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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>As filed with the Securities and Exchange Commission on
    May&#160;28, 2010</B>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Registration
    <FONT style="white-space: nowrap">No.&#160;333-</FONT>
    [&#160;&#149;&#160;]</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

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<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION<BR>
    </FONT><FONT style="font-size: 12pt">Washington,&#160;D.C.
    20549</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 18pt"><FONT style="white-space: nowrap">Form&#160;S-1</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">REGISTRATION STATEMENT<BR>
    UNDER<BR>
    THE SECURITIES ACT OF 1933</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 24pt">Farmers National Banc
    Corp.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Exact name of registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
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    <TD width="31%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
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    <TD width="31%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
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<TD nowrap align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Ohio</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>6022</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>34-1371693</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(State or other jurisdiction
    of<BR>
    incorporation or organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(Primary Standard Industrial<BR>
    Classification Code Number)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(I.R.S. Employer<BR>
    Identification Number) </FONT></I>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">20 South Broad Street</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">Canfield, Ohio 44406</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt"><FONT style="white-space: nowrap">(330)&#160;533-3341</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Address, including zip code,
    and telephone number, including area code, of registrant&#146;s
    principal executive offices)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">Frank L. Paden</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">President and
    Secretary</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">Farmers National Banc
    Corp.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">20 South Broad Street</FONT></B>
</DIV>



<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Canfield,
    Ohio 44406<BR>
    <FONT style="white-space: nowrap">(330)&#160;533-3341</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Name and address, including zip
    code, and telephone number, including area code, of agent for
    service)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I><FONT style="font-size: 9pt">Copies of all communications,
    including copies of all communications sent to agent for
    service, should be sent to:</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="49%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
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<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>J. Bret Treier,&#160;Esq.</B>&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>John J. Jenkins,&#160;Esq.</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>John M. Saganich,&#160;Esq.</B>&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>Calfee, Halter &#038; Griswold LLP</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Vorys, Sater, Seymour and Pease LLP</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>1400 KeyBank Center</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>106 South Main Street, Suite&#160;1100</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>800 Superior Avenue</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Akron, Ohio 44308</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>Cleveland, Ohio 44144</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B><FONT style="white-space: nowrap">(330)&#160;208-1015</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>(216) 622-8507</B>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Approximate
    date of commencement of proposed sale of the securities to the
    public:<BR>
    As soon as practicable after the effective date of this
    registration statement.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If any of the securities being registered on this Form are to be
    offered on a delayed or continuous basis pursuant to
    Rule&#160;415 under the Securities Act of 1933 check the
    following
    box:&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If this Form is filed to register additional securities for an
    offering pursuant to Rule&#160;462(b) under the Securities Act,
    please check the following box and list the Securities Act
    registration statement number of the earlier effective
    registration statement for the same
    offering.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If this Form is a post-effective amendment filed pursuant to
    Rule&#160;462(c) under the Securities Act, check the following
    box and list the Securities Act registration statement number of
    the earlier effective registration statement for the same
    offering.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If this Form is a post-effective amendment filed pursuant to
    Rule&#160;462(d) under the Securities Act, check the following
    box and list the Securities Act registration statement number of
    the earlier effective registration statement for the same
    offering.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Indicate by check mark whether the registrant is a large
    accelerated filer, an accelerated filer, a non-accelerated
    filer, or a smaller reporting company. See the definitions of
    &#147;large accelerated filer,&#148; &#147;accelerated
    filer&#148; and &#147;smaller reporting company&#148; in Rule
    <FONT style="white-space: nowrap">12b-2</FONT> of the
    Exchange Act. (Check one):
</DIV>

<DIV style="margin-top: 5pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="25%"></TD>
    <TD width="25%"></TD>
    <TD width="25%"></TD>
    <TD width="25%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <FONT style="font-size: 9pt; font-family: 'Times New Roman', Times">Large
    accelerated
    filer&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-size: 9pt; font-family: 'Times New Roman', Times">
    Accelerated
    filer&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;</FONT>
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-size: 9pt; font-family: 'Times New Roman', Times">
    <FONT style="white-space: nowrap">Non-accelerated</FONT>
    filer&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>
    </FONT></TD>
    <TD nowrap align="right">    <FONT style="font-size: 9pt; font-family: 'Times New Roman', Times">
    Smaller reporting
    company&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>
    </FONT></TD>
</TR>

</TABLE>



<DIV align="center" style="margin-left: 22%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="font-size: 9pt">(Do not check if a smaller
    reporting company)
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">CALCULATION
    OF REGISTRATION FEE</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="35%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="30%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterright -->
    <TD width="31%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Proposed Maximum<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Amount of<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Title of Each Class of<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Aggregate Offering<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Registration<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Securities to be Registered</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Price(1)</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Fee(2)</B>
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top" style="border-top: 1px solid #000000">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Common Shares, no par value
</DIV>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="top" style="border-top: 1px solid #000000">
    $15,000,000
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="top" style="border-top: 1px solid #000000">
    $1,069.50
</TD>
</TR>
<TR style="font-size: 1pt">
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Includes common shares that may be
    purchased by the underwriters pursuant to their option to
    purchase additional common shares to cover over-allotments.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(2)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Calculated in accordance with
    Rule&#160;457(o) under the Securities Act of 1933, as amended,
    based on the maximum aggregate offering price.
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The Registrant hereby amends this Registration Statement on
    such date or dates as may be necessary to delay its effective
    date until the Registrant shall file a further amendment which
    specifically states that this Registration Statement shall
    thereafter become effective in accordance with Section&#160;8(a)
    of the Securities Act of 1933, as amended, or until this
    Registration Statement shall become effective on such date as
    the Securities and Exchange Commission, acting pursuant to said
    Section&#160;8(a), may determine.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></CENTER>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 94%; margin-left: 3%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE style="color: #FF0000" width="100%" border="1" cellpadding="5"><TR><TD style=text-align:justify>
<FONT style="font-size: 8pt; font-family: Arial, Helvetica; color: #E8112D">The
information in this prospectus is not complete and may be
changed. We may not sell these securities until the registration
statement filed with the Securities and Exchange Commission is
effective. This prospectus is not an offer to sell these
securities and is not soliciting an offer to buy these
securities in any jurisdiction where the offer or sale is not
permitted.<BR>
</FONT>
</TD></TR></TABLE>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>
</DIV><!-- END PAGE WIDTH -->
<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="color: #E8112D">SUBJECT TO COMPLETION, DATED
    MAY&#160;28, 2010</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PRELIMINARY
    PROSPECTUS</FONT></B>
</DIV>

<DIV style="margin-top: 36pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="l39852l3985201.jpg" alt="(FARMERS LOGO)">
</DIV>

<DIV style="margin-top: 20pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">Common Shares</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We are offering&#160;&#160;&#160;&#160;&#160; of our common
    shares, no par value. Our common shares are quoted on the
    <FONT style="white-space: nowrap">Over-The-Counter</FONT>
    Bulletin&#160;Board (the &#147;OTCBB&#148;) under the symbol
    &#147;FMNB.OB.&#148; On [&#160;&#149;&#160;], 2010, the last
    reported sale price of our common shares was
    $[&#160;&#149;&#160;] per share. On [&#160;&#149;&#160;], 2010,
    we applied to list our shares on the NASDAQ Capital Market (the
    &#147;Nasdaq&#148;) under the symbol
    &#145;&#145;[&#160;&#149;&#160;].&#148;
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 5%; font-size: 12pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Investing in our common shares involves risks. See &#147;Risk
    Factors&#148; beginning on page&#160;9 of this prospectus to
    read about factors you should consider before you make your
    investment decision.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="83%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Per Share</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Total</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Price to public
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Underwriting discount and commissions
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Proceeds, before expenses, to Farmers National Banc Corp.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We have granted the underwriter a
    <FONT style="white-space: nowrap">30-day</FONT>
    option to purchase up
    to&#160;&#160;&#160;&#160;&#160;&#160;additional common shares
    at the same price, and on the same terms, solely to cover
    over-allotments, if any.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Neither the Securities and Exchange Commission nor any state
    securities commission has approved or disapproved of these
    securities or determined if this prospectus is truthful or
    complete. Any representation to the contrary is a criminal
    offense.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>These common shares are not savings accounts, deposits or
    obligations of any bank and are not insured by any insurance
    fund of the Federal Deposit Insurance Corporation or any other
    governmental agency.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The underwriter expects to deliver common shares to purchasers
    against payment in New York, New York on or
    about&#160;&#160;&#160;&#160;&#160;, 2010, subject to customary
    closing conditions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 26%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="l39852l3985200.gif" alt="(SANDLER O'NEILL & PARTNERS, L.P. LOGO)">
</DIV>

<CENTER style="font-size: 1pt; width: 26%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The date of this prospectus is&#160;&#160;&#160;&#160;&#160;,
    2010
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="tocpage"></A>
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="97%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Page</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#101'>Summary</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#102'>Risk Factors</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#103'>Cautionary Note Regarding Forward-Looking
    Statements</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    16
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#104'>Use Of Proceeds</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    17
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#105'>Capitalization</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    18
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#106'>Market For Common Shares&#160;And Our Dividend
    Policy</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    19
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#107'>Description Of Capital Stock</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    20
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#108'>Underwriting</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    24
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#109'>Experts</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    26
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#110'>Legal Matters</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    26
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#111'>Where You Can Find More Information</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    26
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="l39852exv21.htm">EX-21</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="l39852exv23w1.htm">EX-23.1</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="l39852exv24.htm">EX-24</A></FONT></TD></TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ABOUT
    THIS PROSPECTUS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You should rely only on the information contained in this
    prospectus and in the documents incorporated by reference
    herein. We have not, and the underwriter has not, authorized any
    other person to provide you with different information. You
    should assume that the information appearing in this prospectus
    is accurate only as of the date on the front cover of this
    prospectus regardless of the time of delivery of this prospectus
    or any sale of the common shares. Our business, financial
    condition, results of operations and prospects may have changed
    since the date of this prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In this prospectus, we rely on and refer to information and
    statistics regarding the banking industry and the banking market
    in Ohio. We obtained this market data from independent
    publications or other publicly available information.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    No action is being taken in any jurisdiction outside the United
    States to permit a public offering of the common shares or
    possession or distribution of this prospectus in that
    jurisdiction. Persons who come into possession of this
    prospectus in jurisdictions outside the United States are
    required to inform themselves about, and to observe, any
    restrictions as to this offering and the distribution of this
    prospectus applicable to those jurisdictions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Unless the context of this prospectus indicates otherwise, the
    terms &#147;Farmers,&#148; the &#147;Company,&#148;
    &#147;we,&#148; &#147;us&#148; or &#147;our&#148; refer to
    Farmers National Banc Corp. and our consolidated subsidiaries.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PROSPECTUS
    SUMMARY</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>This summary is not complete and does not contain all of the
    information you should consider before investing in the common
    shares offered by this prospectus. You should read this summary
    together with the entire prospectus, including our financial
    statements, the notes to those financial statements, and the
    other documents that are incorporated by reference in this
    prospectus, before making an investment decision. See the
    &#147;Risk Factors&#148; section of this prospectus beginning on
    page&#160;[&#160;&#149;&#160;] for a discussion of the risks
    involved in investing in our common shares.</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Overview</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We are an Ohio corporation organized in 1982 to serve as the
    holding company for Farmers National Bank of Canfield
    (&#147;Farmers Bank&#148;). We are registered as a multi-bank
    holding company under the Bank Holding Company Act of 1956, as
    amended. At March&#160;31, 2010, we had total assets of
    approximately $1.04&#160;billion, deposits of approximately
    $776.8&#160;million and total stockholders&#146; equity of
    approximately $82.3&#160;million. Our common shares are quoted
    on the OTCBB under the symbol &#147;FMNB.OB.&#148; On
    [&#160;&#149;&#160;], 2010, we applied to list our common shares
    on the Nasdaq under the symbol &#147;[&#160;&#149;&#160;].&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Farmers Bank is a community based national bank chartered in
    1887 and headquartered in Canfield, Ohio. Farmers Bank is a
    full-service financial services company engaged in commercial
    and retail banking through 16 retail offices and 15 ATMs located
    in Mahoning, Trumbull and Columbiana counties in the State of
    Ohio. In addition, on March&#160;31, 2009 we acquired Farmers
    Trust&#160;Company (&#147;Farmers Trust&#148;). With
    approximately $844&#160;million in assets under management as of
    March&#160;31, 2010, Farmers Trust is the only locally owned
    trust company in the Mahoning Valley, and offers individual and
    corporate trust services through two offices located in Mahoning
    and Trumbull counties. In 2009, we formed Farmers National
    Insurance, LLC to further expand our operations to include a
    fully-licensed insurance agency offering life, health and
    property casualty insurance products.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our record of financial stability, our conservative operating
    policies and our board and management team&#146;s stability and
    experience have enabled us to profitably grow our asset and
    deposit base despite challenging economic conditions. We
    achieved an approximately 10% increase in our loan portfolio and
    an approximately 20% increase in deposits during 2009, while
    closely managing asset and deposit quality. We exceeded the
    $1&#160;billion mark in total assets for the first time in our
    history at December&#160;31, 2009. Also, the addition of Farmers
    Trust has allowed us to significantly expand our financial
    services offering and diversify our revenue stream.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our executive offices are located at 20 South Broad Street,
    Canfield, Ohio 44406 and our telephone number is
    <FONT style="white-space: nowrap">(330)&#160;533-3341.</FONT>
    Our internet address is <U>www.farmersbankgroup.com</U>. The
    information contained on our website should not be considered
    part of this prospectus, and the reference to our website does
    not constitute incorporation by reference of the information
    contained on the website.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Additional information about us and our subsidiaries is included
    in documents incorporated by reference in this prospectus. See
    &#147;Where You Can Find More Information&#148; beginning on
    page&#160;[&#160;&#149;&#160;] of this prospectus.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Our
    Strategy and Highlights</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our strategy focuses on capitalizing on our financial stability
    and our community orientation to continue to profitably grow our
    business while maintaining sound operations and risk management.
    We seek to increase our market share by expanding our operations
    through internal growth and selective acquisitions, and by
    building on our existing customer relationships. We intend to
    continue to diversify our sources of revenue and expand
    non-interest income through trust services, insurance and other
    financial services and products. Highlights of our strategy
    include the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

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</TR>

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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Risk Management and Asset Quality </I>&#151;&#160;We closely
    monitor and manage the risk of our operations, including the
    performance of our investment and loan portfolio, loan growth
    and core deposit growth. We have a short-term, high quality
    investment portfolio with an average life of 5.4&#160;years. We
    continue to emphasize making loans to creditworthy borrowers,
    conducting sound analysis of financial and
</TD>
</TR>

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    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    collateral information, working constructively with borrowers
    experiencing difficulties and confronting credit problems in a
    forthright and timely manner. During the later part of 2008 and
    2009, we moved aggressively to contend with asset quality
    deterioration, most notably in the commercial real estate
    portfolio. As a result of these changes, we increased the
    allowance for loan losses in 2009. During 2009, we provided
    approximately $6.05&#160;million to the allowance for loan
    losses. Our allowance for loan losses/total loans and our
    allowance for loan losses/non-performing loans at year-end 2009
    were approximately 1.21% and 73%, respectively, compared to
    approximately 1.01% and 104% at the end of 2008. Management
    remains diligent in monitoring local economic conditions and the
    impact that it may have on our loan portfolio. For the three
    months ended March&#160;31, 2010, management provided
    approximately an additional $2.78&#160;million to the allowance
    for loan losses, which brought our allowance for loan
    losses/total loans to approximately 1.35% and our allowance for
    loan losses/non-performing loans to approximately 76%. Our
    non-performing loans to total loans and non-performing assets to
    total assets were approximately 1.76% and 1.04%, respectively,
    at March&#160;31, 2010.
</TD>
</TR>

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<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Brand Development&#160;&#151; </I>During the last
    24&#160;months, we have undertaken a campaign to build our brand
    awareness as &#147;Rock Solid,&#148; a &#147;Safe Harbor&#148;
    and a &#147;Stand Strong&#148; organization. We are actively
    involved in marketing initiatives aimed at increasing brand
    awareness. We believe that our focus on customer service and
    developing and maintaining customer relationships better
    position us to attract loan, deposit, insurance and financial
    services customers in our primary service area from larger
    national and regional financial institutions.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Attracting, Developing and Retaining Quality People
    </I>&#151;&#160;During 2009, we set forth to leverage our
    positive workplace environment as a way to retain and attract
    new talent. We also enhanced our training programs and our
    reward and recognition programs to develop and retain our
    existing associate base. Without motivated, dedicated and
    responsible associates, we believe that it would be impossible
    to deliver the quality of service we envision for our customers.
    By treating employees fairly, and with dignity and respect, we
    believe we can contribute to the well-being and personal
    development of our associates. We believe the success of this
    approach has resulted in us being seen as an &#147;employer of
    choice&#148; in the Mahoning Valley. In October 2009, we were
    the recipients of the Youngstown/Warren Regional Chamber Human
    Resource Development Award, which is awarded to a local company
    that offers outstanding human resource development programs.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Core Systems Technology Enhancements&#160;&#151; </I>During
    2009, we invested significantly in our core systems in order to
    provide an infrastructure platform that can support our future
    growth. We fully implemented seven key system conversions that
    essentially re-engineered the technology and processing core of
    our operations. These systems included a new core banking
    system, various new transaction, consumer loan application, and
    loan documentation processing systems, a new suite of on-line
    banking products and a comprehensive cash management system for
    corporate banking customers, and enhanced telephone banking and
    automatic bill-paying systems.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Expand Asset Base Through Growth in Our Loan Portfolio
    </I>&#151;&#160;We focus on driving profitability by expanding
    our asset base through in-market organic loan growth. Because of
    our focus on customer service and local credit decisions, we
    believe that we are well positioned to capture credit customers
    from larger institutions operating in our primary service area.
    We believe that our financial stability also makes us
    well-positioned to capture credit customers from other community
    banks in our primary service area, many of whom have been more
    adversely affected by the recession than we have. During 2009,
    our loan portfolio increased approximately 10%, reflecting
    substantial development in our traditionally strong indirect
    automobile financing programs. Our commercial real estate loan
    portfolio grew approximately 11% and our commercial and
    industrial loan portfolio increased approximately 8%.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Core Funding Strategy </I>&#151;&#160;Strong core deposit
    growth is a key component of our operating strategy. During
    2009, our total deposits increased by approximately 20%. We
    focus on high-quality, low-cost deposits to supplement our
    balance sheet, and on diversifying our deposit portfolio. At
    March&#160;31, 2010, our core deposits&#160;&#151; savings and
    money market accounts, time deposits less than $100,000, demand
    accounts and NOW accounts&#160;&#151; represented approximately
    83% of total
</TD>
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    <BR>
    2
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<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    deposits. Our emphasis on core deposit growth has contributed to
    significant improvement in our net interest margin. Net interest
    margin was approximately 3.88% during 2009 as compared to
    approximately 3.58% for 2008. Net interest margin improved to
    approximately 4.01% during the first quarter of 2010. In
    addition, we have not undertaken any of the following:
    (1)&#160;we did not participate in the United States Department
    of the Treasury&#146;s Capital Purchase Program, which was
    established under Troubled Asset Relief Program as part of the
    Emergency Economic Stabilization Act of 2008; (2)&#160;we have
    not issued any unsecured senior debt guaranteed by the Federal
    Deposit Insurance Corporation (the &#147;FDIC&#148;) under its
    Temporary Liquidity Guarantee Program; and (3)&#160;we have not
    issued any preferred or trust preferred securities.
</TD>
</TR>

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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Diversifying Financial Services and Expanding Non-Interest
    Income </I>&#151;&#160;We believe that increasing the variety of
    services that we offer will help us to further penetrate and to
    increase our customer base within our targeted market areas. We
    also believe that we will benefit from decreased costs resulting
    from integrated sales efforts and cross-selling capabilities,
    increased fee income resulting from the provision of additional
    services and reduced interest rate risk associated with a
    diverse revenue mix. Trust services, which we began to provide
    following our purchase of Farmers Trust on March&#160;31, 2009,
    contributed approximately $3.5&#160;million in non-interest
    income for 2009 and approximately $1.2&#160;million for the
    first quarter of 2010. Our insurance agency also contributed
    approximately $80,000 in non-interest income during 2009 and
    approximately $62,000 during the first quarter of 2010.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Management
    Team</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our executive management team has 220 combined years of
    experience in the financial services industry, including
    106&#160;years with us. The long tenure and stability of our
    executive management team was augmented in 2007 with the
    addition of John S. Gulas as Chief Operating Officer, as well as
    certain additions or promotions, including:
</DIV>

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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Amber B. Wallace, Senior Vice President and Director of
    Marketing;
</TD>
</TR>


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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Brian E. Jackson, Vice President and Chief Information Officer;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Mark A. Nicastro, Vice President and Director of Human Relations;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Kevin J. Helmick, Senior Vice President, Retail
    Services;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    James H. Sisek and William Hanshaw, the leaders of Butler
    Wick&#146;s trust business who joined us at the time of the
    Farmers Trust acquisition.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We have also added 17 sales and operational support employees
    over the last 12&#160;months to accommodate current and
    anticipated growth. Our corporate culture is performance-based
    which rewards employees at all levels of the organization based
    upon our financial performance and on the attainment of personal
    objectives.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    On May 27, 2010, our board announced that effective July 1,
    2010, Mr. Gulas will succeed Frank L. Paden as President and
    Chief Executive Officer of each of the Company and Farmers Bank.
    Mr. Paden, who has served as President and Chief Executive
    Officer for the Company and Farmers Bank since 1996, will remain
    as executive chairman of the board of directors and Secretary of
    each of the Company and Farmers Bank. Mr.&#160;Gulas also will
    be appointed as an additional member of our board effective July
    1, 2010.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Competition</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We believe that we are well positioned to continue our
    profitable expansion in our market area. In the current
    financial and regulatory environment, many of the larger
    financial institutions operating in our market area have shifted
    their focus away from business development and have focused on
    internal operational, capital and regulatory issues. At the same
    time, many community banks operating in our primary market area
    have been more adversely affected by the recession than we have.
    We believe that our performance based culture developed by our
    management team, our focus on customer service and the ability
    to provide local credit decisions, provide us with a significant
    opportunity to capture customers from larger institutions. We
    believe that these factors, together with our financial
    stability, make us well-positioned to capture customers from
    other community banks in our primary service area.
</DIV>
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    <BR>
    3
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    <B><FONT style="font-family: 'Times New Roman', Times">Our
    Market Area</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our primary market area consists of Mahoning, Trumbull and
    Columbiana counties in the northeast and east-central portions
    of Ohio, to the east and south of the Cleveland metropolitan
    area. This area, which generally encompasses the
    Youngstown-Warren-Boardman metropolitan area, is referred to as
    the Mahoning Valley. At 2009, the Youngstown-Warren-Boardman
    metropolitan area had a population of approximately 575,000, and
    a median household income for 2009 of approximately $45,000. The
    area had an  unemployment rate for March 2010 of approximately
    14.0%, as compared to a statewide unemployment rate of
    approximately 11.5%.
</DIV>

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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Mahoning Valley&#146;s economy is heavily influenced by the
    manufacturing sector with an emphasis on steel, auto
    manufacturing and a variety of related and smaller industries.
    The area has experienced significant economic challenges over an
    extended period and those challenges have been heightened during
    the current recession. Nevertheless, the Mahoning Valley enjoys
    an extensive transportation infrastructure comprised mainly of
    railroad and trucking systems and remains an important
    industrial center. The Mahoning Valley has recently seen several
    important investments in new business, including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Steelmaker V&#038;M Star&#146;s planned $650&#160;million
    expansion, which includes a new
    <FONT style="white-space: nowrap">&#147;state-of-the-art&#148;</FONT>
    rolling mill in Youngstown.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    General Motors&#146; decision to build the company&#146;s next
    generation small car, the Chevrolet Cruze, at the company&#146;s
    Lordstown, Ohio assembly plant, and to invest approximately
    $350&#160;million in the Lordstown facility to support
    production of the Cruze.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The acquisition of Warren, Ohio-based WCI Steel by OAO
    Severstal, one of the world&#146;s leading integrated steel and
    mining companies, and that firm&#146;s anticipated investment of
    approximately $100&#160;million in repairs and upgrades to
    WCI&#146;s facilities over a five year period.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Although the recent economic downturn has adversely affected our
    financial performance, we remain focused on building long-term
    shareholder value. We believe that we have significant
    opportunities to grow our business within and adjacent to our
    primary market area. The Youngstown-Warren-Boardman and adjacent
    East Liverpool-Salem metropolitan areas combined total for
    FDIC-insured deposits was approximately $10.6&#160;billion as of
    June&#160;30, 2009. As of that date, Farmers Bank ranked seventh
    out of 18 FDIC insured institutions in deposits in the
    Youngstown-Warren-Boardman metropolitan area (approximately 6.4%
    deposit market share) and fourth out of 11 FDIC institutions in
    the East Liverpool-Salem metropolitan area (approximately 9.1%
    deposit market share).
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Our
    Capital Requirements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Like many financial institutions across the United States, our
    operations have been adversely affected by the recent economic
    crisis. The financial crisis has highlighted the role that
    capital serves as a protection against loss, liquidity risk and
    insolvency.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Pursuant to applicable regulations, we, as well as Farmers Bank,
    are subject to various regulatory capital requirements
    administered by federal banking agencies, including the Board of
    Governors of the Federal Reserve System (the &#147;Federal
    Reserve Board&#148;) and the Office of the Comptroller of the
    Currency (the &#147;OCC&#148;). Under capital adequacy
    guidelines and the regulatory framework, we are expected to act
    as a source of financial strength for our subsidiary banks, and
    we are subject to certain regulatory capital requirements that
    involve quantitative measures of our assets, liabilities, and
    certain off-balance-sheet items. Farmers Bank is also subject to
    capital adequacy guidelines and regulatory capital requirements.
    Failure to meet minimum capital requirements can initiate
    certain mandatory (and possibly additional discretionary)
    actions by federal banking regulators. See &#147;Risk
    Factors&#148; beginning on page [&#160;&#149;&#160;] of this
    prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The capital management function is a regular process that
    consists of providing capital for both our current financial
    position and our anticipated future growth. Due to the
    continuing growth in Farmers Bank&#146;s business and the
    increase in its allowance for loan losses associated with
    current economic conditions, senior management and our board
    determined that higher levels of capital are appropriate. The
    OCC concurred with
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    our board&#146;s view that additional capital would be
    beneficial in supporting Farmers Bank&#146;s continued growth
    and operations. As a result, effective February&#160;2, 2010,
    the OCC proposed, and our board accepted, the following
    individual minimum capital requirements for Farmers Bank:
    Tier&#160;I Capital to Adjusted Total Assets of 7.20% and Total
    Capital to Risk-Weighted Assets of 11.00%. At March&#160;31,
    2010, Farmers Bank&#146;s Tier&#160;1 Capital to Adjusted Total
    Assets was approximately 6.68% and Total Capital to
    Risk-Weighted Assets was approximately 11.50%. We anticipate
    using the proceeds of this offering to satisfy these individual
    minimum capital requirements and provide additional capital
    necessary to support the continued growth of our business. See
    &#147;Use of Proceeds&#148; beginning on
    page&#160;[&#160;&#149;&#160;] of this prospectus.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">THE
    OFFERING</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="36%"></TD>
    <TD width="1%"></TD>
    <TD width="63%"></TD>
</TR>

<TR>
    <TD valign="top">
    Issuer</TD>
    <TD></TD>
    <TD valign="bottom">
    Farmers National Banc Corp.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Common shares offered by us</TD>
    <TD></TD>
    <TD valign="bottom">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></TD>

</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Common shares outstanding after the offering</TD>
    <TD></TD>
    <TD valign="bottom">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></TD>

