First Farmers and Merchants Corporation Reports Un-Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2018; Provides Interest Income Guidance for the Year 2019
For the nine months, the company reported total interest income of $45.9 million compared to $42.1 million a year ago. Net interest income was $41.7 million compared to $39.0 million a year ago. Net income for common shareholders was $14.2 million or $3.17 per share compared to $10.4 million or $2.29 per share a year ago.
Interest income is expected to improve in 2019 as a result of the growth in loan balances.