FNCB Bank announces expansion into equipment financing

DUNMORE, Pa., Jan. 27, 2022 (GLOBE NEWSWIRE) — FNCB Bancorp, Inc. (NASDAQ: FNCB), the parent company of FNCB Bank (“the Bank”), announces that the Bank recently launched the first funding program Equipment Finance, a new equipment financing solution offered by the Bank, based in Exeter, Pennsylvania.

1st Equipment Finance provides equipment finance solutions, including leasing alternatives, for commercial customers, suppliers, manufacturers and municipalities and is led by the Executive Vice President, Head of Equipment Sales , Gary P. Cook, an industry veteran of four decades.

“Our seasoned sales and management team has over 150 years of combined experience in equipment financing with vendors, commercial customers and municipalities across the United States,” Cook said. “We look forward to leveraging this experience to expand the Bank’s portfolio locally and across the country.

Today’s announcement builds on FNCB’s long history of strategic initiatives to meet the needs of the business community and grow market share.

“Our strong commercial banking heritage uniquely positions FNCB Bank not only to compete, but also to thrive in the equipment finance industry,” said Gerard Champi, President and CEO of FNCB Bank. “This will not only allow the Bank to grow, but will also provide our business customers with the expanded options they need to thrive in a competitive business environment.”

To learn more about 1st Equipment Finance, visit www.fncb.com/equipment

About ETF Bancorp, Inc.:
FNCB Bancorp, Inc. is the bank holding company of FNCB Bank. Locally based since 1910, FNCB Bank continues to be a leading community bank in Northeastern Pennsylvania – offering a full range of personal, small business and commercial banking solutions with mobile, online products and services. and in branches at the forefront of the industry. FNCB currently operates through 17 community offices located in Lackawanna, Luzerne and Wayne counties and remains committed to making the banking experience for its customers simply better. For more information on FNCB, visit www.fncb.com.

The FNCB may occasionally make written or oral declarations forward-looking statements, including statements contained in our filings with the Securities and Exchange Comit (SECOND), in our reports to shareholders and in our other communications, which we make in good faith in accordance with the refuge provisions of the Private Securities Litigation Reform Act of 1995.

These forward-looking statements includeStatements regarding FNCBs beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, including statements regarding new product offerings, which are subject to significant risks and uncertainties and which are subject tosubject to change depending on various factors (some of which are beyond our control). The words can,” “could,” “should,” “will be,” “would like,” “to believe,” “to anticipate,” “estimate,” “wait,” “intend,” “plan,” “project,” “futureand similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause FNCBs the financial performance differs materially from the plans, objectives, expectations, estimates and intentions expressed in these forward-looking statementsnts: the effect of novel coronavirus disease 2019 (“COVID-19”) pandemic on FNCB and its clients, the Commonwealth of Pennsylvania and the United States, related to the economy and overall financial stability; government and regulatory responses to the ethe COVID-19 pandemic; government intervention in the U.S. financial system, including the effects of 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 FNCB’s ability to manage credit risk; the weak economic environment, in general, and within the FNCBs market area; the deterioration of one or some of the commercial real estate loans with relatively large balances contained in the FNCBs loan portfolio; increased risk of defaults and losses due to the concentration of loans held by the FNCB, including those to insiders and related parties; if FNCBs portfolio of community small and medium enterprise loans increases its credit risk; if FNCBs ALLL is not sufficient to absorb actual losses or if increases in ALLL were needed; The FNCB is susubject to interest-interest rate risk and any change in interest rates could negatively impact net interest income or the fair value of the ETF’s financial assets; if management concludes that the decline in value of any of the ETF’s securitiess investment securities is other than ttemporary could lead the FNCB to recognize an impairment; if FNCBs the risk management framework is ineffective in mitigating risks or losses ETFs; if FNCB is unable to successfully compete with others for business; a loss of depositor confidence resultsng of changes in either ETNFs financial or general banking status; if FNCB is unable to maintain or increase its core deposit base; inability or insufficiency of dividends from its subsidiary FNCB Banque; if FNCB loses access to wholesale fundingsources g; interruptions or vulnerabilities of the FNCBs information systems; any breakdowns or interruptions of computer and telecommunications systems of third parties on which the FNCB depends; security failures; if FNCBs technical informationtechnology is unable to keep pace with industry growth or developments or if technological developments result in higher costs or less favorable prices; loss of management and other key personnel; dependence on the use of data and modeling in its two managements decision-making in general and meeting regulatory expectations in particular; additional risk arising from new lines of business, products, product enhancements or services offered by FNCB; inaccuracy of valuations and other valuation techniquesFNCB iques uses in the evaluation and monitoring of loans secured by real estate and other real estate held; failure of other financial institutions; damage to FNCBits reputation; defend litigation and other actions; depends on accuracy and completenessthe accuracy of customer and counterparty information; risks arising from future expansion or acquisition activity; environmental risks and associated costs on its foreclosed real estate assets; any remedial action ordered or any adverse action taken by the Fedepublic and state regulators, including by requiring FNCB be a source of financial and managerial solidity for Banque FNCB in times of crisis; costs arising from extensive government regulation, supervision and potential regulatory enforcement actions; new or amended legislation or regulations and regulatory initiatives; non-compliance with and enforcement of bank secrecy and other anti-money laundering laws and regulations; non-compliance with many “fair and responsible banking” lawss; any violation of privacy, information security and personal information protection laws or any other incident involving the personal, confidential or proprietary information of individuals; any regulatory changes implemented by the Consumer FinanSocial Welfare Office; the inability to attract and retain its top performers due to potential incentive compensation limitations contained in the federal agency’s proposed regulations; possible future increases of Banque FNCBs FDIC Deposit Insurance Premforums and assessments; and the success of the FNCB in managing the risks involved in the foregoing and other risks and uncertainties, including those detailed in the FNCBs SEC filings.

FNCB warns that the previous list of important factors is not all included. Readers are also cautioned not to place undue reliance on forward-looking statements, which reflect managements analysis only as of the date of this report, even if it is subsequently made available by the FNCB on its website or otherwise. ETFN does does not undertake to update any forward-looking statement, 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 read carefully the risk factors described in the Annual Report and other documents that the FNCB periodically files with the SEC, including its Form 10-K for the fiscal year ended December 31, 2020 and Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021.


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