Farmers National Banc Corp. (FMNB) Income Statement

30Y historyFree accessUpdated daily

Revenue and margin performance is mixed, as NII surged 61.6% sequentially to $57.9M while non-interest income turned negative at -$4.3M and EPS fell 24.2% to $0.25 in 2026Q3.

Annual statement

FMNB Income Statement

Farmers National Banc Corp. (FMNB) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Net Interest Income	193.56M	142.44M	126.92M	135.8M	123.3M	107.49M	95.65M	81.75M	77.85M	73.11M	67.61M	49.45M	36.15M	35.7M	36.69M	36.4M	37.18M	32.97M	26.08M	23.64M	23.9M	27.25M	29M	29.74M	26.72M	24.68M	24.29M	17.9M	16.49M	15.45M	14.12M
NII Growth %	165.27%	12.23%	-6.54%	10.14%	14.7%	12.38%	17%	5.01%	6.48%	8.14%	36.71%	36.81%	1.25%	-2.7%	0.8%	-2.09%	12.78%	26.4%	10.3%	-1.06%	-12.28%	-6.05%	-2.48%	11.29%	8.26%	1.61%	35.71%	8.54%	6.76%	9.39%	15.06%
Net Interest Margin %	2.72%	2.72%	2.48%	2.67%	3.02%	2.59%	3.11%	3.34%	3.34%	3.39%	3.44%	2.64%	3.18%	3.14%	3.22%	3.41%	3.78%	3.25%	2.96%	2.96%	2.91%	3.29%	3.55%	3.66%	3.57%	3.76%	3.88%	4.15%	4.11%	4.19%	4.18%
Interest Income	301.15M	233.79M	226.28M	211.35M	141.22M	115.96M	111.78M	101.36M	91.11M	79.99M	71.98M	53.54M	40.73M	40.76M	42.9M	44.24M	48.18M	49.51M	46.03M	45.54M	44.1M	42.48M	41.77M	43.67M	44.01M	45.69M	45.84M	30.5M	29.23M	27.58M	24.88M
Interest Expense	107.59M	91.35M	99.36M	75.55M	17.92M	8.47M	16.14M	19.61M	13.27M	6.88M	4.38M	4.09M	4.58M	5.06M	6.21M	7.84M	11M	16.55M	19.95M	21.89M	20.2M	15.24M	12.77M	13.93M	17.29M	21M	21.55M	12.6M	12.74M	12.13M	10.76M
Loan Loss Provision	6.5M	7.07M	7.97M	9.15M	1.12M	4.89M	9.1M	2.45M	3M	3.35M	3.87M	3.51M	1.88M	1.29M	725K	3.65M	8.08M	6.05M	1.42M	570K	200K	649K	915K	870K	1.08M	1.08M	865K	800K	840K	855K	655K
Non-Interest Income	26.1M	38.03M	43.17M	43.85M	36.7M	38.69M	36.7M	28.67M	26.15M	24.59M	23.76M	18.59M	15.49M	14.11M	12.78M	12.73M	13.4M	9.72M	5.72M	5.28M	5.13M	4.39M	3.76M	2.98M	3.19M	3.42M	2.99M	1.6M	-13.95M	-12.82M	-11.99M
Non-Interest Income %	11.88%	21.07%	25.38%	24.41%	22.94%	26.47%	27.73%	25.96%	25.15%	25.17%	26%	27.33%	30%	28.33%	25.84%	25.92%	26.49%	22.78%	17.98%	18.26%	17.68%	13.87%	11.48%	9.1%	10.67%	12.17%	10.97%	8.21%	-549.76%	-488.91%	-561.97%
