- First Farmers and Merchants Corporation (FFMH, Financial) shareholders re-elected nine directors for a one-year term.
- Plante & Moran, PLLC approved as the independent auditor for fiscal year 2025.
- FFMH reports strong financial growth in 2024, entering 2025 with positive momentum.
First Farmers and Merchants Corporation (OTC Pink: FFMH), the parent company of First Farmers and Merchants Bank, has successfully concluded its annual meeting where shareholders re-elected nine incumbent directors for another term. This decision comes as the company continues to showcase robust financial growth and stability.
The annual meeting also saw shareholders ratify the selection of Plante & Moran, PLLC as the independent registered public accounting firm for the fiscal year ending December 31, 2025. This move is a part of First Farmers' strategic initiatives to maintain transparency and accuracy in its financial dealings.
Brian K. Williams, Chairman and CEO of First Farmers, highlighted that strategic balance sheet initiatives throughout 2024 significantly reduced interest expenses and expanded net interest margins. The company experienced rising net interest income and earnings each quarter, culminating in the fourth quarter of 2024 reaching the highest quarterly earnings since Q2 of 2021. Williams expressed optimism about the company’s growth trajectory, citing a strong balance sheet with superior liquidity and capital levels as key enablers.
Looking ahead to 2025, First Farmers (FFMH, Financial) is poised for continued growth, supported by its strong earnings potential and a well-aligned risk profile. The company remains committed to strategic growth objectives that promise sustained positive outcomes in the coming fiscal year.
