Dunmore-based FNCB Wealth Management Services, the investment arm of FNCB Bank, and Forty Fort-based Chiaro Investment Services (CIS) recently entered into an asset purchase agreement.
Once completed, FNCB Wealth Management Services will operate under the brand 1st Investment Services.
The deal combines FNCB Bank’s resources and products with CIS’ financial planning and tailored investment strategies. It allows the companies to grow throughout Pennsylvania and expand nationally.
1st Investment Services will provide clients with brokerage services, insurance planning, investment management, retirement services, and other offerings. It will have clients in 26 states.
“We are extremely pleased to welcome Chiaro Investment Services’ associates and clients to the FNCB family,” FNCB Bank President and CEO Gerard Champi said. “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 leads CIS. He will be appointed 1st Investment Services chief investment services officer and executive vice president.
Once the transaction closes, 1st Investment Services will do business in two locations: 124 South Blakely St. in Dunmore and 1625 Wyoming Ave. in Exeter.
FNCB Bancorp is the bank holding company of FNCB Bank. FNCB operates in Lackawanna, Luzerne, and Wayne counties.