Farmers National earnings increase


July 28, 2010 at 12:00a.m.

Farmers National earnings increase

CANFIELD

Earnings increased in the second quarter of 2010, compared with the first quarter, Farmers National Bank Corp. reported Tuesday.

The bank, which is the holding company of Farmers National Bank of Canfield, Farmers National Insurance LLC and Farmers Trust Co., reported $2 million in net income for the second quarter, up from $1.067 million in the first quarter. The 2010 second-quarter net income was higher than the 2009 second quarter, which was $1.7 million.

Total assets increased by 5.95 percent compared with June 30, 2009, according to a company press release.

“Our second-quarter net income results also improved over the first quarter of 2010 because of a lower loan-loss provision,” said John S. Gulas, the bank’s president and chief executive, in the statement.

Vindicator staff report