Farmers National Bank

What Farmers National Bank does

Farmers National Bank (operating as The Farmers National Bank of Canfield, a subsidiary of publicly traded Farmers National Banc Corp., NASDAQ: FMNB) is a full-service community bank founded in 1887 and headquartered in Canfield, Ohio. Following the March 2026 completion of its merger with Middlefield Banc Corp., the combined entity operates 83 branches across Ohio and Pennsylvania with approximately $7.4 billion in banking assets and over $4.7 billion in wealth management assets under care. The bank serves retail consumers, small-to-medium businesses, high-net-worth individuals, and public/nonprofit organizations through consumer banking (checking, savings, credit cards, mortgages, home equity), business banking (commercial loans, SBA loans, agricultural lending), wealth management (Farmers Trust Company, Farmers National Investments, private banking), insurance (Farmers National Insurance/Bowers Group, Champion Insurance), and retirement plan administration (National Associates).

The bank's core technology stack consists of standard community banking infrastructure with digital channels including mobile banking apps for iOS and Android, comprehensive online banking platforms for consumer and business customers, and the SmartPay treasury management platform. Specialized digital tools include Farmers Card Manager (debit card fraud controls), a Mobile Mortgage App, and business online banking with positive pay controls. The bank integrates with Zelle for peer-to-peer payments, MoneyPass for surcharge-free ATM access at over 37,000 locations, FiNet for merchant services, IntraFi Network for Insured Cash Sweep, Netspend for payroll cards, IBM Trusteer for security, and Elan Financial Services for Mastercard credit card issuance.

Farmers National Bank generates revenue primarily through net interest income (net interest margin of approximately 3.05% as of Q4 2025) from the spread on commercial, mortgage, consumer, and agricultural loans, supplemented by non-interest income from deposit service fees, wealth management and trust fees, insurance commissions, mortgage banking revenue, and treasury management fees. The bank's go-to-market emphasizes local relationship-based banking through physical branches, with 137+ years of community presence serving as a key differentiator against large national banks. The bank has executed an aggressive acquisition strategy completing seven bank acquisitions in the past decade, with the Middlefield merger being the most recent and largest. The bank maintains a 5.19% dividend yield with 33 consecutive years of dividend payments, with reported 2025 revenue of approximately $181.5 million and net income of $54.6 million.

Name

Farmers National Bank

Legal name

Farmers National Banc Corp.

Website

https://farmersbankgroup.com

Company type

Public

Founded year

1887

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Farmers National Bank is a community bank holding company (NASDAQ: FMNB) operating 83 branches across Ohio and Pennsylvania with $7.4 billion in banking assets, serving retail consumers, small-to-medium businesses, and wealth management clients through consumer banking, commercial lending, trust services, insurance, and treasury management following its March 2026 merger with Middlefield Banc Corp.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Offices of Bank Holding Companies (551111)

SIC

State Commercial Banks (6022), National Commercial Banks (6021)

akta.pro primary industry

Consumer & Retail (CPG, Food, Apparel) (FSABACAM)

akta.pro secondary industry

Agricultural & Rural Development Banks (FSABAKAE)

Keywords

• Retail banking services
• Commercial lending
• Community banking
• Wealth management
• Mortgage lending

Headquarters

HQ city

Canfield

HQ country

United States

HQ region

North America

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Net Interest Income: Primary revenue source from the spread between interest earned on loans (including commercial, mortgage, consumer, and agricultural loans) and interest paid on deposits. The bank operates with a net interest margin of approximately 3.05% as reported in Q4 2025.
2. Non-Interest Income: Fees from deposit services, wealth management and trust services, insurance commissions, mortgage banking revenue, and treasury management fees. The bank completed merger expanding wealth management assets under care to over $4.7 billion.
3. Dividend Income: The bank maintains a consistent dividend policy with $0.68 annual dividends and has paid consecutive dividends for 33 years, currently yielding approximately 5%.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Farmers National Bank, operating through its holding company Farmers National Banc Corp. (NASDAQ: FMNB), is a full-service community bank offering consumer and commercial banking, mortgage lending, treasury management, wealth management, trust and investment services, and insurance products through 83 branches across Ohio and Pennsylvania. The bank generates the majority of revenue from net interest income on loans and deposits, supplemented by non-interest income from deposit fees, wealth management, mortgage banking, and insurance commissions.

Product overview

Farmers National Bank offers a comprehensive community banking platform organized into five main service areas: Consumer Banking (checking, savings, credit cards, personal loans, mortgages, and home equity products), Business Banking (business checking, savings, loans, and treasury management services), Wealth Management (trust services, private banking, investment services, and insurance through affiliated companies), Retirement Planning (Traditional and Roth IRAs, plus National Associates retirement plan administration), and Digital Banking (online and mobile platforms with specialized apps for consumer, business, and mortgage banking). The core products include multiple checking account tiers (Totally Green, Platinum, Bonus Checking), various savings options including Health Savings Accounts, a full mortgage product suite (fixed/variable rate, construction, VA, affordable housing), comprehensive business lending (commercial real estate, SBA, lines of credit), treasury management services (ACH, wire transfer, positive pay, merchant services), and trust/investment services. All services are delivered through 83 branch locations across Ohio and Pennsylvania following the merger with Middlefield Banc Corp.

