FARMERS NATIONAL BANC CORP (FMNB) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Interest income:
Interest income on loans	107.8	94.8	98.4	89.1	79.8	69.9	63.1	44.7
Interest income on investments	32.7	20.9	13.1	11.5	10.6	9.7	8.7	8.9
	142.1	116.5	112.3	102.0	91.8	80.5	72.5	53.8
Interest expense:
Interest on deposits	13.1	6.8	14.4	16.9	8.1	4.5	3.2	3.5
	14.5	6.8	14.7	19.6	13.3	6.9	4.4	4.1
Net interest income	156.6	123.2	127.1	82.4	78.5	73.6	68.1	49.7
Provision for loan losses	1.1	4.9	9.1	2.2			3.9	3.5
Net interest income after provision for loan losses	155.5	118.3	118.0	80.2	78.5	73.6	64.3	46.2
Deposit and loan fees								3.3
Gain on sale of investments, net								0.1
Other non-interest income	44.2	38.2	36.2	28.0	25.5	24.1	23.2	15.0
Total non-interest income	44.2	38.2	36.2	28.0	25.5	24.1	23.2	18.3
Non-interest expenses	94.4	79.2	73.0	64.9	62.7	61.2	59.5	54.0
Pre-tax income before non-recurring items	72.8	62.1	50.3	43.3	38.1	34.0	28.6	16.9
Non-recurring items				0.2	-0.2	0.9	0.6	6.4
Pre-tax income	72.8	62.1	50.3	43.1	38.3	33.2	28.0	10.6
Income taxes	12.2	10.3	8.4	7.3	5.7	10.5	7.5	2.5
Tax rate	16.8%	16.5%	16.7%	17.0%	14.9%	31.5%	26.7%	23.7%
Net income	60.6	51.8	41.9	35.8	32.6	22.7	20.6	8.1
Net margin	30.4%	33.1%	27.2%	33.0%	31.3%	23.2%	23.5%	12.5%

Basic EPS	$1.79	$1.78	$1.48	$1.29	$1.18	$0.82	$0.76	$0.36
Diluted EPS	$1.79	$1.77	$1.47	$1.28	$1.16	$0.82	$0.76	$0.36

Shares outstanding (basic)	33.8	29.2	28.3	27.7	27.7	27.6	27.2	22.7
Shares outstanding (diluted)	33.9	29.3	28.4	27.9	28.0	27.6	27.2	22.7

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.