Farmers National Banc Q1 net income boosted by Middlefield deal

Farmers National Banc

22/04/2026 13:10

Overview

U.S. community bank's Q1 net income, adjusted EPS rise yr/yr on Middlefield acquisition

Company closed acquisition of Middlefield Banc, boosting assets, loans, and deposits

Net interest income and margin improved, driven by acquisition and higher asset yields

Outlook

Company expects net interest margin to expand by about 25 basis points in Q2 2026

Farmers anticipates completing Middlefield integration and core technology conversion in Q3 2026

Company expects continued rate volatility in bond market to affect securities portfolio in 2026

Result Drivers

MIDDLEFIELD ACQUISITION - Acquisition of Middlefield Banc drove increases in assets, loans, deposits, net interest income, and noninterest income

HIGHER YIELDS AND LOWER FUNDING COSTS - Improved net interest margin attributed to higher yields on earning assets and lower funding costs on interest-bearing liabilities

ACQUISITION AND CORE CONVERSION COSTS - Noninterest expense rose due to acquisition and core conversion costs, as well as higher salaries and occupancy expenses

Company press release: ID:nBw2qsZCja

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.36
Q1 Net Interest Income
$42.57 mln
Q1 Credit Loss Provision
-$1.03 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for Farmers National Banc Corp is $15.00, about 9.5% above its April 21 closing price of $13.70

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)