Farmers National Banc Q3 interest income rises on acquisition boost
FMNB•Farmers National Banc reported Q3 net interest income of $57.94 million, with its Middlefield acquisition contributing to higher income and improved net interest margin. GAAP EPS fell year over year to $0.25, while adjusted EPS rose excluding one-time costs.
1. Q3 results
Farmers National Banc said the Middlefield acquisition drove increases in net interest income, loan and deposit balances, and noninterest expense. Net interest income was $57.94 million, and EPS was $0.25; GAAP EPS fell year over year, while adjusted EPS rose excluding one-time costs.
2. Restructuring and outlook
The company restructured $90.5 million of securities, recording a $10.3 million loss on securities sales while increasing yields on those assets. It expects its Q4 2026 net interest margin to be between 3.43% and 3.46%, and said financial benefits from recent initiatives are expected to begin in Q4 2026.
