First Farmers Financial (OTCMKTS:FFMR) to Repurchase $4.00 million in Outstanding Shares

First Farmers Financial (OTCMKTS:FFMR) announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 17th, RTT News reports. The company plans to repurchase $4.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

First Farmers Financial Price Performance

OTCMKTS:FFMR opened at $65.00 on Friday. The company has a 50 day simple moving average of $66.13 and a two-hundred day simple moving average of $66.39. First Farmers Financial has a fifty-two week low of $64.10 and a fifty-two week high of $68.00.

About First Farmers Financial

First Farmers Financial Corporation is a bank holding company based in Hamilton, Indiana, serving the financial needs of rural and suburban communities across Central Indiana and Northwest Ohio. It operates through its primary subsidiary, First Farmers Bank & Trust, which provides a range of community banking and trust services designed to support individuals, families, businesses, and agricultural enterprises.

The company’s core business activities include traditional deposit and lending services.