The board of Farmers National Banc Corp. recommends that shareholders approve a proposal to increase the number of authorized common shares, without par value, to 50 million from 35 million.
The board said that the additional common shares could be used for corporate purposes such as share distributions and dividends, acquisitions and mergers, and public offerings and other capital raising transactions.
Shareholders of the Canfield, Ohio-based company are set to vote on the proposal during the April 19 annual meeting.
