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 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.
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.