Farmers National Banc Oh ( (FMNB) ) has issued an update.
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Farmers National Banc Corp. reported a robust third quarter of 2024 with strong growth in commercial and overall loan portfolios, which increased by $35.2 million and $43.1 million respectively, alongside a notable rise in customer deposits by $81.1 million. The company achieved a net income of $8.5 million, though impacted by a substantial charge-off relating to a $12.5 million commercial credit. Despite challenges, the bank’s fee-based businesses, wealth management, and customer deposits continued to thrive, positioning it well for potential growth in 2025 amidst ongoing economic uncertainties.
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