<p><strong>农民国民银行</strong>(FMNB 1.38%) 是一家在俄亥俄州和宾夕法尼亚州运营的社区银行公司，提供广泛的银行、保险和财富管理服务。该公司报告每股收益为 0.37 美元，略高于 0.365 美元的市场共识预期，而资产质量指标显示商业房地产贷款组合出现了一些恶化。总体评估突出了盈利能力指标和效率的改善，但指出在高度竞争的市场中，信贷质量和存款管理仍面临挑战。</p>
<table>
<thead>
<tr>
<th>指标</th>
<th>2025 年第二季度</th>
<th>2025 年第二季度预估</th>
<th>2024 年第二季度</th>
<th>同比变化</th>
</tr>
</thead>
<tbody>
<tr>
<td>每股收益</td>
<td>$0.37</td>
<td>$0.36</td>
<td>$0.31</td>
<td>19.4%</td>
</tr>
<tr>
<td>净利息收入</td>
<td>$1391 万美元</td>
<td></td>
<td>$1178 万美元</td>
<td>18.1%</td>
</tr>
<tr>
<td>净利息利润率</td>
<td>2.91%</td>
<td></td>
<td>2.71%</td>
<td>20 个基点</td>
</tr>
<tr>
<td>效率比率</td>
<td>56.7%</td>
<td></td>
<td>60.8%</td>
<td>(4.1 个百分点)</td>
</tr>
<tr>
<td>净贷款占资产比</td>
<td>63.1%</td>
<td></td>
<td>62.1%</td>
<td>1.0 个百分点</td>
</tr>
</tbody>
</table>
<p>来源：农民国民银行。注：本季度分析师预估由 FactSet 提供。</p>
<h2>关于农民国民银行及其关注领域</h2>
<p>农民国民银行是一家多元化的社区金融服务公司，提供银行、信托、保险和投资产品。它通过在俄亥俄州和宾夕法尼亚州西部的分支机构和服务办公室网络运营，服务于零售和商业客户。该银行的业务包括商业和消费者贷款、存款服务、财富管理以及通过各种子公司提供的保险服务。</p>
<p>近年来，该公司通过并购追求增长，最显著的是与 Emclaire Financial Corp.的 2023 年合并。这扩大了其在宾夕法尼亚州的分支机构数量。公司的成功因素集中在通过高效运营、监管资本实力和扩展服务产品保持竞争优势。它旨在通过增加利息和非利息收入来源以及管理费用水平，在拥挤的区域银行市场中实现稳定。</p>
<h2>季度亮点和财务发展</h2>
<p>该期间显示出适度的每股收益超出预期，GAAP 净收入较 2024 年第二季度增长 18.1%。运营结果受益于净利息收入的增加，同比增长 8.4%（GAAP），反映了贷款增长和净利息利润率的改善。</p>
<p>净利息利润率，即在考虑资金成本后衡量银行贷款活动盈利能力的指标，升至 2.91%。这得益于资金成本下降和资产收益率上升，因为美联储在 2024 年 9 月开始降低利率。非利息收入较 2024 年第二季度增长 26.2%，主要受到保险和退休顾问业务贡献的推动。</p>
<p>效率比率改善至 56.7%，低于 2024 年第二季度的 60.8%。由于年度加薪、收购 Crest Retirement 和更高的佣金支出，费用增长仅为 3.0%，而医疗和法律费用则有所降低。</p>
<p>信贷质量下降，非表现贷款——借款人未按计划还款的贷款——占总贷款组合的比例从 2024 年第二季度的 0.40% 上升至 0.84%。这一变化主要反映了两大商业房地产关系转为不计息状态。信贷损失准备金（GAAP）上升至贷款的 1.17%，高于 2024 年第二季度的 1.05%。信贷损失准备金是为覆盖潜在未来贷款损失而预留的费用，较 2024 年第二季度增长至 350 万美元（GAAP），是其三倍。截至 2025 年第一季度，该公司保持了 169 个连续盈利季度的记录。它宣布每股现金分红为 0.17 美元，与近期水平持平。</p>
<p>财富管理服务，包括信托管理和退休计划咨询，截至 2025 年第二季度，管理资产增加至 44 亿美元。保险佣金同比增长 45.8%，显示出继续强调拓宽非利息收入来源。本期没有完成新的收购。</p>
<h2>展望未来</h2>
<p>管理层表示预计 2025 年净利息利润率将进一步扩大。然而，增长的幅度将取决于美联储的进一步利率政策调整和整体资金成本。本次发布中未提供明确的收益或收入的定量指导。</p>
<p>投资者将希望在未来几个季度关注公司的资产质量，特别是其商业房地产贷款组合的发展。存款基础变化、非利息收入增长以及运营效率的进一步改善也将是重要的跟踪点。季度分红维持在每股 0.17 美元，继续保持该银行定期分红的记录。</p>
<p><em>收入和净收入按美国公认会计原则（GAAP）呈现，除非另有说明。</em></p>

农民国民银行公司

<p>农民国民银行公司报告第二季度每股收益为 0.37 美元，超出预期的 0.365 美元，净利息收入上升至 1391 万美元。效率比率改善至 56.7%，但信贷质量有所下降，不良贷款增加至 0.84%。该公司维持每股 0.17 美元的季度分红，并预计在 2025 年净利息差将进一步扩大，前提是美联储的利率政策。投资者应关注未来几个季度的资产质量和运营效率</p>

