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. (NASDAQ: FMNB) is a diversified financial services holding company for The Farmers National Bank of Canfield and related subsidiaries. Founded in 1887 and headquartered in Canfield, Ohio, the company operates in commercial and retail banking, trust and wealth management, and insurance services across selected markets in Ohio and Pennsylvania.
This news page aggregates company-specific coverage of FMNB, reflecting announcements and disclosures made through press releases and regulatory filings. Readers can find updates on quarterly and annual earnings, including details on net interest income, noninterest income, credit quality metrics, and efficiency measures as reported by the company. Earnings releases often highlight trends in loan growth, deposit balances, net interest margin and fee-based revenue from trust, insurance and retirement consulting activities.
News items also include dividend declarations by the Board of Directors, specifying per-share dividend amounts, record dates and payment dates for Farmers National Banc Corp. common stock. These announcements provide insight into the company’s capital return practices and board decisions regarding cash distributions to shareholders.
Another key category of coverage relates to strategic transactions and corporate actions. For example, Farmers National Banc Corp. and Middlefield Banc Corp. have announced a definitive merger agreement under which Middlefield will merge with and into Farmers in an all-stock transaction, subject to shareholder and regulatory approvals. Related news discusses the expected impact on total assets, branch network and geographic footprint, as well as the planned merger of The Middlefield Banking Company into The Farmers National Bank of Canfield.
In addition, this page features items on corporate governance and regulatory developments, such as amendments to the company’s code of regulations and Form 8-K disclosures regarding material events. Credit rating agency reports on Farmers National Banc Corp. and its subsidiary bank, which address topics like earnings capacity, asset quality, capital ratios and liquidity, may also be referenced in the news flow.
Investors, analysts and other interested readers can use this news feed to review the company’s public communications over time, including financial performance updates, dividend actions and information about the proposed merger with Middlefield Banc Corp.
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.
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.
Farmers National Banc Corp. (NASDAQ: FMNB) announced a quarterly cash dividend of
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.