Company profile

Ticker
FMNB
Exchange
CEO
Kevin J. Helmick
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
IRS number
341371693

FMNB stock data

(
)

Calendar

7 Aug 19
14 Oct 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Net income 8.54M 8.39M 8.69M 8.08M
Diluted EPS 0.31 0.3 0.31 0.29
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Net income 32.57M 22.71M 20.56M 8.06M
Diluted EPS 1.16 0.82 0.76 0.36

Financial data from company earnings reports

Financial report summary

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Management Discussion
  • Comparison of Operating Results for the Years Ended December 31, 2018 and 2017.
  • The Company’s net income totaled $32.6 million during 2018, compared to $22.7 million for 2017.  On a per share basis, diluted earnings per share were $1.16 as compared to $0.82 diluted earnings per share for 2017.  Return on average assets and return on average equity were 1.46% and 13.13%, respectively, for the year ending December 31, 2018, compared to 1.09% and 9.92% for 2017.  The return on average tangible equity increased from 13.48% in 2017 to 15.95% in 2018.
  • On December 22, 2017, H.R.1, known as the “Tax Cuts and Jobs Act,” was signed into law.  H.R.1, among other things, reduced the corporate income tax rate to 21% effective January 1, 2018.  As a result of passage of the new tax law, Farmers’ effective tax rate decreased from 30.72% for the year ended December 31, 2017 to 14.92% for the year ended December 31, 2018.  It is important to note that also as a result of the new tax law, Farmers determined that its net deferred tax assets needed to be reduced in the fourth quarter of 2017 by approximately $1.8 million, representing an impact on earnings per share of approximately $0.06 per diluted share for that fourth quarter, based on that quarter’s weighted average diluted shares outstanding of approximately 28 million.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: addressed, behalf, Carl, Certification, Code, component, Culp, duly, escrow, Exhibit, File, filed, formatted, hedge, hedging, Helmick, herewith, incorporated, Incorporation, Inline, iXBRL, Kevin, Language, noncollateral, Nonemployee, October, pending, qualifying, registrant, Registration, release, reorganization, rose, running, Section, shareholder, suspended, Targeted, temporary, thereunto, Treasurer, undersigned, vi, Vice
Removed: Conversely, drop, EFT, March, motivating, municipal, promote, reduce, seek, split