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First Farmers & Merchants Co (FFMH) is a distinguished financial institution headquartered in Tennessee, dedicated to serving the diverse financial needs of its community members. The company's mission is to be a leader in providing unique services and products that aid customers in achieving their financial goals. With a vision to become the premier community bank in Tennessee, First Farmers & Merchants Co is committed to offering high-quality services while fostering the well-being of its employees, promoting economic vitality, and ensuring profitable returns for shareholders.
Core Services and Products:
- Personal Banking: The bank offers a wide range of personal banking solutions including savings accounts, checking accounts, loans, and credit cards tailored to meet individual financial needs.
- Business Banking: Catering to small and medium-sized enterprises, First Farmers & Merchants Co provides business accounts, loans, merchant services, and more to support business growth and sustainability.
- Wealth Management: The company offers wealth management services, including investment advice, estate planning, and retirement planning to help clients secure their financial future.
Recent Achievements and Projects:
- First Farmers & Merchants Co has recently launched a new mobile banking app, enhancing customer convenience by providing easy access to banking services on the go.
- The bank has also formed strategic partnerships with local businesses to foster economic growth within the community.
- Continued investment in advanced cybersecurity measures ensures the safety and security of customer data.
Financially, First Farmers & Merchants Co remains robust, consistently delivering profitable returns to its shareholders. The bank's commitment to integrity, customer focus, teamwork, community service, and initiative drives its operations and community engagement efforts. By staying true to its core values, First Farmers & Merchants Co continues to thrive as a cornerstone of the local financial landscape.
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First Farmers and Merchants Corporation (FFMH) announced the appointment of Jill A. Giles as the Chief Financial Officer of First Farmers and Merchants Bank. Giles has been with the bank since 2013 and previously served as the Chief Accounting Officer. In her new role, she will oversee financial reporting, budgeting, tax and regulatory reporting, and shareholder services, among other responsibilities.
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First Farmers and Merchants Corporation (FFMH) announced the appointment of Rory A. Mallard as the Chief Banking Officer. Mallard has played a significant role in the bank's commercial lending and deposit growth and will now oversee the strategic direction, growth, delivery, profitability, and overall performance of the commercial, treasury management, and retail banking business lines.
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First Farmers and Merchants Corporation (FFMH) announced the appointment of Robert E. Krimmel as the Chief Administrative Officer while continuing as the Chief Financial Officer. Krimmel's new role will involve overseeing major support functions of the bank, strategic planning, regulatory compliance, and executive leadership.
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First Farmers and Merchants Corporation (FFMH) announces a 4.3% increase in regular quarterly cash dividend to $0.24 per share
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First Farmers and Merchants Corporation (FFMH) announced the appointment of Jennifer J. McConnell as Chief Credit Officer. McConnell brings 27 years of banking experience, including leadership in credit risk management, portfolio management, and relationship management. She joins from BankUnited, where she served as Executive Vice President, Managing Senior Credit Officer. Prior to that, she held senior roles at First Tennessee Bank, Fifth Third Bank, and Regions Bank. McConnell's appointment is expected to strengthen First Farmers' credit culture and business banking initiatives.
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First Farmers and Merchants Corporation announces its results for the third quarter of 2023, reporting growth in loans and deposits. However, net income decreased due to higher interest costs. The company remains positive about its outlook for the future.
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First Farmers and Merchants Corporation announces the appointment of Ernest Anye as its Information Security Officer.
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First Farmers and Merchants Corporation declares regular quarterly cash dividend of $0.24 per share, representing a 4.3% increase compared to last year's dividend.
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First Farmers and Merchants Bank received the C.A.R.E. award from the Tennessee Area Council of Boys & Girls Clubs. They increased their corporate giving to Boys & Girls Clubs of South Central Tennessee by 250% to $25,000 per year for the next four years. This increased sponsorship is expected to support their programs and provide more financial aid and scholarships to families in need.
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First Farmers and Merchants Corporation reports double digit growth in net income for the second quarter of 2023. Net income rose 11% to $5 million compared to the second quarter of 2022. Adjusted net income increased 15% to $5.1 million. Net interest income increased 3.5% to $12.1 million. Total deposits decreased by $119 million. Efficiency improved to 58.04%. Provision credit for credit losses was $260,000. Total nonperforming assets dropped to $803,000.
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FAQ
What is the current stock price of FIRST FMRS & MERCHANTS CO (FFMH)?
The current stock price of FIRST FMRS & MERCHANTS CO (FFMH) is $35.25 as of December 20, 2024.
What is the market cap of FIRST FMRS & MERCHANTS CO (FFMH)?
The market cap of FIRST FMRS & MERCHANTS CO (FFMH) is approximately 146.3M.
What services does First Farmers & Merchants Co offer?
First Farmers & Merchants Co offers personal banking, business banking, and wealth management services.
Where is First Farmers & Merchants Co headquartered?
First Farmers & Merchants Co is headquartered in Tennessee.
What is the mission of First Farmers & Merchants Co?
The mission is to provide distinctive services and products to meet the financial needs and goals of customers in each community.
What recent achievements has First Farmers & Merchants Co accomplished?
Recent achievements include the launch of a new mobile banking app, strategic partnerships, and investment in advanced cybersecurity measures.
What are the core values of First Farmers & Merchants Co?
The core values are integrity, customer focus, teamwork, community service, and initiative.
What is the vision of First Farmers & Merchants Co?
The vision is to be the premier community bank in Tennessee, recognized for high-quality services and products.
How does First Farmers & Merchants Co ensure data security?
The bank continually invests in advanced cybersecurity measures to ensure the safety and security of customer data.
How does First Farmers & Merchants Co support the community?
The bank promotes economic vitality through strategic partnerships, community service, and by offering tailored financial products.
What types of personal banking products are available?
Products include savings accounts, checking accounts, loans, and credit cards.
How does First Farmers & Merchants Co support businesses?
The bank offers business accounts, loans, and merchant services to support small and medium-sized enterprises.
FIRST FMRS & MERCHANTS CO