On January 26, 2015, the employment of the principal financial officer of First Farmers and Merchants Corporation and First Farmers and Merchants Bank (the Bank), Ms. Patricia P. Bearden, was terminated effective immediately. On January 27, 2015, Brian K. Williams, the current Executive Vice President of the Bank, was appointed as the acting Chief Financial Officer and Treasurer of the Corporation and the Bank. On July 16, 2013, Williams was promoted to Executive Vice President/Director of Corporate Planning.