FMNB

174 consecutive quarters of profitability EPS was $0.39 for the quarter, $0.41 excluding acquisition and core conversion costs (non-GAAP) Non-performing loans declined $15.2 million, or 25.4%, during the quarter Commercial lending fundings accelerated significantly during the second quarter, with approximately $175.0 million in fundings, representing an 181% increase over the first quarter Unfunded commercial balances expanded by approximately $40.0 million, or 9%, since the end of March, reflecting continued growth in committed business and lending activity Net interest margin increased to 3.44% in the second quarter of 2026 from 3.12% in the first quarter of 2026 and 2.91% in the second quarter of 2025 Efficiency ratio was 55.6% in the second quarter of 2026, 53.2% excluding acquisition/core conversion costs (non-GAAP) CANFIELD, Ohio, July 22, 2026--(BUSINESS WIRE)--Farmers National Banc Corp. ("Farmers" or the "Company") (NASDAQ: FMNB) today reported net income of $23.0 million, or $0.39 per diluted share, for the second quarter of 2026 compared to $13.9 million, or $0.37 per diluted share, for the second quarter of 2025. Net income in the second quarter of 2026 included $1.7 million of expense related to the March 2, 2026 acquisition of Middlefield Banc Corp. (Middlefield) and core conversion costs. Excluding these items (non-GAAP), adjusted net income for the second quarter of 2026 was $24.4 million, or $0.41 per diluted share. Kevin J. Helmick, President and CEO, stated: "I am extremely pleased with the accelerated commercial fundings of $175 million in the second quarter as the team continues to focus on consistency in this area. We also made meaningful progress integrating the March 2026 Middlefield acquisition during the quarter and preparing for our core technology conversion, which remains on track for completion late in the third quarter. These initiatives are important components of our ongoing investment to build a stronger, more efficient and increasingly scalable community banking platform. As we bring our teams, systems and capabilities together, we believe we are strengthening the foundation of our business and enhancing our ability to serve customers across our growing Ohio and Pennsylvania markets." Balance Sheet Total assets were $7.14 billion at June 30, 2026, compared to $7.18 billion at March 31, 2026, and $5.25 billion at December 31, 2025. The increase since December was due to the Middlefield acquisition which added $1.82 billion in assets at the date of closing. Total loans, net of allowance, decreased to $4.72 billion at June 30, 2026, from $4.75 billion at March 31, 2026, and $3.27 billion at December 31, 2025. The increase since December was due to Middlefield which added $1.49 billion in total loans at the date of closing. The decline from March was due to heavier than expected commercial loan payoffs from the Middlefield portfolio and a decline in non-performing loans. The Company expects the payoffs to return to normal levels in the third quarter. Securities available for sale decreased slightly to $1.47 billion at June 30, 2026, compared to $1.48 billion at March 31, 2026, and $1.34 billion at December 31, 2025. Middlefield added $152.8 million to securities available for sale. The Company anticipates continued rate volatility in the bond market in 2026, which will continue to affect the value of the portfolio. Total deposits declined to $5.83 billion at June 30, 2026, compared to $5.92 billion at March 31, 2026, and $4.34 billion at December 31, 2025. The increase since December was primarily due to Middlefield, which added $1.49 billion in deposits at the time of closing. The decline since March was primarily due to seasonal factors associated with public funds and the purposeful shrinkage of certain non-core deposits acquired in the Middlefield transaction. Total stockholders’ equity increased to $784.0 million at June 30, 2026, from $766.9 million at March 31, 2026, and $485.7 million at December 31, 2025. The increase since December was primarily driven by the acquisition of Middlefield while the increase since March was primarily driven by earnings offset by dividends paid to shareholders. Credit Quality Non-performing loans declined to $44.6 million at June 30, 2026, from $59.9 million at March 31, 2026 and $26.2 million at December 31, 2025. The increase from December was due to the Middlefield acquisition while the decrease from March was due to strong workout efforts in the second quarter. Nonperforming loans to total loans were 0.93% at June 30, 2026, compared to 1.25% at March 31, 2026, and 0.79% at December 31, 2025. Loans 30-89 days delinquent were $18.9 million at June 30, 2026, or 0.40% of total loans, compared to $14.7 million at March 31, 2026, and $16.9 million at December 31, 2025. The provision for credit losses and unfunded commitments was $2.4 million in the second quarter of 2026 compared to a provision for credit losses of $3.5 million in the second quarter of 2025. Annualized net charge-offs as a percentage of average loans were 0.30% in the second quarter of 2026, compared to 0.07% in the second quarter of 2025. The increase in net charge-offs was associated with the resolution of non-performing loans, but most of the net charge-offs came from loans that carried specific reserves the cost of which had been recognized in prior periods. The allowance for credit losses to total loans was 1.12% at June 30, 2026, 1.14% at March 31, 2026, and 1.11% at December 31, 2025. Net Interest Income Net