Tearsheet

Farmers National Banc (FMNB)

Market Price (6/15/2026): $14.55 | Market Cap: $649.7 MilSector: Financials | Industry: Regional Banks

Farmers National Banc (FMNB)

Market Price (6/15/2026): $14.55
Market Cap: $649.7 Mil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.5%, FCF Yield is 7.3%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -52%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%

Low stock price volatility
Vol 12M is 25%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.

Trading close to highs
Dist 52W High is -0.4%, Dist 3Y High is -1.1%

Weak multi-year price returns
2Y Excs Rtn is -4.3%, 3Y Excs Rtn is -44%

Key risks
FMNB key risks include [1] integration challenges from its pending merger with Middlefield Bancorp and [2] notable exposure to investor commercial real estate relative to its risk-based capital.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.5%, FCF Yield is 7.3%
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -52%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%
3	Low stock price volatility Vol 12M is 25%
4	Megatrend and thematic drivers Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.
5	Trading close to highs Dist 52W High is -0.4%, Dist 3Y High is -1.1%
6	Weak multi-year price returns 2Y Excs Rtn is -4.3%, 3Y Excs Rtn is -44%
7	Key risks FMNB key risks include [1] integration challenges from its pending merger with Middlefield Bancorp and [2] notable exposure to investor commercial real estate relative to its risk-based capital.

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	6/15/26	2025	2024	2023	2022
Share Price			$14.55	$13.32	$14.22	$14.45	$14.12
Mkt Cap ($ Mil)			649.7	499.2	531.2	538.2	478.1
+ Debt ($ Mil)			435.1	367.7	391.1	443.7	183.2
- Cash ($ Mil)			38.2	20.5	20.4	28.9	21.4
TEV ($ Mil)			1,046.6	866.9	922.3	981.9	661.3
Valuation Ratios
P/S	2.2	2.4	3.2	2.6	3.1	3.0	3.0
P/EBIT	7.5	8.1	-	-	-	-	-
P/E	9.9	11.4	11.3	9.1	11.6	10.8	7.9
P/FCF	—	—	13.8	9.6	9.7	9.1	6.3
Sector Ratios (* = sector average)
P/S *			3.3	3.1	3.1	2.8	2.8
P/EBIT *			6.9	7.5	8.3	7.3	7.2
P/E *			11.8	11.0	11.6	10.1	9.4
P/FCF *			9.0	9.0	9.2	8.0	6.6

FYE: 12/31	Forward FYE		Now
	2027	2026	6/15/26
Share Price			$14.55
Mkt Cap ($ Mil)			649.7
+ Debt ($ Mil)			435.1
- Cash ($ Mil)			38.2
TEV ($ Mil)			1,046.6
Valuation Ratios
P/S	2.2	2.4	3.2
P/EBIT	7.5	8.1	-
P/E	9.9	11.4	11.3
P/FCF	—	—	13.8
Sector Ratios (* = sector average)
P/S *			3.3
P/EBIT *			6.9
P/E *			11.8
P/FCF *			9.0

FYE: 12/31	FMNB [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$200.2 Mil	—
FY 2026 Sales	$269.6 Mil	—
FY 2027 Sales	$292.4 Mil	—
FY 2026 Sales Growth	34.7%	—
FY 2027 Sales Growth	8.5%	7.8%
EARNINGS
LTM Net Income (GAAP) [3]	$57.3 Mil	—
FY 2026 Net Income (Non-GAAP)	$56.8 Mil	—
FY 2027 Net Income (Non-GAAP)	$65.5 Mil	—
FY 2027 Net Income Growth	15.2%	14.6%
FY 2026 EPS (Non-GAAP)	$1.51	—
FY 2027 EPS (Non-GAAP)	$1.75	—
FY 2027 EPS Growth	15.9%	—
VALUATION
FY 2026 P/S	2.4	3.3
FY 2027 P/S	2.2	—
FY 2026 P/E	11.4	20.4
FY 2027 P/E	9.9	—

[1] FMNB forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	FMNB	S&P 500
REVENUE GROWTH	GOOD
Rev LTM ($ Bil)	0.2
Rev Chg Q	25.9%	8.8%
Rev Chg LTM	14.6%	7.4%
Rev Chg 3Y Avg	6.5%	5.8%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	�
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	0.1
CFO/Rev LTM	26.0%	21.3%
Net Inc Mgn	28.6%	13.0%
VALUATION	LOW
P/S	3.2	3.3
P/CFO	12.5	15.2
P/FCF	13.8	19.7
P/E	11.3	24.2

AI Analysis | Feedback

Metric	Value	Date	Source
Wealth management assets under care	4.4 billion	6302025	Link
Number of banking locations	62	6302025	Link
Total number of acquisitions	7	9062025	Link
Average deposit balance per account (excluding collateralized deposits)	25,188	12312024	Link
Number of Employees	682	6302025	Link
Number of trust offices	5	10232024	Link
Deposit Market Share in Youngstown MMSA	16.7%	6302023	Link
Home Mortgage Loan Origination Market Share in Youngstown MMSA	4.2%	12312023	Link

Price Chart

Recent
6/12/2026	Dividend	Amount: $0.17 Payment On: 6/30/2026
Upcoming
7/22/2026	Earnings Release	Rev: $70 Mil (E) EPS: $0.37 (E)

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/12/2026

Farmers National Banc (FMNB) stock has gained about 15% since 2/28/2026 because of the following key factors:

1. Successful Acquisition and Balance Sheet Expansion in Fiscal Q1 2026.

Farmers National Banc Corp. completed its acquisition of Middlefield Banc Corp. on March 2, 2026. This strategic move significantly expanded FMNB's balance sheet, adding $1.82 billion in assets, $1.49 billion in loans, and $1.49 billion in deposits. As a result, the company's total assets grew to $7.18 billion by March 31, 2026, boosting its market presence with operations across 83 branches in Ohio and Pennsylvania.

2. Strong Fiscal Q1 2026 Earnings Beat and Net Interest Margin Expansion.

The company reported robust financial results for fiscal Q1 2026, with earnings per share (EPS) of $0.45, exceeding the consensus estimate of $0.3713 by 21.2%. Net income for the quarter reached $16.26 million, an increase from $13.58 million in the prior year's fiscal Q1. Furthermore, FMNB's net interest margin (NIM) improved to 3.12% in fiscal Q1 2026, up from 3.05% in fiscal Q4 2025, and the company projects an additional 25 basis points NIM expansion in fiscal Q2 2026 due to the Middlefield integration.

Show more

Holding a concentrated position? Know your true downside before the momentum shifts.

Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 13.7% change in FMNB stock from 2/28/2026 to 6/14/2026 was primarily driven by a 28.6% change in the company's P/E Multiple.

