Farmers National Banc Corp. Acquires Crest Retirement Advisors LLC
December 17 2024 - 8:25AM
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20241216105293/en/
Amber Wallace Senior Executive Vice President, Chief Retail and
Marketing Officer 330-720-6441 awallace@farmersbankgroup.com
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