Farmers National Banc Corp., is a one-bank holding company organized in 1983
under the laws of the State of Ohio and registered under the Bank Holding Company
Act of 1956, as amended (the “BHCA”). The Company operates principally
through its wholly-owned subsidiaries, The Farmers National Bank of Canfield
(the “Bank” or “Farmers Bank”), Farmers Trust Company
(“Trust” or “Farmers Trust”) and National Associates,
Inc. (“NAI”). Farmers National Insurance, LLC (“Insurance”
or “Farmers Insurance”) and Farmers of Canfield Investment Co. (“Investments
or “Farmers Investments”) are wholly-owned subsidiaries of the Bank.
The Company and its subsidiaries operate in the domestic banking, trust, retirement
consulting, insurance and financial management industries.
The Company’s principal executive offices are located at 20 South Broad
Street, Canfield, Ohio 44406, and its telephone number is (330) 533-3341. Farmers’
common shares, no par value, are listed on the NASDAQ Capital Market (the “NASDAQ”)
under the symbol “FMNB.” Farmers’ business activities are
managed and financial performance is primarily aggregated and reported in three
lines of business, the Bank segment, the Trust segment and the Retirement planning/consulting
segment.
Farmers Trust offers a full complement of personal and corporate trust services
in the areas of estate settlement, trust administration and employee benefit
plans. Farmers Trust operates two offices located in Boardman and Howland, Ohio.
The Company acquired all outstanding stock of National Bancshares Corporation
(“NBOH”), the parent company of First National Bank of Orrville
(“First National Bank”) and Tri-State 1stBanc, Inc. (“Tri-State”),
the parent company of 1st National Community Bank (“FNCB”). The
Bank’s commercial and retail banking services include checking accounts,
savings accounts, time deposit accounts, commercial, mortgage and installment
loans, home equity loans, home equity lines of credit, night depository, safe
deposit boxes, money orders, bank checks, automated teller machines, internet
banking, travel cards, “E” Bond transactions, MasterCard and Visa
credit cards, brokerage services and other miscellaneous services normally offered
by commercial banks.
The Company and its subsidiaries are subject to extensive regulation by federal
and state regulatory agencies. The regulation of bank holding companies and
their subsidiaries is intended primarily for the protection of consumers, depositors,
borrowers, the Deposit Insurance Fund and the banking system as a whole and
not for the protection of shareholders. This intensive regulatory environment,
among other things, may restrict the Company’s ability to diversify into
certain areas of financial services, acquire depository institutions in certain
markets or pay dividends on its common shares. It also may require the Company
to provide financial support to its banking and other subsidiaries, maintain
capital balances in excess of those desired by management and pay higher deposit
insurance premiums as a result of the deterioration in the financial condition
of depository institutions in general.
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