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. reports recurring developments in community banking, trust services, wealth management and insurance through its financial holding company structure. The company operates through The Farmers National Bank of Canfield, Farmers Trust Company and Farmers National Insurance, serving commercial and retail customers across Ohio and Pennsylvania.
Company news commonly covers quarterly earnings, net interest income and margin trends, loan and deposit activity, cash dividends, executive and board governance, and integration activity following the completed Middlefield Banc Corp. merger. Updates also address the branch franchise and the company’s trust and wealth management services.
Farmers National Bank has appointed David D. Dygert as Market President for the Columbus/Central Ohio Region. Dygert brings 26 years of leadership experience in banking and commercial real estate, including 19 years as EVP and Market President for two Columbus-region banks. This appointment follows Farmers' Q4 2024 acquisition of Dublin-based Crest Retirement Advisors through its subsidiary, National Associates, Inc.
Farmers National Banc Corp, founded in 1887, is an Ohio-based financial services company with $5.1 billion in banking assets and $4.2 billion in wealth management assets under care as of December 31, 2024. The company operates 62 banking locations across multiple counties in Ohio and Pennsylvania through its subsidiaries, including The Farmers National Bank of Canfield and Farmers Trust Company.
Farmers National Banc Corp. (NASDAQ: FMNB) has announced its latest quarterly dividend distribution. The Board of Directors declared a cash dividend of $0.17 per share on February 25, 2025. Shareholders will receive the dividend payment on March 31, 2025, with a record date set for March 14, 2025.
Farmers National Banc Corp. (FMNB) reported Q4 2024 net income of $14.4 million, or $0.38 per diluted share, compared to $14.6 million, or $0.39 per diluted share in Q4 2023. The company's net interest margin improved to 2.72% from 2.66% in Q3 2024, though down from 2.78% in Q4 2023.
Total assets stood at $5.12 billion, with loans at $3.27 billion and deposits at $4.27 billion. The company completed the acquisition of Crest Retirement Advisors in Dublin, OH, with wealth management assets reaching $4.2 billion. Non-performing loans increased to $22.8 million (0.70% of total loans), up from $19.1 million in Q3 2024.
The efficiency ratio improved to 56.4%, and the company maintained strong performance in fee-based businesses. Management expects continued net interest margin expansion in 2025 as funding costs decrease.
Farmers National Bank has appointed Tim Shaffer as Chief Banking Officer, promoting him from his previous role as Chief Credit Officer. Shaffer, who joined the bank in 2011, has held various leadership positions including Commercial Lending Team Leader, Director of Commercial Banking/Private Banking Services, Mahoning Valley Regional President, and Chief Lending Officer.
In his new role, Shaffer will oversee the strategy and execution of credit, commercial and mortgage lending areas. The appointment is described as a key element of the organization's growth strategy, leveraging his extensive background in credit, lending, and commercial banking services to assess business conditions across all markets in the bank's footprint.
Farmers National Banc Corp (NASDAQ: FMNB) has announced that its subsidiary, National Associates, Inc., has completed the acquisition of Crest Retirement Advisors on December 16, 2024. Crest, founded in 2014 and based in Dublin, Ohio, specializes in providing customized retirement plans and administrative services to small businesses in Central Ohio.
The acquisition, which is expected to be immediately accretive to earnings, aligns with Farmers' multi-year growth strategy to expand its Wealth Management business and increase presence in Central Ohio. Crest will continue operating under its current name and location but is expected to merge with National Associates Inc. Farmers currently manages $4.0 billion in total wealth management assets under care as of September 30, 2024, and has $5.2 billion in banking assets.
Farmers National Banc Corp. (NASDAQ: FMNB) announced that its Board of Directors has declared a quarterly cash dividend of $0.17 per share. The dividend will be paid on December 31, 2024, to shareholders of record as of December 13, 2024.
Farmers National Banc Corp reported net income of $8.5 million ($0.23 per diluted share) for Q3 2024, down from $13.3 million ($0.36 per share) in Q3 2023. The quarter was impacted by a $12.5 million commercial credit issue resulting in a $4.4 million charge-off and $1.2 million specific reserve. The company showed strong commercial loan growth of $35.2 million (7.2% annualized) and customer deposit growth of $81.1 million (7.7% annualized). Total assets reached $5.24 billion, with loans increasing to $3.28 billion. Wealth management assets grew to $4.0 billion, and the company maintains 167 consecutive quarters of profitability.
Farmers National Banc Corp. (NASDAQ: FMNB) has declared a quarterly cash dividend of $0.17 per share. The Board of Directors made this decision on August 27, 2024. Shareholders of record as of September 13, 2024, will receive the dividend payment on September 30, 2024. This announcement demonstrates the company's commitment to providing regular returns to its shareholders, which is often viewed positively by investors seeking income-generating stocks.
Farmers National Banc Corp. (NASDAQ: FMNB) reported net income of $11.8 million, or $0.31 per diluted share, for Q2 2024. Excluding certain items, adjusted earnings were $12.2 million, or $0.33 per diluted share. The company experienced strong loan growth of $56.1 million (7.0% annualized) and sequential improvement in net interest income. Total assets reached $5.16 billion, with loans increasing to $3.24 billion. Asset quality remained strong with non-performing loans to total loans at 0.40%. The net interest margin declined to 2.71% due to increased funding costs. Noninterest income slightly increased to $9.6 million, while noninterest expense remained stable at $26.4 million. The company maintains a strong liquidity position with a loan-to-deposit ratio of 77.0%.
Farmers National Banc Corp. (NASDAQ: FMNB) announced a quarterly cash dividend of $0.17 per share on May 21, 2024.
The dividend will have a record date of June 14, 2024, and will be payable to shareholders on June 28, 2024.