Farmers National Banc Corp. (FMNB)

Farmers National Banc Corp. announced a definitive merger agreement with Middlefield Banc Corp. on October 22, 2025, in an all-stock transaction valued at approximately $299 million. The company reported its third-quarter earnings for 2025 on October 22, 2025, with an adjusted EPS of $0.42, surpassing estimates, but revenue falling slightly short. Following the merger announcement, Halper Sadeh LLC initiated an investigation into the fairness of the merger to shareholders. On October 24, 2025, Director Edward Muransky purchased 73,500 shares of FMNB stock for an estimated $998,865. A quarterly cash dividend was declared on August 26, 2025. On October 28, 2025, Weiss Ratings upgraded FMNB from a "hold" to a "buy" rating, while Zacks Research lowered its rating from "strong-buy" to "hold" on September 26, 2025. FMNB has experienced stable share price volatility over the past three months and the past year.

Farmers National Banc Corp. is subject to seasonal trends in the banking industry, with loan demand typically lower in January and February, increasing in March, peaking in August or September, and declining towards December. The spring season sees increased mortgage applications due to home-buying, influenced by changes in interest rates.

Farmers National Banc Corp. is a diversified financial services company operating as a bank holding company for The Farmers National Bank of Canfield, providing banking, trust, retirement consulting, insurance, and financial management services. The company offers commercial and retail banking services, including various deposit accounts and loans, trust services such as estate settlement and employee benefit plans, insurance services through licensed representatives, and financial management services including investment in municipal securities.

Farmers National Banc Corp. operates primarily through The Farmers National Bank of Canfield, with 65 banking locations across Ohio and Pennsylvania, and Farmers Trust Company, with five trust offices in the same areas. A merger agreement with Middlefield Banc Corp., expected to close by the end of the first quarter of 2026, will expand its footprint to approximately 83 branch locations throughout Northeast and Central Ohio and Western Pennsylvania, enhancing its presence in Northeast Ohio and extending its reach into Central and Western Ohio, including Columbus.

Farmers National Banc Corp. emphasizes a relationship-driven business model focused on customer satisfaction and community engagement, highlighting its long-standing commitment since 1887. In the past year, there haven't been widely reported major events that significantly damaged its brand reputation. However, the announcement of the merger with Middlefield Banc Corp. on October 22, 2025, was followed by an investigation by Halper Sadeh LLC into the fairness of the merger to shareholders, which can draw public scrutiny.

Farmers National Banc Corp. has a diverse ownership structure, with major institutional owners including BlackRock, Inc., Vanguard Group Inc, Dimensional Fund Advisors Lp, Geode Capital Management, Llc, and State Street Corp. Institutional investors hold approximately 6.30% of the company's stock, insiders hold about 3.21%, and retail investors hold approximately 66.60%.