Item 8.01. Other Events.
On November 30, 2020, FNCB Bancorp, Inc. (the "Company"), announced that FNCB
Bank (the "Bank"), the Company's wholly-owned subsidiary, will close its Limited
Purpose Office ("LPO") located at 3500 Winchester Road, Allentown, Lehigh
County, Pennsylvania, effective January 18, 2021. The decision to close the LPO,
which had previously operated as a commercial sales office, is in the Bank's
best interest and is consistent with its strategic goals and objectives. All
customer relationships have been transferred and are being serviced by the
Bank's commercial lending division. The Bank does not anticipate any significant
customer disruption due to the closure of the LPO.
The Bank does not anticipate a material change to ongoing operating expenses
resulting from the LPO closure, although an immaterial amount of cost savings
will be realized as a result of the non-renewal of the expiring lease agreement
for this location.
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