First Farmers and Merchants
Market Cap
US$183.3m
Last Updated
2019/10/23 00:12 UTC
Data Sources
Company Financials
Executive Summary
First Farmers and Merchants Corporation operates as the bank holding company for First Farmers and Merchants Bank that provides various banking and financial services in Tennessee and Alabama.
Snowflake
Fundamentals
Flawless balance sheet with proven track record.
Similar Companies
Share Price & News
How has First Farmers and Merchants's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
0%
FFMH
2.9%
US Banks
0.07%
US Market
1 Year Return
-4.3%
FFMH
8.6%
US Banks
8.9%
US Market
Return vs Industry: FFMH underperformed the US Banks industry which returned 8.6% over the past year.
Return vs Market: FFMH underperformed the US Market which returned 8.9% over the past year.
Shareholder returns
| FFMH | Industry | Market | |
|---|---|---|---|
| 7 Day | 0% | 2.9% | 0.07% |
| 30 Day | -1.0% | 3.4% | -0.3% |
| 90 Day | -6.3% | 2.1% | -1.6% |
| 1 Year | -2.4%-4.3% | 11.8%8.6% | 11.3%8.9% |
| 3 Year | 59.8%50.0% | 54.8%44.1% | 46.3%36.8% |
| 5 Year | n/a | 70.2%51.6% | 62.1%44.3% |
Price Volatility Vs. Market
How volatile is First Farmers and Merchants's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is First Farmers and Merchants undervalued compared to its fair value and its price relative to the market?
11.7x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: FFMH ($41.62) is trading above our estimate of fair value ($32.14)
Significantly Below Fair Value: FFMH is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: FFMH is good value based on its PE Ratio (11.7x) compared to the Banks industry average (12.6x).
PE vs Market: FFMH is good value based on its PE Ratio (11.7x) compared to the US market (17.8x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate FFMH's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: FFMH is overvalued based on its PB Ratio (1.3x) compared to the US Banks industry average (1.2x).
Next Steps
Future Growth
How is First Farmers and Merchants forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
3.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FFMH's forecast earnings growth (3.1% per year) is above the savings rate (2.7%).
Earnings vs Market: FFMH's earnings (3.1% per year) are forecast to grow slower than the US market (14.5% per year).
High Growth Earnings: FFMH's earnings are forecast to grow, but not significantly.
Revenue vs Market: Insufficient data to determine if FFMH's revenue is forecast to grow faster than the US market.
High Growth Revenue: Insufficient data to determine if FFMH's revenue is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if FFMH's Return on Equity is forecast to be high in 3 years time
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Past Performance
How has First Farmers and Merchants performed over the past 5 years?
8.7%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: FFMH's earnings have grown by 8.7% per year over the past 5 years.
Accelerating Growth: FFMH's earnings growth over the past year (30.1%) exceeds its 5-year average (8.7% per year).
Earnings vs Industry: FFMH earnings growth over the past year (30.1%) exceeded the Banks industry 29.7%.
Return on Equity
High ROE: FFMH's Return on Equity (11.3%) is considered low.
Return on Assets
ROA vs Industry: FFMH has a higher Return on Assets than the Banks industry average last year.
Return on Capital Employed
ROCE Improving: Insufficient data to calculate FFMH's Return on Capital Employed to determine if it has improved over the past 3 years.
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Financial Health
How is First Farmers and Merchants's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: FFMH has a low level of unsold assets or inventory.
Debt Coverage by Assets: FFMH's debt is not covered by short term assets (assets are 0.8x debt).
Financial Institutions Analysis
Asset Level: FFMH's level of assets compared to its equity is low.
Allowance for Bad Loans: FFMH has a sufficient allowance for bad loans.
Low Risk Liabilities: FFMH's liabilities are made up of primarily low risk sources of funding.
Loan Level: FFMH has an acceptable proportion of non-loan assets held.
Low Risk Deposits: FFMH's loans are broadly funded by customer deposits.
Level of Bad Loans: FFMH has an appropriate level of bad loans (0.19%)
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Dividend
What is First Farmers and Merchants's current dividend yield, its reliability and sustainability?
