CANFIELD, Ohio – Farmers National Banc Corp. on Wednesday reported net income of $13.9 million, or 37 cents per diluted share, for the second quarter of 2025, compared with $11.8 million, or 31 cents per diluted share, for the second quarter of 2024. 

Net income for the second quarter included pretax gains on the sale of investments securities and other assets totaling $173,000. Excluding these items (non-GAAP), net income for the second quarter was $13.8 million, or 37 cents per diluted share.

“Our strong second quarter results reflect the continued success of our approach to community banking and the disciplined execution of our long-term growth strategy,” said Kevin J. Helmick, president and CEO of Farmers. “Higher profitability was driven by year-over-year growth in multiple lines of business, demonstrating the value we deliver to our Ohio and Pennsylvania communities. The improvement in our efficiency ratio is also encouraging, as we remain focused on prudent expense management. These results are a testament to our dedicated associates and the power of our diverse, relationship-driven banking model.”

Total assets increased to $5.18 billion in the second quarter, from $5.16 billion on March 31 and $5.12 billion on Dec. 31, 2024. Loans increased to $3.3 billion on June 30, from $3.25 billion on March 31 and $3.27 billion on Dec. 31, 2024. The increase from the prior quarter was primarily due to strong growth in the commercial area, with an increase in balances of $43.6%, or 8.8% annualized growth.

Other highlights include:

  • Farmers had securities available for sale totaling $1.27 billion on June 30, compared with $1.28 billion as of March 31 and $1.27 billion on Dec. 31, 2024. Farmers anticipates continued rate volatility in the bond market in 2025, which will continue to affect the value of the portfolio.
  • Total deposits declined between March 31 and June 30 but are up $129.6 million since Dec. 31, 2024. The decline since March 31 was primarily due to a decline in the use of brokered CDs, while the increase since December was due to public funds seasonality and overall growth in deposit balances.
  • Nonperforming loans increased to $27.8 million on June 30, from $20.7 million on March 31 and $22.8 million on Dec. 31, 2024.
  • Net interest income increased to $34.9 million in the second quarter, compared with $32.1 million in the second quarter of 2024. Average interest earning assets increased to $4.89 billion in the second quarter, compared with $4.83 billion in the second quarter of 2024.
  • Noninterest income increased to $12.1 million in the second quarter, from $9.6 million in the second quarter of 2024 due to continued improvement in many fee-based lines of business and a lower level of losses on the sale of available for sale securities.

The full report can be viewed HERE.