Annual Income Statements for Farmers National Banc
This table shows Farmers National Banc's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Farmers National Banc
This table shows Farmers National Banc's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
15 |
13 |
7.08 |
15 |
13 |
15 |
11 |
12 |
8.54 |
14 |
Consolidated Net Income / (Loss) |
|
15 |
13 |
7.08 |
15 |
13 |
15 |
11 |
12 |
8.54 |
14 |
Net Income / (Loss) Continuing Operations |
|
15 |
13 |
7.08 |
15 |
13 |
15 |
11 |
12 |
8.54 |
14 |
Total Pre-Tax Income |
|
19 |
16 |
7.71 |
18 |
16 |
18 |
13 |
14 |
10 |
18 |
Total Revenue |
|
41 |
38 |
47 |
44 |
44 |
45 |
40 |
42 |
44 |
44 |
Net Interest Income / (Expense) |
|
32 |
29 |
37 |
35 |
34 |
33 |
32 |
32 |
32 |
33 |
Total Interest Income |
|
36 |
38 |
51 |
53 |
54 |
55 |
55 |
57 |
58 |
58 |
Loans and Leases Interest Income |
|
27 |
29 |
41 |
42 |
44 |
45 |
45 |
47 |
47 |
47 |
Investment Securities Interest Income |
|
8.71 |
8.76 |
9.77 |
9.92 |
9.64 |
9.72 |
9.41 |
9.59 |
9.56 |
9.73 |
Federal Funds Sold and Securities Borrowed Interest Income |
|
0.21 |
0.34 |
0.61 |
0.55 |
0.75 |
0.57 |
0.63 |
0.74 |
1.37 |
0.99 |
Total Interest Expense |
|
4.63 |
8.68 |
15 |
18 |
20 |
22 |
23 |
25 |
26 |
25 |
Deposits Interest Expense |
|
3.21 |
6.98 |
13 |
14 |
17 |
18 |
18 |
20 |
22 |
21 |
Short-Term Borrowings Interest Expense |
|
0.53 |
0.78 |
0.92 |
2.73 |
1.96 |
2.75 |
3.94 |
3.58 |
3.48 |
3.11 |
Long-Term Debt Interest Expense |
|
0.89 |
0.92 |
1.00 |
1.01 |
1.04 |
1.04 |
1.04 |
1.04 |
1.02 |
0.99 |
Total Non-Interest Income |
|
8.83 |
8.20 |
10 |
9.45 |
9.83 |
12 |
8.36 |
9.61 |
12 |
11 |
Other Service Charges |
|
1.16 |
-6.21 |
1.48 |
0.70 |
1.28 |
1.72 |
1.24 |
8.66 |
2.45 |
-7.17 |
Net Realized & Unrealized Capital Gains on Investments |
|
0.31 |
-0.12 |
0.43 |
0.42 |
0.40 |
0.68 |
-1.82 |
0.29 |
0.51 |
2.53 |
Other Non-Interest Income |
|
7.36 |
15 |
8.51 |
8.33 |
8.16 |
9.76 |
8.94 |
0.65 |
9.38 |
16 |
Provision for Credit Losses |
|
0.45 |
0.42 |
8.60 |
0.03 |
0.24 |
0.29 |
-0.45 |
1.11 |
7.01 |
0.30 |
Total Non-Interest Expense |
|
21 |
21 |
31 |
26 |
28 |
27 |
27 |
26 |
27 |
26 |
Salaries and Employee Benefits |
|
11 |
11 |
15 |
14 |
14 |
15 |
15 |
15 |
15 |
14 |
Net Occupancy & Equipment Expense |
|
3.03 |
2.75 |
3.87 |
3.86 |
3.81 |
3.90 |
3.73 |
3.82 |
3.97 |
4.08 |
Marketing Expense |
|
0.60 |
0.47 |
0.41 |
0.48 |
0.49 |
0.41 |
0.43 |
0.45 |
0.44 |
0.19 |
Property & Liability Insurance Claims |
|
1.02 |
1.01 |
1.22 |
1.49 |
1.65 |
1.48 |
1.35 |
1.19 |
1.48 |
1.02 |
Other Operating Expenses |
|
4.73 |
4.19 |
5.36 |
5.27 |
6.54 |
5.28 |
5.78 |
5.77 |
5.69 |
5.46 |
Amortization Expense |
|
0.43 |
0.70 |
0.91 |
1.22 |
0.73 |
0.58 |
0.69 |
0.63 |
0.63 |
0.91 |
Restructuring Charge |
|
0.87 |
0.58 |
4.31 |
0.44 |
0.27 |
0.45 |
0.00 |
0.00 |
0.00 |
0.09 |
Income Tax Expense |
|
3.32 |
2.77 |
0.64 |
2.65 |
2.33 |
3.15 |
2.21 |
2.37 |
1.60 |
3.29 |
Basic Earnings per Share |
|
$0.46 |
$0.39 |
$0.19 |
$0.40 |
$0.36 |
$0.39 |
$0.30 |
$0.32 |
$0.23 |
$0.38 |
Weighted Average Basic Shares Outstanding |
|
34.06M |
37.94M |
37.46M |
37.49M |
37.49M |
37.55M |
37.55M |
37.58M |
37.59M |
37.61M |
Diluted Earnings per Share |
|
$0.46 |
$0.39 |
$0.19 |
$0.40 |
$0.36 |
$0.38 |
$0.30 |
$0.31 |
$0.23 |
$0.38 |
Weighted Average Diluted Shares Outstanding |
|
34.06M |
37.94M |
37.46M |
37.49M |
37.49M |
37.55M |
37.55M |
37.58M |
37.59M |
37.61M |
Weighted Average Basic & Diluted Shares Outstanding |
|
34.06M |
37.94M |
37.46M |
37.49M |
37.49M |
37.55M |
37.55M |
37.58M |
37.59M |
37.61M |
Annual Cash Flow Statements for Farmers National Banc
This table details how cash moves in and out of Farmers National Banc's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-37 |
28 |
-18 |
Net Cash From Operating Activities |
82 |
63 |
67 |
Net Cash From Continuing Operating Activities |
82 |
63 |
67 |
Net Income / (Loss) Continuing Operations |
