Company profile

Kevin J. Helmick
Incorporated in
Fiscal year end
Industry (SEC)
IRS number

FMNB stock data



7 May 20
4 Jul 20
31 Dec 20


Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 27.72M 25.85M 25.93M 25.53M
Net income 8.64M 9.68M 9.15M 8.54M
Diluted EPS 0.3 0.34 0.33 0.31
Net profit margin 31.17% 37.43% 35.30% 33.46%
Cash on hand
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 101.99M 91.77M 80.53M 72.5M
Net income 35.76M 32.57M 22.71M 20.56M
Diluted EPS 1.28 1.16 0.82 0.76
Net profit margin 35.06% 35.49% 28.20% 28.36%
Cash on hand

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
1 Jun 20 Kevin J Helmick Farmers National Banc Corp. Common Stock Buy Aquire P No 11.9 42 499.8 89,195
1 Jun 20 Edward Muransky Farmers National Banc Corp. Common Stock Buy Aquire P No 11.9 315 3.75K 34,205
1 Jun 20 Terry A Moore Farmers National Banc Corp. Common Stock Buy Aquire P No 11.9 402 4.78K 33,255
1 Jun 20 Amber B Wallace Farmers National Banc Corp. Common Stock Buy Aquire P No 11.9 16 190.4 27,234
29 May 20 Kevin J Helmick Farmers National Banc Corp. Common Stock Gift Aquire G No 0 1,250 0 6,494
29 May 20 Kevin J Helmick Farmers National Banc Corp. Common Stock Gift Aquire G No 0 1,250 0 6,524
29 May 20 Kevin J Helmick Farmers National Banc Corp. Common Stock Gift Aquire G No 0 1,250 0 6,524
29 May 20 Kevin J Helmick Farmers National Banc Corp. Common Stock Gift Dispose G No 0 3,750 0 85,403
41.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 112 98 +14.3%
Opened positions 21 9 +133.3%
Closed positions 7 5 +40.0%
Increased positions 40 38 +5.3%
Reduced positions 34 21 +61.9%
13F shares
Current Prev Q Change
Total value 227.49M 277.76M -18.1%
Total shares 11.62M 10.85M +7.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK BlackRock 1.52M $17.7M +2.9%
Vanguard 1.17M $13.65M +2.3%
Dimensional Fund Advisors 852.06K $9.91M +3.8%
STT State Street 516.38K $6.01M -7.0%
Beese Fulmer Investment Management 502.81K $5.85M -4.8%
Renaissance Technologies 440.9K $5.13M +39.3%
Maltese Capital Management 430K $5M -30.6%
LSV Asset Management 405.86K $4.72M -1.5%
Geode Capital Management 400.9K $4.66M +15.6%
Elizabeth Park Capital Advisors 380.18K $4.42M -22.9%
Largest transactions
Shares Bought/sold Change
Maltese Capital Management 430K -190K -30.6%
Two Sigma Advisers 176.5K +155.5K +740.5%
Acadian Asset Management 252.86K +141.05K +126.2%
Renaissance Technologies 440.9K +124.3K +39.3%
Elizabeth Park Capital Advisors 380.18K -112.97K -22.9%
Cetera Investment Advisers 71.71K -102.53K -58.8%
JPM JPMorgan Chase & Co. 180.52K +101.62K +128.8%
Arrowstreet Capital, Limited Partnership 123.22K +94.72K +332.4%
Kennedy Capital Management 0 -93.86K EXIT
Two Sigma Investments 117.28K +89.67K +324.9%

