FNCB Bancorp Inc. And CIS, LLC Form Asset Purchase Agreement

FNCB Bancorp, Inc. (NASDAQ: FNCB), the parent company of FNCB Bank (“the Bank”), today announced that it entered into an asset purchase agreement between the Bank’s investment arm, FNCB Wealth Management Services and Chiaro Investment Services, LLC (“CIS”).

Following the closing of the transaction, FNCB’s Wealth Management Services will operate under a new brand, 1st Investment Services.

1st Investment Services will provide clients with a full suite of offerings, including Investment Management, Brokerage Services, Insurance Planning, and Retirement Services.

“We are extremely pleased to welcome Chiaro Investment Services’ associates and clients to the FNCB family,” said Gerard Champi, FNCB Bank President and CEO. “The combined experience of our team of advisors will benefit the organization and build on an exceptional legacy of service to our clients.”

Currently headquartered in Forty Fort, PA, CIS, is led by James P. Chiaro, CMFC, LPL Financial Advisor. Dunmore-based FNCB Wealth Management Services is led by Peter Albano, LPL Financial Advisor.  Mr. Chiaro will be appointed Chief Investment Services Officer and Executive Vice President upon the closing of the transaction, with responsibility for 1^st Investment Services.  Following the closing of the transaction, the combined teams, operating under 1^st Investment Services, will relocate their offices to 1625 Wyoming Avenue, Exeter and 124 South Blakely St., Dunmore.

“I am delighted to be joining 1^st Investment Services,” added James P. Chiaro. “The transaction combines the personalized financial planning and tailored investment strategies of CIS with the resources and extensive product set of FNCB Bank. I am excited about the unique opportunities this transaction will create for our clients, as well as our employees and business partners.”

The transaction will provide significant opportunities for organic growth throughout Pennsylvania, as well as national expansion, by combining FNCB Wealth Management’s strong roots in Northeastern Pennsylvania and CIS’s clients in 26 states. 

1^st Investment Services will continue to leverage the LPL Financial Institution Services platform to support its retail advisory and brokerage business. With LPL Financial, 1^st Investment Services has access to an array of investment solutions and wealth management platforms, along with technologically advanced strategies, tools, and resources necessary to grow and meet client needs.

For more information on 1^st Investment Services, visit www.1stinvestmentservice.com or call 570-348-4321.