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CONVERSE, IN - First Farmers Financial Corp. (OTCQX:FFMR), a financial holding company currently trading near its 52-week low, has announced a stock repurchase program that authorizes the buyback of up to $4 million of its outstanding common stock. According to InvestingPro analysis, the stock appears overvalued at current levels. This decision, as disclosed by the company’s Board of Directors, will be subject to management’s discretion regarding timing, pricing, and quantity of the repurchases. The program could be altered, halted, or resumed at any point.
The repurchase plan will be financed through the company’s existing working capital. The board believes that this initiative will serve as a capital management strategy and potentially enhance shareholder value, contingent on market and business circumstances.
First Farmers Financial Corp., with a market capitalization of $3.3 billion, is based in Converse, Indiana. It operates First Farmers Bank & Trust, which has a presence across multiple counties in Indiana and Illinois. As of March 31, 2025, there were 6,999,207 common shares of the corporation outstanding.
The company’s move to repurchase shares comes as a part of its broader efforts to manage capital effectively and deliver value to its shareholders. The company has maintained dividend payments for 13 consecutive years and remains profitable over the last twelve months. This announcement is based on a press release statement from First Farmers Financial Corporation.
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