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Farmers National Banc Corp - FMNB STOCK NEWS

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 and Heritage

Farmers National Banc Corp, established in 1887 and headquartered in Canfield, Ohio, is a diversified financial services institution offering a broad spectrum of solutions through its integrated business model. The company is structured as a one-bank holding entity engaged in banking, trust, insurance agency and underwriting, securities underwriting, and merchant banking activities. With a rich history spanning more than a century, Farmers National Banc Corp has cultivated deep roots in the local communities it serves in Ohio and Pennsylvania.

Core Business Segments

The company operates primarily through two major segments: the Bank segment and the Trust segment. The Bank segment encompasses commercial and retail banking operations, where the institution leverages its expertise in areas such as securities underwriting, underwriting and merchant banking activities to deliver reliable financial services. This segment is a cornerstone of the company's revenue model and is bolstered by a geographically diverse network of branches that support both individual and business lending, deposits, and related banking services.

The Trust segment addresses a range of services including trust management, retirement consulting, and overall financial management, catering to both individual and institutional client needs. This dual-structure enables the company to offer a comprehensive suite of financial solutions that effectively complements its traditional banking functions.

Subsidiary Structure and Service Diversity

Farmers National Banc Corp further extends its expertise through its wholly-owned subsidiaries. Key among these are:

  • Farmers National Bank: A full-service national bank engaged in both commercial and retail banking, with a significant branch network spanning several counties in Ohio and parts of Pennsylvania. This bank provides a range of services from everyday banking transactions to complex commercial lending.
  • Farmers Trust Company: Operating specialized trust offices, this subsidiary offers trust services, retirement planning, and financial advice, ensuring clients have access to tailored solutions that meet long-term financial goals.
  • Farmers National Insurance, LLC: This subsidiary focuses on providing a variety of insurance products, reinforcing the company’s integrated financial services approach by combining banking, trust, and insurance solutions under one umbrella.

Market Position and Industry Relevance

Farmers National Banc Corp has positioned itself as an important player in the domestic financial services sector. Its operations span key areas of the industry including commercial banking, trust services, and merchant banking – terms that carry significant weight in the financial sector due to the specialized expertise they imply. The company’s ability to offer a range of interconnected services not only enhances customer convenience but also builds a resilient business model by diversifying revenue sources across multiple financial segments.

With a focus on deep community involvement and a commitment to continuous innovation within traditional banking and trust services, the institution addresses the needs of a broad client base. Farmers National Banc Corp adapts to evolving market demands by leveraging decades of industry experience and a strong local brand. This adaptability is crucial in competitive markets where financial institutions must balance stability, trustworthiness, and innovation.

Business Model and Operational Insights

The firm generates revenue through a combination of traditional banking activities and specialized financial services, including standard deposit and lending products, fee-based trust management, and insurance underwriting practices. The integration of these services results in a robust business model that supports sustainable operations while offering clients a holistic approach to managing their finances.

Each operating segment of the company is underpinned by a strategy focused on reliability, community service, and industry expertise – key tenets that have both historical and ongoing relevance. The strategic alignment of its banking and trust operations provides a stable platform for addressing diverse financial needs, which is particularly beneficial for long-standing institutional and individual clients seeking continuity and expertise.

Competitive Landscape and Strategic Differentiation

In a highly competitive field, Farmers National Banc Corp differentiates itself by its longstanding presence in the region and its ability to merge conventional banking practices with specialized trust and insurance services. The company’s strategic network of branches and service centers creates solid local market penetration. Furthermore, its integrated approach allows for seamless cross-selling opportunities across its service divisions, thereby reinforcing customer loyalty and market relevance.

By investing in innovative financial solutions while maintaining a focus on personalized local services, the institution demonstrates a balanced approach to meeting both the immediate and long-term financial needs of its clients. Its commitment to quality service and operational competence is reflected in its comprehensive suite of offerings that successfully bridges the gap between traditional banking and modern financial management practices.

Conclusion

Farmers National Banc Corp’s long-standing history and integrated service offerings make it a noteworthy example of a diversified financial institution operating within the domestic banking, trust, and insurance sectors. Its commitment to traditional values, coupled with a nuanced understanding of modern financial market dynamics, has enabled it to maintain a resilient presence in its regional markets. Investors and informed analysts can appreciate the careful balance the company strikes in merging specialized financial services with a broad-based banking strategy, ensuring a well-rounded approach to managing a broad spectrum of client needs.

Rhea-AI Summary

Farmers National Banc Corp. (FMNB) announced the pricing of $75 million in fixed-to-floating rate subordinated notes due 2031. The notes carry a fixed rate of 3.125% for five years, then quarterly reset to the three-month SOFR rate plus 220 basis points. The offering is expected to close on November 17, 2021, with proceeds intended for general corporate purposes. CEO Kevin J. Helmick expressed satisfaction with investor interest, highlighting the financial flexibility provided by this debt issuance following the acquisition of Cortland Bancorp.

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Farmers National Banc Corp. has successfully completed its merger with Cortland Bancorp, enhancing its market position in Northeast Ohio. The merger increases Farmers' total assets to over $4.1 billion and its wealth management assets to exceed $3 billion, positioning it among Ohio's largest community banks. Following the merger, shares of Cortland are no longer traded. Two members from Cortland's board, Richard Thompson and Neil Kaback, join Farmers' Board of Directors, expected to bring diverse expertise to enhance shareholder value.

