EXHIBIT 99.1

FOR IMMEDIATE RELEASE 

FNCB Bancorp, Inc. Reports

92% Increase in First Quarter 2017 Earnings

Dunmore, Pa., April 28, 2017/Globe Newswire/—FNCB Bancorp, Inc. (OTCQX: FNCB), the parent company of Dunmore-based FNCB Bank (the “Bank”), reported net income of $2.197 million, or $0.13 per basic and diluted share, for the quarter ended March 31, 2017, an increase of $1.054 million, or 92.2%, compared to net income of $1.143 million, or $0.07 per basic and diluted share, for the same quarter of 2016. The earnings improvement was largely due to a credit for loan and lease losses resulting from a recovery of a previously charged-off loan. First quarter 2017 earnings were also impacted by higher net interest income and non-interest income, partially offset by increases in income tax expense and non-interest expense. Annualized return on average assets and return on average equity improved to 0.78% and 9.77%, respectively, for the three months ended March 31, 2017, compared to 0.42% and 5.15%, respectively, for the same three months of 2016. FNCB paid holders of its common stock a dividend of $0.03 per share for the first quarter of 2017, a 50.0% increase compared to $0.02 per share for the same period of 2016. The first quarter 2017 dividend represented a 1.9% annualized return to shareholders based on the closing stock price of $6.37 per share at March 31, 2017.

Performance Highlights:

“The successful management and resolution of non-performing assets, effective balance sheet management and continued improvement in credit quality and operating efficiency all factored into the solid operating results posted for the first quarter of 2017,” stated Gerard A. Champi, President and Chief Executive Officer. “For the remainder of the year, we are focusing on developing opportunities that will provide for meaningful, profitable and sustainable revenue growth for the future. Along those lines, during the first quarter we expanded our footprint into the Lehigh Valley marketplace through the opening of a limited purpose banking office in Allentown, Pennsylvania. We believe this new market provides a unique growth opportunity for FNCB going forward,” concluded Champi.

Summary Results for the Three Months Ended March 31, 2017

Tax-equivalent net interest income increased $0.3 million, or 4.4%, to $8.1 million for the first three months of 2017, from $7.7 million for the same period in 2016. The improvement reflected strong growth in average-earning assets, higher yields on the loan and investment portfolios due to increases in market interest rates, a reduction in average borrowed funds and stable funding costs. Tax-equivalent interest income increased $0.4 million, or 4.4%, to $9.1 million for the three-month period ended March 31, 2017 compared to $8.7 million for the same period of 2016. Partially offsetting the increase in interest income was a $0.1 million increase in interest expense. The increase in tax-equivalent interest income primarily resulted from a $58.1 million, or 5.9%, increase in average earning assets, specifically a $26.6 million, or 10.3%, increase in average investment securities and a $35.8 million, or 955.0%, increase in average interest-bearing deposits in other banks. The tax-equivalent yields earned on the loan and investment portfolios increased 6 basis points and 11 basis points, respectively, comparing the first quarters of 2017 and 2016. Despite these increases, the tax-equivalent yield on earning assets decreased 5 basis points to 3.47% for the three months ended March 31, 2017 from 3.52% for the same three months of 2016, as 61.6% of the growth in average earning assets was concentrated in lower-yielding deposits in other banks. Regarding interest expense, FNCB’s cost of funds remained stable at 0.48% for the three months ended March 31, 2017 and 2016, as strong deposit growth resulted in reduced reliance on higher-costing wholesale funds and other borrowed funds. Average deposits grew $82.6 million, or 11.4%, to $808.0 million for the three months ended March 31, 2017 from $725.4 million for the same three months of 2016. Conversely, average borrowed funds decreased $35.1 million, or 30.9%, to $78.3 million for the first quarter of 2017 from $113.4 million for the same quarter of 2016, resulting from reductions in FHLB borrowings in the first quarter of 2017 and a $4.0 million payment on FNCB’s subordinated debentures on December 1, 2016.

For the three months ended March 31, 2017 non-interest income totaled $1.6 million, an increase of $0.2 million, or 18.0%, compared to $1.3 million for the same three months of 2016. The change resulted primarily from an increase in net gains on the sale of securities of $0.2 million comparing the first quarters of 2017 and 2016. In addition, FNCB also recorded net gains on the sale of OREO and other repossessed assets of $51 thousand and $57 thousand, respectively, in the first quarter of 2017. Comparatively, for the first quarter of 2016, FNCB recorded a net loss on the sale of OREO of $5 thousand. Partially offsetting these gains was a decrease in net gains on the sale of mortgage loans of $43 thousand.

