First Farmers and Merchants Bank

What First Farmers and Merchants Bank does

First Farmers and Merchants Bank is a Tennessee-chartered community bank founded in 1909 in Columbia, Tennessee, and operating as the banking subsidiary of First Farmers and Merchants Corporation (OTCMKTS: FFMH). The bank serves individuals, families, small and mid-sized businesses, agricultural operators, and high-net-worth clients across Middle Tennessee through 22 financial service centers in seven counties (Davidson, Giles, Hickman, Lawrence, Marshall, Maury, Williamson), with a new loan and deposit production office in Chattanooga and operations extending into Northern Alabama.

The bank offers a full-service product set spanning personal and business deposit accounts, consumer and mortgage lending, commercial and SBA lending (with recognized Tennessee-leading SBA 7(a) volume), farm loans, treasury management (ACH, lockbox, remote deposit, Positive Pay, merchant card services through BancCard), and a Wealth Management and Trust Division administering over $7 billion in assets. Technology infrastructure is delivered primarily through third-party vendors: Digital Insight for the mobile and online banking platform, FIS Card Suite Lite for card controls, Early Warning Services for Zelle, Elan Financial Services for credit card issuance, Loomis SafePoint for cash management, and Ameriprise Financial for investment services via revenue sharing.

Revenue is generated primarily through net interest income (Q1 2026 NII of $14.8M, NIM of 3.54%), supplemented by deposit and service fees, SBA origination fees, merchant card services fees, and recurring wealth management and trust fees. The go-to-market model is relationship-based community banking with local decision authority, supported by a 12-person executive leadership team and a board composed of senior executives from major regional enterprises in healthcare, agriculture, energy, insurance, and construction.

Name

First Farmers and Merchants Bank

Legal name

First Farmers and Merchants Bank

Website

https://myfirstfarmers.com

Company type

Public

Founded year

1909

Operating status

Operating

Headcount range

101–250 employees

Short description

First Farmers and Merchants Bank is a 1909-founded Tennessee community bank with $1.9B in assets, 22 branches across seven Middle Tennessee counties, and a $7B+ wealth management franchise, serving individuals, businesses, farmers, and HNW clients with full-service banking, SBA lending, and trust services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Fruit and Tree Nut Combination Farming (111336), Fruit and Vegetable Retailers (445230)

SIC

National Commercial Banks (6021), Retail-Grocery Stores (5411), State Commercial Banks (6022)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

Keywords

• Community banking services
• Commercial lending solutions
• Wealth management services
• SBA lending programs
• Treasury management services

Headquarters

HQ city

Columbia

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income: Primary revenue driver from spread between interest earned on loans (mortgages, commercial loans, consumer loans, farm loans) and interest paid on deposits. Q1 2026 net interest income of $14.8 million.
2. Trust and Wealth Management Fees: Fees from managing $7+ billion in assets under supervision. Services include asset management, estate administration, family office, financial planning, retirement accounts, and trust services.
3. Account and Service Fees: Monthly maintenance fees on checking and savings accounts, ATM fees, wire transfer fees, and other banking service charges.
4. Certificate of Deposit Interest: Deposit products with terms from 7 days to 5 years, paying competitive interest rates. FDIC insured up to $250,000.
5. Investment Services Revenue Sharing: Partnership with Ameriprise Financial through which First Farmers receives revenue sharing for referrals. Investment products and financial planning services offered to bank customers.
6. SBA Lending Fees: SBA 7(a), Express, and 504 loan programs generating origination fees. Recognized as SBA Tennessee Top Lender.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

First Farmers and Merchants Bank is a community bank offering deposit accounts (checking, savings, money market, CDs, IRAs), consumer and commercial lending (personal loans, mortgages, home equity, auto, farm, SBA, and business loans), credit cards, treasury management services, and a $7+ billion wealth management and trust division. The bank serves individuals, families, small and mid-sized businesses, agricultural operations, and high-net-worth households through 22 financial service centers across Middle Tennessee supplemented by online and mobile banking channels.