61 |
50 |
46 |
Consolidated Net Income / (Loss) |
61 |
50 |
46 |
Provision For Loan Losses |
1.12 |
9.15 |
7.97 |
Depreciation Expense |
4.90 |
7.33 |
6.40 |
Amortization Expense |
4.82 |
0.93 |
0.55 |
Non-Cash Adjustments to Reconcile Net Income |
2.19 |
-1.17 |
1.38 |
Changes in Operating Assets and Liabilities, net |
7.88 |
-3.24 |
4.37 |
Net Cash From Investing Activities |
-206 |
78 |
-95 |
Net Cash From Continuing Investing Activities |
-206 |
78 |
-95 |
Purchase of Property, Leasehold Improvements and Equipment |
-2.56 |
-3.88 |
-12 |
Purchase of Investment Securities |
-326 |
-108 |
-208 |
Sale of Property, Leasehold Improvements and Equipment |
0.00 |
6.79 |
1.59 |
Sale and/or Maturity of Investments |
124 |
183 |
123 |
Net Cash From Financing Activities |
87 |
-113 |
11 |
Net Cash From Continuing Financing Activities |
87 |
-113 |
11 |
Net Change in Deposits |
15 |
-260 |
89 |
Issuance of Debt |
95 |
185 |
-50 |
Repayment of Debt |
0.00 |
0.00 |
-2.54 |
Repurchase of Common Equity |
0.00 |
-12 |
0.00 |
Payment of Dividends |
-22 |
-25 |
-25 |
Other Financing Activities, Net |
-0.76 |
-0.62 |
-0.88 |
Cash Interest Paid |
16 |
79 |
101 |
Cash Income Taxes Paid |
0.00 |
0.00 |
0.00 |
Quarterly Cash Flow Statements for Farmers National Banc
This table details how cash moves in and out of Farmers National Banc's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
15 |
-4.43 |
52 |
-12 |
-22 |
9.74 |
45 |
32 |
8.15 |
-103 |
Net Cash From Operating Activities |
|
19 |
22 |
14 |
17 |
18 |
14 |
13 |
16 |
24 |
13 |
Net Cash From Continuing Operating Activities |
|
19 |
22 |
14 |
17 |
18 |
14 |
13 |
16 |
24 |
13 |
Net Income / (Loss) Continuing Operations |
|
15 |
13 |
7.08 |
15 |
13 |
15 |
11 |
12 |
8.54 |
14 |
Consolidated Net Income / (Loss) |
|
15 |
13 |
7.08 |
15 |
13 |
15 |
11 |
12 |
8.54 |
14 |
Provision For Loan Losses |
|
0.45 |
0.42 |
8.60 |
0.03 |
0.24 |
0.29 |
-0.45 |
1.11 |
7.01 |
0.30 |
Depreciation Expense |
|
1.13 |
1.42 |
1.90 |
2.20 |
1.68 |
1.55 |
1.61 |
1.49 |
1.50 |
1.80 |
Amortization Expense |
|
1.14 |
0.97 |
0.27 |
0.18 |
0.24 |
0.24 |
0.24 |
0.09 |
0.12 |
0.10 |
Non-Cash Adjustments to Reconcile Net Income |
|
0.65 |
-0.28 |
0.71 |
0.89 |
-1.82 |
-0.94 |
2.34 |
-0.63 |
0.06 |
-0.39 |
Changes in Operating Assets and Liabilities, net |
|
0.13 |
6.44 |
-4.68 |
-1.70 |
4.37 |
-1.23 |
-1.82 |
2.63 |
6.51 |
-2.95 |
Net Cash From Investing Activities |
|
-46 |
45 |
64 |
7.24 |
25 |
-19 |
27 |
-46 |
-42 |
-34 |
Net Cash From Continuing Investing Activities |
|
-46 |
45 |
64 |
7.24 |
25 |
-19 |
27 |
-46 |
-42 |
-34 |
Purchase of Property, Leasehold Improvements and Equipment |
|
0.06 |
-0.75 |
-0.17 |
-0.61 |
-1.20 |
-1.90 |
-1.55 |
-2.23 |
-3.47 |
-4.45 |
Purchase of Investment Securities |
|
-67 |
-6.76 |
-31 |
-11 |
-17 |
-49 |
-32 |
-62 |
-64 |
-50 |
Sale and/or Maturity of Investments |
|
22 |
53 |
96 |
19 |
43 |
26 |
60 |
19 |
24 |
20 |
Net Cash From Financing Activities |
|
41 |
-72 |
-25 |
-36 |
-65 |
14 |
4.40 |
62 |
26 |
-82 |
Net Cash From Continuing Financing Activities |
|
41 |
-72 |
-25 |
-36 |
-65 |
14 |
4.40 |
62 |
26 |
-82 |
Net Change in Deposits |
|
-58 |
-5.38 |
-41 |
-125 |
241 |
-334 |
21 |
7.71 |
156 |
-95 |
Issuance of Debt |
|
105 |
-60 |
34 |
96 |
-300 |
355 |
-10 |
61 |
-121 |
20 |
Payment of Dividends |
|
-5.42 |
-5.76 |
-6.40 |
-6.33 |
-6.33 |
-6.33 |
-6.34 |
-6.35 |
-6.35 |
-6.35 |
Cash Interest Paid |
|
4.00 |
7.66 |
16 |
18 |
23 |
21 |
27 |
28 |
30 |
16 |
Annual Balance Sheets for Farmers National Banc
This table presents Farmers National Banc's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
4,082 |
5,078 |
5,119 |
Cash and Due from Banks |
76 |
104 |
86 |
Trading Account Securities |
1,269 |
1,303 |
1,272 |
Loans and Leases, Net of Allowance |
2,378 |
-34 |
-36 |
Allowance for Loan and Lease Losses |
27 |
34 |
36 |
Premises and Equipment, Net |
