First Farmers & Merchants Corp. · OTC:FFMH
First Farmers & Merchants — Shareholder Meeting (April 2026)
59 slides from First Farmers & Merchants's shareholder meeting presentation, Apr 21, 2026
Slide 1: 2026 Annual Meeting of Shareholders
Ss FARMERS. i FIRST FAR a MERCHANTS COR 2026 ANNUAL MEETING OF SHAREHOLDERS —— IL 21, 2026 ~ ay x ROOTED IN PURPOSE.
Slide 2: 2026 Annual Meeting Of Shareholders
2026 Annual Meeting Of Shareholders April 21, 2026
Slide 3: 2026 Annual Shareholders Meeting
2026 Annual Shareholders Meeting • Brian K. Williams, Chairman • Jill A. Giles, Corporate Secretary • Edwin W. Halliday, Jr., Inspector of Elections
Slide 4: Order of Business
Order of Business • Election of Directors • Ratification of Selection of Independent Registered Public Accounting Firm
Slide 5: Notice of Meeting
Notice of Meeting • Jill A. Giles, Corporate Secretary
Slide 6: Order of Business
Order of Business • Election of Directors • Ratification of Selection of Independent Registered Public Accounting Firm
Slide 7: Election of Directors
Election of Directors Jeffrey R. Ballard President & Chief Executive Officer Delta Dental of Tennessee
Slide 8: Election of Directors
Election of Directors Dr. Martin M. Chaney Chief Executive Officer Maury Regional Health
Slide 9: Election of Directors
Election of Directors Jonathan M. Edwards President & Chief Executive Officer Edwards Oil Company
Slide 10: Election of Directors
Election of Directors Dr. Christa S. Martin Executive Director of Belonging & Student Resources Columbia State Community College
Slide 11: Election of Directors
Election of Directors W. Eric Mayberry President Tennessee Farm Bureau Federation
Slide 12: Election of Directors
Election of Directors E. Marlee Mitchell Former Partner Holland & Knight LLP
Slide 13: Election of Directors
Election of Directors Jeffrey L. Pannell Chief Executive Officer Emeritus Tennessee Farmers Insurance Companies
Slide 14: Election of Directors
Election of Directors Richard C. Perko President & Chief Executive Officer Lee Company
Slide 15: Election of Directors
Election of Directors Gina B. Wolfe Co-Owner Wolfe Enterprises
Slide 16: Election of Directors
Election of Directors Brian K. Williams Chairman & Chief Executive Officer First Farmers and Merchants Bank
Slide 17: Order of Business
Order of Business • Election of Directors • Ratification of Selection of Independent Registered Public Accounting Firm
Slide 18: Report on Vote
Report on Vote • Edwin W. Halliday, Jr., Inspector of Elections
Slide 19: Board of Directors Elected April 21, 2026
Board of Directors Elected April 21, 2026 Jeffrey R. Ballard Dr. Martin M. Chaney Jonathan M. Edwards Dr. Christa S. Martin W. Eric Mayberry E. Marlee Mitchell Jeffrey L. Pannell Richard C. Perko Gina B. Wolfe Brian K. Williams
Slide 20: A Rich History
A Rich History GROWING TOWARD TOMORROW.
Slide 21: New Director
New Director Jeffrey R. Ballard President & Chief Executive Officer Delta Dental of Tennessee
Slide 22: Independent Registered Public Accounting Firm
Independent Registered Public Accounting Firm Fiscal Year Ending December 31, 2026
Slide 23: Rooted in Purpose. Growing Toward Tomorrow.
Rooted in Purpose. Growing Toward Tomorrow.
