DUNMORE, Pa., July 29, 2014 /PRNewswire/ -- Fidelity D
& D Bancorp, Inc. (OTC Bulletin Board: FDBC), parent company of
The Fidelity Deposit and Discount Bank, announced net income for
the quarter ended June 30, 2014 of
$1.6 million, a $0.1 million, or 8%, increase compared to the
same 2013 quarter. Earnings improvement occurred by expanding
net interest income by 5%, while the decline in other income and
incurring higher operating expenses was offset by the drop in
provision for loan losses compared to the previous year's second
quarter. Net interest income improvement was derived from the
Company's successful growth over the past year; with an over
$37 million growth in quarterly
average earning assets funded by a $31
million increase in average deposit balances, plus an
$8 million average balance expansion
of shareholder's equity. The return on average assets (ROA)
was 1.01% and 1.00%, respectively for the second quarter of 2014
and 2013. Earnings per share on a diluted basis were
$0.67 and $0.64 for the three months ended June 30, 2014 and 2013, respectively.
"Fidelity is very pleased with the 8% increase in earnings for
the 2nd quarter of 2014 when compared to the same period in 2013,"
stated Daniel J. Santaniello,
President and Chief Executive Officer. "The second quarter
earnings reflected ongoing loan growth, strong fee income,
continued credit quality improvement and disciplined expense
management. The positive growth in the balance sheet and
income statement are a result of the Bank's commitment to building
strong relationships through knowledgeable bankers and a dedication
to continuous improvement."
Net income for the six months ended June
30, 2014 was $3.1 million, an
increase of $0.2 million, or 6%,
compared to net income of $2.9
million for the six months ended June
30, 2013. The year-to-date period earnings improvement
occurred from producing more net interest income, with lower
provision for loan losses almost off-setting the decline in other
income, while other expenses remained flat compared to the prior
year-to-date period. ROA was 0.96% for the six months ended
June 30, 2014 and 2013.
Earnings per share were $1.28 and
$1.24 for the six months ended
June 30, 2014 and 2013,
respectively.
The Company's assets increased $26.5
million, or 4%, to total $650.3
million at June 30, 2014 from
$623.8 million at December 31, 2013. The first half of 2014
growth resulted primarily from adding $18.0
million in net loan balances and $5.3
million in securities. This earning asset growth was
supported by deploying $13.2 million
of availability on short-term borrowings plus the $8.8 million in deposit growth and $3.9 million increase of shareholder's
equity.
Net interest income was $5.4
million for the quarter ended June
30, 2014, up $0.2 million, or
5%, compared to $5.2 million for the
quarter ended June 30, 2013.
This resulted from a larger but lower-yielding average earning
asset base which was primarily funded by deposit growth. This
activity pressured net interest spread down 5 basis points and
brought net interest margin down to 3.79% for the second quarter of
2014 compared to 3.84% for same 2013 quarterly period.
Net interest income increased $306
thousand, or 3%, to $10.7
million for the six months ended June
30, 2014 from $10.4 million
recorded during the same period of 2013. Net interest margin
was 3.79% during the first half of 2014 compared to 3.84% during
the first half of 2013, a decline of 5 basis points. This
decline resulted from growth in the average earning assets base,
stemming from average loan balance growth of $31.2 million that lowered yield on
interest-earning assets by 10 basis points, while the rate on
interest-bearing liabilities only declined by 5 basis points.
The provision for loan losses was halved at $300 thousand for the second quarter ending
June 30, 2014 compared to
$600 thousand provided for the same
2013 quarter. Provision for loan losses was $0.6 million for the six months ending
June 30, 2014, compared to
$1.2 million for the same 2013
period. The allowance for loan losses was 1.82% of total
loans at June 30, 2014, up from 1.78%
at June 30, 2013 from the reduction
in non-accrual loans to total loans from 1.44% at June 30, 2013 to 0.82% at June 30, 2014.
Total other income recorded for the quarter ended June 30, 2014 was $1.8
million compared with $2.1
million for the same quarter in 2013. The decrease in
other income was primarily due to the $266
thousand reduction in total gains recognized from the sale
of loans with $41 less loan service
charge activities. These reductions were partially off-set by
the net improvement from $85 thousand
more gains recognized on the sale of securities plus revenue
increases of $33 thousand more rental
income, $32 thousand more net
mortgage servicing fees, $25 thousand
additional interchange fees and $13
thousand more financial service fees, all earned from
reoccurring traditional commercial banking and asset management
services, that were reduced by a $67
thousand loss on disposal of equipment, $28 thousand lower deposit service charges
collected and a $20 thousand decline
in fiduciary fees.
