Farmers National Banc reports Q4 EPS 39c, consensus 34c

Kevin J. Helmick, President and CEO, stated “Our team has done an outstanding job navigating a dynamic economic and interest rate cycle in 2024. We are proud to provide our Ohio and Pennsylvania communities with diverse, personalized, and market-leading financial solutions and are excited about expanding our fee business into the greater Columbus market with the acquisition of Crest Retirement. Our fourth quarter performance highlights the positive momentum underway in our business and we continue to believe Farmers is very well positioned to grow earnings in 2025.” The Company recorded $32.7M of net interest income in the fourth quarter of 2024 compared to $32.8M in the fourth quarter of 2023. Average interest earning assets increased to $4.91B in the fourth quarter of 2024 compared to $4.82B for the fourth quarter of 2023. The increase was driven by an increase in average loan balances of $82.2 million and an increase in federal funds sold and other earning assets of $39.1M.