Farmers National Q2 Net Income Jumps 65% to $23M on Middlefield Boost
FMNB sits 20% above its 52-week low of $12.12.
Summary
Farmers National Banc Corp. reported Q2 2026 net income of $23.0 million, or $0.39 per diluted share, up from $13.9 million, or $0.37, a year ago. Adjusted EPS was $0.41 excluding $1.7 million in Middlefield acquisition and core conversion costs. The results reflect the full-quarter impact of the March 2026 Middlefield acquisition, which added $1.82 billion in assets. Total loans dipped slightly from March due to heavier-than-expected commercial loan payoffs from the Middlefield portfolio, but management expects normalization in Q3. Credit quality improved with non-performing loans declining to $44.6 million from $59.9 million at March 31, 2026. Net interest income rose to $56.0 million from $34.9 million a year ago, and the core technology conversion remains on track for late Q3 completion.
At the time of this announcement, FMNB was trading at $14.58 on NASDAQ in the Finance sector, with a market capitalization of approximately $863.4M. The 52-week trading range was $12.12 to $15.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.