Fidelity D & D Bancorp, Inc. (FDBC): history, ownership, mission, how it works & makes money

A Brief History of Fidelity D & D Bancorp, Inc. (FDBC)

Founding and Early Years

Fidelity D & D Bancorp, Inc. (FDBC) was established in 1903, originally as a community bank in Dunmore, Pennsylvania. Over the decades, it has adapted to the evolving financial landscape while maintaining its local focus. As of 2022, the bank operated 18 branches across northeastern Pennsylvania.

Growth and Expansion

The company's trajectory saw significant growth through mergers and acquisitions. In 2009, Fidelity D & D Bancorp acquired the Fidelity Deposit and Discount Bank, expanding its service offerings and customer base. This strategic move was followed by the opening of several new branches, which enhanced its regional footprint.

Financial Performance

Fidelity D & D Bancorp has shown resilience in its financial performance. As of December 31, 2022, the bank reported total assets of approximately $1.4 billion. The bank's net income for the fiscal year 2022 was around $9.4 million, reflecting a modest growth over the previous year's $8.8 million.

Current Operations and Services

Fidelity D & D Bancorp offers a range of financial products and services, including personal banking, commercial banking, and wealth management. The bank’s loan portfolio stood at $950 million as of 2022, with an impressive growth in residential mortgages.

Community Involvement

Fidelity D & D Bancorp emphasizes community involvement, with a commitment to charitable contributions. In 2022, the bank donated over $350,000 to local organizations and initiatives, supporting education, healthcare, and economic development.

Technological Advancements

In response to technological changes, Fidelity D & D Bancorp has invested significantly in digital banking capabilities. As of 2022, online banking users exceeded 30,000, showcasing the bank's commitment to modernizing banking experiences.

Regulatory Compliance

Fidelity D & D Bancorp adheres to stringent regulatory standards set forth by the FDIC and the Federal Reserve. The bank maintained a total risk-based capital ratio of 12.5% as of the end of 2022, well above the required minimum.

Market Position

The bank continues to compete effectively within the region, with a market share of approximately 10% in the local deposits sector. This positioning allows FDBC to remain a prominent financial institution in northeastern Pennsylvania.

A Who Owns Fidelity D & D Bancorp, Inc. (FDBC)

Overview of Ownership

Fidelity D & D Bancorp, Inc. (FDBC) is publicly traded on the NASDAQ under the ticker symbol FDBC. The ownership structure consists of various institutional and individual shareholders.

Shareholder Composition

As of the latest data available, the ownership breakdown of Fidelity D & D Bancorp, Inc. is as follows:

Major Institutional Shareholders

The following table outlines the major institutional shareholders of Fidelity D & D Bancorp, Inc., along with their respective ownership stakes:

Insider Ownership

Insider ownership plays a critical role in the governance of Fidelity D & D Bancorp, Inc. The breakdown of insider ownership is as follows:

Recent Market Performance

The market performance of Fidelity D & D Bancorp, Inc. is indicative of its ownership dynamics. The current stock price is approximately $25.60, with a market capitalization of about $165 million, based on the latest share count.

Recent Financial Highlights

The latest financial statements reveal the following key figures:

Fidelity D & D Bancorp, Inc. (FDBC) Mission Statement

Overview of the Mission Statement

The mission of Fidelity D & D Bancorp, Inc. is to serve its clients with a commitment to high-quality service, integrity, and professionalism. The company aims to foster strong and lasting relationships while delivering financial solutions tailored to meet the unique needs of each customer.

Core Values

• Integrity: Upholding ethical standards in all interactions.
• Customer Commitment: Prioritizing the needs and expectations of clients.
• Community Engagement: Investing in local communities through support and service.
• Innovation: Embracing new technologies to enhance customer experience.
• Teamwork: Fostering collaboration among employees to achieve common goals.

Financial Performance Indicators

The financial health of Fidelity D & D Bancorp is reflected in various key metrics:

Customer Experience Commitment

Fidelity D & D Bancorp, Inc. places emphasis on enhancing the customer experience through:

• Personalized Service: Tailoring financial solutions to individual needs.
• Accessibility: Providing multiple channels for customer interactions, including mobile and online banking.
• Educational Resources: Offering financial literacy programs to empower clients.
• Feedback Mechanisms: Implementing systems for customer feedback to improve services.

Community Involvement

The organization actively participates in community development through:

• Local Sponsorships: Supporting local events and initiatives.
• Volunteer Work: Encouraging employees to engage in community service.
• Financial Contributions: Donating to local charities and non-profits.