Total other income for the six months ended June 30, 2014 was $3.6
million compared to $4.1
million for the same period in 2013. The revenue
decrease in the comparative periods resulted primarily from
$642 thousand reduction in gains from
the sale of loans and $158 thousand
less loan service charge activities. These were partially
off-set by the $173 thousand more
gains realized from the sale on investment securities for the six
months ended June 30, 2014 compared
to the same 2013 period.
Total other operating expenses were $4.8
million, $155 thousand more
compared to $4.6 million for the
quarters ending June 30, 2014 and
2013, respectively. The other operating expenses increased
primarily from fewer number of loans booked, from refinancing
activity that capitalized $99
thousand more loan origination costs in the 2013 quarter
than in the same 2014 period. Also, occupancy and equipment costs
increased $70 thousand, salary and
benefit expenses added $66 thousand,
advertising and marketing costs were up $59
thousand and automated transaction processing costs
increased $39 thousand over the 2013
second quarter coupled with a $48
thousand sales-tax refund that reduced the prior years'
second quarter other expenses. These expense increases were
off-set by $98 thousand lower loan
collections and $37 thousand less
other real estate costs, along with a $44
thousand reduced FDIC assessment and $14 thousand decline in supply and postage
expenses recorded during the second quarter 2014, when compared to
the same 2013 quarter.
Total other operating expenses were $9.5
million each for the six months ending June 30, 2014 and 2013. The current period
included $162 thousand less
capitalized loan origination costs, with $139 thousand more marketing expenses from an
educational improvement tax credit donation, $132 thousand additional premises and equipment
expenses, $65 thousand greater
automated transaction processing costs and $62 thousand additional professional services;
almost off-set by $246 thousand fewer
loan collection expenses, $172
thousand reduced PA shares tax from awarded educational
improvement tax credits, $95 thousand
less other real estate costs and $71
thousand lower FDIC assessments.
Fidelity D & D Bancorp, Inc. serves Lackawanna and Luzerne Counties through The Fidelity Deposit
and Discount Bank's 11 community banking office locations,
including wealth management assistance through providing fiduciary
activities with the Bank's full trust powers; as well as offering a
full array of asset management services. The Bank's deposits
are insured by the Federal Deposit Insurance Corporation up to the
full extent permitted by law.
Forward-looking statements
Certain of the matters discussed in this press release may
constitute forward-looking statements for purposes of the
Securities Act of 1933, as amended, and the Securities Exchange Act
of 1934, as amended, and as such may involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from future results, performance or
achievements expressed or implied by such forward-looking
statements. The words "expect," "anticipate," "intend," "plan,"
"believe," "estimate," and similar expressions are intended to
identify such forward-looking statements.
The Company's actual results may differ materially from the
results anticipated in these forward-looking statements due to a
variety of factors, including, without limitation:
- the effects of economic deterioration on current customers,
specifically the effect of the economy on loan customers' ability
to repay loans;
- the costs and effects of litigation and of unexpected or
adverse outcomes in such litigation;
- the impact of new laws and regulations, including the
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
and the regulations promulgated there under;
- the adequacy of the allowance for loan losses;
- impacts of the new capital and liquidity requirements of the
Basel III standards and other regulatory pronouncements,
regulations and rules;
- governmental monetary and fiscal policies, as well as
legislative and regulatory changes;
- effects of short- and long-term federal budget and tax
negotiations and their effect on economic and business
conditions;
- the effect of changes in accounting policies and practices, as
may be adopted by banking regulatory agencies, as well as the
Financial Accounting Standards Board and other accounting standard
setters;
- the risks of changes in interest rates on the level and
composition of deposits, loan demand, and the values of loan
collateral, securities and interest rate protection agreements, as
well as interest rate risks;
- the effects of competition from other commercial banks,
thrifts, mortgage banking firms, consumer finance companies, credit
unions, securities brokerage firms, insurance companies, money
market and other mutual funds and other financial institutions
operating in our market area and elsewhere, including institutions
operating locally, regionally, nationally and internationally,
together with such competitors offering banking products and
services by mail, telephone, computer and the internet;
- technological changes;
- acquisitions and integration of acquired businesses;
- the failure of assumptions underlying the establishment of
reserves for loan and lease losses and estimations of values of
collateral and various financial assets and liabilities;
- volatility in the securities markets;
- disruptions due to flooding, severe weather, or other natural
disasters or Acts of God;
- acts of war or terrorism; and
- disruption of credit and equity markets.
