Staff report

CANFIELD — Farmers National Banc Corp., the parent company of Farmers National Bank in Canfield, reported net income of $8.6 million, or 30 cents per diluted share, for the quarter ending March 31.

In comparison, the company reported net income of $8.4 million, or 30 cents per diluted share, for the same three-month period in 2019.

For the previous quarter ending Dec. 31, the company had a net income of $9.7 million, or 35 cents per diluted share.

Net income excluding acquisition costs for the quarter was $9.7 million, or 34 cents per share, compared to $8.4 million, or 30 cents per share, for the same quarter in 2019, and $9.8 million or 35 cents per share for the most recent quarter.

Farmers announced in January it completed the merger with Maple Leaf Financial, the holding company of Geauga Savings Bank.

That transaction increases Farmers’ market share in Cuyahoga and Geauga counties and enables Farmers to continue building scale throughout northeast Ohio. In January, Maple Leaf had assets of $277 million, which included gross loans of $182.1 million, deposits of $183.1 million and equity of $32.1 million.

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