(LTM values as of)	2282026	6142026	Change
Stock Price ($)	12.78	14.53	13.7%
Change Contribution By:
Total Revenues ($ Mil)	184	200	9.0%
Net Income Margin (%)	29.6%	28.6%	-3.3%
P/E Multiple	8.8	11.3	28.6%
Shares Outstanding (Mil)	37	45	-16.1%
Cumulative Contribution			13.7%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/14/2026

	Return	Correlation
FMNB	13.7%
Market (SPY)	8.4%	29.4%
Sector (XLF)	4.2%	45.9%

Fundamental Drivers

The 10.8% change in FMNB stock from 11/30/2025 to 6/14/2026 was primarily driven by a 25.3% change in the company's P/E Multiple.

(LTM values as of)	11302025	6142026	Change
Stock Price ($)	13.11	14.53	10.8%
Change Contribution By:
Total Revenues ($ Mil)	184	200	9.0%
Net Income Margin (%)	29.6%	28.6%	-3.3%
P/E Multiple	9.0	11.3	25.3%
Shares Outstanding (Mil)	37	45	-16.1%
Cumulative Contribution			10.8%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/14/2026

	Return	Correlation
FMNB	10.8%
Market (SPY)	9.2%	27.1%
Sector (XLF)	0.9%	48.0%

Fundamental Drivers

The 16.6% change in FMNB stock from 5/31/2025 to 6/14/2026 was primarily driven by a 17.5% change in the company's P/E Multiple.

(LTM values as of)	5312025	6142026	Change
Stock Price ($)	12.46	14.53	16.6%
Change Contribution By:
Total Revenues ($ Mil)	175	200	14.6%
Net Income Margin (%)	27.6%	28.6%	3.5%
P/E Multiple	9.6	11.3	17.5%
Shares Outstanding (Mil)	37	45	-16.3%
Cumulative Contribution			16.6%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/14/2026

	Return	Correlation
FMNB	16.6%
Market (SPY)	27.3%	35.3%
Sector (XLF)	6.3%	52.9%

Fundamental Drivers

The 45.1% change in FMNB stock from 5/31/2023 to 6/14/2026 was primarily driven by a 55.0% change in the company's P/E Multiple.

(LTM values as of)	5312023	6142026	Change
Stock Price ($)	10.02	14.53	45.1%
Change Contribution By:
Total Revenues ($ Mil)	166	200	20.2%
Net Income Margin (%)	31.1%	28.6%	-8.1%
P/E Multiple	7.3	11.3	55.0%
Shares Outstanding (Mil)	38	45	-15.3%
Cumulative Contribution			45.1%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/14/2026

	Return	Correlation
FMNB	45.1%
Market (SPY)	84.5%	38.2%
Sector (XLF)	76.3%	57.1%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
FMNB Return	44%	-21%	8%	3%	-2%	11%	39%
Peers Return	31%	2%	-0%	14%	5%	18%	88%
S&P 500 Return	27%	-19%	24%	23%	16%	8%	97%
Monthly Win Rates [3]
FMNB Win Rate	67%	33%	50%	42%	42%	83%
Peers Win Rate	67%	42%	47%	47%	55%	80%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
FMNB Max Drawdown	-18%	-35%	-26%	-17%	-17%	-10%
Peers Max Drawdown	-20%	-21%	-34%	-17%	-22%	-12%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: WSBC, CBU, FCF, STBA, SRCE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/12/2026 (YTD)

Event	FMNB	S&P 500
2025 US Tariff Shock
% Loss	-16.1%	-18.8%
% Gain to Breakeven	19.2%	23.1%
Time to Breakeven	81 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-22.1%	-9.5%
% Gain to Breakeven	28.3%	10.5%
Time to Breakeven	50 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-22.4%	-6.7%
% Gain to Breakeven	28.8%	7.1%
Time to Breakeven	100 days	31 days
2020 COVID-19 Crash
% Loss	-34.4%	-33.7%
% Gain to Breakeven	52.4%	50.9%
Time to Breakeven	336 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-24.4%	-19.2%
% Gain to Breakeven	32.2%	23.8%
Time to Breakeven	312 days	105 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-10.9%	-17.9%
% Gain to Breakeven	12.3%	21.8%
Time to Breakeven	20 days	123 days

Compare to WSBC, CBU, FCF, STBA, SRCE

In The Past

Farmers National Banc's stock fell -16.1% during the 2025 US Tariff Shock. Such a loss loss requires a 19.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	FMNB	S&P 500
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-22.1%	-9.5%
% Gain to Breakeven	28.3%	10.5%
Time to Breakeven	50 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-22.4%	-6.7%
% Gain to Breakeven	28.8%	7.1%
Time to Breakeven	100 days	31 days
2020 COVID-19 Crash
% Loss	-34.4%	-33.7%
% Gain to Breakeven	52.4%	50.9%
Time to Breakeven	336 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-24.4%	-19.2%
% Gain to Breakeven	32.2%	23.8%
Time to Breakeven	312 days	105 days
2008-2009 Global Financial Crisis
% Loss	-49.8%	-53.4%
% Gain to Breakeven	99.2%	114.4%
Time to Breakeven	161 days	1085 days

Compare to WSBC, CBU, FCF, STBA, SRCE

In The Past

Farmers National Banc's stock fell -16.1% during the 2025 US Tariff Shock. Such a loss loss requires a 19.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Farmers National Banc (FMNB)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Farmers National Banc Corp., a financial holding company, operates in the banking, trust, retirement consulting, insurance, and financial management industries. It offers commercial and retail banking services, including checking, savings, and time deposit accounts; commercial, mortgage and installment, and home equity loans; home equity lines of credit, night depository, safe deposit box, money order, bank check, automated teller machine, Internet banking, travel card, E bond transaction, MasterCard and Visa credit cards, brokerage, and other services. The company also provides personal and corporate trust services in the areas of estate settlement, trust administration, and employee benefit plans; retirement services; property and casualty insurance products and services; and various insurance products through licensed representatives, as well as invests in municipal securities. It operates through 47 locations in northeastern region of Ohio and one location in southwestern Pennsylvania. The company was founded in 1887 and is based in Canfield, Ohio.

AI Analysis | Feedback

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.

AI Analysis | Feedback

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.

AI Analysis | Feedback

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:

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.
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.

AI Analysis | Feedback

Mastercard Inc. (MA)
Visa Inc. (V)

AI Analysis | Feedback

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.

AI Analysis | Feedback

Key Risks to Farmers National Banc (FMNB)

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.
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.
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.

AI Analysis | Feedback

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.

AI Analysis | Feedback

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.

AI Analysis | Feedback

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

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.
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.
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.
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.

AI Analysis | Feedback

Share Repurchases

  Farmers National Banc Corp. authorized a new share repurchase program on March 1, 2023, allowing for the repurchase of up to 1,000,000 shares of its common stock.
  In 2023, the company repurchased approximately $5.0 million of its common stock.
  Share repurchases amounted to -$0.2 million in 2021, -$0.8 million in 2022, -$12.2 million in 2023, and -$0.9 million in 2024.


Share Issuance

  Farmers National Banc Corp. completed an all-stock merger with Middlefield Banc Corp. in March 2026, where each Middlefield common stock share was converted into 2.6 shares of Farmers common stock.
  The merger with Middlefield Banc Corp. was valued at approximately $299.0 million as of October 20, 2025.
  Shareholders experienced substantial dilution in the past year (as of March 2026).


