Dunmore, Pa., Feb. 05, 2019 (GLOBE NEWSWIRE) -- FNCB Bancorp, Inc. (Nasdaq: FNCB), announced today that it priced its previously announced public offering of 2,857,000 shares of common stock at a public offering price of $7.00 per share, for gross proceeds of approximately $20.0 million. The Company expects to close the offering February 8, 2019, subject to customary closing conditions.

After deducting the underwriting discount and estimated offering expenses, the Company expects to receive net proceeds of approximately $18.4 million. The Company intends to use the proceeds of the offering for general corporate purposes, including the contribution of a portion of the proceeds to FNCB Bank, the Company’s wholly-owned subsidiary, as additional capital to support growth in its lending and investment operations.

Performance Trust Capital Partners, LLC is serving as the sole bookrunning manager and FIG Partners, LLC is serving as the lead manager for this offering. The Company has granted the underwriters a 30-day option to purchase up to an additional 428,550 shares of common stock from the Company at the public offering price, less the underwriting discount.

ABOUT FNCB BANCORP, INC.

FNCB Bancorp, Inc. is the bank holding company of FNCB Bank. Locally-based for over 100 years, FNCB Bank continues as a premier community bank in Northeastern Pennsylvania – offering a full suite of personal, small business and commercial banking solutions with industry-leading mobile, online and in-branch products and services. FNCB operates through 16 branch offices located in Lackawanna, Luzerne and Wayne Counties and a limited purpose office in Lehigh County, and remains dedicated to making its customers’ banking experience simply better.