Farmers National Banc Corp. (FMNB) Bundle
An Overview of Farmers National Banc Corp. (FMNB)
General Summary of Farmers National Banc Corp. (FMNB)
Farmers National Banc Corp. is a bank holding company headquartered in Canfield, Ohio. The company operates through its primary subsidiary, The Farmers National Bank of Canfield.
| Company Detail | Specific Information |
|---|---|
| Headquarters Location | Canfield, Ohio |
| Founded | 1887 |
| Total Assets | $7.2 billion (as of Q4 2023) |
| Number of Banking Locations | 92 locations |
Financial Performance
Farmers National Banc Corp. reported the following financial metrics for the year 2023:
| Financial Metric | Amount |
|---|---|
| Net Income | $89.4 million |
| Total Revenue | $314.5 million |
| Earnings Per Share | $1.92 |
| Return on Equity | 14.2% |
Key Banking Services
- Commercial Banking
- Personal Banking
- Agricultural Lending
- Wealth Management
- Online and Mobile Banking
Market Position
Farmers National Banc Corp. is a significant regional banking institution in Ohio, with a strong presence in the Midwest financial market.
| Market Ranking | Detail |
|---|---|
| Regional Bank Ranking | Top 10 in Ohio |
| Market Capitalization | $1.2 billion |
| Stock Performance (2023) | +18.5% annual return |
Mission Statement of Farmers National Banc Corp. (FMNB)
Mission Statement Overview
Farmers National Banc Corp. (FMNB) mission statement reflects its strategic commitment to financial services in the Midwestern United States.
Core Mission Components
| Component | Specific Details | 2024 Metrics |
|---|---|---|
| Customer Focus | Personalized banking solutions | 187,342 total customer accounts |
| Community Engagement | Local financial support | $342 million in community investments |
| Financial Performance | Sustainable growth strategy | $4.8 billion total assets |
Strategic Priorities
- Maintain strong capital position of 12.4% Tier 1 Capital Ratio
- Provide competitive interest rates averaging 4.75% for local markets
- Deliver digital banking services with 99.8% system uptime
Financial Performance Indicators
| Metric | 2024 Value |
|---|---|
| Net Income | $89.3 million |
| Return on Equity | 11.6% |
| Loan Portfolio | $3.2 billion |
Technology and Innovation
Digital transformation investments: $14.2 million in 2024
- Mobile banking platform upgrades
- Cybersecurity enhancement
- AI-driven customer service tools
Vision Statement of Farmers National Banc Corp. (FMNB)
Vision Statement Components of Farmers National Banc Corp. (FMNB) in 2024
Strategic Regional Banking FocusFarmers National Banc Corp. maintains a targeted presence in Ohio and Pennsylvania banking markets. As of Q4 2023, the bank operates 106 total banking offices across these two states.
| State | Number of Banking Offices |
|---|---|
| Ohio | 84 |
| Pennsylvania | 22 |
FMNB's vision emphasizes consistent financial growth and shareholder value. Key financial metrics for 2023 include:
- Total assets: $7.8 billion
- Total deposits: $6.5 billion
- Net income: $98.2 million
- Return on equity (ROE): 12.4%
The bank focuses on personalized community banking services with a specific market concentration.
| Customer Segment | Percentage of Portfolio |
|---|---|
| Small Business Lending | 37% |
| Personal Banking | 45% |
| Agricultural Lending | 18% |
FMNB's vision includes continuous technological advancement in banking services.
- Digital banking users: 68% of total customer base
- Mobile banking app downloads: 127,000
- Online transaction volume: 3.2 million per quarter
Core Values of Farmers National Banc Corp. (FMNB)
Core Values of Farmers National Banc Corp. (FMNB) in 2024
Customer-Centric Approach
Farmers National Banc Corp. maintains a dedicated focus on customer service and satisfaction.
| Metric | 2024 Data |
|---|---|
| Customer Retention Rate | 92.3% |
| Digital Banking Users | 78,456 |
| Customer Satisfaction Score | 4.7/5 |
Community Commitment
The bank demonstrates strong local engagement through targeted initiatives.
- Local community investment: $3.2 million in 2024
- Number of community development programs: 17
- Small business loans approved: 342
Operational Integrity
Farmers National Banc Corp. prioritizes transparent and ethical business practices.
| Compliance Metric | 2024 Performance |
|---|---|
| Regulatory Compliance Rating | 99.8% |
| Internal Audit Findings | 2 minor issues resolved |
Financial Innovation
Continuous technological advancement drives the bank's strategic approach.
- Digital transformation investment: $4.5 million
- New digital banking features launched: 6
- Cybersecurity investment: $1.2 million
Employee Development
Commitment to workforce growth and professional enhancement.
| Employee Development Metric | 2024 Data |
|---|---|
| Training Hours per Employee | 48 hours |
| Internal Promotion Rate | 37% |
| Employee Satisfaction Score | 4.6/5 |
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