First Farmers Q1 net income rises on higher interest income

First Farmers and Merchants

27/04/2026 12:12

Overview

US community bank's Q1 net income up 22%, driven by higher net interest income

Adjusted EPS for Q1 rose 33.7% to $1.39

Company repurchased 14,299 shares in Q1 under its stock buyback program

Outlook

Company says macro-economic uncertainty continues to influence the broader lending environment

Company sees early traction from Chattanooga expansion and business banking initiatives

Company remains optimistic given the level of its current loan pipeline

Result Drivers

NET INTEREST MARGIN EXPANSION - Co said ninth consecutive qtr of net interest margin expansion, driven by reduced deposit costs and higher-yielding loans and securities

CORE BANKING GROWTH - Record net income driven by core banking operations, not one-time gains, per CEO Brian K. Williams

WEALTH MANAGEMENT & TRUST REVENUE - Record quarterly revenue in wealth management and trust services supported non-interest income

Company press release: ID:nBw2Ngtk0a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
$1.39
Q1 EPS
$1.38
Q1 Adjusted Net Income
$5.50 mln
Q1 Net Income
$5.50 mln
Q1 Net Interest Income
$14.80 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)