Banking & Finance

Farmers Banc Corp. Increases Dividend 50%

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CANFIELD, Ohio – Farmers National Banc Corp. will pay a cash dividend of 6 cents per share Sept. 29 to shareholders of record Sept. 8.

The third quarter dividend was declared Tuesday by the company’s board of directors. It represents a 50% increase over the 2016 third-quarter dividend payment, says Kevin Helmick, CEO and president.

“Farmers profitability continues to expand as a result of the successful execution of our growth strategy and controlled spending,” Helmick said in a prepared statement. “The expansion in the third quarter dividend represents the second dividend increase in the past twelve months, and reflects the board of directors’ confidence in our business outlook and commitment to returning value to shareholders.”

Farmers National Banc Corp., founded in 1887, is the holding company for Farmers National Bank, which operates 39 banking offices in Mahoning, Trumbull, Columbiana, Stark, Summit, Wayne, Medina, Holmes and Cuyahoga counties in Ohio and Beaver County in Pennsylvania. Other wholly-owned subsidiaries are Farmers Trust Co. and Farmers National Insurance LLC.

The company reports more than $2 billion in banking assets and $1 billion in trust assets.

Published by The Business Journal, Youngstown, Ohio.