CANFIELD, Ohio – Farmers National Banc Corp. on Monday announced the completion of its merger with Middlefield Banc Corp.
Middlefield Bank was merged with and into Farmers National Bank, bringing Farmers’ banking assets to $7.4 billion and more than $4.7 billion in wealth management assets under care.
Farmers now has 83 branches in Ohio and Pennsylvania.
“We are excited to complete this transaction and welcome Middlefield’s customers, employees and shareholders to Farmers,” said Kevin J. Helmick, president and CEO of Farmers. “This marks our seventh bank acquisition in the last decade and reflects our proven track record of successfully executing and integrating strategic combinations.”
Farmers also added Kevin A. DiGeronimo and Michael C. Voinovich – former members of Middlefield’s board – to its board of directors.
DiGeronimo is a principal at the DiGeronimo Companies, a development and construction company working on several projects throughout Ohio.
Voinovich is executive vice president and CIO of ECHO Health Inc., a payment processing services provider for the health care and insurance industries.
“Both Michael and Kevin have diverse backgrounds and business acumen that will be a great asset to our board and shareholders. We welcome them to our board of directors and look forward to working together,” Helmick said.
The merger was announced Oct. 22, with the proposed transaction valued at $299 million.
“The merger deepens our presence in northeast Ohio, while meaningfully expanding our footprint across central and western Ohio, including the Columbus region, where we are making targeted investments in Ohio’s largest and fastest-growing market,” Helmick said. “This transaction creates a larger, more diversified franchise with enhanced scale, stronger customer relationships and a solid foundation to drive sustainable growth and long-term shareholder value.”