31 |
44 |
52 |
Goodwill |
95 |
167 |
167 |
Intangible Assets |
7.03 |
23 |
21 |
Other Assets |
228 |
3,471 |
3,512 |
Total Liabilities & Shareholders' Equity |
4,082 |
5,078 |
5,119 |
Total Liabilities |
3,790 |
4,674 |
4,713 |
Non-Interest Bearing Deposits |
897 |
1,027 |
966 |
Interest Bearing Deposits |
2,665 |
3,151 |
3,301 |
Short-Term Debt |
95 |
355 |
305 |
Long-Term Debt |
88 |
89 |
86 |
Other Long-Term Liabilities |
45 |
53 |
55 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
292 |
404 |
406 |
Total Preferred & Common Equity |
292 |
404 |
406 |
Total Common Equity |
292 |
404 |
406 |
Common Stock |
305 |
365 |
366 |
Retained Earnings |
212 |
237 |
257 |
Treasury Stock |
-15 |
-25 |
-24 |
Accumulated Other Comprehensive Income / (Loss) |
-210 |
-173 |
-193 |
Quarterly Balance Sheets for Farmers National Banc
This table presents Farmers National Banc's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
4,120 |
5,110 |
5,073 |
4,971 |
5,080 |
5,157 |
5,237 |
Cash and Due from Banks |
|
80 |
128 |
116 |
94 |
149 |
181 |
189 |
Trading Account Securities |
|
1,297 |
1,357 |
1,319 |
1,213 |
1,272 |
1,249 |
1,296 |
Loans and Leases, Net of Allowance |
|
2,373 |
3,116 |
3,120 |
3,134 |
3,148 |
-34 |
-36 |
Allowance for Loan and Lease Losses |
|
27 |
36 |
35 |
35 |
33 |
34 |
36 |
Premises and Equipment, Net |
|
39 |
54 |
54 |
45 |
45 |
45 |
48 |
Goodwill |
|
95 |
168 |
168 |
168 |
167 |
167 |
167 |
Intangible Assets |
|
7.73 |
25 |
24 |
23 |
22 |
22 |
21 |
Other Assets |
|
194 |
261 |
227 |
295 |
242 |
3,526 |
3,551 |
Total Liabilities & Shareholders' Equity |
|
4,120 |
5,110 |
5,073 |
4,971 |
5,080 |
5,157 |
5,237 |
Total Liabilities |
|
3,854 |
4,735 |
4,706 |
4,655 |
4,683 |
4,760 |
4,797 |
Non-Interest Bearing Deposits |
|
935 |
1,107 |
1,084 |
1,040 |
977 |
969 |
970 |
Interest Bearing Deposits |
|
2,633 |
3,289 |
3,187 |
3,472 |
3,221 |
3,237 |
3,392 |
Short-Term Debt |
|
155 |
204 |
300 |
0.00 |
345 |
406 |
285 |
Long-Term Debt |
|
88 |
88 |
88 |
89 |
89 |
89 |
86 |
Other Long-Term Liabilities |
|
44 |
47 |
47 |
55 |
51 |
59 |
64 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
266 |
375 |
367 |
316 |
397 |
397 |
440 |
Total Preferred & Common Equity |
|
266 |
375 |
367 |
316 |
397 |
397 |
440 |
Total Common Equity |
|
266 |
375 |
367 |
316 |
397 |
397 |
440 |
Common Stock |
|
305 |
364 |
365 |
365 |
365 |
365 |
366 |
Retained Earnings |
|
205 |
213 |
222 |
229 |
242 |
247 |
249 |
Treasury Stock |
|
-15 |
-26 |
-26 |
-25 |
-24 |
-24 |
-24 |
Accumulated Other Comprehensive Income / (Loss) |
|
-229 |
-177 |
-194 |
-252 |
-185 |
-191 |
-151 |
Annual Metrics And Ratios for Farmers National Banc
This table displays calculated financial ratios and metrics derived from Farmers National Banc's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
15.18% |
6.70% |
-5.32% |
EBITDA Growth |
19.28% |
-18.90% |
-6.82% |
EBIT Growth |
17.26% |
-19.41% |
-5.57% |
NOPAT Growth |
16.88% |
-17.60% |
-7.98% |
Net Income Growth |
16.88% |
-17.60% |
-7.98% |
EPS Growth |
1.13% |
-25.70% |
-8.27% |
Operating Cash Flow Growth |
48.36% |
-22.79% |
5.86% |
Free Cash Flow Firm Growth |
283.11% |
-322.08% |
130.02% |
Invested Capital Growth |
-15.12% |
78.35% |
-6.00% |
Revenue Q/Q Growth |
-0.94% |
4.27% |
-0.49% |
EBITDA Q/Q Growth |
13.70% |
1.51% |
0.11% |
EBIT Q/Q Growth |
15.84% |
2.81% |
-0.08% |
NOPAT Q/Q Growth |
14.46% |
2.51% |
-0.40% |
Net Income Q/Q Growth |
14.46% |
2.51% |
-0.40% |
EPS Q/Q Growth |
15.48% |
-0.75% |
0.00% |
Operating Cash Flow Q/Q Growth |
9.91% |
-10.12% |
-0.91% |
Free Cash Flow Firm Q/Q Growth |
607.96% |
-311.02% |
126.90% |
Invested Capital Q/Q Growth |
-6.53% |
109.64% |
-1.67% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
49.03% |
37.27% |
36.68% |
EBIT Margin |
43.26% |
32.67% |
32.59% |
Profit (Net Income) Margin |
35.99% |
27.79% |
27.02% |
Tax Burden Percent |
83.20% |
85.07% |
