CANFIELD, Ohio — Farmers National Bank Corp. today announced that it has completed the technical conversion with Cortland Bancorp Inc.
Technical conversion gives Cortland customers access to Farmers’ digital banking options, as well as its wealth management division, which includes private banking, trust, retirement, insurance and investment services , according to a press release.
The holding company of The Farmers National Bank of Canfield has completed its merger with Cortland Bancorp., the holding company of The Cortland Savings and Banking Co., in November 2021.
Following the conversion, all Cortland Bank branches are now Farmers National Bank offices.
“On behalf of everyone at Farmers, we are delighted to officially welcome Cortland customers, employees and shareholders to the Farmers National Bank family,” said Kevin J. Helmick, President and Chief Executive Officer of Farmers. “We look forward to bringing our modern and comprehensive financial services to our new customers and growing our local relationships.”
Cortland Bank signage is changing to Farmers National Bank signage.
The merger’s cash and stock transaction added $841.7 million in assets to Farmers’ balance sheet. Currently, Farmers has over $4.1 billion in banking assets and over $3.1 billion in wealth management assets in custody.
The completed integration brings together all 48 banking locations combined under the Farmers name, including locations in Mahoning, Trumbull, Columbiana, Stark, Summit, Portage, Wayne, Medina, Geauga and Cuyahoga counties in Ohio and County of Beaver, Pennsylvania.
The Cortland acquisition is the sixth for Farmers in the past six years.
Upon closing of the transaction, former Cortland CEO James Gasior joined Farmers as Senior Executive Vice President and Chief Business Development Officer. Timothy Carney, former executive vice president and chief operating officer, has joined Farmers as senior executive vice president and chief banking officer.
Farmers also welcomed two Cortland board members, Richard Thompson and Neil Kaback, to its board.
Published by The Business Journal, Youngstown, Ohio.