interest income increased to $56.0 million in the second quarter of 2026, compared to $34.9 million in the second quarter of 2025. Average interest earning assets increased to $6.63 billion in the second quarter of 2026 compared to $4.89 billion in the second quarter of 2025. The increase was primarily driven by the acquisition of Middlefield. Net interest margin improved to 3.44% in the second quarter of 2026 compared to 2.91% in the second quarter of 2025. The year-over-year increase in net interest margin was due to the acquisition and higher yields on earning assets and lower funding costs on interest bearing liabilities. In addition, the Company saw greater accretion of loan marks in the second quarter associated with the payoff of Middlefield loan balances mentioned earlier. The Company also recognized a $1.0 million prepayment penalty from the payoff of one of the Middlefield commercial loans. The Company expects the net interest margin to settle back into a range of approximately 3.34% to 3.37% in the third quarter of 2026. The yield on interest earning assets increased from 4.77% in the second quarter of 2025 to 5.25% in the second quarter of 2026, while the cost of interest-bearing liabilities declined from 2.49% in the second quarter of 2025 to 2.44% in the second quarter of 2026. Excluding acquisition marks, non-GAAP, the Company’s net interest margin was 3.28% in the second quarter of 2026, and 2.77% in the second quarter of 2025. Noninterest Income Noninterest income increased to $14.4 million in the second quarter of 2026 from $12.1 million in the second quarter of 2025. The increase was driven by the Middlefield acquisition and continued growth in the Company’s wealth lines of business. Service charge income was $2.4 million in the second quarter of 2026 compared to $1.7 million in the second quarter of 2025 primarily due to the acquisition. Bank owned life insurance income increased to $1.4 million in the second quarter of 2026 compared to $832,000 in the second quarter of 2025. Death claims were higher by $271,000 in 2026 compared to 2025 and the addition of Middlefield was primarily responsible for the difference. Trust fees were $3.1 million for the second quarter of 2026 up from $2.6 million in the second quarter of 2025 as continued growth in this business unit continued to drive revenue. Insurance commissions declined to $1.5 million in the second quarter of 2026 from $1.8 million in the second quarter of 2025. During the second quarter of 2025, the Company recognized $329,000 in revenue sharing associated with its BOLI purchase in the first quarter of 2025. Investment commissions totaled $1.0 million for the second quarter of 2026 compared to $721,000 for the second quarter of 2025. The increase was primarily due to the addition of Middlefield and the continued additions of investment representatives to the program. Debit card income increased to $2.6 million in the second quarter of 2026 from $2.0 million in the second quarter of 2025. The increase was driven by the Middlefield acquisition. Other noninterest income declined to $826,000 in the second quarter of 2026 compared to $1.2 million in the second quarter of 2025 primarily due to lower SBIC income in 2026. Noninterest Expense Noninterest expense increased to $40.9 million in the second quarter of 2026 from $27.2 million in the second quarter of 2025 primarily as a result of the Middlefield acquisition and the recognition of $1.7 million in acquisition and core conversion costs in the second quarter of 2026. Many of the categories of expense discussed below will begin to see a decline in the second half of the year after the Company completes its anticipated system conversion in August of 2026. Salaries and employee benefits increased to $21.3 million in the second quarter of 2026 from $14.7 million in the second quarter of 2025. The increase was primarily driven by annual raises and the Middlefield acquisition. Occupancy and equipment expenses increased to $5.9 million in the second quarter of 2026, an increase of $1.8 million from the second quarter of 2025, primarily as result of the acquisition. Professional fees increased to $1.4 million in the second quarter of 2026 from $1.0 million in the second quarter of 2025. The increase was primarily driven by the Middlefield acquisition. FDIC insurance and state and local taxes were $1.9 million in the second quarter of 2026 compared to $1.3 million in the second quarter of 2025. The increase was due to the acquisition and increased franchise tax from higher levels of capital year-over-year. Core processing expense increased to $2.3 million in the second quarter of 2026 compared to $1.4 million in the second quarter of 2025. The increase was due to the acquisition and a lower level of service credits in 2026. Other noninterest expense increased by $1.0 million to $4.5 million in the second quarter of 2026 primarily as a result of the acquisition and timing issues. Liquidity The Company had access to an additional $608.5 million in FHLB borrowing capacity at June 30, 2026, along with $415.3 million in available for sale securities that are available for pledging. The Company’s loan to deposit ratio was 81.9% at June 30, 2026. About Farmers National Banc Corp. Founded in 1887, Farmers National Banc Corp. is a diversified financial services company headquartered in Canfield, Ohio, with $7.1 billion in banking assets. Farmers National Banc Corp.’s wholly owned subsidiaries are comprised of The Farmers National Bank of Canfield, a full-service