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8-K - FORM 8-K - FARMERS NATIONAL BANC CORP /OH/ | l41717e8vk.htm |
Exhibit 99.1
Farmers National Banc Corp. Announces the Results of the Rights Offering and
Commences Public Offering
Commences Public Offering
CANFIELD, Ohio (January 27, 2011) Farmers National Banc Corp. (Farmers) (OTCBB: FMNB), the
holding company for The Farmers National Bank of Canfield, Ohio, announced that 2,058,315 common
shares were subscribed for in the rights offering and that all basic subscription rights and
oversubscription privileges have been accepted. The subscription period for the rights offering
expired at 5:00 p.m., Eastern Time, on Friday, January 21, 2011. As a result of subscriptions
received in the rights offering and commitments for 2,053,136 shares by standby investors, Farmers
will issue 4,111,451 common shares at a price of $3.00 per share, representing gross proceeds of
approximately $12.3 million.
Farmers is now offering 888,549 common shares to the public, to be offered and sold through
Sandler ONeill + Partners, L.P. on a best efforts basis, at the subscription price of $3.00 per
share.
John S. Gulas, President and Chief Executive Officer of Farmers, commented We are extremely
pleased with the level of participation in the first two phases of our capital raise in both the
rights offering and through the standby purchasers. We will continue our efforts to issue the
balance of the 5,000,000 shares in the final phase of this offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy
the securities, nor shall there be any offer, solicitation or sale of the securities in any state
in which such offer, solicitation or sale would be unlawful prior to the registration or
qualification of the securities under the securities laws of such state. The public offering will
be made by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus
supplement, accompanying prospectus and additional materials related to the public offering may be
obtained by contacting Sandler ONeill + Partners, L.P., Attention: Syndicate Department, 919 Third
Avenue, New York, New York 10022, or toll free at (866) 805-4128.
About Farmers National Banc Corp.
Farmers National Banc Corp. is the bank holding company for the Farmers National Bank of
Canfield, Farmers National Insurance, LLC and Farmers Trust Company. Farmers operates sixteen
banking offices throughout Mahoning, Trumbull and Columbiana Counties and two trust offices located
in Youngstown and Howland. Farmers National Bank of Canfield offers a wide range of banking and
investment services to companies and individuals, and maintains a website at
www.farmersbankgroup.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts but
instead represent only managements current expectations and forecasts regarding future events,
many of which, by their nature, are inherently uncertain and outside of Farmers control. Farmers
believes that the expectations represented by its forward looking statements are
reasonable, yet there can be no assurance that such expectations will prove to be correct.
Furthermore, unless otherwise stated, the forward looking statements contained in this press
release are made as of the date of the press release, and Farmers does not undertake any obligation
to update publicly or to revise any of the included forward-looking statements, whether as a result
of new information, future events or otherwise unless required by applicable laws or regulations.
The forward-looking statements contained in this press release are expressly qualified by this
cautionary statement. Readers are cautioned that these forward-looking statements involve certain
risks and uncertainties, including those contained in Farmers filings with the Securities and
Exchange Commission; such as the Annual Report on Form 10-K for the fiscal year ended December 31,
2009, the Quarterly Reports on Form 10-Q filed during the fiscal year ending December 31, 2010 and
the prospectus for the Public Offering.
Source: Farmers National Banc Corp.
Contact:
Farmers National Banc Corp.
Media Contact:
Amber Wallace
Senior Vice President, Marketing
Tel: 330-702-8427
Mobile: 330-720-6441
Senior Vice President, Marketing
Tel: 330-702-8427
Mobile: 330-720-6441
or
Investor Contact:
John S. Gulas
President and Chief Executive Officer
Tel: 330-702-8432
President and Chief Executive Officer
Tel: 330-702-8432