FFNM Profile
First
Federal of Northern Michigan Bancorp, Inc. (FFNM) is a bank holding
company that operates through its subsidiary, First Federal of
Northern Michigan. The bank provides a range of financial products and
services to individuals and businesses in Michigan, including deposit
accounts, loans, mortgages, and wealth management services.
First Federal of Northern Michigan had a market capitalization of
approximately $36 million. The company's total assets as of the end of
fiscal year 2020 were $357 million, representing a slight decrease
compared to the previous year. Net income for the same period was $1.7
million, a decrease from $2.7 million in the previous year.
First Federal of Northern Michigan has a strong focus on community
involvement, and has been recognized for its commitment to supporting
local communities.
The banking industry is subject to various
risks, including changes in interest rates, regulatory risks, and
economic downturns. However, First Federal of Northern Michigan's
focus on community involvement and customer service should position it
well for continued success in the future.
First Federal of
Northern Michigan's stock is listed on the OTC Pink market under the
ticker symbol FFNM. Investors should carefully consider their
investment objectives, risk tolerance, and other factors before
investing in First Federal of Northern Michigan or any other banking
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