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About Fidelity D & D Bancorp, Inc. (FDBC)
Fidelity D & D Bancorp, Inc. (FDBC) is a bank holding company headquartered in northeastern Pennsylvania. Through its wholly-owned subsidiary, The Fidelity Deposit and Discount Bank, the company provides a comprehensive range of traditional banking services, wealth management solutions, and alternative financial products. With a history spanning over 110 years, Fidelity Bank has established itself as a trusted financial partner for individuals, families, and businesses in its primary markets of Lackawanna, Luzerne, Northampton, and Lehigh Counties.
Business Model and Revenue Streams
Fidelity D & D Bancorp generates revenue primarily through interest income from loans and leases, fees from deposit accounts, and trust and investment management services. Its diversified portfolio includes personal and business banking products such as demand deposits, money market accounts, savings accounts, and certificates of deposit. Additionally, the company offers a variety of loan products tailored to retail and commercial customers, including mortgages, commercial loans, and lines of credit. Fidelity Bank’s trust and investment division provides asset management and financial planning services, further diversifying its income streams.
Market Presence and Competitive Landscape
Operating 21 full-service branches and a dedicated wealth management office, Fidelity Bank serves as a regional banking leader in northeastern Pennsylvania. The company’s primary market areas include Lackawanna, Luzerne, Northampton, and Lehigh Counties, where it competes with both community banks and larger national financial institutions. Fidelity Bank differentiates itself through its customer-centric approach, emphasizing personalized financial advisory services and a strong commitment to community engagement. This is exemplified by its status as an SBA Preferred Lender and its active role in supporting local non-profit organizations.
Product and Service Offerings
Fidelity Bank offers a robust suite of financial products and services designed to meet the diverse needs of its customers. These include:
- Personal Banking: Checking and savings accounts, money market accounts, and mortgage loans.
- Business Banking: Commercial loans, lines of credit, cash management services, and merchant services.
- Wealth Management: Trust and estate planning, investment management, and financial advisory services.
- Digital Banking: Online and mobile banking platforms providing 24/7 account access and transaction capabilities.
The company also offers alternative financial products and insurance solutions, catering to a wide range of financial planning needs.
Commitment to Community and Customer Experience
Fidelity Bank’s mission is rooted in exceeding customer expectations through personalized service and innovative solutions. Its team of dedicated bankers acts as trusted financial advisors, helping clients navigate complex financial decisions. The company’s community-oriented philosophy is reflected in its extensive volunteer efforts and financial contributions to local non-profits. This commitment to social responsibility strengthens its reputation as a reliable and ethical financial institution.
Operational Strengths and Challenges
Fidelity D & D Bancorp’s operational strengths include its diversified revenue streams, strong regional presence, and focus on customer relationships. However, like many financial institutions, it faces challenges such as interest rate volatility, regulatory compliance, and competition from both traditional banks and fintech companies. Despite these challenges, the company’s prudent balance sheet management and strategic investments in technology position it well to adapt to changing market conditions.
Regulatory Compliance and Financial Stability
As a member of the Federal Deposit Insurance Corporation (FDIC) and an Equal Housing Lender, Fidelity Bank adheres to stringent regulatory standards. The company maintains a strong capital position, with Tier 1 capital ratios exceeding regulatory requirements. Its focus on asset quality and risk management ensures financial stability, providing confidence to its customers and shareholders alike.
Conclusion
Fidelity D & D Bancorp, Inc. stands out as a resilient and customer-focused financial institution with a long-standing history of serving its community. Its diversified product offerings, commitment to personalized service, and strong regional presence make it a key player in northeastern Pennsylvania’s banking landscape. By balancing traditional banking values with modern financial solutions, Fidelity Bank continues to deliver value to its customers, employees, and shareholders.
The Board of Directors of Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) has declared a second quarter dividend of $0.33 per share, payable on June 10, 2022, to shareholders of record at the close of business on May 20, 2022. The company operates through 22 community banking offices across Lackawanna, Luzerne, and Northampton Counties and offers a digital banking experience. This dividend reflects the company’s ongoing commitment to return value to its shareholders.
