Thursday, October 17, 2002 | Press Release
Source:
Farmers National Banc Corp.
Frank L. Paden, President
20 South Broad St.
P.O. Box 555
Canfield, OH 44406
Phone: 330-533-3341
Fax: 330-533-0451
Email: exec@fnbcanfield.com
FARMERS NATIONAL BANC CORP. REPORTS EARNINGS FOR THIRD QUARTER 2002 AND DECLARES STOCK DIVIDEND
CANFIELD, Ohio - Farmers National Banc Corp, (OTC BB: FMNB),
the parent holding company of Farmers National Bank, today reported its 2002 third quarter and
year-to-date results.
In the quarter ended September 30, 2002, the corporation reported net income of $2.241 million or
$.19 per share. This represents an 11.5% increase over the $2.009 million, or $.17 per share in net
earnings that the company recorded for the quarter ended September 30, 2001.
For the nine months ended September 30, 2002, the corporation earned $5.656 million, or $.47 per
share compared to $5.612 million, or $.47 per share reported for the same nine-month period in 2001.
The company's total assets at the end of the third quarter of 2002 amounted to $750.828 million, an
increase of 16.5% over the $644.329 million in total assets recorded at September 30, 2001, and 7.5% over
the $698.252 million in assets as of June 30, 2002. Total Loans at September 30, 2002 were $448.069 million,
up $5.905 million compared to September 30, 2001.
On October 8, 2002, the Board of Directors declared a 2% stock dividend, payable on November 29, 2002
to shareholders of record on November 15, 2002. This stock dividend marks the twenty-seventh consecutive
year that the corporation paid this type of dividend.
Farmers National Bank operates sixteen banking offices throughout Mahoning, Trumbull and Columbiana counties.
The bank offers a wide range of banking and investment services to companies and individuals, and maintains a
website at www.fnbcanfield.com.
Farmers National Bank is a wholly owned banking affiliate
of Farmers National Bank Corp. ©2000-2004 Farmers National Bank Corp. All
Rights Reserved.
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