Product overview

First Farmers and Merchants Bank operates as a community bank offering a comprehensive suite of banking products and services through both physical branch locations and digital channels. The bank's digital offerings center on an Online Banking platform and Mobile Banking App that serve as the primary interfaces for account management, bill pay, fund transfers, and mobile deposits. Core deposit products include multiple Checking Account variants (Free, Regular, Interest, President's Club, Chairman's Club, Student) and Savings products (Step Up Savings, Money Market, Christmas Club, CDs). Lending offerings span personal loans, home mortgages (with construction-to-permanent and HELOC options), auto loans, farm loans, and business/commercial loans including SBA programs. Treasury Management solutions provide business cash management through ACH, lockbox, remote deposit, Positive Pay fraud protection, and merchant services. Wealth Management & Trust Services, managing over $7 billion in assets, offers investment advisory through an Ameriprise partnership alongside asset management, estate planning, and trust services. The bank also integrates third-party services including Zelle for P2P payments, Card Suite Lite for debit card controls, and mobile wallet support for Apple Pay and Samsung Pay.

Differentiator

Problem solved

Functional benefit

Products and services

• Online Banking Digital banking platform that allows customers to manage accounts, pay bills, transfer funds, view transaction history, and access eStatements 24/7 from any device.
• Mobile Banking App Smartphone application for iOS and Android that enables balance checking, mobile check deposit, fund transfers, bill payments, Zelle payments, and account alerts.
• Personal Checking Accounts Personal checking products including Free Checking, Regular Checking, Interest Checking, President's Club, Chairman's Club (50+), and Student Checking accounts with varying features, balance thresholds, and fee structures.
• Personal Savings Accounts Savings products including Step Up Savings with tiered interest rates, Personal Money Market, Christmas Club savings, and Certificates of Deposit with terms from 7 days to 5 years.
• IRA Services Individual Retirement Accounts including 2-Year Variable Rate IRA and IRA Certificates of Deposit in 1, 2, 3, and 5-year terms with no setup or maintenance fees.
• Personal Loans Unsecured personal loans for debt consolidation, major purchases, home improvements, and special occasions, plus First Select Line of Credit with overdraft protection.
• Home Mortgages Mortgage products including fixed-rate, adjustable rate, VA/FHA/USDA, jumbo, construction-to-permanent, bridge loans, and affordable home purchase programs.
• Home Equity Loans and HELOC Home equity financing including fixed-rate Home Equity Loans and flexible Home Equity Lines of Credit (HELOC) with draw periods up to 10 years.
• Auto Loans Vehicle financing with competitive rates and flexible repayment options for new and used car purchases or refinancing.
• Farm Loans Agricultural financing tailored for Middle Tennessee farms and ranches to meet their operational and expansion financial goals, including farm operating loans, farm real estate loans, and agricultural equipment financing.
• Consumer Credit Cards Personal credit cards with EMV chip technology, mobile purchasing capability, and zero fraud liability, issued through Elan Financial Services under Visa and Mastercard licenses.
• Business Credit Cards Business credit card options including low rate, cash back, and flexible rewards programs with free online expense reporting and no additional employee card fees.
• SBA Lending Solutions Small Business Administration loan programs including SBA 7(a), SBA Express ($50K-$500K), and SBA 504 for equipment and real estate, with loan sizes from $50,000 to $5 million.
• Business Loans Commercial lending products including commercial mortgages, equipment lending and leasing, construction financing, accounts receivable financing, and lines of credit.
• Treasury Management Solutions Cash management services including accounts receivable solutions (ACH, lockbox, remote deposit), accounts payable solutions (ACH origination, controlled disbursements, wires), fraud prevention (Positive Pay, ACH Positive Pay), and account management tools.
• Wealth Management and Trust Services Comprehensive wealth management including asset management, estate administration, family office services, financial planning, retirement accounts, and trust services, with $7+ billion in assets under supervision.
• Investment Services Financial advisory and investment planning services provided through a partnership with Ameriprise Financial Institutions Group, including financial planning, retirement planning, investments, insurance, annuities, estate planning, and tax strategies.
• Merchant Card Services Payment processing solutions for merchants offered through a partnership with BancCard, including 24/7 support, online reporting, face-to-face consultative meetings, and expedited funding.