national bank engaged in commercial and retail banking with 83 banking locations in Ohio and western Pennsylvania, and Farmers Trust Company, which operates trust offices and offers services in the same geographic markets. Total wealth management assets under care at June 30, 2026, are $5.1 billion. Farmers National Insurance LLC, a wholly owned subsidiary of The Farmers National Bank of Canfield, offers a variety of insurance products. Non-GAAP Disclosure This press release includes disclosures of Farmers’ tangible common equity ratio, return on average tangible assets, return on average tangible equity, net income excluding costs related to acquisition activities and certain items, return on average assets excluding acquisition costs and certain items, return on average equity excluding acquisition costs and certain items, net interest margin excluding acquisition marks and related accretion and PPP interest and fees and efficiency ratio less certain items, which are financial measures not prepared in accordance with generally accepted accounting principles in the United States (GAAP). A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed by GAAP. Farmers believes that these non-GAAP financial measures provide both management and investors a more complete understanding of the underlying operational results and trends and Farmers’ marketplace performance. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with GAAP. The reconciliations of non-GAAP financial measures to their GAAP equivalents are included in the tables following Consolidated Financial Highlights below. Cautionary Statements Regarding Forward-Looking Statements We make statements in this news release and our related investor conference call, and we may from time to time make other statements, that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about Farmers’ financial condition, results of operations, asset quality trends and profitability. Forward-looking statements are not historical facts but instead represent only management’s current expectations and forecasts regarding future events, many of which, by their nature, are inherently uncertain and outside of Farmers’ control. Forward-looking statements are preceded by terms such as "expects," "believes," "anticipates," "intends" and similar expressions, as well as any statements related to future expectations of performance or conditional verbs, such as "will," "would," "should," "could" or "may." Farmers’ actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Factors that could cause Farmers’ actual results to differ materially from those described in certain forward-looking statements include significant changes in near-term local, regional, and U.S. economic conditions including those resulting from continued high rates of inflation, tightening monetary policy of the Board of Governors of the Federal Reserve, U.S. and foreign country tariff policies, and possibility of a recession; and the other factors contained in Farmers’ Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC) and available on Farmers’ website (www.farmersbankgroup.com) and on the SEC’s website (www.sec.gov). Forward-looking statements are not guarantees of future performance and should not be relied upon as representing management’s views as of any subsequent date. Farmers does not undertake any obligation to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20260721986843/en/ Contacts Farmers National Banc Corp.Kevin J. Helmick, President and CEO20 South Broad Street, P.O. Box 555Canfield, OH 44406330.533.3341Email: [email protected]

Farmers National Banc (FMNB) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +10.81%. A quarter ago, it was expected that this bank would post earnings of $0.37 per share when it actually produced earnings of $0.45, delivering a surprise of +21.62%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Farmers National, which belongs to the Zacks Banks - Midwest industry, posted revenues of $70.45 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.29%. This compares to year-ago revenues of $47.04 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Farmers National shares have added about 9.5% since the beginning of the year versus the S&P 500's gain of 9.7%. While Farmers National has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Farmers National was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.40 on $70.3 million in revenues for the coming quarter and $1.62 on $266.75 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Independent Bank (IBCP), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 23. This bank holding company is expected to post quarterly earnings of $0.85 per share in its upcoming report, which represents a year-over-year change of +4.9%. The consensus EPS estimate for the quarter has been revised 2.8% higher over the last 30 days to the current level. Independent Bank's revenues are expected to be $59.87 million, up 7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Farmers National Banc Corp. (FMNB) : Free Stock Analysis Report Independent Bank Corporation (IBCP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Farmers National Banc (FMNB) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +22.72%. A quarter ago, it was expected that this bank would post earnings of $0.47 per share when it actually produced earnings of $0.4, delivering a surprise of -14.89%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Farmers National, which belongs to the Zacks Banks - Midwest