For more information please visit our investor relations web
site located through www.bankatfidelity.com.
FIDELITY D
& D BANCORP, INC.
|
Unaudited Condensed
Consolidated Balance Sheets
|
(dollars in
thousands)
|
|
|
|
|
|
At Period
End:
|
June 30,
2014
|
December 31,
2013
|
Assets
|
|
|
|
|
Total
cash and cash equivalents
|
$
|
14,439
|
$
|
13,218
|
Investment securities
|
|
102,699
|
|
97,423
|
Federal
Home Loan Bank Stock
|
|
2,954
|
|
2,640
|
Loans
and leases
|
|
497,133
|
|
479,061
|
Allowance for loan losses
|
|
(9,029)
|
|
(8,928)
|
Premises
and equipment, net
|
|
14,341
|
|
13,602
|
Life
insurance cash surrender value
|
|
10,569
|
|
10,402
|
Other
assets
|
|
17,200
|
|
16,407
|
|
|
|
|
|
Total
assets
|
$
|
650,306
|
$
|
623,825
|
|
|
|
|
|
Liabilities
|
|
|
|
|
Non-interest-bearing deposits
|
$
|
126,008
|
$
|
122,919
|
Interest-bearing deposits
|
|
412,495
|
|
406,779
|
Total
deposits
|
|
538,503
|
|
529,698
|
Short-term borrowings
|
|
21,872
|
|
8,642
|
Long-term debt
|
|
16,000
|
|
16,000
|
Other
liabilities
|
|
4,005
|
|
3,425
|
Total
liabilities
|
|
580,380
|
|
557,765
|
|
|
|
|
|
Shareholders' equity
|
|
69,926
|
|
66,060
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
$
|
650,306
|
$
|
623,825
|
|
|
|
|
|
|
|
|
|
|
Average
Year-To-Date Balances:
|
June 30,
2014
|
December 31,
2013
|
Assets
|
|
|
|
|
Total
cash and cash equivalents
|
$
|
22,131
|
$
|
19,703
|
Investment securities
|
|
104,623
|
|
103,563
|
Loans
and leases, net
|
|
477,102
|
|
452,898
|
Premises
and equipment, net
|
|
14,053
|
|
13,852
|
Other
assets
|
|
27,373
|
|
28,756
|
|
|
|
|
|
Total
assets
|
$
|
645,282
|
$
|
618,772
|
|
|
|
|
|
Liabilities
|
|
|
|
|
Non-interest-bearing deposits
|
$
|
128,406
|
$
|
126,149
|
Interest-bearing deposits
|
|
412,885
|
|
396,411
|
Total
deposits
|
|
541,291
|
|
522,560
|
Short-term borrowings and long-term debt
|
|
32,204
|
|
31,524
|
Other
liabilities
|
|
3,769
|
|
3,803
|
Total
liabilities
|
|
577,264
|
|
557,887
|
|
|
|
|
|
Shareholders' equity
|
|
68,018
|
|
60,885
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
$
|
645,282
|
$
|
618,772
|
FIDELITY D & D
BANCORP, INC.