Outbound Investments

  Farmers National Banc Corp. acquired Cortland Bancorp, Inc. for $128.54 million, with the transaction completing on November 1, 2021.
  The company acquired Emclaire Financial for $105 million in March 2022.
  The merger with Middlefield Banc Corp. in March 2026 was the company's seventh bank acquisition in the last decade, expanding its footprint across Central and Western Ohio.


Capital Expenditures

  Capital expenditures for Farmers National Banc Corp. were -$11.7 million in 2024, -$3.9 million in 2023, and -$2.6 million in 2022.
  For the trailing twelve months ending December 31, 2025, capital expenditures stood at $6.77 million.
  In Q4 2025, capital expenditures were $1.1 million, a 35.2% decrease from the prior quarter.



	
		
			
				
					
					 Interactive Breakdown
null

null
				
			
		
	

	
		
			
				
				 Better Bets vs. Farmers National Banc (FMNB)
				
					By Industry
					By Sector
					All Other Sectors
					Sector Best Bets
				
				
					null
					null
					null
					null
				
			
		
	

	
		
			
				
				 Latest Trefis Analyses
				 Title Date
0 DASHBOARDS  
1 Farmers National Banc Stock Jump Looks Great, But How Secure Is That Gain? 10/17/2025
 Title
0 ARTICLES
			
		
	

	
		
			
				
				 Trade Ideas
Select ideas related to FMNB.null
			
		
	

	
		
			
				
				 Recent Active Movers
				
					1D
					1W
					1M
				
				
					Top Gainers
Ticker Company Mkt Cap (B) 1D Rtn YTD Rtn
ROKU Roku 21.2 20.1% 32.4%
TBN Tamboran Resources 0.9 19.9% 48.3%
STTK Shattuck Labs 0.6 18.2% 35.3%
SENEA Seneca Foods 1.2 17.5% 58.5%
ALMS Alumis 3.0 15.6% 147.4%
ELVN Enliven Therapeutics 2.9 14.3% 199.5%
AKTS Aktis Oncology 1.1 12.7% ∞%
ZBIO Zenas BioPharma 1.1 11.5% -45.5%
POET POET Technologies 1.8 11.4% 97.9%
VYX NCR Voyix 1.1 10.3% -23.0%
Top Losers
Ticker Company Mkt Cap (B) 1D Rtn YTD Rtn
FLY Firefly Aerospace 5.1 -19.1% 42.5%
YSS York Space Systems 3.5 -17.9% -17.6%
VELO Velo3D 0.5 -16.7% 85.6%
ASTS AST SpaceMobile 24.0 -15.5% 13.5%
OMER Omeros 0.6 -14.2% -49.1%
VOYG Voyager Technologies 2.4 -14.0% 57.4%
LUNR Intuitive Machines 3.2 -13.1% 64.0%
SHAZ SharonAI 0.9 -12.9% -32.6%
SWMR Swarmer 0.7 -12.7% 45.8%
NAVN Navan 5.0 -11.9% 16.7%
					Top Gainers
Ticker Company Mkt Cap (B) 1W Rtn YTD Rtn
VELO Velo3D 0.5 60.9% 85.6%
TNGX Tango Therapeutics 4.4 53.0% 249.2%
CBRL Cracker Barrel Old Country Store 1.0 39.2% 86.6%
ICHR Ichor 3.0 38.0% 371.0%
NUVL Nuvalent 9.7 35.5% 22.5%
CNTN Canton Strategic 0.6 34.3% 2.0%
PAYO Payoneer Global 2.3 33.9% 20.1%
ELVN Enliven Therapeutics 2.9 32.9% 199.5%
GLXY Galaxy Digital 6.4 32.7% 49.2%
UCTT Ultra Clean 4.9 32.7% 329.9%
Top Losers
Ticker Company Mkt Cap (B) 1W Rtn YTD Rtn
PCT PureCycle Technologies 1.6 -29.0% 3.4%
SMCI Super Micro Computer 18.3 -26.8% 4.1%
SWMR Swarmer 0.7 -25.6% 45.8%
WOLF Wolfspeed 1.7 -21.6% 147.8%
NRGV Energy Vault 0.7 -21.4% -6.7%
MRLN Merlin 0.5 -20.8% -71.0%
SAIL SailPoint 8.2 -19.8% -27.7%
PRIM Primoris Services 5.3 -19.0% -20.5%
ADBE Adobe 83.6 -18.9% -41.7%
TMCR Metals Royalty 0.5 -18.6% -33.3%
					Top Gainers
Ticker Company Mkt Cap (B) 1M Rtn YTD Rtn
NVRI Enviri 1.8 295.5% 329.9%
APPS Digital Turbine 1.1 136.9% 95.2%
HYLN Hyliion 1.3 106.1% 302.2%
AMC AMC Entertainment 1.3 75.9% 50.0%
REPL Replimune 0.8 67.5% -8.6%
ALAB Astera Labs 62.7 63.8% 120.7%
UMAC Unusual Machines 0.9 63.2% 91.8%
GENI Genius Sports 1.8 62.7% -37.8%
DELL Dell Technologies 261.1 62.2% 215.6%
CBRL Cracker Barrel Old Country Store 1.0 61.3% 86.6%
Top Losers
Ticker Company Mkt Cap (B) 1M Rtn YTD Rtn
ADCT ADC Therapeutics 0.2 -69.8% -70.3%
VRRM Verra Mobility 0.7 -65.2% -79.2%
BTGO BitGo 0.5 -58.2% -73.1%
FULC Fulcrum Therapeutics 0.3 -52.4% -69.5%
LWLG Lightwave Logic 1.4 -47.4% 196.0%
MRAM Everspin Technologies 0.6 -41.1% 163.0%
HYMC Hycroft Mining 2.3 -41.0% 8.4%
OMER Omeros 0.6 -39.3% -49.1%
JBIO Jade Biosciences 0.9 -38.8% -0.6%
PLAB Photronics 1.8 -38.7% -0.7%
				
			
		
	

	
		 More From Trefis
		
			
				Research & Analysis
				
					Latest Ideas
					Dip Buying Opportunities
					Earnings Reaction Data
				
			
		
		
			
				Invest in Strategies
				
					Invest in Trefis Strategies
					Advisor Strategies & Resources
				
			
		
		
			
				Wealth Management
				
					Help Me Invest
					Rules-Based Wealth Management
				
			
		
	

	
		
			
				 Peer Comparisons
Peers to compare with: 
				
