Home » NEWS » Banking & Finance » Potts: 'Storm has passed' First M&F Corp.

Potts: 'Storm has passed' First M&F Corp.

KOSCIUSKO — First M&F Corp. reported a profit for the first quarter ended March 31, 2011 of $950,000. Net income allocated to common shareholders was $515,000, or $0.06 basic and diluted earnings per share, compared to a profit of $413,000, or $0.05 basic and diluted earnings per share, for the first quarter of 2010.

Hugh S. Potts, Jr., CEO and chairman of the board, said, “It is encouraging to see earnings of $0.06 per share this quarter to make five consecutive quarters of profitable operations and credit issues closer to resolution.”

“Progress out of the recession has been real, measurable and deliberate. The national economy and real estate values have not allowed for a quick or robust recovery but we are making progress.

“First M&F is slowly building capital through retained earnings while navigating very choppy economic seas. The storm has passed.”

Source: First M&F


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About For the MBJ

Leave a Reply

Your email address will not be published. Required fields are marked *