Fidelity D & D Bancorp reports Q1 EPS $1.24 vs. $1.32 last year

The Company’s total assets grew to $2.4 billion as of March 31, 2023, an increase of $65 million from December 31, 2022.The Company remains well capitalized with Tier 1 capital at 8.92% of total average assets as of March 31, 2023. Total risk-based capital was 14.59% of risk-weighted assets and Tier 1 risk-based capital was 13.42% of risk-weighted assets as of March 31, 2023. Tangible book value per share was $27.33 at March 31, 2023 compared to $25.18 at December 31, 2022. Tangible common equity was 6.39% of total assets at March 31, 2023 compared to 6.01% at December 31, 2022. "The first quarter results continue to be positive and reflect the strength and stability of Fidelity Bank. During the first quarter, despite the market disruption in March, the bank increased its capital position, grew loans, and maintained strong credit quality, while at the same time effectively managing expenses." stated Daniel Santaniello, President and CEO. "Fidelity Bank’s strong balance sheet positions the company well to continue growing through a well-executed strategic plan that focuses on building relationships and delivering value to clients."