FNCB experienced a slight increase of $0.1 million, or 1.8%, in non-interest expense comparing the three months ended March 31, 2017 and 2016, primarily reflecting an increase of $94 thousand, or 19.1%, in occupancy expense, resulting from long-term facilities planning and increased snow removal costs during the first quarter of 2017. Other increases comparing the first quarters of 2017 and 2016 included $37 thousand in equipment expenses, $21 thousand in advertising expenses, and $17 thousand in bank shares tax. Partially offsetting these increases were decreases in regulatory assessments, legal expense, and data processing expense of $64 thousand, $52 thousand, and $36 thousand, respectively. FNCB’s efficiency ratio for the three months ended March 31, 2017 improved to 74.08% from 76.01% for the same three months of 2016.

Improved Asset Quality

Effective management of problem credits and delinquent loans led to continued improvement in FNCB’s asset quality during the first quarter of 2017. Total non-performing loans decreased $0.3 million, or 14.0%, to $1.9 million at March 31, 2017 from $2.2 million at December 31, 2016. The ratio of non-performing loans to total loans improved to 0.27% at March 31, 2017, compared to 0.31% at December 31, 2016 and 0.49% at March 31, 2016. In addition, delinquent loan levels continued to improve as evidenced by a 6-basis point improvement in ratio of total delinquent loans to total loans to 0.75% at March 31, 2017 from 0.81% at December 31, 2016. The allowance for loan and lease losses as a percentage of gross loans was 1.16% at March 31, 2017 versus 1.15% at the end of 2016.

Financial Condition

Total assets decreased $91.5 million, or 7.7%, to $1.104 billion at March 31, 2017 from $1.195 billion at December 31, 2016. The change in total assets primarily reflected a $91.7 million reduction in total deposits, which led to a corresponding decrease of $85.7 million in cash and cash equivalents. The decrease in total deposits was primarily attributable to cyclical net outflows of public funds, coupled with the anticipated exit of short-term funds received at the end of 2016 related to the sale of a municipal utility. Net loans decreased by $15.7 million, or 2.2%, while available-for-sale securities grew by $12.3 million, or 4.5%. The decrease in net loans resulted primarily from the planned exit of a large, local automobile floor plan relationship.

Total shareholders’ equity increased $3.0 million, or 3.4%, to $93.2 million at March 31, 2017 from $90.1 million at December 31, 2016. The capital improvement resulted primarily from net income of $2.2 million, coupled with a $1.0 million decrease in the accumulated other comprehensive loss, from the appreciation in the fair value of available-for-sale securities, net of tax effects.

Availability of Filings

Copies of FNCB’s most recent Annual Report on Form 10-K and Quarterly Reports on form 10-Q will be provided upon request from: Shareholder Relations, FNCB Bancorp, Inc., 102 East Drinker Street, Dunmore, PA 18512 or by calling (570) 348-6419. FNCB’s SEC filings including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q are also available free of charge on the Investor Relations page of the FNCB’s website, www.fncb.com, and on the SEC website at: http://www.sec.gov/edgar/searchedgar/companysearch.html

About FNCB Bancorp, Inc.:

FNCB Bancorp, Inc. is the bank holding company of FNCB Bank, which provides personal, small business and commercial banking services to individuals and businesses throughout Northeastern Pennsylvania through its 19 branch offices and Allentown-based Limited Purpose Banking Office. The institution was established as a National Banking Association in 1910 as The First National Bank of Dunmore, and had been operating under the name First National Community Bank from 1988 through June 2016. Effective June 30, 2016, the institution changed its name to FNCB Bank upon its conversion from a national charter to a Pennsylvania state charter. For more information about BauerFinancial 5-Star rated 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 our filings with the Securities and Exchange Commission (“SEC”), in its reports to shareholders, and in 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 FNCB’s 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,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan” and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause FNCB’s financial performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in our markets; the effects of, and changes in trade, monetary, fiscal and tax policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation, interest rate, market and monetary fluctuations; the timely development of and acceptance of new products and services; the ability of FNCB to compete with other institutions for business; the composition and concentrations of FNCB’s lending risk and the adequacy of FNCB’s reserves to manage those risks; the valuation of FNCB’s investment securities; the ability of FNCB to pay dividends or repurchase common shares; the ability of FNCB to retain key personnel; the impact of any pending or threatened litigation against FNCB; the marketability of shares of FNCB stock and fluctuations in the value of FNCB’s share price; the effectiveness of FNCB’s system of internal controls; the ability of FNCB to attract additional capital investment; the impact of changes in financial services’ laws and regulations (including laws concerning capital adequacy, taxes, banking, securities and insurance); the impact of technological changes and security risks upon our information technology systems; changes in consumer spending and saving habits; the nature, extent, and timing of governmental actions and reforms, and the success of FNCB at managing the risks involved in the foregoing and other risks and uncertainties, including those detailed in FNCB’s 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 management’s 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 report.

Readers should carefully review the risk factors described in the Annual Report and other documents that FNCB periodically files with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2016.

[FNCB provides tabular information as follows]

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Selected Financial Data

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Year-to-Date Consolidated Statements of Income

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Quarter-to-Date Consolidated Statements of Income

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Consolidated Balance Sheets

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Summary Tax-equivalent Net Interest Income

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Asset Quality Data