Business report

FNCB Wealth Management Services and CIS sign asset purchase agreement

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Dunmore-based FNCB Wealth Management Services, the investment arm of FNCB Bank, and Forty Fort-based Chiaro Investment Services (CIS), recently entered into an asset purchase agreement.

Upon completion, FNCB Wealth Management Services will operate under the 1st Investment Services brand.

The transaction combines the resources and products of FNCB Bank with the financial planning and bespoke investment strategies of CIS. It allows businesses to expand throughout Pennsylvania and expand nationally.

1st Investment Services will provide clients with brokerage, insurance planning, investment management, retirement and other offerings. He will have customers in 26 states.

“We are extremely pleased to welcome the partners and clients of Chiaro Investment Services to the FNCB family,” said FNCB Bank Chairman and CEO Gérard Champi. “The combined experience of our advisory team will benefit the organization and build on an exceptional legacy of serving our clients.”

James P. Chiaro directs SIC. He will be named 1st Head of Investment Services Investment Services and Executive Vice President.

Once the transaction closes, 1st Investment Services will operate out of two locations: 124 South Blakely St. in Dunmore and 1625 Wyoming Ave. at Exeter.

FNCB Bancorp is the banking holding company of FNCB Bank. FNCB operates in Lackawanna, Luzerne and Wayne counties.