|Over a week ago|
Fidelity D & D Bancorp reports Q1 EPS $1.13 vs. 69c last year » 08:2604/2804/28/21
During the first quarter…
During the first quarter of 2021, the Company's total assets increased $213.6 million, or 13%, to $1.9 billion at March 31, 2021 from $1.7 billion at December 31, 2020. During the same time period, total liabilities increased $216.7 million, or 14%, from $1.5 billion to $1.7 billion. The Company remains well capitalized and is positioned for continued growth with Tier 1 capital at 8.72% of total average assets as of March 31, 2021. Tangible book value per share was $31.00 at March 31, 2021 compared to $31.72 at December 31, 2020. "The first quarter financial results continue to be strong, setting the stage for a successful 2021 as we prepare for the successful integration of Landmark Bank during the third quarter of 2021," stated Daniel Santaniello, President and CEO. "During the first quarter, we accomplished record net income through a well-executed strategic plan that focuses on building relationships and delivering value to our clients. With strong asset quality and capital, the Company is positioned to navigate through the current economic uncertainties. The key metrics of credit, capital, and liquidity are at record levels."
|Over a month ago|
Fidelity D & D Bancorp to acquire Landmark Bancorp in $43.4M transaction » 08:0802/2602/26/21
Fidelity D & D…
Fidelity D & D Bancorp (FDBC) announced today the execution of a definitive agreement whereby Landmark Bancorp will be merged with and into a Fidelity acquisition subsidiary and, as soon as possible thereafter, Landmark Community Bank, Landmark's wholly-owned subsidiary bank, will merge with and into Fidelity Bank. One director from Landmark will join the boards of Fidelity and Fidelity Bank, respectively. Based on the financial results as of December 31, 2020, the combined company would have pro forma total assets of approximately $2.05 billion, total deposits of approximately $1.8 billion, and loans of approximately $1.4 billion. Once the merger is complete, Fidelity will have 25 retail community banking offices in Northeast and Eastern Pennsylvania, offering a complete range of consumer and business products, including wealth management. Its Customer Care Center is open 7 days a week for the convenience of its clients. Additionally, Fidelity Bank offers the ability for its clients to apply for consumer deposits, real estate loans, and personal loans through its robust online application processes. Landmark shareholders will receive 0.272 shares of Fidelity common stock and $3.26 in cash for each share of Landmark common stock that they own as of the closing date. Based on Fidelity's 10-day average closing price at February 25, 2021 of $55.00, the transaction is valued at $43.4 million or $18.22 per share. The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes. s of December 31, 2020, Landmark had total assets of $354 million, total deposits of $287 million and total loans of $280 million. The transaction has been unanimously approved by the boards of directors of both companies. It is subject to Landmark shareholder approval, regulatory approvals and other customary closing conditions. Currently, the transaction is expected to close early in the third quarter of 2021.
|Over a quarter ago|
Fidelity D & D Bancorp reports Q4 EPS $1.03 vs. 71c last year » 09:1301/2701/27/21
"Fidelity Bank is…
"Fidelity Bank is very pleased with the 2020 financial results during the many challenges of the pandemic. We have achieved record results and increased our already strong capital position. During the year we successfully executed the acquisition of MNB Corporation," stated Daniel J. Santaniello, President and Chief Executive Officer. "During the second half of 2020, the benefits of the MNB Corporation merger and acquisition were realized. The continued growth in loans, deposits, and non-interest income, while effectively managing expenses, reflects the Fidelity Bankers' commitment to building relationships and partnering with our clients to achieve mutual financial success."
Fidelity D & D Bancorp reports Q3 EPS 99c vs. 80c last year » 09:3010/2810/28/20
Shareholders' equity increased $54.8 million, or 51%, to $161.6 million at September 30, 2020 from $106.8 million at December 31, 2019. The increase was primarily caused by $45.4 million in common stock issued as a result of the merger. Net income of $7.9 million and a $4.2 million, after tax, improvement in net unrealized gains from the investment portfolio also contributed to the increase. An additional $1.2 million recorded from the issuance of common stock under the Company's stock plans and stock-based compensation, was offset by $3.9 million in cash dividends paid to shareholders. The Company remains well capitalized and is positioned for continued growth with total shareholders' equity at 9.45% of total assets at September 30, 2020. Tangible book value per share was $30.68 at September 30, 2020 compared to $28.20 at December 31, 2019. "We are very pleased that third quarter financial results posted record quarterly net income and earnings per share," stated Daniel Santaniello, President and CEO. "During the third quarter, the benefits of the MNB Corporation merger and acquisition are starting to be realized. The continued growth in loans, deposits, and non-interest income, while effectively managing expenses, reflect the Fidelity Bankers' commitment to building relationships and partnering with our clients to achieve mutual financial success."
Fidelity D & D Bancorp raises quarterly dividend 7% to 30c per share » 09:2810/2810/28/20
The Board of Directors of…
The Board of Directors of Fidelity D & D Bancorp announced their declaration of the Company's fourth quarter dividend of $0.30 per share, a 7% increase above the prior quarterly cash dividend of $0.28 per share. The dividend is payable December 10, 2020 to shareholders of record at the close of business on November 20, 2020.