FMNB is like a smaller, regional version of a diversified financial institution such as PNC or KeyBank, serving communities primarily in northeastern Ohio.

Think of it as a full-service community bank similar to a smaller Huntington Bank or Fifth Third Bank, but also offering trust, retirement, and insurance services.

• Deposit Accounts: Offers a variety of checking, savings, and time deposit accounts for both commercial and retail customers.
• Loan Products: Provides commercial, mortgage, installment, and home equity loans, alongside home equity lines of credit.
• Trust Services: Delivers personal and corporate trust services, encompassing estate settlement, trust administration, and employee benefit plans.
• Retirement Consulting: Offers specialized consulting services to assist with retirement planning and benefit management.
• Insurance Products: Provides property and casualty insurance products, as well as a range of other insurance offerings through licensed representatives.
• Other Banking Services: Includes supplementary services such as internet banking, ATMs, safe deposit boxes, money orders, credit cards, and brokerage services.

Farmers National Banc (FMNB) primarily serves a diverse base of individual and business customers within its operating region in northeastern Ohio and southwestern Pennsylvania. It does not have a few "major customers" in the traditional sense, but rather a broad client base across different segments.

The company sells primarily to a combination of individuals and businesses. Its customer categories can be described as:

1. Individual (Retail) Customers: This category includes individuals and families who utilize a wide range of personal banking services such as checking, savings, and time deposit accounts; mortgage, installment, and home equity loans; credit cards; and personal trust services (e.g., estate settlement, trust administration). They also access various insurance products and financial management services.
2. Commercial (Business) Customers: This category encompasses businesses, from small to medium-sized enterprises, that engage with FMNB for commercial banking services. These services include commercial loans, business checking and savings accounts, corporate trust services (e.g., employee benefit plans), retirement services, and property and casualty insurance products.

• Mastercard Inc. (MA)
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Kevin J. Helmick, President and Chief Executive Officer

Mr. Helmick has dedicated his entire professional career to Farmers National Bank, commencing as a teller in 1994. He advanced through various positions, including Financial Advisor, Vice President and Program Manager, Senior Vice President of Retail and Wealth, and Executive Vice President of Retail and Wealth Management, also holding the role of Corporate Secretary for the Holding Company. He was appointed President and Chief Executive Officer in November 2013. Mr. Helmick holds a bachelor's degree in Economics from Allegheny College and an MBA from Case Western Reserve University. There is no information available to suggest he founded or managed other companies, sold companies, or has a pattern of managing private equity-backed companies.

Troy Adair, Senior Executive Vice President, Chief Financial Officer and Secretary

Mr. Adair joined Farmers National Banc Corp. in June 2021 and assumed the role of Chief Financial Officer in August 2021. He brings 37 years of experience in finance and accounting within the banking sector, holding an MBA in Finance and Accounting. There is no information available to suggest he founded or managed other companies, sold companies, or has a pattern of managing private equity-backed companies.

Amber B. Wallace Soukenik, Senior Executive Vice President, Chief Retail/Marketing Officer

Ms. Wallace Soukenik serves as the Chief Retail & Marketing Officer at Farmers National Banc Corp.

Michael Matuszak, Senior Executive Vice President, Chief Operating Officer

Mr. Matuszak holds the position of Senior Executive Vice President, Chief Operating Officer for Farmers National Bank.

Mark J. Wenick, Senior Executive Vice President, Chief Wealth Management Officer

Mr. Wenick serves as the Chief Wealth Management Officer at Farmers National Banc Corp. His prior experience includes roles as Executive Vice President - Wealth Management at First Place Bank, Executive Vice President - Wealth Management Division Manager at BB&T Corp, and President:Mahoning Valley at Chemical Bank.

Key Risks to Farmers National Banc (FMNB)

1. Credit Risk and Regional Economic Sensitivity: Farmers National Banc operates primarily in northeastern Ohio and southwestern Pennsylvania. Consequently, the company is highly susceptible to the economic health and local market conditions within these specific regions. A downturn or significant economic stress in Ohio or Pennsylvania could lead to increased loan defaults, higher credit losses, and reduced demand for its banking, trust, and financial services, thereby directly impacting asset quality and profitability.