industry, posted revenues of $56.26 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 2.28%. This compares to year-ago revenues of $44.68 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Farmers National shares have added about 2.9% since the beginning of the year versus the S&P 500's gain of 3.2%. While Farmers National has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Farmers National was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.38 on $71.25 million in revenues for the coming quarter and $1.63 on $272.2 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Associated Banc-Corp (ASB), is yet to report results for the quarter ended March 2026. The results are expected to be released on April 23. This bank holding company is expected to post quarterly earnings of $0.69 per share in its upcoming report, which represents a year-over-year change of +17%. The consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level. Associated Banc-Corp's revenues are expected to be $385 million, up 10.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Farmers National Banc Corp. (FMNB) : Free Stock Analysis Report Associated Banc-Corp (ASB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

173 consecutive quarters of profitability Closed the acquisition of Middlefield Banc Corp. on March 2, 2026 EPS was $0.36 for the quarter, $0.45 excluding acquisition and core conversion costs (non-GAAP) Net interest margin increased to 3.12% in the first quarter of 2026 from 3.05% in the fourth quarter of 2025 and 2.85% in the first quarter of 2025 Return on average assets was 1.11% in the first quarter of 2026, 1.37% excluding acquisition/core conversion costs (non-GAAP) CANFIELD, Ohio, April 22, 2026--(BUSINESS WIRE)--Farmers National Banc Corp. ("Farmers" or the "Company") (NASDAQ: FMNB) reported net income of $16.3 million, or $0.36 per diluted share, for the first quarter of 2026 compared to $13.6 million, or $0.36 per diluted share, for the first quarter of 2025. Net income in the first quarter of 2026 included $4.0 million related to the acquisition of Middlefield Banc Corp. (Middlefield) and core conversion costs. Excluding these items (non-GAAP), adjusted net income for the first quarter of 2026 was $20.0 million, or $0.45 per diluted share. Kevin J. Helmick, President and CEO, stated: "Farmers is off to a solid start in 2026, highlighted by the successful completion of the Middlefield acquisition and continued strength across our core Ohio and Pennsylvania markets. We are focused on successfully integrating Middlefield into our operations and completing our core technology conversion, both of which are expected to be completed in the third quarter of 2026. In addition, we are well positioned to capitalize on our expanded presence in Columbus, Ohio, as a result of recent investments and the Middlefield acquisition. Combined, we believe these actions position Farmers for continued profitable growth and value creation." Balance Sheet Total assets increased to $7.18 billion at March 31, 2026, from $5.25 billion at December 31, 2025, primarily due to the Middlefield acquisition which added $1.82 billion in assets. Total loans, net of allowance, increased to $4.75 billion at March 31, 2026, from $3.27 billion at December 31, 2025. Middlefield added $1.49 billion in total loans at the date of closing. Securities available for sale increased to $1.48 billion at March 31, 2026, compared to $1.34 billion at December 31, 2025. Middlefield added $152.8 million to the total. The Company anticipates continued rate volatility in the bond market in 2026, which will continue to affect the value of the portfolio. Total deposits were $5.92 billion at March 31, 2026, an increase of $1.58 billion from December 31, 2025. The increase was primarily due to Middlefield, which added $1.49 billion in deposits, as well as seasonal growth in public funds. Total stockholders’ equity increased to $766.9 million at March 31, 2026, compared to $485.7 million at December 31, 2025. The increase was primarily driven by the acquisition of Middlefield. Credit Quality Non-performing loans increased from $26.2 million at December 31, 2025, to $59.9 million at March 31, 2026. The increase was due to the acquisition of Middlefield. Nonperforming loans to total loans were 1.25% at March 31, 2026 compared to 0.79% at December 31, 2025. The Company’s loans which were 30-89 days delinquent were $14.7 million at March 31, 2026, or 0.31% of total loans, compared to $16.9 million at December 31, 2025. The provision for credit losses and unfunded commitments was a recovery of $1.0 million in the first quarter of 2026 compared to a recovery of $204,000 in the first quarter of 2025. The provision in the first quarter of 2026 was positively impacted by improvements in qualitative factors in the Company’s CECL model. Annualized net charge-offs as a percentage of average loans were 0.05% in the first quarter of 2026, compared to 0.04% in the first quarter of 2025. The allowance for credit losses to total loans was 1.14% at March 31, 2026, compared to 1.11% at December 31, 2025. With the addition of Middlefield, the Company established a Day 1 allowance for credit losses of $19.3 million for the Middlefield loan balances. This was the primary reason for the increase in the allowance for loan losses to loans ratio in the first quarter. Net Interest Income Net interest income increased to $42.6 million in the first quarter of 2026, compared to $34.2 million in the first quarter of 2025. Average interest earning