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 $0.21 per share, which will be paid on April 15, 2022, to shareholders of record as of April 1, 2022.
“Our cash dividend and stock repurchase programs are part of our strategy to build long-term shareholder value,” stated T. Randy Stevens, Chairman and Chief Executive Officer of First Farmers. “We are pleased that we have been able to continue our dividend program without any cuts throughout the pandemic while increasing our share repurchase program.”
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, 2021, First Farmers reported total assets of approximately $2.0 billion, total shareholders’ equity of approximately $159 million, and administered trust assets of $6.3 billion. For more information about First Farmers, visit us on the Web at www.myfirstfarmers.com under “Investor Relations.”