82.90% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
16.80% |
14.93% |
17.10% |
Return on Invested Capital (ROIC) |
11.70% |
7.55% |
5.59% |
ROIC Less NNEP Spread (ROIC-NNEP) |
11.70% |
7.55% |
5.59% |
Return on Net Nonoperating Assets (RNNOA) |
4.15% |
6.79% |
5.75% |
Return on Equity (ROE) |
15.85% |
14.33% |
11.34% |
Cash Return on Invested Capital (CROIC) |
28.05% |
-48.75% |
11.77% |
Operating Return on Assets (OROA) |
1.77% |
1.28% |
1.09% |
Return on Assets (ROA) |
1.47% |
1.09% |
0.90% |
Return on Common Equity (ROCE) |
15.85% |
14.33% |
11.34% |
Return on Equity Simple (ROE_SIMPLE) |
20.73% |
12.35% |
11.32% |
Net Operating Profit after Tax (NOPAT) |
61 |
50 |
46 |
NOPAT Margin |
35.99% |
27.79% |
27.02% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
34.65% |
41.53% |
44.69% |
Operating Expenses to Revenue |
56.07% |
62.23% |
62.73% |
Earnings before Interest and Taxes (EBIT) |
73 |
59 |
55 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
83 |
67 |
62 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.49 |
1.28 |
1.32 |
Price to Tangible Book Value (P/TBV) |
2.28 |
2.41 |
2.45 |
Price to Revenue (P/Rev) |
2.58 |
2.87 |
3.14 |
Price to Earnings (P/E) |
7.17 |
10.33 |
11.63 |
Dividend Yield |
5.10% |
4.94% |
4.78% |
Earnings Yield |
13.95% |
9.68% |
8.60% |
Enterprise Value to Invested Capital (EV/IC) |
1.14 |
1.01 |
1.05 |
Enterprise Value to Revenue (EV/Rev) |
3.22 |
4.76 |
4.94 |
Enterprise Value to EBITDA (EV/EBITDA) |
6.57 |
12.78 |
13.46 |
Enterprise Value to EBIT (EV/EBIT) |
7.44 |
14.58 |
15.15 |
Enterprise Value to NOPAT (EV/NOPAT) |
8.95 |
17.14 |
18.28 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
6.65 |
13.60 |
12.61 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
3.73 |
0.00 |
8.67 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.63 |
1.10 |
0.96 |
Long-Term Debt to Equity |
0.30 |
0.22 |
0.21 |
Financial Leverage |
0.35 |
0.90 |
1.03 |
Leverage Ratio |
10.76 |
13.15 |
12.58 |
Compound Leverage Factor |
10.76 |
13.15 |
12.58 |
Debt to Total Capital |
38.53% |
52.31% |
49.07% |
Short-Term Debt to Total Capital |
19.98% |
41.86% |
38.26% |
Long-Term Debt to Total Capital |
18.55% |
10.45% |
10.81% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
61.47% |
47.69% |
50.93% |
Debt to EBITDA |
2.22 |
6.63 |
6.27 |
Net Debt to EBITDA |
1.30 |
5.08 |
4.90 |
Long-Term Debt to EBITDA |
1.07 |
1.32 |
1.38 |
Debt to NOPAT |
3.02 |
8.89 |
8.51 |
Net Debt to NOPAT |
1.78 |
6.81 |
6.65 |
Long-Term Debt to NOPAT |
1.46 |
1.78 |
1.87 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
145 |
-323 |
97 |
Operating Cash Flow to CapEx |
3,184.88% |
0.00% |
659.69% |
Free Cash Flow to Firm to Interest Expense |
8.11 |
-4.27 |
0.97 |
Operating Cash Flow to Interest Expense |
4.55 |
0.83 |
0.67 |
Operating Cash Flow Less CapEx to Interest Expense |
4.41 |
0.87 |
0.57 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.04 |
0.04 |
0.03 |
Fixed Asset Turnover |
4.93 |
4.78 |
3.52 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
476 |
848 |
797 |
Invested Capital Turnover |
0.33 |
0.27 |
0.21 |
Increase / (Decrease) in Invested Capital |
-85 |
373 |
-51 |
Enterprise Value (EV) |
542 |
856 |
840 |
Market Capitalization |
434 |
516 |
534 |
Book Value per Share |
$8.58 |
$10.79 |
$10.80 |
Tangible Book Value per Share |
$5.60 |
$5.71 |
$5.80 |
Total Capital |
476 |
848 |
797 |
Total Debt |
183 |
444 |
391 |
Total Long-Term Debt |
88 |
89 |
86 |
Net Debt |
108 |
340 |
305 |
Capital Expenditures (CapEx) |
2.56 |
-2.91 |
10 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
183 |
444 |
391 |
Total Depreciation and Amortization (D&A) |
9.72 |
8.25 |
6.96 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$1.79 |
$1.34 |
$1.23 |
Adjusted Weighted Average Basic Shares Outstanding |
37.94M |
37.55M |
37.61M |
Adjusted Diluted Earnings per Share |
$1.79 |
$1.33 |
$1.22 |
