New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 29, 2014
08:17 EDTFMNBFarmers National Banc announces 2014 Odd Lot Buy Back program
Farmers National Banc's Board of Directors has approved a voluntary Odd Lot Buy Back. The company is offering to purchase shares from shareholders who own 99 or fewer shares of the company’s common stock on or after July 29, 2014, the effective date for the Program, through the intended expiration date on August 29, 2014, and who continue to hold such shares, at a price of $7.68 per share, subject to the Program’s terms and conditions. The Program provides Farmers with the potential to reduce shareholder servicing and administrative costs. The voluntary Program also recognizes the inconvenience or potential costs that can deter shareholders from purchasing or selling fewer than 100 shares. The company will pay all costs associated with the Program. As of July 29, 2014, there were approximately 18,780,980 shares of common shares issued and outstanding, and approximately 4,669 record holders of our common shares. As of July 23, 2014, approximately 1,463, or 31%, of our record holders owned 99 or fewer of its common shares, representing a total of approximately 38,596 shares eligible for purchase under the Program.
News For FMNB From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
June 24, 2015
14:00 EDTFMNBFarmers National Banc sees Tri-State deal accretive to EPS by 5% in first year
Subscribe for More Information
08:50 EDTFMNBFarmers National Banc to host conference call
Subscribe for More Information
08:11 EDTFMNBFarmers National Banc Corp to acquire Tri-State First Banc
Farmers National Banc Corp and Tri-State First Banc announced they have entered into an agreement and plan of merger. Pursuant to the Agreement, each shareholder of Tri-State will be entitled to elect to receive either $14.20 per share in cash or 1.747 of Farmers’ common shares, subject to an overall limitation of 75% of the shares being exchanged for Farmers shares and 25% for cash. Based on Farmers’ closing share price of $8.20 on June 23, the transaction is valued at approximately $14.2M. The merger is expected to qualify as a tax-free reorganization for those shareholders electing to receive Farmers’ shares. The transaction is subject to receipt of Tri-State shareholder approval and customary regulatory approvals. The company expects the transaction to close in the fourth quarter of 2015. Upon consummation of the transaction, 1st National, a unit of Tri-State First Banc, will be merged with and into Farmers National Bank of Canfield, a subsidiary of Farmers National Banc Corp. At that time, 1st National branches will become branches of Farmers National. Upon closing, Farmers estimates it will have approximately $1.8B in assets and 38 banking locations throughout Ohio and western Pennsylvania. Farmers expects the transaction to be accretive to earnings per share for the first full year of operation, excluding one-time merger costs, and expects any tangible book value dilution created in the transaction to be earned back in approximately 2.3 years. Following consummation of the transaction, it is expected that Farmers National Bank will exceed “well-capitalized” thresholds under all regulatory definitions. As of March 31, 2015 Tri-State had total assets of $139.5M, which included gross loans of $67M and deposits of $122.9M. For the twelve months ended March 31, 2015, Tri-State’s return on average assets and return on average equity were 0.71% and 8.78%, respectively.
June 19, 2015
08:02 EDTFMNBFarmers National Banc, National Bancshares complete merger
Farmers National Banc (FMNB), the holding company for The Farmers National Bank of Canfield, announced that on June 19, it completed the merger of National Bancshares Corporation (NBOH), the holding company for First National Bank of Orrville, with and into Farmers. As a result of the Merger, shares of National Bancshares are no longer traded on the OTCQX marketplace. Immediately following the Merger, First National Bank was merged with and into Farmers National Bank.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use