Farmers National Q1 adj EPS $0.51 flat YoY; Emclaire acquisition expected H2 2022

FARMERS NATIONAL BANC CORP /OH/

2022-Q1 EPS reported $0.47

GAAP diluted EPS $0.47 vs $0.51 YoY; adjusted EPS (non-GAAP) $0.51 flat.
Net income $15.8M; net interest income $31.2M; total assets $4.21B.
Efficiency ratio (adj) 48.2%; ROAA (adj) 1.65%; ROATE (adj) 19.5%.
Completed Cortland integration; announced Emclaire Financial (EMCF) acquisition ($1.1B assets, 19 PA branches).
NPLs declined to 0.61% of loans; allowance for credit losses 1.17%.

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