Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Parent Company Only Condensed Financial Information

NOTE 25 – PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Below is condensed financial information of Farmers National Banc Corp. (parent company only). This information should be read in conjunction with the consolidated financial statements and related notes.

December 31,	2021		2020
BALANCE SHEETS
Assets:
Cash	$	92,076	$	8,738
Investment in subsidiaries
Bank		453,695		336,326
Farmers Trust		13,667		13,414
Captive		2,588		2,165
Equity securities		0		358
Total assets	$	562,026	$	361,001

Liabilities:
Other liabilities	$	1,836	$	1,149
Note payable		0		350
Subordinate debt		87,758		9,405
Total liabilities		89,594		10,904
Total stockholders' equity		472,432		350,097
Total liabilities and stockholders' equity	$	562,026	$	361,001

STATEMENTS OF INCOME
Years ended December 31,	2021			2020			2019
Income:
Dividends from subsidiaries
Bank	$	45,620		$	28,646		$	33,896
Farmers Trust		2,800			2,300			2,300
Captive Insurance		1,135			1,000			535
Interest and dividends on securities		11			12			15
Security gains/(losses)		130			(28	)		41
Total Income		49,696			31,930			36,787
Interest on borrowings		(918	)		(361	)		(154	)
Other expenses		(2,792	)		(2,746	)		(2,352	)
Income before income tax benefit and undistributed subsidiary income		45,986			28,823			34,281
Income tax benefit		611			592			470
Equity in undistributed net income of subsidiaries (dividends in excess of net income)
Bank		4,412			12,244			508
Farmers Trust		412			237			(31	)
Captive		423			(20	)		532
Net Income	$	51,844		$	41,876		$	35,760

STATEMENTS OF CASH FLOWS
Years ended December 31,	2021			2020			2019
Cash flows from operating activities:
Net income	$	51,844		$	41,876		$	35,760
Adjustments to reconcile net income to net cash from operating activities:
Dividends in excess of net income (Equity in undistributed net income of subsidiary)		(5,247	)		(12,461	)		(1,009	)
Other		6,846			1,167			(30	)
Net cash from operating activities		53,443			30,582			34,721

Cash flows from investing activities:
Net cash paid in business combinations		(29,618	)		(20,423	)		0
Net cash from investing activities		(29,618	)		(20,423	)		0

Cash flows from financing activities:
Proceeds from long term borrowings		73,749			0			0
Repurchase of common shares		(164	)		(14,238	)		(2,842	)
Cash dividends paid		(14,072	)		(12,654	)		(10,539	)
Net cash from financing activities		59,513			(26,892	)		(13,381	)
Net change in cash and cash equivalents		83,338			(16,733	)		21,340

Beginning cash and cash equivalents		8,738			25,471			4,131
Ending cash and cash equivalents	$	92,076		$	8,738		$	25,471