Dunmore-based bank ranks first in Pennsylvania and third
nationally in return on average equity (ROAE)
Online PR News – 04-June-2014 – Dunmore, PA – First National Community Bank (OTCQB: FNCB), locally based for more than 100 years, was recently rated as the top bank in Pennsylvania and among the best in the country by a leading trade publication.
In the most recent issue of the ABA Banking Journal, First National Community Bancorp, Inc., the parent company of FNCB, ranked first in Pennsylvania and third nationally in return on average equity (ROAE) among publicly held financial institutions.
The ranking is based on 2013 return on average equity for federally insured domestic depository institutions with assets between $1 billion and $10 billion as of December 31, 2013. A total of 252 institutions qualified, with FNCB’s 18.72% ROAE trailing only Central Pacific Financial Corp. (Honolulu, HI) 27.70% and Palmetto Bancshares (Greenville, SC) 26.06%.
FNCB’s one year ROAE was well above the average 8.24% ROAE for the full comparison group.
“Through a variety of initiatives designed to improve efficiencies and processes, we were able to post significantly improved results compared to 2012,” said Steven R. Tokach, President and Chief Executive Officer. “We are honored to be recognized by the ABA Banking Journal for the hard work and effort our entire team has put into making us the best community bank not only locally, but nationally as well.”
The report is more good news for FNCB. The Bank recently announced a first quarter 2014 net income of $3.5 million — their fifth consecutive quarter of positive net earnings.
For the full ABA Banking Journal story and complete list of rankings, visit http://tinyurl.com/BJmidsizebanks
About FNCB, Simply a better bank™
First National Community Bank, locally-based for over 100 years, continues as Northeastern Pennsylvania's premier community bank — offering a full suite of personal, small business and commercial banking solutions with industry-leading mobile, online and in-branch products and services. FNCB remains dedicated to the communities they serve with an on-going mission to be: Simply a better bank™. For more information, visit www.fncb.com