				Financials
 FMNB WSBC CBU FCF STBA SRCE Median
Name Farmers . Wesbanco Communit. First Co. S&T Banc. 1st Sour.  
Mkt Price 14.53 36.77 66.18 19.91 47.85 78.52 42.31
Mkt Cap 0.6 3.5 3.5 2.0 1.8 1.9 2.0
Rev LTM 200 1,038 836 538 410 443 491
Op Inc LTM - - - - - - -
FCF LTM 47 415 242 203 143 202 202
FCF 3Y Avg 53 244 217 156 155 196 176
CFO LTM 52 423 311 218 147 210 214
CFO 3Y Avg 61 255 256 172 159 206 189
				Growth & Margins
 FMNB WSBC CBU FCF STBA SRCE Median
Name Farmers . Wesbanco Communit. First Co. S&T Banc. 1st Sour.  
Rev Chg LTM 14.6% 59.9% 9.2% 12.2% 7.6% 11.5% 11.9%
Rev Chg 3Y Avg 6.5% 22.8% 9.1% 7.4% 1.6% 6.8% 7.1%
Rev Chg Q 25.9% 33.1% 8.8% 13.2% 8.9% 8.7% 11.0%
QoQ Delta Rev Chg LTM 6.1% 6.5% 2.1% 3.0% 2.1% 2.1% 2.5%
Op Inc Chg LTM - - - - - - -
Op Inc Chg 3Y Avg - - - - - - -
Op Mgn LTM - - - - - - -
Op Mgn 3Y Avg - - - - - - -
QoQ Delta Op Mgn LTM - - - - - - -
CFO/Rev LTM 26.0% 40.8% 37.2% 40.6% 35.9% 47.5% 38.9%
CFO/Rev 3Y Avg 33.9% 32.4% 33.1% 34.2% 40.0% 51.1% 34.0%
FCF/Rev LTM 23.5% 40.0% 28.9% 37.7% 34.9% 45.6% 36.3%
FCF/Rev 3Y Avg 29.4% 30.7% 28.3% 30.9% 39.0% 48.7% 30.8%
				Valuation
 FMNB WSBC CBU FCF STBA SRCE Median
Name Farmers . Wesbanco Communit. First Co. S&T Banc. 1st Sour.  
Mkt Cap 0.6 3.5 3.5 2.0 1.8 1.9 2.0
P/S 3.2 3.4 4.2 3.8 4.3 4.3 4.0
P/Op Inc - - - - - - -
P/EBIT - - - - - - -
P/E 11.3 11.0 16.0 12.9 13.0 11.9 12.4
P/CFO 12.5 8.3 11.2 9.3 12.0 9.1 10.3
Total Yield 10.8% 13.0% 9.1% 10.5% 10.7% 10.5% 10.6%
Dividend Yield 2.0% 3.9% 2.8% 2.8% 3.0% 2.1% 2.8%
FCF Yield 3Y Avg 10.3% 9.6% 7.6% 9.7% 11.3% 13.4% 10.0%
D/E 0.7 0.4 0.1 0.1 0.1 0.1 0.1
Net D/E -0.5 0.1 -0.8 -0.6 -0.7 -0.6 -0.6
				Returns
 FMNB WSBC CBU FCF STBA SRCE Median
Name Farmers . Wesbanco Communit. First Co. S&T Banc. 1st Sour.  
1M Rtn 7.5% 12.4% 7.2% 10.2% 10.5% 10.2% 10.2%
3M Rtn 17.9% 11.5% 16.2% 19.2% 20.0% 16.5% 17.2%
6M Rtn 3.2% 7.5% 11.2% 17.7% 15.3% 20.7% 13.2%
12M Rtn 17.7% 26.3% 22.9% 32.6% 35.9% 34.9% 29.5%
3Y Rtn 32.2% 56.1% 41.3% 57.1% 80.7% 83.8% 56.6%
1M Excs Rtn 7.0% 12.3% 8.2% 10.4% 10.6% 9.9% 10.1%
3M Excs Rtn 5.8% -0.5% 4.2% 7.1% 8.0% 4.5% 5.2%
6M Excs Rtn -3.2% 1.7% 3.8% 10.5% 8.2% 12.0% 6.0%
12M Excs Rtn -9.2% -2.1% -4.1% 5.6% 8.8% 6.8% 1.8%
3Y Excs Rtn -44.5% -24.3% -40.5% -22.1% -0.4% 4.7% -23.2%
				Comparison Analyses
null
			
		
	

	
		
			
				
				 FDIC Bank Data
				Capital & Deposits
Assets
Loans
				
					Bank Capital
nullBank Deposits
null
					Bank Assets
null
					Bank Loans
null
				
			
		
	

	
		
			
				
				 FDA Approved Drugs Data
				Expand for Morenull
				Collapse to Previewnull
			
		
	

	
		
			
				
				 Financials
				Annual
Quarterly
				$ Mil | FY: 12/31 LTM 2025 2024 2023 2022 2021 2020
Period End 3/31/2026 12/31/2025 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Filing Date 5/7/2026 3/5/2026 3/6/2025 3/7/2024 3/9/2023 3/9/2022 3/4/2021

Key Financials              
Total Revenue 200 189 170 180 160 146 132
Net Income 57 55 46 50 61 52 42
EPS 1.45 1.46 1.23 1.34 1.79 1.78 1.48

Growth Rates              
Total Revenue Growth 14.6% 10.9% -5.3% 12.3% 9.4% 10.5% 19.9%
Net Income Growth 18.6% 18.8% -8.0% -17.6% 16.9% 23.8% 17.1%

Margins              
Net Income Margin 28.6% 28.9% 27.0% 27.8% 37.9% 35.5% 31.6%

Cash & Debt              
Total Cash 774 754 1,287 1,329 1,289 1,457 596
Total Debt 435 368 391 444 183 88 79
Net Debt / (Cash) -339 -386 -896 -885 -1,106 -1,369 -517

Cash Flows & CapEx              
Net Cash from Operations 52 60 67 63 82 55 49
Total CapEx -5 -8 -12 -4 -3 -1 -4
Free Cash from Operations 47 52 55 59 79 54 45

Returns to Shareholders              
Dividends 25 25 25 25 22 14 13
Share Repurchases -0 -0 -0 12 -0 0 14
$ Mil | FY: 12/31 2026Q1 2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 2023Q2
Period End 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023
Filing Date 5/7/2026 3/5/2026 11/6/2025 8/7/2025 5/8/2025 3/6/2025 11/7/2024 8/8/2024 5/9/2024 3/7/2024 11/8/2023 8/8/2023

Key Financials Quarterly                        
Total Revenue 56 49 48 47 45 44 44 42 40 45 44 44
Net Income 16 15 12 14 14 14 9 12 11 15 13 15
EPS 0.36 0.39 0.33 0.37 0.36 0.38 0.23 0.32 0.30 0.39 0.36 0.40

Key Financials TTM                        
Total Revenue TTM 200 189 184 180 175 170 171 170 173 180 172 169
Net Income TTM 57 55 54 50 48 46 46 51 54 50 49 51

Growth Rates Quarterly                        
Total Revenue Growth 25.9% 11.2% 8.0% 12.9% 11.6% -1.9% 1.4% -5.3% -14.9% 19.5% 7.4% 6.9%
Net Income Growth 19.8% 1.7% 46.0% 18.1% 20.8% -1.3% -35.9% -21.3% 58.9% 9.1% -13.8% -6.2%

