Farmers National Bank reports healthy 1Q earnings

CANFIELD — Farmers National Banc Corp., the holding company of Farmers National Bank, reported a profit of $2.2 million, or $0.12 per diluted share, in the first quarter of 2015 compared with $2.2 million, or $0.12 per diluted share, for the first quarter 2014.

In comparing the first-quarter’s results to the most recent previous quarter, net income of $2.2 million increased 3 percent compared to $2.1 million for the fourth quarter of 2014.

Kevin J. Helmick, president and CEO, stated: “We are pleased with our improvement in net income for the quarter ended March 31, 2015. The increase in earnings is a result of the growth of our loan portfolio, the continued improvement in our level of noninterest income and stable asset quality. We have also experienced an increase in our net interest margin, mainly as a result of lower funding costs.”

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