Strategic Goals

The strategic goals align with the mission statement, focusing on:

• Growth: Expanding market presence and increasing customer base.
• Innovation: Adopting cutting-edge technology for operational efficiency.
• Customer Satisfaction: Achieving high customer retention rates.
• Financial Performance: Enhancing profitability and returns.

Conclusion of Mission Alignment

The mission statement of Fidelity D & D Bancorp, Inc. reflects its dedication to combining solid financial performance with a commitment to customers and communities. This alignment of mission, values, and goals contributes to the company's success in the banking sector.

How Fidelity D & D Bancorp, Inc. (FDBC) Works

Company Overview

Fidelity D & D Bancorp, Inc. (FDBC) is a bank holding company based in Dunmore, Pennsylvania. The company, as of 2023, operates through its wholly-owned subsidiary, Fidelity Deposit and Discount Bank. FDBC provides a range of financial services including traditional banking products, investment advisory services, and insurance solutions.

Financial Performance

As of the end of Q2 2023, FDBC reported the following financial metrics:

Business Segments

Fidelity D & D Bancorp operates through various business segments:

• Commercial Banking
• Retail Banking
• Wealth Management
• Insurance Services

Commercial Banking

The commercial banking division provides loans and deposit products for small to medium-sized businesses. As of June 30, 2023, the commercial loan portfolio totaled approximately:

Retail Banking

FDBC's retail banking services include savings accounts, checking accounts, and consumer loans. As of Q2 2023, the retail deposit accounts were broken down as follows:

Wealth Management

The wealth management segment offers investment advisory and retirement planning services. As of June 30, 2023, FDBC managed assets under management totaling:

Insurance Services

Fidelity D & D Bancorp also offers insurance products. As of mid-2023, the new insurance premiums written amounted to:

Customer Base

FDBC serves a diverse customer base, including:

• Individuals
• Small and Medium Enterprises (SMEs)
• Non-profit Organizations
• Government Entities

Geographic Presence

The bank primarily serves northeastern Pennsylvania and has branch locations in:

• Scranton
• Wilkes-Barre
• Dunmore
• Carbondale

Recent Developments

In recent quarters, FDBC has focused on expanding its digital banking platform, investing $2 million in technology upgrades for enhanced customer experience. The bank also reported a growth rate of 5% in total assets year-over-year (YOY).

Stock Performance

As of October 2023, FDBC's stock price was approximately $30.50 per share, with a market capitalization of around $300 million. The price-to-earnings (P/E) ratio stands at:

How Fidelity D & D Bancorp, Inc. (FDBC) Makes Money

Revenue Sources

Fidelity D & D Bancorp, Inc. generates its revenue primarily through various financial services, including interest income from loans, non-interest income from fees, and services offered to clients.

Interest Income

A significant portion of FDBC's revenue comes from interest income, which is generated from loans provided to customers. As of the latest financial reports, the total interest income was approximately $16.2 million for the year ended December 31, 2022.

Non-Interest Income

Non-interest income is another critical revenue component. This includes service charges, fees, and commissions associated with various banking products and services. The total non-interest income reported was around $3.4 million for the same period.

Loan Portfolio Breakdown

FDBC's loan portfolio is diversified across different sectors, which helps in risk management and income stability. The loan types include commercial loans, residential mortgages, and consumer loans. The following table outlines the portfolio distribution:

Interest Expense

FDBC also incurs interest expenses related to deposits and borrowed funds, which directly affect net interest income. As of the latest financial statements, the total interest expense was reported at $2.4 million.

Net Interest Income

The net interest income is calculated as follows: Interest Income minus Interest Expense. For the year ended December 31, 2022, the net interest income was approximately $13.8 million.

Fee-Based Services

Fee-based services contribute significantly to FDBC's non-interest income. These services include wealth management, investment services, and transaction fees. The breakdown of fee-based income for the year includes:

Expense Management

Effective expense management is crucial for profitability. FDBC has reported operational expenses amounting to $10.5 million for the year 2022, which includes salaries, benefits, and other administrative costs.

Profitability Metrics

FDBC's profitability can be assessed through various metrics, including Return on Assets (ROA) and Return on Equity (ROE). As per the latest data:

Market Position

Fidelity D & D Bancorp, Inc. operates primarily within Pennsylvania, focusing on community banking services, and has established a strong market presence. The bank has total assets amounting to approximately $1.2 billion as of December 31, 2022.

Conclusion

In summary, Fidelity D & D Bancorp, Inc. utilizes a combination of interest income from diversified loan offerings and non-interest income from fee-based services. Together, these elements contribute to the bank's overall revenue and financial health, positioning it favorably within the financial services industry.