Farmers National Banc closes $105m acquisition of Emclaire Financial
Farmers National Banc Corp., an Ohio-based bank holding company, has closed the previously announced $105 million acquisition of Emclaire Financial Corp., a Pennsylvania-based bank holding company.
The deal was announced by the bank holding companies in March 2022.
As per the terms of the deal, Emclaire Financial, which is the parent company of the Farmers National Bank of Emlenton (Emlenton Bank), merged into Farmers National Banc, which is the holding company for The Farmers National Bank of Canfield (Farmers National Bank).
Following the closing of the merger deal, Emlenton Bank has merged with and into Farmers National Bank. Shares of Emclaire Financial Corp. have been delisted from The NASDAQ Capital Market.
Farmers National Banc closes $105m acquisition of Emclaire Financial. Logo courtesy of Business Wire/Farmers National Banc Corp.
Kevin J. Helmick — Farmers National Banc Corp. President and CEO said: “I am excited to close our seventh acquisition in the last seven years and expand into the Pennsylvania markets, which has been a long-time strategy for Farmers.
“Additionally, we are thrilled to deliver our robust wealth management and mortgage services to the Emlenton footprint. On behalf of everyone at the Company, we are pleased to welcome the customers, employees, and shareholders of Emclaire to Farmers National Banc Corp.”
Farmers National Banc Corp. with the acquisition of Emclaire Financial Corp. has increased its banking assets to more than $5 billion, $2.9 billion plus in wealth management assets under care. The enlarged bank holding company operates 65 branches across Ohio and Pennsylvania.