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April 28 , 2021 Press Release Source : 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 : exec@farmersbankgroup.com FARMERS NATIONAL BANC CORP . ANNOUNCES 2021 FIRST QUARTER FINANCIAL RESULTS • Dedicated to assisting associates , customers and communities during the COVID - 19 crisis Exhibit 99.1 • • Record net income of $ 14.6 million for the quarter is 68 % higher than same quarter in 2020 Net interest income increased 13.3 % for the quarter compared to the same period a year ago as a result of higher interest income and lower interest expense Significant mortgage loan activity drives a 34 % quarterly increase , from the same period a year ago , in total noninterest income 153 consecutive quarters of profitability Return on average assets , annualized , was 1.87 % for the first quarter 32 % growth in customer non - brokered deposits in the current quarter compared to March 31 , 2020 CANFIELD , Ohio ( April 28 , 2021 ) - Farmers National Banc Corp. ( Farmers ) ( NASDAQ : FMNB ) today reported financial results for the three months ended March 31 , 2021 . Net income for the three months ended March 31 , 2021 was $ 14.6 million , or $ 0.51 per diluted share , which compares to $ 8.6 million , or $ 0.30 per diluted share , for the three months ended March 31 , 2020 and $ 11.4 million or $ 0.40 per diluted share for the linked quarter . Net income excluding acquisition costs ( non - GAAP ) for the quarter ended March 31 , 2021 was $ 14.6 million or $ 0.51 per share , compared to $ 9.7 million or $ 0.34 per share for the same quarter in 2020 and $ 12.8 million or $ 0.45 per share for the most recent prior quarter . Annualized return on average assets and annualized return on average equity were 1.87 % and 16.81 % , respectively , for the three month period ending March 31 , 2021 , compared to 1.32 % and 11.53 % for the same three month period in 2020 , and 1.49 % and 13.10 % for the linked quarter . Farmers ' annualized return on average tangible equity ( non - GAAP ) was 19.30 % for the quarter ended March 31 , 2021 compared to 13.81 % for the same quarter in 2020 and 15.48 % for the linked quarter . Kevin J. Helmick , President and CEO , stated , “ Our record first quarter financial results reflect the power of our diversified business model , our culture of strong asset quality , and our focus on providing our communities with local and individualized financial services . Record quarterly earnings are especially encouraging as we operate in the continuing uncertainty surrounding the economic impacts of the COVID - 19 pandemic . " " Our success is a direct result of our commitment to do what's right for our customers and I am thankful for the hard work and dedication of our colleagues who continually embody Farmers ' win - win spirit . While the COVID - 19 pandemic continues to impact many of our communities , our strong start to 2021 is encouraging and we believe we are well positioned for 2021 to be another good year for Farmers , ” concluded Mr. Helmick .