Exhibit 99.1

FOR IMMEDIATE RELEASE

FNCB Bancorp, Inc. Reports Third Quarter Net Income of $1.850 Million

Year-To-Date Revenue of $31.7 Million Up 7.4% from Prior Year  

Dunmore, Pa., October 19, 2018/Globe Newswire/—FNCB Bancorp, Inc. (NASDAQ: FNCB), the parent company of Dunmore-based FNCB Bank (the “Bank”), reported net income of $1.850 million, or $0.11 per basic and diluted share, for the third quarter of 2018, compared to net income of $2.272 million, or $0.14 per basic and diluted share, for the same quarter of 2017. The $422 thousand, or 18.6%, decrease in third quarter earnings reflected increases of $0.8 million in non-interest expense and $0.6 million in the provision for loan and lease losses, coupled with a $ 0.4 million decrease in non-interest income. Partially offsetting these factors was a $0.9 million increase in net interest income comparing the third quarters of 2018 and 2017. Net income for the nine months ended September 30, 2018 was $6.281 million, or $0.37 per basic and diluted share, compared to $6.261 million, or $0.37 per basic and diluted share, for the same period of 2017.

Cash Dividends Declared 

Dividends declared and paid were $0.04 per share for the third quarter and $0.12 per share for the year-to-date period of 2018, which represented a 33.3% increase compared to $0.03 per share and $0.09 per share, respectively, for the three and nine months ended September 30, 2017. The dividend pay-out ratio for the nine months ended September 30, 2018 was 32.1%, compared to 24.0% for the same period of 2017.

Third Quarter 2018 Performance Highlights:

“The efforts of our dedicated team resulted in another solid and productive quarter characterized by continued loan and deposit growth, a double-digit increase in interest income compared to the prior year quarter, as well as solid year-over-year revenue growth (net interest income + non-interest income),” said Gerard A. Champi, President and Chief Executive Officer. “Loan demand in the third quarter of 2018 was driven by strong consumer loan activity and growth in our commercial real estate and municipal portfolios. Our third quarter loan loss provision was up $606 thousand in comparison to the third quarter 2017, primarily reflecting strong loan growth and a single commercial relationship that was placed on non-accrual status. Overall, our asset quality remains favorable with key industry metrics below or in line with peer levels. Core deposit funding, which continues to be a strategic focus, has remained solid throughout 2018, contributing to the nearly 12.0% growth in total deposits year over year. Our continued deposit growth was gratifying because it occurred despite some rather aggressive pricing from competitors across our service footprint, indicative of the ongoing strength of the FNCB Bank brand. We continue to focus on improving financial performance, with a specific benchmark for return on average assets of 1.00%. At the close of the third quarter of 2018, our balance sheet remains strong and our ability to attract core deposits, as well as generate growth across our various loan portfolios, we believe leaves us well positioned to extend our performance through the remainder of 2018 and the first half of 2019.”

Summary Results for the Three and Nine Months Ended September 30, 2018

Tax-equivalent net interest income was $9.4 million for the third quarter of 2018, an increase of $0.9 million, or 10.5%, from $8.5 million for the same quarter of 2017. Tax-equivalent net interest income for the nine months ended September 30, 2018 increased $2.9 million, or 11.9%, to $27.7 million compared to $24.8 million for the same nine-month period of 2017. The improvement for both the quarter and year-to-date periods was largely due to growth in average earning assets and higher earning-asset yields, partially offset by higher funding costs. Average earning assets grew $133.3 million, or 12.9%, and $102.2 million, or 9.9%, comparing the three- and nine-month periods ended September 30, 2018 and 2017, respectively. Tax-equivalent earning-asset yields improved 27 basis points for the third quarter and 31 basis points for the nine months ended September 30, 2018 over the same periods of 2017. For the three months ended September 30, 2018, the cost of funds increased 41 basis points to 1.00% from 0.59% for the same period of 2017. Similarly, the cost of funds increased 31 basis points to 0.84% from 0.53% comparing the year-to-date periods of 2018 and 2017. The tax-equivalent net interest spread for the nine months ended September 30, 2018 and 2017 remained stable at 3.10%, while the tax-equivalent net interest margin increased 6 basis points to 3.24% from 3.18% comparing the nine months ended September 30, 2018 and 2017, respectively. Despite the increase in the year-to-date margin, rising funding costs in the third quarter of 2018 resulted in a decrease in the tax-equivalent net interest margin of 6 basis points to 3.21% from 3.27% from the same quarter of 2017. Additionally, the net interest margin for the third quarter of 2018 compressed 5 basis points from the second quarter of 2018 percentage of 3.26%. For purposes of presenting net interest income, earning-asset yields and net interest margin information on a tax-equivalent basis, tax-free interest income is adjusted using the statutory federal corporate income tax rate of 21.0% for 2018 and 34.0% for 2017.

