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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, 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.
Fidelity D & D Bancorp (NASDAQ: FDBC) reported a strong financial performance for Q3 2022, with net income rising to $7.7 million, or $1.36 EPS, a 58% increase from the previous year. The improved results stemmed from a $2.2 million decrease in non-interest expenses and a $1.3 million rise in net interest income, which reached $18.5 million, an 8% increase year-over-year. For the nine months ending September 30, 2022, net income totaled $22.9 million, a 41% increase, driven by growth in loans and net interest margin. However, total non-interest income decreased by 10%. The company remains well-capitalized with asset quality metrics intact.
The Board of Directors of Fidelity D & D Bancorp (NASDAQ: FDBC) has declared a fourth-quarter dividend of $0.36 per share, marking a 9% increase from the previous dividend of $0.33. This increase represents the eighth consecutive year of enhanced dividends, reflecting the company’s commitment to sustainable growth and shareholder value. The dividend is payable on December 9, 2022, to shareholders of record by November 18, 2022. The company attributes this decision to improved revenue levels and successful integration of recent acquisitions.
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) reported robust financial results for Q2 and the first half of 2022. Net income surged to $7.7 million, or $1.35 per diluted share, representing a 35% increase year-over-year. This growth was fueled by a $4.8 million rise in net interest income despite a $1.9 million hike in non-interest expenses. For the first half, net income reached $15.2 million, or $2.67 per share, a 34% uptick. The bank maintained strong asset quality, with non-performing assets at 0.20% of total assets, while total assets stood at $2.4 billion.
The Board of Directors of Fidelity D & D Bancorp (NASDAQ: FDBC) announced a third quarter dividend of $0.33 per share, payable on September 9, 2022, to shareholders of record by August 19, 2022.
Fidelity D & D Bancorp operates through The Fidelity Deposit and Discount Bank across Lackawanna, Luzerne, and Northampton Counties, providing community banking services and a digital banking experience.
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) announced a plan to repurchase up to 3% of its outstanding common stock, expressing confidence in this as an appealing opportunity for shareholders. The buyback will be funded by available excess capital and replaces all previously announced repurchase plans. This decision reflects the Board's belief in enhancing shareholder value and aligns with the company's commitment to utilizing resources effectively.
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) has announced the retirement of Richard J. Lettieri, a Board Director, effective May 3, 2022. Lettieri, who served on the board since 2012, played a vital role in the bank's strategic initiatives, including two acquisitions and the transition towards digital banking. The company's leadership expressed gratitude for his contributions. Fidelity Bank operates 22 full-service offices and offers various banking products, focusing on delivering exceptional customer service through both traditional and digital platforms.
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) reported record financial results for Q1 2022, achieving net income of $7.5 million or $1.32 per share, up 33% from $5.7 million in Q1 2021. Key drivers included a $3.8 million rise in net interest income, despite increased non-interest expenses. The company’s total assets remained stable at $2.4 billion, with a 29% increase in net interest income to $17.3 million. However, non-interest income fell by 17%, affected by declining mortgage activity. Strong asset quality supports future growth amid economic uncertainties.
Fidelity Bank has announced the purchase of the historic Scranton Electric Building in downtown Scranton, intending to establish its new corporate headquarters. President & CEO Daniel J. Santaniello highlighted that this move is essential due to the bank's rapid growth, which has seen a doubling of staff and a $1.8 billion increase in assets since 2011. The headquarters will create over 130 jobs and boost local economic activity, with a total project cost of around $20 million, partially funded by a $4 million state program.
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