The Board of Directors of Fidelity D & D Bancorp has declared a second quarter dividend of $0.33 per share, scheduled for payment on June 10, 2022. Shareholders of record as of May 20, 2022 will be eligible. Fidelity D & D Bancorp operates 23 community banking offices in Lackawanna, Luzerne, and Northampton Counties, and offers digital banking services through its online platform and mobile app. For further investor information, visit www.bankatfidelity.com.
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) reported record financial results for 2021, with net income of $24 million, a 84% increase year-over-year. The diluted earnings per share rose to $4.48, up from $2.82. Significant growth in net interest income to $61.8 million, a 40% increase, and a reduction in provision for loan losses contributed to this performance. The acquisition of Landmark Bancorp bolstered the bank's assets by $375.5 million. Total assets were $2.4 billion, reflecting a 42% increase, while total liabilities rose by 44%. Shareholders' equity also increased by 27%.
The Board of Directors of Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) has announced a 10% increase in its first quarter dividend to $0.33 per share, up from $0.30 from the previous year. This dividend is payable on March 10, 2022, to shareholders of record by February 17, 2022. Fidelity D & D Bancorp operates in Lackawanna, Luzerne, and Northampton Counties through its bank offerings that include 23 full-service community banking offices and digital services.
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) reported its financial results for Q3 2021, showing a net income of $4.9 million, down 2% from $5.0 million in Q3 2020. Diluted earnings per share (EPS) decreased to $0.85 from $0.99. This decline resulted from a $5.7 million rise in non-interest expenses, primarily due to merger-related costs of $2.2 million. Net interest income rose 37% to $17.2 million driven by increased interest-earning assets. The company remains well-capitalized with a Tier 1 capital ratio of 7.99% and reported a 23% increase in shareholders’ equity year-to-date.
The Board of Directors of Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) has declared a fourth quarter dividend of $0.33 per share, marking a 10% increase from the previous $0.30 dividend. This increase, the seventh consecutive year, reflects the company’s commitment to enhancing shareholder value while investing in profitable growth opportunities. The dividend is payable on December 10, 2021, to shareholders of record by November 19, 2021. The company operates 23 community banking offices across Lackawanna, Luzerne, and Northampton Counties.
DUNMORE, Pa., Sept. 03, 2021 (GLOBE NEWSWIRE) -- Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) announces the retirement of Mary E. McDonald as a Director, effective today. McDonald served on the Board since 2000, contributing valuable insights during her tenure. CEO Daniel J. Santaniello expressed gratitude for her service, noting her instrumental role in the organization's growth. The release also includes forward-looking statements highlighting risks such as economic conditions due to COVID-19 and regulatory changes that may affect future performance.
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) announced a quarterly dividend of $0.30 per share. For Q2 2021, net income reached $5.7 million ($1.13 EPS), a significant increase from $0.3 million ($0.05 EPS) in Q2 2020, driven by higher net interest income and lower provisions for loan losses. Year-to-date, net interest income rose 42% to $26.8 million. The acquisition of Landmark Bancorp contributed to asset growth, bringing total assets to approximately $2.3 billion. However, non-interest expenses increased by 20% year-over-year to $22.3 million.
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) has successfully completed the acquisition of Landmark Bancorp, Inc. as of July 1, 2021. Under the agreement, Landmark shareholders received 0.272 shares of Fidelity common stock and $3.26 in cash for each share they owned, totaling approximately 650,813 shares and $7.8 million in cash issued by Fidelity. This consolidation increases Fidelity's assets to approximately $2.3 billion, enhancing its market position in Luzerne County. Fidelity aims to better serve clients and strengthen its community bank presence.
Fidelity D & D Bancorp, Inc. has announced the approval of its acquisition of Landmark Bancorp, Inc. by its shareholders, with over 77% voting in favor. All necessary regulatory approvals for this acquisition have been received, permitting the merger of Landmark with Fidelity's subsidiary and Landmark Community Bank with Fidelity Bank. The merger is projected to be finalized on July 1, 2021, subject to standard closing conditions. This strategic move aims to enhance Fidelity's market presence and service offerings in Pennsylvania.
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