</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Net proceeds</TD>
    <TD></TD>
    <TD valign="bottom">
    The net proceeds, after underwriting discounts and commissions
    and estimated expenses, to us from the sale of the common shares
    offered will be approximately $&#160;&#160;&#160;&#160;&#160; on
    (or approximately $&#160;&#160;&#160;&#160;&#160;&#160;million
    if the underwriter exercises its over-allotment option in full).</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Use of proceeds</TD>
    <TD></TD>
    <TD valign="bottom">
    We intend to use the net proceeds of this offering for general
    corporate purposes, including a capital contribution to Farmers
    Bank, which will use such amount for its general corporate
    purposes, including, but not limited to, improving its
    regulatory capital position, funding organic loan growth and
    pursuing long-term strategic opportunities.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Trading Market</TD>
    <TD></TD>
    <TD valign="bottom">
    Our common shares are quoted on the OTCBB under the symbol
    &#147;FMNB.OB.&#148; On [&#160;&#149;&#160;], 2010, we applied
    to list our shares on the Nasdaq under the symbol
    &#147;[&#160;&#149;&#160;].&#148;</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Dividends</TD>
    <TD></TD>
    <TD valign="bottom">
    We currently pay a quarterly dividend of $0.03 per share on our
    common shares. The declaration and payment of future dividends
    on our common shares will be at the discretion of our board and
    our dividend payments may be changed, reduced or eliminated
    altogether. See &#147;Risk Factors&#148; on
    page&#160;[&#160;&#149;&#160;] of this prospectus, the
    &#147;Risk Factors&#148; section in our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2009, which is incorporated
    by reference herein, and other information included or
    incorporated by reference in this prospectus for information
    regarding restrictions on our ability to pay dividends on our
    common shares.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    The number of common shares offered assumes that the
    underwriter&#146;s over-allotment option is not exercised. If
    the over-allotment option is exercised in full, we will issue
    and sell an additional&#160;&#160;&#160;&#160;&#160;common
    shares.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    The number of common shares outstanding after this offering
    includes 13,546,248&#160;shares outstanding as of March&#160;31,
    2010, but does not include:
    (1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;common
    shares issuable pursuant to the underwriter&#146;s
    over-allotment option to purchase additional shares; and
    (2)&#160;34,000&#160;shares reserved for issuance upon exercise
    of stock options with a weighted-average exercise price of
    $10.35, which have been granted and remained outstanding as of
    March&#160;31, 2010.</TD>
</TR>

</TABLE>
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</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<A name='102'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">RISK
    FACTORS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Investing in our common shares involves risks. See &#147;Risk
    Factors&#148; beginning on page&#160;9 of this prospectus to
    read about factors you should consider before you make your
    investment decision.
</DIV>

<A name='101'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SUMMARY
    SELECTED FINANCIAL DATA</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table sets forth our selected historical
    consolidated financial data as of and for years ended
    December&#160;31, 2009 (which has been derived from our audited
    consolidated financial statements), and as of and for the three
    months ended March&#160;31, 2010 and 2009 (unaudited). You
    should read this table together with the historical consolidated
    financial information contained in our consolidated financial
    statements and related notes, &#147;Management&#146;s Discussion
    and Analysis of Financial Condition and Results of
    Operations&#148; included in our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2009 and our Quarterly
    Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarter ended March&#160;31, 2010, which have been filed
    with the Securities and Exchange Commission (the
    &#147;SEC&#148;) and are incorporated by reference in this
    prospectus. Information for the three month periods ended
    March&#160;31, 2010 and 2009 is derived from unaudited interim
    consolidated financial statements and has been prepared on the
    same basis as our audited consolidated financial statements and
    includes, in the opinion of management, all adjustments,
    consisting of only normal recurring adjustments, necessary to
    present fairly the data for such periods. The results of
    operations for the three month period ended March&#160;31, 2010
    do not necessarily indicate the results which may be expected
    for any future period or for the full year.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="43%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>As of and for the<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Three Months Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As of and for the Year Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2005</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" nowrap align="center" valign="bottom">
    <B>(Dollars in thousands, except per share data)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Summary of Earnings</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Total Interest Income (including fees on loans)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,126
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,994
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    49,775
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    46,415
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    45,538
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    44,098
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    42,481
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Total Interest Expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,312
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,311
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,547
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,947
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,893
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,199
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,236
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Net Interest Income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,814
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,683
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33,228
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,468
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,645
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,899
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27,245
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Provision for Loan Losses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,778
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    450
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,050
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,420
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    570
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    200
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    649
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Noninterest
    Income<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,336
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,118
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,388
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,617
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,408
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,134
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,386
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Noninterest Expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,532
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,256
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,655
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,013
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,382
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,619
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,212
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Income Before Income Taxes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    840
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,095
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,911
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,652
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,101
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,214
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,770
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Income Taxes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (7
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    411
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,069
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    987
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,176
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,999
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,710
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Net Income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    847
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,684
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,842
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,665
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,925
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,215
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,060
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Per Share Data</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Basic earnings per share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.44
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.43
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.46
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.62
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Diluted earnings per share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.44
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.43
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.46
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.62
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Cash Dividends Paid
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.03
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.52
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.64
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.64
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.64
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Book Value
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.07
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.88
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.83
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.67
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.83
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.82
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Tangible Book
    Value<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.29
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.83
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.67
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.83
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.82
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Balances at Period-End</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Total Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,040,211
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    939,360
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,014,808
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    880,370
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    798,236
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    821,584
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    827,069
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Allowance for Loan Losses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,220
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,835
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,400
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,553
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,459
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,594
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,860
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Net Loans
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    600,915
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    563,660
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    601,995
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    546,452
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    508,647
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    502,594
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    506,054
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Earning Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    976,320
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    879,358
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    948,187
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    829,173
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    745,482
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    778,719
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    776,300
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Total Deposits
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    776,795
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    675,602
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    777,552
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    648,010
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    593,428
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    619,747
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    630,800
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Short-Term Borrowings
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    152,205
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    136,058
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    125,912
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    105,435
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    74,174
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    77,792
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    76,963
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Long-Term Borrowings
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,520
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,490
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27,169
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    46,464
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,455
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,602
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39,508
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Total Stockholders&#146; Equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82,257
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    78,457
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    80,628
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    77,102
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    73,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    76,223
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    75,864
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Average Balances</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Total Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,009,108
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    902,663
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    970,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    841,630
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    804,968
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    818,549
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    828,180
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Total Stockholders&#146; Equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82,486
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    77,882
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    79,775
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    73,889
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    74,615
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    75,143
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    77,475
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Significant Ratios</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Efficiency Ratio (On tax equivalent basis)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63.74
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    67.47
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    67.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    68.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65.04
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    61.54
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Net Interest Margin
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.88
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.58
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.33
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.29
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.67
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Return on Average Assets (ROA)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.34
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.76
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.60
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.67
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.74
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.88
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.97
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Return on Average Equity(ROE)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.16
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.77
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.32
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.67
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.95
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="43%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>As of and for the<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Three Months Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As of and for the Year Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2005</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" nowrap align="center" valign="bottom">
    <B>(Dollars in thousands, except per share data)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Average Earning Assets/Average Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    92.18
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    93.35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    92.79
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    93.68
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94.86
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94.98
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94.59
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Loans/Deposits
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    78.42
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    84.29
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    78.37
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    85.18
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86.63
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81.15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Total Capital to Risk Weighted Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.24
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.03
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.95
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.84
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.75
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Tier&#160;1 Capital to Risk Weighted Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.89
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.87
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.04
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.93
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.68
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.58
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Tier&#160;1 Capital to Average Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.04
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.57
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.87
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.58
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.20
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.51
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.39
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Tangible Common Equity
    Ratio<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.25
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.57
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.76
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.17
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Non-Performing Loans to Total Loans
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.76
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.68
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.66
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.97
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.46
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.34
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.39
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Non-Performing Assets to Total Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.04
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.03
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.61
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.21
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.25
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Allowance for Loan Losses/Total Loans
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.21
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.14
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Allowance for Loan Losses/Nonperforming Loans
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    76.54
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    60.83
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    73.25
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    104.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    231.22
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    324.85
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    290.57
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Annualized Net Charge-Offs to Average Net Loans Outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.32
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.71
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.14
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Dividend Payout Rate
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    47.82
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82.18
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    120.07
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    140.24
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    115.14
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Noninterest income includes a securities impairment charge of
    approximately $74,000, $2.71&#160;million and $873,000,
    respectively, for the years ended December&#160;31, 2009, 2008
    and 2007.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    The tangible common equity ratio is calculated by dividing total
    common stockholders&#146; equity by total assets, after reducing
    both amounts by intangible assets. The tangible common equity
    ratio is not required by generally accepted accounting
    principles (&#147;GAAP&#148;) or by applicable bank regulatory
    requirements, but is a metric used by management to evaluate the
    adequacy of our capital levels. Since there is no authoritative
    requirement to calculate the tangible common equity ratio, our
    tangible common equity ratio is not necessarily comparable to
    similar capital measures disclosed or used by other companies in
    the financial services industry. Tangible common equity and
    tangible assets are non-GAAP financial measures and should be
    considered in addition to, not as a substitute for or superior
    to, financial measures determined in accordance with GAAP. With
    respect to the calculation of the actual unaudited tangible
    common equity ratio as of March&#160;31, 2010 and 2009,
    reconciliations of tangible common equity to GAAP total common
    stockholders&#146; equity and tangible assets to GAAP total
    assets are set forth below:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Reconciliation
    of Common Stockholders&#146; Equity to Tangible Common
    Stockholders&#146; Equity and Total Assets to Tangible
    Assets</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="41%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="7" nowrap align="center" valign="bottom">
    <B>As of and for the<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="19" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="7" nowrap align="center" valign="bottom">
    <B>Three Months Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="19" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="7" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="19" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As of and for the Year Ended December&#160;31,</B>
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2005</B>
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="27" nowrap align="center" valign="bottom">
    <B>(Dollars in thousands)</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Common Stockholders&#146; Equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    82,257
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    78,457
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    80,628
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    77,102
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    73,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    76,223
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    75,864
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Less Goodwill and other intangibles
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,355
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,919
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Tangible Common Stockholders&#146; Equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    74,902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    70,538
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    73,128
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    77,102
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    73,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    76,223
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    75,864
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Reconciliation of Total Assets to Tangible Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,040,211
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    939,360
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,014,808
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    880,370
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    798,236
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    821,584
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    827,069
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Less Goodwill and other intangibles
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,355
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,919
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Tangible Assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,032,856
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    931,441
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,007,308
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    880,370
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    798,236
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    821,584
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    827,069
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

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</DIV>

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    8
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">RISK
    FACTORS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>An investment in our common shares involves
    risks.&#160;&#160;You should consider carefully the risk factors
    included below as well as those discussed under the caption
    &#147;Risk Factors&#148; in our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2009, together with all of
    the other information included in, or incorporated by reference
    into this prospectus before making a decision to invest in the
    common shares. Some of these factors relate principally to our
    business. The risks and uncertainties described below are not
    the only ones facing us. Additional risks and uncertainties not
    presently known to us or that we currently deem immaterial may
    also have a material adverse effect on our business and
    operations. If any of the matters included in the following
    risks were to occur, our business, financial condition, results
    of operations, cash flows or prospects could be materially
    adversely affected. In such case, you may lose all or part of
    your original investment.</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Risks
    Related to Our Business</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Difficult
    market conditions and economic trends have adversely affected
    our industry and our business.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The capital markets continued to experience difficult conditions
    through 2009 and into 2010, producing uncertainty in the
    financial markets in general and a related general economic
    downturn. Dramatic declines in the housing market that resulted
    in decreasing home prices and increasing delinquencies and
    foreclosures negatively impacted the credit performance of
    mortgage and construction loans and resulted in significant
    write-downs of assets by many financial institutions. In
    addition, the values of real estate collateral supporting many
    loans have declined and may continue to decline. These general
    downward economic trends, the reduced availability of commercial
    credit and increasing unemployment have all negatively impacted
    the credit performance of commercial and consumer credit and
    resulted in additional write-downs. Concerns over the stability
    of the financial markets and the economy have resulted in
    decreased lending by financial institutions to their customers
    and to each other. This market turmoil and tightening of credit
    has led to increased commercial and consumer deficiencies, lack
    of customer confidence, increased market volatility and
    widespread reduction in general business activity. The resulting
    economic pressure on consumers and businesses and the lack of
    confidence in the financial markets have adversely affected our
    business, financial condition, results of operations and stock
    price and may continue to do so. Also, our ability to assess the
    creditworthiness of customers and to estimate the losses
    inherent in our credit exposure is made more complex by these
    difficult market and economic conditions. Business activity
    across a wide range of industries and regions is greatly reduced
    and local governments and many companies are in serious
    difficulty due to the lack of consumer spending and the lack of
    liquidity in the credit markets. Any worsening of current
    conditions or slowing of any economic recovery would have an
    adverse effect on us, our customers and the other financial
    institutions in our market. As a result, we may experience
    increases in foreclosures, delinquencies and customer
    bankruptcies.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    indirect lending exposes us to increased credit
    risks.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A portion of our current lending involves the purchase of
    consumer automobile installment sales contracts from automobile
    dealers located in Northeastern Ohio. As of March&#160;31, 2010,
    we had approximately $120.26&#160;million of indirect loans
    outstanding, or approximately 19.74% of our loan portfolio.
    These loans are for the purchase of new or late model used cars.
    We serve customers over a broad range of creditworthiness and
    the required terms and rates are reflective of those risk
    profiles. While these loans have higher yields than many of our
    other loans, they involve significant risks in addition to
    normal credit risk. Potential risk elements associated with
    indirect lending include the limited personal contact with the
    borrower as a result of indirect lending through dealers, the
    absence of assured continued employment of the borrower, the
    varying general creditworthiness of the borrower, changes in the
    local economy and difficulty in monitoring collateral. While
    indirect automobile loans are secured, they are secured by
    depreciating assets and characterized by loan to value ratios
    that could result in Farmers Bank not recovering the full value
    of an outstanding loan upon default by the borrower. Due to the
    economic slowdown in our primary market area, we are currently
    experiencing higher delinquencies, charge-offs and repossessions
    of vehicles in this portfolio. If the economy continues to
    contract, we may continue to experience higher levels of
    delinquencies, repossessions and charge-offs.
</DIV>
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    <BR>
    9
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    have significant exposure to risks associated with commercial
    and residential real estate.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A substantial portion of our loan portfolio consists of
    commercial and residential real estate-related loans, including
    real estate development, construction and residential and
    commercial mortgage loans. As of March&#160;31, 2010, we had
    approximately $215.88&#160;million of commercial real estate
    loans outstanding, which represented approximately 35.44% of our
    loan portfolio. As of that same date, we had approximately
    $180.72&#160;million in residential real estate loans
    outstanding, or approximately 29.67% of our loan portfolio.
    Consequently, real estate-related credit risks are a significant
    concern for us. The adverse consequences from real
    estate-related credit risks tend to be cyclical and are often
    driven by national economic developments that are not
    controllable or entirely foreseeable by us or our borrowers.
    General difficulties in our real estate markets have recently
    contributed to increases in our non-performing loans,
    charge-offs, and decreases in our income.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Commercial
    and industrial loans may expose us to greater financial and
    credit risk than other loans.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our commercial and industrial loan portfolio was approximately
    $80.34&#160;million at March&#160;31, 2010, comprising
    approximately 13.19% of our loan portfolio. Commercial and
    industrial loans generally carry larger loan balances and can
    involve a greater degree of financial and credit risk than other
    loans. Any significant failure to pay on time by our customers
    would hurt our earnings. The increased financial and credit risk
    associated with these types of loans are a result of several
    factors, including the concentration of principal in a limited
    number of loans and borrowers, the size of loan balances, the
    effects of general economic conditions on income-producing
    properties and the increased difficulty of evaluating and
    monitoring these types of loans. In addition, when underwriting
    a commercial or industrial loan, the we may take a security
    interest in commercial real estate, and, in some instances upon
    a default by the borrower, we may foreclose on and take title to
    the property, which may lead to potential financial risks for us
    under applicable environmental laws. If hazardous substances
    were discovered on any of these properties, we may be liable to
    governmental agencies or third parties for the costs of
    remediation of the hazard, as well as for personal injury and
    property damage. Many environmental laws can impose liability
    regardless of whether we knew of, or were responsible for, the
    contamination.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Changes
    in interest rates may negatively affect our earnings and the
    value of our assets.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our earnings and cash flows depend substantially upon our net
    interest income. Net interest income is the difference between
    interest income earned on interest-earnings assets, such as
    loans and investment securities, and interest expense paid on
    interest-bearing liabilities, such as deposits and borrowed
    funds. Interest rates are sensitive to many factors that are
    beyond our control, including general economic conditions,
    competition and policies of various governmental and regulatory
    agencies and, in particular, the policies of the Federal Reserve
    Board. Changes in monetary policy, including changes in interest
    rates, could influence not only the interest we receive on loans
    and investment securities and the amount of interest they pay on
    deposits and borrowings, but such changes could also affect:
    (1)&#160;our ability to originate loans and obtain deposits;
    (2)&#160;the fair value of our financial assets and liabilities,
    including our securities portfolio; and (3)&#160;the average
    duration of our interest-earning assets. This also includes the
    risk that interest-earning assets may be more responsive to
    changes in interest rates than interest-bearing liabilities, or
    vice versa (repricing risk), the risk that the individual
    interest rates or rates indices underlying various
    interest-earning assets and interest-bearing liabilities may not
    change in the same degree over a given time period (basis risk),
    and the risk of changing interest rate relationships across the
    spectrum of interest-earning asset and interest-bearing
    liability maturities (yield curve risk), including a prolonged
    flat or inverted yield curve environment. Any substantial,
    unexpected, prolonged change in market interest rates could have
    a material adverse affect on our financial condition and results
    of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    allowance for loan losses may not be adequate to cover actual
    future losses.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We maintain an allowance for loan losses to cover probable and
    incurred loan losses. Every loan we make carries a certain risk
    of non-repayment, and we make various assumptions and judgments
    about the collectibility of our loan portfolio including the
    creditworthiness of our borrowers and the value of the real
</DIV>
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    <BR>
    10
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    estate and other assets serving as collateral for the repayment
    of loans. Through a periodic review and consideration of the
    loan portfolio, management determines the amount of the
    allowance for loan losses by considering general market
    conditions, credit quality of the loan portfolio, the collateral
    supporting the loans and performance of customers relative to
    their financial obligations with us. The amount of future losses
    is susceptible to changes in economic, operating and other
    conditions, including changes in interest rates, which may be
    beyond our control, and these losses may exceed current
    estimates. We cannot fully predict the amount or timing of
    losses or whether the loss allowance will be adequate in the
    future. If our assumptions prove to be incorrect, our allowance
    for loan losses may not be sufficient to cover losses inherent
    in our loan portfolio, resulting in additions to the allowance.
    Excessive loan losses and significant additions to our allowance
    for loan losses could have a material adverse impact on our
    financial condition and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    be required to make further increases in our provisions for loan
    losses and to charge off additional loans in the future, which
    could materially adversely affect us.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    There is no precise method of predicting loan losses. We can
    give no assurance that our allowance for loan losses is or will
    be sufficient to absorb actual loan losses. We maintain an
    allowance for loan losses, which is a reserve established
    through a provision for loan losses charged to expense, that
    represents management&#146;s best estimate of probable incurred
    losses within the existing portfolio of loans. The level of the
    allowance reflects management&#146;s evaluation of, among other
    factors, the status of specific impaired loans, trends in
    historical loss experience, delinquency trends, credit
    concentrations and economic conditions within our market area.
    The determination of the appropriate level of the allowance for
    loan losses inherently involves a high degree of subjectivity
    and judgment and requires us to make significant estimates of
    current credit risks and future trends, all of which may undergo
    material changes. Changes in economic conditions affecting
    borrowers, new information regarding existing loans,
    identification of additional problem loans and other factors,
    both within and outside of our control, may require us to
    increase our allowance for loan losses. Increases in
    nonperforming loans have a significant impact on our allowance
    for loan losses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In addition, bank regulatory agencies periodically review our
    allowance for loan losses and may require us to increase the
    provision for loan losses or to recognize further loan
    charge-offs, based on judgments that differ from those of
    management. If loan charge-offs in future periods exceed our
    allowance for loan losses, we will need to record additional
    provisions to increase our allowance for loan losses.
    Furthermore, growth in our loan portfolio would generally lead
    to an increase in the provision for loan losses. Generally,
    increases in our allowance for loan losses will result in a
    decrease in net income and stockholders&#146; equity, and may
    have a material adverse effect on our financial condition,
    results of operations and cash flows. Material additions to our
    allowance could also materially decrease our net income.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Changes
    in interest rates could adversely affect our income and
    financial condition.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our income and cash flow depends to a great extent on the
    difference between the interest earned on loans and investment
    securities, and the interest paid on deposits and other
    borrowings<I>.</I> An increase in the general level of interest
    rates may adversely affect the ability of some borrowers to pay
    the interest and principal of their loans, especially borrowers
    with loans that have adjustable rates of interest. Interest
    rates are beyond our control, and they fluctuate in response to
    general economic conditions and the policies of various
    governmental and regulatory agencies, in particular the Federal
    Reserve Board. Changes in monetary policy, including changes in
    interest rates, will influence the origination of loans, the
    purchase of investments, the generation of deposits and the
    rates received on loans and investment securities and paid on
    deposits.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Changes
    in economic and political conditions could adversely affect our
    earnings.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our success depends, to a certain extent, upon economic and
    political conditions, local and national, as well as
    governmental monetary policies. Conditions such as inflation,
    recession, unemployment, changes in interest rates, money supply
    and other factors beyond our control may adversely affect our
    asset quality, deposit levels and loan demand and, therefore,
    our earnings. Because we have a significant amount of real
    estate loans, additional decreases in real estate values could
    adversely affect the value of property used as collateral and
    our ability to sell the collateral upon foreclosure. Adverse
    changes in the economy may also
</DIV>
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    have a negative effect on the ability of our borrowers to make
    timely repayments of their loans, which would have an adverse
    impact on our earnings. If during a period of reduced real
    estate values we are required to liquidate the collateral
    securing a loan to satisfy the debt or to increase our allowance
    for loan losses, it could materially reduce our profitability
    and adversely affect our financial condition. The substantial
    majority of our loans are to individuals and businesses in Ohio.
    Consequently, further significant declines in the economy in
    Ohio could have a materially adverse effect on our financial
    condition and results of operations. It is uncertain when the
    negative credit trends in our market will reverse and,
    therefore, future earnings are susceptible to further declining
    credit conditions in the market in which we operate.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Additional
    required capital may not be available.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We are required by federal regulatory authorities to maintain
    adequate levels of capital to support our operations. In
    addition, we may elect to raise additional capital to support
    our business or to finance acquisitions, if any, or we may
    otherwise elect or be required to raise additional capital. In
    that regard, a number of financial institutions have recently
    raised considerable amounts of capital in response to a
    deterioration in their results of operations and financial
    condition arising from the turmoil in the mortgage loan market,
    deteriorating economic conditions, declines in real estate
    values and other factors. Our ability to raise additional
    capital, if needed, will depend on conditions in the capital
    markets, economic conditions and a number of other factors, many
    of which are outside of our control, and on our financial
    performance. Accordingly, there can be no assurance that we can
    raise additional capital if needed or on terms acceptable to us.
    If we cannot raise additional capital when needed, it may have a
    material adverse effect on our financial condition, results of
    operations and prospects.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Failure
    to satisfy our individual minimum capital requirements could
    result in enforcement action against us, which could negatively
    affect our results of operations and financial
    condition.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The OCC has imposed individual minimum capital requirements that
    require Farmers Bank to maintain capital levels in excess of
    what would otherwise be required under applicable law. The OCC
    has targeted Farmers Bank to meet the following individual
    minimum capital requirements by September&#160;30, 2010:
    Tier&#160;I Capital to Adjusted Total Assets of 7.20% and Total
    Capital to Risk-Weighted Assets of 11.00%. At March&#160;31,
    2010, Farmers Bank&#146;s Tier&#160;1 Capital to Adjusted Total
    Assets was approximately 6.68% and Total Capital to
    Risk-Weighted Assets was approximately 11.50%. Failure to comply
    with the individual minimum capital requirements in the time
    frames provided, or at all, could result in enforcement orders
    or penalties from our regulators, which could have a material
    adverse effect on our business, financial condition and results
    of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Legislative
    or regulatory changes or actions, or significant litigation,
    could adversely impact us or the businesses in which we are
    engaged.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The financial services industry is extensively regulated. We are
    subject to extensive state and federal regulation, supervision
    and legislation that govern almost all aspects of our
    operations. Laws and regulations may change from time to time
    and are primarily intended for the protection of consumers,
    depositors and the deposit insurance funds, and not to benefit
    our shareholders. The impact of any changes to laws and
    regulations or other actions by regulatory agencies may
    negatively impact us or our ability to increase the value of our
    business. Regulatory authorities have extensive discretion in
    connection with their supervisory and enforcement activities,
    including the imposition of restrictions on the operation of an
    institution, the classification of assets by the institution and
    the adequacy of an institution&#146;s allowance for loan losses.
    Additionally, actions by regulatory agencies or significant
    litigation against us could require us to devote significant
    time and resources to defending our business and may lead to
    penalties that materially affect us and our shareholders.
</DIV>
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    extend credit to a variety of customers based on internally
    established standards and judgment. We manage credit risk
    through a program of underwriting standards, the review of
    certain credit decisions and an on-going process of assessment
    of the quality of the credit already extended. Our credit
    standards and on-going process of credit assessment might not
    protect us from significant credit losses.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We take credit risk by virtue of making loans and leases,
    extending loan commitments and letters of credit and, to a
    lesser degree, purchasing non-governmental securities. Our
    exposure to credit risk is managed through the use of consistent
    underwriting standards that emphasize &#147;in-market&#148;
    lending while avoiding highly leveraged transactions as well as
    excessive industry and other concentrations. Our credit
    administration function employs risk management techniques to
    ensure that loans and leases adhere to corporate policy and
    problem loans and leases are promptly identified. While these
    procedures are designed to provide us with the information
    needed to implement policy adjustments where necessary, and to
    take proactive corrective actions, there can be no assurance
    that such measures will be effective in avoiding undue credit
    risk.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Future
    FDIC premiums could be substantially higher and would have an
    unfavorable effect on earnings.</FONT></I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The FDIC projects higher premiums to be necessary because
    financial institution failures resulting from the depressed
    market conditions have depleted and may continue to deplete the
    deposit insurance fund and reduce its ratio of reserves to
    insured deposits. The FDIC, in an effort to avoid larger
    increases in the premiums, has already taken action to collect
    FDIC premiums for the next three years in advance. If any
    additional assessments or large premium increases occur in the
    future, they would negatively affect our financial condition and
    results of operation.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    depend on our subsidiaries for dividends, distributions and
    other payments.</FONT></I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As a bank holding company, we are a legal entity separate and
    distinct from our subsidiaries<I>.</I> Our principal source of
    funds to pay dividends on our common shares is dividends from
    these subsidiaries. In the event our subsidiaries become unable
    to pay dividends to us, we may not be able to pay dividends on
    our common shares. Accordingly, our inability to receive
    dividends from our subsidiaries could also have a material
    adverse effect on our business, financial condition and results
    of operations.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Federal and state statutory provisions and regulations limit the
    amount of dividends that our banking and other subsidiaries may
    pay to us without regulatory approval. Our banking subsidiaries
    generally may not, without prior regulatory approval, pay a
    dividend in an amount greater than their undivided profits. In
    addition, the prior approval of the OCC is required for the
    payment of a dividend by Farmers Bank if the total of all
    dividends declared in a calendar year would exceed the total of
    its retained net income for the year combined with its retained
    net income for the two preceding years. The Federal Reserve
    Board and the OCC have issued policy statements that provide
    that insured banks and bank holding companies should generally
    only pay dividends out of current operating earnings. The
    ability of Farmers Bank to pay dividends in the future is
    currently influenced, and could be further influenced, by bank
    regulatory policies and capital guidelines and may restrict our
    ability to declare and pay dividends.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    not be able to attract and retain skilled people.</FONT></I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our success depends, in large part, on our ability to attract
    and retain key people. Competition for the best people in most
    activities in which we engage can be intense, and we may not be
    able to retain or hire the people we want or need. In order to
    attract and retain qualified employees, we must compensate our
    employees at market levels. If we are unable to continue to
    attract and retain qualified employees, or do so at rates
    necessary to maintain our competitive position, our performance,
    including our competitive position, could suffer, and, in turn,
    adversely affect our business, financial condition and results
    of operations.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    be adversely impacted by weakness in the local economies we
    serve.</FONT></I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our business activities are geographically concentrated in
    Northeast Ohio and, in particular, Mahoning, Trumbull and
    Columbiana County, Ohio, where commercial activity has
    deteriorated at a greater rate than in other parts of Ohio and
    in the national economy. This has led to and may lead to further
    unexpected deterioration in loan quality, and slower asset and
    deposit growth, which may adversely affect our business,
    financial condition and results of operations.
</DIV>
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    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    soundness of other financial institutions could adversely affect
    us.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our ability to engage in routine funding transactions could be
    adversely affected by the actions and commercial soundness of
    other financial institutions. Financial services institutions
    are interrelated as a result of trading, clearing, counterparty
    or other relationships. We have exposure to many different
    industries and counterparties, and we routinely execute
    transactions with counterparties in the financial industry. As a
    result, defaults by, or even rumors or questions about, one or
    more financial services institutions, or the financial services
    industry generally, have led to market-wide liquidity problems
    and could lead to losses or defaults by us or by other
    institutions. Many of these transactions expose us to credit
    risk in the event of default of our counterparty or client. In
    addition, our credit risk may be exacerbated when the collateral
    that we hold cannot be realized upon or is liquidated at prices
    insufficient to recover the full amount of the loan. We cannot
    assure you that any such losses would not materially and
    adversely affect our business, financial condition or results of
    operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Impairment
    of investment securities, goodwill, other intangible assets, or
    deferred tax assets could require charges to earnings, which
    could result in a negative impact on our results of
    operations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In assessing the impairment of investment securities, we
    consider the length of time and extent to which the fair value
    has been less than cost, the financial condition and near-term
    prospects of the issuers, whether the market decline was
    affected by macroeconomic conditions and whether we have the
    intent to sell the debt security or will be required to sell the
    debt security before its anticipated recovery. Under current
    accounting standards, goodwill and certain other intangible
    assets with indeterminate lives are no longer amortized but,
    instead, are assessed for impairment periodically or when
    impairment indicators are present. Assessment of goodwill and
    such other intangible assets could result in circumstances where
    the applicable intangible asset is deemed to be impaired for
    accounting purposes. Under such circumstances, the intangible
    asset&#146;s impairment would be reflected as a charge to
    earnings in the period. Deferred tax assets are only recognized
    to the extent it is more likely than not they will be realized.
    Should our management determine it is not more likely than not
    that the deferred tax assets will be realized, a valuation
    allowance with a change to earnings would be reflected in the
    period.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">A
    substantial decline in the value of our Federal Home Loan Bank
    of Cincinnati common stock may adversely affect our financial
    condition.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We own common stock of the Federal Home Loan Bank of Cincinnati
    (the &#147;FHLB&#148;), in order to qualify for membership in
    the Federal Home Loan Bank system, which enables us to borrow
    funds under the Federal Home Loan Bank advance program. The
    carrying value of our FHLB common stock was approximately
    $3.1&#160;million as of December&#160;31, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Published reports indicate that certain member banks of the
    Federal Home Loan Bank system may be subject to asset quality
    risks that could result in materially lower regulatory capital
    levels. In December 2008, certain member banks of the Federal
    Home Loan Bank system (other than the FHLB) suspended dividend
    payments and the repurchase of capital stock until further
    notice. In an extreme situation, it is possible that the
    capitalization of a Federal Home Loan Bank, including the FHLB,
    could be substantially diminished or reduced to zero.
    Consequently, given that there is no market for our FHLB common
    stock, we believe that there is a risk that our investment could
    be deemed
    <FONT style="white-space: nowrap">other-than-temporarily</FONT>
    impaired at some time in the future. If this occurs, it may
    adversely affect our results of operations and financial
    condition. If the FHLB were to cease operations, or if we were
    required to write-off our investment in the FHLB, our business,
    financial condition, liquidity, capital and results of
    operations may be materially adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    business strategy includes significant growth plans. Our
    financial condition and results of operations could be
    negatively affected if we fail to grow or fail to manage our
    growth effectively.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We intend to continue pursuing a profitable growth strategy both
    within our existing markets and in new markets. Our prospects
    must be considered in light of the risks, expenses and
    difficulties frequently encountered by companies in significant
    growth stages of development. We cannot assure you that we will
    be
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    able to expand our market presence in our existing markets or
    successfully enter new markets or that any such expansion will
    not adversely affect our results of operations. Failure to
    manage our growth effectively could have a material adverse
    effect on our business, future prospects, financial condition or
    results of operations and could adversely affect our ability to
    successfully implement our business strategy. Also, if we grow
    more slowly than anticipated, our operating results could be
    materially adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Risks
    Related to an Investment in Our Common Shares</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    common shares represent equity interests in Farmers and rank
    junior to all of our existing and future indebtedness.
    Regulatory, statutory and contractual restrictions may limit or
    prevent us from paying dividends on our common shares and there
    is no limitation on the amount of indebtedness we may incur in
    the future.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our common shares are equity interests in Farmers. As such, our
    common shares rank junior to all of our indebtedness and to
    other non-equity claims with respect to assets available to
    satisfy claims on Farmers, including in a liquidation.
    Additionally, unlike indebtedness, for which principal and
    interest customarily are payable on specified due dates, in the
    case of our common shares: (1)&#160;dividends are payable only
    when, as and if authorized and declared by our board and depend
    on, among other things, our results of operations, financial
    condition, debt service requirements, other cash needs and any
    other factors our board deems relevant; and (2)&#160;as an Ohio
    corporation, under Ohio law, we are subject to restrictions on
    payments of dividends out of lawfully available funds. We and
    our subsidiaries may incur substantial amounts of additional
    debt and other obligations that will rank senior to our common
    shares.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    could change or eliminate our historic practice of paying
    dividends in the future.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Holders of our common shares are entitled to receive dividends
    only when, as and if declared by our board. Although we have
    historically paid dividends on our common shares, we are not
    required to do so, and our board could reduce or eliminate
    dividends paid on our common shares in the future. Consequently,
    prospective investors should not expect that future dividends
    will be paid at current levels or at all. Future modifications,
    reductions or the elimination of dividends paid on our common
    shares could adversely affect the market price of our common
    shares.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    low trading volume in our common shares may adversely affect
    your ability to resell shares at prices that you find
    attractive, or at all.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our common shares are traded on the OTCBB. The average daily
    trading volume for our common shares is less than larger
    financial institutions. During the past 12&#160;months, the
    average daily trading volume for our common shares on the OTCBB
    was approximately [&#160;&#149;&#160;]&#160;shares. Due to its
    relatively small trading volume, sales of our common shares may
    place significant downward pressure on the market price of our
    common shares. Furthermore, it may be difficult for holders to
    resell their shares at prices they find attractive, or at all.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    price of our common shares may fluctuate significantly and this
    may make it difficult for you to resell our common shares when
    you want or at prices you find attractive.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The market value of our common shares will likely continue to
    fluctuate in response to a number of factors, most of which are
    beyond our control. The market value of our common shares may
    also be affected by conditions affecting the financial markets
    generally, including the recent volatility of the trading
    markets. These conditions may result in: (1)&#160;fluctuations
    in the market prices of stocks generally and, in turn, our
    common shares; and (2)&#160;sales of substantial amounts of our
    common shares in the market, in each case that could be
    unrelated or disproportionate to changes in our operating
    performance. These broad market fluctuations may adversely
    affect the market value of our common shares. A significant
    decline in our stock price could result in substantial losses
    for shareholders and could lead to costly and disruptive
    securities litigation.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    15
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">There
    may be future sales of additional common shares or preferred
    shares or other dilution of our equity, which may adversely
    affect the market price of our common shares.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Assuming the approval by our shareholders of the proposed
    amendments to our Articles of Incorporation, as amended (the
    &#147;Articles&#148;) described in our proxy statement dated
    May&#160;12, 2010, which is incorporated herein by reference, we
    are not restricted from issuing additional common shares or
    preferred shares, including any securities that are convertible
    into or exchangeable for, or that represent the right to
    receive, common shares or preferred shares or any substantially
    similar securities. The per share value of our common shares
    could decline as a result of sales by us of a large number of
    our common shares or preferred shares or similar securities in
    the market or the perception that such sales could occur.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Anti-takeover
    provisions could negatively impact our
    shareholders.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Provisions of Ohio law, our Articles and our Amended Code of
    Regulations (the &#147;Regulations&#148; and, collectively with
    the Articles, our &#147;Corporate Governance Documents&#148;),
    could make it more difficult for a third party to acquire
    control of us or could have the effect of discouraging a third
    party from attempting to acquire control of us.
</DIV>

