Peoples Financial Services, FNCB Bancorp Agree To Combine In An All-stock Strategic Merger Valued At $129.0M

Upon the completion of the merger, the FNCB shareholders would receive 0.1460 shares of Peoples common stock for each share of FNCB common stock they own. The deal resultis in an implied price per share to holders of FNCB Common Stock of approximately $6.44 per share. The transaction is projected to deliver 59% EPS accretion to Peoples 2025 estimated EPS and inclusive of all merger synergies, with a tangible book value earn-back period of 2.4 years.