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On January 27, 2021, FNCB Bancorp, Inc. (NASDAQ:FNCB) declared a dividend of $0.06 per share for Q1 2021, marking a 9.1% increase from the prior year's $0.055. This dividend is set to be payable on March 15, 2021 to shareholders recorded by March 1, 2021.
FNCB has been a community bank in Northeastern Pennsylvania for 110 years, offering a range of banking solutions through 17 offices. The bank aims to improve customer experience with industry-leading products.
FNCB Bancorp reported a net income of $4.1 million for Q3 2020, up 70.9% from Q3 2019. Earnings per share rose to $0.20. For the first nine months, net income reached $10.2 million, a 34.3% increase year-over-year. Growth in net interest income and non-interest income was noted, alongside a reduction in loan loss provisions. Total assets surged 19.9% to $1.443 billion. The dividend yield is approximately 4.1%. However, net interest margin contracted amid a challenging rate environment.
On October 28, 2020, FNCB Bancorp, Inc. declared a fourth-quarter dividend of $0.055 per share, marking a 10.0% increase from $0.05 in Q4 2019. The total dividends for 2020 sum to $0.22 per share, a rise of 10.0% compared to $0.20 in 2019. The dividend is payable on December 15, 2020 to shareholders on record as of December 1, 2020. This announcement underscores FNCB's commitment to returning value to shareholders amidst a challenging economic environment.
FNCB Bancorp, Inc. (NASDAQ:FNCB) declared a dividend of $0.055 per share for Q3 2020, marking a 10% increase from the $0.05 per share dividend in Q3 2019. Year-to-date dividends amount to $0.165 per share, also a 10% increase compared to the same period last year. This dividend is payable on September 15, 2020 to shareholders of record as of September 1, 2020.
FNCB Bancorp reported a strong financial performance for Q2 2020, with net income rising to $4.0 million, up 57.7% year-over-year. Year-to-date, net income reached $6.1 million, a 17.4% increase. Key drivers included higher net interest income and a reduction in non-interest expenses, despite a rise in provisions for loan losses. Total assets grew by 17.8% to $1.418 billion, and total deposits increased by 16.8% to $1.170 billion. Dividends rose by 10%, yielding approximately 3.8%. The company faced challenges with loan losses due to COVID-19 but maintained a strong capital position.
FNCB Bancorp, Inc. (Nasdaq: FNCB) announced its inclusion in the US small-cap Russell 2000® Index, effective June 29, 2020, following its membership in the Russell 3000® Index since July 1, 2019. This milestone recognizes FNCB's growth and solid financial performance, enhancing its visibility in the investment community. The Russell indexes are essential for investment managers, with about $9 trillion in assets benchmarked against them, indicating the potential for increased institutional investment in FNCB.
FNCB Bancorp, Inc. announces the retirement of R. Gregory Collins, Executive Vice-President and Chief Banking Officer, effective September 30, 2020, concluding a distinguished 40-year banking career. Collins has played a crucial role in overseeing commercial lending, retail lending, and retail banking since joining FNCB in 2018. His prior experience includes leading Wells Fargo's Northeastern Pennsylvania region. CEO Gerard Champi praised Collins for his leadership and mentorship, which will leave a lasting impact on the bank.