FMNB earnings analysis
What we found in FMNB's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Q1 2026 revenue reached $56.3 million, up from $54.8 million year-over-year.
- Earnings Beat Expectations
- Reported EPS of $0.45 surpassed estimates of $0.37, marking a 21.6% surprise.
- 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.
- Higher Net Interest Margin
- Net interest margin improved to 3.12%, up from 2.85% in the prior year.
- Substantial Asset Growth
- Total assets increased to $7.18 billion from $5.16 billion year-over-year due to the Middlefield merger.
- Robust Cash Position
- Cash and cash equivalents increased by $93.7 million to $186.1 million, bolstered by strategic liquidity measures.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
- Higher Noninterest Expenses
- Total noninterest expense surged to $37.3 million from $28.5 million, attributed to merger-related costs.
- Regulatory Risks Persist
- Continued changes in financial regulations could materially affect operational capabilities.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.45
What they said about what is next.
Management anticipates further expansion in net interest margin by approximately 25 basis points in Q2 2026.
The filing reads better than the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing FMNB makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever