8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC  20549

_________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported)                                                                           February 17, 2010

First National Community Bancorp, Inc.

(Exact Name of Registrant as Specified in Charter)

Pennsylvania	000-53869	23-2900790
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

102 E. Drinker St. Dunmore, PA 18512

(Address of Principal Executive Offices

(570) 346-7667

(Registrant’s telephone number, including area code)

_____________________________________

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02                                RESULTS OF OPERATIONS AND FINANCIAL CONDITION

(a) Press release dated February 17, 2010, regarding 2009 earnings, filed as exhibit attached.

Item 9.01                                FINANCIAL STATEMENTS AND EXHIBITS

(c)           On February 17, 2010, the Registrant issued the attached press release.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	First National Community Bancorp, Inc.
	(Registrant)
Date: February 17, 2010	/s/ William S. Lance
	William S. Lance
	Treasurer and
	Principal Financial Officer

EX-99

FNCB RELEASES 2009 RESULTS

First National Community Bancorp, Inc., the parent company of Dunmore based First National Community Bank, reported a net loss for the year of 2009 totaling $11.3 million. The deterioration in general economic conditions and declining real estate values severely impacted borrowers’ ability to make scheduled payments on their loans, resulting in the company allocating almost $32 million of earnings to replenish the reserve for credit losses and to strengthen its ability to absorb future losses.  Also contributing to the 2009 results were credit losses incurred on investment securities totaling $6.2 million, and a $5.4 million increase in operating expenses which includes a $2 million increase in FDIC insurance premiums.  Net interest income before the provision for credit loss decreased 2% from the 2008 total due to a decrease in loans outstanding.

During 2009, the company was successful in raising over $23 million of new capital through a subordinated debt offering.  At year-end, the Bank’s risk-based capital ratios exceeded the current “well-capitalized” regulatory requirements with a Total Risk Based Capital ratio of 11.82%, a Tier I Capital ratio of 10.56%, and a Tier I Leverage ratio of 9.09%.

Total assets increased $82 million during 2009 due to significant growth in deposits, while net loans decreased $29 million as the company tightened credit standards in order to maintain required capital levels.  Cash dividends were reduced from 46 cents per share to 17 cents per share to conserve capital and maintain regulatory requirements.

FNCB currently operates from twenty-one community offices located throughout the Lackawanna, Luzerne, Wayne, and Monroe County markets.  The company’s newest office, located on Wheeler Avenue in Dunmore, opened in December 2009.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various risks, uncertainties and other factors.  Such risks, uncertainties and other factors that could cause actual results and experience to differ include, but are not limited to, the following: the strategic initiatives and business plans may not be satisfactorily completed or executed, if at all; increased demand or prices for the Corporation’s financial services and products may not occur; changing economic and competitive conditions; technological developments; the effectiveness of the Corporation’s business strategy due to changes in current or future market conditions; effects of deterioration of economic conditions on customers specifically the effect on loan customers to repay loans; inability of the Corporation to raise or achieve desired or required levels of capital; the effects of competition, and of changes in laws and regulations, including industry consolidation and development of competing financial products and services; interest rate movements; relationships with customers and employees; challenges in establishing and maintaining operations; volatilities in the securities markets; and deteriorating economic conditions and other risks and uncertainties, including those detailed in the Corporation’s filings with the Securities and Exchange Commission.