Farmers National Banc Corp.
FMNBHIGH VELOCITYFILING INTENSITYFarmers National Banc Corp. reads as an High Velocity (composite 70/100); Consistent Strategic Buyer deploying $14M across 4 disclosed transactions, down 84% vs the prior cycle · primary market Regional Banking.
Lens
Disclosed M&A capital (2023–2025)
$14M
vs $88M in 2020–2022
Disclosed transactions
4
3/3 active fiscal years in window
Buyer archetype
Consistent Strategic Buyer
Meaningful spend appears across repeat years.
Composite score
70
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $125M disclosed buyer spend
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 33d
- 297 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- 7 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 7 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 7 activism filings
- Latest activism 8.8y ago; heavily discounted
Distress Watch
Issuers showing financial-distress filing patterns
- 7 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
- 3 auditor changes
- Latest event 3.8y ago; discounted
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 297 8-Ks
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $806M
- 10-Q 33d ago
- 3 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $84M · Peak count: 2
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | 1 | N/A | N/A | N/A |
| 2024 | 1 | $600K | $600K | N/A |
| 2023 | 2 | $13M | $7M | N/A |
| 2022 | 1 | $1M | $1M | N/A |
| 2021 | 2 | $84M | $42M | N/A |
| 2020 | 1 | $3M | $3M | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Horizontal Consolidation33%
- Geographic Expansion33%
- Bolt On33%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- horizontal_consolidation
- geographic_expansion
- bolt_on
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“Our ability to maintain our history of strong financial performance and return on investment to shareholders will depend in part on our continued ability to compete successfully in our market.”
“Our financial performance and return on investment to shareholders also depends on our ability to expand the scope of available financial services to our customers.”
“We encounter significant competition from banks, savings and loan associations, credit unions, mortgage banks, and other financial service companies in our markets. Some of our competitors offer a broader range of products and services than we can offer as a result of their size and ability to achieve economies of scale. Such competition includes major financial companies whose greater resources may afford them a marketplace advantage by enabling them to maintain more numerous banking locations and support extensive promotional and advertising campaigns. Our ability to maintain our history of strong financial performance and return on investment to shareholders will depend in part on our continued ability to compete successfully in our market. Our financial performance and return on investment to shareholders also depends on our ability to expand the scope of available financial services to our customers. In addition to other banks, competitors include securities dealers, brokers, investment advisors and finance and insurance companies. The increasingly competitive environment is, in part, a result of changes in regulation, changes in technology and product delivery systems and the accelerating pace of consolidation among financial service providers.”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Regional Banking
- Market spend (2023–2025)
- $245.7B
- Market spend (2020–2022)
- $72.8B
- Recent vs prior
- +238%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
FMNB trades at a -1.1-turn discount to the Regional Banking peer median of 12.3×.
- EV / Revenue
- 2.8×
- Net debt / EBITDA
- 4.4×
- Peer median EV / EBITDA
- 12.3×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
| 16.7× | 3.7× | -0.9× | $13.7B | $12.7B | |
| 13.9× | 3.0× | -0.7× | $58.4B | $126.1B | |
Farmers National Banc Corp.FMNB | 11.2× | 2.8× | 4.4× | $283M | $14M |
| 10.7× | 3.2× | -2.1× | $3.4B | $7B | |
| 9.3× | 2.2× | -0.3× | $14.5B | $72.6B |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Regional Banking. Bars scaled to the highest EV/EBITDA in the set.
Target landscape.
Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.
No qualifying public-issuer targets surfaced from the current signal mix.
Stated target categories
No target categories enumerated in the audited corpus for this issuer.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)382026-03-17
- 10-Q (quarterly)952026-05-07
- 8-K (event)2972026-04-22
- Proxy / DEF 14A522026-03-16
- Activism (13D / DFAN / PREC)72017-08-23
Signals on file
- elevated
Auditor change
2022-08-293 Item 4.01 filings on file; certifying accountant change.
- elevated
Activism on file
2017-08-237 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
- info
Signal
Restatement risk
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.