56Chevy
12 years ago
Farmers National Banc Corp. Reports Results for Fourth Quarter 2012
Date : 01/31/2013 @ 4:05PM
Source : Business Wire
Stock : Farmers National Banc Corp. (MM) (FMNB)
Quote : $6.53 -0.1 (-1.51%) @ 5:00PM
Farmers National Banc Corp. (Farmers) (NASDAQ: FMNB) today reported financial results for the three and twelve months ended December 31, 2012.
Net income for the twelve months ended December 31, 2012 was $9.9 million, compared to $9.2 million for the same twelve month period in 2011. On a per share basis, net income for the twelve months ended December 31, 2012 was $0.53, an increase of 6% compared to the same twelve month period in 2011. The tangible book value increased to $6.11 per share at December 31, 2012, compared to $5.76 per share at December 31, 2011, mainly as a result of retained net income. Farmers’ total assets reported at December 31, 2012 were $1.14 billion, representing a 6.7% increase compared to $1.07 billion in total assets recorded at December 31, 2011. Net income for the three months ended December 31, 2012 was $2.6 million, compared to $3.0 million for the same three month period in 2011. On a per share basis, net income for the fourth quarter ended December 31, 2012 was $0.14 per diluted share, compared to $0.16 for the fourth quarter ended December 31, 2011 and $0.13 for the third quarter ended September 30, 2012.
John S. Gulas, President and CEO, stated “We are pleased with our 8% improvement in net income for 2012 compared to 2011. It is important to note that noninterest income excluding security gains increased 7% in 2012 compared to 2011, which is consistent with our strategy to diversify revenue. We are encouraged that asset quality continues to improve, evidenced by the reduction in the provision for loan losses from $3.7 million for the twelve month period ending December 31, 2011 to $725 thousand for the twelve months ended December 31, 2012. We have also seen a decline in our non-performing loans, from $11.0 million at December 31, 2011 to $8.2 million at December 31, 2012. Even with the reduction in our provision for loan losses, because of improved credit quality, we continue to maintain strong reserves against probable incurred losses.”
Net loans increased $17.0 million (or 3%) in comparing the fourth quarter of 2012 to the same quarter of 2011. Most of the loan growth in the past twelve months has occurred in the commercial and industrial loan portfolio. Net loans were reported at $579.0 million at December 31, 2012, which compares to $562.0 million at the same time in 2011. Deposits increased $78.9 million, or 9.4%, from $840.1 million at December 31, 2011 to $919.0 million at December 31, 2012, as customers continue to seek the safety and security of FDIC insured deposit accounts. The Company’s deposits are also being affected positively by the recent development of the Marcellus and Utica shale activity within the local region. At December 31, 2012, the Company had deposits totaling approximately $58 million that customers have received from energy exploration companies from the leasing or sale of mineral rights. (this is simular to what has happened in North Dakota with BNCC and the Bakken shale land owners with mineral rights.)
Stockholders’ equity totaled $120.8 million, or 10.6% of total assets, at December 31, 2012, an increase of $6.3 million, or 5.6%, compared to $114.4 million at December 31, 2011. The increase is mainly the result of net income, offset by cash dividends paid to shareholders during the past twelve months. Shareholders received a total of $0.18 per share in cash dividends paid in the past four quarters, including two special $0.03 cash dividends paid on February 28 and December 31, 2012. Book value per share increased 5.4% from $6.10 per share at December 31, 2011 to $6.43 per share at December 31, 2012.
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http://ih.advfn.com/p.php?pid=nmona&article=56091163
*I do not own shares of FMNB at this time.
56Chevy
12 years ago
Farmers National Banc Corp. Announces 2012 Share Repurchase Program
Date : 09/28/2012 @ 12:00PM
Source : Business Wire
Stock : Farmers National Banc Corp. (MM) (FMNB)
Quote : *$6.72 0.0 (0.00%) @ 5:30PM *pps shown was on 10/12/2012
Farmers National Banc Corp., (NASDAQ: FMNB) Canfield, Ohio, today announced that its Board of Directors has approved a share repurchase program under which the Company is authorized to repurchase up to 920,000 shares of its common stock in the open market or in privately negotiated transactions, subject to market and other conditions, for up to one year ending September 27, 2013 (the “Program”). The Program may be modified, suspended or terminated by the Company at any time.
