Farmers National Banc Oh ( (FMNB) ) has issued an update.
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Farmers National Banc Corp. reported a robust third quarter of 2024 with strong growth in commercial and overall loan portfolios, which increased by $35.2 million and $43.1 million respectively, alongside a notable rise in customer deposits by $81.1 million. The company achieved a net income of $8.5 million, though impacted by a substantial charge-off relating to a $12.5 million commercial credit. Despite challenges, the bank’s fee-based businesses, wealth management, and customer deposits continued to thrive, positioning it well for potential growth in 2025 amidst ongoing economic uncertainties.
Learn more about FMNB stock on TipRanks’ Stock Analysis page.