EMLENTON — Emclaire Financial, the parent company of The Farmers National Bank, announced Friday it has withdrawn its add-on public offering of about $20 million in common stock due to unfavorable market conditions.

William C. Marsh, chairman, president and chief executive officer said in a news release, "As a result of the prevailing poor market conditions, the likely pricing for the company's previously announced add-on common stock offering did not meet our criteria."

Marsh added, "Our bank remains 'well-capitalized' for regulatory purposes and while the proposed offering would have provided a larger base for expansion, our growth prospects remain favorable and we continue to be positioned for continued profitability and growth."

The Farmers National Bank has 13 offices in Butler and seven other counties.