Margins Quarterly                        
Net Income Margin 28.9% 29.8% 26.1% 29.6% 30.4% 32.6% 19.3% 28.3% 28.1% 32.4% 30.5% 34.0%

Cash & Debt                        
Total Cash 774 754 722 686 686 1,287 1,314 1,271 1,293 1,329 1,236 1,347
Total Debt 435 368 322 289 188 391 371 495 434 444 89 388
Net Debt / (Cash) -339 -386 -400 -397 -498 -896 -943 -776 -859 -885 -1,148 -958

Cash Flows Quarterly                        
FCF from Operations 8 20 11 14 16 12 24 17 14 14 18 17

Cash Flows TTM                        
FCF from Operations TTM 52 60 53 66 69 67 69 63 63 63 71 72

Returns to Shareholders Quarterly                        
Dividends 6 6 6 6 6 6 6 6 6 6 6 6
Share Repurchases -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0

Return on Invested Capital (ROIC) Quarterly                        
ROIC 59.1% - - - - - - - - - - -

Return on Invested Capital (ROIC) TTM                        
ROIC TTM 52.0% - - - - - - - - - - -
			
		
	

	
		
			
				
				 Segment Financials
Revenue by Segment
$ Mil 2025 2024 2023 2022 2021
Bank Segment 230 222 173 153 136
Other revenues 35 34      
Trust Segment 15 13 12 20 11
Eliminations and other     -5 -4 -1
Total 280 269 180 168 146


Operating Income by Segment
$ Mil 2015 2014 2013 2012 2011
Bank 14 12 11 13 12
Trust 1 1 1 1 1
Retirement Consulting 0 -1 -0    
Eliminations and other -5 -1 -2    
Others       -1 -1
Total 11 12 9 13 12


Net Income by Segment
$ Mil 2023 2022 2021 2020 2019
Bank Segment 51 56 50 41 34
Trust Segment 4 9 3 3 2
Eliminations and other -5 -4 -1 -2 -1
Total 50 61 52 42 36


Assets by Segment
$ Mil 2025 2024 2023 2022 2021
Bank Segment 5,230 5,104 5,065 4,064 4,125
Trust Segment 17 17 16 14 14
Eliminations and other -1 -2 -3 4 4
Total 5,246 5,119 5,078 4,082 4,143



			
		
	

	
		
			
				
				 Price Behavior
				Behavior Stats
Betas Matrix
Behavior vs Other Asset Classes
				
					Price Behavior
Market Price $14.53  
Market Cap ($ Bil) 0.6  
First Trading Date 01/04/1999  
Distance from 52W High -0.4%  
    50 Days 200 Days
DMA Price $13.88 $13.41
DMA Trend indeterminate up
Distance from DMA 4.7% 8.4%
  3M 1YR
Volatility 19.3% 25.1%
Downside Capture 26.54 75.05
Upside Capture 73.06 73.98
Correlation (SPY) 26.5% 34.6%
					
FMNB Betas & Captures as of 5/31/2026


  1M 2M 3M 6M 1Y 3Y
Beta 0.63 0.78 0.49 0.56 0.80 0.75
Up Beta 0.81 0.58 0.42 0.62 1.03 0.77
Down Beta 0.92 0.15 0.34 0.21 0.53 0.64
Up Capture 35% 73% 60% 60% 67% 47%
Bmk +ve Days 13 28 36 67 141 432
Stock +ve Days 10 25 35 68 136 367
Down Capture 73% 156% 49% 70% 91% 94%
Bmk -ve Days 7 13 27 57 109 318
Stock -ve Days 10 15 25 51 105 367


[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
					
						
							1Y
							5Y
							10Y
						
						
							Based On 1-Year Data
 Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with FMNB
FMNB 14.3% 25.1% 0.49 -
Sector ETF (XLF) 6.2% 14.7% 0.20 52.9%
Equity (SPY) 24.9% 12.3% 1.52 34.5%
Gold (GLD) 25.5% 27.4% 0.81 -4.4%
Commodities (DBC) 30.1% 19.0% 1.25 -21.8%
Real Estate (VNQ) 13.5% 13.5% 0.69 39.6%
Bitcoin (BTCUSD) -41.7% 42.2% -1.16 20.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
							Based On 5-Year Data
 Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with FMNB
FMNB 1.2% 28.6% 0.06 -
Sector ETF (XLF) 8.8% 18.6% 0.35 55.4%
Equity (SPY) 13.5% 17.1% 0.61 39.6%
Gold (GLD) 16.8% 18.2% 0.75 -0.5%
Commodities (DBC) 8.4% 19.4% 0.33 6.1%
Real Estate (VNQ) 2.8% 18.8% 0.05 42.6%
Bitcoin (BTCUSD) 13.6% 54.4% 0.44 15.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
							Based On 10-Year Data
 Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with FMNB
FMNB 8.4% 32.4% 0.33 -
Sector ETF (XLF) 12.9% 22.2% 0.53 60.9%
Equity (SPY) 15.3% 17.9% 0.73 45.8%
Gold (GLD) 12.5% 16.1% 0.64 -4.4%
Commodities (DBC) 6.7% 18.0% 0.29 11.4%
Real Estate (VNQ) 5.7% 20.7% 0.24 44.7%
Bitcoin (BTCUSD) 60.3% 66.8% 1.00 12.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
						
					
				
			
		
		
			
				
				 Short Interest
Short Interest: As Of Date 5292026
Short Interest: Shares Quantity 1.0 Mil
Short Interest: % Change Since 5152026 25.2%
Average Daily Volume 0.3 Mil
Days-to-Cover Short Interest 3.3 days
Basic Shares Quantity 44.7 Mil
Short % of Basic Shares 2.1%
			
		
	

	
		
			
				 Returns Analyses
 Title
0 Farmers National Banc Stock Jump Looks Great, But How Secure Is That Gain?
			
		
	

	
		
			
				
