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Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) is a reputable bank holding company with over 110 years of history, renowned for its customer-focused approach. Through its wholly-owned subsidiary, The Fidelity Deposit and Discount Bank, Fidelity D & D Bancorp, Inc. offers a comprehensive range of traditional banking services. Headquartered in northeastern Pennsylvania, Fidelity Bank operates 21 full-service community banking offices across Lackawanna, Luzerne, Lehigh, and Northampton Counties, as well as a wealth management office in Schuylkill County.
Fidelity Bank provides clients with 24/7 access to banking services through online banking, a mobile app, and a dedicated mortgage center. The bank offers various deposit products such as demand deposits, money market accounts, and savings accounts. It also extends an array of loan products that cater to both retail and commercial customers.
In addition to traditional banking, Fidelity Bank houses a corporate trust department and provides alternative financial and insurance products, along with asset management services. The bank’s strategic focus is on relationship banking, which has helped attract new retail and business households, ensuring sustained growth even in challenging economic environments.
Despite a recent drop in net income due to increased interest expenses, the bank has maintained strong loan growth, excellent asset quality, and controlled expenses. For the year ended December 31, 2023, Fidelity D & D Bancorp, Inc. reported a net income of $18.2 million, a decrease from the previous year, attributed primarily to higher interest costs and lower non-interest income. However, the bank’s strategic initiatives and strong capital position set the stage for future growth.
Fidelity Bank’s commitment to community service is evident through its volunteer efforts and substantial donations to non-profit organizations. The bank’s deposits are insured by the Federal Deposit Insurance Corporation (FDIC), and it is an Equal Housing Lender and SBA Preferred Lender.
For more information, please visit the investor relations section on their website at www.bankatfidelity.com. Stay updated with the latest news and developments about Fidelity D & D Bancorp, Inc. through their regularly published financial reports and press releases.
Fidelity D & D Bancorp (NASDAQ: FDBC) has announced a 5% increase in its fourth quarter dividend to $0.40 per share, up from the previous $0.38 per share. This marks the company's tenth consecutive year of dividend increases, with the dividend more than doubling over this period. The dividend will be payable on December 10, 2024, to shareholders of record as of November 15, 2024. The bank operates 21 full-service community banking offices across Lackawanna, Luzerne, and Northampton Counties, plus a wealth management office in Schuylkill County.
Fidelity D & D Bancorp (NASDAQ: FDBC) reported Q3 2024 net income of $5.0 million ($0.86 per diluted share), down from $5.3 million ($0.93 per share) in Q3 2023. Net interest income increased 5% to $15.4 million, while non-interest income grew 15% to $5.0 million. The company experienced strong balance sheet growth with total assets reaching $2.6 billion, showing increases in loans and deposits. However, non-interest expenses rose by $1.0 million to $13.8 million, primarily due to higher salaries and benefits. The bank maintains strong capital levels with a total risk-based capital ratio of 14.56% and tangible book value per share of $32.55.
Fidelity D & D Bancorp (NASDAQ: FDBC) reported its Q2 2024 financial results. Net income for the quarter was $4.9 million, or $0.86 diluted earnings per share, down from $5.4 million, or $0.94 per share, in Q2 2023. The decline was primarily due to a $0.4 million decrease in net interest income. For the first half of 2024, net income was $10.0 million, or $1.73 per share, compared to $12.4 million, or $2.18 per share, in H1 2023.
The company's total assets stood at $2.5 billion as of June 30, 2024. The loan portfolio grew by $42 million in H1 2024, while deposits increased by $10.7 million. Asset quality metrics showed slight deterioration, with non-performing assets at 0.28% of total assets, up from 0.13% at the end of 2023.
Fidelity D & D Bancorp (NASDAQ: FDBC), parent company of The Fidelity Deposit and Discount Bank, has declared its third quarter dividend of $0.38 per share. The dividend will be payable on September 10, 2024, to shareholders of record as of August 20, 2024. Fidelity D & D Bancorp serves Lackawanna, Luzerne, and Northampton Counties through 21 full-service community banking offices, with an additional wealth management office in Schuylkill County. The bank offers digital and virtual services, including online banking and mobile app capabilities.
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