Kokomo Tribune; Kokomo, Indiana

Business

November 17, 2013

First Farmers announces stock split

First Farmers Financial Corporation, parent company of First Farmers Bank & Trust, announced record third quarter earnings of $4 million, or $2.24 per share for the period ending Sept. 30, 2013.

Through nine months, net income was also a record at $12 million, or $6.74 per share, an increase of $1.16 per share from the 2012 period. Through Sept. 30, operating revenues increased 11.4 percent to $40.7 million from the prior year while operating expenses increased 6.6 percent and the provision for credit losses fell 3.2 percent.

The bank declared dividends of 39 cents per share for the quarter, and average assets increased by $39.6 million in that period, to $1.14 billion.

On Oct. 2 FINRA issued a stock trading symbol for First Farmers Financial Corp allowing it to trade on the OTCQB market. The symbol assigned by FINRA is FFMR and information such as current bid and ask as well as transaction data is available through brokerages and financial websites.

On Oct. 23, First Farmers Financial Corporation (symbol: FFMR) completed a previously announced 2-for-1 stock split. Following the split, the company had 3,561,708 shares outstanding.

First Farmers Financial Corporation is a financial services holding company based in Converse, Ind. The company’s subsidiary, First Farmers Bank & Trust, operates 27 banking facilities in Indiana and Illinois.

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