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Note 11 - Subsequent Event
9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Subsequent Events [Text Block]

NOTE 11 - SUBSEQUENT EVENT

 

Farmers National Banc Corp ("Farmers") and the Company have entered into an Agreement and Plan of Merger (the "Agreement") dated as of October 22, 2025, which provides for the merger of the Company with and into Farmers (the "Merger"). The merger transaction is subject to certain conditions, including, but not limited to, receipt of Farmers and Company shareholders approvals and the approval of the Merger by various regulatory agencies. 

 

Under the terms of the Agreement, each share of Company common stock immediately prior to completion of the Merger will be converted into the right to receive 2.6 shares of Farmers common stock. The merger consideration will be received from Farmers at the effective time of the Merger.  On October 22, 2025, the date of execution of the Agreement, the closing price of Farmers common stock was $13.28 per share. On November

12
, 2025, the closing price of Farmers common stock was $
13.37
 per share.  The value of Farmers common stock at the time of completion of the Merger could be greater than, less than, or the same as the value of Farmers common stock on the date of this Form 10-Q. The Merger is expected to close by the end of the first quarter of 2026.