Slide 24: Historic Earnings Power
Historic Earnings Power • Record Net Income: $18.6 Million • Record Earnings Per Share: $4.65 Per Share
Slide 25: Generating Shareholder Value
Generating Shareholder Value FFMH Book Value Per Share 91.1% Increase in 3 Years $50.00 $45.00 $43.17 $40.00 $34.06 $35.00 $29.74 $30.00 $25.00 $22.59 $20.00 $15.00 $10.00 $5.00 $0.00 2022 2023 2024 2025
Slide 26: Generating Shareholder Value
Generating Shareholder Value $60.00 87.7% Increase in 3 Years FFMH Market Price Per Share 82.0% $50.00 $49.00 72.0% 62.0% $40.00 52.0% $35.25 42.0% $30.00 32.0% $26.10 $26.00 22.0% $20.00 12.0% 8.7% 2.0% $10.00 -8.0% 2022 2023 2024 2025 FFMH Market Price KBW Regional Banking Index
Slide 27: Cash Dividends Paid (per share)
Cash Dividends Paid (per share) 4th Consecutive Year with Dividend Increase (7.4% in 2025) $1.15 $1.12 $1.10 $1.05 $1.02 $1.00 $0.95 $0.95 $0.90 $0.85 2023 2024 2025
Slide 28: Rooted in Purpose. Growing Toward Tomorrow.
Rooted in Purpose. Growing Toward Tomorrow.
Slide 29: Remaining Nimble
Remaining Nimble • Business Banking • Mortgage Banking • Market Expansion
Slide 30: Our Team
GROWING TOWARD TOMORROW. Our Team | |
Slide 31: Tribute to Tenure
Tribute to Tenure Linda Hicks Paul Butts Andy Davis Operations Officer Executive Vice President, Senior Lending Advisor 42 Years of Service Branch Operations 10 Years of Service 40 Years of Service
Slide 32: Jill A. Giles, Chief Financial Officer & Corporate Secretary
Jill A. Giles Chief Financial Officer & Corporate Secretary
Slide 33: The Three-Year Story
The Three-Year Story ROA of 1.06% Net Income (in millions) Earnings Per Share $19.0 $4.70 $4.65 $18.6 $18.5 $4.50 $18.0 16.3% Increase 19.2% Increase $17.5 $4.30 $17.0 $4.10 $16.5 $16.0 $16.0 $3.90 $16.0 $3.90 $3.80 $15.5 $3.70 $15.0 $14.5 $3.50 2023 2024 2025 2023 2024 2025
Slide 34: Margin Expansion
Margin Expansion 3.50% 3.37% 3.14% 3.23% 3.02% 3.00% 2.82% 2.48% 2.55% 2.50% 2.39% 2.21% 2.00% 1.50% 1.41% 1.42% 1.40% 1.45% 1.00% 1.14% 0.91% 0.90% 0.93% 0.85% 0.50% 0.00% 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Cost on Liabilities Net Interest Margin
Slide 35: Non-Interest Income
Non-Interest Income (in millions) $14.2 $14.0 $14.0 $13.8 $13.8 $13.6 $13.4 $13.2 $13.2 $13.0 $12.8 2023 2024 2025
Slide 36: Total Assets Breakdown
Total Assets Breakdown As of Dec. 31, 2024 As of Dec. 31, 2025 Cash Cash 3% 6% Other Other Securities 6% Securities 6% 35% 32% Loans, net Loans, net 56% 56% Total Assets: $1.8 billion Growth from 2024 of 1.3% ($22.7M increase)
Slide 37: Non-Interest Expense & Efficiency
Non-Interest Expense & Efficiency ($ in millions) $45.0 72.00% $44.0 69.75% 68.62% 70.00% $43.0 $42.0 68.00% $41.0 66.04% 65.88% 66.00% 64.84% $40.0 63.04% $44.5 64.00% $39.0 $43.0 $38.0 62.00% $40.2 $40.2 $39.6 $37.0 $38.6 60.00% $36.0 $35.0 58.00% 2020 2021 2022 2023 2024 2025 Total Non-Interest E
Slide 38: Asset Quality
Asset Quality Non-Performing Loans to Total Loans 0.45% 0.39% 0.40% 0.40% 0.37% 0.35% 0.35% 0.33% 0.30% 0.25% 0.20% 0.15% 0.16% 0.10% 0.13% 0.13% 0.13% 0.13% 0.05% 0.00% 4Q24 1Q25 2Q25 3Q25 4Q25 First Farmers Peer Average* *TN community banks with asset sizes $1 Billion to $3 Billion
Slide 39: Capital
Capital Leverage 10.9% 5.0% Common Equity Tier 1 17.5% 6.5% Tier 1 Capital 17.5% 8.0% Total Capital 18.3% 10.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% First Farmers Well-Capitalized Regulatory Minimum
Slide 40: Shareholder Value
Shareholder Value • Over 72,000 Shares Repurchased, Returning $2.8M in Capital • 4th Consecutive Year with Dividend Increase (7.4% in 2025) • Dividend Yield of 2.29% | Dividend Payout of 24.14%
Slide 41: Rooted in Purpose. Growing Toward Tomorrow.
