November 29, 2022


Enduring Values

FNCB Bank Wealth Administration Providers and Chiaro Investment Solutions LLC Enter Into Definitive Asset Purchase Settlement to Type “1st Expenditure Services”

FNCB Bancorp, Inc.

The Mix Makes a Powerful Portfolio of Potent Brand names and Abilities

DUNMORE, Pa., Sept. 30, 2022 (World NEWSWIRE) — FNCB Bancorp, Inc. (NASDAQ: FNCB), the mother or father organization of FNCB Lender (“the Bank”), right now announced that it entered into an asset order settlement amongst the Bank’s investment arm, FNCB Prosperity Administration Solutions and Chiaro Investment decision Providers, LLC (“CIS”).

Adhering to the closing of the transaction, FNCB Prosperity Administration Companies will operate under a new brand, 1st Expense Solutions.

1st Expenditure Services will supply clientele with a entire suite of offerings, which include Financial commitment Management, Brokerage Expert services, Coverage Preparing, and Retirement Expert services.

“We are really delighted to welcome Chiaro Financial commitment Services’ associates and shoppers to the FNCB spouse and children,” stated Gerard Champi, FNCB Lender President and CEO. “The mixed working experience of our group of advisors will profit the business and establish on an remarkable legacy of service to our clientele.”

At present headquartered in Forty Fort, PA, CIS, is led by James P. Chiaro, CMFC, LPL Monetary Advisor. Dunmore-based mostly FNCB Prosperity Administration Expert services is led by Peter Albano, LPL Fiscal Advisor.   Mr. Chiaro will be appointed Chief Financial commitment Companies Officer and Executive Vice President upon the closing of the transaction, with duty for 1st Financial commitment Solutions.   Subsequent the closing of the transaction, the merged teams, working under 1st Investment Products and services, will relocate their workplaces to 1625 Wyoming Avenue, Exeter and 124 South Blakely St., Dunmore.

“I am delighted to be joining 1st Expense Companies,” extra James P. Chiaro. “The transaction combines the individualized monetary arranging and customized investment strategies of CIS with the resources and extensive products established of FNCB Lender. I am enthusiastic about the exclusive possibilities this transaction will generate for our clientele, as well as our personnel and business enterprise companions.”

The transaction will deliver major prospects for organic and natural development throughout Pennsylvania, as nicely as nationwide growth, by combining FNCB Prosperity Management’s potent roots in Northeastern Pennsylvania and CIS’s customers in 26 states.

1st Investment Expert services will carry on to leverage the LPL Fiscal Establishment Solutions system to assistance its retail advisory and brokerage company. With LPL Fiscal, 1st Financial investment Companies has entry to an array of expense methods and wealth administration platforms, together with technologically highly developed methods, resources, and means needed to mature and fulfill client requirements.

For additional information on 1st Investment Providers, visit or connect with 570-348-4321.

About FNCB Bancorp, Inc.:

FNCB Bancorp, Inc. is the bank holding enterprise of FNCB Financial institution. Domestically-based for around 112 decades, FNCB Bank continues as a leading group lender in Northeastern Pennsylvania – offering a total suite of personal, compact business enterprise and commercial banking alternatives with industry-foremost cellular, on line and in-department goods and solutions. FNCB currently operates as a result of 16 local community workplaces positioned in Lackawanna, Luzerne and Wayne Counties and continues to be devoted to building its customers’ banking encounter simply far better. For much more data about FNCB, go to

Trader Get hold of:
James M. Bone, Jr., CPA
Govt Vice President and Main Monetary Officer
FNCB Financial institution
(570) 348-6419
[email protected]


FNCB could from time to time make prepared or oral “forward-hunting statements,” which includes statements contained in our filings with the Securities and Trade Commission (“SEC”), in our stories to shareholders, and in our other communications, which are manufactured in superior faith by us pursuant to the “safe harbor” provisions of the Non-public Securities Litigation Reform Act of 1995.

