---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-019796"
form_type: "8-K"
ticker: "FMNB"
cik: "0000709337"
company_name: "FARMERS NATIONAL BANC CORP /OH/"
filed_at: "2022-01-27T23:59:59+00:00"
generated_at: "2026-06-27T15:09:47.768156+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Farmers National reports record 2021 net income of $51.8M; Cortland acquisition closed Nov 1, 2021

## Summary
- GAAP net income $51.8M ($1.77/share) vs $41.9M ($1.47) in 2020; adjusted EPS $2.13.
- Completed Cortland Bancorp merger in cash/stock valued at ~$128.5M; combined 48 branches.
- Issued $75M of subordinated debt at 3.125%.
- 156 consecutive quarters of profitability; Q4 core ROATE 18.5% and efficiency ratio 47.4% (non-GAAP).
- Allowance for credit losses 1.26% of loans; non-performing loans improved to 0.69%.

## SEC filing metadata
- accession: 0001193125-22-019796
- form_type: 8-K
- ticker: FMNB
- cik: 0000709337
- company_name: FARMERS NATIONAL BANC CORP /OH/
- filed_at: 2022-01-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/709337/000119312522019796/0001193125-22-019796-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/709337/000119312522019796/d300404d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-019796
- JSON: https://secwatch.observer/filing/0001193125-22-019796.json
- Plain text: https://secwatch.observer/filing/0001193125-22-019796.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.