Fidelity Dam Stock Price, News & Analysis

Fidelity Bank announced a contribution of over $1.054 million in Pennsylvania Educational Improvement Tax Credit (EITC) funds to various non-profit organizations and educational institutions. This funding, which is nearly double compared to 2019, will support 12 high schools in northeastern Pennsylvania, enabling students to earn college credits through Dual Enrollment programs. The initiative is aimed at assisting families facing economic challenges due to the COVID-19 pandemic and enhancing educational opportunities for local students.

Fidelity D & D Bancorp (FDBC) announced a dividend of $0.30 per share and reported a net income of $5.7 million, or $1.13 EPS, for Q1 2021, a significant increase from $2.6 million, or $0.69 EPS, in Q1 2020. The growth in net income stemmed from a $5.4 million rise in net interest income and a $2.8 million increase in non-interest income, despite a $4.2 million rise in non-interest expenses. The total assets increased by 13% to $1.9 billion, and the provision for loan losses rose to $0.8 million amid the economic impact of COVID-19. The company anticipates a successful integration of Landmark Bank later in 2021.

Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) announced a definitive agreement to merge with Landmark Bancorp, Inc. (OTCPink: LDKB). Landmark's wholly-owned subsidiary bank will also merge with Fidelity Bank. The merger, valued at $43.4 million, will provide Fidelity with total pro forma assets of approximately $2.05 billion and deposits of around $1.8 billion. Landmark shareholders will receive 0.272 shares of Fidelity common stock and $3.26 in cash per share. The deal awaits shareholder and regulatory approvals and is expected to finalize in early Q3 2021.

Fidelity D & D Bancorp, Inc. (FDBC) reported a strong financial performance for Q4 and 2020, highlighting a net income of $5.2 million for Q4 2020, achieving a 91% increase from Q4 2019. The diluted EPS rose to $1.03, up 45% year-over-year. Annual net income was $13.0 million, or $2.82 per share, slightly down from $3.03 in 2019. The company declared a $0.30 dividend per share, payable on March 10, 2021. Key growth drivers included a significant rise in net interest income and non-interest income, though non-interest expenses also increased due to merger costs. The firm remains well-capitalized with a solid Tier 1 capital ratio of 8.81%.

Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) recently announced a fourth quarter dividend of $0.30 per share, marking a 7% increase from the previous quarter. The company reported net income of $5.0 million for Q3 2020, a 63% rise year-over-year, with diluted earnings per share of $0.99. Total assets surged to $1.7 billion, driven by the merger with MNB Corporation. However, the nine-month net income decreased by 11% to $7.9 million due to rising non-interest expenses and loan loss provisions. Fidelity remains well-capitalized with a tangible book value per share of $30.68.

Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) reported a decrease in loan forbearance through the Client Assistance Program, assisting local businesses affected by COVID-19. As of September 30, 2020, only 2.2% of its total loan portfolio is under forbearance. Originally, 1,429 borrowers received forbearance totaling $201.8 million, which significantly declined to 212 borrowers totaling $25.1 million. CEO Daniel J. Santaniello emphasized the bank's strong partnerships with clients, illustrating resilience amid economic uncertainty.

Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) announced on September 15, 2020, the appointment of Alan Silverman, CPA, to its Board of Directors as a Class B Director until the 2023 Annual Meeting of Shareholders. He will also serve on the Board of Fidelity Deposit and Discount Bank. Silverman brings over 30 years of experience as a CPA and is known for his contributions to the healthcare sector. Fidelity Bank, a community bank with over 118 years of service, has been recognized for its financial performance and superior customer experience.

Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) declared a third-quarter dividend of $0.28 per share, payable September 10, 2020, to shareholders of record by August 20, 2020. For Q2 2020, net income dropped to $0.3 million ($0.05 EPS), down 92% from $3 million ($0.79 EPS) in Q2 2019, primarily due to $1.9 million in merger-related costs. The company's assets increased 78% to $1.8 billion due to the acquisition of MNB Corporation, adding significant deposits and loans. Despite challenges from COVID-19, management remains optimistic about long-term growth and shareholder value.

Fidelity D & D Bancorp (NASDAQ: FDBC) announced the retirement of Chairman Emeritus Patrick J. Dempsey, effective May 5, 2020. Dempsey served as a director since 1985 and chaired the board for 14 years. His leadership is credited with establishing the company’s governance structure. The board expressed gratitude for his 35 years of service. The press release also includes forward-looking statements addressing potential risks such as economic impacts from COVID-19, litigation costs, and regulatory changes that could affect the company's financial performance.