Total Net Revenue	219.66M	180.48M	170.08M	179.65M	159.99M	146.18M	132.35M	110.42M	104M	97.7M	91.36M	68.04M	51.64M	49.81M	49.48M	49.14M	50.58M	42.69M	31.8M	28.93M	29.03M	31.63M	32.76M	32.72M	29.91M	28.1M	27.28M	19.5M	2.54M	2.62M	2.13M
Revenue Growth %	19.64%	6.11%	-5.32%	12.28%	9.45%	10.45%	19.86%	6.17%	6.45%	6.93%	34.27%	31.77%	3.67%	0.68%	0.69%	-2.85%	18.48%	34.26%	9.92%	-0.37%	-8.21%	-3.45%	0.14%	9.37%	6.45%	3%	39.92%	668.32%	-3.24%	22.96%	32.3%
Non-Interest Expense	132.79M	108.36M	106.69M	111.8M	86.04M	79.18M	72.98M	64.89M	62.72M	61.19M	59.45M	53.98M	38.16M	39.06M	35.76M	33.73M	30.96M	29.73M	23.72M	21.25M	19.62M	20.21M	22.17M	18.37M	17.56M	16.82M	18.02M	10.7M	-5.84M	-5.17M	-4.58M
Efficiency Ratio	60.45%	60.04%	62.73%	62.23%	53.77%	54.16%	55.14%	58.77%	60.3%	62.63%	65.07%	79.33%	73.9%	78.41%	72.29%	68.64%	61.22%	69.64%	74.61%	73.48%	67.57%	63.9%	67.68%	56.15%	58.71%	59.85%	66.06%	54.87%	-229.94%	-197.26%	-214.86%
Operating Income	80.37M	65.05M	55.43M	58.7M	72.83M	62.11M	50.27M	43.08M	38.28M	33.16M	28.04M	10.55M	11.6M	9.46M	12.99M	11.76M	11.54M	6.91M	6.65M	7.1M	9.21M	10.77M	9.68M	13.47M	11.27M	10.2M	8.4M	8M	7.53M	6.94M	6.06M
Operating Margin %	36.59%	36.04%	32.59%	32.67%	45.52%	42.49%	37.98%	39.01%	36.81%	33.94%	30.69%	15.51%	22.46%	19%	26.25%	23.93%	22.81%	16.19%	20.92%	24.55%	31.74%	34.05%	29.53%	41.19%	37.68%	36.31%	30.77%	41.03%	296.85%	264.66%	284.15%
Operating Income Growth %	-	17.35%	-5.57%	-19.41%	17.26%	23.56%	16.71%	12.52%	15.45%	18.25%	165.7%	-8.99%	22.55%	-27.13%	10.45%	1.93%	66.91%	3.89%	-6.32%	-22.93%	-14.45%	11.32%	-28.2%	19.55%	10.46%	21.53%	4.95%	6.19%	8.53%	14.53%	15.98%
Pretax Income	81.27M	65.05M	55.43M	58.7M	72.83M	62.11M	50.27M	43.08M	38.28M	33.16M	28.04M	10.55M	11.6M	9.46M	12.99M	11.76M	11.54M	6.91M	6.65M	7.1M	9.21M	10.77M	9.68M	13.47M	11.27M	10.2M	8.4M	8M	7.53M	6.94M	6.06M
Pretax Margin %	37%	36.04%	32.59%	32.67%	45.52%	42.49%	37.98%	39.01%	36.81%	33.94%	30.69%	15.51%	22.46%	19%	26.25%	23.93%	22.81%	16.19%	20.92%	24.55%	31.74%	34.05%	29.53%	41.19%	37.68%	36.31%	30.77%	41.03%	296.85%	264.66%	284.15%
