Farmers reports increase in income
CANFIELD — Farmers National Banc Corp. reported second quarter of 2020 net income of $11 million, compared with $8.5 million for the same quarter in 2019, and $8.6 million for the linked quarter.
The quarter marked the 150th in a row of profitability for the Canfield-based company that operates Farmers Bank.
Loans grew 20 percent to $2.1 billion compared with $1.7 billion at the end of June 2019, including the acquisition of Maple Leaf. Excluding Maple Leaf, loan growth was 10.5 percent.
Deposits increased 28 percent, from $1.9 billion in June 2019 to $2.4 billion at the end of June 2020.