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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Mad Genius, Eyevox owner acquires Mississippi Film Studios
- Payday lender, fired executive exchanging blame for lender’s regulatory woes
- UMMC reaching out after death of high school football player
- McDaniel files legal arguments as he looks to overturn Cochran loss
- Tragedy for Jackson Prep: Football player Walker Wilbanks dies
- Fitch gives Mississippi Power a negative outlook due to Kemper plant
- UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders
- Mississippi River mayors announce 'seed money' for waterfront developments
- Payday lender expects clean bill from regulators