assets increased to $5.55 billion in the first quarter of 2026 compared to $4.89 billion in the first quarter of 2025. The increase was primarily driven by the acquisition of Middlefield. The net interest margin improved to 3.12% in the first quarter of 2026 compared to 2.85% in the first quarter of 2025. The year-over-year increase in net interest margin was due to the acquisition and higher yields on earning assets and lower funding costs on interest bearing liabilities. The Company expects the net interest margin to expand by approximately 25 basis points in the second quarter of 2026 as the full impact of the Middlefield acquisition is realized. The yield on interest earning assets increased from 4.74% in the first quarter of 2025 to 4.89% in the first quarter of 2026, while the cost of interest-bearing liabilities declined from 2.52% in the first quarter of 2025 to 2.35% in the first quarter of 2026. Excluding acquisition marks, non-GAAP, the Company’s net interest margin was 2.99% in the first quarter of 2026, and 2.67% in the first quarter of 2025. Noninterest Income Noninterest income increased to $13.7 million in the first quarter of 2026 from $10.5 million in the first quarter of 2025. The increase was driven by the Middlefield acquisition, growth in the wealth lines of business and lower losses on the sale of securities. Service charge income increased to $2.0 million in the first quarter of 2026 compared to $1.8 million in the first quarter of 2025 primarily due to the acquisition. Bank owned life insurance income was $1.5 million in the first quarter of 2026 compared to $810,000 in the first quarter of 2025. Death claims were higher by $416,000 in 2026 compared to 2025 and the addition of Middlefield was primarily responsible for the remaining difference. Trust fees increased to $3.0 million in the first quarter of 2026 from $2.6 million in the first quarter of 2025 as the Company continues to show excellent growth in this business unit. Losses on the sale of securities were $18,000 in the first quarter of 2026, down from a loss of $1.3 million in the first quarter of 2025. The Company restructured $23.8 million of securities at the end of the first quarter of 2025 resulting in the loss realized on the sale. Investment commissions increased $342,000 from the first quarter of 2025 to first quarter of 2026 as the Company continued to add investment representatives to the program. Other mortgage banking income was $477,000 in the first quarter of 2026 compared to $147,000 in the first quarter of 2025. This increase was primarily due to the Company recovering $303,000 of mortgage servicing rights impairment in the first quarter of 2026. Other noninterest income declined to $898,000 in the first quarter of 2026 compared to $1.2 million in the first quarter of 2025 primarily due to lower SBIC income in 2026. Noninterest Expense Noninterest expense increased to $37.3 million in the first quarter of 2026 from $28.5 million in the first quarter of 2025 primarily as a result of the Middlefield acquisition and the recognition of $4.0 million in acquisition and core conversion costs in the first quarter of 2026. Salaries and employee benefits increased to $18.5 million in the first quarter of 2026 from $16.2 million in the first quarter of 2025. The increase was primarily driven by annual raises and the acquisition. Occupancy and equipment expense increased by $988,000 in the first quarter of 2026 from the first quarter of 2025 primarily as a result of the acquisition and higher building maintenance costs due to more severe winter weather conditions. FDIC insurance and state and local taxes were $1.6 million in the quarter ended March 31, 2026, an increase of $341,000 from the quarter ending March 31, 2025 due to the acquisition and increased franchise tax due to higher levels of capital year-over-year. Core processing expense increased to $1.8 million in the first quarter of 2026 compared to $1.4 million in the first quarter of 2025. The increase was due to the acquisition and a lower level of service credits in 2026. Other noninterest expense increased by $650,000 to $3.8 million in the first quarter of 2026 primarily as a result of the acquisition and timing issues. Liquidity The Company had access to an additional $788.9 million in FHLB borrowing capacity at March 31, 2026, along with $446.6 million in available for sale securities that are available for pledging. The Company’s loan to deposit ratio was 81.1% at March 31, 2026. About Farmers National Banc Corp. Founded in 1887, Farmers National Banc Corp. is a diversified financial services company headquartered in Canfield, Ohio, with $7.2 billion in banking assets. Farmers National Banc Corp.’s wholly-owned subsidiaries are comprised of The Farmers National Bank of Canfield, a full-service national bank engaged in commercial and retail banking with 83 banking locations in Ohio and western Pennsylvania, and Farmers Trust Company, which operates trust offices and offers services in the same geographic markets. Total wealth management assets under care at March 31, 2026 are $4.9 billion. Farmers National Insurance, LLC, a wholly-owned subsidiary of The Farmers National Bank of Canfield, offers a variety of insurance products. Non-GAAP Disclosure This press release includes disclosures of Farmers’ tangible common equity ratio, return on average tangible assets, return on average tangible equity, net income excluding costs related to acquisition activities and certain items, return on average assets excluding acquisition costs and certain items, return on average equity excluding acquisition costs and certain items, net interest margin excluding acquisition marks and related accretion and PPP interest and fees and efficiency ratio less certain items, which are financial measures not prepared in accordance with generally accepted accounting principles in the United States (GAAP). A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed by GAAP. Farmers believes that these non-GAAP financial measures provide both management and investors a more complete understanding of the underlying operational results and trends and Farmers’ marketplace performance. