FNCB Bank Added as Enrolled Member in
FHLBank Pittsburgh’s BOB and BOBIE Programs

March 14, 2023

FNCB Bank, locally based since 1910, today announced they have been added as an enrolled member in the FHLBank Pittsburgh’s Banking On Business (BOB) and Banking On Business Inclusion and Equity fund (BOBIE) programs.

BOB funding helps eligible small businesses that lack sufficient equity or collateral to meet lending standards. Funding is offered in the form of a secondary loan up to $200,000. BOB loans are made in conjunction with financing from an FHLBank Pittsburgh member, like FNCB Bank. On average, each $1 from BOB that FHLBank Pittsburgh contributes leverages $6 in financial resources to small businesses.

FHLBank has also established a set-aside of BOB funds for minority- and women-owned small businesses called BOBIE. BOBIE is intended to meet the needs of underrepresented small businesses by offering enhanced eligibility criteria than are otherwise available under BOB that are aimed to be more favorable to minority- and women-owned small business borrowers.

The 2023 funding round for the BOB product will open at 9 a.m. EDT on Wednesday, April 12, with $8 million available to assist qualified small businesses. FHLBank will set aside $3 million of the $8 million BOB allocation for BOBIE. FHLBank Pittsburgh members, such as FNCB Bank can apply for BOB and BOBIE funds on behalf of their borrowers during open funding rounds. BOB and BOBIE funding is offered on a first-come, first-served basis.

For more information on BOB or BOBIE, please contact James Burke at (570) 348-4811 or JamesF.Burke@fncb.com. Additional information can be found at https://www.fhlb-pgh.com/files/resources/BOB-Brochure---Non-Member.pdf.

About FNCB Bank
FNCB Bank, Voted Best Bank, Best Place to Work and a Top 200 Community Bank in America, continues as one of Northeastern Pennsylvania's premier community banks — offering a full suite of personal, small business, mortgage and commercial banking solutions with industry-leading mobile, online and in-branch products and services. FNCB remains dedicated to the communities they serve with an on-going mission to make your banking experience simply better. For more information about Bauer 5-star rated FNCB Bank, visit www.fncb.com.