Vorys Represents Farmers National Banc Corp. in Announced Merger with Middlefield Banc Corp.

Vorys represented Farmers National Banc Corp. (Farmers) in its announced merger with Middlefield Banc Corp. (Middlefield).  Subject to the terms of the merger agreement, Middlefield merged with and into Farmers in an all-stock transaction.

Based on Farmers’ closing share price of $13.91 on October 20, 2025, the proposed transaction was valued at approximately $299 million or $36.17 per Middlefield share.  The merger is expected to qualify as a tax-free reorganization.  The transaction closed on March 2, 2026.  This was Farmers’ seventh bank acquisition since 2015.

Middlefield Bank’s branches have become branches of Farmers National Bank, which together have $7.4 billion in assets and 83 branch locations throughout Ohio and western Pennsylvania.  In Ohio, it has expanded Farmers’ footprint across the Central and Western Ohio markets, in particular.

About Vorys: Vorys was established in 1909 and currently has nearly 375 attorneys in 10 offices in Ohio, Washington, D.C., Texas, Pennsylvania, California, London and Berlin.  Vorys currently ranks as one of the 200 largest law firms in the United States according to American Lawyer magazine.   

About Farmers National Banc Corp.: Farmers National Banc Corp. is a diversified financial services company headquartered in Canfield, Ohio, with $5.2 billion in banking assets.  Farmers National Banc Corp.’s wholly owned subsidiaries are comprised of The Farmers National Bank of Canfield, a full-service national bank engaged in commercial and retail banking with 62 banking locations in Mahoning, Trumbull, Columbiana, Portage, Stark, Wayne, Medina, Geauga and Cuyahoga Counties in Ohio and Beaver, Butler, Allegheny, Jefferson, Clarion, Venango, Clearfield, Mercer, Elk and Crawford Counties in Pennsylvania, and Farmers Trust Company, which operates trust offices and offers services in the same geographic markets.