Non-interest income totaled $1.3 million for the three months ended September 30, 2018, a decrease of $0.4 million, or 23.0%, compared to $1.7 million for the comparable period of 2017. For the nine months ended September 30, 2018, non-interest income amounted to $4.4 million, a decrease of $0.9 million, or 17.7%, compared to $5.3 million for the same period of 2017. Included in non-interest income for the three and nine months ended September 30, 2017 were net gains on the sale of available-for sale securities of $0.4 million and $1.3 million, respectively. Comparatively, there were no net gains on the sale of available-for-sale securities for the three months ended September 30, 2018. For the nine months ended September 30, 2018, FNCB realized net losses on the sale of available-for-sale securities of $4 thousand.

For the three months ended September 30, 2018, non-interest expense increased $0.8 million, or 12.4%, to $7.2 million from $6.4 million for the same three months of 2017. Comparing the nine months ended September 30, 2018 and 2017, non-interest expense increased $1.1 million, or 5.5%. The increase in non-interest expense resulted largely from higher salaries and employee benefits expense related to staffing additions within FNCB Bank’s retail and commercial lending and credit administration units, coupled with increases in regulatory assessments, which, we believe, primarily reflected strong balance sheet growth.

Annualized return on average assets and return on average equity was 0.59% and 8.41%, respectively, for the three months ended September 30, 2018, compared to 0.80% and 9.27%, for the respective periods of 2017. For the nine months ended September 30, 2018, annualized return on average assets and return on average equity was 0.69% and 9.68%, respectively, compared to 0.74% and 8.87%, respectively, for the nine months ended September 30, 2017.

Asset Quality

Total non-performing loans were $4.4 million at September 30, 2018, an increase of $0.9 million from $3.5 million at June 30, 2018 and $1.8 million from $2.6 million at September 30, 2017. The increase from June 30, 2018 was primarily attributable to one commercial relationship that was placed on non-accrual status. The ratio of non-performing loans to total loans was 0.51% at September 30, 2018, compared to 0.41% at June 30, 2018 and 0.35% at September 30, 2017. Despite the increase in non-performing loans from the previous quarter end, FNCB’s asset quality continued to compare favorably to the peer average of 0.64% at June 30, 2018, the most recent data reported in the Board of Governors of the Federal Reserve System Bank Holding Company Performance Report for bank holding companies having assets between $1.0 billion and $3.0 billion. The allowance for loan and lease losses as a percentage of gross loans was 1.14% at September 30, 2018, 1.11% at June 30, 2018 and 1.17% at September 30, 2017.

Financial Condition

Total assets increased $88.8 million, or 7.6%, to $1.251 billion at September 30, 2018 from $1.162 billion at December 31, 2017. The increase in total assets primarily reflected strong growth in interest-earning assets. Specifically, loans, net of net deferred costs and unearned income, increased $93.7 million, or 12.2%, to $864.3 million at September 30, 2018 from $770.6 million at December 31, 2017. The asset growth was funded with an increase in total deposits of $92.7 million, or 9.2%, to $1.095 billion at September 30, 2018 from $1.002 billion at December 31, 2017. The increase in deposits was primarily attributable to increases in retail and wholesale time deposits, coupled with cyclical inflows from municipal customers.

Total shareholders’ equity decreased $2.6 million, or 2.9%, to $86.6 million at September 30, 2018 from $89.2 million at December 31, 2017. The reduction in capital resulted primarily from a $7.1 million increase in accumulated other comprehensive loss related to depreciation in the fair value of available-for-sale debt securities, net of deferred taxes, and year-to-date dividends declared of $2.0 million. Partially offsetting these decreases was net income of $6.3 million for the nine months ended September 30, 2018. Despite the decrease in capital, FNCB remains well capitalized with total risk-based capital and Tier I leverage ratios of 11.42% and 7.66%, respectively, at September 30, 2018.

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. Locally-based for over 100 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 operates through 16 branch offices located in Lackawanna, Luzerne and Wayne Counties and a limited purpose office in Lehigh County, and remains dedicated to making our 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 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, including for deposit and loan growth: 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 ability of FNCB to identify future acquisition targets, complete acquisitions and integrate new teams into FNCB’s operations; 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 press release, 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, 2017.