<p><strong>Farmers National Banc</strong>(FMNB 1.38%) is a community banking company operating in Ohio and Pennsylvania, offering a broad range of banking, insurance, and wealth management services. The company reported earnings per share of $0.37, just ahead of the $0.365 consensus estimate, while asset quality metrics showed some deterioration in the commercial real estate loan portfolio. The overall assessment highlights improved profitability metrics and efficiency, but notes lingering challenges in credit quality and deposit management within a highly competitive market.</p>
<div class="lb-trans"><p><strong>农民国民银行</strong>(FMNB 1.38%) 是一家在俄亥俄州和宾夕法尼亚州运营的社区银行公司，提供广泛的银行、保险和财富管理服务。该公司报告每股收益为 0.37 美元，略高于 0.365 美元的市场共识预期，而资产质量指标显示商业房地产贷款组合出现了一些恶化。总体评估突出了盈利能力指标和效率的改善，但指出在高度竞争的市场中，信贷质量和存款管理仍面临挑战。</p>
</div><table>
<thead>
<tr>
<th>Metric</th>
<th>Q2 2025</th>
<th>Q2 2025 Estimate</th>
<th>Q2 2024</th>
<th>Y/Y Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS</td>
<td>$0.37</td>
<td>$0.36</td>
<td>$0.31</td>
<td>19.4%</td>
</tr>
<tr>
<td>Net interest income</td>
<td>$13.91 million</td>
<td></td>
<td>$11.78 million</td>
<td>18.1%</td>
</tr>
<tr>
<td>Net interest margin</td>
<td>2.91%</td>
<td></td>
<td>2.71%</td>
<td>20 bps</td>
</tr>
<tr>
<td>Efficiency ratio</td>
<td>56.7%</td>
<td></td>
<td>60.8%</td>
<td>(4.1 pp)</td>
</tr>
<tr>
<td>Net loans to assets</td>
<td>63.1%</td>
<td></td>
<td>62.1%</td>
<td>1.0 pp</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th>指标</th>
<th>2025 年第二季度</th>
<th>2025 年第二季度预估</th>
<th>2024 年第二季度</th>
<th>同比变化</th>
</tr>
</thead>
<tbody>
<tr>
<td>每股收益</td>
<td>$0.37</td>
<td>$0.36</td>
<td>$0.31</td>
<td>19.4%</td>
</tr>
<tr>
<td>净利息收入</td>
<td>$1391 万美元</td>
<td></td>
<td>$1178 万美元</td>
<td>18.1%</td>
</tr>
<tr>
<td>净利息利润率</td>
<td>2.91%</td>
<td></td>
<td>2.71%</td>
<td>20 个基点</td>
</tr>
<tr>
<td>效率比率</td>
<td>56.7%</td>
<td></td>
<td>60.8%</td>
<td>(4.1 个百分点)</td>
</tr>
<tr>
<td>净贷款占资产比</td>
<td>63.1%</td>
<td></td>
<td>62.1%</td>
<td>1.0 个百分点</td>
</tr>
</tbody>
</table>
</div><p>Source: Farmers National Banc. Note: Analyst estimates for the quarter provided by FactSet.</p>
<div class="lb-trans"><p>来源：农民国民银行。注：本季度分析师预估由 FactSet 提供。</p>
</div><h2>About Farmers National Banc and Its Focus Areas</h2>
<div class="lb-trans"><h2>关于农民国民银行及其关注领域</h2>
</div><p>Farmers National Banc is a diversified community financial services company offering banking, trust, insurance, and investment products. It operates through a network of branches and service offices mainly in Ohio and western Pennsylvania, serving both retail and business customers. The bank’s business includes commercial and consumer loans, deposit services, wealth management, and insurance services delivered through various subsidiaries.</p>
