Potts: ‘Storm has passed’ First M&F Corp.
by For the MBJ
Published: April 20,2011
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
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Ex-prison boss and businessman admit to bribery scheme
- ASA postmortem: industrial recruiting is a constant cycle of death and life
- MARTIN WILLOUGHBY — Doug Dale’s self-awareness helps lift him to top of his game
- MBJ Business Woman of the Year Top 10
- JOSH MABUS — Inbound marketing is fueled by wishful thinking
- Meet the MBJ's Businesswoman of the Year — Rosemary Smith, a business hotshot
- (UPDATED — BREAKING NEWS) American Specialty Alloys won’t locate $1.2B mill in Mississippi
- DAVID DALLAS — Delbert Hosemann: An unsung hero chooses to remain so
- Prison won’t interrupt ex-prison chief’s retirement cash flow