<A name='103'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">CAUTIONARY
    NOTE&#160;REGARDING FORWARD-LOOKING STATEMENTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Certain statements contained in, or incorporated by reference
    into, this prospectus are &#147;forward-looking statements&#148;
    within the meaning of the federal securities laws, including,
    without limitation, statements regarding our outlook on
    earnings, asset quality, projected growth, capital position,
    business opportunities in our markets and economic conditions,
    and are based upon management&#146;s beliefs as well as
    assumptions made based on data currently available to
    management. When we use words like &#147;believe,&#148;
    &#147;intend,&#148; &#147;plan,&#148; &#147;may,&#148;
    &#147;continue,&#148; &#147;project,&#148; &#147;would,&#148;
    &#147;expect,&#148; &#147;estimate,&#148; &#147;could,&#148;
    &#147;should,&#148; &#147;will&#148; and similar expressions,
    you should consider them as identifying forward-looking
    statements. These forward-looking statements are not guarantees
    of future performance, and a variety of factors could cause our
    actual results to differ materially from the anticipated or
    expected results expressed in these forward-looking statements.
    Many of these factors are beyond our ability to control or
    predict, and readers are cautioned not to put undue reliance on
    those forward-looking statements. The following list, which is
    not intended to be an all-encompassing list of risks and
    uncertainties affecting us, summarizes several factors that
    could cause our actual results to differ materially from those
    anticipated or expected in these forward-looking statements:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    general economic conditions in market areas where we conduct
    business, which could materially impact credit quality trends;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    business conditions in the banking industry;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the regulatory environment;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    fluctuations in interest rates;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    demand for loans in the market areas where we conduct business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    rapidly changing technology and evolving banking industry
    standards;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    competitive factors, including increased competition with
    regional and national financial institutions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    new service and product offerings by competitors and price
    pressures;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    other like items.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We undertake no obligation to update publicly forward-looking
    statements, whether as a result of new information, future
    events or otherwise, except as may be required by law. You are
    advised, however, to consult any further disclosures we make on
    related subjects in our Annual Reports on
    <FONT style="white-space: nowrap">Form&#160;10-K,</FONT>
    Quarterly Reports on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    and Current Reports on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC. Also note that we provide cautionary
    discussion of risks, uncertainties and assumptions relevant to
    our business in our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K,</FONT>
    our Quarterly Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    and in our Current Reports on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    incorporated by
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    16
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    reference herein. These are factors that, individually or in the
    aggregate, management believes could cause our actual results to
    differ materially from expected and historical results. We note
    these factors for investors as permitted by the Private
    Securities Litigation Reform Act of 1995. You should understand
    that it is not possible to predict or identify all such factors.
    Consequently, you should not consider such disclosures to be a
    complete discussion of all potential risks or uncertainties.
</DIV>

<A name='104'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">USE OF
    PROCEEDS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The net proceeds, after underwriting discounts and commissions
    and estimated expenses, to us from the sale of the common shares
    offered will be approximately $&#160;&#160;&#160;&#160;&#160; on
    (or approximately $&#160;&#160;&#160;&#160;&#160;&#160;million
    if the underwriter exercises its over-allotment option in full).
    We intend to use the net proceeds of this offering for general
    corporate purposes, including a capital contribution to Farmers
    Bank, which will use such amount for its general corporate
    purposes, including, but not limited to, improving its
    regulatory capital position, funding organic loan growth and
    pursuing long-term strategic opportunities.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    17
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='105'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">CAPITALIZATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table sets forth our capitalization as of
    March&#160;31, 2010. Our capitalization is presented on a
    historical basis and on a pro forma basis as if the offering had
    been completed as of March&#160;31, 2010 and assuming the sale
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;common
    shares at a price of $&#160;&#160;&#160;&#160;&#160; per share
    and that the underwriter&#146;s over-allotment option is not
    exercised.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following information should be read in conjunction with our
    consolidated financial statements for the year ended
    December&#160;31, 2009, and the notes thereto, included in our
    Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2009, and the unaudited
    consolidated financial statements for the three months ended
    March&#160;31, 2010, and the notes thereto, included in our
    Quarterly Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the period ended March&#160;31, 2010, each of which is
    incorporated by reference herein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="77%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>As of March&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Actual</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As Adjusted</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>(Unaudited)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>(Dollars in thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Stockholders&#146; Equity:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Common Stock&#160;&#151; Authorized 25,000,000&#160;shares;
    issued 13,546,248 and&#160;&#160;&#160;&#160;&#160;, respectively
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    95,770
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Retained earnings
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,579
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Accumulated other comprehensive income (loss), net of tax
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,411
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Treasury stock, at cost; 2,053,111&#160;shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (25,503
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Total Stockholders&#146; Equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    82,257
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Capital Ratios for Farmers National Banc
    Corp.<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Tier&#160;1 Capital to average assets ratio
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.04
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Tier&#160;1 to risk-weighted assets ratio
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.89
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Total capital to risk-weighted assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.15
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    The as adjusted capital ratios assume the initial deployment of
    the net proceeds of the offering in short term investments
    carrying a 20% risk-weighting under applicable regulations.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    18
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='106'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">MARKET
    FOR COMMON SHARES&#160;AND OUR DIVIDEND POLICY</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our common shares are traded on the OTCBB. The average daily
    trading volume for our common shares is less than larger
    financial institutions. On [&#160;&#149;&#160;], 2010, we
    applied to have our common shares listed on the Nasdaq. During
    the past 12&#160;months, the average daily trading volume for
    our common shares on the OTCBB was approximately
    [&#160;&#149;&#160;]&#160;shares. No assurance can be given that
    a very active trading market will develop in the foreseeable
    future or can be maintained. As of [&#160;&#149;&#160;], 2010,
    we had [&#160;&#149;&#160;] common shares outstanding, held by
    approximately [&#160;&#149;&#160;] holders of record.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table sets forth the high and low closing sales
    prices per common share reported for the periods presented, and
    the cash dividends paid per common share, for the periods shown.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="71%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Quarter Ended</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Cash Dividend</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    June&#160;30, 2010 (through [&#160;&#149;&#160;], 2010)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    [&#160;&#149;&#160;]
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    [&#160;&#149;&#160;]
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    [&#160;&#149;&#160;]
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    March&#160;31, 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.03
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    December&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5.35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    September&#160;30, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4.71
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    June&#160;30, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4.75
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    March&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3.65
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    December&#160;31, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.24
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    September&#160;30, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    June&#160;30, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8.45
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The amount and type (cash or stock), if any, of future dividends
    will be determined by our board and will depend on our earnings,
    financial conditions and other factors considered by our board
    to be relevant. There can be no assurance as to when, or if, our
    board will increase dividends above this level.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Additionally, the payment of cash dividends on our common shares
    will depend largely upon the ability of Farmers Bank to declare
    and pay dividends to us. Farmers Bank&#146;s ability to pay
    dividends will depend primarily upon its earnings, financial
    condition, and need for funds, as well as applicable
    governmental policies. Even if we have earnings in an amount
    sufficient to pay dividends, Farmers Bank&#146;s board of
    directors may determine to retain earnings for the purpose of
    funding growth. Farmers Bank generally pays a dividend to us to
    provide funds for: (1)&#160;dividends the we pay our
    shareholders; treasury share repurchases; and other expenses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    There are various legal limitations with respect to Farmers
    Bank&#146;s ability to pay dividends to us and our ability to
    pay dividends to shareholders. Under the Ohio General
    Corporation Law, we may pay dividends out of surplus, however
    created, but must notify our shareholders if a dividend is paid
    out of capital surplus. Our ability to pay dividends to our
    shareholders is largely dependent on the amount of dividends
    which may be declared and paid to us by our subsidiaries. Under
    Federal banking law, the prior approval of the Federal Reserve
    Board and the OCC may be required in certain circumstances prior
    to the payment of dividends by us or Farmers Bank. The OCC has
    the authority to prohibit a national bank from paying dividends
    if such payment is deemed to be an unsafe or unsound practice,
    and the Federal Reserve Board has the same authority over bank
    holding companies.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Federal Reserve Board has established guidelines with
    respect to the maintenance of appropriate levels of capital by
    registered bank holding companies. Compliance with such
    standards, as presently in effect, or as they may be amended
    from time to time, could possibly limit the amount of dividends
    that we may pay in the future. The Federal Reserve Board&#146;s
    guidelines generally require us to review the effects of the
    cash payment of dividends on common stock and other Tier&#160;1
    capital instruments (i.e., perpetual preferred stock and trust
    preferred debt) on our financial condition. The guidelines also
    require that we review our net income.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Any future determination to pay dividends will be at the
    discretion of our board, subject to applicable limitations under
    Ohio law, and will be dependent upon our results of operations,
    financial condition, contractual restrictions and other factors
    deemed relevant by our board.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    19
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='107'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF CAPITAL STOCK</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>The following description of our capital stock assumes
    approval by our shareholders of the proposed amendments to our
    Articles described in the proxy statement dated May&#160;12,
    2010, which is incorporated herein by reference</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Upon completion of this offering, our authorized capital stock
    will consist of 24,000,000&#160;common shares and 1,000,000
    preferred shares. Immediately prior to this offering, there were
    [&#160;&#149;&#160;] of our common shares outstanding and no
    preferred shares outstanding. At that time, there were
    approximately [&#160;&#149;&#160;] holders of record of our
    common shares. In addition, immediately prior to this offering,
    there were options to purchase [&#160;&#149;&#160;] common
    shares. Assuming the sale
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;common
    shares in this offering, we will have a total
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;common
    shares and no preferred shares outstanding immediately following
    this offering.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Common
    Shares</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each outstanding common share is entitled to one vote on all
    matters submitted to a vote of shareholders. Shareholders do not
    have the right to vote cumulatively in the election of
    directors. Subject to any superior rights of any holders of
    preferred shares, each outstanding common share will be entitled
    to such dividends as may be declared from time to time by our
    board of directors out of legally available funds. In the event
    of our liquidation, dissolution or winding up, holders of our
    common shares will be entitled to their proportionate share of
    any assets remaining after payment of liabilities and any
    amounts due to the holders of preferred stock. Holders of our
    common shares have no preemptive rights and no right to convert
    or exchange their common shares into any other securities. No
    preemptive rights, redemption or sinking fund provisions apply
    to our common shares. All outstanding common shares are, and all
    common shares to be outstanding upon completion of this offering
    will be, fully paid and non-assessable. In addition to
    the&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;common
    shares that will be outstanding upon the closing of this
    offering, as of [&#160;&#149;&#160;], 2010, employee stock
    options to purchase up to [&#160;&#149;&#160;] common shares
    were exercisable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Preferred
    Shares</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our board is authorized, without shareholder approval, to issue
    up to 1,000,000 preferred shares in one or more series and to
    fix the rights, preferences, privileges and restrictions granted
    to or imposed upon the preferred shares, including voting
    rights, dividend rights, conversion rights, terms of redemption,
    liquidation preference, sinking fund terms and the number of
    shares constituting any series or the designation of a series.
    Our board can, without shareholder approval, issue preferred
    shares with voting and conversion rights that could adversely
    affect the voting power of the holders of common shares. Any
    preferred shares issued would also rank senior to our common
    shares as to rights upon liquidation,
    <FONT style="white-space: nowrap">winding-up</FONT>
    or dissolution. The issuance of convertible preferred shares
    could have the effect of delaying, deferring or preventing a
    change in control of our company. We have no present plan to
    issue any preferred shares.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Authorized
    but Unissued Capital Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The authorized but unissued common shares and preferred shares
    may be issued without further shareholder approval. These shares
    may be used for a variety of corporate purposes, including
    future private or public offerings, to raise additional capital
    or facilitate acquisitions. The existence of authorized but
    unissued common shares and preferred shares could render more
    difficult or discourage an attempt to obtain control of us by
    means of a merger, tender offer, proxy context or otherwise.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Anti-takeover
    Effects of our Charter Documents and Ohio Law</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    There are provisions in our Corporate Governance Documents, and
    in the Ohio General Corporation Law (the &#147;OGCL&#148;) that
    could discourage potential takeover attempts and make attempts
    by shareholders to change
</DIV>
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    <BR>
    20
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    management more difficult. These provisions could adversely
    affect the market price of our shares. In addition to our
    preferred shares described above:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Classified Board of Directors.</I>&#160;&#160;Our Articles
    provide for our board to be divided into three classes of
    directors, as nearly equal in number as possible, serving
    staggered terms. Approximately one-third of our board will be
    elected by the shareholders each year. This classification
    system makes it more difficult to replace a majority of the
    directors and may tend to discourage a third-party from making a
    tender offer or otherwise attempting to gain control of us. It
    also may maintain the incumbency of our board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Business Combinations.</I>&#160;&#160;Subject to certain
    exceptions, our Articles prohibit us from consummating a
    &#147;Business Combination&#148; except with the approval by the
    affirmative vote of the holders of shares entitling them to
    exercise at least 80% of the voting power. In the case of any
    Business Combination that has been approved by a vote of at
    least two-thirds of our disinterested directors, and which those
    directors have determined to be fair and equitable to all
    shareholders, may be consummated with the approval by the
    affirmative vote of the holders of shares entitling them to
    exercise at least two-thirds of the voting power. Our Articles
    define a &#147;Business Combination&#148; to mean any:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    merger or consolidation of Farmers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    sale, lease exchange, transfer or other disposition of all or
    substantially all of our assets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    adoption of any plan of liquidation and dissolution of
    Farmers;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reclassification of securities, recapitalization or
    reorganization which would increase, directly or indirectly, the
    proportionate equity interest or control by an acquiring entity
    (excluding any such transaction with an entity controlled by us).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Acquisitions of More Than 10% of Our Voting
    Power.</I>&#160;&#160;Subject to certain exceptions, our
    Articles provide that in no event may any person seek to acquire
    directly or indirectly, common shares which would entitle such
    acquiring entity, immediately after such acquisition, either
    directly or indirectly, alone or with others, to exercise or
    direct the exercise of 10% or more of the voting power of
    Farmers (a &#147;control share acquisition&#148;) unless
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    prior approval at a special meeting of shareholders is given by
    an affirmative vote of the holders of shares entitling them to
    exercise at least 80% of the voting power and by the affirmative
    vote of the holders of shares entitling them to exercise at
    least 80% of that portion of such voting power excluding:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares which are already owned by the acquiring entity;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares which the acquiring entity has the right to vote,
    acquire, or control;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares owned by our employees who are also our directors&#160;or
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the board, by a vote of at least two-thirds of the entire board,
    determines that the proposed control share acquisition will be
    made to all of our shareholders at the same time on a uniform
    and fair basis, for all of the outstanding shares other than
    those shares which are already owned by the acquiring entity),
    and prior approval a special meeting of shareholders to is given
    by an affirmative vote of the holders of shares entitling them
    to exercise at least a two-thirds majority of the voting power
    and by the affirmative vote of the holders of shares entitling
    them to exercise at least a two-thirds majority of such voting
    power excluding:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares which are already owned by the acquiring entity;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares which the acquiring entity has the right to vote,
    acquire, or control;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares owned by our employees who are also our directors.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The board must call a special meeting of shareholders for voting
    on the proposed control share acquisition to be held within
    50&#160;days after the receipt by us of a statement from the
    acquiring entity providing certain information as set forth in
    the Articles, including that the acquiring entity has received
    all necessary regulatory approvals and consents to make such
    control share acquisition and that the proposed control share
    acquisition,
</DIV>
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    <BR>
    21
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    if consummated, will not be contrary to law. The board has no
    obligation to call such a meeting if it determines in good faith
    by a vote of at least two-thirds of the entire board that the
    proposed control share acquisition is contrary to law or cannot
    be consummated for financial reasons. Any control share
    acquisition which is authorized as set out above must be
    consummated in accordance with the terms set forth in the
    acquiring entity&#146;s statement to us within 180&#160;days
    following such shareholder approval.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Any shares acquired in a control share acquisition not
    authorized as provided above will be excluded from voting in any
    subsequent meeting of the shareholders. Additionally, the
    Secretary will direct the transfer agent to refuse to transfer
    shares on our books which represent shares acquired in a control
    share acquisition not authorized as provided above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Ohio Merger Moratorium Statute.</I>&#160;&#160;We are an
    &#147;issuing public corporation&#148; as defined under Ohio
    law. Chapter&#160;1704 of the OGCL governs transactions between
    an issuing public corporation&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an &#147;interested shareholder,&#148; which, generally, means
    someone who becomes a beneficial owner of 10% or more of the
    shares of the corporation without the prior approval of the
    board of directors of the corporation;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    persons affiliated or associated with an interested shareholder.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For at least three years after an interested shareholder becomes
    such, the following transactions are prohibited if they involve
    both the issuing public corporation and either an interested
    shareholder or anyone affiliated or associated with an
    interested shareholder:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the disposition or acquisition of any interest in assets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    mergers, consolidations, combinations and majority share
    acquisitions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    voluntary dissolutions or liquidations; and the issuance or
    transfer of shares or any rights to acquire shares in excess of
    5% of the outstanding shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Subsequent to the three-year period, these transactions may take
    place provided that either of the following conditions are
    satisfied:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the transaction is approved by the holders of shares with at
    least two-thirds of the voting power of the corporation, or a
    different proportion set forth in the articles of incorporation,
    including at least a majority of the outstanding shares after
    excluding shares controlled by the interested
    shareholder;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the business combination results in shareholders, other than the
    interested shareholder, receiving a fair price, as determined by
    Section&#160;1704.03(A)(4), for their shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If, prior to the acquisition of shares by which a person becomes
    an interested shareholder, the board of directors of the
    corporation approves the transaction by which the person would
    become an interested shareholder, then Chapter&#160;1704&#146;s
    prohibition does not apply. The prohibition imposed by
    Chapter&#160;1704 continues indefinitely after the initial
    three-year period unless the subject transaction is approved by
    the requisite vote of the shareholders or satisfies statutory
    conditions relating to the fairness of consideration received by
    shareholders, other than the interested shareholder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Chapter&#160;1704 does not apply to a corporation if its
    articles of incorporation or code of regulations state that it
    does not apply. We have not opted out of the application of this
    statute.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Ohio Control Share Statute.</I>&#160;&#160;We are subject to
    Section&#160;1701.831 of the Ohio Revised Code, which requires
    the prior authorization of the shareholders of an issuing public
    corporation in order for any person to acquire, either directly
    or indirectly, shares of that corporation that would entitle the
    acquiring person to exercise or direct the exercise of one-fifth
    or more of the voting power of that corporation in the election
    of directors or to exceed specified other percentages of voting
    power.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A person proposing to make an acquisition of our shares subject
    to the statute must deliver to the corporation a statement
    disclosing, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the number of shares owned, directly or indirectly, by the
    person;
</TD>
</TR>

