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Fidelity D & D Bancorp, Inc. reports news as the bank holding company for The Fidelity Deposit and Discount Bank, a Pennsylvania community bank serving Lackawanna, Luzerne, Northampton and Lehigh Counties. Company updates center on consolidated financial results, net interest income, credit-loss provisioning, loan growth, deposit trends, asset quality and commercial lending activity.
Recurring announcements also cover quarterly cash dividends, board and executive appointments, risk-management and lending leadership, wealth management offices, full-service community banking locations and digital banking services through online banking, digital account opening and the Fidelity Mobile Banking app.
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.
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.