FMNB · CIK 0000709337
What Farmers National Banc Corp. told the SEC could break it.
Farmers National's defining exposure is geographic concentration: it operates from its Canfield, Ohio headquarters and 62 banking centers across northeast Ohio, with expansion into the Pittsburgh market, so its loans and deposits ride on those regional economies and a local downturn would disproportionately hit credit quality and funding. Its liquidity leans almost entirely on core deposits — about 93% of total deposits at year-end 2025 — and as a holding company it depends on dividends from Farmers Bank, which OCC and state rules limit without approval. Two further notes round out the register: heavy OCC/FDIC/Federal Reserve oversight with receivership and enforcement authority, and an indirect consumer-auto lending book of installment contracts bought from Northeastern Ohio dealers that carries elevated credit risk if the regional consumer economy weakens.
4 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Liquidity & debt
- reliance on core-deposit funding (93% of deposits) and holding-company dependence on regulated bank dividendsmedium
Farmers' primary liquidity source is its core deposit base — core deposits were ~93.0% of total deposits at year-end 2025 — and as a holding company it depends on dividends from Farmers Bank to pay its own dividends and service debt, which federal/state rules limit without regulatory (OCC) approval; deposit outflows or dividend restrictions could pressure liquidity.
“Core deposits – savings and money market accounts, time deposits less than $250,000 and demand deposits—comprised approximately 93.0% of total deposits at December 31, 2025 .”
SEC filing →As of 2026 - indirect consumer auto lending (installment contracts purchased from Northeastern Ohio dealers) carries elevated credit risklow
A portion of Farmers' lending involves purchasing consumer automobile installment sales contracts from auto dealers in Northeastern Ohio across a broad range of borrower creditworthiness; while these indirect-auto loans carry higher yields, they also expose the bank to increased credit risk if the regional consumer economy weakens.
“A portion of our current lending involves the purchase of consumer automobile installment sales contracts from automobile dealers located in Northeastern Ohio.”
Geographic concentration
- branches and loans concentrated in northeast Ohio and western Pennsylvania (Pittsburgh market)high
Farmers conducts business from its Canfield, Ohio headquarters and 62 banking centers plus loan production offices located in northeast Ohio (with expansion into the Pittsburgh, Pennsylvania market via the Emclaire acquisition and the March 2026 Middlefield merger), concentrating its loan and deposit base in those regional economies; a local downturn would disproportionately affect credit quality and funding.
“At December 31, 2025, the Company conducted its business from its main office at 30 South Broad Street, Canfield, Ohio and 62 full-service banking centers and 2 stand-alone loan production offices located in northeast Ohio.”
Regulatory & policy
- OCC/FDIC/Federal Reserve regulation — capital/dividend limits, receivership authority, Volcker Rule, BSA/AMLmedium
Farmers Bank is primarily regulated by the OCC (and FDIC), which governs permissible activities, capital, dividends, investments and loans, has extensive enforcement authority and can place the Bank into receivership; the company is also subject to Federal Reserve reserve requirements, the Volcker Rule's proprietary-trading limits, anti-money-laundering rules, and OCC dividend-approval thresholds.
“The OCC has extensive enforcement authority over Farmers Bank and may impose sanctions on Farmers Bank and, under certain circumstances, may place Farmers Bank into receivership.”
SEC filing →As of 2026
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