Rooted in Purpose. Growing Toward Tomorrow.
Slide 42: Rory A. Mallard, Chief Banking Officer
Rory A. Mallard Chief Banking Officer
Slide 43: Expanding Our Footprint: Chattanooga
Expanding Our Footprint: Chattanooga • Formalized presence in Hamilton County • Diversifying beyond the Middle Tennessee market
Slide 44: Meet the Chattanooga Team
Meet the Chattanooga Team Bryan Fryar Jennifer Griffin Allison Gifford Senior Commercial Commercial Relationship Commercial Loan Portfolio Relationship Manager Manager Manager
Slide 45: Dedicated Business Banking Division
Dedicated Business Banking Division • Led by Greg Davis • Added 2 new Relationship Managers in Q4 2025 • Focused on higher loan yields and lower-cost deposits Greg Davis Business Banking Director
Slide 46: SBA Lending Excellence
SBA Lending Excellence • Named U.S. SBA "Top Volume Lender" in Tennessee • Led by John Hollingsworth • Funded 10 projects totaling $2.7 million
Slide 47: Scaling Secondary Mortgage
Scaling Secondary Mortgage • Core infrastructure and guardrails established • Installed new department head and added loan officers • Positioned with the runway to actively scale and capture market Deborah Gadberry share Mortgage Sales Director
Slide 48: Rooted in Purpose. Growing Toward Tomorrow.
Rooted in Purpose. Growing Toward Tomorrow.
Slide 49: Molly T. Hissong, Chief Marketing & Communications Officer
Molly T. Hissong Chief Marketing & Communications Officer
Slide 50: Internal Communications: Starting from Within
Internal Communications: Starting from Within • Empowering Brand Ambassadors • Real-Time Industry Updates Equipping the frontline first • Ensuring They Have the Tools to Engage with Customers
Slide 51: Insight-Driven Marketing
Insight-Driven Marketing • Transitioned to data- driven, purpose-built campaigns
Slide 52: Insight-Driven Marketing
Insight-Driven Marketing • Launched 2 targeted debit card campaigns, directly driving new transaction volume and revenue • 3,000 customers targeted • $50,000 in revenue generated
Slide 53: Traditional Marketing
Traditional Marketing = —— SS RST FARME _/ Member FDIC FIRST FARMERS | myfirstfarmers.com (800)882-8378 FIRST FARMERS. GROWING TOWARD TOMORROW.
Slide 54: Digital Discoverability
Digital Discoverability • Complete Search Engine Optimization overhaul targeting specific branch locations • Nashville: Moved from Page 12 to Page 1 for "bank" • Franklin: Moved to top 3 results for “Business Bank”
Slide 55: High-Visibility Brand Placement
High-Visibility Brand Placement • Deployed QR codes on construction financing signs to capture immediate leads • Launched targeted SBA-focused billboards, immediately generating direct prospect calls
Slide 56: Rooted in Purpose. Growing Toward Tomorrow.
Rooted in Purpose. Growing Toward Tomorrow.
Slide 57: Our Future
Our Future Building relationships that compound over decades.
Slide 58: Strategic Vision: 2027 and Beyond
Strategic Vision: 2027 and Beyond • Anchored by a fortress balance sheet o Guided by a strong team of bankers • Mapping the Pathways o Grow o Differentiate o Opportunistic o Nimble o Continually Improve • Honoring our 117-year legacy
Slide 59: Rooted in Purpose. Growing Toward Tomorrow.
Rooted in Purpose. Growing Toward Tomorrow.
First Farmers & Merchants — Shareholder Meeting (April 2026) on 6ix