</TABLE>
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    <BR>
    22
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the range of voting power that may result from the proposed
    acquisition;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    and the identity of the acquiring person.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Within 10&#160;days after receiving this statement, the
    corporation must call a special meeting of shareholders to vote
    on the proposed acquisition. The acquiring person may complete
    the proposed acquisition only if the acquisition is approved by
    the affirmative vote of the holders of at least a majority of
    the voting power of all shares entitle to vote in the election
    of directors represented at the meeting excluding the voting
    power of all &#147;interested shares.&#148; Interested shares
    include any shares held by the acquiring person and those held
    by officers and directors of the corporation as well as by
    certain others, including many holders commonly characterized as
    arbitrageurs.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Section&#160;1701.831 does not apply to a corporation if its
    articles of incorporation or code of regulations state that it
    does not apply. We have not opted out of the application of this
    statute.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Listing</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our common shares are quoted the OTCBB under the symbol
    &#147;FMNB.OB.&#148; On [&#160;&#149;&#160;], 2010, we applied
    to list our shares on the Nasdaq under the symbol
    &#147;[&#160;&#149;&#160;].&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Transfer
    Agent and Registrar</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We act as the transfer agent and registrar for our common shares.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    23
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='108'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">UNDERWRITING</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We are offering our common shares described in this prospectus
    in an underwritten offering in which Sandler
    O&#146;Neill&#160;&#038; Partners, L.P. is acting as sole
    underwriter. We will enter into an underwriting agreement with
    Sandler O&#146;Neill&#160;&#038; Partners, L.P. with respect to
    the common shares being offered. Subject to the terms and
    conditions contained in the underwriting agreement, Sandler
    O&#146;Neill&#160;&#038; Partners, L.P. has agreed to purchase
    all of the common shares being offered by this prospectus:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="85%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Amount of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Underwriter</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Shares</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Sandler O&#146;Neill&#160;&#038; Partners, L.P.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The underwriting agreement provides that the underwriter&#146;s
    obligation to purchase our common shares depends on the
    satisfaction of the conditions contained in the underwriting
    agreement, including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the representations and warranties made by us are true and
    agreements have been performed;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    there is no material adverse change in the financial markets or
    in our business;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    we deliver customary closing documents.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Subject to these conditions, the underwriter is committed to
    purchase and pay for all of our common shares offered by this
    prospectus, if any such shares are purchased. However, the
    underwriter is not obligated to take or pay for the common
    shares covered by the underwriter&#146;s over-allotment option
    described below, unless and until that option is exercised.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Over-Allotment
    Option.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We have granted the underwriter an option, exercisable no later
    than 30&#160;days after the date of the underwriting agreement,
    to purchase up to an aggregate
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;additional
    common shares at the public offering price, less the
    underwriting discount set forth on the cover page of this
    prospectus. We will be obligated to sell these common shares to
    the underwriter to the extent the over-allotment option is
    exercised. The underwriter may exercise this option only to
    cover over-allotments, if any, made in connection with the sale
    of our common shares offered by this prospectus.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Commissions
    and Expenses.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The underwriter proposes to offer our common shares directly to
    the public at the offering price set forth on the cover page of
    this prospectus and to dealers at the public offering price less
    a concession not in excess of $&#160;&#160;&#160;&#160;&#160;
    per share. The underwriter may allow, and the dealers may
    re-allow, a concession not in excess of
    $&#160;&#160;&#160;&#160;&#160; per share on sales to other
    brokers and dealers. After the public offering of our common
    shares, the underwriter may change the offering price,
    concessions and other selling terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table shows the per share and total underwriting
    discounts and commissions that we will pay to the underwriter
    and the proceeds we will receive before expenses. These amounts
    are shown assuming both no exercise and full exercise of the
    underwriter&#146;s option to purchase additional common shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="59%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="6%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="6%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Total Without<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Total With<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Per Share</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Over-Allotment</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Over-Allotment</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Price to public
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Underwriting discounts and commissions
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Proceeds, before expenses to Farmers National Banc Corp.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In addition to the underwriting discount, we will reimburse the
    underwriter for its reasonable
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses, incurred in connection with its engagement as
    underwriter, regardless of whether this offering is consummated,
    including, without limitation, legal fees and expenses,
    marketing, syndication and
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    24
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    travel expenses. We estimate that the total expenses of this
    offering, exclusive of the underwriting discounts and
    commissions, will be approximately
    $&#160;&#160;&#160;&#160;&#160;, and are payable by us.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Indemnity.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We have agreed to indemnify the underwriter, and persons who
    control the underwriter, against certain liabilities, including
    liabilities under the Securities Act, and to contribute to
    payments that the underwriter may be required to make in respect
    of these liabilities.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times"><FONT style="white-space: nowrap">Lock-Up</FONT>
    Agreement.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We, and each of our directors and executive officers, have
    agreed for a period of [&#160;&#149;&#160;]&#160;days after the
    date of this prospectus, subject to certain exceptions, to not
    sell, offer, agree to sell, contract to sell, hypothecate,
    pledge, grant any option to purchase, make any short sale or
    otherwise dispose of or hedge, directly or indirectly, any
    common shares or securities convertible into, exchangeable or
    exercisable for any of our common shares or warrants or other
    rights to purchase common shares or any other of our securities
    that are substantially similar to our common shares without, in
    each case, the prior written consent of Sandler
    O&#146;Neill&#160;&#038; Partners, L.P. These restrictions are
    expressly agreed to preclude us, and our executive officers and
    directors, from engaging in any hedging or other transactions or
    arrangement that is designed to, or which reasonably could be
    expected to, lead to or result in a sale, disposition or
    transfer, in whole or in part, of any of the economic
    consequences of ownership of our common shares, whether such
    transaction would be settled by delivery of common shares or
    other securities, in cash or otherwise. The
    <FONT style="white-space: nowrap">[&#160;&#149;&#160;]-day</FONT>
    restricted period described above will be automatically extended
    if (1)&#160;during the period that begins on the date that is 15
    calendar days plus 3 business days before the last day of the
    <FONT style="white-space: nowrap">[&#160;&#149;&#160;]-day</FONT>
    restricted period and ends on the last day of the
    <FONT style="white-space: nowrap">[&#160;&#149;&#160;]-day</FONT>
    restricted period, we issue an earnings release or material news
    or a material event relating to us occurs, or (2)&#160;prior to
    the expiration of the
    <FONT style="white-space: nowrap">[&#160;&#149;&#160;]-day</FONT>
    restricted period, we announce that we will release earnings
    results or become aware that material news or a material event
    would occur during the
    <FONT style="white-space: nowrap">16-day</FONT>
    period beginning on the last day of the
    <FONT style="white-space: nowrap">[&#160;&#149;&#160;]-day</FONT>
    restricted period, then the restricted period will continue to
    apply until the expiration of the date that is 15 calendar days
    plus 3 business days after the date on which the earnings
    release is issued or the material news or material event
    relating to us occurs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Stabilization.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In connection with this offering, the underwriter may engage in
    stabilizing transactions, over-allotment transactions, syndicate
    covering transactions and penalty bids:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Stabilizing transactions permit bids to purchase common shares
    so long as the stabilizing bids do not exceed a specified
    maximum, and are engaged in for the purpose of preventing or
    retarding a decline in the market price of the common shares
    while the offering is in progress.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Over-allotment transactions involve sales of common shares in
    excess of the number of shares the underwriter is obligated to
    purchase. This creates a syndicate short position which may be
    either a covered short position or a naked short position. In a
    covered short position, the number of shares of common shares
    over allotted by the underwriter is not greater than the number
    of shares that it may purchase in the option to purchase
    additional shares. In a naked short position, the number of
    shares involved is greater than the number of shares in the
    option to purchase additional shares. The underwriter may close
    out any short position by exercising its option to purchase
    additional shares
    <FONT style="white-space: nowrap">and/or</FONT>
    purchasing shares in the open market.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Syndicate covering transactions involve purchases of our common
    shares in the open market after the distribution has been
    completed in order to cover syndicate short positions. In
    determining the source of shares to close out the short
    position, the underwriter will consider, among other things, the
    price of shares available for purchase in the open market as
    compared with the price at which it may purchase shares through
    exercise of the option to purchase additional shares. If the
    underwriter sells more shares than could be covered by exercise
    of the option to purchase additional shares and, therefore, has
    a naked short position, the position can be closed out only by
    buying shares in the open market. A naked
</TD>
</TR>
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</TABLE>
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    <BR>
    25
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    short position is more likely to be created if the underwriter
    is concerned that after pricing there could be downward pressure
    on the price of the shares in the open market that could
    adversely affect investors who purchase in the offering.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Penalty bids permit the underwriter to reclaim a selling
    concession from a syndicate member when the common shares
    originally sold by that syndicate member are purchased in
    stabilizing or syndicate covering transactions to cover
    syndicate short positions.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    These stabilizing transactions, syndicate covering transactions
    and penalty bids may have the effect of raising or maintaining
    the market price of our common shares or preventing or retarding
    a decline in the market price of our common shares. As a result,
    the price of our common shares in the open market may be higher
    than it would otherwise be in the absence of these transactions.
    Neither we nor the underwriter makes any representation or
    prediction as to the effect that the transactions described
    above may have on the price of our common shares. These
    transactions may be effected on the Nasdaq, in the
    <FONT style="white-space: nowrap">over-the-counter</FONT>
    market or otherwise and if commenced, may be discontinued by the
    underwriter at any time.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Relationship
    with the Underwriter.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Sandler O&#146;Neill&#160;&#038; Partners, L.P., including some
    of their affiliates, have performed and expect to continue to
    perform financial advisory and investment banking services for
    us in the ordinary course of its businesses, and may have
    received, and may continue to receive, compensation for those
    services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our common shares are being offered by the underwriter, subject
    to prior sale, when, as and if issued to and accepted by it,
    subject to approval of certain legal matters by counsel for the
    underwriter and other conditions.
</DIV>

<A name='109'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXPERTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our consolidated balance sheets as of December&#160;31, 2009 and
    December&#160;31, 2008 and the related consolidated statements
    of income and comprehensive income, stockholders&#146; equity
    and cash flows for each of the years in the three year period
    ended December&#160;31, 2009 appearing in our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2009 have been incorporated
    by reference herein in reliance upon the report of Crowe Horwath
    LLP, independent registered public accounting firm, incorporated
    by reference herein, and upon the authority of said firm as
    experts in accounting and auditing.
</DIV>

<A name='110'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">LEGAL
    MATTERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The validity of the issuance of the securities to be offered by
    this prospectus will be passed upon for us by Vorys, Sater,
    Seymour and Pease LLP, Akron, Ohio. Certain legal matters
    relating to the sale of the securities to be offered by this
    prospectus will be passed upon for the underwriter by Calfee,
    Halter&#160;&#038; Griswold LLP, Cleveland, Ohio.
</DIV>

<A name='111'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">WHERE YOU
    CAN FIND MORE INFORMATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We are subject to the information requirements of the Securities
    Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;),
    which means that we are required to file annual, quarterly and
    current reports, proxy statements and other information with the
    SEC, all of which are available at the Public Reference Room of
    the SEC at 100&#160;F&#160;Street, NE, Washington,&#160;D.C.
    20549. You may also obtain copies of the reports, proxy
    statements and other information from the Public Reference Room
    of the SEC, at prescribed rates, by calling
    <FONT style="white-space: nowrap">1-800-SEC-0330.</FONT>
    The SEC maintains an Internet website at
    <FONT style="white-space: nowrap">http://www.sec.gov</FONT>
    where you can access reports, proxy, information and
    registration statements, and other information regarding us that
    we file electronically with the SEC. In addition, we make
    available, without charge, through our website,
    <U>www.farmersbankgroup.com</U>, electronic copies of our
    filings with the SEC, including copies of Annual Reports on
    <FONT style="white-space: nowrap">Form&#160;10-K,</FONT>
    Quarterly Reports on
    <FONT style="white-space: nowrap">Form&#160;10-Q,</FONT>
    Current Reports on
    <FONT style="white-space: nowrap">Form&#160;8-K,</FONT>
    and amendments to these
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    26
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    filings, if any. Information on our website should not be
    considered a part of this prospectus, and we do not intend to
    incorporate into this prospectus any information contained in
    our website.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The SEC allows us to &#147;incorporate by reference&#148; the
    information we file with it, which means that we can disclose
    important information to you by referring you to those documents
    filed separately with the SEC. The information we incorporate by
    reference is an important part of this prospectus. We
    incorporate by reference the documents listed below, except to
    the extent that any information contained in those documents is
    deemed &#147;furnished&#148; in accordance with SEC rules. The
    documents we incorporate by reference, all of which we have
    previously filed with the SEC, include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2009;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our Quarterly Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarter ended March&#160;31, 2010;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our Current Reports on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed on April&#160;16, 2010, April&#160;28, 2010 and
    May&#160;27, 2010;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The definitive proxy statement for our 2010 Annual Meeting of
    Shareholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The definitive proxy statement for our Special Meeting of
    Shareholders to be held on June&#160;17, 2010;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The description of our common shares contained in our
    Registration Statement on Form&#160;8, or contained in any
    subsequent amendment or report filed for the purpose of updating
    such description;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    All other reports filed with the SEC under Section&#160;13(a) or
    15(d) of the Exchange Act or proxy or information statements
    filed under Section&#160;14 of the Exchange Act since
    December&#160;31, 2009 and before the date of this Registration
    Statement.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Any statement contained in a document that is incorporated by
    reference will be modified or superseded for all purposes to the
    extent that a statement contained in this prospectus modifies or
    is contrary to that previous statement. Any statement so
    modified or superseded will not be deemed a part of this
    prospectus except as so modified or superseded.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You may request a copy of any of these filings at no cost, by
    writing or telephoning us at the following address or telephone
    number:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <FONT style="font-family: 'Times New Roman', Times">Farmers
    National Banc Corp.<BR>
    20 South Broad Street<BR>
    Canfield, Ohio 44406<BR>
    <FONT style="white-space: nowrap">(330)&#160;533-3341</FONT>
    </FONT>
</DIV>
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    <BR>
    27
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PART&#160;II<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INFORMATION
    NOT REQUIRED IN PROSPECTUS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;13.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Other
    Expenses of Issuance and Distribution.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table sets forth all expenses to be paid by the
    registrant, other than estimated underwriting discounts and
    commissions, in connection with this offering. All amounts shown
    are estimates except for the SEC registration fee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="83%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount to be Paid</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    SEC Registration Fee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,070
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    FINRA Filing Fee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    [&#160;&#149;&#160;]
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Printing and engraving expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    [&#160;&#149;&#160;]
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Legal fees and expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    [&#160;&#149;&#160;]
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Accounting fees and expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    [&#160;&#149;&#160;]
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Miscellaneous
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    [&#160;&#149;&#160;]
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    TOTAL
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    [&#160;&#149;&#160;]
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;14.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Indemnification
    of Directors and Officers.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">(a)&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Ohio
    General Corporation Law</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Section&#160;1701.13(E) of the Ohio Revised Code grants
    corporations broad powers to indemnify directors, officers,
    employees and agents. Section&#160;1701.13(E) provides:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (E)(1) A corporation may indemnify or agree to indemnify any
    person who was or is a party, or is threatened to be made a
    party, to any threatened, pending, or completed action, suit, or
    proceeding, whether civil, criminal, administrative, or
    investigative, other than an action by or in the right of the
    corporation, by reason of the fact that he is or was a director,
    officer, employee, or agent of the corporation, or is or was
    serving at the request of the corporation as a director,
    trustee, officer, employee, member, manager, or agent of another
    corporation, domestic or foreign, nonprofit or for profit, a
    limited liability company, or a partnership, joint venture,
    trust, or other enterprise, against expenses, including
    attorney&#146;s fees, judgments, fines, and amounts paid in
    settlement actually and reasonably incurred by him in connection
    with such action, suit, or proceeding, if he acted in good faith
    and in a manner he reasonably believed to be in or not opposed
    to the best interests of the corporation, and, with respect to
    any criminal action or proceeding, if he had no reasonable cause
    to believe his conduct was unlawful. The termination of any
    action, suit, or proceeding by judgment, order, settlement, or
    conviction, or upon a plea of nolo contendere or its equivalent,
    shall not, of itself, create a presumption that the person did
    not act in good faith and in a manner he reasonably believed to
    be in or not opposed to the best interests of the corporation,
    and, with respect to any criminal action or proceeding, he had
    reasonable cause to believe that his conduct was unlawful.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (2)&#160;A corporation may indemnify or agree to indemnify any
    person who was or is a party, or is threatened to be made a
    party, to any threatened, pending, or completed action or suit
    by or in the right of the corporation to procure a judgment in
    its favor, by reason of the fact that he is or was a director,
    officer, employee, or agent of the corporation, or is or was
    serving at the request of the corporation as a director,
    trustee, officer, employee, member, manager, or agent of another
    corporation, domestic or foreign, nonprofit or for profit, a
    limited liability company, or a partnership, joint venture,
    trust, or other enterprise, against expenses, including
    attorney&#146;s fees, actually and reasonably incurred by him in
    connection with the defense or settlement of such action or
    suit, if he acted in good faith and in a manner
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    II-1
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    he reasonably believed to be in or not opposed to the best
    interests of the corporation, except that no indemnification
    shall be made in respect of any of the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;Any claim, issue, or matter as to which such person is
    adjudged to be liable for negligence or misconduct in the
    performance of his duty to the corporation unless, and only to
    the extent that, the court of common pleas or the court in which
    such action or suit was brought determines, upon application,
    that, despite the adjudication of liability, but in view of all
    the circumstances of the case, such person is fairly and
    reasonably entitled to indemnity for such expenses as the court
    of common pleas or such other court shall deem proper;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;Any action or suit in which the only liability asserted
    against a director is pursuant to section&#160;1701.95 of the
    Revised Code.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (3)&#160;To the extent that a director, trustee, officer,
    employee, member, manager, or agent has been successful on the
    merits or otherwise in defense of any action, suit, or
    proceeding referred to in division (E)(1) or (2)&#160;of this
    section, or in defense of any claim, issue, or matter therein,
    he shall be indemnified against expenses, including
    attorney&#146;s fees, actually and reasonably incurred by him in
    connection with the action, suit, or proceeding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (4)&#160;Any indemnification under division (E)(1) or
    (2)&#160;of this section, unless ordered by a court, shall be
    made by the corporation only as authorized in the specific case,
    upon a determination that indemnification of the director,
    trustee, officer, employee, member, manager, or agent is proper
    in the circumstances because he has met the applicable standard
    of conduct set forth in division (E)(1) or (2)&#160;of this
    section. Such determination shall be made as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;By a majority vote of a quorum consisting of directors
    of the indemnifying corporation who were not and are not parties
    to or threatened with the action, suit, or proceeding referred
    to in division (E)(1) or (2)&#160;of this section;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;If the quorum described in division (E)(4)(a) of this
    section is not obtainable or if a majority vote of a quorum of
    disinterested directors so directs, in a written opinion by
    independent legal counsel other than an attorney, or a firm
    having associated with it an attorney, who has been retained by
    or who has performed services for the corporation or any person
    to be indemnified within the past five years;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (c)&#160;By the shareholders;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (d)&#160;By the court of common pleas or the court in which the
    action, suit, or proceeding referred to in division (E)(1) or
    (2)&#160;of this section was brought.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Any determination made by the disinterested directors under
    division (E)(4)(a) or by independent legal counsel under
    division (E)(4)(b) of this section shall be promptly
    communicated to the person who threatened or brought the action
    or suit by or in the right of the corporation under division
    (E)(2) of this section, and within ten days after receipt of
    such notification, such person shall have the right to petition
    the court of common pleas or the court in which such action or
    suit was brought to review the reasonableness of such
    determination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (5)(a) Unless at the time of a director&#146;s act or omission
    that is the subject of an action, suit, or proceeding referred
    to in division (E)(1) or (2)&#160;of this section, the articles
    or the regulations of a corporation state, by specific reference
    to this division, that the provisions of this division do not
    apply to the corporation and unless the only liability asserted
    against a director in an action, suit, or proceeding referred to
    in division (E)(1) or (2)&#160;of this section is pursuant to
    section&#160;1701.95 of the Revised Code, expenses, including
    attorney&#146;s fees, incurred by a director in defending the
    action, suit or proceeding shall be paid by the corporation as
    they are incurred, in advance of the final disposition of the
    action, suit, or
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    II-2
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    proceeding upon receipt of an undertaking by or on behalf of the
    director in which he agrees to do both of the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (i)&#160;Repay such amount if it is proved by clear and
    convincing evidence in a court of competent jurisdiction that
    his action or failure to act involved an act or omission
    undertaken with deliberate intent to cause injury to the
    corporation or undertaken with reckless disregard for the best
    interests of the corporation;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (ii)&#160;Reasonably cooperate with the corporation concerning
    the action, suit, or proceeding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;Expenses, including attorney&#146;s fees, incurred by a
    director, trustee, officer, employee, member, manager, or agent
    in defending any action, suit, or proceeding referred to in
    division (E)(1) or (2)&#160;of this section, may be paid by the
    corporation as they are incurred, in advance of the final
    disposition of the action, suit, or proceeding, as authorized by
    the directors in the specific case, upon receipt of an
    undertaking by or on behalf of the director, trustee, officer,
    employee, member, manager, or agent to repay such amount, if it
    ultimately is determined that he is not entitled to be
    indemnified by the corporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (6)&#160;The indemnification authorized by this section shall
    not be exclusive of, and shall be in addition to, any other
    rights granted to those seeking indemnification under the
    articles, the regulations, any agreement, a vote of shareholders
    or disinterested directors, or otherwise, both as to action in
    their official capacities and as to action in another capacity
    while holding their offices or positions, and shall continue as
    to a person who has ceased to be a director, trustee, officer,
    employee, member, manager, or agent and shall inure to the
    benefit of the heirs, executors, and administrators of such a
    person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (7)&#160;A corporation may purchase and maintain insurance or
    furnish similar protection, including, but not limited to, trust
    funds, letters of credit, or self-insurance, on behalf of or for
    any person who is or was a director, officer, employee, or agent
    of the corporation, or is or was serving at the request of the
    corporation as a director, trustee, officer, employee, member,
    manager, or agent of another corporation, domestic or foreign,
    nonprofit or for profit, a limited liability company, or a
    partnership, joint venture, trust, or other enterprise, against
    any liability asserted against him and incurred by him in any
    such capacity, or arising out of his status as such, whether or
    not the corporation would have the power to indemnify him
    against such liability under this section. Insurance may be
    purchased from, or maintained with, a person in which the
    corporation has a financial interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (8)&#160;The authority of a corporation to indemnify persons
    pursuant to division (E)(1) or (2)&#160;of this section does not
    limit the payment of expenses as they are incurred,
    indemnification, insurance, or other protection that may be
    provided pursuant to divisions (E)(5),(6), and (7)&#160;of this
    section. Divisions (E)(1) and (2)&#160;of this section do not
    create any obligation to repay or return payments made by the
    corporation pursuant to divisions (E)(5),(6) or (7).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (9)&#160;As used in division (E)&#160;of this section,
    &#147;corporation&#148; includes all constituent entities in a
    consolidation or merger and the new or surviving corporation, so
    that any person who is or was a director, officer, employee,
    trustee, member, manager, or agent of such a constituent entity,
    or is or was serving at the request of such constituent entity
    as a director, trustee, officer, employee, member, manager, or
    agent of another corporation, domestic or foreign, nonprofit or
    for profit, a limited liability company, or a partnership, joint
    venture, trust, or other enterprise, shall stand in the same
    position under this section with respect to the new or surviving
    corporation as he would if he had served the new or surviving
    corporation in the same capacity.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">(b)&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Articles
    of Incorporation, as amended, of Farmers National Banc
    Corp.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Article&#160;X of the Articles of Incorporation, as amended,
    governs the indemnification of our officers and directors.
    Article&#160;X.B provides:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The corporation shall have power to, and may (in addition to
    such other power conferred by law) indemnify any shareholder,
    officer, or director of the corporation who was or is a party or
    is threatened to
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    II-3
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    be made a party to any threatened, pending or completed action,
    suit or proceeding, whether civil, administrative, or
    investigative, by reason of the fact that he is or was a
    director of this corporation, or any corporation (hereinafter
    referred to as &#147;subsidiary corporation&#148;) of which more
    than 50&#160;per cent of the issued and outstanding shares of
    common shares was or is owned by the corporation at the time
    such person was or is serving as such director of the
    &#147;subsidiary corporation,&#148; against expenses (including
    those reasonably incurred by him) in connection with such
    action, suit, and proceeding if the principal issue of such
    action, suit, or proceeding involved or involves a contract or
    transaction by and between the corporation and such
    &#147;subsidiary corporation&#148; and if he acted in good faith
    and in a manner he reasonably believed to be in or not opposed
    to the best interests of the &#147;subsidiary corporation.&#148;
    Any indemnification as above provided (unless ordered by a
    court) shall be made by the corporation only as authorized in
    the specific case upon a determination that indemnification is
    proper in the circumstances because the standard of conduct set
    forth above has been met. Such determination shall be made
    (a)&#160;by the Board of Directors by a majority vote of a
    quorum consisting of directors who were not parties to such
    action, suit or proceeding; (b)&#160;if such a quorum is not
    obtainable, or even if obtainable, if a majority vote of a
    quorum of disinterested directors so directs, by independent
    legal counsel in a written opinion; or (c)&#160;by a majority of
    a quorum of the shareholders of the corporation consisting of
    shareholders who were not parties to such action, suit or
    proceeding.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;15.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Recent
    Sales of Unregistered Securities</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Not Applicable.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    II-4
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;16.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Exhibits
    and Financial Statement Schedules</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
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    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="94%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
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<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    1
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Underwriting Agreement*
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Articles of Incorporation of Farmers National Banc Corp., as
    amended (incorporated by reference from Exhibit 4.1 to Farmers
    National Banc Corp.&#146;s Registration Statement on Form S-3
    filed with the SEC on October 3, 2001 (File No. 333-70806).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Amended Code of Regulations of Farmers National Banc Corp.
    (incorporate by reference from Exhibit 3(ii) to Farmers National
    Banc Corp.&#146;s Annual Report on Form 10-K for the fiscal year
    ended December 31, 2009, filed with the SEC on March 16, 2010).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Opinion of Vorys, Sater, Seymour and Pease LLP as to the
    legality of the securities being registered.*
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Executive Incentive Plan, dated August 11, 2009 (incorporated by
    reference from Exhibit 10.2 to Farmers National Banc
    Corp.&#146;s Current Report on Form 8-K filed with the SEC on
    August 17, 2009).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Letter Agreement, dated July 22, 2008, between Farmers National
    Bank of Canfield and John S. Gulas (incorporated by reference
    from Exhibit 10.3 to Farmers National Banc Corp.&#146;s Current
    Report on Form 8-K filed with the SEC on July 22, 2008).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Kevin J. Helmick (incorporated by
    reference from Exhibit 10.4 to Farmers National Banc
    Corp.&#146;s Current Report on Form 8-K filed with the SEC on
    December 23, 2008).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .4
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Mark L. Graham (incorporated by
    reference from Exhibit 10.5 to Farmers National Banc
    Corp.&#146;s Current Report on Form 8-K filed with the SEC on
    December 23, 2008).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .5
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Frank L. Paden (incorporated by
    reference from Exhibit 10.6 to Farmers National Banc
    Corp.&#146;s Current Report on Form 8-K filed with the SEC on
    December 23, 2008).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .6
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Carl D. Culp (incorporated by
    reference from Exhibit 10.7 to Farmers National Banc
    Corp.&#146;s Current Report on Form 8-K filed with the SEC on
    December 23, 2008).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .7
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Farmers National Banc Corp. 1999 Stock Option Plan (incorporated
    by reference from Exhibit 1 to Farmers National Banc Corp&#146;s
    definitive proxy statement, filed with the SEC on February 24,
    1999).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    21
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Subsidiaries of Farmers National Banc Corp. (filed herewith).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Crowe Horwath LLP, independent registered public
    accounting firm (filed herewith).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Vorys, Sater, Seymour and Pease LLP (included as part
    of its opinion filed as Exhibit 5.1)*
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    24
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Power of Attorney (filed herewith).
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    To be filed by an amendment to this registration statement.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;17.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Undertakings</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned registrant hereby undertakes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (1)&#160;Insofar as indemnification for liabilities arising
    under the Securities Act of 1933&#160;may be permitted to
    directors, officers and controlling persons of the registrant
    under the foregoing provisions, or otherwise, the registrant has
    been advised that in the opinion of the Securities and Exchange
    Commission such indemnification is against public policy as
    expressed in the Act, and is, therefore, unenforceable. In the
    event that a claim for indemnification against such liabilities
    (other than the payment by the registrant of expenses incurred
    or paid by a director, officer or controlling person of the
    registrant in the successful defense of any action, suit or
    proceeding) is asserted by such director, officer or controlling
    person in connection with the securities being registered, the
    registrant will, unless in the opinion of its counsel the matter
    has been settled by controlling precedent, submit to a court of
    appropriate jurisdiction the question whether such
    indemnification by it is against public policy as expressed in
    the Act and will be governed by the final adjudication of such
    issue.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (2)&#160;For purposes of determining any liability under the
    Securities Act of 1933, the information omitted from the form of
    prospectus filed as part of this registration statement in
    reliance upon Rule&#160;430A
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    II-5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    and contained in a form of prospectus filed by the registrant
    under Rule&#160;424(b)(1), or (4), or 497(h) under the
    Securities Act shall be deemed to be part of this registration
    statement as of the time it was declared effective.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (3)&#160;For the purpose of determining any liability under the
    Securities Act of 1933, each post-effective amendment that
    contains a form of prospectus shall be deemed to be a new
    registration statement relating to the securities offered
    therein, and the offering of such securities at that time shall
    be deemed to be the initial bona fide offering thereof.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    II-6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Pursuant to the requirements of the Securities Act of 1933, the
    registrant has duly caused this registration statement to be
    signed on its behalf by the undersigned, thereunto duly
    authorized, in the City of Canfield, State of Ohio, on the
    25th&#160;day of May, 2010.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>FARMERS NATIONAL BANC CORP.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Frank
    L. Paden</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Frank L. Paden, President and Secretary of
</DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Farmers National Banc Corp.
</DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (Principal Executive Officer)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="3%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="39%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Capacity</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Frank
    L. Paden</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Frank
    L. Paden
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    President, Secretary and Director<BR>
    (Principal Executive Officer)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    May&#160;28, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Carl
    D. Culp</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Carl
    D. Culp
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Executive Vice President and Treasurer (Principal Financial
    Officer and Principal Accounting Officer)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    May&#160;28, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Benjamin
    R. Brown*</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Benjamin
    R. Brown
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    May&#160;28, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Anne
    Fredrick Crawford*</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Anne
    Fredrick Crawford
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    May&#160;28, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;James
    R. Fisher*</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>James
    R. Fisher
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    May&#160;28, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Joseph
    D. Lane*</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Joseph
    D. Lane
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    May&#160;28, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Ralph
    D. Macali*</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Ralph
    D. Macali
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    May&#160;28, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Earl
    R. Scott*</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Earl
    R. Scott
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    May&#160;28, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Ronald
    V. Wertz*</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Ronald
    V. Wertz
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    May&#160;28, 2010
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    *&#160;&#160;By:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">Frank L.
    Paden</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 7%; width: 33%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 7%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Attorney-in-Fact
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    *&#160;&#160;</TD>
    <TD align="left">
    Powers of attorney authorizing Frank L. Paden to sign this
    registration statement on Form&#160;S-1 on behalf of the
    directors of Farmers National Banc Corp. are being file with the
    Securities and Exchange Commission herewith.
</TD>
</TR>

