Yesterday, Farmers National Banc Corp.’s Board of Directors announced that, effective July 1, 2010, Mr. John S. Gulas will become President and Chief Executive Officer of both the Company and their wholly owned subsidiary, Farmers National Bank of Canfield. Mr. Gulas will succeed Mr. Frank L. Paden who will remain as Executive Chairman of both Boards of Directors. Mr. Paden has served at Farmers National Bank for more than 35 years. Mr. Gulas will also be appointed as an additional member of the Company’s Board of Directors, again effective July 1, 2010.
Mr. Frank L. Paden helped to create this succession plan. “I look forward to remaining actively involved in charting the course for our future by serving as Chairman of the Boards of Farmers National Banc Corp. and Farmers National Bank,” stated Paden. He will concentrate on a broader strategic role as a member of the Farmers team.
Mr. John S. Gulas is credited with engineering an era of managed growth at Farmers for the past two years. The Company has grown to more than $1 billion in assets, and acquired the Farmers Trust Company during this period. In addition, during this time they have grown the wealth management division to include an insurance agency, and have grown the loan portfolio over 10 percent.
Ron Wertz, a board member who will serve as Lead Director of the Company’s Board, said, “The Board supported John as the person to succeed Frank in this key executive leadership role as part of our management succession plan. John has grown to know this Company well and he is committed to its continuing success and viability. We are confident that his forward-thinking leadership style will be a continued asset for both the Company and its shareholders.”
With Farmers National since July 2008, Mr. Gulas has served as Chief Operating Officer of the Company and the Bank. He received his Juris Doctorate from the University of Toledo College of Law. He came to Farmers with more than 25 years of bank management experience. This included leadership roles at Sky Trust, UMB, Wachovia, and Key Bank.
Mr. Gulas stated, “I came back to the Valley because I saw tremendous opportunity for Farmers National Bank. Despite the recent financial crisis, Farmers has continued to serve its customers well. We have experienced strong growth where other banks have struggled to survive. I believe Farmers is well-positioned for the future.”
Farmers National Banc Corp. is the bank holding company for the Farmers National Bank of Canfield, Farmers National Insurance, LLC and Farmers Trust Company. They operate 16 banking offices throughout Mahoning, Trumbull, and Columbiana counties. They also operate two trust offices in Youngstown and Howland.
For more information visit: www.farmersbankgroup.com