10-K · March 5, 2026
Farmers National Banc Corp. reported modest top-line growth in 2025 with margin expansion and operating leverage while completing a transformative merger (Middlefield) as a subsequent event. Revenue for 2025 totaled…
Earnings analysis · 10-Q
FMNB earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Farmers National Banc Corp. reported a strong Q1 2026 performance driven by the Middlefield acquisition, achieving a revenue of $56.3 million and diluted EPS of $0.45, exceeding analyst expectations. The company…
Read full summary
Farmers National Banc Corp. reported a strong Q1 2026 performance driven by the Middlefield acquisition, achieving a revenue of $56.3 million and diluted EPS of $0.45, exceeding analyst expectations. The company benefited from increased net interest income and margins, although substantial one-time charges related to the acquisition were noted.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.45
What stood out
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Strong Revenue Growth
Q1 2026 revenue reached $56.3 million, up from $54.8 million year-over-year.
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Earnings Beat Expectations
Reported EPS of $0.45 surpassed estimates of $0.37, marking a 21.6% surprise.
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Increased Net Interest Income
Net interest income rose to $42.6 million compared to $34.2 million in Q1 2025, primarily due to the Middlefield acquisition.
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Higher Net Interest Margin
Net interest margin improved to 3.12%, up from 2.85% in the prior year.
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Substantial Asset Growth
Total assets increased to $7.18 billion from $5.16 billion year-over-year due to the Middlefield merger.
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Robust Cash Position
Cash and cash equivalents increased by $93.7 million to $186.1 million, bolstered by strategic liquidity measures.
What to watch
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Increased Non-Performing Loans
Non-performing loans grew to $59.9 million, representing 1.25% of total loans, up from 0.64% year-over-year.
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Higher Noninterest Expenses
Total noninterest expense surged to $37.3 million from $28.5 million, attributed to merger-related costs.
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Regulatory Risks Persist
Continued changes in financial regulations could materially affect operational capabilities.
Management's outlook
Management anticipates further expansion in net interest margin by approximately 25 basis points in Q2 2026.
Earlier filings 4
10-Q · May 8, 2025
Farmers National Banc Corp. reported quarter-over-quarter improvement in profitability and liquidity: net income rose to $13,578 (thousands) and diluted EPS to $0.36 for the three months ended March 31, 2025 (versus…
10-Q · August 8, 2024
FMNB reported Q2 2024 net income of $11.783M (diluted EPS $0.31), down from $14.966M (EPS $0.40) in Q2 2023. Total revenue (net interest income plus noninterest income) declined to $41.672M from $44.027M while income…
10-K · March 9, 2023
The 10-K emphasizes Farmers National Banc Corp. as a regional financial holding company operating primarily through a Bank and a Trust segment, and highlights recent M&A activity (Cortland closed Nov 1, 2021; Emclaire…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.