<div class="lb-trans"><p>农民国民银行是一家多元化的社区金融服务公司，提供银行、信托、保险和投资产品。它通过在俄亥俄州和宾夕法尼亚州西部的分支机构和服务办公室网络运营，服务于零售和商业客户。该银行的业务包括商业和消费者贷款、存款服务、财富管理以及通过各种子公司提供的保险服务。</p>
</div><p>Recent years have seen the company pursue growth through mergers and acquisitions, most notably its 2023 merger with Emclaire Financial Corp. This expanded its branch presence in Pennsylvania. Success factors for the company center on maintaining a competitive edge through efficient operations, regulatory capital strength, and expanded service offerings. It aims to achieve stability in a crowded regional banking market by growing both interest and noninterest income sources and managing expense levels.</p>
<div class="lb-trans"><p>近年来，该公司通过并购追求增长，最显著的是与 Emclaire Financial Corp.的 2023 年合并。这扩大了其在宾夕法尼亚州的分支机构数量。公司的成功因素集中在通过高效运营、监管资本实力和扩展服务产品保持竞争优势。它旨在通过增加利息和非利息收入来源以及管理费用水平，在拥挤的区域银行市场中实现稳定。</p>
</div><h2>Quarterly Highlights and Financial Developments</h2>
<div class="lb-trans"><h2>季度亮点和财务发展</h2>
</div><p>The period showed a modest earnings per share beat, with GAAP net income up 18.1% compared to Q2 2024. Operating results benefitted from higher net interest income, up 8.4% year over year (GAAP), reflecting both loan growth and an improved net interest margin.</p>
<div class="lb-trans"><p>该期间显示出适度的每股收益超出预期，GAAP 净收入较 2024 年第二季度增长 18.1%。运营结果受益于净利息收入的增加，同比增长 8.4%（GAAP），反映了贷款增长和净利息利润率的改善。</p>
</div><p>The net interest margin, which measures the profitability of a bank's lending activities after accounting for funding costs, rose to 2.91%. This was supported by falling funding costs and higher asset yields as the Federal Reserve began lowering interest rates in September 2024. Noninterest income grew 26.2% compared to Q2 2024, driven by contributions from its insurance and retirement advisory businesses.</p>
<div class="lb-trans"><p>净利息利润率，即在考虑资金成本后衡量银行贷款活动盈利能力的指标，升至 2.91%。这得益于资金成本下降和资产收益率上升，因为美联储在 2024 年 9 月开始降低利率。非利息收入较 2024 年第二季度增长 26.2%，主要受到保险和退休顾问业务贡献的推动。</p>
</div><p>The efficiency ratio improved to 56.7%, down from 60.8% in Q2 2024. Expense growth was contained at just 3.0%, due to annual raises, the acquisition of Crest Retirement, and higher commission expense, offset by lower healthcare and legal costs.</p>
<div class="lb-trans"><p>效率比率改善至 56.7%，低于 2024 年第二季度的 60.8%。由于年度加薪、收购 Crest Retirement 和更高的佣金支出，费用增长仅为 3.0%，而医疗和法律费用则有所降低。</p>
