FNCB Bancorp, Inc. Approves the Acceleration of a Partial Principal Repayment on its Fixed-Rate Subordinated Notes Due September 1, 2019
July 27, 2017 at 04:05 pm EDT
Share
On July 27, 2017, the Board of Directors of FNCB Bancorp, Inc. approved the acceleration of a partial principal repayment in the amount of $5.0 million, representing 50.0% of the current principal balance outstanding, on its fixed-rate subordinated notes due September 1, 2019. The $5.0 million principal repayment on the Notes, which was originally due and payable on September 1, 2018, will be paid to Noteholders on September 1, 2017. This repayment follows two previous accelerated partial repayments of $4.0 million on December 1, 2016 and $11.0 million on June 30, 2015.
FNCB Bancorp, Inc. is the bank holding company of FNCB Bank (the Bank). Its primary activity consists of owning and operating the Bank. The Bank is engaged in offering a suite of personal, small business and commercial banking solutions with mobile, online, and in-branch products and services. For personal customers, the Bank provides various deposit products, including savings, money markets, certificates of deposit and checking accounts, along with a line of preferred relationship products that offer premium benefits for higher-balance customers. The Bank offers a variety of financing alternatives to individuals and businesses generally in its primary market area through the origination of loans and leases, including residential real estate loans, construction, land acquisition and development loans, commercial real estate loans, commercial and industrial loans, and others. The Bank operates through about 16 community offices located in Lackawanna, Luzerne, and Wayne Counties.
FNCB BANCORP, INC. 