FARMERS NATIONAL BANC CORP OH
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
FMNB$15.58-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Condensed Statements of Cash Flows (Unaudited)
| (In Thousands of Dollars) | ||
|---|---|---|
| Three Months Ended | ||
| March 31,2024 | March 31,2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $11,240 | $7,075 |
| Adjustments to reconcile net income to net cash from operating activities: | ||
| (Credit) provision for credit losses | (270) | 8,305 |
| (Credit) provision for unfunded loans | (179) | 294 |
| Depreciation and amortization | 1,611 | 1,899 |
| Net amortization of securities | 240 | 267 |
| Available for sale security losses (gains) | 2,134 | (120) |
| Realized gains on equity securities | (14) | (1) |
| Stock compensation expense | 662 | 615 |
| Earnings on bank owned life insurance | (624) | (547) |
| Income recognized from death benefit on bank owned life insurance | (83) | 0 |
| Origination of loans held for sale | (15,649) | (12,947) |
| Proceeds from loans held for sale | 16,209 | 14,016 |
| Net gains on sale of loans | (297) | (310) |
| Net change in other assets and liabilities | (1,817) | (4,679) |
| NET CASH FROM OPERATING ACTIVITIES | 13,163 | 13,867 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Proceeds from maturities and repayments of securities available for sale | 11,727 | 12,756 |
| Proceeds from sales of securities available for sale | 44,292 | 69,918 |
| Purchases of securities available for sale | (45,883) | (450) |
| Proceeds from sales of equity securities | 23 | 10 |
| Purchase of equity securities | (21) | (13) |
| Proceeds from maturities and repayments of SBIC funds | 146 | 166 |
| Purchases of SBIC funds | (521) | (671) |
| Proceeds from redemption of regulatory stock | 2,799 | 12,721 |
| Purchase of regulatory stock | (1,720) | (10,644) |
| Loan originations and payments, net | 15,977 | (6,496) |
| Proceeds from loans held for sale previously classified as portfolio loans | 1,594 | 0 |
| Proceeds from BOLI death benefit | 551 | 0 |
| Additions to premises and equipment | (1,553) | (171) |
| Net cash paid in business combinations | 0 | (13,175) |
| NET CASH FROM INVESTING ACTIVITIES | 27,411 | 63,951 |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Net change in deposits | 20,739 | (41,421) |
| Net change in short-term borrowings | (10,000) | 34,000 |
| Cash dividends paid | (6,341) | (6,403) |
| Repurchase of common shares | 0 | (11,544) |
| NET CASH FROM FINANCING ACTIVITIES | 4,398 | (25,368) |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | 44,972 | 52,450 |
| Beginning cash and cash equivalents | 103,658 | 75,551 |
| Ending cash and cash equivalents | $148,630 | $128,001 |
| Supplemental cash flow information: | ||
| Interest paid | $27,195 | $16,356 |
| Supplemental noncash disclosures: | ||
| Issuance of stock awards | $1,560 | $431 |
| Issuance of stock for business combinations | $0 | $59,202 |
| Lease liabilities arising from obtaining right-of-use assets | $0 | $1,289 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.