Income Tax	12.8M	10.46M	9.48M	8.77M	12.24M	10.27M	8.4M	7.32M	5.71M	10.45M	7.49M	2.5M	2.63M	1.68M	3.06M	2.54M	2.54M	1.07M	987K	1.18M	2M	2.71M	2.49M	3.96M	3.34M	2.91M	2.65M	2.5M	2.42M	2.2M	1.93M
Effective Tax Rate %	15.75%	16.08%	17.1%	14.93%	16.8%	16.53%	16.7%	16.98%	14.93%	31.51%	26.69%	23.68%	22.7%	17.79%	23.52%	21.6%	22.05%	15.47%	14.84%	16.56%	21.7%	25.16%	25.78%	29.39%	29.61%	28.56%	31.54%	31.25%	32.11%	31.69%	31.84%
Net Income	68.47M	54.59M	45.95M	49.93M	60.6M	51.84M	41.88M	35.76M	32.57M	22.71M	20.56M	8.05M	8.96M	7.78M	9.93M	9.22M	8.99M	5.84M	5.67M	5.92M	7.21M	8.06M	7.18M	9.52M	7.93M	8.66M	7.66M	5.5M	5.12M	4.74M	4.13M
Net Margin %	31.17%	30.25%	27.02%	27.79%	37.87%	35.47%	31.64%	32.39%	31.32%	23.25%	22.5%	11.84%	17.36%	15.62%	20.07%	18.76%	17.78%	13.68%	17.82%	20.48%	24.85%	25.48%	21.92%	29.08%	26.52%	30.81%	28.06%	28.21%	201.54%	180.79%	193.68%
Net Income Growth %	26.01%	18.8%	-7.98%	-17.6%	16.88%	23.8%	17.1%	9.8%	43.41%	10.48%	155.21%	-10.15%	15.23%	-21.67%	7.75%	2.52%	53.9%	3.12%	-4.39%	-17.88%	-10.48%	12.24%	-24.53%	19.93%	-8.37%	13.09%	39.22%	7.53%	7.87%	14.78%	15.52%
Net Income (Continuing)	68.47M	54.59M	45.95M	49.93M	60.6M	51.84M	41.88M	35.76M	32.57M	22.71M	20.56M	8.05M	8.96M	7.78M	9.93M	9.22M	8.99M	5.84M	5.67M	5.92M	7.21M	8.06M	7.18M	9.52M	7.93M	7.29M	5.75M	5.5M	5.12M	4.74M	4.13M
EPS (Diluted)	1.15	1.45	1.22	1.33	1.79	1.77	1.47	1.28	1.16	0.82	0.76	0.36	0.48	0.41	0.53	0.50	0.66	0.44	0.43	0.46	0.55	0.62	0.55	0.74	0.62	0.57	0.46	0.66	0.63	0.61	0.52
EPS Growth %	-3.47%	18.85%	-8.27%	-25.7%	1.13%	20.41%	14.84%	10.34%	41.46%	7.89%	111.11%	-25%	17.07%	-22.64%	6%	-24.24%	50%	2.33%	-6.52%	-16.36%	-11.29%	12.73%	-25.68%	19.35%	8.77%	23.91%	-30.3%	4.76%	3.28%	17.31%	15.56%
EPS (Basic)	-	1.46	1.23	1.34	1.79	1.78	1.48	1.29	1.18	0.82	0.76	0.36	0.48	0.41	0.53	0.50	0.66	0.44	0.43	0.46	0.55	0.62	0.56	0.74	0.62	0.57	0.46	0.66	0.63	0.61	0.52
Diluted Shares Outstanding	59.3M	37.63M	37.51M	37.5M	33.93M	29.28M	28.39M	27.88M	27.97M	27.62M	27M	22.68M	18.68M	18.77M	18.79M	18.27M	13.56M	13.36M	13.1M	13M	13.12M	13M	13.06M	12.94M	12.9M	15.06M	8.32M	8.32M	8.11M	7.84M	7.94M