</TABLE>
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    <BR>
    II-7
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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    <B><FONT style="font-family: 'Times New Roman', Times">INDEX TO
    EXHIBITS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

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<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    1
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Underwriting Agreement*
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Articles of Incorporation of Farmers National Banc Corp., as
    amended (incorporated by reference from Exhibit&#160;4.1 to
    Farmers National Banc Corp.&#146;s Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    filed with the SEC on October&#160;3, 2001 (File
    <FONT style="white-space: nowrap">No.&#160;333-70806).</FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Amended Code of Regulations of Farmers National Banc Corp.
    (incorporate by reference from Exhibit&#160;3(ii) to Farmers
    National Banc Corp.&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the fiscal year ended December&#160;31, 2009, filed with the
    SEC on March&#160;16, 2010).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Opinion of Vorys, Sater, Seymour and Pease LLP as to the
    legality of the securities being registered.*
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Executive Incentive Plan, dated August&#160;11, 2009
    (incorporated by reference from Exhibit&#160;10.2 to Farmers
    National Banc Corp.&#146;s Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC on August&#160;17, 2009).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Letter Agreement, dated July&#160;22, 2008, between Farmers
    National Bank of Canfield and John S. Gulas (incorporated by
    reference from Exhibit&#160;10.3 to Farmers National Banc
    Corp.&#146;s Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC on July&#160;22, 2008).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Letter Agreement, dated December&#160;23, 2008, between Farmers
    National Bank of Canfield and Kevin J. Helmick (incorporated by
    reference from Exhibit&#160;10.4 to Farmers National Banc
    Corp.&#146;s Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC on December&#160;23, 2008).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .4
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Letter Agreement, dated December&#160;23, 2008, between Farmers
    National Bank of Canfield and Mark L. Graham (incorporated by
    reference from Exhibit&#160;10.5 to Farmers National Banc
    Corp.&#146;s Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC on December&#160;23, 2008).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .5
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Letter Agreement, dated December&#160;23, 2008, between Farmers
    National Bank of Canfield and Frank L. Paden (incorporated by
    reference from Exhibit&#160;10.6 to Farmers National Banc
    Corp.&#146;s Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC on December&#160;23, 2008).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .6
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Letter Agreement, dated December&#160;23, 2008, between Farmers
    National Bank of Canfield and Carl D. Culp (incorporated by
    reference from Exhibit&#160;10.7 to Farmers National Banc
    Corp.&#146;s Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC on December&#160;23, 2008).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .7
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Farmers National Banc Corp. 1999 Stock Option Plan (incorporated
    by reference from Exhibit&#160;1 to Farmers National Banc
    Corp&#146;s definitive proxy statement, filed with the SEC on
    February&#160;24, 1999).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    21
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Subsidiaries of Farmers National Banc Corp. (filed herewith).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Crowe Horwath LLP, independent registered public
    accounting firm (filed herewith).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Vorys, Sater, Seymour and Pease LLP (included as part
    of its opinion filed as Exhibit&#160;5.1)*
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    24
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Power of Attorney (filed herewith).
</TD>
</TR>
</TABLE>

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</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

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<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    *&#160;&#160;</TD>
    <TD align="left">
    To be filed by an amendment to this registration statement.
</TD>
</TR>

