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Farmers National Bank named to Crain’s Cleveland Business Fast 50
YOUNGSTOWN
Farmers National Bank received recognition for its growth in the Northeast Ohio region.
Crain’s Cleveland Business named the Canfield-based bank to its “Fast 50” list of successful companies.
“This recognition validates the hard work and customer-first mentality of every Farmers associate,” Farmers President and CEO Kevin Helmick said in a statement.
The weekly business publication, based in Cleveland, collaborated with Apple Growth Partners, an independent accounting and business advisory firm in Akron, to select companies based in Northeast Ohio.
The 50 fastest-growing companies were selected based on an established record of continuous revenue growth from 2009 to 2013.
In 2010, Farmers National Banc Corp., the parent company of Farmers National Bank and Farmers Trust Co., reported a net income of $5.84 million for 2009. In 2014, the corporation reported a profit of $7.8 million for 2013.
A spokesperson for Crain’s said it was the publication’s first year to compile the list. As part of the criteria, companies had to be at least 5 years old and have accrued, at minimum, $5 million in revenue at the end of 2013.
“Our company’s tremendous growth since 2009 is fairly well known locally in the Mahoning Valley, but it is gratifying to have Cleveland’s top business publication take notice,” Hemlick said.
Crain’s will host an award ceremony to name the top 10 companies today at the Western Reserve Historical Society, 10825 East Blvd., Cleveland. The full rankings will be released in Crain’s print edition Monday.
Farmers National Bank is the seventh-largest bank in Youngstown with more than $760 million in deposits.