Farmers National posts $14.5 million third-quarter profit as Middlefield integration wraps
Editorial illustration — Press Pass USACanfield-based Farmers National Banc Corp. reported third-quarter net income of $14.5 million, or 25 cents per diluted share, as it completed a core technology conversion and the integration of its March acquisition of Middlefield Banc Corp., the company announced.
The reported profit compares with $12.5 million, or 33 cents per diluted share, in the same period last year. The quarter included $6.1 million in expenses related to the Middlefield acquisition and core conversion costs, a $10.3 million loss on the sale of securities and $600,000 in severance costs. Excluding those items, adjusted net income was $28 million, or 47 cents per diluted share.
Net interest income rose to $57.9 million from $36.3 million a year earlier, and net interest margin increased to 3.54% from 3.00%. Total assets were $7.12 billion at September 30, compared with $5.25 billion at the end of 2025, with the Middlefield acquisition adding $1.82 billion in assets. Total loans reached $4.8 billion and total deposits were $5.81 billion at quarter's end.
“As expected, the third quarter was a period of strategic execution and transformation for Farmers, as we completed our core technology conversion, executed the integration of the March 2026 Middlefield acquisition, and repositioned our investment securities portfolio,” President and CEO Kevin J. Helmick said. “With these significant initiatives largely behind us, we expect to begin realizing their financial benefits in the fourth quarter, with additional contributions expected in 2027.”
Sources: Business Journal Daily (Oct 28, 2026); Business Wire / Farmers National Banc Corp. (Oct 28, 2026).
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