Adjusted Weighted Average Diluted Shares Outstanding |
37.94M |
37.55M |
37.61M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
37.94M |
37.55M |
37.61M |
Normalized Net Operating Profit after Tax (NOPAT) |
64 |
55 |
46 |
Normalized NOPAT Margin |
38.00% |
30.39% |
27.06% |
Pre Tax Income Margin |
43.26% |
32.67% |
32.59% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
4.06 |
0.78 |
0.56 |
NOPAT to Interest Expense |
3.38 |
0.66 |
0.46 |
EBIT Less CapEx to Interest Expense |
3.92 |
0.82 |
0.46 |
NOPAT Less CapEx to Interest Expense |
3.24 |
0.70 |
0.36 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
36.31% |
50.86% |
55.25% |
Augmented Payout Ratio |
36.31% |
73.98% |
55.25% |
Quarterly Metrics And Ratios for Farmers National Banc
This table displays calculated financial ratios and metrics derived from Farmers National Banc's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
14.23% |
-4.09% |
-3.89% |
6.89% |
7.37% |
19.54% |
-14.86% |
-5.35% |
1.42% |
-1.85% |
EBITDA Growth |
|
-0.29% |
116.03% |
-53.79% |
-7.49% |
-16.52% |
5.37% |
54.91% |
-21.31% |
-33.04% |
0.36% |
EBIT Growth |
|
-3.14% |
161.70% |
-59.06% |
-7.82% |
-16.64% |
9.97% |
74.41% |
-19.64% |
-35.21% |
-0.25% |
NOPAT Growth |
|
-3.53% |
134.23% |
-55.35% |
-6.18% |
-13.80% |
9.14% |
58.87% |
-21.27% |
-35.89% |
-1.28% |
Net Income Growth |
|
-3.53% |
134.23% |
-55.35% |
-6.18% |
-13.80% |
9.14% |
58.87% |
-21.27% |
-35.89% |
-1.28% |
EPS Growth |
|
-17.86% |
160.00% |
-59.57% |
-14.89% |
-21.74% |
-2.56% |
57.89% |
-22.50% |
-36.11% |
0.00% |
Operating Cash Flow Growth |
|
14.74% |
49.07% |
5.06% |
-38.72% |
-4.89% |
-35.15% |
-5.08% |
-0.53% |
31.71% |
-8.54% |
Free Cash Flow Firm Growth |
|
-729.74% |
178.13% |
-358.21% |
-15,764.88% |
277.76% |
-465.15% |
14.34% |
55.74% |
-438.43% |
118.24% |
Invested Capital Growth |
|
19.09% |
-15.12% |
38.44% |
64.43% |
-20.48% |
78.35% |
24.56% |
18.02% |
100.41% |
-6.00% |
Revenue Q/Q Growth |
|
-1.41% |
-7.33% |
24.99% |
-6.40% |
-0.97% |
3.18% |
-10.99% |
4.07% |
6.10% |
-0.14% |
EBITDA Q/Q Growth |
|
-2.72% |
-11.97% |
-46.64% |
102.44% |
-12.21% |
11.12% |
-21.56% |
2.84% |
-25.30% |
66.55% |
EBIT Q/Q Growth |
|
-1.83% |
-14.07% |
-52.15% |
128.36% |
-11.22% |
13.35% |
-24.11% |
5.23% |
-28.42% |
74.51% |
NOPAT Q/Q Growth |
|
-3.17% |
-13.53% |
-47.03% |
111.53% |
-11.04% |
9.49% |
-22.89% |
4.83% |
-27.57% |
68.61% |
Net Income Q/Q Growth |
|
-3.17% |
-13.53% |
-47.03% |
111.53% |
-11.04% |
9.49% |
-22.89% |
4.83% |
-27.57% |
68.61% |
EPS Q/Q Growth |
|
-2.13% |
-15.22% |
-51.28% |
110.53% |
-10.00% |
5.56% |
-21.05% |
3.33% |
-25.81% |
65.22% |
Operating Cash Flow Q/Q Growth |
|
-29.93% |
17.84% |
-35.69% |
19.46% |
8.76% |
-19.64% |
-5.00% |
25.19% |
44.01% |
-44.20% |
Free Cash Flow Firm Q/Q Growth |
|
-3,784.39% |
248.33% |
-281.69% |
-57.76% |
141.81% |
-404.68% |
57.37% |
18.50% |
-219.72% |
116.42% |
Invested Capital Q/Q Growth |
|
10.73% |
-6.53% |
40.26% |
13.26% |
-46.45% |
109.64% |
-2.04% |
7.32% |
-9.07% |
-1.67% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
51.80% |
49.20% |
21.01% |
45.43% |
40.27% |
43.37% |
38.22% |
37.77% |
26.59% |
44.35% |
EBIT Margin |
|
46.20% |
42.84% |
16.40% |
40.01% |
35.87% |
39.41% |
33.60% |
33.97% |
22.92% |
40.05% |
Profit (Net Income) Margin |
|
38.04% |
35.49% |
15.04% |
33.99% |
30.54% |
32.40% |
28.07% |
28.28% |
19.30% |
32.59% |
Tax Burden Percent |
|
82.33% |
82.85% |
91.72% |
84.96% |
85.13% |
82.23% |
83.54% |
83.23% |
84.23% |
81.38% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
17.67% |
17.15% |
8.28% |
15.04% |
14.87% |
17.77% |
16.46% |
16.77% |
15.77% |
18.62% |
Return on Invested Capital (ROIC) |
|
13.82% |
11.54% |
4.36% |
9.47% |
11.52% |
8.80% |
6.47% |
5.85% |
5.43% |
6.74% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
13.82% |
11.54% |
4.36% |
9.47% |
11.52% |
8.80% |
6.47% |
5.85% |
5.43% |
6.74% |
