For Farmers National Bank, 2025 was defined by strong performance and a transformative acquisition that will reshape the bank’s future.
The bank extended its streak to 172 profitable consecutive quarters – 43 years without a quarterly miss. Noninterest income grew to $12.1 million in the fourth quarter, up from $11.4 million in the same period of 2024, driven by strong performance across multiple business lines. Deposits for the year increased $76 million, further solidifying the bank’s financial foundation.
Farmers announced a definitive merger agreement with Middlefield Banc Corp., followed by the receipt of regulatory and shareholder approval for the all-stock transaction. The merger brings together two high-performing community banks with complementary markets, shared values and a common vision for growth. It represents Farmers’ seventh bank acquisition in the last 10 years and reflects the bank’s track record of executing and integrating strategic mergers.
Once the merger legally closes, planned for the first quarter of 2026 with a technical conversion set for August 2026, the combined institution will have approximately $7.4 billion in assets and 83 branches serving northeastern and central Ohio and western Pennsylvania. The transaction is expected to enhance profitability through increased operating leverage, produce accretive pro forma tangible common equity and tangible assets and drive future shareholder value through meaningful earnings per share accretion.
“This merger is a pivotal moment for Farmers National Bank,” says Kevin J. Helmick, Farmers’ president and CEO. “The combination with Middlefield not only deepens our presence in northeast Ohio but meaningfully expands our footprint across central and western Ohio markets, including the Columbus region where we are making strategic investments to grow in Ohio’s largest and fastest-growing market. Together, we are creating a larger, more diversified institution with enhanced scale, deeper relationships and a stronger foundation to drive long-term value – all while preserving the community banking values that have driven 43 years of uninterrupted profitability.”
The bank’s wealth management division delivered an exceptional year, Helmick says, with assets under care reaching a record $4.7 billion – up half a billion dollars from $4.2 billion in 2024. Revenue across the division grew 18%, fueled by strong performance in recently acquired markets and growth across trust services, retail investment and insurance services.
A key driver of the division’s success has been the bank’s relationship-guided culture. Small business owners who work with Farmers’ commercial lending or treasury management professionals frequently bring their consumer loan and wealth management needs to the bank as well. Retail banking had a record year of referrals to the investment team and private bankers referred significant new business to the Trust Company – demonstrating the power of Farmers’ integrated approach to serving its clients.
Farmers Trust Company, a cornerstone of the wealth management division, had a standout year driven by strong customer retention, organic growth and the successful acquisition of Crest Retirement Services, which expanded its reach into the Columbus market.
Looking ahead, Farmers is also investing in the customer’s digital experience with an enhanced online and mobile banking platform scheduled to launch in August 2026. The upgrade reflects the bank’s ongoing commitment to pairing its relationship-driven culture with advanced banking technologies.
“As we prepare to welcome Middlefield Bank into the Farmers family, we do so from a position of strength,” Helmick adds. “Our strong financial performance, growing wealth management division and continued investment in technology position us to deliver even greater value to our customers, communities and shareholders in the years ahead.”
