Farmers National Banc Corp Q3 net income $8.5M ($0.23/diluted), down from $13.3M; credit charge impacts EPS by $0.12

FARMERS NATIONAL BANC CORP /OH/

2024-Q3 EPS reported $0.84 revenue$200,125,000

Net income of $8.5M ($0.23 diluted) vs $13.3M ($0.36) in Q3 2023; impacted by $4.4M charge-off on office credit.
Loan growth of $43.1M (5.3% annualized) driven by commercial loans; deposits up $81.1M (7.7% annualized).
Net interest margin declined to 2.66% from 2.86% a year ago; provision for credit losses jumped to $7.0M from $243K.
Noninterest income rose to $12.3M from $9.8M, aided by SBIC gains and $444K gain on sub debt buyback.
Non-performing loans increased to $19.1M (0.58% of loans) from $12.9M (0.40%) at June 30, 2024.

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