CANFIELD — Farmers National Banc Corp., the holding company for Farmers National Bank of Canfield, has completed the merger of Cortland Bancorp with and into a newly formed, wholly owned subsidiary of Farmers, FMNB Merger Subsidiary IV LLC.

Following the completion Monday, shares of Cortland Bancorp., the holding company for Cortland Savings and Banking Company, are no longer traded on the Nasdaq exchange.

This is the sixth acquisition for Canfield-based Farmers in as many years.

“Cortland expands our presence within compelling northeast Ohio markets, including Summit and Portage counties, while increasing our bank assets to over $4.1 billion and our wealth assets to over $3 billion, making us one of the largest community banks in the state of Ohio,” Kevin J. Helmick, Farmers’ president / CEO, said.

“In addition, we look forward to offering our modern and comprehensive financial services to Cortland’s customers and growing our local relationships across Cortland’s footprint. On behalf of everyone at the company, we are pleased to welcome the customers, employees and shareholders of Cortland to Farmers National Banc Corp.,” he said.

With the merger, Farmers brings over two members of Cortland’s board of directors to its board — Richard Thompson and Neil Kaback.

Thompson, of Kinsman, co-founded Therm-O-Link Inc., an electrical wire and cable manufacturer. In recent years, Thompson has actively helped to revitalize the township with businesses that include Stratton Creek Woodworks and The Peter Allen Inn.

Thompson also serves on the board of directors for Hiram College, The Youngstown State University Foundation, The Northern Trumbull County Community Foundation, The Kinsman Public Library, The Kinsman United Methodist Church and Trumbull Family Fitness.

Kaback, of Liberty, is a partner with the accounting and consulting firm Cohen & Company, working out of its Youngstown office.

A certified public accountant, Kaback serves on other boards that include the Youngstown / Warren Regional Chamber, United Way of Youngstown and the Mahoning Valley, Trumbull Memorial Health Foundation and GOJO Industries.

Last week, Cortland Bancorp shareholders approved the merger, which also received regulatory approval this month.

Farmers and Cortland announced the $124 million transaction June 23. Under the agreement, each Cortland Bank shareholder may elect to receive either $28 per share in cash or 1.75 shares of Farmers’ common stock, subject to a limit of 75 percent of the shares being exchanged for Farmers shares and 25 percent for cash.

Now the transaction has closed, Farmers will integrate Cortland Bank’s operating system into its own sometime in the first quarter of 2022 and then start to rebrand Cortland Bank’s branches and other offices under the Farmers name.

The merger expands Farmers’ reach into suburban Cleveland, where Cortland Bank has branches, and into the Akron area, where Cortland Bank has a financial service center in Fairlawn. It gives the bank 48 locations in Mahoning, Trumbull, Columbiana, Stark, Summit, Portage, Wayne, Medina, Geauga and Cuyahoga counties in Ohio and Beaver County in Pennsylvania.

Farmers National Banc Corp. also operates Farmers Trust Company with five trust offices and Farmers National Insurance LLC.