Welcome to our dedicated page for Farmers National Banc news (Ticker: FMNB), a resource for investors and traders seeking the latest updates and insights on Farmers National Banc stock.
Farmers National Banc Corp (symbol: FMNB) is a diversified financial services company headquartered in Canfield, Ohio, founded in 1887. With approximately $1.6 billion in banking assets and $1 billion in trust assets, Farmers National Banc Corp stands as a robust and dependable institution in the financial sector. The company operates through several wholly-owned subsidiaries, including Farmers National Bank, Farmers Trust Company, and Farmers National Insurance, LLC.
Farmers National Bank is a full-service national bank offering commercial and retail banking services across 39 locations in Mahoning, Trumbull, Columbiana, Stark, Summit, Wayne, Medina, and Cuyahoga counties in Ohio, as well as Beaver County in Pennsylvania. The bank provides a wide range of services to meet the financial needs of both individuals and businesses, ensuring a high level of customer satisfaction and community engagement.
Farmers Trust Company operates two trust offices offering services in the same geographic markets as the bank. This subsidiary focuses on trust and retirement consulting, helping clients manage and grow their assets with confidence.
Farmers National Insurance, LLC, another wholly-owned subsidiary of Farmers National Bank, offers a variety of insurance products tailored to the diverse needs of their clientele. From personal insurance policies to comprehensive business coverage, the company ensures that all aspects of financial security are addressed.
Operating Segments: Farmers National Banc Corp operates primarily in two segments: the Bank segment and the Trust segment. The majority of the company’s revenue is derived from its banking operations, which include securities underwriting and dealing, insurance agency and underwriting activities, and merchant banking activities. This diversified approach helps to stabilize income streams and reduce risk.
In recent years, Farmers National Banc Corp has continued to innovate and expand its service offerings. The company remains committed to providing superior financial solutions for its customers, associates, shareholders, and the community. Through strategic partnerships and forward-thinking initiatives, Farmers National Banc Corp continues to uphold its reputation as a leading financial services provider in the region.
Farmers National Banc Corp (NASDAQ: FMNB) has appointed Michael Matuszak as the new Executive Vice President and Chief Operating Officer. Matuszak brings over 25 years of experience from various sectors including financial services and healthcare. He will focus on enhancing operational strategies to improve efficiency. Kevin Helmick, President and CEO, expressed confidence in Matuszak's ability to drive process improvements. Farmers National, headquartered in Canfield, Ohio, manages $4.1 billion in banking assets and operates numerous banking locations across Ohio and Pennsylvania.
Farmers National Banc Corp. (FMNB) and Emclaire Financial Corp. (EMCF) announced regulatory approvals for their merger, expected to finalize in January 2023. The merger consolidates Emclaire’s Farmers National Bank of Emlenton into Farmers National Bank. The deal, initiated on March 23, 2023, aims to enhance market presence and operational efficiency. Farmers National Banc Corp. has $4.1 billion in banking assets and a wealth management portfolio worth $2.9 billion as of September 30, 2022.
Farmers National Banc Corp. (NASDAQ: FMNB) announces the appointment of André Thornton to its Board of Directors, effective January 1, 2023. Thornton, a Class II director with a term expiring in 2024, brings over 30 years of business experience, including success in the restaurant industry and as President and CEO of ASW Global, LLC. He will also serve on the Corporate Governance and Nominating Committee and the Board Enterprise Risk Management Committee. Farmers National Banc Corp. operates with $4.1 billion in banking assets and offers diversified financial services.
Farmers National Banc Corp. (NASDAQ: FMNB) announced a quarterly cash dividend of $0.17 per share on
Farmers National Banc Corp. (NASDAQ: FMNB) reported third quarter 2022 net income of $15.4 million, down from $16.0 million in 2021. Diluted earnings per share fell to $0.46 from $0.56 YoY. Excluding certain items, EPS would be $0.48. Loan growth was $27.3 million, or 4.6% annualized. The company experienced lower noninterest income, totaling $8.8 million, and increased expenses due to acquisitions and merger costs. Net interest income rose to $31.8 million. Regulatory approval for the pending acquisition of Emclaire Financial Corp. is expected soon.
Farmers National Banc Corp. (NASDAQ: FMNB) has appointed Terry A. Moore as the new Chairman of the Board, effective September 1, 2022. Moore, who joined the board in April 2014, has extensive experience in corporate governance and law, serving as Managing Director at a Canton-based law firm from 2001-2018. He also serves on several committees within the organization. Farmers National Banc, headquartered in Canfield, Ohio, boasts $4.1 billion in banking assets and operates numerous banking locations across multiple counties.
Farmers National Banc Corp. (NASDAQ: FMNB) has declared a quarterly cash dividend of $0.16 per share, with a record date of September 9, 2022 and payment date on September 30, 2022. The company, founded in 1887, is based in Canfield, Ohio, and manages a total of $4.1 billion in banking assets. It operates 46 banking locations across multiple counties in Ohio and Pennsylvania, and holds $2.9 billion in wealth management assets as of June 30, 2022.
Farmers National Banc Corp. (NASDAQ: FMNB) reported a net income of $16.0 million for Q2 2022, up from $15.6 million year-over-year. Diluted earnings per share were $0.47, down from $0.55 in Q2 2021. Excluding certain items, EPS would be $0.49. Loan growth reached $89.6 million, or 15.7% annually, while the efficiency ratio improved to 48.5%. However, total stockholders' equity fell to $321.4 million, influenced by declines in available-for-sale securities due to rising U.S. treasury rates, impacting tangible book value.
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.
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.
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