FNCB Bancorp, Inc. 20% increase in profits for the first quarter of 2023. | Aici

Company FNCB Bancorp, Inc.

DUNMORE, Pa., Jan. 25, 2023 (GLOBE NEWSWIRE) — On January 25, 2023, the Board of Directors of FNCB Bancorp, Inc. (NASDAQ:FNCB) posted earnings of $0.09 for the first quarter of 2023, up $0.015 per share, or 20.0%, from the $0.075 per share reported in the first quarter of 2022. The 2023 first quarter dividend is payable on March 15, 2023 to shareholders of record as of March 1, 2023.

About FNCB Bancorp, Inc.:

FNCB Bancorp, Inc. is a subsidiary of FNCB Bank. Locally based for more than 113 years, FNCB Bank continues to be the leading community bank in Northeastern Pennsylvania – offering a full range of personal, small business and commercial banking solutions with industry-leading mobile, online and branch products and services. FNCB currently operates 16 community offices in Lackawanna, Luzerne and Wayne Counties and remains committed to improving its customers’ banking experience. For more information about FNCB, visit www.fncb.com.

FNCB may from time to time make written or oral “forward-looking statements”, including statements contained in our filings with the Securities and Exchange Commission (“SEC”), in our reports to shareholders, and in our other communications, which we make. in good faith pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include statements about the beliefs, plans, objectives, goals, expectations, expectations, expectations, estimates and objectives of FNCB, which are subject to significant risks and uncertainties, and may change based on various factors (some of which are emergencies. beyond our control). The words “could,” “likely,” “should,” “will,” “is,” “believe,” “anticipate,” “estimate,” “anticipate,” “goal,” “plan,” “project,” “project,” “project “future” and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause FNCB’s financial performance to differ materially from the plans, objectives, expectations, estimates and targets expressed in those forward-looking statements: the effect of the novel Coronavirus Disease 2019 (“COVID-19”) pandemic. to FNCB and its customers, the Commonwealth of Pennsylvania and the United States, related to the economy, overall financial stability and global supply chain; the COVID-19 pandemic and measures taken to control its spread; government intervention in the US financial system including the effects of interest rate actions taken by the Federal Open Market Committee (“FOMC”); recent legislative, tax, accounting and regulatory measures and reforms, including, but not limited to, the Coronavirus Relief, Assistance, and Economic Security Act (“CARES Act”), the Dodd-Frank Wall Street Reform Act and Consumer Protection (the “Dodd-Frank Act”) and the Tax Cuts and Jobs Act; political instability; FNCB’s ability to manage credit risk; weakness in economic conditions, generally, and within the FNCB market; the default of one or more real estate loans with large balances contained in FNCB’s loan portfolio; greater risk of loan defaults and losses from the consolidation of loans held by FNCB, including those to insiders and related parties; if FNCB’s portfolio of loans to small and medium enterprises increases its credit risk; if FNCB’s ALLL is insufficient to cover actual losses or if an increase in loan allowance and lease losses (“ALLL”) was required; FNCB is subject to interest rate risk and any changes in interest rates could adversely affect the net income or fair value of FNCB’s financial assets; if management determines that a decline in the value of any of FNCB’s investment securities is other-than-temporary it may cause FNCB to record an impairment loss; if FNCB’s risk management framework is not effective in mitigating risk or loss to FNCB; if FNCB cannot compete effectively with others for business; loss of depositor confidence caused by changes in FNCB’s financial condition or the banking industry in general; if FNCB is unable to maintain or increase its core deposit base; the inability or inadequacy of dividends from its subsidiary, FNCB Bank; if FNCB loses access to wholesale funding sources; disruption or breach of security of FNCB’s information systems; any system failure or interruption in the information technology and telecommunications systems of third parties on which FNCB relies; security breach; if FNCB’s technological know-how cannot keep up with the growth or development of the industry or if the technological development results in higher costs or less profitable prices; loss of management and other key personnel; dependence on the use of data and modeling both for the decisions of its managers in general and in meeting regulatory requirements in particular; additional risks arising from new lines of business, products, product enhancements or services offered by FNCB; the accuracy of the valuation and other valuation methods used by FNCB in the assessment and evaluation of loans obtained for real estate and other real estate; discomfort in other financial institutions; damage to FNCB’s reputation; to protect litigation and other actions; reliance on the accuracy and completeness of information about customers and partners; risks arising from expansion or future acquisition activity; environmental risks and associated costs to its created assets; any corrections ordered, or adverse actions taken by government and government regulators, including requiring FNCB to act as a source of financial and administrative strength for FNCB Bank in times of distress; costs from extensive government regulation, oversight and potential regulatory enforcement actions; new or changed laws or regulatory measures; failure to comply with and enforce compliance with the Bank Secrecy Act and other anti-money laundering laws and regulations; failure to comply with many “fair and responsible” banking laws; any breach of laws relating to privacy, information security and protection of personal information or any other incident involving personal, private or confidential information of individuals; any changes in laws implemented by the Consumer Financial Protection Bureau; non-compliance with the Paycheck Protection Act and its rules and regulations; the inability to attract and retain its high-performing employees due to potential benefit compensation restrictions contained in the proposed federal agency restructuring; any future increases in premiums and FDIC depository assessment of FNCB; and FNCB’s success in managing the risks involved in the foregoing and other risks and uncertainties, including those detailed in FNCB’s filings with the SEC.

FNCB cautions that the above list of priorities is not exhaustive. Readers are also cautioned not to place undue reliance on any forward-looking statements, which reflect management’s analysis only as of the date of this report, even if subsequently made available by FNCB on its website or otherwise. FNCB undertakes no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of FNCB to reflect events or circumstances occurring after the date of this press release.

Readers should carefully review the risk factors described in the Annual Report and other documents FNCB files from time to time with the SEC, including its Form 10-K for the year ended December 31, 2021 and its Form 10-Q for each quarter ended March 31 . , 2022, June 30, 2022 and September 30, 2022.

CONTACT: INVESTOR CONTACT: James M. Bone, Jr., CPA Executive Vice President and Chief Financial Officer FNCB Bank (570) 348-6419 james.bone@fncb.com

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