Teresa Matthews Joins First Farmers as Secondary Mortgage Operations Manager

First Farmers and Merchants Corporation (OTC Pink: FFMH), the holding company for First Farmers and Merchants Bank, today announced that Teresa Matthews has joined the bank as Secondary Mortgage Operations Manager.

“We are pleased to welcome Teresa Matthews to our team as Secondary Mortgage Operations Manager,” stated Brian K. Williams, First Farmers’ Chairman and CEO. “Teresa brings over two decades of extensive experience in mortgage operations and secondary market management. Her expertise will be invaluable as we continue to expand our mortgage services.”

“Teresa will be transitioning into her new role with guidance from our existing leadership team to ensure a seamless integration. We are confident that her background in managing risk, quality assurance, and secondary markets will significantly contribute to our strategic objectives,” Williams added.

Prior to joining First Farmers, Matthews served as Mortgage Operations Manager and Senior Vice President at Lineage Bank in Franklin, Tennessee. Her responsibilities included overseeing all aspects of mortgage operations, implementing software solutions like the Encompass Loan Origination System, and key investor relationships, as well as establishing a relationship with Freddie Mac. Matthews also managed secondary market activities such as pricing, rate establishment, and interest rate risk management.

Previously, Matthews held mortgage related roles at Franklin Synergy Bank, Cumberland Bank, and Franklin Financial Mortgage, Inc. At Franklin Synergy Bank, she managed all secondary market operations and developed comprehensive management reports for secondary marketing controls. At Cumberland Bank, she oversaw mortgage operations, implemented essential software systems, and monitored production volumes and budgets. At Franklin Financial Mortgage, Inc., she handled pricing, rate establishment, and ensured that mortgages met investor standards.

Matthews has completed numerous courses and certifications from the Mortgage Bankers Association, the American Institute of Banking, and Cannon Financial Institute.

About First Farmers and Merchants Corporation and First Farmers and Merchants Bank

First Farmers and Merchants Corporation is the holding company for First Farmers and Merchants Bank, a community bank serving the Middle Tennessee area through 22 offices in seven Middle Tennessee counties. As of March 31, 2024, First Farmers reported total assets of approximately $1.9 billion, total shareholders’ equity of approximately $124 million, and administered trust assets of $6.0 billion. For more information about First Farmers, visit us on the Web at www.myfirstfarmers.com under “Investor Relations.”

Cautionary Note Regarding Forward Looking Statements

This news release may contain certain “forward-looking statements” that represent First Farmers’ expectations or beliefs concerning future events and often use words or phrases such as “opportunities,” “prospects,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “intends” or similar expressions. Such forward-looking statements contained herein represent the current expectations, plans or forecast of First Farmers’ and are about matters that are inherently subject to risks and uncertainties. These statements are not guarantees of future results or performance and readers are cautioned to not place undue reliance on them, whether included in this news release or made elsewhere from time to time by First Farmers or on its behalf. First Farmers disclaims any obligation to update such forward-looking statements.


Robert E. Krimmel

Chief Administrative Officer

(931) 380-8257

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