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Peoples Financial Services Corp. (Nasdaq: PFIS) and FNCB Bancorp, Inc. (Nasdaq: FNCB) have received all required regulatory approvals for their merger. Announced on June 14, 2024, the merger will see FNCB merge into Peoples, which will remain the surviving This follows the Agreement and Plan of Merger dated September 27, 2023. The completion of this merger is expected on July 1, 2024, pending standard closing conditions.
FNCB Bancorp, Inc. reported a net income of $3.5 million for Q1 2024, a 32.6% increase from Q1 2023. The annualized return on average assets and equity also improved. The company declared dividends of $0.09 per share for both Q1 2024 and 2023. FNCB is set to merge with PFIS, pending regulatory approval.
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