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{"company-data": {"conformed-name": "FARMERS NATIONAL BANC CORP /OH/", "cik": "0000709337", "assigned-sic": "6022", "irs-number": "341371693", "state-of-incorporation": "OH", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-167177", "film-number": "10864809"}, "business-address": {"street1": "20 S BROAD STREET", "street2": "P O BOX 555", "city": "CANFIELD", "state": "OH", "zip": "44406", "phone": "3305333341"}}
sv1
Table of Contents
As filed with the Securities and Exchange Commission on
    May 28, 2010
Registration
No. 333-
[ • ]
UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION
Washington, D.C.
    20549
Form S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Farmers National Banc
    Corp.
(Exact name of registrant as
    specified in its charter)
Ohio
6022
34-1371693
(State or other jurisdiction
    of
incorporation or organization)
(Primary Standard Industrial
Classification Code Number)
(I.R.S. Employer
Identification Number)
20 South Broad Street
Canfield, Ohio 44406
(330) 533-3341
(Address, including zip code,
    and telephone number, including area code, of registrant's
    principal executive offices)
Frank L. Paden
President and
    Secretary
Farmers National Banc
    Corp.
20 South Broad Street
Canfield,
    Ohio 44406
(330) 533-3341
(Name and address, including zip
    code, and telephone number, including area code, of agent for
    service)
Copies of all communications,
    including copies of all communications sent to agent for
    service, should be sent to:
J. Bret Treier, Esq.
John J. Jenkins, Esq.
John M. Saganich, Esq.
Calfee, Halter & Griswold LLP
Vorys, Sater, Seymour and Pease LLP
1400 KeyBank Center
106 South Main Street, Suite 1100
800 Superior Avenue
Akron, Ohio 44308
Cleveland, Ohio 44144
(330) 208-1015
(216) 622-8507
Approximate
    date of commencement of proposed sale of the securities to the
    public:
As soon as practicable after the effective date of this
    registration statement.
If any of the securities being registered on this Form are to be
    offered on a delayed or continuous basis pursuant to
    Rule 415 under the Securities Act of 1933 check the
    following
    box:
o
If this Form is filed to register additional securities for an
    offering pursuant to Rule 462(b) under the Securities Act,
    please check the following box and list the Securities Act
    registration statement number of the earlier effective
    registration statement for the same
    offering.
o
If this Form is a post-effective amendment filed pursuant to
    Rule 462(c) under the Securities Act, check the following
    box and list the Securities Act registration statement number of
    the earlier effective registration statement for the same
    offering.
o
If this Form is a post-effective amendment filed pursuant to
    Rule 462(d) under the Securities Act, check the following
    box and list the Securities Act registration statement number of
    the earlier effective registration statement for the same
    offering.
o
Indicate by check mark whether the registrant is a large
    accelerated filer, an accelerated filer, a non-accelerated
    filer, or a smaller reporting company. See the definitions of
    "large accelerated filer," "accelerated
    filer" and "smaller reporting company" in Rule
12b-2
of the
    Exchange Act. (Check one):
Large
    accelerated
    filer
o
Accelerated
    filer
þ
Non-accelerated
filer
o
Smaller reporting
    company
o
(Do not check if a smaller
    reporting company)
CALCULATION
    OF REGISTRATION FEE
Proposed Maximum
Amount of
Title of Each Class of
Aggregate Offering
Registration
Securities to be Registered
Price(1)
Fee(2)
Common Shares, no par value
$15,000,000
$1,069.50
(1)
Includes common shares that may be
    purchased by the underwriters pursuant to their option to
    purchase additional common shares to cover over-allotments.
(2)
Calculated in accordance with
    Rule 457(o) under the Securities Act of 1933, as amended,
    based on the maximum aggregate offering price.
The Registrant hereby amends this Registration Statement on
    such date or dates as may be necessary to delay its effective
    date until the Registrant shall file a further amendment which
    specifically states that this Registration Statement shall
    thereafter become effective in accordance with Section 8(a)
    of the Securities Act of 1933, as amended, or until this
    Registration Statement shall become effective on such date as
    the Securities and Exchange Commission, acting pursuant to said
    Section 8(a), may determine.
Table of Contents
The
information in this prospectus is not complete and may be
changed. We may not sell these securities until the registration
statement filed with the Securities and Exchange Commission is
effective. This prospectus is not an offer to sell these
securities and is not soliciting an offer to buy these
securities in any jurisdiction where the offer or sale is not
permitted.
SUBJECT TO COMPLETION, DATED
    MAY 28, 2010
PRELIMINARY
    PROSPECTUS
Common Shares
We are offering      of our common
    shares, no par value. Our common shares are quoted on the
Over-The-Counter
Bulletin Board (the "OTCBB") under the symbol
    "FMNB.OB." On [ • ], 2010, the last
    reported sale price of our common shares was
    $[ • ] per share. On [ • ], 2010,
    we applied to list our shares on the NASDAQ Capital Market (the
    "Nasdaq") under the symbol
    ''[ • ]."
Investing in our common shares involves risks. See "Risk
    Factors" beginning on page 9 of this prospectus to
    read about factors you should consider before you make your
    investment decision.
Per Share
Total
Price to public
$
$
Underwriting discount and commissions
$
$
Proceeds, before expenses, to Farmers National Banc Corp.
$
$
We have granted the underwriter a
30-day
option to purchase up
    to      additional common shares
    at the same price, and on the same terms, solely to cover
    over-allotments, if any.
Neither the Securities and Exchange Commission nor any state
    securities commission has approved or disapproved of these
    securities or determined if this prospectus is truthful or
    complete. Any representation to the contrary is a criminal
    offense.
These common shares are not savings accounts, deposits or
    obligations of any bank and are not insured by any insurance
    fund of the Federal Deposit Insurance Corporation or any other
    governmental agency.
The underwriter expects to deliver common shares to purchasers
    against payment in New York, New York on or
    about     , 2010, subject to customary
    closing conditions.
The date of this prospectus is     ,
    2010
TABLE OF
    CONTENTS
Page
Summary
1
Risk Factors
9
Cautionary Note Regarding Forward-Looking
    Statements
16
Use Of Proceeds
17
Capitalization
18
Market For Common Shares And Our Dividend
    Policy
19
Description Of Capital Stock
20
Underwriting
24
Experts
26
Legal Matters
26
Where You Can Find More Information
26
EX-21
EX-23.1
EX-24
ABOUT
    THIS PROSPECTUS
You should rely only on the information contained in this
    prospectus and in the documents incorporated by reference
    herein. We have not, and the underwriter has not, authorized any
    other person to provide you with different information. You
    should assume that the information appearing in this prospectus
    is accurate only as of the date on the front cover of this
    prospectus regardless of the time of delivery of this prospectus
    or any sale of the common shares. Our business, financial
    condition, results of operations and prospects may have changed
    since the date of this prospectus.
In this prospectus, we rely on and refer to information and
    statistics regarding the banking industry and the banking market
    in Ohio. We obtained this market data from independent
    publications or other publicly available information.
No action is being taken in any jurisdiction outside the United
    States to permit a public offering of the common shares or
    possession or distribution of this prospectus in that
    jurisdiction. Persons who come into possession of this
    prospectus in jurisdictions outside the United States are
    required to inform themselves about, and to observe, any
    restrictions as to this offering and the distribution of this
    prospectus applicable to those jurisdictions.
Unless the context of this prospectus indicates otherwise, the
    terms "Farmers," the "Company,"
    "we," "us" or "our" refer to
    Farmers National Banc Corp. and our consolidated subsidiaries.
Table of Contents
PROSPECTUS
    SUMMARY
This summary is not complete and does not contain all of the
    information you should consider before investing in the common
    shares offered by this prospectus. You should read this summary
    together with the entire prospectus, including our financial
    statements, the notes to those financial statements, and the
    other documents that are incorporated by reference in this
    prospectus, before making an investment decision. See the
    "Risk Factors" section of this prospectus beginning on
    page [ • ] for a discussion of the risks
    involved in investing in our common shares.
Overview
We are an Ohio corporation organized in 1982 to serve as the
    holding company for Farmers National Bank of Canfield
    ("Farmers Bank"). We are registered as a multi-bank
    holding company under the Bank Holding Company Act of 1956, as
    amended. At March 31, 2010, we had total assets of
    approximately $1.04 billion, deposits of approximately
    $776.8 million and total stockholders' equity of
    approximately $82.3 million. Our common shares are quoted
    on the OTCBB under the symbol "FMNB.OB." On
    [ • ], 2010, we applied to list our common shares
    on the Nasdaq under the symbol "[ • ]."
Farmers Bank is a community based national bank chartered in
    1887 and headquartered in Canfield, Ohio. Farmers Bank is a
    full-service financial services company engaged in commercial
    and retail banking through 16 retail offices and 15 ATMs located
    in Mahoning, Trumbull and Columbiana counties in the State of
    Ohio. In addition, on March 31, 2009 we acquired Farmers
    Trust Company ("Farmers Trust"). With
    approximately $844 million in assets under management as of
    March 31, 2010, Farmers Trust is the only locally owned
    trust company in the Mahoning Valley, and offers individual and
    corporate trust services through two offices located in Mahoning
    and Trumbull counties. In 2009, we formed Farmers National
    Insurance, LLC to further expand our operations to include a
    fully-licensed insurance agency offering life, health and
    property casualty insurance products.
Our record of financial stability, our conservative operating
    policies and our board and management team's stability and
    experience have enabled us to profitably grow our asset and
    deposit base despite challenging economic conditions. We
    achieved an approximately 10% increase in our loan portfolio and
    an approximately 20% increase in deposits during 2009, while
    closely managing asset and deposit quality. We exceeded the
    $1 billion mark in total assets for the first time in our
    history at December 31, 2009. Also, the addition of Farmers
    Trust has allowed us to significantly expand our financial
    services offering and diversify our revenue stream.
Our executive offices are located at 20 South Broad Street,
    Canfield, Ohio 44406 and our telephone number is
(330) 533-3341.
Our internet address is
www.farmersbankgroup.com
. The
    information contained on our website should not be considered
    part of this prospectus, and the reference to our website does
    not constitute incorporation by reference of the information
    contained on the website.
Additional information about us and our subsidiaries is included
    in documents incorporated by reference in this prospectus. See
    "Where You Can Find More Information" beginning on
    page [ • ] of this prospectus.
Our
    Strategy and Highlights
Our strategy focuses on capitalizing on our financial stability
    and our community orientation to continue to profitably grow our
    business while maintaining sound operations and risk management.
    We seek to increase our market share by expanding our operations
    through internal growth and selective acquisitions, and by
    building on our existing customer relationships. We intend to
    continue to diversify our sources of revenue and expand
    non-interest income through trust services, insurance and other
    financial services and products. Highlights of our strategy
    include the following:
•
Risk Management and Asset Quality
— We closely
    monitor and manage the risk of our operations, including the
    performance of our investment and loan portfolio, loan growth
    and core deposit growth. We have a short-term, high quality
    investment portfolio with an average life of 5.4 years. We
    continue to emphasize making loans to creditworthy borrowers,
    conducting sound analysis of financial and
1
Table of Contents
collateral information, working constructively with borrowers
    experiencing difficulties and confronting credit problems in a
    forthright and timely manner. During the later part of 2008 and
    2009, we moved aggressively to contend with asset quality
    deterioration, most notably in the commercial real estate
    portfolio. As a result of these changes, we increased the
    allowance for loan losses in 2009. During 2009, we provided
    approximately $6.05 million to the allowance for loan
    losses. Our allowance for loan losses/total loans and our
    allowance for loan losses/non-performing loans at year-end 2009
    were approximately 1.21% and 73%, respectively, compared to
    approximately 1.01% and 104% at the end of 2008. Management
    remains diligent in monitoring local economic conditions and the
    impact that it may have on our loan portfolio. For the three
    months ended March 31, 2010, management provided
    approximately an additional $2.78 million to the allowance
    for loan losses, which brought our allowance for loan
    losses/total loans to approximately 1.35% and our allowance for
    loan losses/non-performing loans to approximately 76%. Our
    non-performing loans to total loans and non-performing assets to
    total assets were approximately 1.76% and 1.04%, respectively,
    at March 31, 2010.
•
Brand Development —
During the last
    24 months, we have undertaken a campaign to build our brand
    awareness as "Rock Solid," a "Safe Harbor"
    and a "Stand Strong" organization. We are actively
    involved in marketing initiatives aimed at increasing brand
    awareness. We believe that our focus on customer service and
    developing and maintaining customer relationships better
    position us to attract loan, deposit, insurance and financial
    services customers in our primary service area from larger
    national and regional financial institutions.
•
Attracting, Developing and Retaining Quality People
— During 2009, we set forth to leverage our
    positive workplace environment as a way to retain and attract
    new talent. We also enhanced our training programs and our
    reward and recognition programs to develop and retain our
    existing associate base. Without motivated, dedicated and
    responsible associates, we believe that it would be impossible
    to deliver the quality of service we envision for our customers.
    By treating employees fairly, and with dignity and respect, we
    believe we can contribute to the well-being and personal
    development of our associates. We believe the success of this
    approach has resulted in us being seen as an "employer of
    choice" in the Mahoning Valley. In October 2009, we were
    the recipients of the Youngstown/Warren Regional Chamber Human
    Resource Development Award, which is awarded to a local company
    that offers outstanding human resource development programs.
•
Core Systems Technology Enhancements —
During
    2009, we invested significantly in our core systems in order to
    provide an infrastructure platform that can support our future
    growth. We fully implemented seven key system conversions that
    essentially re-engineered the technology and processing core of
    our operations. These systems included a new core banking
    system, various new transaction, consumer loan application, and
    loan documentation processing systems, a new suite of on-line
    banking products and a comprehensive cash management system for
    corporate banking customers, and enhanced telephone banking and
    automatic bill-paying systems.
•
Expand Asset Base Through Growth in Our Loan Portfolio
— We focus on driving profitability by expanding
    our asset base through in-market organic loan growth. Because of
    our focus on customer service and local credit decisions, we
    believe that we are well positioned to capture credit customers
    from larger institutions operating in our primary service area.
    We believe that our financial stability also makes us
    well-positioned to capture credit customers from other community
    banks in our primary service area, many of whom have been more
    adversely affected by the recession than we have. During 2009,
    our loan portfolio increased approximately 10%, reflecting
    substantial development in our traditionally strong indirect
    automobile financing programs. Our commercial real estate loan
    portfolio grew approximately 11% and our commercial and
    industrial loan portfolio increased approximately 8%.
•
Core Funding Strategy
— Strong core deposit
    growth is a key component of our operating strategy. During
    2009, our total deposits increased by approximately 20%. We
    focus on high-quality, low-cost deposits to supplement our
    balance sheet, and on diversifying our deposit portfolio. At
    March 31, 2010, our core deposits — savings and
    money market accounts, time deposits less than $100,000, demand
    accounts and NOW accounts — represented approximately
    83% of total
2
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deposits. Our emphasis on core deposit growth has contributed to
    significant improvement in our net interest margin. Net interest
    margin was approximately 3.88% during 2009 as compared to
    approximately 3.58% for 2008. Net interest margin improved to
    approximately 4.01% during the first quarter of 2010. In
    addition, we have not undertaken any of the following:
    (1) we did not participate in the United States Department
    of the Treasury's Capital Purchase Program, which was
    established under Troubled Asset Relief Program as part of the
    Emergency Economic Stabilization Act of 2008; (2) we have
    not issued any unsecured senior debt guaranteed by the Federal
    Deposit Insurance Corporation (the "FDIC") under its
    Temporary Liquidity Guarantee Program; and (3) we have not
    issued any preferred or trust preferred securities.
•
Diversifying Financial Services and Expanding Non-Interest
    Income
— We believe that increasing the variety of
    services that we offer will help us to further penetrate and to
    increase our customer base within our targeted market areas. We
    also believe that we will benefit from decreased costs resulting
    from integrated sales efforts and cross-selling capabilities,
    increased fee income resulting from the provision of additional
    services and reduced interest rate risk associated with a
    diverse revenue mix. Trust services, which we began to provide
    following our purchase of Farmers Trust on March 31, 2009,
    contributed approximately $3.5 million in non-interest
    income for 2009 and approximately $1.2 million for the
    first quarter of 2010. Our insurance agency also contributed
    approximately $80,000 in non-interest income during 2009 and
    approximately $62,000 during the first quarter of 2010.
Management
    Team
Our executive management team has 220 combined years of
    experience in the financial services industry, including
    106 years with us. The long tenure and stability of our
    executive management team was augmented in 2007 with the
    addition of John S. Gulas as Chief Operating Officer, as well as
    certain additions or promotions, including:
•
Amber B. Wallace, Senior Vice President and Director of
    Marketing;
•
Brian E. Jackson, Vice President and Chief Information Officer;
•
Mark A. Nicastro, Vice President and Director of Human Relations;
•
Kevin J. Helmick, Senior Vice President, Retail
    Services; and
•
James H. Sisek and William Hanshaw, the leaders of Butler
    Wick's trust business who joined us at the time of the
    Farmers Trust acquisition.
We have also added 17 sales and operational support employees
    over the last 12 months to accommodate current and
    anticipated growth. Our corporate culture is performance-based
    which rewards employees at all levels of the organization based
    upon our financial performance and on the attainment of personal
    objectives.
On May 27, 2010, our board announced that effective July 1,
    2010, Mr. Gulas will succeed Frank L. Paden as President and
    Chief Executive Officer of each of the Company and Farmers Bank.
    Mr. Paden, who has served as President and Chief Executive
    Officer for the Company and Farmers Bank since 1996, will remain
    as executive chairman of the board of directors and Secretary of
    each of the Company and Farmers Bank. Mr. Gulas also will
    be appointed as an additional member of our board effective July
    1, 2010.
Competition
We believe that we are well positioned to continue our
    profitable expansion in our market area. In the current
    financial and regulatory environment, many of the larger
    financial institutions operating in our market area have shifted
    their focus away from business development and have focused on
    internal operational, capital and regulatory issues. At the same
    time, many community banks operating in our primary market area
    have been more adversely affected by the recession than we have.
    We believe that our performance based culture developed by our
    management team, our focus on customer service and the ability
    to provide local credit decisions, provide us with a significant
    opportunity to capture customers from larger institutions. We
    believe that these factors, together with our financial
    stability, make us well-positioned to capture customers from
    other community banks in our primary service area.
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Table of Contents
Our
    Market Area
Our primary market area consists of Mahoning, Trumbull and
    Columbiana counties in the northeast and east-central portions
    of Ohio, to the east and south of the Cleveland metropolitan
    area. This area, which generally encompasses the
    Youngstown-Warren-Boardman metropolitan area, is referred to as
    the Mahoning Valley. At 2009, the Youngstown-Warren-Boardman
    metropolitan area had a population of approximately 575,000, and
    a median household income for 2009 of approximately $45,000. The
    area had an  unemployment rate for March 2010 of approximately
    14.0%, as compared to a statewide unemployment rate of
    approximately 11.5%.
The Mahoning Valley's economy is heavily influenced by the
    manufacturing sector with an emphasis on steel, auto
    manufacturing and a variety of related and smaller industries.
    The area has experienced significant economic challenges over an
    extended period and those challenges have been heightened during
    the current recession. Nevertheless, the Mahoning Valley enjoys
    an extensive transportation infrastructure comprised mainly of
    railroad and trucking systems and remains an important
    industrial center. The Mahoning Valley has recently seen several
    important investments in new business, including:
•
Steelmaker V&M Star's planned $650 million
    expansion, which includes a new
"state-of-the-art"
rolling mill in Youngstown.
•
General Motors' decision to build the company's next
    generation small car, the Chevrolet Cruze, at the company's
    Lordstown, Ohio assembly plant, and to invest approximately
    $350 million in the Lordstown facility to support
    production of the Cruze.
•
The acquisition of Warren, Ohio-based WCI Steel by OAO
    Severstal, one of the world's leading integrated steel and
    mining companies, and that firm's anticipated investment of
    approximately $100 million in repairs and upgrades to
    WCI's facilities over a five year period.
Although the recent economic downturn has adversely affected our
    financial performance, we remain focused on building long-term
    shareholder value. We believe that we have significant
    opportunities to grow our business within and adjacent to our
    primary market area. The Youngstown-Warren-Boardman and adjacent
    East Liverpool-Salem metropolitan areas combined total for
    FDIC-insured deposits was approximately $10.6 billion as of
    June 30, 2009. As of that date, Farmers Bank ranked seventh
    out of 18 FDIC insured institutions in deposits in the
    Youngstown-Warren-Boardman metropolitan area (approximately 6.4%
    deposit market share) and fourth out of 11 FDIC institutions in
    the East Liverpool-Salem metropolitan area (approximately 9.1%
    deposit market share).
Our
    Capital Requirements
Like many financial institutions across the United States, our
    operations have been adversely affected by the recent economic
    crisis. The financial crisis has highlighted the role that
    capital serves as a protection against loss, liquidity risk and
    insolvency.
Pursuant to applicable regulations, we, as well as Farmers Bank,
    are subject to various regulatory capital requirements
    administered by federal banking agencies, including the Board of
    Governors of the Federal Reserve System (the "Federal
    Reserve Board") and the Office of the Comptroller of the
    Currency (the "OCC"). Under capital adequacy
    guidelines and the regulatory framework, we are expected to act
    as a source of financial strength for our subsidiary banks, and
    we are subject to certain regulatory capital requirements that
    involve quantitative measures of our assets, liabilities, and
    certain off-balance-sheet items. Farmers Bank is also subject to
    capital adequacy guidelines and regulatory capital requirements.
    Failure to meet minimum capital requirements can initiate
    certain mandatory (and possibly additional discretionary)
    actions by federal banking regulators. See "Risk
    Factors" beginning on page [ • ] of this
    prospectus.
The capital management function is a regular process that
    consists of providing capital for both our current financial
    position and our anticipated future growth. Due to the
    continuing growth in Farmers Bank's business and the
    increase in its allowance for loan losses associated with
    current economic conditions, senior management and our board
    determined that higher levels of capital are appropriate. The
    OCC concurred with
4
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our board's view that additional capital would be
    beneficial in supporting Farmers Bank's continued growth
    and operations. As a result, effective February 2, 2010,
    the OCC proposed, and our board accepted, the following
    individual minimum capital requirements for Farmers Bank:
    Tier I Capital to Adjusted Total Assets of 7.20% and Total
    Capital to Risk-Weighted Assets of 11.00%. At March 31,
    2010, Farmers Bank's Tier 1 Capital to Adjusted Total
    Assets was approximately 6.68% and Total Capital to
    Risk-Weighted Assets was approximately 11.50%. We anticipate
    using the proceeds of this offering to satisfy these individual
    minimum capital requirements and provide additional capital
    necessary to support the continued growth of our business. See
    "Use of Proceeds" beginning on
    page [ • ] of this prospectus.
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Table of Contents
THE
    OFFERING
Issuer
Farmers National Banc Corp.
Common shares offered by us
shares
(1)
Common shares outstanding after the offering
shares
(2)
Net proceeds
The net proceeds, after underwriting discounts and commissions
    and estimated expenses, to us from the sale of the common shares
    offered will be approximately $      on
    (or approximately $      million
    if the underwriter exercises its over-allotment option in full).
Use of proceeds
We intend to use the net proceeds of this offering for general
    corporate purposes, including a capital contribution to Farmers
    Bank, which will use such amount for its general corporate
    purposes, including, but not limited to, improving its
    regulatory capital position, funding organic loan growth and
    pursuing long-term strategic opportunities.
Trading Market
Our common shares are quoted on the OTCBB under the symbol
    "FMNB.OB." On [ • ], 2010, we applied
    to list our shares on the Nasdaq under the symbol
    "[ • ]."
Dividends
We currently pay a quarterly dividend of $0.03 per share on our
    common shares. The declaration and payment of future dividends
    on our common shares will be at the discretion of our board and
    our dividend payments may be changed, reduced or eliminated
    altogether. See "Risk Factors" on
    page [ • ] of this prospectus, the
    "Risk Factors" section in our Annual Report on
Form 10-K
for the year ended December 31, 2009, which is incorporated
    by reference herein, and other information included or
    incorporated by reference in this prospectus for information
    regarding restrictions on our ability to pay dividends on our
    common shares.
(1)
The number of common shares offered assumes that the
    underwriter's over-allotment option is not exercised. If
    the over-allotment option is exercised in full, we will issue
    and sell an additional     common
    shares.
(2)
The number of common shares outstanding after this offering
    includes 13,546,248 shares outstanding as of March 31,
    2010, but does not include:
    (1)           common
    shares issuable pursuant to the underwriter's
    over-allotment option to purchase additional shares; and
    (2) 34,000 shares reserved for issuance upon exercise
    of stock options with a weighted-average exercise price of
    $10.35, which have been granted and remained outstanding as of
    March 31, 2010.
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Table of Contents
RISK
    FACTORS
Investing in our common shares involves risks. See "Risk
    Factors" beginning on page 9 of this prospectus to
    read about factors you should consider before you make your
    investment decision.
SUMMARY
    SELECTED FINANCIAL DATA
The following table sets forth our selected historical
    consolidated financial data as of and for years ended
    December 31, 2009 (which has been derived from our audited
    consolidated financial statements), and as of and for the three
    months ended March 31, 2010 and 2009 (unaudited). You
    should read this table together with the historical consolidated
    financial information contained in our consolidated financial
    statements and related notes, "Management's Discussion
    and Analysis of Financial Condition and Results of
    Operations" included in our Annual Report on
Form 10-K
for the year ended December 31, 2009 and our Quarterly
    Report on
Form 10-Q
for the quarter ended March 31, 2010, which have been filed
    with the Securities and Exchange Commission (the
    "SEC") and are incorporated by reference in this
    prospectus. Information for the three month periods ended
    March 31, 2010 and 2009 is derived from unaudited interim
    consolidated financial statements and has been prepared on the
    same basis as our audited consolidated financial statements and
    includes, in the opinion of management, all adjustments,
    consisting of only normal recurring adjustments, necessary to
    present fairly the data for such periods. The results of
    operations for the three month period ended March 31, 2010
    do not necessarily indicate the results which may be expected
    for any future period or for the full year.
As of and for the
Three Months Ended
March 31,
As of and for the Year Ended December 31,
2010
2009
2009
2008
2007
2006
2005
(Dollars in thousands, except per share data)
Summary of Earnings
Total Interest Income (including fees on loans)
$
12,126
$
11,994
$
49,775
$
46,415
$
45,538
$
44,098
$
42,481
Total Interest Expense
3,312
4,311
16,547
19,947
21,893
20,199
15,236
Net Interest Income
8,814
7,683
33,228
26,468
23,645
23,899
27,245
Provision for Loan Losses
2,778
450
6,050
1,420
570
200
649
Noninterest
    Income
(1)
2,336
1,118
9,388
2,617
4,408
5,134
4,386
Noninterest Expense
7,532
6,256
29,655
21,013
20,382
19,619
20,212
Income Before Income Taxes
840
2,095
6,911
6,652
7,101
9,214
10,770
Income Taxes
(7
)
411
1,069
987
1,176
1,999
2,710
Net Income
$
847
$
1,684
$
5,842
$
5,665
$
5,925
$
7,215
$
8,060
Per Share Data
Basic earnings per share
$
0.06
$
0.13
$
0.44
$
0.43
$
0.46
$
0.55
$
0.62
Diluted earnings per share
0.06
0.13
0.44
0.43
0.46
0.55
0.62
Cash Dividends Paid
0.03
0.12
0.36
0.52
0.64
0.64
0.64
Book Value
6.07
5.88
5.96
5.83
5.67
5.83
5.82
Tangible Book
    Value
(2)
5.53
5.29
5.41
5.83
5.67
5.83
5.82
Balances at Period-End
Total Assets
$
1,040,211
$
939,360
$
1,014,808
$
880,370
$
798,236
$
821,584
$
827,069
Allowance for Loan Losses
8,220
5,835
7,400
5,553
5,459
5,594
5,860
Net Loans
600,915
563,660
601,995
546,452
508,647
502,594
506,054
Earning Assets
976,320
879,358
948,187
829,173
745,482
778,719
776,300
Total Deposits
776,795
675,602
777,552
648,010
593,428
619,747
630,800
Short-Term Borrowings
152,205
136,058
125,912
105,435
74,174
77,792
76,963
Long-Term Borrowings
25,520
44,490
27,169
46,464
52,455
41,602
39,508
Total Stockholders' Equity
82,257
78,457
80,628
77,102
73,920
76,223
75,864
Average Balances
Total Assets
$
1,009,108
$
902,663
$
970,163
$
841,630
$
804,968
$
818,549
$
828,180
Total Stockholders' Equity
82,486
77,882
79,775
73,889
74,615
75,143
77,475
Significant Ratios
Efficiency Ratio (On tax equivalent basis)
63.74
67.47
67.00
63.02
68.00
65.04
61.54
Net Interest Margin
4.01
3.90
3.88
3.58
3.33
3.29
3.67
Return on Average Assets (ROA)
0.34
%
0.76
%
0.60
%
0.67
%
0.74
%
0.88
%
0.97
%
Return on Average Equity(ROE)
4.16
8.77
7.32
7.67
7.95
9.60
10.40
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As of and for the
Three Months Ended
March 31,
As of and for the Year Ended December 31,
2010
2009
2009
2008
2007
2006
2005
(Dollars in thousands, except per share data)
Average Earning Assets/Average Assets
92.18
93.35
92.79
93.68
94.86
94.98
94.59
Loans/Deposits
78.42
84.29
78.37
85.18
86.63
82.00
81.15
Total Capital to Risk Weighted Assets
12.15
12.24
12.03
14.01
14.95
15.84
15.75
Tier 1 Capital to Risk Weighted Assets
10.89
11.26
10.87
13.04
13.93
14.68
14.58
Tier 1 Capital to Average Assets
7.04
7.57
6.87
8.58
9.20
9.51
9.39
Tangible Common Equity
    Ratio
(2)
7.25
7.57
7.26
8.76
9.26
9.28
9.17
Non-Performing Loans to Total Loans
1.76
1.68
1.66
0.97
0.46
0.34
0.39
Non-Performing Assets to Total Assets
1.04
1.05
1.03
0.61
0.30
0.21
0.25
Allowance for Loan Losses/Total Loans
1.35
1.02
1.21
1.01
1.06
1.10
1.14
Allowance for Loan Losses/Nonperforming Loans
76.54
60.83
73.25
104.05
231.22
324.85
290.57
Annualized Net Charge-Offs to Average Net Loans Outstanding
1.32
0.12
0.71
0.26
0.14
0.09
0.19
Dividend Payout Rate
47.82
94.30
82.18
120.07
140.24
115.14
103.08
(1)
Noninterest income includes a securities impairment charge of
    approximately $74,000, $2.71 million and $873,000,
    respectively, for the years ended December 31, 2009, 2008
    and 2007.
(2)
The tangible common equity ratio is calculated by dividing total
    common stockholders' equity by total assets, after reducing
    both amounts by intangible assets. The tangible common equity
    ratio is not required by generally accepted accounting
    principles ("GAAP") or by applicable bank regulatory
    requirements, but is a metric used by management to evaluate the
    adequacy of our capital levels. Since there is no authoritative
    requirement to calculate the tangible common equity ratio, our
    tangible common equity ratio is not necessarily comparable to
    similar capital measures disclosed or used by other companies in
    the financial services industry. Tangible common equity and
    tangible assets are non-GAAP financial measures and should be
    considered in addition to, not as a substitute for or superior
    to, financial measures determined in accordance with GAAP. With
    respect to the calculation of the actual unaudited tangible
    common equity ratio as of March 31, 2010 and 2009,
    reconciliations of tangible common equity to GAAP total common
    stockholders' equity and tangible assets to GAAP total
    assets are set forth below:
Reconciliation
    of Common Stockholders' Equity to Tangible Common
    Stockholders' Equity and Total Assets to Tangible
    Assets
As of and for the
Three Months Ended
March 31,
As of and for the Year Ended December 31,
2010
2009
2009
2008
2007
2006
2005
(Dollars in thousands)
Common Stockholders' Equity
$
82,257
$
78,457
$
80,628
$
77,102
$
73,920
$
76,223
$
75,864
Less Goodwill and other intangibles
7,355
7,919
7,500
0
0
0
0
Tangible Common Stockholders' Equity
$
74,902
$
70,538
$
73,128
$
77,102
$
73,920
$
76,223
$
75,864
Reconciliation of Total Assets to Tangible Assets
Total Assets
$
1,040,211
$
939,360
$
1,014,808
$
880,370
$
798,236
$
821,584
$
827,069
Less Goodwill and other intangibles
7,355
7,919
7,500
0
0
0
0
Tangible Assets
$
1,032,856
$
931,441
$
1,007,308
$
880,370
$
798,236
$
821,584
$
827,069
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RISK
    FACTORS
An investment in our common shares involves
    risks.  You should consider carefully the risk factors
    included below as well as those discussed under the caption
    "Risk Factors" in our Annual Report on
Form 10-K
for the year ended December 31, 2009, together with all of
    the other information included in, or incorporated by reference
    into this prospectus before making a decision to invest in the
    common shares. Some of these factors relate principally to our
    business. The risks and uncertainties described below are not
    the only ones facing us. Additional risks and uncertainties not
    presently known to us or that we currently deem immaterial may
    also have a material adverse effect on our business and
    operations. If any of the matters included in the following
    risks were to occur, our business, financial condition, results
    of operations, cash flows or prospects could be materially
    adversely affected. In such case, you may lose all or part of
    your original investment.
Risks
    Related to Our Business
Difficult
    market conditions and economic trends have adversely affected
    our industry and our business.
The capital markets continued to experience difficult conditions
    through 2009 and into 2010, producing uncertainty in the
    financial markets in general and a related general economic
    downturn. Dramatic declines in the housing market that resulted
    in decreasing home prices and increasing delinquencies and
    foreclosures negatively impacted the credit performance of
    mortgage and construction loans and resulted in significant
    write-downs of assets by many financial institutions. In
    addition, the values of real estate collateral supporting many
    loans have declined and may continue to decline. These general
    downward economic trends, the reduced availability of commercial
    credit and increasing unemployment have all negatively impacted
    the credit performance of commercial and consumer credit and
    resulted in additional write-downs. Concerns over the stability
    of the financial markets and the economy have resulted in
    decreased lending by financial institutions to their customers
    and to each other. This market turmoil and tightening of credit
    has led to increased commercial and consumer deficiencies, lack
    of customer confidence, increased market volatility and
    widespread reduction in general business activity. The resulting
    economic pressure on consumers and businesses and the lack of
    confidence in the financial markets have adversely affected our
    business, financial condition, results of operations and stock
    price and may continue to do so. Also, our ability to assess the
    creditworthiness of customers and to estimate the losses
    inherent in our credit exposure is made more complex by these
    difficult market and economic conditions. Business activity
    across a wide range of industries and regions is greatly reduced
    and local governments and many companies are in serious
    difficulty due to the lack of consumer spending and the lack of
    liquidity in the credit markets. Any worsening of current
    conditions or slowing of any economic recovery would have an
    adverse effect on us, our customers and the other financial
    institutions in our market. As a result, we may experience
    increases in foreclosures, delinquencies and customer
    bankruptcies.
Our
    indirect lending exposes us to increased credit
    risks.
A portion of our current lending involves the purchase of
    consumer automobile installment sales contracts from automobile
    dealers located in Northeastern Ohio. As of March 31, 2010,
    we had approximately $120.26 million of indirect loans
    outstanding, or approximately 19.74% of our loan portfolio.
    These loans are for the purchase of new or late model used cars.
    We serve customers over a broad range of creditworthiness and
    the required terms and rates are reflective of those risk
    profiles. While these loans have higher yields than many of our
    other loans, they involve significant risks in addition to
    normal credit risk. Potential risk elements associated with
    indirect lending include the limited personal contact with the
    borrower as a result of indirect lending through dealers, the
    absence of assured continued employment of the borrower, the
    varying general creditworthiness of the borrower, changes in the
    local economy and difficulty in monitoring collateral. While
    indirect automobile loans are secured, they are secured by
    depreciating assets and characterized by loan to value ratios
    that could result in Farmers Bank not recovering the full value
    of an outstanding loan upon default by the borrower. Due to the
    economic slowdown in our primary market area, we are currently
    experiencing higher delinquencies, charge-offs and repossessions
    of vehicles in this portfolio. If the economy continues to
    contract, we may continue to experience higher levels of
    delinquencies, repossessions and charge-offs.
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We
    have significant exposure to risks associated with commercial
    and residential real estate.
A substantial portion of our loan portfolio consists of
    commercial and residential real estate-related loans, including
    real estate development, construction and residential and
    commercial mortgage loans. As of March 31, 2010, we had
    approximately $215.88 million of commercial real estate
    loans outstanding, which represented approximately 35.44% of our
    loan portfolio. As of that same date, we had approximately
    $180.72 million in residential real estate loans
    outstanding, or approximately 29.67% of our loan portfolio.
    Consequently, real estate-related credit risks are a significant
    concern for us. The adverse consequences from real
    estate-related credit risks tend to be cyclical and are often
    driven by national economic developments that are not
    controllable or entirely foreseeable by us or our borrowers.
    General difficulties in our real estate markets have recently
    contributed to increases in our non-performing loans,
    charge-offs, and decreases in our income.
Commercial
    and industrial loans may expose us to greater financial and
    credit risk than other loans.
Our commercial and industrial loan portfolio was approximately
    $80.34 million at March 31, 2010, comprising
    approximately 13.19% of our loan portfolio. Commercial and
    industrial loans generally carry larger loan balances and can
    involve a greater degree of financial and credit risk than other
    loans. Any significant failure to pay on time by our customers
    would hurt our earnings. The increased financial and credit risk
    associated with these types of loans are a result of several
    factors, including the concentration of principal in a limited
    number of loans and borrowers, the size of loan balances, the
    effects of general economic conditions on income-producing
    properties and the increased difficulty of evaluating and
    monitoring these types of loans. In addition, when underwriting
    a commercial or industrial loan, the we may take a security
    interest in commercial real estate, and, in some instances upon
