Welcome to our dedicated page for Fidelity Dam news (Ticker: FDBC), a resource for investors and traders seeking the latest updates and insights on Fidelity Dam stock.
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC), the parent of The Fidelity Deposit and Discount Bank, regularly releases news that covers its financial performance, governance developments, and community banking activities in Pennsylvania. As a commercial banking company with a focus on community banking, wealth management, and trust services, its announcements provide insight into how the organization manages growth, risk, and service to its regional markets.
News items for FDBC frequently include quarterly and annual financial results, where the company reports net income, net interest income, non‑interest income, expenses, asset quality metrics, and capital ratios. These releases often discuss trends in loans and leases, deposits, investment securities, and shareholders’ equity, as well as the impact of relationship‑based deposit strategies and loan portfolio expansion.
Investors and followers of FDBC can also expect updates on dividend declarations, such as announcements of quarterly cash dividends and commentary on the company’s history of raising dividends over multiple years. Governance‑related news includes the appointment and retirement of directors, changes in executive roles, and the hiring of key leaders such as the Chief Risk Officer, along with descriptions of their responsibilities and committee assignments.
Additional coverage highlights the bank’s risk management initiatives, including enhancements to its enterprise risk management framework and the reassignment of credit‑related departments under the Chief Risk Officer. The company’s news releases also reiterate its community focus, referencing volunteer efforts and donations to non‑profit organizations in its markets, as well as its network of full‑service offices and digital banking capabilities. For anyone tracking FDBC, this news page offers an organized view of the company’s earnings, capital position, leadership changes, and strategic priorities over time.
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.
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.