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.
Overview of Farmers National Banc Corp
Farmers National Banc Corp (NASDAQ: FMNB) is a diversified financial services company headquartered in Canfield, Ohio. Established in 1887, the company has built a strong regional presence and operates through its wholly-owned subsidiaries, offering a comprehensive suite of financial products and services. Farmers National Banc Corp serves both individual and institutional clients through its banking, trust, and insurance operations, providing a holistic approach to financial management.
Core Business Segments
The company operates primarily through two business segments:
- Bank Segment: This segment is driven by Farmers National Bank, a full-service national bank that provides commercial and retail banking services. With a network of 39 locations across Mahoning, Trumbull, Columbiana, Stark, Summit, Wayne, Medina, and Cuyahoga counties in Ohio, as well as Beaver County in Pennsylvania, the bank offers a wide range of financial solutions, including deposit accounts, loans, and payment services.
- Trust Segment: Farmers Trust Company operates two trust offices and specializes in trust and estate administration, retirement consulting, and financial planning services. This segment caters to clients seeking personalized wealth management solutions and estate planning expertise.
Insurance and Financial Services
In addition to its banking and trust operations, Farmers National Banc Corp extends its offerings through Farmers National Insurance, LLC. This subsidiary provides a variety of insurance products, enabling clients to address their risk management and coverage needs under one umbrella. By integrating insurance services into its portfolio, the company enhances its ability to deliver comprehensive financial solutions to its customers.
Market Position and Geographic Focus
Farmers National Banc Corp maintains a strong regional presence, focusing on communities in Ohio and Pennsylvania. Its localized approach allows the company to build deep relationships with customers and tailor its services to meet the specific needs of its markets. This regional focus, combined with its diversified service offerings, positions the company competitively against larger national banks and more specialized financial institutions.
Competitive Differentiation
What sets Farmers National Banc Corp apart is its diversified business model. While many regional banks rely heavily on traditional banking services, Farmers leverages its trust and insurance segments to create additional revenue streams. This diversification not only strengthens the company’s financial stability but also provides clients with a one-stop shop for their banking, investment, and insurance needs. Additionally, the company’s commitment to innovation and customer-centric solutions ensures that it remains relevant in an increasingly digital financial landscape.
Commitment to Community and Customer-Centricity
Farmers National Banc Corp demonstrates a strong commitment to the communities it serves. Its localized operations and focus on building long-term relationships underscore its dedication to customer satisfaction and community development. By aligning its services with the needs of its regional markets, the company fosters trust and loyalty among its clients.
Conclusion
Farmers National Banc Corp is a well-established financial services provider with a unique blend of banking, trust, and insurance operations. Its diversified business model, regional focus, and commitment to innovation make it a significant player in the financial services industry. By delivering comprehensive financial solutions and maintaining a strong presence in its local markets, Farmers National Banc Corp continues to meet the evolving needs of its clients while navigating the challenges of a competitive and regulated industry.
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.
Farmers National Banc Corp. (NASDAQ: FMNB) announced a quarterly cash dividend of $0.16 per share on
Founded in 1887 and headquartered in Canfield, Ohio, Farmers National Banc Corp. holds $4.2 billion in banking assets and operates multiple subsidiaries, including The Farmers National Bank of Canfield and Farmers Trust Company, managing $3.1 billion in wealth management assets.
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 (NASDAQ: FMNB) announces leadership changes in the Canton Region following the retirement of Joseph Gerzina as Senior Vice President, Regional President – West, effective April 30, 2022. Gerzina, who has been integral in expanding Farmers' Stark County presence, will assist in the transition. William C. Shivers has been appointed as his successor, overseeing growth in the Akron, Canton, and Cleveland areas, while Michael Mudrak and Patrick Renner will take on new roles within the team. Farmers continues to emphasize its commitment to leadership and regional growth.
Farmers National Banc Corp. and Emclaire Financial Corp. have announced a merger agreement valued at approximately
Farmers National Banc Corp. (FMNB) has declared a quarterly cash dividend of $0.16 per share, marking a 45% year-over-year increase. The record date for this dividend is March 11, 2022, and it will be payable on March 31, 2022. This signifies the company’s seventh consecutive year of dividend increases, with an annualized cash dividend growth from $0.12 per share in 2015 to $0.64 per share, reflecting a 27% compound annual growth rate. This growth is attributed to strong financial performance and the successful acquisition of Cortland Bancorp.
Farmers National Banc Corp. (FMNB) reported Q4 2021 net income of $5.7 million ($0.18/share), down from $11.4 million ($0.40/share) year-over-year. Excluding one-time items, core net income was $16.2 million ($0.50/share). The company completed the acquisition of Cortland Bancorp, adding $841.7 million in assets. Total assets reached $4.14 billion, with gross loans of $2.33 billion. Return on average assets (non-GAAP) was 1.65%, while the efficiency ratio was 47.4%. Noninterest income fell to $9.5 million. Total deposits grew to $3.55 billion, driven by the acquisition.
The Board of Directors of Farmers National Banc Corp. announced a 27% increase in its quarterly cash dividend to
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