</div><p>Credit quality declined, with nonperforming loans—loans on which borrowers are not making scheduled payments—rising to 0.84% of the total loan portfolio from 0.40% in Q2 2024. This shift primarily reflected two large commercial real estate relationships moved into nonaccrual status. The allowance for credit losses (GAAP) rose to 1.17% of loans, up from 1.05% in Q2 2024. The provision for credit losses, which is an expense set aside to cover potential future loan losses, tripled to $3.5 million compared to Q2 2024 (GAAP). The company maintained its streak of 169 consecutive profitable quarters as of the first quarter of 2025. It declared a quarterly cash dividend of $0.17 per share, unchanged from recent periods.</p>
<div class="lb-trans"><p>信贷质量下降，非表现贷款——借款人未按计划还款的贷款——占总贷款组合的比例从 2024 年第二季度的 0.40% 上升至 0.84%。这一变化主要反映了两大商业房地产关系转为不计息状态。信贷损失准备金（GAAP）上升至贷款的 1.17%，高于 2024 年第二季度的 1.05%。信贷损失准备金是为覆盖潜在未来贷款损失而预留的费用，较 2024 年第二季度增长至 350 万美元（GAAP），是其三倍。截至 2025 年第一季度，该公司保持了 169 个连续盈利季度的记录。它宣布每股现金分红为 0.17 美元，与近期水平持平。</p>
</div><p>Wealth management services, including trust administration and retirement plan consulting, increased assets under care to $4.4 billion as of Q2 2025. Insurance commissions increased 45.8% year-over-year, showing continued emphasis on broadening noninterest income sources. No new acquisitions were completed this period.</p>
<div class="lb-trans"><p>财富管理服务，包括信托管理和退休计划咨询，截至 2025 年第二季度，管理资产增加至 44 亿美元。保险佣金同比增长 45.8%，显示出继续强调拓宽非利息收入来源。本期没有完成新的收购。</p>
</div><h2>Looking Ahead</h2>
<div class="lb-trans"><h2>展望未来</h2>
</div><p>Management indicated it expects further net interest margin expansion in 2025. However, the extent of increase will depend on additional rate policy moves by the Federal Reserve and overall funding costs. No explicit quantitative guidance for earnings or revenue was provided in the current release.</p>
<div class="lb-trans"><p>管理层表示预计 2025 年净利息利润率将进一步扩大。然而，增长的幅度将取决于美联储的进一步利率政策调整和整体资金成本。本次发布中未提供明确的收益或收入的定量指导。</p>
</div><p>Investors will want to monitor the company’s asset quality in upcoming quarters, particularly developments in its commercial real estate loan portfolio. Trends in deposit base changes, noninterest income growth, and further improvements in operational efficiency will also remain important tracking points. The quarterly dividend was maintained at $0.17 per share, continuing the bank’s track record of regular dividend payments.</p>
<div class="lb-trans"><p>投资者将希望在未来几个季度关注公司的资产质量，特别是其商业房地产贷款组合的发展。存款基础变化、非利息收入增长以及运营效率的进一步改善也将是重要的跟踪点。季度分红维持在每股 0.17 美元，继续保持该银行定期分红的记录。</p>
</div><p><em>Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted.</em></p>
<div class="lb-trans"><p><em>收入和净收入按美国公认会计原则（GAAP）呈现，除非另有说明。</em></p>
</div>

Farmers National Banc Posts Q2 EPS Beat

- Farmers National Banc Q2 2025 每股收益为$0.37，超出预期$0.365。  
- 信贷质量下降，商业房地产贷款不良率上升至 0.84%。  
- 预计 2025 年净利差将进一步扩大，需关注资产质量变化。  

农民国民银行公司发布第二季度每股收益超出预期