DUNMORE, Pa., Jan. 30, 2024 (GLOBE NEWSWIRE) -- FNCB Bancorp, Inc. (NASDAQ: FNCB; www.fncb.com), the parent company of Dunmore-based FNCB Bank (the “Bank” and collectively, “FNCB”) today reported net income of $13.0 million, or $0.66 per diluted shares, for 2023, compared to $20.4 million or $1.03 per diluted share, for 2022. The 36.5% reduction in net income was primarily due to a $6.1 million decrease in net interest income, which largely reflected higher deposit costs and greater utilization of wholesale funds. Also impacting year-to-date net income was a $1.3 million decrease in non-interest income and a $1.4 million increase in non-interest expense. These reductions to earnings were partially offset by a $1.4 million decrease in income tax expense. For the three months ended December 31, 2023, net income was $3.3 million, or $0.17 per diluted share, a decrease of $1.6 million, or 31.8%, compared to $4.9 million, or $0.24 per diluted share for the same three-month period of 2022. Similar to the year-to-date period, reductions in net interest income and non-interest income, coupled with an increase in non-interest expenses, were the primary factors leading to the reduction in fourth quarter 2023 earnings.

Tue, Jan. 30, 2024

NEW ORLEANS, Jan. 26, 2024 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of FNCB Bancorp, Inc. (NasdaqCM: FNCB) to Peoples Financial Services Corp. (NasdaqGS: PFIS). Under the terms of the proposed transaction, shareholders of FNCB will receive 0.1460 shares of Peoples common stock for each share of FNCB that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

Fri, Jan. 26, 2024

DUNMORE, Pa., Jan. 24, 2024 (GLOBE NEWSWIRE) -- On January 24, 2024, the Board of Directors of FNCB Bancorp, Inc. (NASDAQ:FNCB) declared a dividend of $0.09 per share for the first quarter of 2024. The first quarter 2024 dividend is payable on March 15, 2024 to shareholders of record as of March 1, 2024. The first quarter 2024 dividend is unchanged from the dividend of $0.09 per share declared for the first quarter of 2023.

Wed, Jan. 24, 2024

A 5.8% dividend yield, but is likely to trade sideways until the overall macro environment improves for banks. Q3 earnings showed a decline in net income as we wait for a pending merger. Loans and deposits grew, but margins were crushed due to higher rates, leading to compressed margins. Return metrics and asset quality metrics are mixed.

Tue, Nov. 21, 2023

DUNMORE, Pa., Oct. 30, 2023 (GLOBE NEWSWIRE) -- FNCB Bancorp, Inc. (NASDAQ: FNCB; www.fncb.com), the parent company of Dunmore-based FNCB Bank (the “Bank”), (collectively, "FNCB") today reported net income of $4.2 million, or $0.21 per basic and diluted share, for the three months ended September 30, 2023, a decrease of $1.2 million, or 23.4%, compared to $5.4 million, or $0.28 per share for the same period of 2022. Reductions in net interest income and non-interest income, coupled with an increase in non-interest expenses, were the primary factors leading to the reduction in third quarter 2023 earnings. For the nine months ended September 30, 2023, net income totaled $9.6 million, or $0.49 per basic and diluted share, a decrease of $5.9 million, or 38.0%, from $15.5 million, or $0.79 per basic and diluted share, for the same nine months of 2022.

Mon, Oct. 30, 2023