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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) reported a net income of $7.0 million for the first quarter of 2023, down 6% from $7.5 million in Q1 2022. Diluted earnings per share also fell 6% to $1.24, attributed to a decline in net interest income and increased non-interest expenses. Net interest income decreased to $17.0 million, primarily due to a 99 basis point rise in interest expense. The company’s total assets grew to $2.4 billion, reflecting a $65 million increase since December 2022. Shareholder equity increased 8% to $175.9 million. Non-performing assets rose to $3.4 million, a 0.14% ratio of total assets. The bank maintains a solid capital position with Tier 1 capital at 8.92%.
The Board of Directors of Fidelity D & D Bancorp has declared a second quarter dividend of $0.36 per share, payable on June 9, 2023 to shareholders on record as of May 19, 2023. This announcement underscores the company's ongoing commitment to returning value to its shareholders. Fidelity D & D Bancorp, operating through The Fidelity Deposit and Discount Bank, offers comprehensive banking services across several counties in Pennsylvania, including digital services through its Online Banking and Mobile Banking app. The firm continues to adapt to changing market conditions, as noted in their mention of potential risks impacting future results.
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) reported a net income of $30.0 million for the year ended December 31, 2022, a 25% increase from $24.0 million in 2021, leading to a diluted earnings per share of $5.29. This growth was driven by a $10.5 million rise in net interest income, despite $1.6 million lower non-interest income and higher expenses. The quarter showed a decline in net income to $7.1 million, primarily due to increased tax provisions and non-interest expenses. Total assets decreased to $2.4 billion, while total liabilities rose. The company remains well-capitalized with a Tier 1 capital ratio of 8.69%.
The Board of Directors of Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) declared a first-quarter dividend of $0.36 per share, marking a 9% increase from last year’s $0.33. This dividend is set for payment on March 10, 2023, to shareholders on record as of February 17, 2023. Fidelity D & D Bancorp operates through The Fidelity Deposit and Discount Bank, which has 21 community banking offices across several counties, and also offers digital banking services.
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