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Stock Market & Financial Investment News

News Breaks
September 12, 2011
08:49 EDTFMNBFarmers National announces Nasdaq Capital Market listing
The Company’s common shares will begin trading on the NASDAQ Capital Market effective with the opening of trading on September 15, under the symbol "FMNB."
News For FMNB From The Last 14 Days
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June 24, 2015
14:00 EDTFMNBFarmers National Banc sees Tri-State deal accretive to EPS by 5% in first year
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08:50 EDTFMNBFarmers National Banc to host conference call
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08:11 EDTFMNBFarmers National Banc Corp to acquire Tri-State First Banc
Farmers National Banc Corp and Tri-State First Banc announced they have entered into an agreement and plan of merger. Pursuant to the Agreement, each shareholder of Tri-State will be entitled to elect to receive either $14.20 per share in cash or 1.747 of Farmers’ common shares, subject to an overall limitation of 75% of the shares being exchanged for Farmers shares and 25% for cash. Based on Farmers’ closing share price of $8.20 on June 23, the transaction is valued at approximately $14.2M. The merger is expected to qualify as a tax-free reorganization for those shareholders electing to receive Farmers’ shares. The transaction is subject to receipt of Tri-State shareholder approval and customary regulatory approvals. The company expects the transaction to close in the fourth quarter of 2015. Upon consummation of the transaction, 1st National, a unit of Tri-State First Banc, will be merged with and into Farmers National Bank of Canfield, a subsidiary of Farmers National Banc Corp. At that time, 1st National branches will become branches of Farmers National. Upon closing, Farmers estimates it will have approximately $1.8B in assets and 38 banking locations throughout Ohio and western Pennsylvania. Farmers expects the transaction to be accretive to earnings per share for the first full year of operation, excluding one-time merger costs, and expects any tangible book value dilution created in the transaction to be earned back in approximately 2.3 years. Following consummation of the transaction, it is expected that Farmers National Bank will exceed “well-capitalized” thresholds under all regulatory definitions. As of March 31, 2015 Tri-State had total assets of $139.5M, which included gross loans of $67M and deposits of $122.9M. For the twelve months ended March 31, 2015, Tri-State’s return on average assets and return on average equity were 0.71% and 8.78%, respectively.

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