First National Community Bank Exceeded All Regulatory Capital Levels Mandated by the OCC Consent Order at June 30, 2014
9 days 18 hours 3 minutes ago - DJNF
DUNMORE, Pa., Aug. 11, 2014 /PRNewswire/ -- First National Community Bancorp, Inc. (OTCQB: FNCB), today announced that as of June 30, 2014 its wholly owned subsidiary, Dunmore, Pennsylvania based First National Community Bank, was in full compliance with all regulatory capital levels that were required by the Bank's OCC Consent Order.
At June 30, 2014, the Bank's Total risk-based capital ratio was 14.74%, which was above the 13.00% required by the Order, and its Tier 1 leverage capital ratio was 9.62%, which was above the 9.00% required by the Order. The Bank's Total risk-based capital increased 131 basis points, and its Tier 1 leverage ratio increased 130 basis points at June 30, 2014 compared to December 31, 2013.
"This significant accomplishment is the result of the collective efforts of our Board, management team and every employee working diligently to improve the Bank's financial condition and to maintain the confidence of our loyal shareholders, customers and the communities we serve," said Steven R. Tokach, President and Chief Executive Officer. "Our strong capital position enables FNCB to remain an active competitor in Northeast Pennsylvania, and we look forward to being a significant factor in the growth of this region."
About First National Community Bank:
First National Community Bancorp, Inc. is the bank holding company of First National Community Bank, which provides personal, small business and commercial banking services to individuals and businesses throughout Lackawanna, Luzerne, and Wayne Counties in Northeastern Pennsylvania. The institution was established as a National Banking Association in 1910 as The First National Bank of Dunmore, and has been operating under its current name since 1988. For more information about FNCB, visit www.fncb.com.
INVESTOR CONTACT:
James M. Bone, Jr., CPA
Executive Vice President and
Chief Financial Officer
First National Community Bank
(570) 348-6419
james.bone@fncb.com