2. Interest Rate Fluctuations: As a financial institution, Farmers National Banc's profitability is significantly influenced by changes in interest rates. Unfavorable shifts in the interest rate environment can compress its net interest margin, which is the difference between the interest earned on assets (like loans) and the interest paid on liabilities (like deposits). Rapid or unexpected movements in interest rates could negatively affect the company's earnings and financial performance.

3. Competitive and Regulatory Landscape: Farmers National Banc faces significant competition from larger national and regional banks, credit unions, and non-bank financial service providers for deposits, loans, and other financial products. This intense competition can limit growth opportunities and put pressure on pricing. Additionally, the company operates in a highly regulated industry, and changes in banking laws, regulations, or increased compliance costs could impact its operations and financial results.

• Emerging fintech companies and digital-only challenger banks that offer core banking services (checking, savings, lending) with often lower fees, higher interest rates, and a superior mobile-first user experience. These entities leverage technology to provide a fundamentally different, often more convenient and cost-effective, model compared to traditional regional banks like FMNB, potentially eroding FMNB's customer base and market share by circumventing the need for physical branches.
• Automated investment platforms, commonly known as robo-advisors, that offer low-cost, algorithm-driven financial advice and portfolio management. These digital-first solutions directly compete with and pose a threat to FMNB's traditional human-advisor model for its wealth management, trust, and retirement services, appealing to clients seeking affordability and accessibility in financial planning.

Farmers National Banc (FMNB) operates in several financial sectors. Here are the addressable market sizes for its main products and services:

• Commercial Banking Services: The market size for the Commercial Banking industry in Pennsylvania is estimated at $43.2 billion in 2026. The overall U.S. commercial banking market size is projected to be $1.6 trillion in 2026.
• Retail Banking Services: The U.S. retail banking market generated a revenue of $454.3 billion in 2024 and is expected to reach $678.3 billion by 2033. The overall deposit market in Ohio grew to approximately $565.32 billion in 2025.
• Property and Casualty Insurance Products and Services: The Property, Casualty and Direct Insurance industry in Pennsylvania has a market size of $48.3 billion in 2026. The United States property and casualty insurance market size is estimated at $1.14 trillion in 2026 and is projected to grow to $1.39 trillion by 2031. Ohio ranks as the fifth-largest insurance market in the United States. In 2024, Ohio's personal auto insurance market generated over $9 billion in direct written premiums.
• Retirement Services (including retirement consulting and planning): The total U.S. retirement assets were $48.1 trillion as of September 30, 2025. The U.S. retirement planning services market was valued at $3.2 trillion in 2024 and is projected to reach $5.1 trillion by 2033.
• Financial Management/Brokerage Services: The USA Financial Advisory Market, in terms of assets under management (AUM), is expected to grow from $90.54 trillion in 2025 to $101.74 trillion by 2030. The broader United States financial services market reached a value of approximately $65.18 billion in 2025 and is expected to grow to $133.96 billion by 2035.

Specific addressable market sizes for "Trust Services" as a standalone figure within the defined operating regions (northeastern Ohio and southwestern Pennsylvania) were not readily available in the search results and are often integrated into broader financial management or banking services.

Farmers National Banc (FMNB) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Net Interest Margin (NIM) Expansion: The company anticipates continued net interest margin expansion, driven by effective financial management leading to higher yields on earning assets and lower funding costs. Analysts project an increase in core net interest margin due to the repricing of yielding securities and fixed-rate loans.
2. Growth in Fee-Based Businesses: Farmers National Banc focuses on increasing noninterest income through the expansion of its fee-based businesses, including trust services, retirement consulting, insurance products, and debit card income. This growth is supported by higher assets under management, increased transaction volumes, and strategic acquisitions such as Crest Retirement.
3. Strategic Acquisitions and Organic Loan/Deposit Growth: Revenue growth is expected from both organic efforts in relationship-based loan and deposit growth and strategic mergers and acquisitions. Past acquisitions, like Emclaire Bank, have contributed to increased loan balances and noninterest income. The proposed merger with Middlefield Banc Corp. is also anticipated to be a significant driver of future financial and operating results. Additionally, the company is making strategic investments, such as opening a commercial loan production office in Columbus, to further bolster loan growth.
4. Digital Enhancements and Market Presence: Farmers National Banc is focusing on improving customer experience through digital enhancements and strengthening its market presence. The company's disciplined sales culture emphasizes relationship-based growth in its existing strong market presence in northeastern Ohio and southwestern Pennsylvania, with new expansion into growth markets like greater Columbus.