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Overview
FNCB Bancorp Inc. (FNCB) is a storied community bank with over 114 years of local presence, offering a comprehensive range of financial solutions. As a key player in community banking, FNCB serves personal, small business, and commercial clients with innovative digital banking, mobile access, and a full suite of in-branch services. The bank has built its reputation on being locally rooted and dedicated to delivering a superior banking experience, characterized by personalized service and deep community engagement.
Business Model and Core Services
FNCB operates as a bank holding company, with FNCB Bank providing a wide array of financial products and services designed to meet the diverse needs of its clients. The bank generates revenue primarily through traditional banking activities including deposit taking, lending, and fee-based services. Its offerings are segmented into several core areas:
- Personal Banking: Offering everyday banking solutions such as checking and savings accounts, personal loans, and digital banking options that blend convenience with robust security.
- Small Business Banking: Providing tailored financial products for entrepreneurial ventures and small companies, including business loans, treasury management, and specialized advisory services.
- Commercial Banking: Catering to larger business clients through services that support commercial lending, investment portfolios, and cash management solutions.
Digital Innovation and Banking Services
Capitalizing on evolving technology trends, FNCB has integrated industry-leading mobile and online platforms to enhance customer convenience and efficiency. Its digital services are designed by blending traditional banking practices with modern, innovative digital processes, ensuring that clients receive a seamless and secure banking experience. The bank leverages technology to increase accessibility, reduce wait times at branches, and provide real-time financial management tools.
Community Focus and Local Impact
At the heart of FNCB’s operations lies a deep commitment to the communities it serves. With a network of community offices strategically located in Lackawanna, Luzerne, and Wayne Counties, the bank maintains a strong local presence. It invests in the areas where its customers live and work, supporting neighborhood initiatives and providing financial guidance that is closely attuned to local economic conditions. This community-centric approach solidifies its reputation as "simply a better bank™" by fostering trust, direct customer engagement, and tailored financial solutions that reflect local needs.
Competitive Landscape and Strategic Positioning
Within the competitive sphere of community banking, FNCB sets itself apart through its consistent blend of traditional banking values and modern digital service innovations. Facing competitors that range from large regional banks to specialized local institutions, FNCB emphasizes personal attention, responsive service, and a deep understanding of local market dynamics. The bank’s heritage, combined with its ongoing investment in technology and service improvements, positions it as a dependable financial institution that resonates well with both long-term community members and newer, tech-savvy clients.
Merger Integration and Corporate Evolution
FNCB’s strategic integration with Peoples Financial Services Corp. is a significant element in its recent corporate evolution. Approved by shareholders, the merger is structured to combine the strengths of two community-focused banks while maintaining the core values and service excellence FNCB has been known for. The integration process, subject to regulatory reviews and customary closing conditions, underscores a broader trend in the banking industry toward consolidating resources to enhance service delivery, expand geographic reach, and better serve an increasingly dynamic market. The merger also reflects a careful balance between embracing change and preserving the established community relationships that have defined FNCB over its long operational history.
Risk Management and Operational Resilience
In today’s dynamic financial environment, FNCB prioritizes robust risk management practices and operational resilience. The bank employs a comprehensive framework designed to mitigate risks related to credit exposure, technology, market fluctuations, and regulatory compliance. Through diligent oversight and a proactive approach to financial management, FNCB ensures that it can sustain high standards of service while managing the inherent risks of banking operations. This thorough risk management approach is integral to maintaining customer confidence and long-term stability.
Conclusion
FNCB Bancorp Inc. embodies a blend of rich heritage, innovative service delivery, and deep community ties. Its expansive suite of personal, small business, and commercial banking solutions, along with state-of-the-art digital platforms, set it apart in the competitive landscape of community banking. With a focus on local impact and prudent risk management, FNCB continues to serve as a trusted financial partner to its communities, ensuring that every client experiences the benefit of a banking institution that is both historically grounded and forward-thinking in its service approach.
FNCB Bancorp, Inc. (NASDAQ: FNCB) has launched 1st Equipment Finance, a new equipment financing solution based in Exeter, Pennsylvania. This initiative aims to provide leasing alternatives and financing solutions to business customers, vendors, and municipalities, and is led by Executive VP Gary P. Cook. The company emphasizes its 150 years of combined experience in equipment financing, aiming to expand its portfolio and strengthen its position in the competitive banking sector. This initiative is part of FNCB's strategy to grow market share and support its commercial clients.
