Farmers National Q3 net income $13.3M ($0.36 EPS); adjusted EPS $0.40; net interest margin compresses to 2.86%

FARMERS NATIONAL BANC CORP /OH/

2023-Q3 EPS reported $0.94

Net income $13.3M ($0.36 diluted EPS) vs $15.4M ($0.46) in Q3 2022; adjusted EPS $0.40 (non-GAAP).
Net interest margin 2.86%, down 35 bps QoQ and 35 bps YoY; purchased $100M pay-fixed swaps to improve asset sensitivity.
Loans grew $763.8M YTD, primarily from Emclaire acquisition ($740.7M); organic loan growth modest at 1.7% annualized QoQ.
Non-performing assets/total assets 0.37%; provision for credit losses $243K; annualized net charge-offs 0.05%.
Total assets $4.97B; additional FHLB borrowing capacity $892.6M; unpledged AFS securities $353.8M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FARMERS NATIONAL BANC CORP /OH/ reported three months ended September 30, 2023 results: net income $13.3 million, EPS $0.36 per diluted share.

Period: three months ended September 30, 2023
Net income: $13.3 million
EPS: $0.36 per diluted share
Result: reported results

Exact text from the filing

Farmers National Banc Corp. (“Farmers” or the “Company”) (NASDAQ: FMNB) today announced net income of $13.3 million, or $0.36 per diluted share, for the three months ended September 30, 2023, compared to $15.4 million, or $0.46 per diluted share, for the three months ended September 30, 2022.

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FARMERS NATIONAL BANC CORP /OH/ filing history →

Source: SEC EDGAR

accession 0001193125-23-262293

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