Farmers National Banc Corp. is the bank holding company for the Farmers National Bank of Canfield and Farmers Trust Company. Farmers operates 19 banking offices throughout Mahoning, Trumbull, Columbiana and Stark counties and two trust offices located in Youngstown and Howland. The bank offers a wide range of banking and investment services to companies and individuals, and maintains a website at www.farmersbankgroup.com.
http://ih.advfn.com/p.php?pid=nmona&article=54343333
56Chevy
13 years ago
Farmer's National Banc Corp. to begin trading on NASDAQ Thursday
Mon, September 12, 2011 @ 11:05 a.m.
CANFIELD — Farmers National Banc Corp. announced its shares will begin trading on the NASDAQ Capital Market beginning Thursday.
Farmers’ stock symbol will be FMNB. It had currently trades over-the-counter and closed Friday at $4.20 a share.
John Gulas, president and CEO, will commemorate the accomplishment by ringing the closing bell at The NASDAQ Stock Market in New York’s Times Square on Thursday.
Farmers has assets of $1.01 billion and has 18 retail banking offices and two trust offices throughout the Mahoning Valley.
Farmers National Insurance, LLC, a wholly-owned subsidiary of The Farmers National Bank of Canfield, offers a variety of insurance products.
Penny Roger$
13 years ago
Farmers National Banc Corp. Declares Cash Dividend
| 1:47 PM | |
CANFIELD, Ohio--(BUSINESS WIRE)--On August 9, 2011, the Board of Directors of the Farmers National Banc Corp. (OTCBB: FMNB) declared a cash dividend of $0.03 per share. The common stock cash dividend will have a record date of September 16, 2011 and is payable to shareholders on September 30, 2011. Farmers National Banc Corp. is the holding company for Farmers National Bank and Farmers Trust Company, with over $1 Billion in assets, 18 Banking locations and two Trust offices.
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FMNB Security Details
Share StructureMarket Value1 $81,231,556 a/o Aug 09, 2011
Shares Outstanding 18,673,921 a/o Apr 30, 2011
Float Not Available
Authorized Shares Unlimited a/o
Par Value Not Available
http://www.fnbcanfield.com/
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56Chevy
13 years ago
Farmers National Banc Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2011; Announces Net Charge-Offs for the Quarter Ended June 30, 2011
07/27/2011
Farmers National Banc Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2011. For the quarter, the company reported net income of $2.1 million or $0.11 per basic and diluted share compared to $2.0 million or $0.15 per basic and diluted share for the second quarter of 2010. Income before income taxes was $2.68 million and net interest income of $9.16 million on total interest income of $11.19 million compared to income before income taxes was $2.65 million, net interest income of $9.18 million on total interest income of $12.09 million for the same period a year ago. Annualized return on average assets was 0.83% compared to 0.79% for the same period a year ago. Annualized return on average equity was 8.05% compared to 9.78% for the same period a year ago. For the six months, the company reported net income was $3.8 million or $0.21 per basic and diluted share compared to $2.9 million or $0.21 per basic and diluted share for the same six month period in 2010. Income before income taxes was $4.69 million and net interest income of $18.24 million on total interest income of $22.32 million compared to income before income taxes was $3.49 million, net interest income of $17.99 million on total interest income of $24.23 million for the same period a year ago. Annualized return on average assets was 0.76% compared to 0.57% for the same period a year ago. Annualized return on average equity was 7.69% compared to 6.89% for the same period a year ago. Book value per share was decreased 9.4% from $6.41 per share at June 30, 2010 to $5.81 per share at June 30, 2011. This decrease is mainly the result of the increase in shares outstanding, which includes the 5 million shares issued in the first quarter 2011 common share offering. The company's tangible book value per share also decreased 7.3% from $5.88 per share at June 30, 2010 to $5.45 per share at June 30, 2011. Net charge-offs for the quarter ending June 30, 2011 were $336,000 compared to $1.05 million and $1.6 million for the first quarter of 2011 and the second quarter of 2010, respectively.
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