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with GAAP. The reconciliations of non-GAAP financial measures to their GAAP equivalents are included in the tables following Consolidated Financial Highlights below. Cautionary Statements Regarding Forward-Looking Statements We make statements in this news release and our related investor conference call, and we may from time to time make other statements, that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about Farmers’ financial condition, results of operations, asset quality trends and profitability. Forward-looking statements are not historical facts but instead represent only management’s current expectations and forecasts regarding future events, many of which, by their nature, are inherently uncertain and outside of Farmers’ control. Forward-looking statements are preceded by terms such as "expects," "believes," "anticipates," "intends" and similar expressions, as well as any statements related to future expectations of performance or conditional verbs, such as "will," "would," "should," "could" or "may." Farmers’ actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Factors that could cause Farmers’ actual results to differ materially from those described in certain forward-looking statements include significant changes in near-term local, regional, and U.S. economic conditions including those resulting from continued high rates of inflation, tightening monetary policy of the Board of Governors of the Federal Reserve, U.S. and foreign country tariff policies, and possibility of a recession; and the other factors contained in Farmers’ Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC) and available on Farmers’ website (www.farmersbankgroup.com) and on the SEC’s website (www.sec.gov). Forward-looking statements are not guarantees of future performance and should not be relied upon as representing management’s views as of any subsequent date. Farmers does not undertake any obligation to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20260420163249/en/ Contacts Farmers National Banc Corp. Kevin J. Helmick, President and CEO 20 South Broad Street, P.O. Box 555 Canfield, OH 44406 330.533.3341 Email: [email protected]

For the quarter ended March 2026, Farmers National Banc (FMNB) reported revenue of $56.26 million, up 25.9% over the same period last year. EPS came in at $0.45, compared to $0.39 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $55 million, representing a surprise of +2.28%. The company delivered an EPS surprise of +22.72%, with the consensus EPS estimate being $0.37. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Farmers National performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Efficiency Ratio: 64% versus the three-analyst average estimate of 59.8%. Average Earning Assets [$M]: $5.55 billion versus $5.29 billion estimated by three analysts on average. Net Interest Margin: 3.1% versus the three-analyst average estimate of 3.2%. NCOs/ Average Loans: 0.1% versus the two-analyst average estimate of 0.1%. Total Noninterest Income: $13.69 million compared to the $12.73 million average estimate based on three analysts. Service charges on deposit accounts: $1.97 million compared to the $2.08 million average estimate based on two analysts. Net Interest Income ( tax-equivalent ): $43.3 million versus the two-analyst average estimate of $41.98 million. Retirement plan consulting fees: $0.89 million compared to the $1.02 million average estimate based on two analysts. Net Interest Income: $42.57 million versus $42.42 million estimated by two analysts on average. Trust fees: $3.03 million versus $2.93 million estimated by two analysts on average. View all Key Company Metrics for Farmers National here>>> Shares of Farmers National have returned +6.8% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Farmers National Banc Corp. (FMNB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

MIDDLEFIELD, Ohio, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ: MBCN) today reported financial results for the twelve months ended December 31, 2025. Ronald L. Zimmerly, Jr., President and Chief Executive Officer, stated, “2025 was a strong year of operating and financial growth for Middlefield, driven by consistent execution and continued momentum across the Bank. We are pleased with the progress we’ve made and are focused on completing our merger with Farmers National Banc Corp., which we expect to close in the first quarter of 2026. We believe this combination will create meaningful opportunities for our customers, employees, and shareholders.” Income Statement Net interest income for the twelve months ended December 31, 2025, increased $7.8 million to $68.5 million, compared to $60.7 million for the same period last year. The net interest margin for the twelve months ended December 31, 2025, was 3.80%, compared to 3.52% last