Farmers named No. 1 performing bank in Ohio, 17th in US
YOUNGSTOWN — Canfield-based Farmers National Bank was named the top-performing bank in Ohio and 17th in the U.S. by Bank Director Magazine, a well-known national publication among financial professionals.
In its annual Bank Scorecard Report, Bank Director in its latest issue rated the country’s banks on a wide range of performance measures, including profitability, capital adequacy and asset quality.
Farmers outperformed all other Ohio banks in its class to secure the honor this year.
“We have a culture of high performance that we strive to deliver each day for our stakeholders and customers. This ranking is the ultimate honor and validation for our associates and their remarkable commitment to making an impact for the local communities and businesses we serve,” said Farmers’ President and CEO Kevin J. Helmick.
Farmers is the wholly-owned subsidiary of Farmers National Banc Corp., which was $3.3 billion in assets. In June, Farmers announced is acquiring Cortland Bancorp Inc., the holding company for Cortland Bank.
The $124 million transaction, expected to received regulatory approval in the fourth quarter, will increase Farmers’ market share in Trumbull, Mahoning and Cuyahoga counties. It will increase the company’s assets to about $4.1 billion and locations to 48 in Ohio and western Pennsylvania.