FNCB Bancorp, Inc. Announces 20% Increase in First Quarter 2023 Dividend
25 Enero 2023 - 3:05PM
On January 25, 2023, the Board of Directors of FNCB Bancorp, Inc.
(NASDAQ:FNCB) declared a dividend of $0.09 per share for the
first quarter of 2023, an increase of $0.015 per share, or 20.0%,
from $0.075 per share declared for the first quarter of
2022. The first quarter 2023 dividend is payable on March 15,
2023 to shareholders of record as of March 1, 2023.
About FNCB Bancorp, Inc.:
FNCB Bancorp, Inc. is the bank holding company of FNCB Bank.
Locally-based for over 113 years, FNCB Bank continues as a premier
community bank in Northeastern Pennsylvania – offering a full suite
of personal, small business and commercial banking solutions with
industry-leading mobile, online and in-branch products and
services. FNCB currently operates through 16 community offices
located in Lackawanna, Luzerne and Wayne Counties and remains
dedicated to making its customers’ banking experience simply
better. 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 are made in
good faith by us pursuant to the “safe harbor” provisions of the
Private Securities Litigation Reform Act of 1995.
These forward-looking statements include statements with respect
to FNCB’s beliefs, plans, objectives, goals, expectations,
anticipations, estimates and intentions, that are subject to
significant risks and uncertainties, and are subject to change
based on various factors (some of which are beyond our control).
The words “may,” “could,” “should,” “will,” “would,” “believe,”
“anticipate,” “estimate,” “expect,” “intend,”
“plan,” “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 intentions expressed in such forward-looking
statements: the effect of the novel Coronavirus Disease
2019 ("COVID-19") pandemic on FNCB and its customers, the
Commonwealth of Pennsylvania and the United States, related to the
economy, overall financial stability and the global supply chain;
the COVID-19 pandemic and measures taken to control its spread;
government intervention in the U.S. financial system including the
effects of interest rate actions taken by the Federal Open Market
Committee ("FOMC"); recent legislative, tax, accounting and
regulatory actions and reforms, including, but not limited
to, the Coronavirus Aid, Relief, and Economic Security Act
(the “CARES Act”), the Dodd-Frank Wall Street Reform and Consumer
Protection Act (the “Dodd-Frank Act”) and the Tax Cuts and
Jobs Act; political instability; the ability of FNCB to manage
credit risk; weakness in the economic environment, in general, and
within FNCB’s market area; the deterioration of one or a few of the
commercial real estate loans with relatively large balances
contained in FNCB’s loan portfolio; greater risk of loan defaults
and losses from concentration of loans held by FNCB, including
those to insiders and related parties; if FNCB’s portfolio of
loans to small and mid-sized community-based businesses increases
its credit risk; if FNCB’s ALLL is not sufficient to absorb actual
losses or if increases to the allowance for loan and lease losses
("ALLL") were required; FNCB is subject to interest-rate risk
and any changes in interest rates could negatively impact net
interest income or the fair value of FNCB's financial assets; if
management concludes that the decline in value of any of FNCB’s
investment securities is other-than-temporary could result in FNCB
recording an impairment loss; if FNCB’s risk management
framework is ineffective in mitigating risks or losses
to FNCB; if FNCB is unable to successfully compete with others
for business; a loss of depositor confidence resulting from changes
in either FNCB’s financial condition or in the general banking
industry; if FNCB is unable to retain or grow its core deposit
base; inability or insufficient dividends from its subsidiary, FNCB
Bank; if FNCB loses access to wholesale funding sources;
interruptions or security breaches of FNCB’s information systems;
any systems failures or interruptions in information technology and
telecommunications systems of third parties on which FNCB depends;
security breaches; if FNCB’s information technology is unable to
keep pace with growth or industry developments or if technological
developments result in higher costs or less advantageous pricing;
the loss of management and other key personnel; dependence on the
use of data and modeling in both its management’s decision-making
generally and in meeting regulatory expectations in particular;
additional risk arising from new lines of business, products,
product enhancements or services offered by FNCB; inaccuracy of
appraisals and other valuation techniques FNCB uses in evaluating
and monitoring loans secured by real property and other real estate
owned; unsoundness of other financial institutions; damage to
FNCB’s reputation; defending litigation and other actions;
dependence on the accuracy and completeness of information about
customers and counterparties; risks arising from future expansion
or acquisition activity; environmental risks and associated costs
on its foreclosed real estate assets; any remediation ordered, or
adverse actions taken, by federal and state regulators, including
requiring FNCB to act as a source of financial and managerial
strength for the FNCB Bank in times of stress; costs arising
from extensive government regulation, supervision and possible
regulatory enforcement actions; new or changed legislation or
regulation and regulatory initiatives; noncompliance and
enforcement action with the Bank Secrecy Act and other anti-money
laundering statutes and regulations; failure to comply with
numerous "fair and responsible banking" laws; any violation of laws
regarding privacy, information security and protection of personal
information or another incident involving personal, confidential or
proprietary information of individuals; any rulemaking changes
implemented by the Consumer Financial Protection Bureau;
non-compliance with the Paycheck Protection Act and its rules and
regulations; inability to attract and retain its highest
performing employees due to potential limitations on incentive
compensation contained in proposed federal agency rulemaking; any
future increases in FNCB Bank’s FDIC deposit insurance premiums and
assessments; and the success of FNCB at 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 foregoing list of important factors is
not all inclusive. 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 does not undertake 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 that FNCB periodically files
with the SEC, including its Form 10-K for the year ended
December 31, 2021 and Form 10-Q for each of the quarters ended
March 31, 2022, June 30, 2022 and September 30,
2022.
INVESTOR CONTACT:
James M. Bone, Jr., CPA
Executive Vice President and
Chief Financial Officer
FNCB Bank
(570) 348-6419
james.bone@fncb.com
FNCB Bancorp (NASDAQ:FNCB)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
FNCB Bancorp (NASDAQ:FNCB)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024