| Business Summary | | First
M
&
F
Corporation
is
a
one-bank
holding
company
that
engages
exclusively
in
the
banking
business
through
its
wholly
owned
subsidiary,
Merchants
and
Farmers
Bank
of
Kosciusko
(the
Bank).
The
Bank
accounts
for
substantially
all
of
the
total
assets
and
revenues
of
the
Company,
and
had
total
assets
of
approximately
$1.02
billion,
as
of
December
31,
2000.
The
Bank
offers
a
complete
range
of
commercial
and
consumer
services
through
its
main
office
and
two
branches
in
Kosciusko
and
its
branches
within
central
Mississippi,
including
Ackerman,
Bruce,
Brandon,
Canton,
Cleveland,
Clinton,
Durant,
Grenada,
Lena,
Madison,
Oxford,
Pearl,
Philadelphia,
Ridgeland,
Southaven,
Starkville,
Tupelo,
and
Weir.
The
Bank
provides
services
to
middle-market
and
professional
businesses,
ranging
from
payroll
checking,
business
checking,
corporate
savings
and
secured
and
unsecured
lines
of
credit.
Additional
services
include
direct
deposit
payroll,
sweep
accounts
and
letters
of
credit. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FMFC
is
a
bank
holding
company
for
Merchants
and
Farmers
Bank,
located
in
Mississippi.
For
the
six
months
ended
6/30/01,
interest
income
fell
less
than
1%
to
$35.9
million.
Net
interest
income
after
loan
loss
provision
fell
8%
to
$13.6
million.
Net
income
fell
19%
to
$3.5
million.
Net
interest
income
after
LLP
reflects
decreased
interest
income
from
investments,
and
higher
loan
loss
provisions.
Earnings
also
reflect
increased
equipment
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Hugh Potts, Jr., 56 Chairman,
CEO | $200K | Scott Wiggers, 56 Pres,
Director | 152K | Robert Thompson III, 42 Treasurer | -- | Robert Autry Exec.
VP and Divisional Sales Mang. of M & F Bank | 109K | Christopher Burgess Exec.
VP and Divisional Sales Mang. of M & F Bank | 112K | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|