Quantifiable outcome

• Q1 2026 net income of $5.5 million, up 22.4% year-over-year
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Pathway LendingcoreStrategic or Co-development Partner · 1 January 2026Partnership for housing fund initiatives. Pathway Lending launched the Pathway Housing Fund with $30 million in committed capital to acquire and preserve affordable housing in Tennessee communities.
• Ameriprise Financial ServicescoreGTM or Marketing PartnerFirst Farmers offers an investment services program through Ameriprise Financial Institutions Group. Through on-site financial planning and investment solutions, Ameriprise partners with the bank to help customers reach financial goals. Revenue sharing relationship exists. Mark Meyer serves as Financial Advisor at Columbia Main Office.
• The Housing Fund, Inc.minorStrategic or Co-development PartnerDown payment assistance partnership providing loans up to $35,000 for down payment and closing costs. Also provides homebuyer education courses. Supports affordable housing initiatives in local communities.
• BancCardminorChannel Partner/ Reseller/ DistributorMerchant card services partner offering wide range of innovative payment solutions for merchants. Includes 24/7 support, online reporting, face-to-face consultative meetings, and expedited funding.
• Early Warning Services (Zelle)coreTechnology or IntegrationFirst Farmers offers Zelle payment services through partnership with Early Warning Services, LLC. Enables fast, safe money transfers between bank accounts.
• Elan Financial ServicescoreTechnology or IntegrationCredit card issuer and servicer. Provides consumer and business credit cards with zero fraud liability protection. Cards issued pursuant to licenses from Visa and Mastercard.

Scale indicators14 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Trustmark National Bank: Jackson, MS-based regional bank with similar community banking model and comparable wealth management franchise. Overlaps with First Farmers in commercial banking and trust services across the Southeast.
• First Horizon National Corporation: Memphis-headquartered regional banking giant with extensive Tennessee presence. Significantly larger asset base and broader product suite, but directly overlaps in retail, small business, and wealth segments where First Farmers competes.
• BancorpSouth Bank: Large regional bank with Tennessee and Southeast presence. Competes in commercial banking, mortgage, and trust segments where First Farmers operates, though at significantly greater scale.

Direct peers

• SmartFinancial: Knoxville-based community bank serving Tennessee markets with personal, business, and mortgage lending. Comparable size and growth-oriented strategy targeting similar Tennessee customer segments.
• Renasant Corporation: Mississippi-headquartered community bank with Tennessee operations and similar asset scale. Comparable diversified product mix including wealth management and small business lending.
• Atlantic Capital Bank: Chattanooga-based regional bank — First Farmers' newly entered market. Overlap in commercial banking and treasury management product offerings with strong East Tennessee presence.
• FirstBank (Franklin, TN): Tennessee-headquartered community bank serving Middle Tennessee with personal, business, and mortgage banking. Closest geographic peer with overlapping Williamson and Davidson county markets.
• Wilson Bank & Trust: Lebanon, TN-based community bank serving Middle Tennessee with comparable footprint and relationship-banking model. Direct competitor in overlapping Tennessee counties with similar deposit, lending, and trust product mix.
• Pinnacle Financial Partners: Nashville-based commercial bank operating across Tennessee with similar community/commercial banking focus. Direct competitor for Middle Tennessee small business and wealth management relationships, though larger in scale with stronger brand recognition.

Regional players

• ServisFirst Bancshares: Birmingham, Alabama-based regional bank with similar size and commercial banking focus. Serves as a relevant Southeast regional peer, particularly given First Farmers' Northern Alabama market presence.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/firstfarmersbank
• LinkedInlinkedin.com/company/first-farmers-and-merchants-bank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Farmers and Merchants Bank