Key Metrics

Growth RegimeMixed

ProfitabilityModerate

Balance SheetAdequate

Cash FlowStable

Top Statement Risk

Integration execution and Q3 earnings shortfall

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q3)

Net Interest Income Jump Masks Integration Noise

Based on reported figures, FMNB's net interest income rose to $57.9M in 2026Q3 from $42.6M the prior quarter, a 61.6% sequential jump that likely reflects acquisition-driven balance sheet growth rather than organic repricing.

The step-change in NII coincides with the Middlefield integration, suggesting the increase is primarily volume-driven and may include purchase accounting accretion that could roll off over time. Investors should separate recurring core NII from acquired-balance contributions before extrapolating this trajectory. The 2026Q1 and 2026Q2 figures are identical in the supplied data, which warrants verification against source filings before drawing trend conclusions.

Net Interest Margin Compression Under Scrutiny

As reported in the supplied figures, FMNB's net interest margin sits at 0.8% in 2026Q3 and 0.6% in 2026Q2, a range that appears thin relative to the efficiency burden the bank carries.

The reported NIM figures are rounded to one decimal place, limiting precision, but the trend suggests asset yields may not be keeping pace with funding costs during the integration period. Peer comparison is constrained because the peer set provided does not disclose NIM, so positioning cannot be confirmed from this data. The deposit beta behavior of the acquired Middlefield deposit base warrants monitoring.

Efficiency Ratio Deterioration Signals Cost Pressure

According to the supplied income statement, FMNB's efficiency ratio climbed to 64.2% in 2026Q3 from 60.8% in the prior quarter, indicating non-interest expense is absorbing a larger share of revenue during integration.

A rising efficiency ratio alongside a sharp EPS decline to $0.25 from $0.36 suggests conversion and integration costs may be weighing on operating leverage in the near term. Management's characterization of these costs as transitional is plausible but unverified in the data provided. Sustained improvement in this ratio in subsequent quarters would be the clearest evidence that projected cost synergies are materializing.

Provision Swing Reflects Reserve Volatility

Based on reported figures, FMNB's provision expense moved from a $1.0M benefit in 2026Q2 to a $2.8M charge in 2026Q3, a swing that may reflect reserve recalibration under CECL rather than realized credit deterioration.

The provision trajectory across the ten reported quarters shows repeated volatility, including a negative provision in 2025Q1 and 2026Q2, which suggests reserve builds and releases are driving earnings more than charge-off trends. Under CECL, macroeconomic assumption changes can produce material swings unrelated to actual losses. Without charge-off or non-performing loan data in the supplied set, the underlying credit trend cannot be confirmed.

Fee Income Reversal Challenges Diversification Thesis

As reported in the supplied figures, non-interest income turned negative at -$4.3M in 2026Q3 after running $5.7M to $12.7M across prior quarters, challenging the view that fee income provides a stable offset to rate sensitivity.

The fee income decline from roughly 25% of revenue in 2024 to a negative contribution in 2026Q3 suggests the diversification thesis may be weaker than management implies, or that the negative figure reflects mark-to-market or accounting items rather than recurring fee erosion. Insurance and trust revenue are not separately itemized in the data, limiting attribution. Investors should verify whether the swing is transitory before treating fee income as a stabilizer.

FMNB — Frequently Asked Questions

Quick answers to the most common questions about buying FMNB stock.

What was Farmers National Banc Corp.'s (FMNB) revenue in 2025?

For fiscal year 2025, Farmers National Banc Corp. (FMNB) reported total revenue of $180.5M. This represents a 8360.6% increase compared to $2.1M in 1996.

Is Farmers National Banc Corp. (FMNB) profitable?

Farmers National Banc Corp. (FMNB) is profitable, generating $54.6M in net income for the fiscal year ending 2025 with a net profit margin of 30.2%.

What is Farmers National Banc Corp.'s operating profit margin?

Farmers National Banc Corp. (FMNB) reported an operating income of $65.0M, resulting in an operating profit margin of 36.0%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Farmers National Banc Corp.'s gross profit and gross margin?

Farmers National Banc Corp. (FMNB) generated $173.4M in gross profit for the year, representing a gross profit margin of 96.1%. This demonstrates the company's core pricing power and production efficiency.