Farmers National Banc Corp. reported net income of $14.6 million, or $0.39 per diluted share, for Q4 2025, up from $14.4 million, or $0.38 per diluted share, in the year-ago quarter. Excluding $925,000 in merger and core conversion costs and $143,000 in pretax losses on asset sales, non-GAAP net income was $15.1 million, or $0.40 per diluted share. The adjusted results topped last year’s non-GAAP net income of $14.8 million, reflecting disciplined expense management and continued revenue diversification across the community banking platform.

Total assets increased modestly to $5.25 billion as of December 31, 2025, from $5.24 billion at September 30, 2025, and $5.12 billion a year earlier. Loans were $3.30 billion, down slightly from $3.34 billion at the end of Q3 but up $36.4 million year-over-year. Securities available for sale rose to $1.34 billion, driven by mark-to-market gains of $62.4 million since January 1, 2025. Total deposits declined to $4.34 billion from $4.40 billion in Q3 due to a $93.4 million seasonal runoff in public funds, but were up $76.0 million from December 2024. Excluding public funds, core deposits grew $35.6 million in the quarter and $151.0 million, or 3.6%, for the full year (excluding brokered CDs).

Nonperforming loans fell to $26.2 million, or 0.79% of total loans, at December 31, 2025, down from 1.06% in Q3 and slightly above the 0.70% level a year earlier. A $7.3 million nonaccrual relationship from Q3 paid off in the quarter, following a $2.5 million charge-off. Total Q4 provision for credit losses was $2.3 million, up from $295,000 a year ago, reflecting that charge-off and an additional $2.0 million write-off against a troubled relationship reserved in prior periods. The allowance for credit losses was 1.11% of loans, broadly stable with the 1.10% a year prior.

Net interest income rose to $37.0 million from $32.7 million a year ago, driven by a 4.87% yield on earning assets and lower funding costs, lifting the net interest margin to 3.05%. The bank’s liability-sensitive profile stands to benefit from expected further Fed rate cuts in 2026. Noninterest income increased to $12.1 million, up from $11.4 million in Q4 2024, led by higher trust fees ($3.1 million), BOLI income ($891,000), and insurance commissions. Offset by a $179,000 decline in other mortgage banking income and lower debit card revenue, Farmers National maintained diversified fee streams contributing to its community banking model.