CANFIELD, OH – Farmers National Banc Corp. (“Farmers” or the “Company”) (NASDAQ: FMNB), the holding company for The Farmers National Bank of Canfield (“Farmers National Bank”), recently announced that it completed the merger of Middlefield Banc Corp. (“Middlefield”) (formerly NASDAQ: MBCN), the holding company for The Middlefield Banking Company (“Middlefield Bank”), with and into Farmers (the “Merger”). Following the Merger, Middlefield Bank was merged with and into Farmers National Bank.
Brean Capital LLC’s FIG Investment Banking Team (formerly part of Janney Montgomery Scott’s Capital Markets Group), served as financial advisor to Farmers.
Kevin J. Helmick, President and CEO of Farmers, stated, “We are excited to complete this transaction and welcome Middlefield’s customers, employees and shareholders to Farmers. This marks our seventh bank acquisition in the last decade and reflects our proven track record of successfully executing and integrating strategic combinations.”
“The merger deepens our presence in Northeast Ohio, while meaningfully expanding our footprint across Central and Western Ohio, including the Columbus region, where we are making targeted investments in Ohio’s largest and fastest-growing market. This transaction creates a larger, more diversified franchise with enhanced scale, stronger customer relationships, and a solid foundation to drive sustainable growth and long-term shareholder value.”
Farmers, headquartered in Canfield, Ohio, now has over $7.4 billion in banking assets, over $4.7 billion in wealth management assets under care, and operates 83 branches throughout Ohio and Pennsylvania.
In connection with the Merger, Farmers also welcomes two members from Middlefield’s Board of Directors to Farmers’ Board of Directors, Mr. Kevin A. DiGeronimo and Mr. Michael C. Voinovich.
Mr. DiGeronimo is a principal at the DiGeronimo Companies, a trusted development and construction partner for hundreds of companies. Mr. DiGeronimo has worked on several high-profile development projects throughout Ohio and is a graduate of The Ohio State University. His experience in business management represents a valuable asset to the Farmers Board, allowing him to offer informed business insight and effective leadership expertise.
Mr. Voinovich is the Executive Vice President and Chief Investment Officer of ECHO Health, Inc., a provider of innovative payment processing services to healthcare and insurance industries. In this role, he oversees ECHO Health Inc.’s venture capital and corporate investment portfolios. Previously, Mr. Voinovich was an investment banker, representing financial institutions and their holding companies. Mr. Voinovich holds a Business Administration degree from John Carroll University. His experience in banking and the financial services industry allows him to provide significant corporate finance and transactional expertise to Farmers.
“Both Michael and Kevin have diverse backgrounds and business acumen that will be a great asset to our board and shareholders. We welcome them to our Board of Directors and look forward to working together,” Helmick stated.
Founded in 1887, Farmers National Banc Corp. is a diversified financial services company headquartered in Canfield, Ohio, with $5.2 billion in banking assets at December 31, 2025. Farmers National Banc Corp.’s wholly-owned subsidiaries are comprised of The Farmers National Bank of Canfield, a full-service national bank engaged in commercial and retail banking with, as of December 31, 2025, 62 banking locations in Mahoning, Trumbull, Columbiana, Portage, Stark, Wayne, Medina, Geauga and Cuyahoga Counties in Ohio and Beaver, Butler, Allegheny, Jefferson, Clarion, Venango, Clearfield, Mercer, Elk and Crawford Counties in Pennsylvania; and Farmers Trust Company, which operates trust offices and offers services in the same geographic markets. Total wealth management assets under care at December 31, 2025 were $4.7 billion. Farmers National Insurance, LLC, a wholly-owned subsidiary of The Farmers National Bank of Canfield, offers a variety of insurance products. For more information, visit: www.farmersbankgroup.com.
Brean Capital’s Investment Banking Group is dedicated to helping its clients achieve their strategic and financial goals. For more than 50 years, the Firm has specialized in providing capital raising, M&A and financial advisory services to middle market businesses. Throughout its history, Brean Capital has established a track record of providing its clients with deep market knowledge, commitment and experience to ensure a successful transaction. For more information, please visit: website.