Company	Price	Valuation					Profitability					Cash & leverage					Quality				Rating
		P/E	P/B	P/S	EV / EBITDA	DCF upside	Gross margin	Operating margin	Net margin	ROE	ROIC	FCF yield	Debt / equity	Net debt / EBITDA	Interest coverage	Current ratio	Dividend yield	Piotroski (0-9)	Altman Z	Rating score (1-5)
FMNBthis companyFarmers National Banc Corp.	$15.66	9.12×	1.03×	1.84×	11.81×	23.7%	63.8%	23.9%	20.1%	11.2%	1.0%	10.4%	0.76×	4.83×	0.71×	0.33×	5.1%	3	0.19	3	B+
ACNBACNB Corporation	$66.43	13.39×	1.18×	2.91×	15.12×	26.4%	73.7%	27.3%	21.7%	8.8%	1.1%	10.6%	0.78×	5.8×	1.16×	0.32×	2.9%	7	0.36	4	A-
AROWArrow Financial Corporation	$39.18	11.8×	1.2×	2.14×	8.52×	-28.6%	65.3%	22.8%	18.1%	10.2%	-7.2%	7.0%	0.07×	0×	0.72×	0.04×	3.6%	5	0.2	3	B-
BWFGBankwell Financial Group, Inc.	$70.67	10.2×	1.18×	1.71×	5.89×	432.8%	51.6%	23.3%	16.9%	11.7%	1.9%	7.6%	0.6×	-0.86×	0.49×	1.89×	1.8%	7	1.5	4	A-
CIVBCivista Bancshares, Inc.	$28.85	8.42×	0.72×	1.53×	9.13×	19.5%	66.4%	21.7%	18.1%	8.5%	5.3%	10.8%	0.52×	3.16×	0.67×	0.11×	3.0%	6	-0.53	4	A-
FMAOFarmers & Merchants Bancorp, Inc.	$36.96	7.25×	0.91×	1.79×	10.89×	-57.2%	62.3%	22.5%	17.6%	9.0%	4.8%	10.2%	0.81×	4.07×	0.61×	0.11×	3.6%	8	-0.45	3	B
Peer median	—	10.2×	1.18×	1.79×	9.13×	19.5%	65.3%	22.8%	18.1%	9.0%	1.9%	10.2%	0.6×	3.16×	0.67×	0.11×	3.0%	7	0.2	4	—