First Farmers Financial Corporation (FFMR) Income Statement Analysis

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Complete financial analysis of First Farmers Financial Corporation (FFMR) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of First Farmers Financial Corporation, a leading company in the Banks – Regional industry within the Financial Services sector.

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First Farmers Financial Corporation (FFMR)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.ffbt.com

About First Farmers Financial Corporation

First Farmers Financial Corporation operates as the financial holding company for First Farmers Bank & Trust that provides banking products and services to individuals, families, and businesses. The company offers checking and savings accounts, health savings accounts, youth accounts, business accounts, deposit and government accounts, certificates of deposit, and individual retirement accounts, as well as account management services; and mortgages and construction loans, first time home buyers loan, home equity loans, auto loans, collateral loans, and debit and credit cards. It also provides lines of credit, term loans, real estate financing and construction loan, equipment financing, enhancement loans, letters of credit, inventory loans, livestock lending, and vehicle financing, as well as leasing, and mobile and online banking services. The company has offices throughout Carroll, Cass, Clay, Grant, Hamilton, Howard, Huntington, Madison, Marshall, Miami, Starke, Sullivan, Tippecanoe, Tipton, Vigo, and Wabash counties in Indiana; and offices in Coles, Edgar, and Vermilion counties in Illinois. First Farmers Financial Corporation was founded in 1885 and is headquartered in Converse, Indiana.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	118.90M	107.85M	103.26M	95.57M	85.05M	80.87M	73.09M	67.00M	63.33M	56.30M	50.98M
Cost of Revenue	-58.54M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	177.44M	107.85M	103.26M	95.57M	85.05M	80.87M	73.09M	67.00M	63.33M	56.30M	50.98M
Gross Profit Ratio	149.24%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	33.25M	31.20M	31.33M	30.36M	27.63M	25.81M	24.57M	23.67M	23.83M	19.92M	0.00
Selling & Marketing	2.20M	2.05M	1.48M	1.33M	1.64M	1.50M	1.40M	1.31M	0.00	0.00	0.00
SG&A	35.45M	33.25M	32.81M	31.69M	29.27M	27.32M	25.97M	23.67M	23.83M	19.92M	21.34M
Other Expenses	83.45M	-89.86M	-92.75M	-90.94M	-79.56M	-75.81M	-10.91M	-11.04M	-10.32M	0.00	0.00
Operating Expenses	118.90M	-56.62M	-59.93M	-59.25M	-50.29M	-48.50M	10.91M	11.04M	10.32M	32.24M	29.40M
Cost & Expenses	118.90M	-56.62M	-59.93M	-59.25M	-50.29M	-48.50M	53.14M	49.85M	45.54M	32.24M	29.40M
Interest Income	161.34M	105.15M	87.20M	83.24M	88.27M	79.10M	67.94M	60.63M	56.25M	51.20M	0.00
Interest Expense	58.59M	13.38M	7.96M	12.52M	18.55M	13.67M	9.30M	7.12M	5.72M	5.31M	0.00
Depreciation & Amortization	3.77M	2.38M	2.50M	2.54M	2.53M	2.42M	2.56M	2.76M	3.57M	2.78M	-22.96M
EBITDA	59.49M	54.62M	47.05M	41.01M	38.50M	35.31M	29.67M	26.33M	26.68M	25.33M	-1.38M
EBITDA Ratio	50.04%	50.65%	45.57%	42.92%	45.27%	43.66%	40.59%	39.30%	42.13%	45.00%	-2.71%
Operating Income	56.91M	51.23M	43.33M	36.32M	34.76M	32.37M	26.68M	22.55M	23.12M	22.55M	22.96M
Operating Income Ratio	47.86%	47.50%	41.96%	38.00%	40.87%	40.03%	36.50%	33.66%	36.50%	40.06%	45.03%
Total Other Income/Expenses	0.00	0.00	-348.00K	-471.00K	-644.00K	-795.00K	-1.47M	0.00	0.00	0.00	-1.38M
Income Before Tax	56.91M	51.23M	43.33M	36.32M	34.76M	32.37M	26.68M	22.55M	23.12M	22.55M	21.58M
Income Before Tax Ratio	47.86%	47.50%	41.96%	38.00%	40.87%	40.03%	36.50%	33.66%	36.50%	40.06%	42.32%
Income Tax Expense	10.73M	9.95M	7.27M	5.88M	5.24M	4.66M	4.93M	5.52M	6.31M	6.33M	5.76M
Net Income	46.18M	41.28M	36.35M	30.44M	29.52M	27.71M	21.75M	17.03M	16.81M	16.23M	15.82M
Net Income Ratio	38.84%	38.27%	35.20%	31.86%	34.71%	34.26%	29.76%	25.42%	26.54%	28.82%	31.03%
EPS	6.57	5.88	5.16	4.29	4.13	3.87	3.03	2.38	2.35	2.28	2.22
EPS Diluted	6.57	5.88	5.16	4.29	4.13	3.87	3.03	2.38	2.35	2.28	2.22
Weighted Avg Shares Out	7.03M	7.02M	7.05M	7.10M	7.15M	7.17M	7.17M	7.16M	7.15M	7.13M	7.12M
Weighted Avg Shares Out (Dil)	7.03M	7.02M	7.05M	7.10M	7.15M	7.17M	7.17M	7.16M	7.15M	7.13M	7.12M

Dividend Champion Highlights: Week Of September 19

September 18, 2021seekingalpha.com

weekly summary of dividend activity for Dividend Champions and Contenders. Companies which changed their dividends.

First Farmers Financial Corp. Declares Record Dividend

September 14, 2021globenewswire.com

Converse, IN, Sept. 14, 2021 (GLOBE NEWSWIRE) -- First Farmers Financial Corp. (OTCQX Banks; FFMR), the parent company of First Farmers Bank & Trust Co., announced that on September 14, 2021 the Board of Directors approved a record quarterly cash...

First Farmers Financial Corp. Announces Common Stock Buyback Program

July 13, 2021globenewswire.com

Converse, IN, July 13, 2021 (GLOBE NEWSWIRE) -- First Farmers Financial Corp. (OTCQX:FFMR), announced that the Board of Directors has approved a plan to repurchase up to $2 million in the Corporation's outstanding common stock on the open market.

Dividend Champions For July 2021

July 2, 2021seekingalpha.com

Monthly update of the Dividend Champions List. 30 companies declared higher dividends in the past month, with an average increase of 12.17% over their previous payouts.

First Farmers Financial Corp. Declares Dividend

June 15, 2021globenewswire.com

Converse, IN, June 15, 2021 (GLOBE NEWSWIRE) -- First Farmers Financial Corp. (OTCQX Banks; FFMR), the parent company of First Farmers Bank & Trust Co., announced that on June 15, 2021 the Board of Directors approved a quarterly cash dividend...

First Farmers Financial Corp. Announces Common Stock Buyback Program

April 13, 2021globenewswire.com

14th Corporate Stock Buyback since October 2017 14th Corporate Stock Buyback since October 2017

Gene Miles retires as CEO of First Farmers Bank & Trust, remains CEO and President of First Farmers Financial Corporation ( FFMR )

April 2, 2021globenewswire.com

CONVERSE, Ind., April 02, 2021 (GLOBE NEWSWIRE) -- In accordance with established succession planning, Gene Miles retired from his daily responsibilities as Chief Executive Officer of First Farmers Bank & Trust on March 31, 2021. His impact on the Bank...