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FNCB Bancorp, Inc. Announces Election of William P. Conaboy, Esquire to Boards of Directors

08/30/2022

Dunmore, PA, Aug. 30, 2022 (GLOBE NEWSWIRE) -- FNCB Bancorp, Inc. (NASDAQ: FNCB; www.fncb.com), the parent company of Dunmore-based FNCB Bank (Bank), today announced that William P. Conaboy, Esquire has been elected to the Boards of Directors of the Bank and FNCB, with his service to commence October 1, 2022. It is anticipated that Attorney Conaboy will serve on the Audit and Risk Committees of FNCB.

Attorney Conaboy currently serves as President and Chief Executive Officer for Allied Services Integrated Health System, a role he has held since 2009. Prior to his current position, he was Chief Operations Officer, Senior Vice President/General Counsel and Corporate Compliance Officer for Allied from 1992 – 2008.

“We are excited to have Attorney Conaboy as a member of our boards,” said Gerard Champi. FNCB Bank President & CEO. “His extensive and exemplary background in the healthcare industry and local community will bring an invaluable perspective that will further position FNCB for continued growth.”

Attorney Conaboy is a life-long Northeastern Pennsylvania resident and community leader. He graduated from Scranton Central High School (1976), the University of Scranton (B.S. 1980), and Dickinson School of Law (J.D., 1983). Attorney Conaboy is a proud veteran, having served in the United States Army. While attending the University of Scranton, Attorney Conaboy was awarded a four (4) year ROTC Scholarship and completed Infantry Airborne School in 1979. Before his career at Allied, he held positions as solicitor to various municipalities and authorities, as well as counsel to various corporations. He also had a general private practice as partner at Abrahamsen, Moran and Conaboy.

Extremely active in the community, he has played a key advisory role on boards with numerous local organizations. He currently serves as Chairman, Northeast Regional Cancer Institute and is a member of the Board of Directors of the Pennsylvania Rehabilitation and Community Providers Association. He is a past Chairman and board member for the Lackawanna College Board of Trustees, and a past board member for the Regional Advisory Council of the Commonwealth Medical College, Scranton Chamber of Commerce, Northeast Pennsylvania Boy Scouts of America, Scranton Boys and Girls Club, Ronald McDonald House of Northeast Pennsylvania, and First National Community Bank.

He currently resides in Lake Winola with his wife Mary Ellen. The couple have three children: Attorney William P. Conaboy, Jr. PharmD and wife Rachael, Attorney Andrew J. Conaboy and wife Laura, Attorney Jordann R. Conaboy; and five grandchildren.

About FNCB Bancorp, Inc.:
FNCB Bancorp, Inc. is the bank holding company of FNCB Bank. Locally-based for over 112 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 currently operates through 16 community offices located in Lackawanna, Luzerne and Wayne Counties and remains dedicated to making its customers’ banking experience simply better. For more information about FNCB, visit www.fncb.com.

INVESTOR CONTACT:
James M. Bone, Jr., CPA
Executive Vice President and Chief Financial Officer
FNCB Bank
(570) 348-6419
james.bone@fncb.com

FNCB may from time to time make written or oral forward-looking statements, including statements contained in its filings with the Securities and Exchange Commission (SEC), in its reports to shareholders, and in its 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 with respect to FNCBs beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, that are subject to significant risks and uncertainties, and are subject to change based on various factors (some of which are beyond our control). The words may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “future and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause FNCBs financial performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: the effect of the novel Coronavirus Disease 2019 ("COVID-19") pandemic on FNCB and its customers, the Commonwealth of Pennsylvania and the United States, related to the economy, overall financial stability and the global supply chain; the COVID-19 pandemic and actions taken to control its spread; government intervention in the U.S. financial system including the effects of recent interest rate actions taken by the Federal Open Market Committee, recent legislative, tax, accounting and regulatory actions and reforms, including, but not limited to, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) and the Tax Cuts and Jobs Act; political instability; the ability of FNCB to manage credit risk; weakness in the economic environment, in general, and within FNCBs market area; the deterioration of one or a few of the commercial real estate loans with relatively large balances contained in FNCBs loan portfolio; greater risk of loan defaults and losses from concentration of loans held by FNCB, including those to insiders and related parties; if FNCBs portfolio of loans to small and mid-sized community-based businesses increases its credit risk; if FNCBs ALLL is not sufficient to absorb actual losses or if increases to the ALLL were required; FNCB is subject to interest-rate risk and any changes in interest rates could negatively impact net interest income or the fair value of FNCB's financial assets; if management concludes that the decline in value of any of FNCBs investment securities is other-than-temporary could result in FNCB recording an impairment loss; if FNCBs risk management framework is ineffective in mitigating risks or losses to FNCB; if FNCB is unable to successfully compete with others for business; a loss of depositor confidence resulting from changes in either FNCBs financial condition or in the general banking industry; if FNCB is unable to retain or grow its core deposit base; inability or insufficient dividends from its subsidiary, FNCB Bank; if FNCB loses access to wholesale funding sources; interruptions or security breaches of FNCBs information systems; any systems failures or interruptions in information technology and telecommunications systems of third parties on which FNCB depends; security breaches; if FNCBs information technology is unable to keep pace with growth or industry developments or if technological developments result in higher costs or less advantageous pricing; the loss of management and other key personnel; dependence on the use of data and modeling in both its managements decision-making generally and in meeting regulatory expectations in particular; additional risk arising from new lines of business, products, product enhancements or services offered by FNCB; inaccuracy of appraisals and other valuation techniques FNCB uses in evaluating and monitoring loans secured by real property and other real estate owned; unsoundness of other financial institutions; damage to FNCBs reputation; defending litigation and other actions; dependence on the accuracy and completeness of information about customers and counterparties; risks arising from future expansion or acquisition activity; environmental risks and associated costs on its foreclosed real estate assets; any remediation ordered, or adverse actions taken, by federal and state regulators, including requiring FNCB to act as a source of financial and managerial strength for the FNCB Bank in times of stress; costs arising from extensive government regulation, supervision and possible regulatory enforcement actions; new or changed legislation or regulation and regulatory initiatives; noncompliance and enforcement action with the Bank Secrecy Act and other anti-money laundering statutes and regulations; failure to comply with numerous "fair and responsible banking" laws; any violation of laws regarding privacy, information security and protection of personal information or another incident involving personal, confidential or proprietary information of individuals; any rulemaking changes implemented by the Consumer Financial Protection Bureau; inability to attract and retain its highest performing employees due to potential limitations on incentive compensation contained in proposed federal agency rulemaking; any future increases in FNCB Banks FDIC deposit insurance premiums and assessments; and the success of FNCB at managing the risks involved in the foregoing and other risks and uncertainties, including those detailed in FNCBs filings with the SEC.

FNCB cautions that the foregoing list of important factors is not all inclusive. Readers are also cautioned not to place undue reliance on any forward-looking statements, which reflect managements 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 FNCB periodically files with the SEC, including its Form 10-K for the year ended December 31, 2021 and Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022.

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William P. Conaboy

William P. Conaboy, Esquire to Boards of Directors
Source: FNCB Bancorp, Inc.

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