First M&F reports $950,000 profit

By NEMS Daily Journal

KOSCIUSKO – First M&F Corp. reported a profit for the first quarter ended March 31 of $950,000. Net income allocated to common shareholders was $515,000, or 6 cents per share, compared to a profit of $413,000, or 5 cents per share, for the first quarter of 2010.
Net interest income was up by 13.2 percent, compared to the first quarter of 2010. Net interest margin increased to 3.59 percent from 3.16 percent.
Total assets were flat, at $1.6 billion, while deposits rose from $1.375 billion to $1.4 billion.