Farmers National Banc Corp. (FMNB) reported net income of $11.2 million, or $0.30 per share, for the first quarter compared to $7.1 million, or $0.19 per share, a year ago. Net income for the first quarter of 2024 included a pretax item of $2.1 million for the loss on the sale of investment securities. Excluding this, net income for the first quarter of 2024 was $12.9 million, or $0.34 per share. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.33, for the quarter. Analysts' estimates typically exclude special items.
Net interest income was $31.7 million compared to $36.6 million, last year. Noninterest income was $8.4 million compared to $10.4 million, prior year. Analysts on average had estimated $42.29 million in revenue.
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