DUNMORE, Pa.--(BUSINESS WIRE)--
First National Community Bancorp (OTCBB:FNCB) reported first quarter
earnings in the amount of $4.6 million, an 11% increase over the $4.2
million earned during the first quarter of 2008. Net interest income
before credit loss provisions improved $828,000, or 8%, over the first
quarter of last year due to growth. Total interest income decreased $2.6
million due primarily to the 2.00% reduction in the prime lending rate,
but effective asset/liability strategies resulted in a $3.4 million
reduction in total interest expense. Other income improved $235,000 over
the first three months of last year due primarily to gains from the same
of loans and securities. Basic earnings per share increased from $.27 in
2008 to $.29.
The company's subsidiary, First National Community Bank, conducts
business from 20 offices located throughout Lackawanna, Luzerne, Wayne,
and Monroe counties.
Source: First National Community Bancorp
Contact: First National Community Bancorp
William Lance, 570-348-6438