, to be paid on April 17, 2023, for shareholders on record as of April 3, 2023. This dividend marks a 9.5% increase compared to last year's payout during the same period. As of December 31, 2022, the company reported total assets of approximately $1.9 billion and total shareholders’ equity of around $97 million. First Farmers operates 22 offices in seven Middle Tennessee counties, highlighting its robust community presence.

Positive

• Declaration of a quarterly cash dividend of $0.23 per share.
• 9.5% increase in dividend compared to the same period last year.
• Total assets reported at approximately $1.9 billion.

Negative

• None.

COLUMBIA, Tenn.--(BUSINESS WIRE)-- First Farmers and Merchants Corporation (OTC Pink: FFMH), the holding company for First Farmers and Merchants Bank, today announced that its Board of Directors has declared the Company’s regular quarterly cash dividend of $0.23 per share, which will be paid on April 17, 2023, to shareholders of record as of April 3, 2023. The dividend represents a 9.5% increase compared with the cash dividend paid during the same period last year.

About First Farmers and Merchants Corporation and First Farmers and Merchants Bank

First Farmers and Merchants Corporation is the holding company for First Farmers and Merchants Bank, a community bank serving the Middle Tennessee area through 22 offices in seven Middle Tennessee counties. As of December 31, 2022, First Farmers reported total assets of approximately $1.9 billion, total shareholders’ equity of approximately $97 million, and administered trust assets of $5.7 billion. For more information about First Farmers, visit us on the Web at www.myfirstfarmers.com under “Investor Relations.”

View source version on businesswire.com: https://www.businesswire.com/news/home/20230321005794/en/

Robert E. Krimmel

Chief Financial Officer

(931) 380-8257

Source: First Farmers and Merchants Corporation

FAQ

What is the dividend amount declared by First Farmers and Merchants Corporation?

The declared dividend amount is $0.23 per share.

When will the dividend for FFMH be paid?

The dividend will be paid on April 17, 2023.

What is the record date for the FFMH dividend?

The record date for the dividend is April 3, 2023.

How does the current dividend compare to last year's?

The current dividend represents a 9.5% increase compared to last year.

What are the total assets of First Farmers and Merchants Corporation?

The company reported total assets of approximately $1.9 billion as of December 31, 2022.