First Farmer & Merchants Net Income Growth

First Farmers and Merchants Corporation the holding company for First Farmers and Merchants Bank, announced growth in net income, net interest income, net interest margin and book value per share for the third quarter of 2024.

Net income rose 18.4% to $4.0 million and earnings per share increased 22.8% to $0.97. Our book value also jumped 50.6% to $35.56 per share.

The Board of Directors recently increased the quarterly cash dividend by 12.5% to $0.27 per share highlighting the favorable earnings results, strong capital position and positive outlook for First Farmers’ future performance.