logo
Share SHARE
FONT-SIZE Plus   Neg

First M&F Q2 Profit Rises

First M&F Corp. (FMFC) Friday reported second-quarter net income applicable to common stock of $1.698 million or $0.17 per share, compared $1.282 million or $0.14 per share last year.

Net interest income for the three-month period dropped to $12.3 million from $12.9 million last year. Total non-interest income for the quarter declined to $4.6 million from $6.0 million a year ago.

Total non-interest expense declined to $12.5 million from $14.3 million a year ago.

In February, Renasant Corp. (RNST) agreed to acquire First M&F. M&F common shareholders will receive 0.6425 shares of Renasant common stock for each share of M&F common stock.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Payments giant PayPal filed a lawsuit against music streaming company Pandora Media over alleged similarities in both companies' logos. The trademark infringement lawsuit was filed last week in U.S. District Court for the Southern District of New York, seeking legal costs and unspecified damages. PayPal also called for Pandora to cease use of its current blue "P" logo. Tiffany & Co. reported Wednesday higher profit in its first quarter, above market estimates. Net sales edged up, but missed market view amid lower comparable sales in all regions. Further, the company maintained its fiscal 2017 earnings view, but updated sales growth view on a constant exchange rate basis. In pre-market activity, Tiffany shares were losing 3.92 percent. Lowe's Co. reported Wednesday lower profit in its first quarter, reflecting a loss on extinguishment of debt, despite higher sales and comparable sales. Adjusted earnings per share and sales missed market estimates. Further, the company updated its fiscal 2017 earnings view to reflect the loss, and backed sales growth forecast. In pre-market activity, shares were declining 7.34 percent.
comments powered by Disqus
Follow RTT