Farmers National Q2 EPS $0.47 ($0.49 adjusted); loans ex-PPP grow 15.7% annualized; Emclaire merger shareholder-approved

FARMERS NATIONAL BANC CORP /OH/

2022-Q2 EPS reported $0.94

Net income $16.0M ($0.47 diluted GAAP); adjusted EPS $0.49 excluding merger costs and security losses.
Loan growth ex-PPP of $89.6M (15.7% annualized); broad-based strength across all major loan categories.
Emclaire Financial (EMCF) shareholders approved merger; expected close after regulatory approvals (Emclaire: $1.0B assets).
Net interest margin 3.25% vs 3.52% YoY, driven by lower PPP income and higher securities mix.
Tangible book value per share fell to $6.46 from $10.91 at Dec 2021 due to AFS securities unrealized loss of $206.1M.

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