2.02%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: FFMH's dividend (2.02%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: FFMH's dividend (2.02%) is low compared to the top 25% of dividend payers in the US market (3.68%).
Stable Dividend: Whilst dividend payments have been stable, FFMH has been paying a dividend for less than 10 years.
Growing Dividend: FFMH's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (28.7%), FFMH's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
What is the CEO of First Farmers and Merchants's salary, the management and board of directors tenure and is there insider trading?
4.4yrs
Average management tenure
CEO
Randy Stevens (67yo)
17.3yrs
Tenure
US$814,116
Compensation
Mr. Thomas Randall Stevens, also known as Randy, has been the Chief Executive Officer at First Farmers Merchants Corp. and its subsidiary, First Farmers and Merchants Bank(a/k/a Merchants National Bank of ...
CEO Compensation Analysis
Compensation vs. Market: Randy's total compensation ($USD0.00) is too low to compare against companies of similar size in the US market ($USD1.22M).
Compensation vs Earnings: Randy's compensation has been consistent with company performance over the past year.
Management Age and Tenure
4.4yrs
Average Tenure
58yo
Average Age
Experienced Management: FFMH's management team is considered experienced (4.4 years average tenure).
Board Age and Tenure
9.5yrs
Average Tenure
67yo
Average Age
Experienced Board: FFMH's board of directors are considered experienced (9.5 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Management Team
Waymon Hickman (84yo)
Senior Chairman of the Board and Honorary Director
- Tenure: 0yrs
- Compensation: US$243.85k
Randy Stevens (67yo)
Chairman & CEO
- Tenure: 17.3yrs
- Compensation: US$814.12k
Leslie Brooks
Davidson County President
- Tenure: 0yrs
- Compensation: US$175.51k
Brian Williams (49yo)
President & Director
- Tenure: 3.5yrs
- Compensation: US$274.56k
Billy Harvel
Vice President
- Tenure: 0yrs
Paul Butts
Senior Executive of Retail Banking
- Tenure: 0yrs
M. Church
President of Maury County
- Tenure: 0yrs
R. Holland
President of Williamson County
- Tenure: 0yrs
Bobby Krimmel (37yo)
CFO & Treasurer
- Tenure: 4.4yrs
- Compensation: US$189.59k
Stephanie Harlan
Corporate Secretary
- Tenure: 0yrs
Board Members
Waymon Hickman (84yo)
Senior Chairman of the Board and Honorary Director
- Tenure: 0yrs
- Compensation: US$243.85k
Randy Stevens (67yo)
Chairman & CEO
- Tenure: 17.3yrs
- Compensation: US$814.12k
Tom Gordon (67yo)
Independent Director
- Tenure: 33.8yrs
- Compensation: US$40.30k
Tim Pettus (67yo)
Vice Chairman
- Tenure: 3.8yrs
- Compensation: US$501.65k
Brian Williams (49yo)
President & Director
- Tenure: 3.5yrs
- Compensation: US$274.56k
Virgil Moore
Senior Chairman of the Board and Honorary Director
- Tenure: 0yrs
Sonny Scoggins (69yo)
Independent Director
- Tenure: 11.5yrs
- Compensation: US$29.30k
Dalton Mounger (68yo)
Independent Director
- Tenure: 9.5yrs
- Compensation: US$68.44k
Jonathan Edwards (58yo)
Independent Director
- Tenure: 9.5yrs
- Compensation: US$57.39k
Jeff Aiken (55yo)
Director
- Tenure: 2.5yrs
Company Information
First Farmers and Merchants Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: First Farmers and Merchants Corporation
- Ticker: FFMH
- Exchange: OTCPK
- Founded: 1909
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$183.331m
- Shares outstanding: 4.40m
- Website: https://www.myfirstfarmers.com
Number of Employees
Location
- First Farmers and Merchants Corporation
- 816 South Garden Street
- Columbia
- Tennessee
- 38401
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FFMH | OTCPK (Pink Sheets LLC) | Yes | Common Stock | US | USD | May 2009 |
Biography
First Farmers and Merchants Corporation operates as the bank holding company for First Farmers and Merchants Bank that provides various banking and financial services in Tennessee and Alabama. The company’ ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/23 00:12 |
| End of Day Share Price | 2019/10/16 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.