FX.co ★ Farmers National Q1 Net Income Rises

Farmers National Banc Corp. (FMNB) reported a net income of $11.2 million, equating to $0.30 per share, for the first quarter, which shows growth compared to the previous year, which saw a net income of $7.1 million, or $0.19 per share. The first quarter of 2024's net income incorporated a pretax item of $2.1 million, attributed to the loss from selling investment securities. When excluding this factor, the net income for the first quarter of 2024 was roughly $12.9 million, or $0.34 per share. After polling four analysts, Thomson Reuters predicted the company would report a profit per share of $0.33 for the quarter. However, these estimates usually don't take special items into account.

Net interest income was recorded at $31.7 million, showing a drop compared to the previous year's $36.6 million. Noninterest income was $8.4 million, a decrease when compared to the previous year's $10.4 million. Revenue was estimated at $42.29 million by analysts.