EXHIBIT 99.1

For additional information contact
Bobby Krimmel
Chief Financial Officer
(931) 380-8257

FIRST FARMERS AND MERCHANTS CORPORATION REPORTS SECOND QUARTER NET INCOME OF $2.7 MILLION, OR $0.56 PER COMMON SHARE

COLUMBIA, Tenn. (July 23, 2015) –First Farmers and Merchants Corporation, (“First Farmers”), the holding company for First Farmers and Merchants Bank (“the Bank”), today announced unaudited financial results for the quarter ending June 30, 2015, showing increases in earnings, loan growth, and net interest income.

Key highlights of First Farmers’results for the second quarter of 2015 include:

• Net income of $2.7 million or $0.56 per common share, up 3% from $2.6 million or $0.53 per common share for the previous quarter, and up 4% from $2.6 million or $0.52 per common share for the year-earlier quarter;

• Loan growth of $10 million or 2% from the previous quarter and $67 million or 11% compared with the year-earlier quarter;

• Deposit growth of $90 million or 9% compared with the year-earlier quarter; and

• A decline in nonperforming assets of $2.7 million or 52% compared with the previous quarter and $8.9 million or 78% compared with the year-earlier quarter.

Commenting on the results, T. Randy Stevens, Chairman and Chief Executive Officer of First Farmers, said “We are pleased to report another solid quarter of earnings per share growth, while at the same time reporting credit quality metrics which demonstrate further improvements in portfolio risks.” Stevens added, “Our continued strategy of expansion into the Williamson and Davidson County markets, while continuing to serve our traditional markets at the highest level, and the hiring of high quality bankers has allowed us to record double-digit year-over-year loan growth.”

Second Quarter 2015 Results of Operations

The $85,000 increase in reported quarterly earnings for the second quarter of 2015 compared with the previous quarter was primarily driven by increased loan volume. The $105,000 increase in reported quarterly earnings for the second quarter of 2015 compared with the year-earlier quarter was primarily driven by increased loan volume and improvement in the corporation’s effective tax rate for income taxes.

For the second quarter of 2015, First Farmers continued to achieve solid loan growth of $10 million or 2% from the previous quarter and advancing $67 million or 11% compared with the year-earlier quarter, driven primarily by increased commercial and residential mortgage lending. While down 1% from the previous quarter, total deposits increased 9% from the year-earlier quarter from $967 million to $1.057 billion.

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FFMH Reports Second Quarter 2015 Results

July 23, 2015

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Asset Quality

Total nonperforming assets decreased to $2.5 million, or 0.21% of total assets, compared to $5.2 million, or 0.43% of total assets, for the previous quarter and declined from $11.4 million, or 1.02% of total assets, compared to the year-earlier quarter. Net recoveries to average loans were 0.19% for the second quarter of 2015 compared to 0.01% for the previous quarter and 0.01% for the year-earlier quarter. As a result of continued improvement in credit trends, no provision to the allowance for loan losses was recorded during the second quarter of 2015, which represented 1.25% of total loans outstanding as of June 30, 2015 versus 1.18% for the previous quarter and 1.40% for year-earlier quarter.

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 19 banking locations in eight Middle Tennessee counties. As of June 30, 2015, First Farmers reported total assets of approximately $1.2 billion and total shareholders’equity of approximately $116 million. For more information about First Farmers, visit First Farmers and Merchants Bank on the Web at www.myfirstfarmers.com under the "Our Story" and "Investor Relations" tab.

Cautionary Note Regarding Forward Looking Statements

Except for historical information contained herein, the matters included in this news release and other information in First Farmers’filings with the Securities and Exchange Commission (the “SEC”) may contain certain "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements can be identified by the fact that they do not relate strictly to historical or current facts 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. The forward-looking statements contained herein represent the current expectations, plans or forecasts of First Farmers’future results and revenues. First Farmers intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of these safe harbor provisions. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond First Farmers’control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. Investors should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks, discussed under Item 1A. "Risk Factors" of First Farmers’Annual Report on Form 10-K for the year ending December 31, 2014, and in any of First Farmers subsequent filings with the SEC. Further information concerning First Farmers and its business, including additional factors that could materially affect First Farmers’financial results, is included in its other filings with the SEC.

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FFMH Reports Second Quarter 2015 Results

July 23, 2015

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