Bancorp ETF: Increases Third Quarter 2022 Dividend by 20.0% – Form 8-K


ETF Bancorp, Inc. Increases Third Quarter 2022 Dividend by 20.0%

Dunmore, Pa., July 27, 2022/Globe Newswire/-On July 27, 2022, the board of directors of FNCB Bancorp, Inc. (NASDAQ: FNCB) declared a dividend of $0.090 per share for the third quarter of 2022, an increase of $0.015 per share, or 20.0%, from $0.075 per share reported for each of the two prior quarters of 2022, and an increase of $0.015 per share, or 20.0%, from $0.075 per share declared for the third quarter of 2021. Year-to-date dividends declared in 2022 total $0.240 per share, compared to $0.195 per share in 2021, an increase of $0.045 per share, or 23.1%. The third quarter 2022 dividend is payable on September 15, 2022 to shareholders of record on September 1, 2022.

About ETF Bancorp, Inc.:

FNCB Bancorp, Inc. is the bank holding company of FNCB Bank. Locally based for more than 112 years, 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 products and services , online and in-branch at the forefront of the industry. FNCB currently operates through 16 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


James M. Bone, Jr., CPA

Executive Vice President and

Financial director


(570) 348-6419

[email protected]

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”), our reports to shareholders and 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 regarding FNCB’s beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, which are subject to significant risks and uncertainties and subject to change based on various factors (some of which are beyond our control). The words “may”, “could”, “should”, “shall”, “should”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan ‘, ‘projects’, ‘future’ and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause the financial performance of the ETCF to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: the effect of the coronavirus pandemic (“COVID-19” ) on FNCB and its customers, the Commonwealth of Pennsylvania and the United States, related to the economy, global financial stability and the global supply chain; the COVID-19 pandemic and the measures taken to control its spread; 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 (theCARES Act), the Dodd-Frank Wall Street Reform and Consumer Protection Act (theDodd–Frank Act) and the Tax Cuts and Jobs Act; political instability; the FNCB’s ability to manage credit risk; the weak economic environment generally and within FNCB’s market area; the deterioration of one or some of the commercial real estate loans with relatively large balances contained in FNCB’s loan portfolio; an increased risk of defaults and losses due to the concentration of loans held by the FNCB, including those to insiders and related parties; whether FNCB’s loan portfolio to small and medium-sized convenience businesses increases its credit risk; if the ETNF’s ALLL is not sufficient to absorb actual losses or if increases in ALLL were necessary; The FNCB is subject to interest rate risk and any change in interest rates could have a negative impact on the net interest income or the fair value of the financial assets of the FNCB; if management concludes that the decline in value of one of the ETF’s investment securities is other than temporary, this could lead the ETF to recognize an impairment loss; if the FNCB’s risk management framework is ineffective in mitigating risks or losses to the FNCB; if FNCB is unable to successfully compete with others for business; loss of depositor confidence resulting from changes in the financial condition of FNCB or in the banking industry generally; if the ETCF 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 funding sources; interruptions or security breaches of the FNCB’s information systems; any breakdowns or interruptions in the computer and telecommunications systems of third parties on which the FNCB depends; security failures; if FNCB’s information technology is unable to keep pace with growth or changes in the industry or if technological changes result in higher costs or less favorable pricing; loss of management and other key personnel; reliance on the use of data and modeling both in its management’s decision-making generally and to meet 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 techniques used by FNCB in the valuation and monitoring of loans secured by real estate and other real estate held; failure of other financial institutions; damage to the reputation of the FNCB; defend litigation and other actions; dependence on the accuracy and completeness 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 corrective action ordered or adverse action taken by federal and state regulators, including the requirement for FNCB to act as a source of financial and management strength for FNCB Bank 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 numerous “fair and responsible banking” laws; 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 Financial Protection Bureau; the inability to attract and retain its top performers due to potential incentive compensation limitations contained in the federal agency’s proposed regulations; any future increases in FNCB Bank’s FDIC deposit insurance premiums and assessments; and FNCB’s success in 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 exhaustive. Readers are also cautioned not to place undue reliance on 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 ETF periodically files with the SEC, including its Form 10-K for the year ended December 31, 2021 and Form 10-Q for the quarter ended March 31, 2022. .


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