(Dunmore, PA) - October 13, 2011 - First National Community Bancorp, Inc., (OTC Markets Group, Inc.: FNCB.PK) the parent company of Dunmore-based First National Community Bank, today announced the establishment of a $5 million loan fund (‘Flood Disaster Relief
Program’) to assist residents and businesses in local communities that were affected by the recent flooding devastation.
The Flood Disaster Relief Program will assist individual customers, as well as local business owners, by providing special loans at reduced rates to those affected by the flooding. Personal unsecured loans up to $10,000 will be made available with terms of up to 60 months.
Residential mortgages will be available at terms of up to 20 years.
Similarly, business customers will be eligible to receive 7-year term loans at a fixed annual percentage rate of 4.25%, or 20-year commercial mortgages at a fixed annual percentage rate of 4.99%, with interest only payments for six months, and principal and interest thereafter.
“FNCB is pleased to be in a position to support our customers as they work to rebuild their lives from the destruction of the recent floods,” said Jerry A. Champi, Chief Operating Officer, First National Community Bank. “The people of our community are resilient and hardworking; they will come back from this, just as they did following the ’72 floods. We want to provide the types of affordable, accessible loans that will help them recover swiftly and move forward.”
In addition to creating the Flood Disaster Relief Program, FNCB recently announced a $10,000 gift to aid local Salvation Army flood relief efforts. The $10,000 donation stems from “I’m Part of the Valley With a Heart 2011” t-shirt campaign that was designed by FNCB and sold by each of its 21 branches located in Luzerne, Lackawanna, Wayne and Monroe counties. All proceeds from the sale are going directly to support the Salvation Army.
For more information about the Flood Disaster Relief Program, please call 1-877-879-3622.
About First National Community Bank
First National Community Bancorp, Inc. is the financial holding company of First National Community Bank, which provides personal, small business and commercial banking services to individuals and businesses throughout Lackawanna, Luzerne, Monroe and Wayne Counties in Northeastern Pennsylvania, The institution was established as a National Banking Association in 1910 as The First National Bank of Dunmore, and has been operating under its current name since 1988. For more information about FNCB, visit www.fncb.com.