Note 9 - Related Party Transactions

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note 9.  Related Party Transactions

In conducting its business, FNCB has engaged in, and intends to continue to engage in, banking and financial transactions with directors, executive officers and their related parties.

FNCB has granted loans, letters of credit and lines of credit to directors, executive officers and their related parties. The following table summarizes the changes in the total amounts of such outstanding loans, advances under lines of credit, net of any participations sold, as well as repayments during the three months ended March 31, 2023 and 2022.

	Three Months Ended March 31,
(in thousands)	2023			2022
Balance, beginning of period	$	79,144		$	71,437
Additions, new loans and advances		49,657			15,362
Repayments		(39,638	)		(10,009	)
Balance, end of period	$	89,163		$	76,790

At March 31, 2023 and December 31, 2022, there were no loans to directors, executive officers and their related parties that were not performing in accordance with the original terms of the loan agreements.

Deposits from directors, executive officers and their related parties held by the Bank at March 31, 2023 and  December 31, 2022 amounted to $127.9 million and $133.0 million, respectively. Interest paid on the deposits amounted to $452 thousand and $37 thousand for the three months ended March 31, 2023 and 2022, respectively.

In the course of its operations, FNCB acquires goods and services from, and transacts business with, various companies of related parties, which include, but are not limited to, fidelity bond, errors and omissions and commercial package insurance, legal services, and rent. FNCB recorded payments to related parties for goods and services of $37 thousand and $90 thousand for the three months ended March 31, 2023 and 2022, respectively.