Business
KBRA Comments on Farmers National Banc Corp’s Merger Agreement to Acquire Middlefield Banc Corp.
NEW YORK, October 23, 2025--On October 22, 2025, Canfield, OH-based Farmers National Banc Corp. (NASDAQ: FMNB) (KBRA Senior Unsecured Debt rating: BBB/Stable Outlook) announced a definitive agreement with Middlefield, OH-based Middlefield Banc Corp., (NASDAQ: MBCN) ("Middlefield", $2.0 billion assets, $1.6 billion deposits) in an all-stock deal valued at $299.0 million, reflective of a price to TBV of 1.6x with expected TBV dilution earn back of ~3 years. The merger is expected to close in 1Q26.
About this update from Farmers National Banc Corp.
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