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Parent Company Only Condensed Financial Information | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Parent Company Only Condensed Financial Information | NOTE 24 – 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, |  | 2023 |  |  | 2022 |
BALANCE SHEETS |  |  |  |  |  |
Assets: |  |  |  |  |  |
Cash |  | $ | 57,071 |  |  | $ | 104,497 |
Investment in subsidiaries |  |  |  |  |  |
Bank |  |  | 424,393 |  |  |  | 261,631 |
Farmers Trust |  |  | 13,431 |  |  |  | 13,598 |
Captive |  |  | 0 |  |  |  | 2,722 |
Other investments |  |  | 424 |  |  |  | 600 |
Total assets |  | $ | 495,319 |  |  | $ | 383,048 |
Liabilities: |  |  |  |  |  |
Other liabilities |  | $ | 2,241 |  |  | $ | 2,542 |
Subordinated debt |  |  | 88,663 |  |  |  | 88,211 |
Total liabilities |  |  | 90,904 |  |  |  | 90,753 |
Total stockholders' equity |  |  | 404,415 |  |  |  | 292,295 |
Total liabilities and stockholders' equity |  | $ | 495,319 |  |  | $ | 383,048 |
STATEMENTS OF INCOME |  |  |  |  |  |  |  |  |
Years ended December 31, |  |  | 2023 |  |  |  | 2022 |  |  |  | 2021 |
Income: |  |  |  |  |  |  |  |  |
Dividends from subsidiaries |  |  |  |  |  |  |  |  |
Bank |  | $ | 20,000 |  |  | $ | 30,000 |  |  | $ | 45,620 |
Farmers Trust |  |  | 4,000 |  |  |  | 8,000 |  |  |  | 2,800 |
Captive Insurance |  |  | 0 |  |  |  | 1,400 |  |  |  | 1,135 |
Interest and dividends on securities |  |  | 44 |  |  |  | 0 |  |  |  | 11 |
Security gains/(losses) |  |  | 0 |  |  |  | 0 |  |  |  | 130 |
Total Income |  |  | 24,044 |  |  |  | 39,400 |  |  |  | 49,696 |
Interest on borrowings |  |  | 4,086 |  |  |  | 3,428 |  |  |  | 918 |
Other expenses |  |  | 4,109 |  |  |  | 3,451 |  |  |  | 2,792 |
Income before income tax benefit and undistributed subsidiary income |  |  | 15,849 |  |  |  | 32,521 |  |  |  | 45,986 |
Income tax benefit |  |  | 1,624 |  |  |  | 1,345 |  |  |  | 611 |
Equity in undistributed net income of subsidiaries (dividends in excess of net income) |  |  |  |  |  |  |  |  |
Bank |  |  | 30,848 |  |  |  | 25,935 |  |  |  | 4,412 |
Farmers Trust |  |  | (320 | ) |  |  | 662 |  |  |  | 412 |
Captive |  |  | 1,931 |  |  |  | 134 |  |  |  | 423 |
Net Income |  | $ | 49,932 |  |  | $ | 60,597 |  |  | $ | 51,844 |
Comprehensive Income |  | $ | 87,868 |  |  | $ | (159,188 | ) |  | $ | 39,107 |
STATEMENTS OF CASH FLOWS |  |  |  |  |  |  |  |  |
Years ended December 31, |  |  | 2023 |  |  |  | 2022 |  |  |  | 2021 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income |  | $ | 49,932 |  |  | $ | 60,597 |  |  | $ | 51,844 |
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |
Dividends in excess of net income (Equity in undistributed net income of subsidiaries) |  |  | (32,459 | ) |  |  | (26,731 | ) |  |  | (5,247 | )
Other |  |  | 5,481 |  |  |  | 559 |  |  |  | 6,846 |
Net cash from operating activities |  |  | 22,954 |  |  |  | 34,425 |  |  |  | 53,443 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Net cash paid in business combinations |  |  | (33,440 | ) |  |  | 0 |  |  |  | (29,618 | )
Net cash from investing activities |  |  | (33,440 | ) |  |  | 0 |  |  |  | (29,618 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from long term borrowings |  |  | 0 |  |  |  | 0 |  |  |  | 73,749 |
Repurchase of common shares |  |  | (11,544 | ) |  |  | 0 |  |  |  | (164 | )
Cash dividends paid |  |  | (25,396 | ) |  |  | (22,004 | ) |  |  | (14,072 | )
Net cash from financing activities |  |  | (36,940 | ) |  |  | (22,004 | ) |  |  | 59,513 |
Net change in cash and cash equivalents |  |  | (47,426 | ) |  |  | 12,421 |  |  |  | 83,338 |
Beginning cash and cash equivalents |  |  | 104,497 |  |  |  | 92,076 |  |  |  | 8,738 |
Ending cash and cash equivalents |  | $ | 57,071 |  |  | $ | 104,497 |  |  | $ | 92,076 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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