				
				    Earnings Returns History
				    Updated 6/3/2026
				

				Expand for More  Forward Returns
Earnings Date 1D Returns 5D Returns 21D Returns
4/22/2026 1.6% 4.9% 2.8%
1/28/2026 -6.1% -3.2% 0.2%
10/22/2025 -4.7% -2.9% -7.7%
7/23/2025 -1.9% 0.7% 1.8%
4/16/2025 2.7% 9.9% 14.7%
1/29/2025 2.6% 2.0% 4.7%
10/23/2024 -5.1% -7.1% 1.5%
7/24/2024 0.4% 6.7% -2.4%
... 
SUMMARY STATS      
# Positive 10 14 16
# Negative 14 10 8
Median Positive 1.7% 3.2% 5.0%
Median Negative -4.0% -3.1% -3.7%
Max Positive 5.0% 9.9% 17.2%
Max Negative -9.5% -10.4% -8.2%
				Collapse to Preview  Forward Returns
Earnings Date 1D Returns 5D Returns 21D Returns
4/22/2026 1.6% 4.9% 2.8%
1/28/2026 -6.1% -3.2% 0.2%
10/22/2025 -4.7% -2.9% -7.7%
7/23/2025 -1.9% 0.7% 1.8%
4/16/2025 2.7% 9.9% 14.7%
1/29/2025 2.6% 2.0% 4.7%
10/23/2024 -5.1% -7.1% 1.5%
7/24/2024 0.4% 6.7% -2.4%
4/24/2024 -2.0% -6.3% -0.2%
1/24/2024 5.0% 4.0% 1.2%
10/25/2023 1.3% 6.2% 17.2%
7/26/2023 -1.1% -0.4% -8.2%
4/26/2023 1.7% 5.8% 10.1%
1/25/2023 -9.5% 0.2% 0.2%
10/26/2022 -4.6% 0.8% 8.1%
7/27/2022 -4.7% -10.4% -7.2%
4/27/2022 -0.6% 0.5% -2.2%
1/28/2022 -4.2% -4.4% -5.0%
10/29/2021 -1.7% -2.6% -1.8%
7/30/2021 -0.3% 0.7% 3.6%
4/30/2021 0.7% 2.4% 5.7%
2/1/2021 1.8% 5.1% 7.3%
10/30/2020 0.3% -0.3% 8.0%
7/31/2020 -3.7% -0.7% 5.3%
SUMMARY STATS      
# Positive 10 14 16
# Negative 14 10 8
Median Positive 1.7% 3.2% 5.0%
Median Negative -4.0% -3.1% -3.7%
Max Positive 5.0% 9.9% 17.2%
Max Negative -9.5% -10.4% -8.2%
			
		
		
			
				
				 SEC Filings
				Expand for MoreReport Date Filing Date Filing
03/31/2026 05/07/2026 10-Q
12/31/2025 03/05/2026 10-K
09/30/2025 11/06/2025 10-Q
06/30/2025 08/07/2025 10-Q
03/31/2025 05/08/2025 10-Q
12/31/2024 03/06/2025 10-K
09/30/2024 11/07/2024 10-Q
06/30/2024 08/08/2024 10-Q
03/31/2024 05/09/2024 10-Q
12/31/2023 03/07/2024 10-K
09/30/2023 11/08/2023 10-Q
06/30/2023 08/08/2023 10-Q
03/31/2023 05/05/2023 10-Q
12/31/2022 03/09/2023 10-K
09/30/2022 11/08/2022 10-Q
06/30/2022 08/04/2022 10-Q
				Collapse to PreviewReport Date Filing Date Filing
03/31/2026 05/07/2026 10-Q
12/31/2025 03/05/2026 10-K
09/30/2025 11/06/2025 10-Q
06/30/2025 08/07/2025 10-Q
03/31/2025 05/08/2025 10-Q
12/31/2024 03/06/2025 10-K
09/30/2024 11/07/2024 10-Q
06/30/2024 08/08/2024 10-Q
03/31/2024 05/09/2024 10-Q
12/31/2023 03/07/2024 10-K
09/30/2023 11/08/2023 10-Q
06/30/2023 08/08/2023 10-Q
03/31/2023 05/05/2023 10-Q
12/31/2022 03/09/2023 10-K
09/30/2022 11/08/2022 10-Q
06/30/2022 08/04/2022 10-Q
03/31/2022 05/05/2022 10-Q
12/31/2021 03/09/2022 10-K
09/30/2021 11/04/2021 10-Q
06/30/2021 08/05/2021 10-Q
03/31/2021 05/06/2021 10-Q
12/31/2020 03/04/2021 10-K
09/30/2020 11/05/2020 10-Q
06/30/2020 08/06/2020 10-Q
03/31/2020 05/07/2020 10-Q
12/31/2019 03/05/2020 10-K
09/30/2019 11/06/2019 10-Q
06/30/2019 08/07/2019 10-Q
			
		
	

	
		
			
				
				
				    Recent Forward Guidance
				    Updated 5/31/2026
				
				Latest: Q1 2026 Earnings Reported 4/22/2026
				Forward Guidance Guidance Change
Metric Low Mid High % Chg % Delta Change Prior
Q2 2026 Net Interest Margin Expansion   0.25%     0.2% Higher New 
				Prior: Q4 2025 Earnings Reported 1/28/2026
				Forward Guidance Guidance Change
Metric Low Mid High % Chg % Delta Change Prior
2026 Net Interest Margin             
2026 Annual Cost Savings   2.00 Mil         
2026 EPS Impact   0.04         
			
		
	

	
		
			
				
				
				    Insider Activity
				    Updated 5/12/2026
				
				Expand for More# Owner Title Holding Action Filing Date Price Shares Transacted
Value Value of
Held Shares Form
1 Varischetti, Nicholas D   Nicholas D. Varischetti 2011 Irrevocable Trust Buy 3302026 12.90 2,000 25,800 2,950,888 Form
2 Varischetti, Nicholas D   Nicholas D. Varischetti 2011 Irrevocable Trust Buy 3272026 12.97 73,000 946,810 2,940,960 Form
3 Richardson, Gina A   Direct Buy 3192026 12.43 441 5,482 196,481 Form
4 Muransky, Edward   Direct Buy 3042026 12.74 40,000 509,600 2,497,295 Form
5 Wallace, Amber B SEVP/Chief Retail & Marketing Direct Buy 2242026 13.02 15 195 726,894 Form
				Collapse to Preview# Owner Title Holding Action Filing Date Price Shares Transacted
Value Value of
Held Shares Form
1 Varischetti, Nicholas D   Nicholas D. Varischetti 2011 Irrevocable Trust Buy 3302026 12.90 2,000 25,800 2,950,888 Form
2 Varischetti, Nicholas D   Nicholas D. Varischetti 2011 Irrevocable Trust Buy 3272026 12.97 73,000 946,810 2,940,960 Form
3 Richardson, Gina A   Direct Buy 3192026 12.43 441 5,482 196,481 Form
4 Muransky, Edward   Direct Buy 3042026 12.74 40,000 509,600 2,497,295 Form
5 Wallace, Amber B SEVP/Chief Retail & Marketing Direct Buy 2242026 13.02 15 195 726,894 Form
6 Wallace, Amber B SEVP/Chief Retail & Marketing Direct Buy 2242026 13.35 14 187 745,117 Form
7 Richardson, Gina A   Direct Buy 10302025 12.99 1,833 23,811 179,561 Form
8 Muransky, Edward   Edward W Muransky Rev Trust Buy 10272025 13.59 73,500 998,865 1,504,495 Form
			
		
	
	
	
		
			
				
				 FMNB Trade Sentinel
				
				
					
						
					
					
						
					
					
						
					
					
						
					
				
				
				
				
				
					
						
							
								
									
										Stock Conviction									
										null
									
								
								
									
										CONVICTION RATIONALE
										null
									
								
								
									
										
											STOCK ARCHETYPE
											null
										
										null
									
								
							

							
								Looking for high-conviction positions with a better risk/reward profile? See what's currently in the 
								Trefis High Quality Portfolio.
							

