Farmers National Banc Corp. Announces Board Addition

Rhea-AI Summary

Farmers National Banc Corp. (NASDAQ: FMNB) has appointed Frank J. Monaco to its Board of Directors effective July 27, 2021. Monaco, a Senior Partner at 415 Group, brings extensive business and consulting experience, particularly in mergers and acquisitions. He holds multiple certifications including CPA and CFF. His addition to the board aims to enhance the leadership structure of Farmers National, which manages $3.3 billion in banking assets and $3.1 billion in wealth management assets as of June 30, 2021. This strategic move reflects the company's commitment to strong governance.

Positive

• Appointment of Frank J. Monaco to the Board of Directors enhances leadership expertise.
• Monaco's extensive background in consulting and mergers supports strategic growth.
• Farmers National Banc Corp. maintains a robust asset base of $3.3 billion.

Negative

• None.

Farmers National Banc Corp. (NASDAQ: FMNB) (“Farmers”) welcomes a member to its Board of Directors, Mr. Frank J. Monaco, who will bring a wealth of business and consulting experience to his new leadership role with Farmers. Mr. Monaco was appointed by the Board of Directors effective July 27, 2021 as a Class III director with a term expiring in 2022.

Frank J. Monaco (Photo: Business Wire)

Mr. Monaco currently serves as a Senior Partner at 415 Group, a certified public accounting, business consulting and IT services firm in Canton, Ohio. In this role, he leads the consulting division of the firm, which includes business and estate planning, business valuations and merger support. Monaco has been with 415 Group for 27 years and previously served as Managing Partner from 2003-2019.

He also holds accreditations of Certified Public Accountant (CPA) and is Certified in Financial Forensics (CFF), along with being Accredited in Business Valuation (ABV) and part of the National Association of Certified Valuation Analysts (CVA).

Kevin J. Helmick, Farmers National Bank President & CEO stated, “With an extensive background in consulting and mergers and acquisitions, we welcome Frank and believe his experience will continue to solidify the leadership of our Board of Directors.”

Monaco also is an active member of his community, serving on or have served on a variety of boards of directors including the Canton Regional Chamber of Commerce, Stark Development Board, Stark County Port Authority and the Pro Football Hall of Fame. He currently resides in Canton with his wife Sherri.

ABOUT FARMERS NATIONAL BANC CORP.

Founded in 1887, Farmers National Banc Corp. is a diversified financial services company headquartered in Canfield, Ohio, with $3.3 billion in banking assets. Farmers National Banc Corp.’s wholly-owned subsidiaries are comprised of The Farmers National Bank of Canfield, a full-service national bank engaged in commercial and retail banking with 41 locations in Mahoning, Trumbull, Columbiana, Stark, Wayne, Medina, Geauga and Cuyahoga Counties in Ohio and Beaver County in Pennsylvania; Farmers Trust Company, which operates five trust offices and offers services in the same geographic markets and Farmers National Insurance, LLC. Total wealth management assets under care at June 30, 2021 were $3.1 billion.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210802005050/en/

FAQ

Who is the new member of the Board of Directors at Farmers National Banc Corp.?

Frank J. Monaco was appointed to the Board of Directors at Farmers National Banc Corp. effective July 27, 2021.

What experience does Frank J. Monaco bring to Farmers National Banc Corp.?

Frank J. Monaco brings extensive business and consulting experience, particularly in mergers and acquisitions.

When was Frank J. Monaco appointed to the Board of Directors of FMNB?

Frank J. Monaco was appointed on July 27, 2021.

What are the financial assets of Farmers National Banc Corp.?

Farmers National Banc Corp. manages $3.3 billion in banking assets and $3.1 billion in wealth management assets.