    a default by the borrower, we may foreclose on and take title to
    the property, which may lead to potential financial risks for us
    under applicable environmental laws. If hazardous substances
    were discovered on any of these properties, we may be liable to
    governmental agencies or third parties for the costs of
    remediation of the hazard, as well as for personal injury and
    property damage. Many environmental laws can impose liability
    regardless of whether we knew of, or were responsible for, the
    contamination.
Changes
    in interest rates may negatively affect our earnings and the
    value of our assets.
Our earnings and cash flows depend substantially upon our net
    interest income. Net interest income is the difference between
    interest income earned on interest-earnings assets, such as
    loans and investment securities, and interest expense paid on
    interest-bearing liabilities, such as deposits and borrowed
    funds. Interest rates are sensitive to many factors that are
    beyond our control, including general economic conditions,
    competition and policies of various governmental and regulatory
    agencies and, in particular, the policies of the Federal Reserve
    Board. Changes in monetary policy, including changes in interest
    rates, could influence not only the interest we receive on loans
    and investment securities and the amount of interest they pay on
    deposits and borrowings, but such changes could also affect:
    (1) our ability to originate loans and obtain deposits;
    (2) the fair value of our financial assets and liabilities,
    including our securities portfolio; and (3) the average
    duration of our interest-earning assets. This also includes the
    risk that interest-earning assets may be more responsive to
    changes in interest rates than interest-bearing liabilities, or
    vice versa (repricing risk), the risk that the individual
    interest rates or rates indices underlying various
    interest-earning assets and interest-bearing liabilities may not
    change in the same degree over a given time period (basis risk),
    and the risk of changing interest rate relationships across the
    spectrum of interest-earning asset and interest-bearing
    liability maturities (yield curve risk), including a prolonged
    flat or inverted yield curve environment. Any substantial,
    unexpected, prolonged change in market interest rates could have
    a material adverse affect on our financial condition and results
    of operations.
Our
    allowance for loan losses may not be adequate to cover actual
    future losses.
We maintain an allowance for loan losses to cover probable and
    incurred loan losses. Every loan we make carries a certain risk
    of non-repayment, and we make various assumptions and judgments
    about the collectibility of our loan portfolio including the
    creditworthiness of our borrowers and the value of the real
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estate and other assets serving as collateral for the repayment
    of loans. Through a periodic review and consideration of the
    loan portfolio, management determines the amount of the
    allowance for loan losses by considering general market
    conditions, credit quality of the loan portfolio, the collateral
    supporting the loans and performance of customers relative to
    their financial obligations with us. The amount of future losses
    is susceptible to changes in economic, operating and other
    conditions, including changes in interest rates, which may be
    beyond our control, and these losses may exceed current
    estimates. We cannot fully predict the amount or timing of
    losses or whether the loss allowance will be adequate in the
    future. If our assumptions prove to be incorrect, our allowance
    for loan losses may not be sufficient to cover losses inherent
    in our loan portfolio, resulting in additions to the allowance.
    Excessive loan losses and significant additions to our allowance
    for loan losses could have a material adverse impact on our
    financial condition and results of operations.
We may
    be required to make further increases in our provisions for loan
    losses and to charge off additional loans in the future, which
    could materially adversely affect us.
There is no precise method of predicting loan losses. We can
    give no assurance that our allowance for loan losses is or will
    be sufficient to absorb actual loan losses. We maintain an
    allowance for loan losses, which is a reserve established
    through a provision for loan losses charged to expense, that
    represents management's best estimate of probable incurred
    losses within the existing portfolio of loans. The level of the
    allowance reflects management's evaluation of, among other
    factors, the status of specific impaired loans, trends in
    historical loss experience, delinquency trends, credit
    concentrations and economic conditions within our market area.
    The determination of the appropriate level of the allowance for
    loan losses inherently involves a high degree of subjectivity
    and judgment and requires us to make significant estimates of
    current credit risks and future trends, all of which may undergo
    material changes. Changes in economic conditions affecting
    borrowers, new information regarding existing loans,
    identification of additional problem loans and other factors,
    both within and outside of our control, may require us to
    increase our allowance for loan losses. Increases in
    nonperforming loans have a significant impact on our allowance
    for loan losses.
In addition, bank regulatory agencies periodically review our
    allowance for loan losses and may require us to increase the
    provision for loan losses or to recognize further loan
    charge-offs, based on judgments that differ from those of
    management. If loan charge-offs in future periods exceed our
    allowance for loan losses, we will need to record additional
    provisions to increase our allowance for loan losses.
    Furthermore, growth in our loan portfolio would generally lead
    to an increase in the provision for loan losses. Generally,
    increases in our allowance for loan losses will result in a
    decrease in net income and stockholders' equity, and may
    have a material adverse effect on our financial condition,
    results of operations and cash flows. Material additions to our
    allowance could also materially decrease our net income.
Changes
    in interest rates could adversely affect our income and
    financial condition.
Our income and cash flow depends to a great extent on the
    difference between the interest earned on loans and investment
    securities, and the interest paid on deposits and other
    borrowings
.
An increase in the general level of interest
    rates may adversely affect the ability of some borrowers to pay
    the interest and principal of their loans, especially borrowers
    with loans that have adjustable rates of interest. Interest
    rates are beyond our control, and they fluctuate in response to
    general economic conditions and the policies of various
    governmental and regulatory agencies, in particular the Federal
    Reserve Board. Changes in monetary policy, including changes in
    interest rates, will influence the origination of loans, the
    purchase of investments, the generation of deposits and the
    rates received on loans and investment securities and paid on
    deposits.
Changes
    in economic and political conditions could adversely affect our
    earnings.
Our success depends, to a certain extent, upon economic and
    political conditions, local and national, as well as
    governmental monetary policies. Conditions such as inflation,
    recession, unemployment, changes in interest rates, money supply
    and other factors beyond our control may adversely affect our
    asset quality, deposit levels and loan demand and, therefore,
    our earnings. Because we have a significant amount of real
    estate loans, additional decreases in real estate values could
    adversely affect the value of property used as collateral and
    our ability to sell the collateral upon foreclosure. Adverse
    changes in the economy may also
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have a negative effect on the ability of our borrowers to make
    timely repayments of their loans, which would have an adverse
    impact on our earnings. If during a period of reduced real
    estate values we are required to liquidate the collateral
    securing a loan to satisfy the debt or to increase our allowance
    for loan losses, it could materially reduce our profitability
    and adversely affect our financial condition. The substantial
    majority of our loans are to individuals and businesses in Ohio.
    Consequently, further significant declines in the economy in
    Ohio could have a materially adverse effect on our financial
    condition and results of operations. It is uncertain when the
    negative credit trends in our market will reverse and,
    therefore, future earnings are susceptible to further declining
    credit conditions in the market in which we operate.
Additional
    required capital may not be available.
We are required by federal regulatory authorities to maintain
    adequate levels of capital to support our operations. In
    addition, we may elect to raise additional capital to support
    our business or to finance acquisitions, if any, or we may
    otherwise elect or be required to raise additional capital. In
    that regard, a number of financial institutions have recently
    raised considerable amounts of capital in response to a
    deterioration in their results of operations and financial
    condition arising from the turmoil in the mortgage loan market,
    deteriorating economic conditions, declines in real estate
    values and other factors. Our ability to raise additional
    capital, if needed, will depend on conditions in the capital
    markets, economic conditions and a number of other factors, many
    of which are outside of our control, and on our financial
    performance. Accordingly, there can be no assurance that we can
    raise additional capital if needed or on terms acceptable to us.
    If we cannot raise additional capital when needed, it may have a
    material adverse effect on our financial condition, results of
    operations and prospects.
Failure
    to satisfy our individual minimum capital requirements could
    result in enforcement action against us, which could negatively
    affect our results of operations and financial
    condition.
The OCC has imposed individual minimum capital requirements that
    require Farmers Bank to maintain capital levels in excess of
    what would otherwise be required under applicable law. The OCC
    has targeted Farmers Bank to meet the following individual
    minimum capital requirements by September 30, 2010:
    Tier I Capital to Adjusted Total Assets of 7.20% and Total
    Capital to Risk-Weighted Assets of 11.00%. At March 31,
    2010, Farmers Bank's Tier 1 Capital to Adjusted Total
    Assets was approximately 6.68% and Total Capital to
    Risk-Weighted Assets was approximately 11.50%. Failure to comply
    with the individual minimum capital requirements in the time
    frames provided, or at all, could result in enforcement orders
    or penalties from our regulators, which could have a material
    adverse effect on our business, financial condition and results
    of operations.
Legislative
    or regulatory changes or actions, or significant litigation,
    could adversely impact us or the businesses in which we are
    engaged.
The financial services industry is extensively regulated. We are
    subject to extensive state and federal regulation, supervision
    and legislation that govern almost all aspects of our
    operations. Laws and regulations may change from time to time
    and are primarily intended for the protection of consumers,
    depositors and the deposit insurance funds, and not to benefit
    our shareholders. The impact of any changes to laws and
    regulations or other actions by regulatory agencies may
    negatively impact us or our ability to increase the value of our
    business. Regulatory authorities have extensive discretion in
    connection with their supervisory and enforcement activities,
    including the imposition of restrictions on the operation of an
    institution, the classification of assets by the institution and
    the adequacy of an institution's allowance for loan losses.
    Additionally, actions by regulatory agencies or significant
    litigation against us could require us to devote significant
    time and resources to defending our business and may lead to
    penalties that materially affect us and our shareholders.
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We
    extend credit to a variety of customers based on internally
    established standards and judgment. We manage credit risk
    through a program of underwriting standards, the review of
    certain credit decisions and an on-going process of assessment
    of the quality of the credit already extended. Our credit
    standards and on-going process of credit assessment might not
    protect us from significant credit losses.
We take credit risk by virtue of making loans and leases,
    extending loan commitments and letters of credit and, to a
    lesser degree, purchasing non-governmental securities. Our
    exposure to credit risk is managed through the use of consistent
    underwriting standards that emphasize "in-market"
    lending while avoiding highly leveraged transactions as well as
    excessive industry and other concentrations. Our credit
    administration function employs risk management techniques to
    ensure that loans and leases adhere to corporate policy and
    problem loans and leases are promptly identified. While these
    procedures are designed to provide us with the information
    needed to implement policy adjustments where necessary, and to
    take proactive corrective actions, there can be no assurance
    that such measures will be effective in avoiding undue credit
    risk.
Future
    FDIC premiums could be substantially higher and would have an
    unfavorable effect on earnings.
The FDIC projects higher premiums to be necessary because
    financial institution failures resulting from the depressed
    market conditions have depleted and may continue to deplete the
    deposit insurance fund and reduce its ratio of reserves to
    insured deposits. The FDIC, in an effort to avoid larger
    increases in the premiums, has already taken action to collect
    FDIC premiums for the next three years in advance. If any
    additional assessments or large premium increases occur in the
    future, they would negatively affect our financial condition and
    results of operation.
We
    depend on our subsidiaries for dividends, distributions and
    other payments.
As a bank holding company, we are a legal entity separate and
    distinct from our subsidiaries
.
Our principal source of
    funds to pay dividends on our common shares is dividends from
    these subsidiaries. In the event our subsidiaries become unable
    to pay dividends to us, we may not be able to pay dividends on
    our common shares. Accordingly, our inability to receive
    dividends from our subsidiaries could also have a material
    adverse effect on our business, financial condition and results
    of operations.
Federal and state statutory provisions and regulations limit the
    amount of dividends that our banking and other subsidiaries may
    pay to us without regulatory approval. Our banking subsidiaries
    generally may not, without prior regulatory approval, pay a
    dividend in an amount greater than their undivided profits. In
    addition, the prior approval of the OCC is required for the
    payment of a dividend by Farmers Bank if the total of all
    dividends declared in a calendar year would exceed the total of
    its retained net income for the year combined with its retained
    net income for the two preceding years. The Federal Reserve
    Board and the OCC have issued policy statements that provide
    that insured banks and bank holding companies should generally
    only pay dividends out of current operating earnings. The
    ability of Farmers Bank to pay dividends in the future is
    currently influenced, and could be further influenced, by bank
    regulatory policies and capital guidelines and may restrict our
    ability to declare and pay dividends.
We may
    not be able to attract and retain skilled people.
Our success depends, in large part, on our ability to attract
    and retain key people. Competition for the best people in most
    activities in which we engage can be intense, and we may not be
    able to retain or hire the people we want or need. In order to
    attract and retain qualified employees, we must compensate our
    employees at market levels. If we are unable to continue to
    attract and retain qualified employees, or do so at rates
    necessary to maintain our competitive position, our performance,
    including our competitive position, could suffer, and, in turn,
    adversely affect our business, financial condition and results
    of operations.
We may
    be adversely impacted by weakness in the local economies we
    serve.
Our business activities are geographically concentrated in
    Northeast Ohio and, in particular, Mahoning, Trumbull and
    Columbiana County, Ohio, where commercial activity has
    deteriorated at a greater rate than in other parts of Ohio and
    in the national economy. This has led to and may lead to further
    unexpected deterioration in loan quality, and slower asset and
    deposit growth, which may adversely affect our business,
    financial condition and results of operations.
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The
    soundness of other financial institutions could adversely affect
    us.
Our ability to engage in routine funding transactions could be
    adversely affected by the actions and commercial soundness of
    other financial institutions. Financial services institutions
    are interrelated as a result of trading, clearing, counterparty
    or other relationships. We have exposure to many different
    industries and counterparties, and we routinely execute
    transactions with counterparties in the financial industry. As a
    result, defaults by, or even rumors or questions about, one or
    more financial services institutions, or the financial services
    industry generally, have led to market-wide liquidity problems
    and could lead to losses or defaults by us or by other
    institutions. Many of these transactions expose us to credit
    risk in the event of default of our counterparty or client. In
    addition, our credit risk may be exacerbated when the collateral
    that we hold cannot be realized upon or is liquidated at prices
    insufficient to recover the full amount of the loan. We cannot
    assure you that any such losses would not materially and
    adversely affect our business, financial condition or results of
    operations.
Impairment
    of investment securities, goodwill, other intangible assets, or
    deferred tax assets could require charges to earnings, which
    could result in a negative impact on our results of
    operations.
In assessing the impairment of investment securities, we
    consider the length of time and extent to which the fair value
    has been less than cost, the financial condition and near-term
    prospects of the issuers, whether the market decline was
    affected by macroeconomic conditions and whether we have the
    intent to sell the debt security or will be required to sell the
    debt security before its anticipated recovery. Under current
    accounting standards, goodwill and certain other intangible
    assets with indeterminate lives are no longer amortized but,
    instead, are assessed for impairment periodically or when
    impairment indicators are present. Assessment of goodwill and
    such other intangible assets could result in circumstances where
    the applicable intangible asset is deemed to be impaired for
    accounting purposes. Under such circumstances, the intangible
    asset's impairment would be reflected as a charge to
    earnings in the period. Deferred tax assets are only recognized
    to the extent it is more likely than not they will be realized.
    Should our management determine it is not more likely than not
    that the deferred tax assets will be realized, a valuation
    allowance with a change to earnings would be reflected in the
    period.
A
    substantial decline in the value of our Federal Home Loan Bank
    of Cincinnati common stock may adversely affect our financial
    condition.
We own common stock of the Federal Home Loan Bank of Cincinnati
    (the "FHLB"), in order to qualify for membership in
    the Federal Home Loan Bank system, which enables us to borrow
    funds under the Federal Home Loan Bank advance program. The
    carrying value of our FHLB common stock was approximately
    $3.1 million as of December 31, 2009.
Published reports indicate that certain member banks of the
    Federal Home Loan Bank system may be subject to asset quality
    risks that could result in materially lower regulatory capital
    levels. In December 2008, certain member banks of the Federal
    Home Loan Bank system (other than the FHLB) suspended dividend
    payments and the repurchase of capital stock until further
    notice. In an extreme situation, it is possible that the
    capitalization of a Federal Home Loan Bank, including the FHLB,
    could be substantially diminished or reduced to zero.
    Consequently, given that there is no market for our FHLB common
    stock, we believe that there is a risk that our investment could
    be deemed
other-than-temporarily
impaired at some time in the future. If this occurs, it may
    adversely affect our results of operations and financial
    condition. If the FHLB were to cease operations, or if we were
    required to write-off our investment in the FHLB, our business,
    financial condition, liquidity, capital and results of
    operations may be materially adversely affected.
Our
    business strategy includes significant growth plans. Our
    financial condition and results of operations could be
    negatively affected if we fail to grow or fail to manage our
    growth effectively.
We intend to continue pursuing a profitable growth strategy both
    within our existing markets and in new markets. Our prospects
    must be considered in light of the risks, expenses and
    difficulties frequently encountered by companies in significant
    growth stages of development. We cannot assure you that we will
    be
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able to expand our market presence in our existing markets or
    successfully enter new markets or that any such expansion will
    not adversely affect our results of operations. Failure to
    manage our growth effectively could have a material adverse
    effect on our business, future prospects, financial condition or
    results of operations and could adversely affect our ability to
    successfully implement our business strategy. Also, if we grow
    more slowly than anticipated, our operating results could be
    materially adversely affected.
Risks
    Related to an Investment in Our Common Shares
Our
    common shares represent equity interests in Farmers and rank
    junior to all of our existing and future indebtedness.
    Regulatory, statutory and contractual restrictions may limit or
    prevent us from paying dividends on our common shares and there
    is no limitation on the amount of indebtedness we may incur in
    the future.
Our common shares are equity interests in Farmers. As such, our
    common shares rank junior to all of our indebtedness and to
    other non-equity claims with respect to assets available to
    satisfy claims on Farmers, including in a liquidation.
    Additionally, unlike indebtedness, for which principal and
    interest customarily are payable on specified due dates, in the
    case of our common shares: (1) dividends are payable only
    when, as and if authorized and declared by our board and depend
    on, among other things, our results of operations, financial
    condition, debt service requirements, other cash needs and any
    other factors our board deems relevant; and (2) as an Ohio
    corporation, under Ohio law, we are subject to restrictions on
    payments of dividends out of lawfully available funds. We and
    our subsidiaries may incur substantial amounts of additional
    debt and other obligations that will rank senior to our common
    shares.
We
    could change or eliminate our historic practice of paying
    dividends in the future.
Holders of our common shares are entitled to receive dividends
    only when, as and if declared by our board. Although we have
    historically paid dividends on our common shares, we are not
    required to do so, and our board could reduce or eliminate
    dividends paid on our common shares in the future. Consequently,
    prospective investors should not expect that future dividends
    will be paid at current levels or at all. Future modifications,
    reductions or the elimination of dividends paid on our common
    shares could adversely affect the market price of our common
    shares.
The
    low trading volume in our common shares may adversely affect
    your ability to resell shares at prices that you find
    attractive, or at all.
Our common shares are traded on the OTCBB. The average daily
    trading volume for our common shares is less than larger
    financial institutions. During the past 12 months, the
    average daily trading volume for our common shares on the OTCBB
    was approximately [ • ] shares. Due to its
    relatively small trading volume, sales of our common shares may
    place significant downward pressure on the market price of our
    common shares. Furthermore, it may be difficult for holders to
    resell their shares at prices they find attractive, or at all.
The
    price of our common shares may fluctuate significantly and this
    may make it difficult for you to resell our common shares when
    you want or at prices you find attractive.
The market value of our common shares will likely continue to
    fluctuate in response to a number of factors, most of which are
    beyond our control. The market value of our common shares may
    also be affected by conditions affecting the financial markets
    generally, including the recent volatility of the trading
    markets. These conditions may result in: (1) fluctuations
    in the market prices of stocks generally and, in turn, our
    common shares; and (2) sales of substantial amounts of our
    common shares in the market, in each case that could be
    unrelated or disproportionate to changes in our operating
    performance. These broad market fluctuations may adversely
    affect the market value of our common shares. A significant
    decline in our stock price could result in substantial losses
    for shareholders and could lead to costly and disruptive
    securities litigation.
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There
    may be future sales of additional common shares or preferred
    shares or other dilution of our equity, which may adversely
    affect the market price of our common shares.
Assuming the approval by our shareholders of the proposed
    amendments to our Articles of Incorporation, as amended (the
    "Articles") described in our proxy statement dated
    May 12, 2010, which is incorporated herein by reference, we
    are not restricted from issuing additional common shares or
    preferred shares, including any securities that are convertible
    into or exchangeable for, or that represent the right to
    receive, common shares or preferred shares or any substantially
    similar securities. The per share value of our common shares
    could decline as a result of sales by us of a large number of
    our common shares or preferred shares or similar securities in
    the market or the perception that such sales could occur.
Anti-takeover
    provisions could negatively impact our
    shareholders.
Provisions of Ohio law, our Articles and our Amended Code of
    Regulations (the "Regulations" and, collectively with
    the Articles, our "Corporate Governance Documents"),
    could make it more difficult for a third party to acquire
    control of us or could have the effect of discouraging a third
    party from attempting to acquire control of us.
CAUTIONARY
    NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in, or incorporated by reference
    into, this prospectus are "forward-looking statements"
    within the meaning of the federal securities laws, including,
    without limitation, statements regarding our outlook on
    earnings, asset quality, projected growth, capital position,
    business opportunities in our markets and economic conditions,
    and are based upon management's beliefs as well as
    assumptions made based on data currently available to
    management. When we use words like "believe,"
    "intend," "plan," "may,"
    "continue," "project," "would,"
    "expect," "estimate," "could,"
    "should," "will" and similar expressions,
    you should consider them as identifying forward-looking
    statements. These forward-looking statements are not guarantees
    of future performance, and a variety of factors could cause our
    actual results to differ materially from the anticipated or
    expected results expressed in these forward-looking statements.
    Many of these factors are beyond our ability to control or
    predict, and readers are cautioned not to put undue reliance on
    those forward-looking statements. The following list, which is
    not intended to be an all-encompassing list of risks and
    uncertainties affecting us, summarizes several factors that
    could cause our actual results to differ materially from those
    anticipated or expected in these forward-looking statements:
•
general economic conditions in market areas where we conduct
    business, which could materially impact credit quality trends;
•
business conditions in the banking industry;
•
the regulatory environment;
•
fluctuations in interest rates;
•
demand for loans in the market areas where we conduct business;
•
rapidly changing technology and evolving banking industry
    standards;
•
competitive factors, including increased competition with
    regional and national financial institutions;
•
new service and product offerings by competitors and price
    pressures; and
•
other like items.
We undertake no obligation to update publicly forward-looking
    statements, whether as a result of new information, future
    events or otherwise, except as may be required by law. You are
    advised, however, to consult any further disclosures we make on
    related subjects in our Annual Reports on
Form 10-K,
Quarterly Reports on
Form 10-Q
and Current Reports on
Form 8-K
filed with the SEC. Also note that we provide cautionary
    discussion of risks, uncertainties and assumptions relevant to
    our business in our Annual Report on
Form 10-K,
our Quarterly Report on
Form 10-Q
and in our Current Reports on
Form 8-K
incorporated by
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reference herein. These are factors that, individually or in the
    aggregate, management believes could cause our actual results to
    differ materially from expected and historical results. We note
    these factors for investors as permitted by the Private
    Securities Litigation Reform Act of 1995. You should understand
    that it is not possible to predict or identify all such factors.
    Consequently, you should not consider such disclosures to be a
    complete discussion of all potential risks or uncertainties.
USE OF
    PROCEEDS
The net proceeds, after underwriting discounts and commissions
    and estimated expenses, to us from the sale of the common shares
    offered will be approximately $      on
    (or approximately $      million
    if the underwriter exercises its over-allotment option in full).
    We intend to use the net proceeds of this offering for general
    corporate purposes, including a capital contribution to Farmers
    Bank, which will use such amount for its general corporate
    purposes, including, but not limited to, improving its
    regulatory capital position, funding organic loan growth and
    pursuing long-term strategic opportunities.
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CAPITALIZATION
The following table sets forth our capitalization as of
    March 31, 2010. Our capitalization is presented on a
    historical basis and on a pro forma basis as if the offering had
    been completed as of March 31, 2010 and assuming the sale
    of          common
    shares at a price of $      per share
    and that the underwriter's over-allotment option is not
    exercised.
The following information should be read in conjunction with our
    consolidated financial statements for the year ended
    December 31, 2009, and the notes thereto, included in our
    Annual Report on
Form 10-K
for the year ended December 31, 2009, and the unaudited
    consolidated financial statements for the three months ended
    March 31, 2010, and the notes thereto, included in our
    Quarterly Report on
Form 10-Q
for the period ended March 31, 2010, each of which is
    incorporated by reference herein.
As of March 31,
2010
Actual
As Adjusted
(Unaudited)
(Dollars in thousands)
Stockholders' Equity:
Common Stock — Authorized 25,000,000 shares;
    issued 13,546,248 and     , respectively
$
95,770
$
Retained earnings
7,579
Accumulated other comprehensive income (loss), net of tax
4,411
Treasury stock, at cost; 2,053,111 shares
(25,503
)
Total Stockholders' Equity
$
82,257
$
Capital Ratios for Farmers National Banc
    Corp.
(1)
Tier 1 Capital to average assets ratio
7.04
%
%
Tier 1 to risk-weighted assets ratio
10.89
%
%
Total capital to risk-weighted assets
12.15
%
%
(1)
The as adjusted capital ratios assume the initial deployment of
    the net proceeds of the offering in short term investments
    carrying a 20% risk-weighting under applicable regulations.
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MARKET
    FOR COMMON SHARES AND OUR DIVIDEND POLICY
Our common shares are traded on the OTCBB. The average daily
    trading volume for our common shares is less than larger
    financial institutions. On [ • ], 2010, we
    applied to have our common shares listed on the Nasdaq. During
    the past 12 months, the average daily trading volume for
    our common shares on the OTCBB was approximately
    [ • ] shares. No assurance can be given that
    a very active trading market will develop in the foreseeable
    future or can be maintained. As of [ • ], 2010,
    we had [ • ] common shares outstanding, held by
    approximately [ • ] holders of record.
The following table sets forth the high and low closing sales
    prices per common share reported for the periods presented, and
    the cash dividends paid per common share, for the periods shown.
Quarter Ended
High
Low
Cash Dividend
June 30, 2010 (through [ • ], 2010)
$
[ • ]
$
[ • ]
$
[ • ]
March 31, 2010
$
4.80
$
4.10
$
0.03
December 31, 2009
$
5.35
$
4.01
$
0.06
September 30, 2009
$
6.00
$
4.71
$
0.06
June 30, 2009
$
6.80
$
4.75
$
0.12
March 31, 2009
$
6.05
$
3.65
$
0.12
December 31, 2008
$
7.24
$
3.55
$
0.12
September 30, 2008
$
7.55
$
5.50
$
0.12
June 30, 2008
$
8.45
$
7.05
$
0.12
The amount and type (cash or stock), if any, of future dividends
    will be determined by our board and will depend on our earnings,
    financial conditions and other factors considered by our board
    to be relevant. There can be no assurance as to when, or if, our
    board will increase dividends above this level.
Additionally, the payment of cash dividends on our common shares
    will depend largely upon the ability of Farmers Bank to declare
    and pay dividends to us. Farmers Bank's ability to pay
    dividends will depend primarily upon its earnings, financial
    condition, and need for funds, as well as applicable
    governmental policies. Even if we have earnings in an amount
    sufficient to pay dividends, Farmers Bank's board of
    directors may determine to retain earnings for the purpose of
    funding growth. Farmers Bank generally pays a dividend to us to
    provide funds for: (1) dividends the we pay our
    shareholders; treasury share repurchases; and other expenses.
There are various legal limitations with respect to Farmers
    Bank's ability to pay dividends to us and our ability to
    pay dividends to shareholders. Under the Ohio General
    Corporation Law, we may pay dividends out of surplus, however
    created, but must notify our shareholders if a dividend is paid
    out of capital surplus. Our ability to pay dividends to our
    shareholders is largely dependent on the amount of dividends
    which may be declared and paid to us by our subsidiaries. Under
    Federal banking law, the prior approval of the Federal Reserve
    Board and the OCC may be required in certain circumstances prior
    to the payment of dividends by us or Farmers Bank. The OCC has
    the authority to prohibit a national bank from paying dividends
    if such payment is deemed to be an unsafe or unsound practice,
    and the Federal Reserve Board has the same authority over bank
    holding companies.
The Federal Reserve Board has established guidelines with
    respect to the maintenance of appropriate levels of capital by
    registered bank holding companies. Compliance with such
    standards, as presently in effect, or as they may be amended
    from time to time, could possibly limit the amount of dividends
    that we may pay in the future. The Federal Reserve Board's
    guidelines generally require us to review the effects of the
    cash payment of dividends on common stock and other Tier 1
    capital instruments (i.e., perpetual preferred stock and trust
    preferred debt) on our financial condition. The guidelines also
    require that we review our net income.
Any future determination to pay dividends will be at the
    discretion of our board, subject to applicable limitations under
    Ohio law, and will be dependent upon our results of operations,
    financial condition, contractual restrictions and other factors
    deemed relevant by our board.
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DESCRIPTION
    OF CAPITAL STOCK
The following description of our capital stock assumes
    approval by our shareholders of the proposed amendments to our
    Articles described in the proxy statement dated May 12,
    2010, which is incorporated herein by reference
.
Upon completion of this offering, our authorized capital stock
    will consist of 24,000,000 common shares and 1,000,000
    preferred shares. Immediately prior to this offering, there were
    [ • ] of our common shares outstanding and no
    preferred shares outstanding. At that time, there were
    approximately [ • ] holders of record of our
    common shares. In addition, immediately prior to this offering,
    there were options to purchase [ • ] common
    shares. Assuming the sale
    of          common
    shares in this offering, we will have a total
    of          common
    shares and no preferred shares outstanding immediately following
    this offering.
Common
    Shares
Each outstanding common share is entitled to one vote on all
    matters submitted to a vote of shareholders. Shareholders do not
    have the right to vote cumulatively in the election of
    directors. Subject to any superior rights of any holders of
    preferred shares, each outstanding common share will be entitled
    to such dividends as may be declared from time to time by our
    board of directors out of legally available funds. In the event
    of our liquidation, dissolution or winding up, holders of our
    common shares will be entitled to their proportionate share of
    any assets remaining after payment of liabilities and any
    amounts due to the holders of preferred stock. Holders of our
    common shares have no preemptive rights and no right to convert
    or exchange their common shares into any other securities. No
    preemptive rights, redemption or sinking fund provisions apply
    to our common shares. All outstanding common shares are, and all
    common shares to be outstanding upon completion of this offering
    will be, fully paid and non-assessable. In addition to
    the          common
    shares that will be outstanding upon the closing of this
    offering, as of [ • ], 2010, employee stock
    options to purchase up to [ • ] common shares
    were exercisable.
Preferred
    Shares
Our board is authorized, without shareholder approval, to issue
    up to 1,000,000 preferred shares in one or more series and to
    fix the rights, preferences, privileges and restrictions granted
    to or imposed upon the preferred shares, including voting
    rights, dividend rights, conversion rights, terms of redemption,
    liquidation preference, sinking fund terms and the number of
    shares constituting any series or the designation of a series.
    Our board can, without shareholder approval, issue preferred
    shares with voting and conversion rights that could adversely
    affect the voting power of the holders of common shares. Any
    preferred shares issued would also rank senior to our common
    shares as to rights upon liquidation,
winding-up
or dissolution. The issuance of convertible preferred shares
    could have the effect of delaying, deferring or preventing a
    change in control of our company. We have no present plan to
    issue any preferred shares.
Authorized
    but Unissued Capital Stock
The authorized but unissued common shares and preferred shares
    may be issued without further shareholder approval. These shares
    may be used for a variety of corporate purposes, including
    future private or public offerings, to raise additional capital
    or facilitate acquisitions. The existence of authorized but
    unissued common shares and preferred shares could render more
    difficult or discourage an attempt to obtain control of us by
    means of a merger, tender offer, proxy context or otherwise.
Anti-takeover
    Effects of our Charter Documents and Ohio Law
There are provisions in our Corporate Governance Documents, and
    in the Ohio General Corporation Law (the "OGCL") that
    could discourage potential takeover attempts and make attempts
    by shareholders to change
20
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management more difficult. These provisions could adversely
    affect the market price of our shares. In addition to our
    preferred shares described above:
Classified Board of Directors.
Our Articles
    provide for our board to be divided into three classes of
    directors, as nearly equal in number as possible, serving
    staggered terms. Approximately one-third of our board will be
    elected by the shareholders each year. This classification
    system makes it more difficult to replace a majority of the
    directors and may tend to discourage a third-party from making a
    tender offer or otherwise attempting to gain control of us. It
    also may maintain the incumbency of our board.
Business Combinations.
Subject to certain
    exceptions, our Articles prohibit us from consummating a
    "Business Combination" except with the approval by the
    affirmative vote of the holders of shares entitling them to
    exercise at least 80% of the voting power. In the case of any
    Business Combination that has been approved by a vote of at
    least two-thirds of our disinterested directors, and which those
    directors have determined to be fair and equitable to all
    shareholders, may be consummated with the approval by the
    affirmative vote of the holders of shares entitling them to
    exercise at least two-thirds of the voting power. Our Articles
    define a "Business Combination" to mean any:
•
merger or consolidation of Farmers;
•
sale, lease exchange, transfer or other disposition of all or
    substantially all of our assets;
•
adoption of any plan of liquidation and dissolution of
    Farmers; or
•
reclassification of securities, recapitalization or
    reorganization which would increase, directly or indirectly, the
    proportionate equity interest or control by an acquiring entity
    (excluding any such transaction with an entity controlled by us).
Acquisitions of More Than 10% of Our Voting
    Power.
Subject to certain exceptions, our
    Articles provide that in no event may any person seek to acquire
    directly or indirectly, common shares which would entitle such
    acquiring entity, immediately after such acquisition, either
    directly or indirectly, alone or with others, to exercise or
    direct the exercise of 10% or more of the voting power of
    Farmers (a "control share acquisition") unless
•
