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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 RTTNews Staff Writer

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