Differentiator

Problem solved

Functional benefit

Brands

• Farmers Trust Company: Chartered by the Ohio Division of Financial Institutions, providing investment management, estate settlement, living trusts, and retirement plan services.
• Farmers National Investments
• Farmers National Insurance (Bowers Group)
• Farmers Card Manager

Products and services

• Personal Checking Accounts

Quantifiable outcome

• Net interest margin of 3.05% in Q4 2025
• +2 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Middlefield Banc Corp.coreStrategic or Co-development Partner · 22 October 2025All-stock merger transaction valued at approximately $299 million, completed in March 2026. Middlefield Banc Corp. merged into Farmers, with Middlefield Bank merging into The Farmers National Bank of Canfield. Combined entity has over $7.4 billion in banking assets and operates 83 branches across Ohio and Pennsylvania.
• Champion InsuranceminorStrategic or Co-development Partner · 6 July 2022Acquisition of Champion Insurance as part of Farmers National Banc's strategic expansion efforts in 2022.
• Cortland BankcoreStrategic or Co-development Partner · 23 June 2021Acquisition of Cortland Bank in Ohio valued at $124 million to expand asset base and market share in northeastern Ohio. The merger created a combined entity with approximately $4.1 billion in assets.
• GrowNow OhiominorChannel Partner/ Reseller/ DistributorParticipant in GrowNow Ohio program administered by Ohio Treasurer enabling small business owners to receive reduced interest rates on loans linked to job growth or retention.
• Small Business Administration (SBA)minorChannel Partner/ Reseller/ DistributorSBA preferred lender offering various SBA loan programs to help small business owners start, grow and succeed with reduced down-payment requirements and longer repayment terms.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Emclaire Financial Corp: Emclaire Financial Corp is a small community bank holding company headquartered in Western Pennsylvania, focused on community banking in the Pennsylvania market. Listed in Farmers' acquisition history, Emclaire is comparable as a smaller regional player in an overlapping geographic area and as a potential M&A target.

Direct peers

• S&T Bancorp: S&T Bancorp is a Pennsylvania-headquartered community bank holding company of comparable size operating across Western Pennsylvania and Ohio, with similar consumer/commercial banking and wealth management offerings. Comparable in scale, geographic focus, and product mix to Farmers National Banc Corp.
• United Bancshares (Ohio): United Bancshares is an Ohio-based community bank holding company of comparable scale operating exclusively in Ohio with similar consumer and small business banking products. Comparable in geographic focus, customer segments, and conservative community banking model.
• F.N.B. Corporation: F.N.B. Corporation is a similarly-sized regional bank holding company headquartered in Pittsburgh, PA, operating across Pennsylvania, Ohio, and surrounding states with a comparable mix of community banking, wealth management, and commercial lending. Directly comparable to Farmers in geographic overlap, business mix, and acquisition-driven growth strategy.
• CNB Financial Corp (CNB Bank): CNB Financial Corp is a Pennsylvania-headquartered community bank holding company of similar size operating across Pennsylvania, Ohio, and New York with comparable consumer, commercial, and wealth management products. Closely comparable in scale, geographic overlap, and community banking business model.
• Park National Corp: Park National Corporation is an Ohio-headquartered community bank holding company of similar size with operations across Ohio and adjacent states, focused on community banking and wealth management. Closely comparable to Farmers in geographic concentration, business model, and acquisition strategy.
• Civista Bancshares: Civista Bancshares is an Ohio-headquartered community bank holding company of similar size serving Ohio, Indiana, and Kentucky with a comparable mix of community banking, commercial lending, and mortgage services. Comparable in scale, geographic focus, and community banking orientation.

Broad incumbents

• KeyCorp: KeyCorp is a major Cleveland-based super-regional bank holding company with significant presence in Ohio, Pennsylvania, and across the Northeast. Substantially larger than Farmers but competing directly in Ohio commercial banking, retail, and wealth management segments. Relevant as a large incumbent competitor in the same geographic footprint.
• Huntington Bancshares: Huntington Bancshares is a large Ohio-headquartered super-regional bank with major presence across Ohio, Pennsylvania, and the Midwest. While significantly larger than Farmers, Huntington competes directly in the same primary markets with overlapping retail and commercial banking products. Comparable as a dominant incumbent competitor in Farmers' core footprint.
• First National Bank of Pennsylvania / FNB Corp: First National Bank of Pennsylvania operates a large retail/commercial banking network across Pennsylvania and Ohio with a broader product set than community banks. Functions as a large incumbent competitor in the Western Pennsylvania and Ohio markets where Farmers now operates post-Middlefield merger.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key highlights7 records

Customer concentration

• Xx.com/farmersbnkgroup
• Facebookfacebook.com/Farmersbankgroup

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A9 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Farmers National Bank