Farmers National Banc Corp. Reports 18.1% Increase in Q2 Net Income to $13.9 Million

Farmers National Banc Corp. reported a net income of $13.9 million, or $0.37 per diluted share, for the second quarter of 2025, reflecting a 18.1% increase from $11.8 million, or $0.31 per diluted share, in the same period last year. For the first half of 2025, net income reached $27.5 million, up from $23.0 million in the prior year. The increase in profitability was attributed to a rise in net interest income, which totaled $34.9 million for the quarter, compared to $32.1 million in the previous year, driven by a higher earning asset base and a 20 basis point increase in the net interest margin to 2.91%.

Total assets for Farmers National Banc Corp. increased to $5.18 billion as of June 30, 2025, compared to $5.12 billion at the end of 2024. The growth in assets was primarily due to an increase in net loans, which rose to $3.30 billion from $3.27 billion, supported by higher commercial and commercial real estate loans. Total deposits also saw a significant increase, rising to $4.40 billion from $4.27 billion, with customer deposits growing by $129.6 million, including a $34.7 million increase in public funds.

The company’s noninterest income for the second quarter of 2025 was $12.1 million, up from $9.6 million in the same quarter of 2024, reflecting improved performance across various fee-based lines of business. Notably, trust fees increased to $2.6 million, and insurance agency commissions grew to $1.8 million, driven by new business and higher volumes. The company also reported a decrease in losses on the sale of available-for-sale securities, with gains of $36,000 in the second quarter of 2025 compared to losses of $124,000 in the prior year.

Farmers National Banc Corp. has also made strategic moves, including the acquisition of Crest Retirement Advisors, which contributed to the growth in retirement plan consulting fees. The company’s allowance for credit losses increased to $38.6 million from $35.9 million, primarily due to specific reserves placed on two nonperforming loans. The company continues to maintain a strong capital position, with a common equity tier 1 capital ratio of 11.56% as of June 30, 2025, well above the regulatory minimum.

Looking ahead, Farmers National Banc Corp. anticipates continued growth in its loan portfolio while managing risks associated with economic conditions and interest rate fluctuations. The company remains focused on maintaining its liquidity and capital adequacy, with plans to strategically grow its lending operations across various sectors while monitoring market conditions closely.