Dividend Delight: First Farmers Financial Corp. Announces Record Quarterly Payout

Converse, Indiana, Sept. 17, 2024 (GLOBE NEWSWIRE) — First Farmers Financial Corp. (OTCQX Banks; FFMR), the parent company of First Farmers Bank & Trust Co., has announced a significant increase in its quarterly cash dividend, providing a boost to its shareholders.

Unlocking Shareholder Value: First Farmers Financial Corp. Delivers Impressive Dividend Hike

Quarterly Dividend Soars to New Heights

The Board of Directors at First Farmers Financial Corp. has approved a record quarterly cash dividend of $0.48 per share, payable on October 15, 2024, to shareholders of record as of September 30, 2024. This represents a 2.1% increase over the $0.47 dividend declared in September 2023, showcasing the company's commitment to rewarding its loyal investors.The decision to raise the dividend underscores First Farmers Financial Corp.'s strong financial performance and its ability to generate consistent returns for its shareholders. The company's robust balance sheet and prudent management have enabled it to maintain a steady stream of dividends, even in the face of economic challenges.

Expanding Footprint and Diversifying Portfolio

First Farmers Financial Corp. is a $3.3 billion financial holding company headquartered in Converse, Indiana. The company's subsidiary, First Farmers Bank & Trust, has a growing presence across the Midwest, with offices spanning 16 counties in Indiana and 3 counties in Illinois.The bank's strategic expansion has allowed it to diversify its customer base and revenue streams, reducing its reliance on any single market or sector. This diversification has contributed to the company's financial stability and its ability to weather economic fluctuations, ultimately benefiting its shareholders.

Commitment to Shareholder Value

The decision to increase the quarterly dividend is a testament to First Farmers Financial Corp.'s commitment to creating value for its shareholders. The company's management team has consistently demonstrated a focus on prudent financial management, disciplined growth, and a dedication to delivering strong returns.By rewarding its shareholders with a higher dividend, First Farmers Financial Corp. is signaling its confidence in the company's future prospects and its ability to continue generating robust financial results. This move is likely to be well-received by the investment community, as it underscores the company's commitment to shareholder value creation.

Positioning for Long-Term Success

The dividend increase is not only a reflection of First Farmers Financial Corp.'s current performance but also a strategic move to position the company for long-term success. By maintaining a strong balance sheet and a steady stream of dividends, the company is attracting the attention of investors seeking stable and reliable investments.This focus on shareholder value creation is expected to continue to drive the company's growth and expansion, as it seeks to capitalize on emerging opportunities in the financial services industry. With a diversified portfolio, a growing footprint, and a commitment to prudent financial management, First Farmers Financial Corp. is well-positioned to deliver sustained value to its shareholders in the years to come.