First Farmers and Merchants Corporation (FFMH) Fair Value & Analysis
Financial Services · US · Market cap $229M
First Farmers and Merchants Corporation
FFMH · US
Fair value as of: Jul 26, 2026
From 6 valuation models · updated 15 days ago
Share price +7.0% over the past month.
A solid business, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
60‑month range $13.99 – $61.73 · fair‑value band $45.85 – $76.41 · the $61.73 price screens above the $61.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.
Analysis
First Farmers and Merchants Corporation (FFMH) currently trades at $61.73, while our model-based Fair Value estimate is $61.13, implying the stock looks roughly 1.0% fairly valued today. The Quality Score stands at 60/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, First Farmers and Merchants Corporation generated revenue of $69.5M at a net margin of 28.3%. Revenue grew 16.2% year over year. It earns a return on equity of 12.2%. The balance sheet holds a net cash position of $100M. Fundamentals as of Jul 26, 2026
Our scenario range runs from $45.85 (bear case) to $76.41 (bull case); at $61.73, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 63% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at -1%, FFMH screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 6 models by family
Widest divergence: Multiples ($60.64) versus Dividend Discount ($11.24). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 93
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
First Farmers and Merchants Corporation operates as the bank holding company for First Farmers and Merchants Bank that provides a range of banking and financial services to individual and corporate customers in Middle Tennessee and Northern Alabama. The company offers checking and savings accounts, retirement accounts, and certificates of deposit.
Full company description
First Farmers and Merchants Corporation operates as the bank holding company for First Farmers and Merchants Bank that provides a range of banking and financial services to individual and corporate customers in Middle Tennessee and Northern Alabama. The company offers checking and savings accounts, retirement accounts, and certificates of deposit. Its loan portfolio includes home and commercial mortgages; home equity, auto, personal, and farm loans; credit cards; equipment and construction lending; equipment leasing; lines of credit; and other loan products. The company also offers wealth management and trust and investment services; and treasury management solutions, which include accounts receivable and payable, fraud prevention, and account management solutions, as well as online and mobile banking services. The company was founded in 1909 and is based in Columbia, Tennessee.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
First Farmers and Merchants Corporation reported revenue of $81.3M in FY2025 versus $64.3M in FY2021, a compound +6.0%/yr. Reported net income was $18.6M in FY2025, compounding +4.5%/yr from FY2021.
of which total revenue +4.5 pp · buybacks/dilution +1.8 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Banks - Regional · 1083 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| PT Bank Central Asia Tbk BBCA | 6,175 IDR | 6,087 IDR | -1% |
| KB Financial Group 105560 | 184,400 KRW | 213,797 KRW | +16% |
| PT Bank Rakyat Indonesia (Persero) Tbk BBRI | 2,970 IDR | 4,891 IDR | +65% |
| PT Bank Mandiri (Persero) Tbk BMRI | 4,310 IDR | 7,841 IDR | +82% |
| Banco Bradesco S.A BBD | 5,120 ARS | 10,240 ARS | +100% |
| Shinhan Financial Group 055550 | 107,900 KRW | 137,259 KRW | +27% |
| Hana Financial Group 086790 | 136,800 KRW | 193,969 KRW | +42% |
| Lloyds Banking Group LYG | 4,138 ARS | 8,275 ARS | +100% |
| Banco de Chile, CHILE | 193.10 CLP | 152.55 CLP | -21% |
| Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB | 59,400 VND | 84,201 VND | +42% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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