Business & Finance
Thu, February 3, 2011Wed, February 2, 2011Tue, February 1, 2011Mon, January 31, 2011Sun, January 30, 2011Sat, January 29, 2011Fri, January 28, 2011Thu, January 27, 2011Wed, January 26, 2011Tue, January 25, 2011Farmers National Banc Corp. Announces Completion of Rights Offering and Public Offering
Published in Business and Finance on Monday, January 31st 2011 at 13:15 GMT by Market Wire
CANFIELD, Ohio--([ BUSINESS WIRE ])--Farmers National Banc Corp. (aFarmersa) (OTCBB: FMNB), the holding company for The Farmers National Bank of Canfield, Ohio, announced that it had completed the sale of 4,111,451 common shares in its rights offering and sale to standby investors, and also had completed the sale of 888,549 common shares in a abest effortsa public offering through Sandler Oa™Neill + Partners, L.P., for a total of 5,000,000 common shares. The common shares in the offerings were all sold at a price of $3.00 per share, representing gross proceeds to Farmers of $15.0 million.
"We are extremely pleased to complete these equity offerings. The proceeds of these offerings will enable the company to continue pursuing its program of controlled growth. We would like to thank our shareholders for their vote of confidence and continued support of the company and welcome our new shareholders."
John S. Gulas, President and Chief Executive Officer of Farmers, commented aWe are extremely pleased to complete these equity offerings. The proceeds of these offerings will enable the company to continue pursuing its program of controlled growth. We would like to thank our shareholders for their vote of confidence and continued support of the company and welcome our new shareholders.a
About Farmers National Banc Corp.
Farmers National Banc Corp. is the bank holding company for the Farmers National Bank of Canfield, Farmers National Insurance, LLC and Farmers Trust Company. Farmersa™ operates sixteen banking offices throughout Mahoning, Trumbull and Columbiana Counties and two trust offices located in Youngstown and Howland. Farmers National Bank of Canfield offers a wide range of banking and investment services to companies and individuals, and maintains a website at [ www.farmersbankgroup.com ].
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts but instead represent only managementa™s current expectations and forecasts regarding future events, many of which, by their nature, are inherently uncertain and outside of Farmersa™ control. Farmers believes that the expectations represented by its forward looking statements are reasonable, yet there can be no assurance that such expectations will prove to be correct. Furthermore, unless otherwise stated, the forward looking statements contained in this press release are made as of the date of the press release, and Farmers does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise unless required by applicable laws or regulations. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Readers are cautioned that these forward-looking statements involve certain risks and uncertainties, including those contained in Farmersa™ filings with the Securities and Exchange Commission; such as the Annual Report on Form 10-K for the fiscal year ended December 31, 2009, the Quarterly Reports on Form 10-Q filed during the fiscal year ending December 31, 2010 and the prospectus for the Public Offering.
