Friday, August 17th, 2018

First Farmers announces common stock buyback

Posted: Friday, July 13, 2018

First Farmers Financial Corp. (OTCQX:FFMR), announced at its July 10, 2018 board meeting, the board of directors approved a plan to repurchase up to $1 million in the corporation’s outstanding common stock on the open market.

The timing, price and quantity of purchases under the stock repurchase plan will be at the discretion of management and may be discontinued, suspended or restarted at any time. The program will be funded from current available working capital. The board feels the stock repurchase plan will provide capital management opportunities and add value for the company’s shareholders depending upon market and business conditions.

This buyback program follows recent announcements from FFMR of a 2-for-1 common stock split for shareholders effective June 15, 2018 and a record quarterly cash dividend of $0.26 per share payable on July 13, 2018.