Return on Net Nonoperating Assets (RNNOA) |
|
6.29% |
4.09% |
2.16% |
7.24% |
6.57% |
7.91% |
6.09% |
6.76% |
3.30% |
6.94% |
Return on Equity (ROE) |
|
20.11% |
15.63% |
6.52% |
16.72% |
18.09% |
16.71% |
12.56% |
12.61% |
8.73% |
13.68% |
Cash Return on Invested Capital (CROIC) |
|
-6.11% |
28.05% |
-23.22% |
-40.36% |
33.48% |
-48.75% |
-14.65% |
-10.35% |
-59.26% |
11.77% |
Operating Return on Assets (OROA) |
|
2.11% |
1.75% |
0.59% |
1.47% |
1.36% |
1.55% |
1.14% |
1.13% |
0.77% |
1.34% |
Return on Assets (ROA) |
|
1.74% |
1.45% |
0.54% |
1.25% |
1.16% |
1.27% |
0.95% |
0.94% |
0.65% |
1.09% |
Return on Common Equity (ROCE) |
|
20.11% |
15.63% |
6.52% |
16.72% |
18.09% |
16.71% |
12.56% |
12.61% |
8.73% |
13.68% |
Return on Equity Simple (ROE_SIMPLE) |
|
19.93% |
0.00% |
13.83% |
13.85% |
15.42% |
0.00% |
13.63% |
12.83% |
10.49% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
15 |
13 |
7.08 |
15 |
13 |
15 |
11 |
12 |
8.54 |
14 |
NOPAT Margin |
|
38.04% |
35.49% |
15.04% |
33.99% |
30.54% |
32.40% |
28.07% |
28.28% |
19.30% |
32.59% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
35.33% |
38.82% |
40.23% |
40.80% |
42.51% |
42.64% |
48.02% |
45.16% |
43.60% |
42.33% |
Operating Expenses to Revenue |
|
52.70% |
56.06% |
65.32% |
59.93% |
63.57% |
59.96% |
67.52% |
63.36% |
61.23% |
59.28% |
Earnings before Interest and Taxes (EBIT) |
|
19 |
16 |
7.71 |
18 |
16 |
18 |
13 |
14 |
10 |
18 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
21 |
19 |
9.88 |
20 |
18 |
20 |
15 |
16 |
12 |
20 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.53 |
1.49 |
1.20 |
1.20 |
1.30 |
1.28 |
1.25 |
1.18 |
1.29 |
1.32 |
Price to Tangible Book Value (P/TBV) |
|
2.50 |
2.28 |
2.47 |
2.51 |
3.30 |
2.41 |
2.38 |
2.26 |
2.26 |
2.45 |
Price to Revenue (P/Rev) |
|
2.40 |
2.58 |
2.70 |
2.59 |
2.39 |
2.87 |
2.86 |
2.75 |
3.32 |
3.14 |
Price to Earnings (P/E) |
|
7.69 |
7.17 |
8.66 |
8.64 |
8.45 |
10.33 |
9.14 |
9.21 |
12.32 |
11.63 |
Dividend Yield |
|
5.18% |
5.10% |
5.58% |
5.71% |
6.19% |
4.94% |
5.16% |
5.44% |
4.50% |
4.78% |
Earnings Yield |
|
13.00% |
13.95% |
11.55% |
11.58% |
11.83% |
9.68% |
10.94% |
10.86% |
8.12% |
8.60% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.12 |
1.14 |
0.92 |
0.94 |
1.00 |
1.01 |
0.94 |
0.88 |
0.93 |
1.05 |
Enterprise Value to Revenue (EV/Rev) |
|
3.36 |
3.22 |
3.68 |
4.20 |
2.36 |
4.76 |
4.52 |
4.60 |
4.39 |
4.94 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
7.86 |
6.57 |
8.63 |
10.25 |
6.16 |
12.78 |
10.77 |
11.49 |
12.04 |
13.46 |
Enterprise Value to EBIT (EV/EBIT) |
|
9.07 |
7.44 |
9.93 |
11.82 |
7.12 |
14.58 |
12.10 |
12.84 |
13.52 |
15.15 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
10.78 |
8.95 |
11.83 |
14.00 |
8.34 |
17.14 |
14.41 |
15.38 |
16.26 |
18.28 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
7.69 |
6.65 |
7.53 |
10.03 |
5.81 |
13.60 |
12.66 |
12.73 |
11.16 |
12.61 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
3.73 |
0.00 |
0.00 |
2.66 |
0.00 |
0.00 |
0.00 |
0.00 |
8.67 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.92 |
0.63 |
0.78 |
1.06 |
0.28 |
1.10 |
1.09 |
1.25 |
0.84 |
0.96 |
Long-Term Debt to Equity |
|
0.33 |
0.30 |
0.24 |
0.24 |
0.28 |
0.22 |
0.22 |
0.22 |
0.20 |
0.21 |
Financial Leverage |
|
0.46 |
0.35 |
0.49 |
0.76 |
0.57 |
0.90 |
0.94 |
1.16 |
0.61 |
1.03 |
Leverage Ratio |
|
11.56 |
10.76 |
12.12 |
13.35 |
15.63 |
13.15 |
13.21 |
13.40 |
13.51 |
12.58 |
Compound Leverage Factor |
|
11.56 |
10.76 |
12.12 |
13.35 |
15.63 |
13.15 |
13.21 |
13.40 |
13.51 |
12.58 |
Debt to Total Capital |
|
47.79% |
38.53% |
43.83% |
51.42% |
21.89% |
52.31% |
52.21% |
55.51% |
45.77% |
49.07% |
Short-Term Debt to Total Capital |
|
30.47% |
19.98% |
30.59% |
39.71% |
0.00% |
41.86% |
41.53% |
45.54% |
35.15% |
38.26% |
Long-Term Debt to Total Capital |
|
17.32% |
18.55% |
13.24% |
11.71% |
21.89% |
10.45% |
10.69% |
9.97% |
10.61% |