|
Unaudited Condensed
Consolidated Statements of Income
|
(dollars in
thousands)
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
|
|
Jun. 30,
2014
|
|
Jun. 30,
2013
|
|
Jun. 30,
2014
|
|
Jun. 30,
2013
|
|
|
Interest
income
|
|
|
|
|
|
|
|
|
|
|
Loans and leases
|
$
|
5,524
|
$
|
5,456
|
$
|
10,931
|
$
|
10,925
|
|
|
Securities and other
|
|
621
|
|
456
|
|
1,216
|
|
955
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
interest income
|
|
6,145
|
|
5,912
|
|
12,147
|
|
11,880
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
498
|
|
511
|
|
987
|
|
1,026
|
|
|
Borrowings and debt
|
|
223
|
|
221
|
|
441
|
|
441
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
interest expense
|
|
721
|
|
732
|
|
1,428
|
|
1,467
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
5,424
|
|
5,180
|
|
10,719
|
|
10,413
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for loan losses
|
|
(300)
|
|
(600)
|
|
(600)
|
|
(1,150)
|
|
|
Other income
|
|
1,821
|
|
2,051
|
|
3,559
|
|
4,119
|
|
|
Other expenses
|
|
(4,761)
|
|
(4,606)
|
|
(9,546)
|
|
(9,487)
|
|
|
Provision for income taxes
|
|
(557)
|
|
(512)
|
|
(1,049)
|
|
(988)
|
|
|
Net
income
|
$
|
1,627
|
$
|
1,513
|
$
|
3,083
|
$
|
2,907
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
Jun. 30,
2014
|
|
Mar. 31,
2014
|
|
Dec. 31,
2013
|
|
Sep. 30,
2013
|
|
Jun. 30,
2013
|
Interest
income
|
|
|
|
|
|
|
|
|
|
|
Loans and leases
|
$
|
5,524
|
$
|
5,407
|
$
|
5,438
|
$
|
5,455
|
$
|
5,456
|
Securities and other
|
|
621
|
|
595
|
|
581
|
|
499
|
|
456
|
|
|
|
|
|
|
|
|
|
|
|
Total
interest income
|
|
6,145
|
|
6,002
|
|
6,019
|
|
5,954
|
|
5,912
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
498
|
|
489
|
|
530
|
|
525
|
|
511
|
Borrowings and debt
|
|
223
|
|
218
|
|
223
|
|
223
|
|
221
|
|
|
|
|
|
|
|
|
|
|
|
Total
interest expense
|
|
721
|
|
707
|
|
753
|
|
748
|
|
732
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
5,424
|
|
5,295
|
|
5,266
|
|
5,206
|
|
5,180
|
|
|
|
|
|
|
|
|
|
|
|
Provision for loan losses
|
|
(300)
|
|
(300)
|
|
(950)
|
|
(450)
|
|
(600)
|
Other income
|
|
1,821
|
|
1,738
|
|
4,514
|
|
1,908
|
|
2,051
|
Other expenses
|
|
(4,761)
|
|
(4,785)
|
|
(4,989)
|
|
(4,644)
|
|
(4,606)
|
Provision for income taxes
|
|
(557)
|
|
(492)
|
|
(1,131)
|
|
(515)
|
|
(512)
|
Net
income
|
$
|
1,627
|
$
|
1,456
|
$
|
2,710
|
$
|
1,505
|
$
|
1,513
|
FIDELITY D
& D BANCORP, INC.
|
Unaudited Condensed
Consolidated Balance Sheets
|
(dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
At Period
End:
|
|
Jun. 30,
2014
|
|
Mar. 31,
2014
|
|
Dec. 31,
2013
|
|
Sep. 30,
2013
|
|
Jun. 30,
2013
|
Assets
|
|
|
|
|
|
|
|
|
|
|
Total
cash and cash equivalents
|
$
|
14,439
|
$
|
32,099
|
$
|
13,218
|
$
|
35,885
|
$
|
15,266
|
Investment securities
|
|
102,699
|
|
102,213
|
|
97,423
|
|
103,111
|
|
96,466
|
Federal
Home Loan Bank Stock
|
|
2,954
|
|
2,176
|
|
2,640
|
|
2,160
|
|
3,214
|
Loans
and leases
|
|
497,133
|
|
484,015
|
|
479,061
|
|
464,008
|
|
465,351
|
Allowance for loan losses
|
|
(9,029)
|
|
(8,899)
|
|
(8,928)
|
|
(8,405)
|
|
(8,296)
|
Premises
and equipment, net
|
|
14,341
|
|
14,410
|
|
13,602
|
|
13,709
|
|
13,802
|
Life
insurance cash surrender value
|
|
10,569
|
|
10,485
|
|
10,402
|
|
10,316
|
|
10,231
|
Other
assets
|
|
17,200
|
|
17,930
|
|
16,407
|
|
19,510
|
|
19,141
