Farmers National Bancorp (FMNB) released a profit for its first quarter that increased from last year and beat the Street estimates.
The company's earnings totaled $13.578 million, or $0.36 per share. This compares with $11.240 million, or $0.30 per share, last year.
Excluding items, Farmers National Bancorp reported adjusted earnings of $14.6 million or $0.39 per share for the period.
Analysts on average had expected the company to earn $0.34 per share. Analysts' estimates typically exclude special items.
Farmers National Bancorp earnings at a glance (GAAP) :
-Earnings: $13.578 Mln. vs. $11.240 Mln. last year.
-EPS: $0.36 vs. $0.30 last year.
For the first quarter that ended on March 31, the company registered a net interest income of $34.195 million, higher than $31.687 million recorded for the same period last year.
Non-interest income also moved up to $10.481 million from the previous year’s $8.357 million.
Loans stood at $3.251 billion as against $3.181 billion a year ago. Total deposits increased to 4.481 billion from $4.198 billion in 2024.
Kevin J. Helmick, CEO of Farmers National Bancorp, said: “We entered 2025 from a position of strength with a legacy of profitability, strong asset quality and robust liquidity levels. As near-term economic uncertainty has picked up recently, we are well positioned to support our Ohio and Pennsylvania communities, while making strategic investments across our business and adding proven bankers to our team.”
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