Item 2.01 Completion of Acquisition or Disposition of Assets.

On January 1, 2023, Farmers National Banc Corp. (the "Company") completed its previously announced merger with Emclaire Financial Corp., a Pennsylvania corporation and registered financial holding company ("Emclaire"), pursuant to the Agreement and Plan of Merger dated as of March 23, 2022, by and among the Company, FMNB Merger Subsidiary V, LLC, a wholly owned subsidiary of Farmers ("Merger Sub"), and Emclaire (the "Merger Agreement"). Pursuant to the terms of the Merger Agreement, at the effective time of the Merger (the "Effective Time") Emclaire merged with and into Merger Sub (the "Merger"), with Merger Sub as the surviving entity in the Merger. Promptly following the consummation of the Merger, Merger Sub was dissolved and liquidated and The Farmers National Bank of Emlenton, the banking subsidiary of Emclaire, merged with and into The Farmers National Bank of Canfield, the national banking subsidiary of the Company ("Farmers Bank"), with Farmers Bank as the surviving bank.

Pursuant to the terms of the Merger Agreement, at the Effective Time of the Merger, each common share, without par value, of Emclaire ("Emclaire Common Shares") issued and outstanding immediately prior to the Effective Time (except for certain Emclaire Common Shares held directly by Emclaire or the Company) was converted into the right to receive, without interest, $40.00 in cash (the "Cash Consideration") or 2.15 common shares, without par value, of the Company ("Company Common Shares") (the "Stock Consideration"), subject to an overall limitation of 70% of the Emclaire Common Shares being exchanged for the Stock Consideration and the remaining 30% of Emclaire Common Shares being exchanged for the Cash Consideration. No fractional Company Common Shares were issued in the Merger, and Emclaire's shareholders became entitled to receive cash in lieu of fractional Company Common Shares.

The foregoing description of the Merger and the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement and Plan of Merger and the Amendment to Agreement and Plan of Merger, a copy of which is filed as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers.

(d) Effective immediately following the Effective Time of the Merger on January 1, 2023 and in accordance with the terms of the Merger Agreement, the board of directors of the Company (the "Board"), appointed former Emclaire board member Nicholas D. Varischetti to the Board to hold office as a Class II director until the Company's 2024 annual meeting of shareholders and until his successor is duly elected and qualified, or until his earlier death, resignation or removal.

As a non-employee director, Mr. Varischetti will be eligible to receive compensation in the same manner as the Company's other non-employee directors, including an annual general annual retainer fee, consistent with the description in the Company's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission ("SEC") on March 17, 2022. The Company will enter into an indemnification agreement with Mr. Varischetti in a manner consistent with the agreements entered into with the Company's existing directors, the form of which was filed as an exhibit to the Company's Current Report on Form 8-K filed with the SEC on April 29, 2011. Mr. Varischetti has been appointed to the Compensation and Corporate Governance and Nominating Committees of the Board.

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Item 7.01 Regulation FD Disclosure.

On January 3, 2023 the Company issued a press release, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K, announcing that the Board had appointed Nicholas D. Varischetti to the Board effective January 1, 2023, as described in Item 5.02(d) of this Current Report on Form 8-K.

Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in this Item 7.01 and Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section. Furthermore, the information in this Item 7.01 and Exhibit 99.1 shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act, except as may be expressly set forth by specific reference in such filing.

Item 8.01 Other Events.

On January 3, 2023, the Company issued a press release announcing the completion of the Merger. The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired.

The financial statements required by this Item 9.01(a) will be filed by an amendment to this Current Report on Form 8-K not later than 71 calendar days after the date on which this Current Report on Form 8-K is required to be filed.

(b) Pro Forma Financial Information.

The pro forma financial information required by this Item 9.01(b) will be filed by an amendment to this Current Report on Form 8-K not later than 71 calendar days after the date on which this Current Report on Form 8-K is required to be filed.



(d)  Exhibits.

Exhibit
Number                                    Description

 2.1           Agreement and Plan of Merger by and among Farmers National Banc
             Corp., Emclaire Financial Corp., and FMNB Merger Subsidiary V, LLC,
             dated as of March 23, 2022 (incorporated by reference from Exhibit 2.1
             to the Company's Current Report on Form 8-K filed with the Commission
             on March 24, 2022)*

99.1           Press Release dated January 3, 2023

104          Cover Page Interactive Data File (embedded within the Inline XBRL
             document)

* Pursuant to Item 601(a)(5) of Regulation S-K, schedules and exhibits have been

omitted from this filing. The registrant agrees to furnish the Securities and

Exchange Commission on a supplemental basis a copy of any omitted schedule or

exhibit on a confidential basis upon request.

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