Welcome to our dedicated page for FNCB Bancorp news (Ticker: FNCB), a resource for investors and traders seeking the latest updates and insights on FNCB Bancorp stock.
FNCB Bancorp Inc. (FNCB) is a premier community bank in Northeastern Pennsylvania, operating through its subsidiary, FNCB Bank. With over 100 years of local service, FNCB offers a comprehensive range of personal, small business, and commercial banking solutions. The bank's offerings include traditional deposit products such as checking, savings, and certificates of deposit, alongside advanced services like online, mobile, and telephone banking, debit cards, check imaging, and electronic statements.
FNCB's core business areas encompass Retail Banking, Lending Activities, Wealth Management, and Deposit Activities. The bank is committed to supporting the communities it serves, embodying its motto: Simply a better bank. FNCB continues to innovate with industry-leading mobile and online products, ensuring customers have access to seamless banking experiences.
Recently, FNCB announced a strategic merger agreement with Peoples Financial Services Corp. (PFIS), aimed at creating a dynamic, top-tier Pennsylvania banking franchise. The merger, valued at approximately $129.0 million, is expected to enhance financial strength and market presence, promising increased dividends for shareholders and top-tier operating metrics post-integration.
From a financial perspective, FNCB has navigated a challenging market environment with proactive management strategies. In the second quarter of 2023, the bank reported a decrease in net interest income due to increased interest expenses and market rate changes. However, FNCB's asset quality and liquidity remained robust, with management actively managing interest rate risk and funding costs.
FNCB's dedication to community and customer service is evident in its continued support for local businesses and individuals, providing tailored financial solutions and products to meet diverse needs. The bank's financial health is underscored by a solid capital base and strong regulatory standings, with well-capitalized total risk-based capital and Tier 1 leverage ratios.
Peoples Financial Services Corp. (Nasdaq: PFIS) and FNCB Bancorp, Inc. (Nasdaq: FNCB) have received all required regulatory approvals for their merger. Announced on June 14, 2024, the merger will see FNCB merge into Peoples, which will remain the surviving This follows the Agreement and Plan of Merger dated September 27, 2023. The completion of this merger is expected on July 1, 2024, pending standard closing conditions.
FNCB Bancorp, Inc. reported a net income of $3.5 million for Q1 2024, a 32.6% increase from Q1 2023. The annualized return on average assets and equity also improved. The company declared dividends of $0.09 per share for both Q1 2024 and 2023. FNCB is set to merge with PFIS, pending regulatory approval.
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