On January 26, 2022, FNCB Bancorp, Inc. (NASDAQ:FNCB) announced a quarterly dividend of $0.075 per share, a 25% increase from last year’s $0.06. The dividend will be paid on March 15, 2022, to shareholders on record as of March 1, 2022. This reflects the company’s commitment to returning value to shareholders while maintaining its operations as a premier community bank in Northeastern Pennsylvania.
FNCB Bancorp reported a net income of $6.4 million, or $0.31 per share, for Q3 2021, marking a 54.6% increase from Q3 2020. The rise was driven by a $2.9 million boost in net interest income and a $0.5 million release of loan loss reserves, despite a $1.1 million decrease in non-interest income. Year-to-date, net income reached $17.4 million, up 70.9% from the previous year. Total assets increased 13.7% to $1.666 billion, and total deposits rose 15.1% to $1.482 billion. The bank's performance reflects improved asset quality and strategic growth in lending products.
On October 27, 2021, FNCB Bancorp, Inc. (NASDAQ:FNCB) announced a quarterly dividend of $0.075 per share for Q4 2021, marking a 36.4% increase from $0.055 in Q4 2020. The total year-to-date dividends for 2021 reached $0.27 per share, up 22.7% from $0.22 in 2020. The dividend is set to be paid on December 15, 2021, to shareholders on record as of December 1, 2021.
FNCB Bancorp reported a net income of $5.2 million for Q2 2021, marking a 30% increase from $4.0 million in Q2 2020. This growth was driven by a $2.4 million rise in net interest income, although non-interest income fell by $0.8 million. For H1 2021, net income reached $11.1 million, up 81.8% year-over-year. Key metrics include a return on average assets of 1.38% and a net interest margin improvement to 3.58%. Total assets grew to $1.525 billion, and the bank's capital ratios remained strong, with total risk-based capital at 15.79% as of June 30, 2021.
FNCB Bancorp, Inc. (NASDAQ:FNCB) declared a $0.075 per share dividend for Q3 2021, marking a 25% increase from the previous quarters. This rise reflects a 36.4% increase compared to Q3 2020. Year-to-date dividends for 2021 now total $0.195 per share, up 18.2% from $0.165 per share in 2020. The dividend is scheduled for payment on September 15, 2021, to shareholders of record as of September 1, 2021.
FNCB Bancorp reported a significant net income increase of $5.8 million, or $0.29 per share for Q1 2021, up 182.7% from $2.1 million in Q1 2020. This growth is attributed to a $2.2 million rise in net interest income, a $1.1 million jump in non-interest income, and an $1.0 million reduction in loan loss provisions. The company’s total assets grew to $1.500 billion, with a notable improvement in asset quality, as non-performing loans decreased to 0.52%. Dividends increased by 9.1% year-over-year, reflecting a continued strong financial performance amidst ongoing pandemic challenges.
On April 28, 2021, FNCB Bancorp declared a quarterly dividend of $0.06 per share, marking a 9.1% increase from $0.055 in Q2 2020. The dividend is payable on June 15, 2021, to shareholders of record as of June 1, 2021. Year-to-date dividends in 2021 total $0.12, compared to $0.11 in 2020. This reflects the bank's commitment to providing returns to shareholders while sustaining its operations in Northeastern Pennsylvania.
FNCB Bancorp, Inc. has appointed James F. Burke as Executive Vice President and Chief Banking Officer. With over 27 years of experience in banking, he previously served at Wayne Bank. Burke will oversee Commercial and Retail Lending, as well as Retail Banking at FNCB Bank. His extensive knowledge of the Northeastern Pennsylvania market is expected to bolster the bank's growth and service delivery. This leadership change reflects FNCB's commitment to enhancing its operations while maintaining a strong community focus.
FNCB Bancorp reported a net income of $15.3 million for 2020, marking a 38.6% increase from $11.1 million in 2019. This growth was driven by a $3.9 million rise in net interest income and a $1.6 million boost in non-interest income, despite a $1.1 million increase in loan provisions. The fourth-quarter net income was $5.2 million, up 47.8% year-over-year. Additionally, dividends were raised to $0.22 per share with a yield of 3.44%. A stock repurchase program for 975,000 shares was authorized to enhance shareholder value.
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