10.81% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
52.21% |
61.47% |
56.17% |
48.58% |
78.11% |
47.69% |
47.79% |
44.49% |
54.23% |
50.93% |
Debt to EBITDA |
|
3.35 |
2.22 |
4.11 |
5.59 |
1.34 |
6.63 |
5.99 |
7.27 |
5.95 |
6.27 |
Net Debt to EBITDA |
|
2.25 |
1.30 |
2.31 |
3.92 |
-0.08 |
5.08 |
3.94 |
4.61 |
2.92 |
4.90 |
Long-Term Debt to EBITDA |
|
1.21 |
1.07 |
1.24 |
1.27 |
1.34 |
1.32 |
1.23 |
1.31 |
1.38 |
1.38 |
Debt to NOPAT |
|
4.59 |
3.02 |
5.64 |
7.64 |
1.82 |
8.89 |
8.02 |
9.72 |
8.04 |
8.51 |
Net Debt to NOPAT |
|
3.08 |
1.78 |
3.17 |
5.36 |
-0.11 |
6.81 |
5.27 |
6.17 |
3.94 |
6.65 |
Long-Term Debt to NOPAT |
|
1.66 |
1.46 |
1.70 |
1.74 |
1.82 |
1.78 |
1.64 |
1.75 |
1.86 |
1.87 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-66 |
98 |
-178 |
-281 |
117 |
-358 |
-153 |
-124 |
-398 |
65 |
Operating Cash Flow to CapEx |
|
0.00% |
2,984.49% |
8,109.36% |
2,724.67% |
1,503.92% |
0.00% |
0.00% |
740.63% |
684.48% |
297.77% |
Free Cash Flow to Firm to Interest Expense |
|
-14.28 |
11.30 |
-12.18 |
-15.42 |
5.74 |
-16.10 |
-6.53 |
-5.02 |
-15.27 |
2.59 |
Operating Cash Flow to Interest Expense |
|
4.09 |
2.57 |
0.95 |
0.91 |
0.88 |
0.65 |
0.56 |
0.67 |
0.91 |
0.53 |
Operating Cash Flow Less CapEx to Interest Expense |
|
4.11 |
2.49 |
0.94 |
0.88 |
0.82 |
0.87 |
0.57 |
0.58 |
0.78 |
0.35 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.05 |
0.04 |
0.04 |
0.04 |
0.04 |
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
Fixed Asset Turnover |
|
5.30 |
4.93 |
3.64 |
3.73 |
4.09 |
4.78 |
3.47 |
3.44 |
3.68 |
3.52 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
509 |
476 |
667 |
755 |
405 |
848 |
831 |
892 |
811 |
797 |
Invested Capital Turnover |
|
0.36 |
0.33 |
0.29 |
0.28 |
0.38 |
0.27 |
0.23 |
0.21 |
0.28 |
0.21 |
Increase / (Decrease) in Invested Capital |
|
82 |
-85 |
185 |
296 |
-104 |
373 |
164 |
136 |
406 |
-51 |
Enterprise Value (EV) |
|
570 |
542 |
613 |
712 |
406 |
856 |
780 |
783 |
750 |
840 |
Market Capitalization |
|
407 |
434 |
449 |
439 |
412 |
516 |
495 |
469 |
568 |
534 |
Book Value per Share |
|
$7.80 |
$8.58 |
$9.87 |
$9.80 |
$8.43 |
$10.79 |
$10.57 |
$10.56 |
$11.70 |
$10.80 |
Tangible Book Value per Share |
|
$4.79 |
$5.60 |
$4.78 |
$4.67 |
$3.33 |
$5.71 |
$5.52 |
$5.53 |
$6.69 |
$5.80 |
Total Capital |
|
509 |
476 |
667 |
755 |
405 |
848 |
831 |
892 |
811 |
797 |
Total Debt |
|
243 |
183 |
292 |
388 |
89 |
444 |
434 |
495 |
371 |
391 |
Total Long-Term Debt |
|
88 |
88 |
88 |
88 |
89 |
89 |
89 |
89 |
86 |
86 |
Net Debt |
|
163 |
108 |
164 |
272 |
-5.37 |
340 |
285 |
314 |
182 |
305 |
Capital Expenditures (CapEx) |
|
-0.06 |
0.75 |
0.17 |
0.61 |
1.20 |
-4.88 |
-0.04 |
2.23 |
3.47 |
4.45 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
243 |
183 |
292 |
388 |
89 |
444 |
434 |
495 |
371 |
391 |
Total Depreciation and Amortization (D&A) |
|
2.27 |
2.40 |
2.17 |
2.39 |
1.92 |
1.78 |
1.85 |
1.58 |
1.62 |
1.90 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.46 |
$0.39 |
$0.19 |
$0.40 |
$0.36 |
$0.39 |
$0.30 |
$0.32 |
$0.23 |
$0.38 |
Adjusted Weighted Average Basic Shares Outstanding |
|
34.06M |
37.94M |
37.46M |
37.49M |
37.49M |
37.55M |
37.55M |
37.58M |
37.59M |
37.61M |
Adjusted Diluted Earnings per Share |
|
$0.46 |
$0.39 |
$0.19 |
$0.40 |
$0.36 |
$0.38 |
$0.30 |
$0.31 |
$0.23 |
$0.38 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
34.06M |
37.94M |
37.46M |
37.49M |
37.49M |
37.55M |
37.55M |
37.58M |
37.59M |
37.61M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
34.06M |
37.94M |
37.46M |
37.49M |
37.49M |
37.55M |
37.55M |
37.58M |
37.59M |
37.61M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
16 |
14 |
11 |
15 |
14 |
15 |
11 |
12 |
8.54 |
14 |
Normalized NOPAT Margin |
|
39.80% |
36.78% |
23.45% |
34.85% |
31.06% |
33.23% |
28.07% |
28.28% |
19.30% |
32.76% |
Pre Tax Income Margin |
|
46.20% |
42.84% |
16.40% |
40.01% |
35.87% |
