Farmers National Banc Corp. (“Farmers” or the “Company”) (NASDAQ: FMNB),
the holding company for The Farmers National Bank of Canfield (“Farmers
National Bank”), announced that on June 19, 2015, it completed the
merger of National Bancshares Corporation (“National Bancshares”)
(OTCQX: NBOH), the holding company for First National Bank of Orrville
(“First National Bank”),with and into Farmers (the “Merger”). As a
result of the Merger, shares of National Bancshares are no longer traded
on the OTCQX marketplace.
Immediately following the Merger, First National Bank was merged with
and into Farmers National Bank. Farmers, headquartered in Canfield,
Ohio, now has approximately $1.6 billion in banking assets, $1 billion
in trust assets and operates 33 branches in Mahoning, Trumbull,
Columbiana, Stark, Wayne, Medina, and Cuyahoga Counties in Ohio.
“I am very pleased we were able to accomplish our goal of closing this
deal by the end of the second quarter,” says Kevin J. Helmick, President
& CEO of Farmers. “We committed to our investors and shareholders that
we would do so and I am excited that we were able to deliver on our
promise.”
Mark Witmer, CEO of First National Bank has become a Senior Executive
Vice President, Chief Community Banking Officer of Farmers. Mr. Witmer
added, “We found an excellent partner for growth in Farmers. Our
employees, customers and shareholders will benefit from the creation of
the new combined company. I am especially pleased that this merger
introduces a robust wealth management platform to our loyal customers in
Wayne, Medina and Stark counties.”
ABOUT FARMERS NATIONAL BANC CORP.
Founded in 1887, Farmers is a diversified financial services company
headquartered in Canfield, Ohio, with approximately $1.6 billion in
banking assets and $1 billion in trust assets. Farmers’ wholly-owned
subsidiaries are comprised of Farmers National Bank, a full-service
national bank engaged in commercial and retail banking with 33 banking
locations in Mahoning, Trumbull, Columbiana, Stark, Wayne, Medina, and
Cuyahoga Counties in Ohio, Farmers Trust Company, which operates two
trust offices and offers services in the same geographic markets and
National Associates, Inc. Farmers National Insurance, LLC, a
wholly-owned subsidiary of Farmers National Bank, offers a variety of
insurance products.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are not historical facts, but rather statements based on the
Company's current expectations regarding our business strategies and
their intended results and future performance. Forward-looking
statements are preceded by terms such as "expects," "believes,"
"anticipates," "intends" and similar expressions, as well as any
statements related to future expectations of performance or conditional
verbs, such as "will," "would," "should," "could," or "may."
Forward-looking statements are not guarantees of future performance.
Numerous risks and uncertainties could cause or contribute to the
Company's actual results, performance, and achievements to be materially
different from those expressed or implied by the forward-looking
statements. Factors that may cause or contribute to these differences
include, without limitation, the Company's failure to integrate National
Bancshares and First National Bank in accordance with expectations;
deviations from performance expectations related to National Bancshares
and First National Bank; general economic conditions, including changes
in market interest rates and changes in monetary and fiscal policies of
the federal government; legislative and regulatory changes; competitive
conditions in the banking markets served by the Company's subsidiaries;
the adequacy of the allowance for losses on loans and the level of
future provisions for losses on loans; and other factors disclosed
periodically in the Company's filings with the Securities and Exchange
Commission.
Because of the risks and uncertainties inherent in forward-looking
statements, readers are cautioned not to place undue reliance on them,
whether included in this report or made elsewhere from time to time by
the Company or on the Company's behalf. The Company assumes no
obligation to update any forward-looking statements.
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