UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly period ended September 30, 2023 Commission file number 001-35296 FARMERS NATIONAL BANC CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 20 South Broad Street Canfield, OH 44406 (Address of principal executive offices) (Zip Code) OHIO 34-1371693 (I.R ...

FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly period ended June 30, 2023 Commission file number 001-35296 FARMERS NATIONAL BANC CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly period ended March 31, 2023 Commission file number 001-35296 FARMERS NATIONAL BANC CORP. Not applicable (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act. | Title of each class | Trading Symbol | Name of each exchange on which regis ...

Competition and Market Environment - The Bank faces significant competition in Ohio, with competitors including savings banks, commercial banks, credit unions, and non-depository competitors like mutual funds and insurance companies[16] Subsidiaries and Business Operations - Farmers Trust Company, acquired in 2009, operates five offices in Ohio and provides personal and corporate trust services[17] - Farmers National Captive, Inc., formed in 2016, is a wholly-owned insurance subsidiary that provides property and casualty insurance coverage to the company and its subsidiaries[18] - Farmers National Insurance, LLC, formed in 2009, offers various insurance products and merged with Bowers Insurance Agency, Inc. in 2016[20] - Farmers of Canfield Investment Company, formed in 2014, primarily invests in municipal securities[21] Employee and COVID-19 Response - As of December 31, 2022, Farmers and its subsidiaries had 546 full-time equivalent employees[23] - Farmers implemented COVID-19 safety protocols, including distributing PPE, promoting remote work, and providing additional PTO and bonuses for front-line employees[26] Regulatory Environment - Farmers Bank is subject to regulation by the OCC and FDIC, with restrictions on activities, capital requirements, and dividend limitations[32][37] - The company is regulated by the Federal Reserve Board as a financial holding company, with activities including securities underwriting and insurance[29][39] - Farmers Bank is a member of the Federal Home Loan Bank of Cincinnati, which provides credit and requires community investment standards[36] - Farmers Bank is subject to restrictions on transferring funds to affiliates, with limits of 10% of capital stock and surplus for any single affiliate and 20% in aggregate[48] - Basel III requires Farmers Bank to maintain a minimum Common Equity Tier 1 (CET1) ratio of 7.0%, Tier 1 capital ratio of 8.5%, and total capital ratio of 10.5%[57] - Basel III allows deductions from CET1 if mortgage servicing rights, deferred tax assets, or investments in non-consolidated financial entities exceed 10% of CET1 individually or 15% in aggregate[58] - The Dodd-Frank Act may impose more stringent capital requirements on systemically important financial institutions, potentially impacting the company's net income and return on equity[59] - The CECL model adoption impact on regulatory capital was delayed for two years due to COVID-19, followed by a three-year transition period[60] - The Regulatory Relief Act exempts bank holding companies with assets under $100 billion, including Farmers, from enhanced prudential standards and certain reporting requirements[61] - The Volcker Rule exempts community banks with $10 billion or less in total consolidated assets and trading assets/liabilities of 5% or less of total assets[65] - The FDIC's designated reserve ratio (DRR) fell to 1.30% as of June 30, 2020, prompting a restoration plan to reach 1.35% by September 30, 2028[72] - The FDIC assesses deposit insurance premiums based on risk characteristics and may impose special assessments in emergencies[70] - The Federal Reserve Board's monetary policies significantly affect the company's loan growth, deposit levels, and interest rates[74] - Farmers Bank received a "satisfactory" rating in its most recent Community Reinvestment Act (CRA) examination, which is required for new activities or acquisitions under the Bank Holding Company Act (BHCA)[76] - The Paycheck Protection Program (PPP) application deadline expired on May 31, 2021, with no collateral or personal guarantees required for loans, and no fees charged to recipients[87] - Federal banking regulators require financial institutions to notify their respective federal regulator of a computer-security incident within 36 hours of determining its occurrence, effective May 2022[90] - The Cyber Incident Reporting for Critical Infrastructure Act, enacted in March 2022, requires covered entities to report cybersecurity incidents to CISA within 72 hours and ransom payments within 24 hours[91] - The Dodd-Frank Act allows shareholders to cast non-binding votes on executive compensation practices and imposes new disclosure requirements[84] - The CARES Act, enacted in March 2020, created the PPP to fund operational costs for eligible businesses during COVID-19, with Farmers Bank participating as a lender[86] - Federal banking regulators issued guidance in 2015 requiring financial institutions to maintain business continuity planning processes to recover from cybersecurity attacks[88] - The Sarbanes-Oxley Act requires the company's CEO and CFO to certify the accuracy of Quarterly and Annual Reports and disclose internal control evaluations[81] - State regulators are increasingly implementing privacy and cybersecurity standards, with Farmers Bank monitoring these developments[92] Interest Rate and Financial Risk Management - Net interest income change for a +300 basis points interest rate shift is -5.4% in 2022, exceeding the ALCO guidelines of 4.5% to -10.0%[300] - Net present value of equity change for a +300 basis points interest rate shift is -20.9% in 2022, exceeding the ALCO guidelines of 6.2% to -10.0%[300] - The Federal Open Market Committee raised the discount rate by 4.5% throughout 2022, the fastest pace on record, leading to an inverted yield curve[300] - The two-year treasury yield exceeds the ten-year treasury yield by 55 basis points at the end of 2022, compared to the ten-year exceeding the two-year by over 139 basis points at the end of 2021[300] - The investment portfolio has a 17% valuation reserve due to the highly elevated yield curve[300] - The company prioritizes loan growth and shrinks the investment portfolio to mitigate the gap between book rates and market rates[300] - The company utilizes wholesale funding in response to deposit shrinkage to avoid cost increases on core deposits[300] - The largest amount of interest-sensitive assets and liabilities mature within twelve months, which the company monitors closely[302] - Early withdrawal of deposits, prepayments of loans, and loan delinquencies can impact actual results compared to simulation analysis[302] - The company does not hold market risk-sensitive instruments for trading purposes or derivative financial instruments and has no plans to purchase them in the near future[301] Cybersecurity and Risk Management - Farmers Bank employs multiple layers of security controls and preventative tools to monitor and block suspicious activity, though cybersecurity risks remain high[93]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly period ended September 30, 2022 Commission file number 001-35296 FARMERS NATIONAL BANC CORP. (Exact name of registrant as specified in its charter) OHIO 34-1371693 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No) 20 South Broad Street Canfield, OH 44406 (Address of principal ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly period ended June 30, 2022 Commission file number 001-35296 FARMERS NATIONAL BANC CORP. (Exact name of registrant as specified in its charter) OHIO 34-1371693 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No) 20 South Broad Street Canfield, OH 44406 (Address of principal exec ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly period ended March 31, 2022 Commission file number 001-35296 FARMERS NATIONAL BANC CORP. (Exact name of registrant as specified in its charter) OHIO 34-1371693 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No) 20 South Broad Street Canfield, OH 44406 (Address of principal ex ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-35296 Farmers National Banc Corp. (Exact name of registrant as specified in its charter) Ohio 34-1371693 (State or other jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common Stock, No Par Value FMNB The NASDAQ Stock Market FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly period ended September 30, 2021 Commission file number 001-35296 FARMERS NATIONAL BANC CORP. (Exact name of registrant as specified in its charter) OHIO 34-1371693 (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common Stock, No Par Value FMNB The NASDAQ Stock Market FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly period ended June 30, 2021 Commission file number 001-35296 FARMERS NATIONAL BANC CORP. (Exact name of registrant as specified in its charter) OHIO 34-1371693 (State or other jurisdiction of ...