Financial report summary

  • Risks Relating to Economic and Market Conditions
  • Changes in economic, political, and market conditions may adversely affect our industry and our business.
  • Changes in interest rates could adversely affect our income and financial condition.
  • Defaults by another larger financial institution could adversely affect financial markets generally.
  • Risks Related to Our Business
  • We extend credit to a variety of customers based on internally set standards and judgment. We manage credit risk through a program of underwriting standards, the review of certain credit decisions and an on-going process of assessment of the quality of credit already extended. Our credit standards and on-going process of credit assessment might not protect us from significant credit losses.
  • We have significant exposure to risks associated with commercial real estate and residential real estate in our primary markets.
  • Our indirect lending exposes us to increased credit risks.
  • Commercial and industrial loans may expose us to greater financial and credit risk than other loans.
  • Our allowance for loan loss may not be adequate to cover actual future losses.
  • We are subject to certain risks with respect to liquidity.
  • Our business strategy includes continuing our growth plans. Our business, financial condition or results of operations could be negatively affected if we fail to grow or fail to manage our growth effectively.
  • We may experience difficulties in integrating acquired businesses, or acquisitions may not perform as expected.
  • We may fail to realize all of the anticipated benefits of acquisitions, which could reduce our anticipated profitability.
  • We may not be able to attract and retain skilled people.
  • Strong competition within our markets could reduce our ability to attract and retain business.
  • Consumers may decide not to use banks to complete their financial transactions.
  • We are exposed to operational risk.
  • We depend on our subsidiaries for dividends, distributions and other payments.
  • We may elect or be compelled to seek additional capital in the future, but that capital may not be available when it is needed.
  • Risks Related to the Legal and Regulatory Environment
  • Increases in FDIC insurance premiums may have a material adverse effect on our earnings.
  • Legislative or regulatory changes or actions, or significant litigation, could adversely impact us or the businesses in which we are engaged.
  • Our results of operations, financial condition or liquidity may be adversely impacted by issues arising in foreclosure practices, including delays in the foreclosure process, related to certain industry deficiencies, as well as potential losses in connection with actual or projected repurchases and indemnification payments related to mortgages sold into the secondary market.
  • Environmental liability associated with commercial lending could have a material adverse effect on our business, financial condition or results of operations.
  • Impairment of investment securities, goodwill, other intangible assets, or deferred tax assets could require charges to earnings, which could result in a negative impact on our results of operations.
  • Changes and uncertainty in tax laws could adversely affect our performance.
  • Anti-takeover provisions could delay or prevent an acquisition or change in control by a third party.
  • We may be a defendant from time to time in the future in a variety of litigation and other actions, which could have a material adverse effect on our business, financial condition or results of operations.
Management Discussion
  • Comparison of Operating Results for the Years Ended December 31, 2019 and 2018.
  • The Company’s net income totaled $35.8 million during 2019, compared to $32.6 million for 2018.  On a per share basis, diluted earnings per share were $1.28 as compared to $1.16 diluted earnings per share for 2018.  Return on average assets and return on average equity were 1.50% and 12.56%, respectively, for the year ending December 31, 2019, compared to 1.46% and 13.13% for 2018.  The return on average tangible equity, excluding acquisition costs, is a non GAAP measure and decreased from 15.95% in 2018 to 14.88% in 2019.
  • On January 7, 2020, the Company completed the acquisition of Maple Leaf Financial, Inc. (“Maple Leaf”), the parent company of Geauga Savings Bank, with branches located in Cuyahoga and Geauga Counties in Ohio.  The Company expects the acquisition to increase synergies and cost savings resulting from the combining of the two companies.  The transaction involved both cash and 1,398,229 shares of stock totaling $39.2 million.  Pursuant to the terms of the Merger Agreement, common shareholders of Maple Leaf had the right to receive $640.00 in cash or 45.5948 common shares, without par value, of the Company, subject to an overall limitation of 50% of the Maple Leaf common shares being exchanged for Farmers common shares and 50% exchanged for cash.  Holders of outstanding and unexercised warrants to purchase Maple Leaf Common Shares received an amount in cash equal to the excess of $640.00 over $370.00, the exercise price of such warrants.  As of January 7, 2020, Maple Leaf had total assets of $277.0 million, which included gross loans of $182.1 million, deposits of $183.1 million and equity of $32.1 million.  
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