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Farmers to begin trading stock on Nasdaq
By Karl Henkel
CANFIELD
Two years ago, the economy was just emerging from the trough of the worst recession since the Great Depression.
Farmers National Banc Corp., however, wasn’t just looking to make it through the hard times. It wanted to continue moving forward with its operations.
Thursday will be the culmination of those efforts, as the Canfield-based company will begin trading its shares on the Nasdaq Capital Market.
“We’ve been looking at this for some time,” Farmers president and CEO John Gulas told The Vindicator on Monday. “Nasdaq is where most of the community banks are.”
That’s why Farmers spent much of the past two years tying up loose ends to comply with Nasdaq regulations.
“We thought it was the best move for the future,” Gulas said.
Gulas said the benefits of trading on Nasdaq include increased liquidity and exposure to analysts and mutual funds.
“It helps us get our story out,” he said. “We’ve got a great story to tell, and more folks will be able to see that story.”
Farmers’ story will get some of that national exposure Thursday afternoon, when Gulas will ring the closing bell at the Nasdaq Stock Market in New York’s Times Square.
Farmers’ stock symbol will be FMNB, the same symbol it used as an over-the-counter stock. Shares of Farmers closed Monday at $4.20 a share.
Farmers, founded in 1887, has assets of $1.01 billion and has 18 retail banking offices and two trust offices throughout the Mahoning Valley.
There’s also Farmers National Insurance LLC, a wholly owned subsidiary of The Farmers National Bank, which offers insurance products.