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Dec 31, 2024
Farmers National Q4 2024 Earnings Report
Reported solid earnings with improved net interest margin.
Key Takeaways
Farmers National Banc Corp. reported a net income of $14.4 million, or $0.38 per diluted share, for the quarter ended December 31, 2024. The net interest margin improved from 2.66% in Q3 2024 to 2.72% in Q4 2024. The company completed the acquisition of Crest Retirement Advisors LLC.
Net income was $14.4 million, or $0.38 per diluted share.
Net interest margin improved to 2.72% from 2.66% in the previous quarter.
Efficiency ratio declined to 56.4%.
Completed the acquisition of Crest Retirement Advisors LLC.
Forward Guidance
Farmers National Banc Corp. believes it is well-positioned to grow earnings in 2025, with an expected expansion of the net interest margin as funding costs reprice lower.
Positive Outlook
- Farmers is very well positioned to grow earnings in 2025.
- Net interest margin will continue to expand in 2025 as funding costs reprice lower.
- SBIC investments continue to generate solid returns.
- Acquisition of Crest Retirement Advisors LLC is expected to further bolster the retirement plan consulting unit in 2025.
- The Company expects that a single non-performing loan with a balance of $1.2 million will be paid off in the first quarter of 2025 and two other non-performing loans totaling $1.6 million will be sold in the first quarter of 2025 at par.
Challenges Ahead
- Volatility in the bond market is expected to continue in 2025.
- Gross unrealized losses on the portfolio totaled $244.1 million at December 31, 2024.
- Non-performing loans increased to $22.8 million at December 31, 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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