FARMERS NATIONAL BANC CORP /OH/ Business Summary

Farmers National Banc Corp (FMNB) is a diversified financial services holding company that generates revenue primarily through net interest income from its multi-billion dollar loan portfolio and non-interest income derived from wealth management, trust services, and insurance premiums. The company operates through two primary segments: the Bank segment, providing traditional commercial and retail banking, and the Trust segment, which offers retirement consulting and asset management. As of February 2026, FMNB is finalizing a transformative merger with Middlefield Banc Corp., a deal approved by shareholders on February 10, 2026, to significantly expand its footprint across Northeast Ohio and Western Pennsylvania. Its direct competitors include S&T Bancorp (STBA), First Busey (BUSE), and Independent Bank (IBCP), against whom FMNB competes by leveraging a high-touch community banking model and a disciplined M&A strategy that has yielded 172 consecutive quarters of profitability. The leadership team is anchored by President and CEO Kevin J. Helmick, a company veteran who joined as a teller in 1994 and has directed the bank’s expansion since 2013. He is supported by Executive Vice President and CFO Troy Adair, an expert in capital management and regulatory compliance, and Tim Shaffer, who was elevated to Chief Banking Officer in January 2025 to oversee credit and lending strategy. The Board of Directors is led by Chairman Terry A. Moore, a seasoned legal professional. Founded in 1887, the corporation has evolved from a local lender into a robust regional player with significant institutional backing from major investors including BlackRock, The Vanguard Group, and Dimensional Fund Advisors. This veteran executive suite and stable capital base position FMNB to integrate its recent acquisitions while maintaining its hallmark conservative credit culture.