These ahead-hunting statements incorporate statements with regard to FNCB’s beliefs, programs, aims, ambitions, expectations, anticipations, estimates and intentions, that are subject to significant challenges and uncertainties, and are subject matter to transform based mostly on several aspects (some of which are over and above our control), including statements regarding the benefits or consequences of the proposed transaction with CIS. The phrases “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “future” and similar expressions are meant to detect ahead-looking statements. The pursuing factors, amid many others, could cause FNCB’s monetary overall performance to vary materially from the strategies, aims, anticipations, estimates and intentions expressed in these types of forward-hunting statements: the outcome of the novel Coronavirus Illness 2019 (“COVID-19”) pandemic on FNCB and its clients, the Commonwealth of Pennsylvania and the United States, associated to the economic system, overall fiscal steadiness and the global offer chain the COVID-19 pandemic and steps taken to control its unfold governing administration intervention in the U.S. monetary system together with the effects of interest fee actions taken by the Federal Open up Marketplace Committee, latest legislative, tax, accounting and regulatory actions and reforms, which includes, but not minimal to, the Coronavirus Support, Reduction, and Economic Stability Act (the “CARES Act”), the Dodd-Frank Wall Street Reform and Buyer Security Act (the “Dodd-Frank Act”) and the Tax Cuts and Employment Act political instability the ability of FNCB to handle credit rating danger weakness in the economic ecosystem, in typical, and in just FNCB’s marketplace space the deterioration of one particular or a few of the business real estate financial loans with fairly substantial balances contained in FNCB’s bank loan portfolio increased threat of bank loan defaults and losses from concentration of financial loans held by FNCB, which includes those people to insiders and related events if FNCB’s portfolio of financial loans to smaller and mid-sized group-based mostly organizations will increase its credit rating hazard if FNCB’s ALLL is not enough to take up precise losses or if will increase to the ALLL have been demanded FNCB is subject matter to curiosity-rate hazard and any modifications in fascination prices could negatively effect net interest revenue or the reasonable value of FNCB’s monetary property if administration concludes that the decline in price of any of FNCB’s financial commitment securities is other-than-short term could final result in FNCB recording an impairment reduction if FNCB’s danger administration framework is ineffective in mitigating pitfalls or losses to FNCB if FNCB is not able to correctly contend with other people for small business a reduction of depositor confidence ensuing from changes in possibly FNCB’s economical problem or in the normal banking sector if FNCB is not able to retain or improve its core deposit foundation inability or insufficient dividends from its subsidiary, FNCB Lender if FNCB loses entry to wholesale funding resources interruptions or protection breaches of FNCB’s information devices any units failures or interruptions in info technological know-how and telecommunications systems of third parties on which FNCB is dependent stability breaches if FNCB’s details technological innovation is unable to preserve pace with development or market developments or if technological developments consequence in greater expenditures or significantly less advantageous pricing the loss of management and other important personnel dependence on the use of information and modeling in equally its management’s choice-creating frequently and in conference regulatory expectations in certain further hazard arising from new strains of small business, products, product or service enhancements or services presented by FNCB inaccuracy of appraisals and other valuation strategies FNCB uses in assessing and monitoring financial loans secured by serious assets and other genuine estate owned unsoundness of other fiscal institutions injury to FNCB’s standing defending litigation and other actions dependence on the accuracy and completeness of information and facts about clients and counterparties challenges arising from long term expansion or acquisition activity environmental hazards and affiliated fees on its foreclosed serious estate belongings any remediation ordered, or adverse actions taken, by federal and condition regulators, including necessitating FNCB to act as a resource of money and managerial power for the FNCB Financial institution in times of tension costs arising from intensive govt regulation, supervision and doable regulatory enforcement actions new or modified legislation or regulation and regulatory initiatives noncompliance and enforcement action with the Lender Secrecy Act and other anti-income laundering statutes and polices failure to comply with many “honest and accountable banking” laws any violation of guidelines regarding privacy, information safety and defense of private data or yet another incident involving personal, private or proprietary information of people any rulemaking modifications applied by the Client Financial Defense Bureau inability to entice and keep its best executing staff owing to potential constraints on incentive compensation contained in proposed federal company rulemaking any future boosts in FNCB Bank’s FDIC deposit insurance policy rates and assessments and the good results of FNCB at taking care of the hazards associated in the foregoing and other risks and uncertainties, which include those people detailed in FNCB’s filings with the SEC.

FNCB cautions that the foregoing list of critical variables is not all inclusive. Audience are also cautioned not to spot undue reliance on any forward-seeking statements, which reflect management’s assessment only as of the day of this report, even if subsequently designed accessible by FNCB on its site or usually. FNCB does not undertake to update any forward-hunting assertion, whether or not penned or oral, that might be created from time to time by or on behalf of FNCB to mirror situations or instances taking place following the day of this press launch. Readers must cautiously review the danger factors described in the Once-a-year Report and other paperwork that FNCB periodically files with the SEC, including its Type 10-K for the 12 months ended December 31, 2021 and Kind 10-Q for the quarters ended March 31, 2022 and June 30, 2022.