FNCB Recognized Once Again as One of the Top Community Banks in the United States
21 Junio 2023 - 3:05PM
FNCB Bancorp, Inc. (NASDAQ: FNCB), the parent company of FNCB Bank,
today announced its inclusion in American Banker magazine’s annual
list of the Top 200 publicly traded community banks in the United
States for the third consecutive year.
In its June 12, 2023 article, American Banker
ranked FNCB Bancorp, Inc. 81st on the list of 200 top-performing
Publicly Traded Community Banks and Thrifts with less than $2
billion of assets and is based on the three-year return on average
equity (“ROAE”) as of December 31, 2022 (Source: Capital
Performance Group). FNCB also ranked 6th among Pennsylvania banks.
In 2022, FNCB ranked 137th in the U.S. and 14th in
Pennsylvania.
"We are honored to be recognized as a top 200
community bank by American Banker magazine for the third
consecutive year,” said Gerard Champi, FNCB Bank President
& CEO. “This accomplishment is a testament to the unwavering
dedication and commitment of our entire FNCB team. It motivates us
to continue striving for excellence in an effort to deliver
exceptional financial services and contribute to the growth and
prosperity of our community."
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, including statements with
respect to new product offerings, 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: government intervention in the
U.S. financial system including the effects of recent legislative,
tax, accounting and regulatory actions and reforms; 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 allowance for credit losses ("ACL") is not sufficient to
absorb actual losses or if increases to the ACL 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 caused by a
credit-related event 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; 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, 2022 and Quarterly Report
on Form 10-Q for the three months ended March 31, 2023.
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)
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