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M&F earnings continue for third consecutive quarter

Source: PR Newswire

KOSCIUSKO — First M&F Corp. (Nasdaq: FMFC) reported today a net profit for the quarter ended September 30, 2010 of $1.245 million.

Net income for the quarter allocated to common shareholders was $13.565 million including a gain on the exchange of preferred stock of $12.867 million, or $1.49 basic and diluted earnings per share.

Common net income excluding the gain on exchange was $.801 million, or $.08 basic and diluted earnings per share, compared to the second quarter of 2010 earnings of $.826 million, or $.09 basic and diluted earnings per share and a loss of $.580 million, or $(.06) basic and diluted earnings per share for the third quarter of 2009.

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