							
								
									
										INVESTMENT THESIS
										null
										null
										
										
											Mechanism:
											null
										
										
										
											Supporting Evidence:
											
												
											
										
									
								
								
								
									
										PRIMARY RISK
										null
										null
										
										
											Mechanism:
											null
										
										
										
											Supporting Evidence:
											
												
											
										
									
								
							

							
								Key KPI Watchlist
								
									
										
											
												
													KPI
													Threshold
													Rationale
												
											
											
												
											
										
									
								
							

						
					

					
						
							
								Core Investment Debate
								
							

							
								
									
										BULL VIEW
										
									
								
								
									
										CORE TENSION
										
										
										PREVAILING SENTIMENT
										
										
									
								
								
									
										BEAR VIEW
										
									
								
							

							
								Next 6 months: Risks and Catalysts
								
									
										
											
												
													Timeline
													Event & Metric To Watch
												
											
											
												
											
										
									
								
							

							
								Key Events in Last 6 Months
								
									
										
											
												
													Date
													Event
													Stock Impact
												
											
											
												
											
										
									
								
							

							
								Risk Management
								
									
										
											 Position Sizing
											
											
											
										
										
											 Diversification Alternatives
											
												
											
										
									
								
							
						
					

					
						
							How Is The Market Pricing FMNB?

							
								
									
								
							

							
								
									
								
							

							
								
									
										 What will confirm the thesis
										
									
								

								
									
										 What will damage the thesis
										
									
								

								
									
										 Noise: Real but irrelevant to thesis
										
									
								
							

							
								Repricing Catalyst
								
							

							
								What FMNB Makes & Who Pays

								
									
										TTM figures based on 
									
								
								
								
									
								
							

							
								FMNB Evolution: Price Return by Era
								
								
								

								
									
										
									
								
							

						
					

					
						
						
							
							
								
								

								
									
										① Structure
										
											0
											
										
										
									
									
										② Volume / Momentum
										
											0
											
										
										
									
									
										③ Catalyst
										
											0
											
										
										
									
								

								
									Combined Score
									
										
									
									0 / 12
								
							

							
								
									1
									Price Structure & Trend
									 · 
									▾
								
								
									
										▲
										
									

									
										
											Current
											$
											
											
										
										
											20D SMA
											$
											
											Below
										
										
											50D SMA
											$
											Slope: %
											Below
										
										
											200D SMA
											$
											Slope: %
											Below
										
									

									
										✕
										 —  trading days ago
									

									
										
											52W High
											$
										
										
											From 52W High
											%
										
										
											All-Time High
											$
										
										
											From ATH
											%
										
									
									
										
											52W Low
											$
										
										
											From 52W Low
											%
										
									
								
							

							
								
									2
									Momentum
									
									▾
								
								
									
										↑
										
									

									
										
											5D
											%
											
										
										
											20D
											%
											
										
										
											63D
											%
											
										
										
											126D
											%
											
										
										
											252D
											%
											
										
									
								
							

							
								
									3
									Relative Strength vs. SPY
									
									▾
								
								
									
										↑
										
									

									
										
											20D
											
											%
										
										
											63D
											
											%
										
										
											126D
											
											%
										
										
											252D
											
											%
										
									

									
										
											RS Trend
											%
										
										
											RS Character
											
										
									
								
							

							
								
									4
									Institutional Footprint & Volume
									
									▾
								
								
									
										↓
										
									
									
										◈
										
									

									
										
											Score
											
										
										
											Up/Down Vol 20D
											
										
										
											Up/Down Vol 60D
											
										
									
									
										
											OBV Slope 20D
											
										
										
											OBV Slope 60D
											
										
										
											Hi-Conv Up Days
											
											Past 60D
										
										
											Hi-Conv Down Days
											
											Past 60D
										
									
									
										
											Volume Trend
											
											20D avg vs 60D avg
										
										
									
								
							

							
								
									5
									Volatility
									
									▾
								
								
									
										≈
										
									
									
										
											HV 20D
											%
										
										
											HV 60D
											%
										
										
											HV 252D
											%
										
									
									
										
											Compression Ratio
											
										
										
											ATR 14D
											%
										
									
								
							

							
								
									6
									Key Price Levels
									Range · Vol 
									▾
								
								
									
										◈
										
									
									
										
											Nearest Resistance
											$
											% away ·  touches
										
										
											Nearest Support
											$
											% away ·  touches
										
										
											2nd Support
											$
											 touches
										
										
											Risk / Reward
											×
										
									
									
										
											Approach Volume
											
										
										
											Current Price
											$
										
									
								
							

							
								
									7
									Earnings Reaction History
									
									▾
								
								
									
										★
										
									
									
										
											
												
												
											
											
												%
												Earnings Day Return · Vol Spike ×
												
													
														5D
														%
													
													
														10D
														%
													
													
														20D
														%
													
													
														Post Vol
														×
													
												
												
												
											
										
										
											
												
												
											
											
												%
												Earnings Day Return · Vol Spike ×
												
													
														5D
														%
													
													
														10D
														%
													
													
														20D
														%
													
													
														Post Vol
														×
													
												
												
												
											
										
									
								
							

							
								
									8
									How the Verdict Is Derived
									Three Pillars
									▾
								
								
									
										
											
												Pillar
												Score
											
										
										
											
												① Structure
												0
											
											
												② Vol / Mom
												0
											
											
												③ Catalyst
												0
											
										
									
									
										ℹ
										
											Bull Pillars: 0 ·
											Bear Pillars: 0 ·
											Combined Score: 0 →
											
										
									
								
							

							
								Price Intelligence is derived from price-volume pattern analysis only. All moving averages are simple (SMA). Relative strength benchmarked against SPY.
							
						
					
					
				
			
		
	
	
	
		
			
				
				
			
		
	
	
		
			
				
				 Industry Resources
Financials Resources
Federal Reserve Economic Data
Federal Reserve
FDIC Data
American Banker
The Banker
Banking Technology
Regional Banks Resources
Bank Director
Independent Banker
S&P Global Market Intelligence
			
		
		
			
				
				 External Quote Links
0 Y Finance Barrons
1 TradingView Morningstar
2 SeekingAlpha ValueLine
3 Motley Fool Robinhood
4 CNBC Etrade
5 MarketWatch Unusual Whales
6 YCharts Perplexity Finance
7 FinViz  

Prefer one of these to Trefis? Tell us why. 
			
