Loading...
•
Dec 31, 2023
Fidelity D & D Bancorp Q4 2023 Earnings Report
Fidelity D & D Bancorp reported a decline in net income for Q4 2023 due to lower non-interest income and net interest income, partially offset by reduced provision for income taxes and credit losses.
Key Takeaways
Fidelity D & D Bancorp's Q4 2023 net income decreased significantly to $0.5 million, or $0.08 per diluted share, compared to $7.1 million, or $1.26 per diluted share, in Q4 2022. This decline was primarily due to a $5.9 million decrease in non-interest income, driven by a $6.5 million loss on the sale of securities, and a $3.4 million decline in net interest income. Adjusted net income, excluding the loss on the sale of securities, was $5.6 million, or $0.97 per diluted share.
Net income for Q4 2023 was $0.5 million, a 93% decrease compared to Q4 2022.
The decline in net income was primarily due to lower non-interest income from the sale of securities and decreased net interest income.
Adjusted net income, excluding the loss on the sale of securities, was $5.6 million for Q4 2023.
Total assets grew to $2.5 billion as of December 31, 2023, an increase of $125 million from December 31, 2022.
Forward Guidance
The Company continues to execute well and remains focused, disciplined and thoughtful as it executes on its strategic plan.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...