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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.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has announced a 9.5% increase in its quarterly cash dividend, raising it to
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported a net income of $4.5 million for Q2 2022, a 17.1% decline year-over-year due to a one-time $1.8 million gain from Visa stock in Q2 2021. Despite this, the company showcased 23% annualized loan growth and a 4.5% increase in net interest income to $11.7 million. Adjusted net income rose 13.8% to $4.5 million. Total deposits decreased 5.9% quarter-over-quarter but increased 10.9% year-over-year. The bank maintains a solid asset quality with nonperforming assets at 0.08%.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has declared a quarterly cash dividend of $0.21 per share. This dividend will be distributed on July 15, 2022, to shareholders on record as of July 1, 2022. As of March 31, 2022, the company reported total assets of approximately $2.1 billion and total shareholders’ equity of around $124 million.
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported a 22.6% increase in net income for Q1 2022, reaching $3.7 million compared to $3.0 million in Q1 2021. Net income per share surged 23.8% to $0.85. Total assets hit a record $2.1 billion, with deposits also reaching $2.0 billion, an 11.6% quarterly increase. Adjusted net income rose 31.6% to $3.8 million. Notably, nonperforming assets dropped to $1.0 million, reflecting improved loan quality. The company successfully launched its new digital banking platform and repurchased 466 shares under its plan.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has declared a quarterly cash dividend of $0.21 per share, payable on April 15, 2022, to shareholders of record as of April 1, 2022. The company's Chairman and CEO, T. Randy Stevens, emphasized the importance of the dividend and the expanded stock repurchase program in building long-term shareholder value. As of December 31, 2021, First Farmers reported total assets of approximately $2.0 billion and total shareholders' equity of $159 million.
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported a 10% rise in net income to $15.6 million for 2021, with adjusted net income up 14% at $14.8 million. Key metrics include a net income per share of $3.59, total assets reaching $2.0 billion, and deposits at $1.8 billion. The company also experienced significant growth in net interest income and trust services. However, the fourth quarter saw a 6.9% drop in net income compared to the previous year, attributed to one-time executive retirement expenses. The company plans new digital banking initiatives in 2022.
First Farmers and Merchants Corporation (OTC Pink: FFMH) announced its quarterly cash dividend of $0.21 per share, payable on January 14, 2022, to shareholders on record as of December 31, 2021. As of September 30, 2021, the company reported total assets of approximately $1.9 billion, total shareholders’ equity of about $161 million, and trust assets exceeding $6.2 billion.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has announced that Brian K. Williams, currently the Bank’s President, will succeed T. Randy Stevens as Chairman and CEO, effective January 1, 2022. Stevens will remain as Chairman of the Board and CEO of the Corporation. Under Stevens’ leadership, the bank’s assets grew from
First Farmers and Merchants Corporation (OTC Pink: FFMH) announced the retirement of Tim Pettus as Vice Chairman of First Farmers and Merchants Bank, effective December 31, 2021. Pettus has been with the company for 19 years, previously serving as President and contributing to significant growth and market expansion. He will remain Vice Chairman of the Company until the annual meeting in April 2022. Under his leadership, the Bank strengthened its market position and was recognized for building a strong sales culture.
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported a 10.6% increase in net income for Q3 2021, reaching $4.1 million. Adjusted net income rose 6.9% to $3.9 million, while net interest income grew 6.1% to $11.6 million. The company achieved record assets of $1.9 billion and deposits of $1.7 billion. Although net income dropped 25.7% from Q2 2021 due to a one-time gain last quarter, strong loan growth (excluding PPP loans) of 2.7% was noted. Stock repurchases increased 87.9% to 20,477 shares during the quarter.
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