The board of Converse, Ind.-based First Farmers Financial Corp. authorized a 2-for-1 stock split of its common stock, payable June 15 to stockholders of record as of June 8.

Following the split, the company's shares of common stock outstanding will increase to 7,164,934 from 3,582,467.

The additional shares will be distributed by the company's transfer agent, Computershare.

First Farmers Financial also said that shareholders approved the proposed amendment to the articles of incorporation to increase the number of authorized common shares from 5 million to 10 million, and the proposed amendment to the articles of incorporation providing that amendment or repeal of the articles of incorporation requires the shareholder vote specified in the Indiana Business Corporation Law.