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Farmers National Banc Corp. (FMNB) and Emclaire Financial Corp. (EMCF) announced that Emclaire's shareholders overwhelmingly approved the merger agreement dated March 23, 2022. Over 98% of votes favored the merger, which will see Emclaire merge into Farmers' newly formed subsidiary. Shareholders can choose to receive either 2.15 shares of Farmers common stock or $40.00 in cash for each Emclaire share. The merger, expected to finalize later in Q3 2022, aims to strengthen community banking efforts and enhance financial stability for customers.
The merger between Emclaire Financial Corp. (EMCF) and Farmers National Banc Corp. has announced a crucial election deadline at 5:00 p.m. EST on July 19, 2022. Emclaire shareholders can choose to receive either cash or Farmers shares for their common stock. This election is subject to proration and adjustments as outlined in the Merger Agreement. A special shareholder meeting to vote on the proposal is scheduled for July 20, 2022. Shareholders are encouraged to obtain necessary election materials and to possibly liaise with brokers for specific instructions.
Farmers National Banc Corp. (FMNB) and Emclaire Financial Corp. (EMCF) announced an election deadline of 5:00 p.m. EST, July 19, 2022, for Emclaire shareholders to choose their form of consideration for shares in connection with the proposed merger. Shareholders can elect to receive either cash or FMNB common shares, subject to proration and limitations outlined in the merger agreement. A special meeting for shareholder voting on the merger is scheduled for July 20, 2022. This merger is pending shareholder and regulatory approvals.
The Board of Directors of Emclaire Financial Corp (NASDAQ: EMCF) announced a quarterly cash dividend of $0.31 per common share on May 18, 2022. This dividend is payable on June 17, 2022, to shareholders of record as of June 1, 2022. Based on the stock’s closing price of $34.63 per share on May 17, 2022, the dividend provides an annualized yield of 3.6%. Chairman William C. Marsh emphasized that this action reflects the Corporation’s ongoing growth and strong financial performance.
Emclaire Financial Corp (NASDAQ: EMCF) has submitted its Annual Report on Form 10-K for 2021 to the SEC, featuring audited financial statements for the years ended December 31, 2021, and 2020. The report is accessible on both the SEC and the Corporation's websites. Emclaire Financial, the parent of Farmers National Bank of Emlenton, operates 19 offices across Pennsylvania and continues to trade under the symbol EMCF on NASDAQ.
Emclaire Financial Corp (NASDAQ:EMCF) reported a net income of $2.4 million, or $0.88 per diluted share, for Q1 2022, marking a 12.1% increase from $2.2 million in Q1 2021. This growth was driven by a $88,000 rise in net interest income and a $355,000 decrease in the provision for loan losses, despite declines in noninterest income. The company also announced a merger agreement with Farmers National Banc Corp. Total assets remained steady at $1.1 billion, with nonperforming assets increasing to $4.3 million. Stockholders' equity fell 10.6% to $86.7 million due to unrealized losses in securities.
Farmers National Banc Corp. (FMNB) reported a net income of $15.8 million for Q1 2022, translating to $0.47 per diluted share, a slight increase from $14.6 million or $0.51 per share in Q1 2021. Excluding certain items, earnings would have been $0.51 per share. Total assets rose to $4.21 billion, while gross loans dipped to $2.30 billion. Notably, Farmers completed the integration of Cortland Bancorp and announced a merger with Emclaire Financial Corp. (EMCF), expanding its presence into Pennsylvania. Challenges included a decline in net interest margin.
Farmers National Banc Corp. and Emclaire Financial Corp. announced a merger agreement valued at approximately $105 million. Emclaire shareholders can choose between $40 per share in cash or 2.15 shares of Farmers' stock. The transaction, which aims to enhance Farmers' presence in Pennsylvania, is contingent on shareholder and regulatory approvals and is expected to close in the second half of 2022. Following the merger, Emlenton Bank will merge into Farmers Bank, resulting in approximately $5.2 billion in assets across 66 locations.
Farmers National Banc Corp. and Emclaire Financial Corp. have announced a merger agreement valued at approximately
On February 16, 2022, Emclaire Financial Corp (NASDAQ: EMCF) announced a quarterly cash dividend of $0.31 per common share, payable on March 18, 2022, to shareholders on record as of March 1, 2022. This marks a 3.3% increase from the previous dividend of $0.30, highlighting the company’s strong financial performance. The annualized dividend yield stands at 4.3% based on the stock's closing price of $28.61 on February 15, 2022. Chairman William C. Marsh noted that the increase reflects ongoing growth.
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