FIDELITY D & D BANCORP INC SEC 10-Q Report

Fidelity D & D Bancorp Inc., a prominent financial institution operating primarily in Pennsylvania, has released its latest Form 10-Q report, showcasing robust financial and operational performance for the first quarter of 2025. The report highlights significant growth in key financial metrics and outlines strategic business initiatives aimed at sustaining this momentum.

Financial Highlights

• Total Interest Income: $28.3 million, reflecting an increase from the previous year due to higher interest rates and loan growth.
• Net Interest Income: $17.0 million, up from $14.9 million in the prior year, driven by increased interest income from loans and leases.
• Net Income: $5.991 million, an improvement from $5.057 million in the previous year, indicating strong financial performance.
• Net Income - Basic: $1.04 per share, compared to $0.88 per share in the previous year, showing enhanced profitability per share.
• Net Income - Diluted: $1.03 per share, up from $0.88 per share in the prior year, reflecting improved earnings performance.
• Total Other Income: $4.973 million, an increase from $4.572 million, driven by higher service charges and fees.
• Total Other Expenses: $14.554 million, up from $13.689 million, primarily due to increased salaries and employee benefits.
• Provision for Income Taxes: $1.091 million, compared to $694 thousand in the previous year, reflecting higher taxable income.

Business Highlights

• Revenue Segments: The company reported revenue from various segments including commercial and industrial loans, commercial real estate, and consumer loans. The commercial real estate segment is further divided into non-owner occupied and owner occupied categories.
• Geographical Performance: The company operates primarily in Pennsylvania, with branches in Lackawanna, Northampton, and Luzerne Counties, and Wealth Management offices in Schuylkill and Lebanon Counties. The performance in these regions is crucial to the company's overall operations.
• Sales Units: The company services real estate loans for investors in the secondary mortgage market, with an unpaid principal balance of $498.0 million as of March 31, 2025.
• New Product Launches: During the first quarter of 2025, the company approved a Long-Term Incentive Plan (LTIP) and awarded restricted stock to senior officers and managers based on 2024 performance.
• Future Outlook: Management continues to evaluate the credit quality of the loan portfolio and expects to maintain a robust allowance for credit losses. The company is also focused on expanding its market presence and enhancing customer service through its branch network.

SEC Filing: FIDELITY D & D BANCORP INC [ FDBC ] - 10-Q - May. 09, 2025