FNCB, Chiaro form 1st Investment Services
Oct. 3—FNCB Bancorp Inc., the parent company of Dunmore-based FNCB Bank, announced FNCB Wealth Management Services purchased Forty Fort-based Chiaro Investment Services LLC on Friday for an undisclosed price.
Following the closing of the transaction, FNCB's Wealth Management Services now operates as 1st Investment Services, which advises clients on investment management, brokerage services, insurance planning and retirement services.
"We are extremely pleased to welcome Chiaro Investment Services' associates and clients to the FNCB family," said Gerard Champi, FNCB Bank president and CEO. "The combined experience of our team of advisors will benefit the organization and build on an exceptional legacy of service to our clients."
James P. Chiaro, president of Chiaro Investment Services, was appointed chief investment services officer and executive vice president for 1st Investment Services.
"The transaction combines the personalized financial planning and tailored investment strategies of CIS with the resources and extensive product set of FNCB Bank," Chiaro said.
The combined teams, operating under 1st Investment Services, relocated their offices to 1625 Wyoming Ave., Exeter, and 124 S. Blakely St., Dunmore.
FNCB operates 16 community offices located in Lackawanna, Luzerne and Wayne counties.
"This sets a foundation for offering expanded investment services to our community," said Michael Cummings, senior vice president, marketing manager for FNCB. "We look forward to evaluating future growth opportunities. It's a big win for Northeastern Pennsylvania."
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