First Farmers and Merchants Corporation Reports Third Quarter Net Income Up 12.7% to $5.5 Million
First Farmers and Merchants reported Q3 2026 net income of $5.5 million, up 12.7% year-over-year, with EPS of $1.38 up 14.0%. Record net interest income of $15.7 million (+14.9%) drove results, with NIM expanding to 3.71% for an eleventh consecutive quarter of expansion; annualized loan growth hit a record 24.4%. The Board raised the quarterly dividend 10.3% to $0.32 per share, the fifth consecutive annual increase, and the bank remains well-capitalized (Tier 1 ratio 17.0%).
Key figures
- Eps
- 1.38
- Revenue
- $15.7 million
- Guidance
- No formal guidance; management said Q4 loan pipelines remain supportive with typical year-end seasonal payoffs anticipated
- Revenue Yoy
- 14.9%
- Borrowings
- $33.5 million (vs. none in prior quarter)
- Net income
- $5.5 million, up 12.7% YoY
- Loan growth qoq
- $62.8 million to $1.099 billion
- Dividend per share
- $0.32, +10.3%, fifth consecutive year of increases
- Adjusted net income
- $5.5 million, up 13.0% YoY
- Net interest margin
- 3.71%, +48 bps YoY, +10 bps QoQ, 11th consecutive quarter of expansion
- Tier1 capital ratio
- 17.0%
- Book value per share
- 43.08
- Non performing loans
- $1.9 million, 0.18% of loans
- Annualized loan growth
- 24.4%
- Provision for credit losses
- $395 thousand
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