Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2020

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,	2020		2019
BALANCE SHEETS
Assets:
Cash	$	8,738	$	25,471
Investment in subsidiaries
Bank		336,326		259,628
Farmers Trust		13,414		13,106
Captive		2,165		2,186
Equity securities		358		432
Other		0		1,273
TOTAL ASSETS	$	361,001	$	302,096
Liabilities:
Other liabilities	$	1,149	$	131
Note payable		350		350
Subordinate debt		9,405		2,306
TOTAL LIABILITIES		10,904		2,787
TOTAL STOCKHOLDERS' EQUITY		350,097		299,309
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	361,001	$	302,096

STATEMENTS OF INCOME
Years ended December 31,	2020			2019			2018
Income:
Dividends from subsidiaries
Bank	$	28,646		$	33,896		$	7,864
Farmers Trust		2,300			2,300			1,900
Captive Insurance		1,000			535			850
Interest and dividends on securities		12			15			8
Security gains/(losses)		(28	)		41			(20	)
TOTAL INCOME		31,930			36,787			10,602
Interest on borrowings		(361	)		(154	)		(133	)
Other expenses		(2,746	)		(2,352	)		(2,087	)
Income before income tax benefit and undistributed    subsidiary income		28,823			34,281			8,382
Income tax benefit		592			470			450
Equity in undistributed net income of subsidiaries    (dividends in excess of net income)
Bank		12,244			508			23,687
Farmers Trust		237			(31	)		(20	)
Captive		(20	)		532			70
NET INCOME	$	41,876		$	35,760		$	32,569

STATEMENTS OF CASH FLOWS
Years ended December 31,	2020			2019			2018
Cash flows from operating activities:
Net income	$	41,876		$	35,760		$	32,569
Adjustments to reconcile net income to net cash from    operating activities:
Dividends in excess of net income (Equity in    undistributed net income of subsidiary)		(12,461	)		(1,009	)		(23,737	)
Other		1,167			(30	)		1
NET CASH FROM OPERATING ACTIVITIES		30,582			34,721			8,833
Cash flows from investing activities:
Net cash paid in business combinations		(20,423	)		0			0
NET CASH FROM INVESTING ACTIVITIES		(20,423	)		0			0
Cash flows from financing activities:
Repurchase of common shares		(14,238	)		(2,842	)		0
Cash dividends paid		(12,654	)		(10,539	)		(8,316	)
NET CASH FROM FINANCING ACTIVITIES		(26,892	)		(13,381	)		(8,316	)
NET CHANGE IN CASH AND CASH EQUIVALENTS		(16,733	)		21,340			517
Beginning cash and cash equivalents		25,471			4,131			3,614
Ending cash and cash equivalents	$	8,738		$	25,471		$	4,131