<PAGE> 1
================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: JANUARY 6, 2000
FARMERS NATIONAL BANC CORP.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
OHIO 34-1371693
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER IDENTIFICATION NUMBER)
INCORPORATION OR ORGANIZATION)
2-80339
(COMMISSION FILE NUMBER)
20 SOUTH BROAD STREET
CANFIELD, OH 44406
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(330)533-3341
(REGISTRANTS TELEPHONE NUMBER, INCLUDING AREA CODE)
Item 5. Other events
On January 6, 2000, Farmers National Banc Corp. (the "Registrant")
announced that its Board of Directors has adopted a stock repurchase program.
Under the stock repurchase program, the Registrant will be authorized to
repurchase shares of its outstanding common stock in the open market or in
privately negotiated transactions at appropriate times to allow it to enhance
the value of its stock for shareholders and to manage its capital. The Board's
action will allow management to make repurchases, without further board
approval, when stock purchases are deemed prudent. The Stock Repurchase Program
contemplates that stock repurchases will be made in accordance with Rule 10b-18
of the regulations issued under the Securities Exchange Act of 1934. A copy of
the Press Release announcing the adoption of the Stock Repurchase Program is
attached hereto as Exhibit 99.
<PAGE> 2
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Farmers National Banc Corp.
---------------------------
(Registrant)
Date: January 6, 2000 /s/Frank L. Paden
--------------------------------
Frank L. Paden, President and Secretary
<PAGE> 1
EXHIBIT 99
- --------------------------------------------------------------------------------
PRESS RELEASE
- --------------------------------------------------------------------------------
FARMERS NATIONAL BANC CORP.
20 S. Broad Street, Canfield, OH 44406
Contact: Frank L. Paden, President & Secretary
Phone: 330-533-3341
FAX: 330-533-0451
FOR IMMEDIATE RELEASE: JANUARY 6, 2000
FARMERS NATIONAL BANC CORP. ANNOUNCES STOCK REPURCHASE PROGRAM
Frank L. Paden, President of Farmers National Banc Corp., Canfield, Ohio
announced that the Company's Board of Directors has adopted a Stock Repurchase
Program. Under this Stock Repurchase Program, the Company is authorized to
repurchase shares of its outstanding common stock in open market transactions at
prevailing market prices or in privately negotiated transactions at times deemed
appropriate. Mr. Paden stated that "the Board's action was based on its
conclusion that the ability to implement a stock repurchase program will help
the company enhance the value of its common stock for its shareholders along
with giving management a tool to strategically manage the corporation's capital
position. In addition, the repurchase of its common stock at the current market
price is beneficial to the company and its continuing shareholders."
The company intends to make all repurchases in compliance with applicable
regulatory guidelines and to administer the plan in accordance the applicable
securities and other laws, including Rule 10b-18 of the Securities Exchange Act
of 1934, as amended.
Farmers National Banc Corp. is the parent company for the Farmers National Bank
of Canfield, a locally owned community bank with eleven offices in Mahoning and
Columbiana counties.
Additional information regarding the corporation and the products and services
offered by Farmers National Bank can be found at the bank's Website located at
www.fnbcanfield.com. Farmers National Banc Corp. stock is traded on the OTC
Bulletin Board under the symbol FMNB.
- --------------------------------------------------------------------------------
