CANFIELD Farmers National Banc Corp. welcomed Frank J. Monaco to its board of directors.
Monaco, who brings business and consulting experience to his new leadership role with Farmers, was appointed to the board as a Class III director effective July 27. His term expires in 2022.
Monaco is a senior partner at 415 Group, a certified public accounting, business consulting and IT services firm in Canton. He leads the consulting division of the firm, which includes business and estate planning, business valuations and merger support. Monaco has been with 415 Group for 27 years and previously served as managing partner from 2003-2019.
Monaco also is an active member of his community, serving on or having served on a variety of boards of directors, including the Canton Regional Chamber of Commerce, Stark Development Board, Stark County Port Authority and the Pro Football Hall of Fame.
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CANFIELD Farmers National Banc Corp. on Wednesday reported financial results for the three months ended March 31.
Net income for the three months was $14.6 million, or $0.51 per diluted share, which compares with $8.6 million, or $0.30 per diluted share, for the three months ended March 31, 2020, and $11.4 million, or $0.40 per diluted share, for the linked quarter.
Net income excluding acquisition costs for the quarter ended March 31 was $14.6 million, or $0.51 per share, compared with $9.7 million, or $0.34 per share, for the same quarter in 2020, and $12.8 million, or $0.45 per share, for the most recent prior quarter.
“Our record first quarter financial results reflect the power of our diversified business model, our culture of strong asset quality and our focus on providing our communities with local and individualized financial services,” Kevin J. Helmick, Farmers’ president and CEO, said in a news release. “Record quarterly earnings are especially encouraging as