Timothy E. Pettus, Vice Chairman of First Farmers and Merchants Bank, Announces His Retirement

First Farmers and Merchants Corporation (OTC Pink: FFMH), the holding company for First Farmers and Merchants Bank, today announced that Timothy E. Pettus will retire as Vice Chairman of the Bank on December 31, 2021, having served First Farmers in leadership positions over the past 19 years.

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Timothy E. Pettus will retire as Vice Chairman of First Farmers and Merchants Bank on December 31, 2021, having served First Farmers in leadership positions over the past 19 years. (Photo: Business Wire)

“We are very pleased to recognize the contributions of Tim Pettus to First Farmers and wish him continued success following his retirement,” stated T. Randy Stevens, Chairman and Chief Executive Officer of First Farmers. “Tim announced his plans to retire at year end as Vice Chairman of the Bank. He will continue to serve as Vice Chairman of the Company and a member of First Farmers’ Board of Directors until our annual meeting in April 2022 when he will have reached the Company’s mandatory retirement age.

“Tim joined First Farmers in 2002 as our Regional President after serving as the Senior Banking Executive in Lawrence County, Tennessee for Bank of America. He was named our Bank’s President in January 2007 and served for nine years. Under his leadership, the Bank experienced solid growth and expansion in our markets and contributed to the leadership position we hold in our markets today. He is recognized for building our sales culture and spearheading our entry into Davidson and Williamson counties while serving as our President. He was named Vice Chairman of our Bank and Company in January 2016.

“Tim’s banking career spans 48 years. He joined Commerce Union Bank in 1973 as a trainee and was promoted to bank officer a year later. He rose to Executive Vice President of Commerce Union prior to its acquisition by Sovran Bank, NationsBank and then Bank of America. In 2020, Tim was named a Leader in Banking Excellence by the Tennessee Bankers Association, an honor that recognizes elite bankers who have excelled in the areas of banking, community service and civic involvement.”

Pettus has contributed his time to supporting a wide range of civic and educational programs across Middle Tennessee. He has served as Chairman for five human development/educational foundations, served on the board of trustees for Middle Tennessee State University and the Columbia State Foundation, and was co-founder of the Lawrence County Education Foundation. As a native of Lawrence County, he held a number of leadership roles including past president of the Lawrence County Chamber of Commerce, Lawrence County Grand Jury Foreman for 21 years, Chair of the 21^st Century Council for Lawrence County and member of the Lawrence County Economic Development Board. He was named Lawrence County’s “Citizen of the Year” in 1993.

Pettus’ contributions and influence extended beyond the local community with his service as a Board Member for the Middle Tennessee Council of the Boy Scouts, former director of the Tennessee Housing Development Agency, past chairman of the HCA Crockett Hospital and the board of the Tennessee Bankers Association. He also served as President of the Kiwanis Club of Lawrenceburg and taught an adult Sunday School class at Coleman Memorial United Methodist Church.

“It has been an honor to work with Tim Pettus at First Farmers over the past 19 years. He has been a friend, a leader for our team and a strong advocate for our community. He has also served as a great mentor for our team and has helped prepare the next generation of bankers at First Farmers to serve our customers in the future,” concluded Stevens.

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 September 30, 2021, First Farmers reported total assets of approximately $1.9 billion, total shareholders’ equity of approximately $162 million, and administered trust assets of $6.2 billion. For more information about First Farmers, visit us on the Web at www.myfirstfarmers.com under “Investor Relations.”

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