Farmers National Banc reports Q2 EPS 37c, consensus 37c

Reports Q2 net interest income $34.9M vs. $32.1M last year. Reports Q2 net interest margin 2.91% vs. 2.71% last year. Tangible book value per share of $6.70 vs. $5.53 last year. Provision for credit losses was $3.5M vs. $1.1M last year. Kevin J. Helmick, President and CEO, stated “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. 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.”