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Sep 30, 2022
Farmers National Q3 2022 Earnings Report
Farmers National Banc Corp. reported strong earnings and loan growth for the third quarter of 2022.
Key Takeaways
Farmers National Banc Corp. announced a net income of $15.4 million for the third quarter of 2022, with diluted earnings per share of $0.46. Excluding certain items, net income would have been $16.2 million, or $0.48 per diluted share. The company experienced solid loan growth and opened a new lab branch in Canton, Ohio.
Earnings per diluted share were $0.46 ($0.48 excluding certain items, non-GAAP) for Q3 2022.
Loan growth of $27.3 million for the quarter, excluding PPP loans, representing 4.6% on an annualized basis.
The company achieved 159 consecutive quarters of profitability.
The efficiency ratio, excluding certain items (non-GAAP), was 48.5% for the third quarter of 2022.