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Farmers National Banc Corp. (NASDAQ: FMNB) reported a record net income of $16.0 million for Q3 2021, or $0.56 per diluted share, marking a 47% increase from Q3 2020. Excluding merger costs, earnings per share rose to $0.58. Total assets grew to $3.32 billion, with deposits increasing by 9.8% year-over-year. The company announced the upcoming acquisition of Cortland Bancorp, expected to close on November 1, 2021. The efficiency ratio stood at 46.0% and the net interest margin was 3.47%. They reported a negative provision for credit losses of $948,000.

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Farmers National Banc Corp. (FMNB) announced it received necessary regulatory approvals for merging with Cortland Bancorp. The merger will involve Cortland’s bank, The Cortland Savings and Banking Company, being integrated into Farmers National Bank. The merger is contingent on Cortland’s shareholders’ approval and other customary closing conditions, with completion anticipated in Q4 2021. Farmers, headquartered in Canfield, Ohio, manages over $3.3 billion in banking assets and has a diversified financial service structure.

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Farmers National Banc Corp. (NASDAQ: FMNB) and Cortland Bancorp (NASDAQ: CLDB) announced a merger proposal with an election deadline for Cortland shareholders set for October 25, 2021. Shareholders can choose between cash or Farmers common shares for their Cortland common stock. The merger requires approval from Cortland's shareholders at a special meeting on October 26, 2021. Relevant election materials were sent starting September 27, 2021, and questions can be directed to Georgeson LLC, the Information Agent.

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Farmers National Banc Corp. (NASDAQ: FMNB) announced a quarterly cash dividend of $0.11 per share, with a record date of September 10, 2021 and payment on September 30, 2021. The company, founded in 1887 and headquartered in Canfield, Ohio, holds $3.3 billion in banking assets. Its subsidiaries include The Farmers National Bank of Canfield and Farmers Trust Company, managing $3.1 billion in wealth management assets.

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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.

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Farmers National Banc Corp. (FMNB) reported net income of $15.6 million, or $0.55 per diluted share for Q2 2021, up from $11.0 million, or $0.39 per share in Q2 2020. Excluding acquisition costs, net income was $15.7 million. The return on average assets and equity improved to 1.90% and 17.17% respectively. Loans decreased 8.8% to $1.96 billion, primarily due to a reduction in PPP loans. Deposits grew 17% to $2.8 billion. Farmers announced a merger with Cortland Bancorp, bolstering its market share in Northeast Ohio, expected to close in Q4 2021.

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Farmers National Banc Corp. (FMNB) has announced a merger agreement with Cortland Bancorp Inc. (CLDB), allowing Cortland shareholders to choose between $28.00 per share in cash or 1.75 shares of Farmers' stock. The transaction values Cortland at approximately $124 million, or $29.14 per share, based on Farmers' June 22, 2021 closing price. The merger is expected to qualify as a tax-free reorganization and close in Q4 2021, pending shareholder and regulatory approvals. Cortland's executives will join Farmers' management team post-merger.

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Farmers National Banc Corp. (NASDAQ: FMNB) announces leadership changes in its Accounting and Finance Executive Group. Chief Financial Officer Carl D. Culp will retire on August 15, 2021, after 36 years in the industry, including 25 years at Farmers. He will offer advisory services during the transition. Troy Adair, formerly with Premier Bank, will succeed Culp as CFO, while Joseph Sabat has been promoted to Vice President, Chief Accounting Officer. President and CEO Kevin Helmick emphasized these appointments as a commitment to high performance.

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FAQ

What is the current stock price of Farmers National Banc (FMNB)?

The current stock price of Farmers National Banc (FMNB) is $13.16 as of April 1, 2025.

What is the market cap of Farmers National Banc (FMNB)?

The market cap of Farmers National Banc (FMNB) is approximately 494.3M.

What are the primary services offered by Farmers National Banc Corp?

Farmers National Banc Corp provides a wide range of financial services including commercial and retail banking, trust management, insurance underwriting, securities underwriting, and merchant banking activities.

How is the company structured?

The company operates through two main segments: the Bank segment and the Trust segment, with additional services provided through wholly-owned subsidiaries such as Farmers National Bank, Farmers Trust Company, and Farmers National Insurance.

In which industries does Farmers National Banc Corp operate?

The firm is active in the domestic banking, trust, retirement consulting, insurance, and financial management industries, addressing the needs of both individual and institutional clients.

What geographical regions does the company serve?

Farmers National Banc Corp primarily serves communities in Ohio and parts of Pennsylvania, with a network of branches and trust offices strategically located to ensure robust regional presence.

How does the company differentiate itself in the competitive financial services market?

The company leverages its long-established history, integrated service model, and commitment to local communities, combining traditional banking with specialized trust and insurance services to offer a comprehensive financial solution.

What does the Trust segment encompass?

The Trust segment includes services such as trust management, retirement consulting, and financial planning, providing a holistic approach to long-term financial management and client financial security.

How does Farmers National Banc Corp integrate insurance services within its business model?

Through its subsidiary, Farmers National Insurance, the company offers a range of insurance products that complement its banking and trust operations, enhancing the overall value proposition to customers.

What role does merchant banking play in the company’s operations?

Merchant banking activities, along with securities underwriting and underwriting services, form part of the company's broader strategy to offer diverse financial solutions and support complex financing needs.
Farmers National Banc Corp

Nasdaq:FMNB

FMNB Rankings

FMNB Stock Data

494.26M
36.08M
4.04%
40.86%
0.58%
Banks - Regional
State Commercial Banks
Link
United States
CANFIELD