		
	

	
		
		        Core Cache Last Updated: 6/14/2026

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

	Title	Date
0	DASHBOARDS
1	Farmers National Banc Stock Jump Looks Great, But How Secure Is That Gain?	10/17/2025

	FMNB	WSBC	CBU	FCF	STBA	SRCE	Median
Name	Farmers .	Wesbanco	Communit.	First Co.	S&T Banc.	1st Sour.
Mkt Price	14.53	36.77	66.18	19.91	47.85	78.52	42.31
Mkt Cap	0.6	3.5	3.5	2.0	1.8	1.9	2.0
Rev LTM	200	1,038	836	538	410	443	491
Op Inc LTM	-	-	-	-	-	-	-
FCF LTM	47	415	242	203	143	202	202
FCF 3Y Avg	53	244	217	156	155	196	176
CFO LTM	52	423	311	218	147	210	214
CFO 3Y Avg	61	255	256	172	159	206	189

$ Mil	2025	2024	2023	2022	2021
Bank Segment	230	222	173	153	136
Other revenues	35	34
Trust Segment	15	13	12	20	11
Eliminations and other			-5	-4	-1
Total	280	269	180	168	146

$ Mil	2015	2014	2013	2012	2011
Bank	14	12	11	13	12
Trust	1	1	1	1	1
Retirement Consulting	0	-1	-0
Eliminations and other	-5	-1	-2
Others				-1	-1
Total	11	12	9	13	12

$ Mil	2025	2024	2023	2022	2021
Bank Segment	5,230	5,104	5,065	4,064	4,125
Trust Segment	17	17	16	14	14
Eliminations and other	-1	-2	-3	4	4
Total	5,246	5,119	5,078	4,082	4,143

Market Price	$14.53
Market Cap ($ Bil)	0.6
First Trading Date	01/04/1999
Distance from 52W High	-0.4%
	50 Days	200 Days
DMA Price	$13.88	$13.41
DMA Trend	indeterminate	up
Distance from DMA	4.7%	8.4%
	3M	1YR
Volatility	19.3%	25.1%
Downside Capture	26.54	75.05
Upside Capture	73.06	73.98
Correlation (SPY)	26.5%	34.6%

	1M	2M	3M	6M	1Y	3Y
Beta	0.63	0.78	0.49	0.56	0.80	0.75
Up Beta	0.81	0.58	0.42	0.62	1.03	0.77
Down Beta	0.92	0.15	0.34	0.21	0.53	0.64
Up Capture	35%	73%	60%	60%	67%	47%
Bmk +ve Days	13	28	36	67	141	432
Stock +ve Days	10	25	35	68	136	367
Down Capture	73%	156%	49%	70%	91%	94%
Bmk -ve Days	7	13	27	57	109	318
Stock -ve Days	10	15	25	51	105	367

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with FMNB
FMNB	14.3%	25.1%	0.49	-
Sector ETF (XLF)	6.2%	14.7%	0.20	52.9%
Equity (SPY)	24.9%	12.3%	1.52	34.5%
Gold (GLD)	25.5%	27.4%	0.81	-4.4%
Commodities (DBC)	30.1%	19.0%	1.25	-21.8%
Real Estate (VNQ)	13.5%	13.5%	0.69	39.6%
Bitcoin (BTCUSD)	-41.7%	42.2%	-1.16	20.1%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with FMNB
FMNB	1.2%	28.6%	0.06	-
Sector ETF (XLF)	8.8%	18.6%	0.35	55.4%
Equity (SPY)	13.5%	17.1%	0.61	39.6%
Gold (GLD)	16.8%	18.2%	0.75	-0.5%
Commodities (DBC)	8.4%	19.4%	0.33	6.1%
Real Estate (VNQ)	2.8%	18.8%	0.05	42.6%
Bitcoin (BTCUSD)	13.6%	54.4%	0.44	15.0%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with FMNB
FMNB	8.4%	32.4%	0.33	-
Sector ETF (XLF)	12.9%	22.2%	0.53	60.9%
Equity (SPY)	15.3%	17.9%	0.73	45.8%
Gold (GLD)	12.5%	16.1%	0.64	-4.4%
Commodities (DBC)	6.7%	18.0%	0.29	11.4%
Real Estate (VNQ)	5.7%	20.7%	0.24	44.7%
Bitcoin (BTCUSD)	60.3%	66.8%	1.00	12.5%

Short Interest: As Of Date	5292026
Short Interest: Shares Quantity	1.0 Mil
Short Interest: % Change Since 5152026	25.2%
Average Daily Volume	0.3 Mil
Days-to-Cover Short Interest	3.3 days
Basic Shares Quantity	44.7 Mil
Short % of Basic Shares	2.1%

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
4/22/2026	1.6%	4.9%	2.8%
1/28/2026	-6.1%	-3.2%	0.2%
10/22/2025	-4.7%	-2.9%	-7.7%
7/23/2025	-1.9%	0.7%	1.8%
4/16/2025	2.7%	9.9%	14.7%
1/29/2025	2.6%	2.0%	4.7%
10/23/2024	-5.1%	-7.1%	1.5%
7/24/2024	0.4%	6.7%	-2.4%
...
SUMMARY STATS
# Positive	10	14	16
# Negative	14	10	8
Median Positive	1.7%	3.2%	5.0%
Median Negative	-4.0%	-3.1%	-3.7%
Max Positive	5.0%	9.9%	17.2%
Max Negative	-9.5%	-10.4%	-8.2%

Report Date	Filing Date	Filing
03/31/2026	05/07/2026	10-Q
12/31/2025	03/05/2026	10-K
09/30/2025	11/06/2025	10-Q
06/30/2025	08/07/2025	10-Q
03/31/2025	05/08/2025	10-Q
12/31/2024	03/06/2025	10-K
09/30/2024	11/07/2024	10-Q
06/30/2024	08/08/2024	10-Q
03/31/2024	05/09/2024	10-Q
12/31/2023	03/07/2024	10-K
09/30/2023	11/08/2023	10-Q
06/30/2023	08/08/2023	10-Q
03/31/2023	05/05/2023	10-Q
12/31/2022	03/09/2023	10-K
09/30/2022	11/08/2022	10-Q
06/30/2022	08/04/2022	10-Q

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2026 Net Interest Margin Expansion		0.25%			0.2%	Higher New

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Varischetti, Nicholas D		Nicholas D. Varischetti 2011 Irrevocable Trust	Buy	3302026	12.90	2,000	25,800	2,950,888	Form
2	Varischetti, Nicholas D		Nicholas D. Varischetti 2011 Irrevocable Trust	Buy	3272026	12.97	73,000	946,810	2,940,960	Form
3	Richardson, Gina A		Direct	Buy	3192026	12.43	441	5,482	196,481	Form
4	Muransky, Edward		Direct	Buy	3042026	12.74	40,000	509,600	2,497,295	Form
5	Wallace, Amber B	SEVP/Chief Retail & Marketing	Direct	Buy	2242026	13.02	15	195	726,894	Form

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Farmers National Banc (FMNB)

Market Price (6/15/2026): $14.55 | Market Cap: $649.7 MilSector: Financials | Industry: Regional Banks

Farmers National Banc (FMNB)

Market Price (6/15/2026): $14.55Market Cap: $649.7 MilSector: FinancialsIndustry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Farmers National Banc (FMNB)

Key Risks to Farmers National Banc (FMNB)

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. Farmers National Banc (FMNB)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

FDA Approved Drugs Data

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Recent Forward Guidance

Insider Activity

FMNB Trade Sentinel

null

CONVICTION RATIONALE

STOCK ARCHETYPE

INVESTMENT THESIS

PRIMARY RISK

BULL VIEW

CORE TENSION

Market Price (6/15/2026): $14.55
Market Cap: $649.7 Mil
Sector: Financials
Industry: Regional Banks