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CANFIELD, Ohio, December 17, 2024--(BUSINESS WIRE)--Farmers National Banc Corp. ("Farmers" or the "Company") (NASDAQ: FMNB) today announced that National Associates, Inc., a subsidiary of Farmers, has completed the acquisition of Crest Retirement Advisors LLC ("Crest"). The transaction closed on December 16, 2024, and is expected to be accretive to earnings immediately. Crest will continue to operate under its name and from its current location in Dublin, Ohio but is expected to merge with National Associates Inc.
Crest was founded in 2014 and provides customized retirement plans and ongoing administrative services to small businesses. Crest leverages its knowledge of the industry rules and regulations in a manner that provides a retirement plan that is ideal for both the principals and employees. The majority of Crest’s business comes from Central Ohio.
"Since 2014, Crest has helped Columbus-area small businesses create, administer, and manage customized retirement plans," says Kevin J. Helmick, President & CEO for Farmers. "Crest aligns with our multi-year growth strategy by profitably expanding our Wealth Management business, while increasing our presence in Central Ohio. On behalf of everyone at Farmers, I want to welcome Crest’s clients and team members to the Company."
"By partnering with Farmers, Crest will remain focused on providing our small business clients and professionals with best-in-class and customized retirement services, while adding the full-suite of Farmers’ banking solutions," stated Allanya Frank, Vice President and Principal with Crest Retirement. "Farmers growing presence in Ohio and Pennsylvania is exciting and offers Crest an excellent platform to grow and provide more services to our clients. We look forward to our future as part of Farmers," says Rob Martin, Crest’s President and Founder.
Onda LaBuhn Ernsberger & Boggs Co., LPA served as legal counsel to Crest and Vorys, Sater, Seymour and Pease LLP served as legal counsel to Farmers on the transaction.
About Farmers National Banc Corp.
Founded in 1887, Farmers National Banc Corp. is a diversified financial services company headquartered in Canfield, Ohio, with $5.2 billion in banking assets. 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 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 five trust offices and offers services in the same geographic markets. Total wealth management assets under care at September 30, 2024 are $4.0 billion. Farmers National Insurance, LLC, a wholly-owned subsidiary of The Farmers National Bank of Canfield, offers a variety of insurance products.