Become A Wiser, More Profitable Investor

Peoples Financial Services to merge with FNCB - LVB - Lehigh Valley Business

Peoples Financial Services Corp., a Scranton-based bank with multiple locations in the Lehigh Valley, has announced plans to merge with FNCB Bancorp Inc. Peoples and FNCB will combine in an all-stock strategic merger valued at approximately $129 million based on a 20-day volume weighted average stock price for Peoples’ common stock of $44.13 as of Sept. 26, resulting in an implied price per share to holders of FNCB Common Stock of approximately $6.44 per share. Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, FNCB shareholders would receive 0.1460 shares of Peoples common stock for each share of FNCB common stock they own.

lvb.com     Sep 28, 2023