year. Net interest income for the 2025 fourth quarter increased $1.8 to $17.4 million, compared to $15.6 million for the 2024 fourth quarter. The net interest margin for the 2025 fourth quarter was 3.80%, compared to 3.56% for the same period of 2024. For the twelve months ended December 31, 2025, noninterest income increased $2.1 to $9.3 million, compared to $7.2 million for the same period in 2024. Noninterest income for the 2025 fourth quarter was $2.0 million, compared to $1.9 million for the same period the previous year. Noninterest expense for the twelve months ended December 31, 2025, was $54.8 million, compared to $47.5 million for the same period in 2024. For the 2025 fourth quarter, noninterest expense was $15.9 million, compared to $11.8 million for the 2024 fourth quarter. Noninterest expense was negatively impacted in the fourth quarter of 2025 by $1.8 million of merger-related expenses and the accelerated vesting of certain performance share units as communicated in a Form 8-K filed by the Company on December 8, 2025. Net income for the twelve months ended December 31, 2025, was $19.4 million, or $2.39 per diluted share, compared to $15.5 million, or $1.92 per diluted share, for the same period last year. Net income for the 2025 fourth quarter was $3.1 million, or $0.38 per diluted share, compared to $4.8 million, or $0.60 per diluted share, for the same period last year. For the twelve months ended December 31, 2025, pre-tax, pre-provision net income was $23.0 million, compared to $20.4 million last year. For the 2025 fourth quarter, pre-tax, pre-provision net income was $3.5 million, compared to $5.7 million for the same period of 2024. (See non-GAAP reconciliation under the section “GAAP to Non-GAAP Reconciliations”.) Balance Sheet Total assets at December 31, 2025, increased 2.7% to $1.90 billion, compared to $1.85 billion at December 31, 2024. Total loans at December 31, 2025, were $1.59 billion, compared to $1.52 billion at December 31, 2024. The 4.3% year-over-year increase in total loans was primarily due to originations within the owner occupied and commercial and industrial loan segments as well as home equity lines of credit, offset by a decrease in the non-owner occupied loan segment. The investment securities available-for-sale portfolio was $155.5 million at December 31, 2025, compared with $165.8 million at December 31, 2024. Total liabilities at December 31, 2025, increased 1.8% to $1.67 billion, compared to $1.64 billion at December 31, 2024. Total deposits at December 31, 2025, were $1.47 billion, compared to $1.45 billion at December 31, 2024. The 1.8% year-over-year increase in deposits was primarily due to growth in money market accounts, partially offset by declines in time deposits and savings accounts. Noninterest-bearing demand deposits were 25.5% of total deposits at December 31, 2025, compared to 26.1% at December 31, 2024. At December 31, 2025, the Company had brokered deposits of $23.1 million, compared to $35.1 million at December 31, 2024. Middlefield's CRE portfolio included the following categories at December 31, 2025: Stockholders' Equity and Dividends At December 31, 2025, stockholders' equity was $229.6 million, compared to $210.6 million at December 31, 2024. The 9.1% year-over-year increase in stockholders' equity was primarily from higher retained earnings and a decrease in the unrealized loss on the available-for-sale investment portfolio. On a per-share basis, shareholders' equity at December 31, 2025, was $28.26, compared to $26.08 at December 31, 2024. At December 31, 2025, tangible stockholders' equity(1) was $188.7 million, compared to $168.6 million at December 31, 2024. On a per-share basis, tangible stockholders' equity(1) was $23.22 at December 31, 2025, compared to $20.88 at December 31, 2024. (1)See non-GAAP reconciliation under the section “GAAP to Non-GAAP Reconciliations”. For the twelve months ended December 31, 2025, the Company declared cash dividends of $0.84 per share, totaling $6.8 million. For the twelve months ended December 31, 2024, the Company declared cash dividends of $0.80 per share, totaling $6.5 million. The Company did not repurchase any common stock during 2025. For the twelve months ended December 31, 2024, the Company repurchased 43,858 shares of its common stock, at an average price of $24.00 per share. At December 31, 2025, the Company's equity-to-assets ratio was 12.07%, compared to 11.36% at December 31, 2024. Asset Quality For the twelve months ended December 31, 2025, the Company recorded a recovery of credit losses of $494,000 million, versus a provision for credit losses of $2.0 million for the same period last year. For the 2025 fourth quarter, the Company recorded a recovery of credit losses of $475,000, compared to a recovery of credit losses of $177,000 for the same period of 2024. Net charge-offs were $481,000 million, or (0.03%) of average loans, for the twelve months ended December 31, 2025, compared to net recoveries of $1.4, or 0.10% of average loans, for the same period last year. Net charge-offs were $148,000, or (0.04%) of average loans, annualized, for the 2025 fourth quarter, compared to net recoveries of $151,000, or 0.04% of average loans, annualized, for the same period of 2024. The higher net charge-offs were due to the partial charge-off of one loan during the 2025 third quarter. Nonperforming assets at December 31, 2025, which consisted of nonperforming loans, were $17.0 million, compared to $30.0 million at December 31, 2024. The decrease in nonperforming assets is primarily the result of a $13.5 million loan moved to nonaccrual in the 2024 third quarter paying off in the fourth quarter of 2025. The allowance for credit losses at December 31, 2025, stood at $22.7 million, or 1.43% of total loans, compared to $22.4 million, or 1.48% of total loans at December 31, 2024. The increase in the allowance for credit losses was mainly from an overall increase in total loans as well as changes in projected loss drivers, prepayment assumptions, curtailment expectations over the reasonable and supportable forecast period, and geographic footprint of unemployment data. About Middlefield Banc Corp. Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the Bank holding Company of The Middlefield Banking Company, with total assets of $1.90 billion at December 31, 2025. The Bank operates 21 full-service banking centers and an LPL Financial® brokerage office serving Ada, Beachwood, Bellefontaine, Chardon, Cortland, Dublin, Garrettsville, Kenton, Mantua, Marysville, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio. Additional information is available at www.middlefieldbank.bank. NON-GAAP FINANCIAL MEASURES This press release includes disclosure of Middlefield Banc Corp.'s tangible book value per share, return on average tangible equity, and pre-tax, pre-provision for loan losses income, which are financial measures not prepared in accordance with generally accepted accounting principles in the United States (GAAP). A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts required to be disclosed by GAAP. Middlefield Banc Corp. believes that these non-GAAP financial measures provide both management and investors a more complete understanding of the underlying operational results and trends and Middlefield Banc Corp.'s marketplace performance. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with GAAP. The reconciliations of non-GAAP financial measures are included in the following Consolidated Financial Highlights tables below. FORWARD-LOOKING STATEMENTS This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are several important factors that could cause Middlefield Banc Corp.'s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.'s financial operations or customers; (7) changes in the securities markets; or (8) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release. MIDDLEFIELD BANC CORP. Consolidated Selected Financial Highlights (Dollar amounts in thousands, unaudited) MIDDLEFIELD BANC CORP. Consolidated Selected Financial Highlights (Dollar amounts in thousands, unaudited) (1) See section “GAAP to Non-GAAP Reconciliations” for the reconciliation of GAAP performance measures to non-GAAP measures. MIDDLEFIELD BANC CORP. Consolidated Selected Financial Highlights (Dollar amounts in thousands, except per share and share amounts, unaudited) (1) See section “GAAP to Non-GAAP Reconciliations” for the reconciliation of GAAP performance measures to non-GAAP measures. (2) Calculated by dividing tangible common equity by shares outstanding. (3) Calculated by dividing annualized net income for each period by average tangible common equity. (4) The efficiency ratio is calculated by dividing noninterest expense less amortization of intangibles by the sum of net interest income on a fully taxable equivalent basis plus noninterest income. (1) Tax-equivalent adjustments to calculate the yield on tax-exempt securities and loans were determined using an effective tax rate of 21%. (2) Yield is calculated on the basis of amortized cost. (3) Net interest margin represents net interest income as a percentage of average interest-earning assets. (1) Nonperforming assets consist of nonperforming loans. MIDDLEFIELD BANC CORP. GAAP to Non-GAAP Reconciliations (Dollar amounts in thousands, unaudited) MIDDLEFIELD BANC CORP. Average Balance Sheets (Dollar amounts in thousands, unaudited) (1) Tax-equivalent adjustments to calculate the yield on tax-exempt securities and loans were $270 and $280 for the three months ended December 31, 2025 and 2024, respectively. (2) Yield is calculated on the basis of amortized cost. (3) Includes dividends received on restricted stock. (4) Interest rate spread represents the difference between the average yield on interest-earning assets and the average cost of interest-bearing liabilities. (5) Net interest margin represents net interest income as a percentage of average interest-earning assets. (1) Tax-equivalent adjustments to calculate the yield on tax-exempt securities and loans were $270 and $271 for the three months ended December 31, 2025 and September 30, 2025 respectively. (2) Yield is calculated on the basis of amortized cost. (3) Includes dividends received on restricted stock. (4) Interest rate spread represents the difference between the average yield on interest-earning assets and the average cost of interest-bearing liabilities. (5) Net interest margin represents net interest income as a percentage of average interest-earning assets. (1) Tax-equivalent adjustments to calculate the yield on tax-exempt securities and loans were $1,080 and $1,131 for the twelve months ended December 31, 2025 and 2024, respectively. (2) Yield is calculated on the basis of amortized cost. (3) Includes dividends received on restricted stock. (4) Interest rate spread represents the difference between the average yield on interest-earning assets and the average cost of interest-bearing liabilities. (5) Net interest margin represents net interest income as a percentage of average interest-earning assets.