39.41% |
33.60% |
33.97% |
22.92% |
40.05% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
4.05 |
1.86 |
0.53 |
0.97 |
0.76 |
0.80 |
0.58 |
0.57 |
0.39 |
0.70 |
NOPAT to Interest Expense |
|
3.34 |
1.54 |
0.48 |
0.82 |
0.65 |
0.66 |
0.48 |
0.48 |
0.33 |
0.57 |
EBIT Less CapEx to Interest Expense |
|
4.07 |
1.77 |
0.52 |
0.93 |
0.71 |
1.02 |
0.58 |
0.48 |
0.26 |
0.53 |
NOPAT Less CapEx to Interest Expense |
|
3.35 |
1.45 |
0.47 |
0.79 |
0.59 |
0.88 |
0.48 |
0.39 |
0.19 |
0.40 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
39.63% |
36.31% |
44.36% |
47.02% |
50.95% |
50.86% |
46.83% |
49.79% |
54.99% |
55.25% |
Augmented Payout Ratio |
|
39.72% |
36.31% |
66.64% |
69.72% |
74.65% |
73.98% |
46.83% |
49.79% |
54.99% |
55.25% |
Key Financial Trends
Farmers National Banc (NASDAQ: FMNB) has demonstrated a consistent revenue and earnings growth trend over the past several quarters, reflecting healthy banking operations and careful expense management.
Key positive trends include:
- Net interest income increased steadily from $29.4 million in Q4 2022 to $32.7 million in Q4 2024, showing robust core earnings growth.
- Net income attributable to common shareholders grew from $13.4 million in Q4 2022 to $14.4 million in Q4 2024, representing steady profitability improvements.
- Total revenue rose consistently, reaching $44.2 million in Q4 2024 from $37.6 million in Q4 2022, indicating healthy overall business expansion.
- Provision for credit losses remained relatively low and stable ($295k in Q4 2024), suggesting controlled credit risk and good loan portfolio quality.
- Basic and diluted earnings per share increased to $0.38 in Q4 2024 from $0.39 in Q4 2022, reflecting solid shareholder returns despite share count growth.
- Operating cash flow remains strong, with $13.2 million net cash from operating activities in Q4 2024, supporting ongoing liquidity.
- Balance sheet growth is steady, with total assets increasing to $5.24 billion as of Q3 2024 from $4.12 billion at Q3 2022, bolstered by lending and investing activities.
- Capital position is supported by $439.7 million in total common equity by Q3 2024, up substantially from $266 million in Q3 2022, indicating financial strength.
Neutral factors to watch:
- Non-interest income shows some volatility quarter to quarter, impacted by other service charges which swung notably (e.g., -$7.2 million in Q4 2024 vs. positive figures in prior quarters), requiring monitoring for operational consistency.
- Amortization and restructuring charges fluctuate but remain manageable, unlikely to significantly impact results.
- Share count has modestly increased from approximately 34.1 million shares Q1 2022 to 37.6 million shares Q4 2024, slightly diluting earnings per share but in line with growth.
Areas of concern or negative impact:
- Net cash used in financing activities was significant at -$82.3 million in Q4 2024, largely due to a substantial net decrease in deposits ($95 million) which may reflect customer withdrawals or repricing pressures.
- Interest expense has gradually risen, notably deposits interest expense increased from $6.98 million in Q4 2022 to $21.1 million in Q4 2024, pressuring net interest margins.
- The increase in non-interest expenses over time—total non-interest expense was $26.2 million in Q4 2024 compared to $21.1 million in Q4 2022—may weigh on profitability if not controlled efficiently.
Summary: FMNB has steadily grown its net interest income and overall profitability over the past two years, supported by a strong balance sheet and stable credit provisions. However, rising interest expense and significant outflows in deposit funding in recent quarters warrant attention. The company’s ability to manage expenses and non-interest income volatility will be key to sustaining this positive trend for investors.
08/09/25 08:02 AMAI Generated. May Contain Errors.