The holding companies of The Farmers National Bank of Canfield and Farmers National Bank of Emlenton recently announced the banks have agreed to merge.
Farmers National Banc Corp. is the holding company of The Farmers National Bank of Canfield. Headquartered in Canfield, Ohio, it holds $4.1 billion in banking assets. It has 47 locations in 10 Ohio and one Pennsylvania county.
Emclaire Financial Corp. is the holding company for Farmers National Bank of Emlenton and holds $1.1 billion in total assets. Headquartered in Emlenton and operating 19 full-service offices in Pennsylvania.
Emlenton Bank will be merged into Farmers Bank. Farmers Bank will be the surviving bank, and Emlenton Bank’s branches will become Farmers Bank branches.
Once completed, the merged banks will have approximately $5.2 billion in assets and 66 locations throughout Ohio and western Pennsylvania, according to Farmers estimates.
William Marsh, Emlenton Bank president and CEO and board chairman, will serve as Farmers senior vice president and market president for Pennsylvania.
Immediately after the merger, Farmers intends to name a director from Emclaire’s board to join its board of directors. It also will appoint an Emclaire nonemployee director to the Pennsylvania Region advisory board.
The deal is expected to close during the second half of the year.