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Mar 31, 2023
Fidelity D & D Bancorp Q1 2023 Earnings Report
Fidelity D & D Bancorp reported positive first quarter results, demonstrating strength and stability amidst market disruption.
Key Takeaways
Fidelity D & D Bancorp, Inc. reported a net income of $7.0 million, or $1.24 diluted earnings per share, for the quarter ended March 31, 2023. Despite market disruption in March, the bank increased its capital position, grew loans, and maintained strong credit quality.
Net income for the quarter was $7.0 million, or $1.24 diluted earnings per share.
Net interest income decreased by 2% to $17.0 million compared to the first quarter of 2022.
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.
Forward Guidance
This press release contains forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially from those anticipated.
Challenges Ahead
- Technological changes
- Acquisitions and integration of acquired businesses
- Acts of war or terrorism
- Disruption of credit and equity markets
- The risk that our analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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