Fidelity D & D Bancorp reports Q3 EPS 93c vs $1.36 last year

The Company’s total assets grew to $2.5 billion as of September 30, 2023, an increase of $98 million from $2.4 billion as of December 31, 2022. Growth in the loan portfolio of $80 million and $81 million of cash and cash equivalents was partially offset by a reduction of the investment portfolio of $67 million. “Despite the challenging operating environment, the bank produced strong loan growth, grew non-interest income, maintained excellent asset quality, and controlled expenses.” stated Daniel J. Santaniello, President and Chief Executive Officer. “While the rising costs of deposits and borrowed funds resulted in decreased earnings from a year ago, we remain focused on executing our strategic plan and leveraging the strength of the balance sheet to continue to serve our clients. Fidelity Bank is well positioned for the future and committed to our clients and the communities we serve.”