prior approval at a special meeting of shareholders is given by
    an affirmative vote of the holders of shares entitling them to
    exercise at least 80% of the voting power and by the affirmative
    vote of the holders of shares entitling them to exercise at
    least 80% of that portion of such voting power excluding:
•
shares which are already owned by the acquiring entity;
•
shares which the acquiring entity has the right to vote,
    acquire, or control; and
•
shares owned by our employees who are also our directors or
•
the board, by a vote of at least two-thirds of the entire board,
    determines that the proposed control share acquisition will be
    made to all of our shareholders at the same time on a uniform
    and fair basis, for all of the outstanding shares other than
    those shares which are already owned by the acquiring entity),
    and prior approval a special meeting of shareholders to is given
    by an affirmative vote of the holders of shares entitling them
    to exercise at least a two-thirds majority of the voting power
    and by the affirmative vote of the holders of shares entitling
    them to exercise at least a two-thirds majority of such voting
    power excluding:
•
shares which are already owned by the acquiring entity;
•
shares which the acquiring entity has the right to vote,
    acquire, or control; and
•
shares owned by our employees who are also our directors.
The board must call a special meeting of shareholders for voting
    on the proposed control share acquisition to be held within
    50 days after the receipt by us of a statement from the
    acquiring entity providing certain information as set forth in
    the Articles, including that the acquiring entity has received
    all necessary regulatory approvals and consents to make such
    control share acquisition and that the proposed control share
    acquisition,
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if consummated, will not be contrary to law. The board has no
    obligation to call such a meeting if it determines in good faith
    by a vote of at least two-thirds of the entire board that the
    proposed control share acquisition is contrary to law or cannot
    be consummated for financial reasons. Any control share
    acquisition which is authorized as set out above must be
    consummated in accordance with the terms set forth in the
    acquiring entity's statement to us within 180 days
    following such shareholder approval.
Any shares acquired in a control share acquisition not
    authorized as provided above will be excluded from voting in any
    subsequent meeting of the shareholders. Additionally, the
    Secretary will direct the transfer agent to refuse to transfer
    shares on our books which represent shares acquired in a control
    share acquisition not authorized as provided above.
Ohio Merger Moratorium Statute.
We are an
    "issuing public corporation" as defined under Ohio
    law. Chapter 1704 of the OGCL governs transactions between
    an issuing public corporation and
•
an "interested shareholder," which, generally, means
    someone who becomes a beneficial owner of 10% or more of the
    shares of the corporation without the prior approval of the
    board of directors of the corporation; and
•
persons affiliated or associated with an interested shareholder.
For at least three years after an interested shareholder becomes
    such, the following transactions are prohibited if they involve
    both the issuing public corporation and either an interested
    shareholder or anyone affiliated or associated with an
    interested shareholder:
•
the disposition or acquisition of any interest in assets;
•
mergers, consolidations, combinations and majority share
    acquisitions;
•
voluntary dissolutions or liquidations; and the issuance or
    transfer of shares or any rights to acquire shares in excess of
    5% of the outstanding shares.
Subsequent to the three-year period, these transactions may take
    place provided that either of the following conditions are
    satisfied:
•
the transaction is approved by the holders of shares with at
    least two-thirds of the voting power of the corporation, or a
    different proportion set forth in the articles of incorporation,
    including at least a majority of the outstanding shares after
    excluding shares controlled by the interested
    shareholder; or
•
the business combination results in shareholders, other than the
    interested shareholder, receiving a fair price, as determined by
    Section 1704.03(A)(4), for their shares.
If, prior to the acquisition of shares by which a person becomes
    an interested shareholder, the board of directors of the
    corporation approves the transaction by which the person would
    become an interested shareholder, then Chapter 1704's
    prohibition does not apply. The prohibition imposed by
    Chapter 1704 continues indefinitely after the initial
    three-year period unless the subject transaction is approved by
    the requisite vote of the shareholders or satisfies statutory
    conditions relating to the fairness of consideration received by
    shareholders, other than the interested shareholder.
Chapter 1704 does not apply to a corporation if its
    articles of incorporation or code of regulations state that it
    does not apply. We have not opted out of the application of this
    statute.
Ohio Control Share Statute.
We are subject to
    Section 1701.831 of the Ohio Revised Code, which requires
    the prior authorization of the shareholders of an issuing public
    corporation in order for any person to acquire, either directly
    or indirectly, shares of that corporation that would entitle the
    acquiring person to exercise or direct the exercise of one-fifth
    or more of the voting power of that corporation in the election
    of directors or to exceed specified other percentages of voting
    power.
A person proposing to make an acquisition of our shares subject
    to the statute must deliver to the corporation a statement
    disclosing, among other things:
•
the number of shares owned, directly or indirectly, by the
    person;
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•
the range of voting power that may result from the proposed
    acquisition;
•
and the identity of the acquiring person.
Within 10 days after receiving this statement, the
    corporation must call a special meeting of shareholders to vote
    on the proposed acquisition. The acquiring person may complete
    the proposed acquisition only if the acquisition is approved by
    the affirmative vote of the holders of at least a majority of
    the voting power of all shares entitle to vote in the election
    of directors represented at the meeting excluding the voting
    power of all "interested shares." Interested shares
    include any shares held by the acquiring person and those held
    by officers and directors of the corporation as well as by
    certain others, including many holders commonly characterized as
    arbitrageurs.
Section 1701.831 does not apply to a corporation if its
    articles of incorporation or code of regulations state that it
    does not apply. We have not opted out of the application of this
    statute.
Listing
Our common shares are quoted the OTCBB under the symbol
    "FMNB.OB." On [ • ], 2010, we applied
    to list our shares on the Nasdaq under the symbol
    "[ • ]."
Transfer
    Agent and Registrar
We act as the transfer agent and registrar for our common shares.
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Table of Contents
UNDERWRITING
We are offering our common shares described in this prospectus
    in an underwritten offering in which Sandler
    O'Neill & Partners, L.P. is acting as sole
    underwriter. We will enter into an underwriting agreement with
    Sandler O'Neill & Partners, L.P. with respect to
    the common shares being offered. Subject to the terms and
    conditions contained in the underwriting agreement, Sandler
    O'Neill & Partners, L.P. has agreed to purchase
    all of the common shares being offered by this prospectus:
Amount of
Underwriter
Common Shares
Sandler O'Neill & Partners, L.P.
Total
The underwriting agreement provides that the underwriter's
    obligation to purchase our common shares depends on the
    satisfaction of the conditions contained in the underwriting
    agreement, including:
•
the representations and warranties made by us are true and
    agreements have been performed;
•
there is no material adverse change in the financial markets or
    in our business; and
•
we deliver customary closing documents.
Subject to these conditions, the underwriter is committed to
    purchase and pay for all of our common shares offered by this
    prospectus, if any such shares are purchased. However, the
    underwriter is not obligated to take or pay for the common
    shares covered by the underwriter's over-allotment option
    described below, unless and until that option is exercised.
Over-Allotment
    Option.
We have granted the underwriter an option, exercisable no later
    than 30 days after the date of the underwriting agreement,
    to purchase up to an aggregate
    of          additional
    common shares at the public offering price, less the
    underwriting discount set forth on the cover page of this
    prospectus. We will be obligated to sell these common shares to
    the underwriter to the extent the over-allotment option is
    exercised. The underwriter may exercise this option only to
    cover over-allotments, if any, made in connection with the sale
    of our common shares offered by this prospectus.
Commissions
    and Expenses.
The underwriter proposes to offer our common shares directly to
    the public at the offering price set forth on the cover page of
    this prospectus and to dealers at the public offering price less
    a concession not in excess of $     
    per share. The underwriter may allow, and the dealers may
    re-allow, a concession not in excess of
    $      per share on sales to other
    brokers and dealers. After the public offering of our common
    shares, the underwriter may change the offering price,
    concessions and other selling terms.
The following table shows the per share and total underwriting
    discounts and commissions that we will pay to the underwriter
    and the proceeds we will receive before expenses. These amounts
    are shown assuming both no exercise and full exercise of the
    underwriter's option to purchase additional common shares.
Total Without
Total With
Per Share
Over-Allotment
Over-Allotment
Price to public
$
$
$
Underwriting discounts and commissions
$
$
$
Proceeds, before expenses to Farmers National Banc Corp.
$
$
$
In addition to the underwriting discount, we will reimburse the
    underwriter for its reasonable
out-of-pocket
expenses, incurred in connection with its engagement as
    underwriter, regardless of whether this offering is consummated,
    including, without limitation, legal fees and expenses,
    marketing, syndication and
24
Table of Contents
travel expenses. We estimate that the total expenses of this
    offering, exclusive of the underwriting discounts and
    commissions, will be approximately
    $     , and are payable by us.
Indemnity.
We have agreed to indemnify the underwriter, and persons who
    control the underwriter, against certain liabilities, including
    liabilities under the Securities Act, and to contribute to
    payments that the underwriter may be required to make in respect
    of these liabilities.
Lock-Up
Agreement.
We, and each of our directors and executive officers, have
    agreed for a period of [ • ] days after the
    date of this prospectus, subject to certain exceptions, to not
    sell, offer, agree to sell, contract to sell, hypothecate,
    pledge, grant any option to purchase, make any short sale or
    otherwise dispose of or hedge, directly or indirectly, any
    common shares or securities convertible into, exchangeable or
    exercisable for any of our common shares or warrants or other
    rights to purchase common shares or any other of our securities
    that are substantially similar to our common shares without, in
    each case, the prior written consent of Sandler
    O'Neill & Partners, L.P. These restrictions are
    expressly agreed to preclude us, and our executive officers and
    directors, from engaging in any hedging or other transactions or
    arrangement that is designed to, or which reasonably could be
    expected to, lead to or result in a sale, disposition or
    transfer, in whole or in part, of any of the economic
    consequences of ownership of our common shares, whether such
    transaction would be settled by delivery of common shares or
    other securities, in cash or otherwise. The
[ • ]-day
restricted period described above will be automatically extended
    if (1) during the period that begins on the date that is 15
    calendar days plus 3 business days before the last day of the
[ • ]-day
restricted period and ends on the last day of the
[ • ]-day
restricted period, we issue an earnings release or material news
    or a material event relating to us occurs, or (2) prior to
    the expiration of the
[ • ]-day
restricted period, we announce that we will release earnings
    results or become aware that material news or a material event
    would occur during the
16-day
period beginning on the last day of the
[ • ]-day
restricted period, then the restricted period will continue to
    apply until the expiration of the date that is 15 calendar days
    plus 3 business days after the date on which the earnings
    release is issued or the material news or material event
    relating to us occurs.
Stabilization.
In connection with this offering, the underwriter may engage in
    stabilizing transactions, over-allotment transactions, syndicate
    covering transactions and penalty bids:
•
Stabilizing transactions permit bids to purchase common shares
    so long as the stabilizing bids do not exceed a specified
    maximum, and are engaged in for the purpose of preventing or
    retarding a decline in the market price of the common shares
    while the offering is in progress.
•
Over-allotment transactions involve sales of common shares in
    excess of the number of shares the underwriter is obligated to
    purchase. This creates a syndicate short position which may be
    either a covered short position or a naked short position. In a
    covered short position, the number of shares of common shares
    over allotted by the underwriter is not greater than the number
    of shares that it may purchase in the option to purchase
    additional shares. In a naked short position, the number of
    shares involved is greater than the number of shares in the
    option to purchase additional shares. The underwriter may close
    out any short position by exercising its option to purchase
    additional shares
and/or
purchasing shares in the open market.
•
Syndicate covering transactions involve purchases of our common
    shares in the open market after the distribution has been
    completed in order to cover syndicate short positions. In
    determining the source of shares to close out the short
    position, the underwriter will consider, among other things, the
    price of shares available for purchase in the open market as
    compared with the price at which it may purchase shares through
    exercise of the option to purchase additional shares. If the
    underwriter sells more shares than could be covered by exercise
    of the option to purchase additional shares and, therefore, has
    a naked short position, the position can be closed out only by
    buying shares in the open market. A naked
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short position is more likely to be created if the underwriter
    is concerned that after pricing there could be downward pressure
    on the price of the shares in the open market that could
    adversely affect investors who purchase in the offering.
•
Penalty bids permit the underwriter to reclaim a selling
    concession from a syndicate member when the common shares
    originally sold by that syndicate member are purchased in
    stabilizing or syndicate covering transactions to cover
    syndicate short positions.
These stabilizing transactions, syndicate covering transactions
    and penalty bids may have the effect of raising or maintaining
    the market price of our common shares or preventing or retarding
    a decline in the market price of our common shares. As a result,
    the price of our common shares in the open market may be higher
    than it would otherwise be in the absence of these transactions.
    Neither we nor the underwriter makes any representation or
    prediction as to the effect that the transactions described
    above may have on the price of our common shares. These
    transactions may be effected on the Nasdaq, in the
over-the-counter
market or otherwise and if commenced, may be discontinued by the
    underwriter at any time.
Relationship
    with the Underwriter.
Sandler O'Neill & Partners, L.P., including some
    of their affiliates, have performed and expect to continue to
    perform financial advisory and investment banking services for
    us in the ordinary course of its businesses, and may have
    received, and may continue to receive, compensation for those
    services.
Our common shares are being offered by the underwriter, subject
    to prior sale, when, as and if issued to and accepted by it,
    subject to approval of certain legal matters by counsel for the
    underwriter and other conditions.
EXPERTS
Our consolidated balance sheets as of December 31, 2009 and
    December 31, 2008 and the related consolidated statements
    of income and comprehensive income, stockholders' equity
    and cash flows for each of the years in the three year period
    ended December 31, 2009 appearing in our Annual Report on
Form 10-K
for the year ended December 31, 2009 have been incorporated
    by reference herein in reliance upon the report of Crowe Horwath
    LLP, independent registered public accounting firm, incorporated
    by reference herein, and upon the authority of said firm as
    experts in accounting and auditing.
LEGAL
    MATTERS
The validity of the issuance of the securities to be offered by
    this prospectus will be passed upon for us by Vorys, Sater,
    Seymour and Pease LLP, Akron, Ohio. Certain legal matters
    relating to the sale of the securities to be offered by this
    prospectus will be passed upon for the underwriter by Calfee,
    Halter & Griswold LLP, Cleveland, Ohio.
WHERE YOU
    CAN FIND MORE INFORMATION
We are subject to the information requirements of the Securities
    Exchange Act of 1934, as amended (the "Exchange Act"),
    which means that we are required to file annual, quarterly and
    current reports, proxy statements and other information with the
    SEC, all of which are available at the Public Reference Room of
    the SEC at 100 F Street, NE, Washington, D.C.
    20549. You may also obtain copies of the reports, proxy
    statements and other information from the Public Reference Room
    of the SEC, at prescribed rates, by calling
1-800-SEC-0330.
The SEC maintains an Internet website at
http://www.sec.gov
where you can access reports, proxy, information and
    registration statements, and other information regarding us that
    we file electronically with the SEC. In addition, we make
    available, without charge, through our website,
www.farmersbankgroup.com
, electronic copies of our
    filings with the SEC, including copies of Annual Reports on
Form 10-K,
Quarterly Reports on
Form 10-Q,
Current Reports on
Form 8-K,
and amendments to these
26
Table of Contents
filings, if any. Information on our website should not be
    considered a part of this prospectus, and we do not intend to
    incorporate into this prospectus any information contained in
    our website.
The SEC allows us to "incorporate by reference" the
    information we file with it, which means that we can disclose
    important information to you by referring you to those documents
    filed separately with the SEC. The information we incorporate by
    reference is an important part of this prospectus. We
    incorporate by reference the documents listed below, except to
    the extent that any information contained in those documents is
    deemed "furnished" in accordance with SEC rules. The
    documents we incorporate by reference, all of which we have
    previously filed with the SEC, include:
•
Our Annual Report on
Form 10-K
for the year ended December 31, 2009;
•
Our Quarterly Report on
Form 10-Q
for the quarter ended March 31, 2010;
•
Our Current Reports on
Form 8-K
filed on April 16, 2010, April 28, 2010 and
    May 27, 2010;
•
The definitive proxy statement for our 2010 Annual Meeting of
    Shareholders;
•
The definitive proxy statement for our Special Meeting of
    Shareholders to be held on June 17, 2010;
•
The description of our common shares contained in our
    Registration Statement on Form 8, or contained in any
    subsequent amendment or report filed for the purpose of updating
    such description; and
•
All other reports filed with the SEC under Section 13(a) or
    15(d) of the Exchange Act or proxy or information statements
    filed under Section 14 of the Exchange Act since
    December 31, 2009 and before the date of this Registration
    Statement.
Any statement contained in a document that is incorporated by
    reference will be modified or superseded for all purposes to the
    extent that a statement contained in this prospectus modifies or
    is contrary to that previous statement. Any statement so
    modified or superseded will not be deemed a part of this
    prospectus except as so modified or superseded.
You may request a copy of any of these filings at no cost, by
    writing or telephoning us at the following address or telephone
    number:
Farmers
    National Banc Corp.
20 South Broad Street
Canfield, Ohio 44406
(330) 533-3341
27
Table of Contents
PART II
INFORMATION
    NOT REQUIRED IN PROSPECTUS
Item 13.
Other
    Expenses of Issuance and Distribution.
The following table sets forth all expenses to be paid by the
    registrant, other than estimated underwriting discounts and
    commissions, in connection with this offering. All amounts shown
    are estimates except for the SEC registration fee.
Amount to be Paid
SEC Registration Fee
$
1,070
FINRA Filing Fee
$
[ • ]
Printing and engraving expenses
$
[ • ]
Legal fees and expenses
$
[ • ]
Accounting fees and expenses
$
[ • ]
Miscellaneous
$
[ • ]
TOTAL
$
[ • ]
Item 14.
Indemnification
    of Directors and Officers.
(a)
Ohio
    General Corporation Law
Section 1701.13(E) of the Ohio Revised Code grants
    corporations broad powers to indemnify directors, officers,
    employees and agents. Section 1701.13(E) provides:
(E)(1) A corporation may indemnify or agree to indemnify any
    person who was or is a party, or is threatened to be made a
    party, to any threatened, pending, or completed action, suit, or
    proceeding, whether civil, criminal, administrative, or
    investigative, other than an action by or in the right of the
    corporation, by reason of the fact that he is or was a director,
    officer, employee, or agent of the corporation, or is or was
    serving at the request of the corporation as a director,
    trustee, officer, employee, member, manager, or agent of another
    corporation, domestic or foreign, nonprofit or for profit, a
    limited liability company, or a partnership, joint venture,
    trust, or other enterprise, against expenses, including
    attorney's fees, judgments, fines, and amounts paid in
    settlement actually and reasonably incurred by him in connection
    with such action, suit, or proceeding, if he acted in good faith
    and in a manner he reasonably believed to be in or not opposed
    to the best interests of the corporation, and, with respect to
    any criminal action or proceeding, if he had no reasonable cause
    to believe his conduct was unlawful. The termination of any
    action, suit, or proceeding by judgment, order, settlement, or
    conviction, or upon a plea of nolo contendere or its equivalent,
    shall not, of itself, create a presumption that the person did
    not act in good faith and in a manner he reasonably believed to
    be in or not opposed to the best interests of the corporation,
    and, with respect to any criminal action or proceeding, he had
    reasonable cause to believe that his conduct was unlawful.
(2) A corporation may indemnify or agree to indemnify any
    person who was or is a party, or is threatened to be made a
    party, to any threatened, pending, or completed action or suit
    by or in the right of the corporation to procure a judgment in
    its favor, by reason of the fact that he is or was a director,
    officer, employee, or agent of the corporation, or is or was
    serving at the request of the corporation as a director,
    trustee, officer, employee, member, manager, or agent of another
    corporation, domestic or foreign, nonprofit or for profit, a
    limited liability company, or a partnership, joint venture,
    trust, or other enterprise, against expenses, including
    attorney's fees, actually and reasonably incurred by him in
    connection with the defense or settlement of such action or
    suit, if he acted in good faith and in a manner
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he reasonably believed to be in or not opposed to the best
    interests of the corporation, except that no indemnification
    shall be made in respect of any of the following:
(a) Any claim, issue, or matter as to which such person is
    adjudged to be liable for negligence or misconduct in the
    performance of his duty to the corporation unless, and only to
    the extent that, the court of common pleas or the court in which
    such action or suit was brought determines, upon application,
    that, despite the adjudication of liability, but in view of all
    the circumstances of the case, such person is fairly and
    reasonably entitled to indemnity for such expenses as the court
    of common pleas or such other court shall deem proper;
(b) Any action or suit in which the only liability asserted
    against a director is pursuant to section 1701.95 of the
    Revised Code.
(3) To the extent that a director, trustee, officer,
    employee, member, manager, or agent has been successful on the
    merits or otherwise in defense of any action, suit, or
    proceeding referred to in division (E)(1) or (2) of this
    section, or in defense of any claim, issue, or matter therein,
    he shall be indemnified against expenses, including
    attorney's fees, actually and reasonably incurred by him in
    connection with the action, suit, or proceeding.
(4) Any indemnification under division (E)(1) or
    (2) of this section, unless ordered by a court, shall be
    made by the corporation only as authorized in the specific case,
    upon a determination that indemnification of the director,
    trustee, officer, employee, member, manager, or agent is proper
    in the circumstances because he has met the applicable standard
    of conduct set forth in division (E)(1) or (2) of this
    section. Such determination shall be made as follows:
(a) By a majority vote of a quorum consisting of directors
    of the indemnifying corporation who were not and are not parties
    to or threatened with the action, suit, or proceeding referred
    to in division (E)(1) or (2) of this section;
(b) If the quorum described in division (E)(4)(a) of this
    section is not obtainable or if a majority vote of a quorum of
    disinterested directors so directs, in a written opinion by
    independent legal counsel other than an attorney, or a firm
    having associated with it an attorney, who has been retained by
    or who has performed services for the corporation or any person
    to be indemnified within the past five years;
(c) By the shareholders;
(d) By the court of common pleas or the court in which the
    action, suit, or proceeding referred to in division (E)(1) or
    (2) of this section was brought.
Any determination made by the disinterested directors under
    division (E)(4)(a) or by independent legal counsel under
    division (E)(4)(b) of this section shall be promptly
    communicated to the person who threatened or brought the action
    or suit by or in the right of the corporation under division
    (E)(2) of this section, and within ten days after receipt of
    such notification, such person shall have the right to petition
    the court of common pleas or the court in which such action or
    suit was brought to review the reasonableness of such
    determination.
(5)(a) Unless at the time of a director's act or omission
    that is the subject of an action, suit, or proceeding referred
    to in division (E)(1) or (2) of this section, the articles
    or the regulations of a corporation state, by specific reference
    to this division, that the provisions of this division do not
    apply to the corporation and unless the only liability asserted
    against a director in an action, suit, or proceeding referred to
    in division (E)(1) or (2) of this section is pursuant to
    section 1701.95 of the Revised Code, expenses, including
    attorney's fees, incurred by a director in defending the
    action, suit or proceeding shall be paid by the corporation as
    they are incurred, in advance of the final disposition of the
    action, suit, or
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proceeding upon receipt of an undertaking by or on behalf of the
    director in which he agrees to do both of the following:
(i) Repay such amount if it is proved by clear and
    convincing evidence in a court of competent jurisdiction that
    his action or failure to act involved an act or omission
    undertaken with deliberate intent to cause injury to the
    corporation or undertaken with reckless disregard for the best
    interests of the corporation;
(ii) Reasonably cooperate with the corporation concerning
    the action, suit, or proceeding.
(b) Expenses, including attorney's fees, incurred by a
    director, trustee, officer, employee, member, manager, or agent
    in defending any action, suit, or proceeding referred to in
    division (E)(1) or (2) of this section, may be paid by the
    corporation as they are incurred, in advance of the final
    disposition of the action, suit, or proceeding, as authorized by
    the directors in the specific case, upon receipt of an
    undertaking by or on behalf of the director, trustee, officer,
    employee, member, manager, or agent to repay such amount, if it
    ultimately is determined that he is not entitled to be
    indemnified by the corporation.
(6) The indemnification authorized by this section shall
    not be exclusive of, and shall be in addition to, any other
    rights granted to those seeking indemnification under the
    articles, the regulations, any agreement, a vote of shareholders
    or disinterested directors, or otherwise, both as to action in
    their official capacities and as to action in another capacity
    while holding their offices or positions, and shall continue as
    to a person who has ceased to be a director, trustee, officer,
    employee, member, manager, or agent and shall inure to the
    benefit of the heirs, executors, and administrators of such a
    person.
(7) A corporation may purchase and maintain insurance or
    furnish similar protection, including, but not limited to, trust
    funds, letters of credit, or self-insurance, on behalf of or for
    any person who is or was a director, officer, employee, or agent
    of the corporation, or is or was serving at the request of the
    corporation as a director, trustee, officer, employee, member,
    manager, or agent of another corporation, domestic or foreign,
    nonprofit or for profit, a limited liability company, or a
    partnership, joint venture, trust, or other enterprise, against
    any liability asserted against him and incurred by him in any
    such capacity, or arising out of his status as such, whether or
    not the corporation would have the power to indemnify him
    against such liability under this section. Insurance may be
    purchased from, or maintained with, a person in which the
    corporation has a financial interest.
(8) The authority of a corporation to indemnify persons
    pursuant to division (E)(1) or (2) of this section does not
    limit the payment of expenses as they are incurred,
    indemnification, insurance, or other protection that may be
    provided pursuant to divisions (E)(5),(6), and (7) of this
    section. Divisions (E)(1) and (2) of this section do not
    create any obligation to repay or return payments made by the
    corporation pursuant to divisions (E)(5),(6) or (7).
(9) As used in division (E) of this section,
    "corporation" includes all constituent entities in a
    consolidation or merger and the new or surviving corporation, so
    that any person who is or was a director, officer, employee,
    trustee, member, manager, or agent of such a constituent entity,
    or is or was serving at the request of such constituent entity
    as a director, trustee, officer, employee, member, manager, or
    agent of another corporation, domestic or foreign, nonprofit or
    for profit, a limited liability company, or a partnership, joint
    venture, trust, or other enterprise, shall stand in the same
    position under this section with respect to the new or surviving
    corporation as he would if he had served the new or surviving
    corporation in the same capacity.
(b)
Articles
    of Incorporation, as amended, of Farmers National Banc
    Corp.
Article X of the Articles of Incorporation, as amended,
    governs the indemnification of our officers and directors.
    Article X.B provides:
The corporation shall have power to, and may (in addition to
    such other power conferred by law) indemnify any shareholder,
    officer, or director of the corporation who was or is a party or
    is threatened to
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be made a party to any threatened, pending or completed action,
    suit or proceeding, whether civil, administrative, or
    investigative, by reason of the fact that he is or was a
    director of this corporation, or any corporation (hereinafter
    referred to as "subsidiary corporation") of which more
    than 50 per cent of the issued and outstanding shares of
    common shares was or is owned by the corporation at the time
    such person was or is serving as such director of the
    "subsidiary corporation," against expenses (including
    those reasonably incurred by him) in connection with such
    action, suit, and proceeding if the principal issue of such
    action, suit, or proceeding involved or involves a contract or
    transaction by and between the corporation and such
    "subsidiary corporation" and if he acted in good faith
    and in a manner he reasonably believed to be in or not opposed
    to the best interests of the "subsidiary corporation."
    Any indemnification as above provided (unless ordered by a
    court) shall be made by the corporation only as authorized in
    the specific case upon a determination that indemnification is
    proper in the circumstances because the standard of conduct set
    forth above has been met. Such determination shall be made
    (a) by the Board of Directors by a majority vote of a
    quorum consisting of directors who were not parties to such
    action, suit or proceeding; (b) if such a quorum is not
    obtainable, or even if obtainable, if a majority vote of a
    quorum of disinterested directors so directs, by independent
    legal counsel in a written opinion; or (c) by a majority of
    a quorum of the shareholders of the corporation consisting of
    shareholders who were not parties to such action, suit or
    proceeding.
Item 15.
Recent
    Sales of Unregistered Securities
Not Applicable.
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Table of Contents
Item 16.
Exhibits
    and Financial Statement Schedules
1
.1
Form of Underwriting Agreement*
3
.1
Articles of Incorporation of Farmers National Banc Corp., as
    amended (incorporated by reference from Exhibit 4.1 to Farmers
    National Banc Corp.'s Registration Statement on Form S-3
    filed with the SEC on October 3, 2001 (File No. 333-70806).
3
.2
Amended Code of Regulations of Farmers National Banc Corp.
    (incorporate by reference from Exhibit 3(ii) to Farmers National
    Banc Corp.'s Annual Report on Form 10-K for the fiscal year
    ended December 31, 2009, filed with the SEC on March 16, 2010).
5
.1
Opinion of Vorys, Sater, Seymour and Pease LLP as to the
    legality of the securities being registered.*
10
.1
Executive Incentive Plan, dated August 11, 2009 (incorporated by
    reference from Exhibit 10.2 to Farmers National Banc
    Corp.'s Current Report on Form 8-K filed with the SEC on
    August 17, 2009).
10
.2
Letter Agreement, dated July 22, 2008, between Farmers National
    Bank of Canfield and John S. Gulas (incorporated by reference
    from Exhibit 10.3 to Farmers National Banc Corp.'s Current
    Report on Form 8-K filed with the SEC on July 22, 2008).
10
.3
Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Kevin J. Helmick (incorporated by
    reference from Exhibit 10.4 to Farmers National Banc
    Corp.'s Current Report on Form 8-K filed with the SEC on
    December 23, 2008).
10
.4
Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Mark L. Graham (incorporated by
    reference from Exhibit 10.5 to Farmers National Banc
    Corp.'s Current Report on Form 8-K filed with the SEC on
    December 23, 2008).
10
.5
Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Frank L. Paden (incorporated by
    reference from Exhibit 10.6 to Farmers National Banc
    Corp.'s Current Report on Form 8-K filed with the SEC on
    December 23, 2008).
10
.6
Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Carl D. Culp (incorporated by
    reference from Exhibit 10.7 to Farmers National Banc
    Corp.'s Current Report on Form 8-K filed with the SEC on
    December 23, 2008).
10
.7
Farmers National Banc Corp. 1999 Stock Option Plan (incorporated
    by reference from Exhibit 1 to Farmers National Banc Corp's
    definitive proxy statement, filed with the SEC on February 24,
    1999).
21
Subsidiaries of Farmers National Banc Corp. (filed herewith).
23
.1
Consent of Crowe Horwath LLP, independent registered public
    accounting firm (filed herewith).
23
.2
Consent of Vorys, Sater, Seymour and Pease LLP (included as part
    of its opinion filed as Exhibit 5.1)*
24
Power of Attorney (filed herewith).
*
To be filed by an amendment to this registration statement.
Item 17.
Undertakings
The undersigned registrant hereby undertakes:
(1) Insofar as indemnification for liabilities arising
    under the Securities Act of 1933 may be permitted to
    directors, officers and controlling persons of the registrant
    under the foregoing provisions, or otherwise, the registrant has
    been advised that in the opinion of the Securities and Exchange
    Commission such indemnification is against public policy as
    expressed in the Act, and is, therefore, unenforceable. In the
    event that a claim for indemnification against such liabilities
    (other than the payment by the registrant of expenses incurred
    or paid by a director, officer or controlling person of the
    registrant in the successful defense of any action, suit or
    proceeding) is asserted by such director, officer or controlling
    person in connection with the securities being registered, the
    registrant will, unless in the opinion of its counsel the matter
    has been settled by controlling precedent, submit to a court of
    appropriate jurisdiction the question whether such
    indemnification by it is against public policy as expressed in
    the Act and will be governed by the final adjudication of such
    issue.
(2) For purposes of determining any liability under the
    Securities Act of 1933, the information omitted from the form of
    prospectus filed as part of this registration statement in
    reliance upon Rule 430A
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and contained in a form of prospectus filed by the registrant
    under Rule 424(b)(1), or (4), or 497(h) under the
    Securities Act shall be deemed to be part of this registration
    statement as of the time it was declared effective.
(3) For the purpose of determining any liability under the
    Securities Act of 1933, each post-effective amendment that
    contains a form of prospectus shall be deemed to be a new
    registration statement relating to the securities offered
    therein, and the offering of such securities at that time shall
    be deemed to be the initial bona fide offering thereof.
II-6
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the
    registrant has duly caused this registration statement to be
    signed on its behalf by the undersigned, thereunto duly
    authorized, in the City of Canfield, State of Ohio, on the
    25th day of May, 2010.
FARMERS NATIONAL BANC CORP.
By:
/s/  Frank
    L. Paden
Frank L. Paden, President and Secretary of
Farmers National Banc Corp.
(Principal Executive Officer)
Pursuant to the requirements of the Securities Act of 1933, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated.
Signature
Capacity
Date
/s/  Frank
    L. Paden
Frank
    L. Paden
President, Secretary and Director
(Principal Executive Officer)
May 28, 2010
/s/  Carl
    D. Culp
Carl
    D. Culp
Executive Vice President and Treasurer (Principal Financial
    Officer and Principal Accounting Officer)
May 28, 2010
/s/  Benjamin
    R. Brown*
Benjamin
    R. Brown
Director
May 28, 2010
/s/  Anne
    Fredrick Crawford*
Anne
    Fredrick Crawford
Director
May 28, 2010
/s/  James
    R. Fisher*
James
    R. Fisher
Director
May 28, 2010
/s/  Joseph
    D. Lane*
Joseph
    D. Lane
Director
May 28, 2010
/s/  Ralph
    D. Macali*
Ralph
    D. Macali
Director
May 28, 2010
/s/  Earl
    R. Scott*
Earl
    R. Scott
Director
May 28, 2010
/s/  Ronald
    V. Wertz*
Ronald
    V. Wertz
Director
May 28, 2010
*  By:
Frank L.
    Paden
Attorney-in-Fact
*
Powers of attorney authorizing Frank L. Paden to sign this
    registration statement on Form S-1 on behalf of the
    directors of Farmers National Banc Corp. are being file with the
    Securities and Exchange Commission herewith.
II-7
Table of Contents
INDEX TO
    EXHIBITS
1
.1
Form of Underwriting Agreement*
3
.1
Articles of Incorporation of Farmers National Banc Corp., as
    amended (incorporated by reference from Exhibit 4.1 to
    Farmers National Banc Corp.'s Registration Statement on
Form S-3
filed with the SEC on October 3, 2001 (File
No. 333-70806).
3
.2
Amended Code of Regulations of Farmers National Banc Corp.
    (incorporate by reference from Exhibit 3(ii) to Farmers
    National Banc Corp.'s Annual Report on
Form 10-K
for the fiscal year ended December 31, 2009, filed with the
    SEC on March 16, 2010).
5
.1
Opinion of Vorys, Sater, Seymour and Pease LLP as to the
    legality of the securities being registered.*
10
.1
Executive Incentive Plan, dated August 11, 2009
    (incorporated by reference from Exhibit 10.2 to Farmers
    National Banc Corp.'s Current Report on
Form 8-K
filed with the SEC on August 17, 2009).
10
.2
Letter Agreement, dated July 22, 2008, between Farmers
    National Bank of Canfield and John S. Gulas (incorporated by
    reference from Exhibit 10.3 to Farmers National Banc
    Corp.'s Current Report on
Form 8-K
filed with the SEC on July 22, 2008).
10
.3
Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Kevin J. Helmick (incorporated by
    reference from Exhibit 10.4 to Farmers National Banc
    Corp.'s Current Report on
Form 8-K
filed with the SEC on December 23, 2008).
10
.4
Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Mark L. Graham (incorporated by
    reference from Exhibit 10.5 to Farmers National Banc
    Corp.'s Current Report on
Form 8-K
filed with the SEC on December 23, 2008).
10
.5
Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Frank L. Paden (incorporated by
    reference from Exhibit 10.6 to Farmers National Banc
    Corp.'s Current Report on
Form 8-K
filed with the SEC on December 23, 2008).
10
.6
Letter Agreement, dated December 23, 2008, between Farmers
    National Bank of Canfield and Carl D. Culp (incorporated by
    reference from Exhibit 10.7 to Farmers National Banc
    Corp.'s Current Report on
Form 8-K
filed with the SEC on December 23, 2008).
10
.7
Farmers National Banc Corp. 1999 Stock Option Plan (incorporated
    by reference from Exhibit 1 to Farmers National Banc
    Corp's definitive proxy statement, filed with the SEC on
    February 24, 1999).
21
Subsidiaries of Farmers National Banc Corp. (filed herewith).
23
.1
Consent of Crowe Horwath LLP, independent registered public
    accounting firm (filed herewith).
23
.2
Consent of Vorys, Sater, Seymour and Pease LLP (included as part
    of its opinion filed as Exhibit 5.1)*
24
Power of Attorney (filed herewith).
*
To be filed by an amendment to this registration statement.