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 (FMNB) provides comprehensive financial services through banking, trust, and insurance operations across Ohio and Pennsylvania. This news hub offers investors and stakeholders centralized access to official updates from this established institution founded in 1887.
Track key developments including quarterly earnings, strategic acquisitions, leadership announcements, and regulatory filings. Our curated collection ensures timely access to press releases and verified news impacting FMNB's commercial banking, trust management, and insurance underwriting activities.
Explore updates from Farmers National Bank branches, Farmers Trust Company services, and Farmers National Insurance operations. Content is organized for quick scanning while maintaining compliance with financial disclosure standards. Bookmark this page for efficient monitoring of dividend announcements, market expansions, and service innovations.
Stay informed about this NASDAQ-listed company's community-focused initiatives and financial performance through our maintained news archive. Regular updates provide continuity for analyzing FMNB's position in regional banking and integrated financial services.
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.
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.
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.
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.
On May 25, 2021, Farmers National Banc Corp. (NASDAQ: FMNB) declared a quarterly cash dividend of $0.11 per share. The record date for this dividend is June 11, 2021, with payment scheduled for June 30, 2021. Farmers National Banc Corp., founded in 1887, operates as a diversified financial services company, holding $3.3 billion in banking assets. Its subsidiaries include The Farmers National Bank of Canfield, Farmers Trust Company, and Farmers National Insurance, which collectively manage $2.9 billion in wealth management assets as of March 31, 2021.
Farmers National Banc Corp. (FMNB) reported strong financial results for Q1 2021, posting net income of $14.6 million or $0.51 per diluted share, up from $8.6 million or $0.30 in Q1 2020. The annualized return on average assets and equity increased to 1.87% and 16.81%, respectively. Total loans grew 3.1% to $2.04 billion, bolstered by $136.8 million in Paycheck Protection Program (PPP) loans. Noninterest income surged by 34.5% to $10.6 million, while noninterest expenses decreased by 5.17%. The efficiency ratio improved significantly to 48.24%. Farmers continues to provide financial assistance to COVID-19 affected customers.
On February 23, 2021, Farmers National Banc Corp. (NASDAQ: FMNB) declared a quarterly cash dividend of $0.11 per share. The dividend's record date is March 12, 2021, with payment to shareholders scheduled for March 31, 2021. The company, founded in 1887 and headquartered in Canfield, Ohio, has $3 billion in banking assets and operates numerous banking locations across Ohio and Pennsylvania. As of December 31, 2020, total wealth management assets under care stood at $2.8 billion.
Farmers National Banc Corp. (FMNB) reported strong financial results for Q4 and the full year ended December 31, 2020. Net income for Q4 was $11.4 million ($0.40/share), up from $9.7 million ($0.35/share) in Q4 2019. Annual net income rose to $41.9 million ($1.47/share), compared to $35.8 million ($1.28/share) in 2019. Loans increased 14.7% year-over-year to $2.08 billion. However, non-performing assets rose to 0.45%. The efficiency ratio improved to 50.25%. Farmers offered financial assistance to customers during the pandemic, facilitating $199.8 million in PPP loans for 1,714 businesses.
Farmers National Banc Corp. (NASDAQ: FMNB) declared a quarterly cash dividend of $0.11 per share on November 24, 2020. The record date for this dividend is December 11, 2020, and it will be payable to shareholders on December 31, 2020. This highlights the company’s commitment to returning value to its shareholders.
Farmers National Banc Corp. is a diversified financial services firm with $3 billion in banking assets, operating through its various subsidiaries.
Farmers National Banc Corp. (FMNB) reported net income of $10.9 million or $0.38 per diluted share for Q3 2020, up from $9.2 million or $0.33 per share in Q3 2019. Year-to-date net income reached $30.5 million, representing an increase of 16.9% year-over-year. Total loans grew 20.4% to $2.15 billion year-over-year, with a 10.1% increase when excluding acquisitions. The loan-to-deposit ratio was 84.6%, while annualized return on average assets stood at 1.45%.