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
$
|
650,306
|
$
|
654,429
|
$
|
623,825
|
$
|
640,294
|
$
|
615,175
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
Non-interest-bearing deposits
|
$
|
126,008
|
$
|
132,096
|
$
|
122,919
|
$
|
134,114
|
$
|
127,268
|
Interest-bearing deposits
|
|
412,495
|
|
422,670
|
|
406,779
|
|
410,716
|
|
392,255
|
Total
deposits
|
|
538,503
|
|
554,766
|
|
529,698
|
|
544,830
|
|
519,523
|
Short-term borrowings
|
|
21,872
|
|
12,327
|
|
8,642
|
|
14,197
|
|
16,199
|
Long-term debt
|
|
16,000
|
|
16,000
|
|
16,000
|
|
16,000
|
|
16,000
|
Other
liabilities
|
|
4,005
|
|
3,487
|
|
3,425
|
|
3,471
|
|
3,550
|
Total
liabilities
|
|
580,380
|
|
586,580
|
|
557,765
|
|
578,498
|
|
555,272
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' equity
|
|
69,926
|
|
67,849
|
|
66,060
|
|
61,796
|
|
59,903
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
$
|
650,306
|
$
|
654,429
|
$
|
623,825
|
$
|
640,294
|
$
|
615,175
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Quarterly
Balances:
|
|
Jun. 30,
2014
|
|
Mar. 31,
2014
|
|
Dec. 31,
2013
|
|
Sep. 30,
2013
|
|
Jun. 30,
2013
|
Assets
|
|
|
|
|
|
|
|
|
|
|
Total
cash and cash equivalents
|
$
|
19,461
|
$
|
24,831
|
$
|
17,177
|
$
|
18,296
|
$
|
13,554
|
Investment securities
|
|
106,034
|
|
103,197
|
|
104,729
|
|
102,617
|
|
102,335
|
Loans
and leases, net
|
|
482,406
|
|
471,738
|
|
462,528
|
|
456,479
|
|
450,684
|
Premises
and equipment, net
|
|
14,428
|
|
13,674
|
|
13,692
|
|
13,841
|
|
13,838
|
Other
assets
|
|
27,098
|
|
27,651
|
|
29,173
|
|
29,622
|
|
28,441
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
$
|
649,427
|
$
|
641,091
|
$
|
627,299
|
$
|
620,855
|
$
|
608,852
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
Non-interest-bearing deposits
|
$
|
129,069
|
$
|
127,736
|
$
|
126,200
|
$
|
124,794
|
$
|
122,805
|
Interest-bearing deposits
|
|
415,555
|
|
410,185
|
|
404,633
|
|
400,305
|
|
390,392
|
Total
deposits
|
|
544,624
|
|
537,921
|
|
530,833
|
|
525,099
|
|
513,197
|
Short-term borrowings and long-term debt
|
|
31,907
|
|
32,503
|
|
30,058
|
|
31,263
|
|
31,199
|
Other
liabilities
|
|
3,942
|
|
3,595
|
|
3,848
|
|
3,892
|
|
3,657
|
Total
liabilities
|
|
580,473
|
|
574,019
|
|
564,739
|
|
560,254
|
|
548,053
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' equity
|
|
68,954
|
|
67,072
|
|
62,560
|
|
60,601
|
|
60,799
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
$
|
649,427
|
$
|
641,091
|
$
|
627,299
|
$
|
620,855
|
$
|
608,852
|
FIDELITY D & D
BANCORP, INC.
|
Selected Financial
Ratios and Other Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
Jun. 30,
2014
|
|
Mar. 31,
2014
|
|
Dec. 31,
2013
|
|
Sep. 30,
2013
|
|
Jun. 30,
2013
|
Selected returns
and financial ratios
|
|
|
|
|
|
|
|
|
|
|
Basic
earnings per share
|
$
|
0.67
|
$
|
0.61
|
$
|
1.15
|
$
|
0.64
|
$
|
0.64
|
Diluted
earnings per share
|
$
|
0.67
|
|
0.61
|
$
|
1.14
|
$
|
0.64
|
$
|
0.64
|
Dividends per share
|
$
|
0.25
|
$
|
0.25
|
$
|
0.35
|
$
|
0.25
|
$
|
0.25
|
Yield on
interest-earning assets (FTE)
|
|
4.27%
|
|
4.27%
|
|
4.27%
|
|
4.26%
|
|
4.37%
|
Cost of
interest-bearing liabilities
|
|
0.65%
|
|
0.65%
|
|
0.69%
|
|
0.69%
|
|
0.70%
|
Net
interest spread
|
|
3.62%
|
|
3.62%
|
|
3.58%
|
|
3.57%
|
|
3.67%
|
Net
interest margin
|
|
3.79%
|
|
3.79%
|
|
3.76%
|
|
3.74%
|
|
3.84%
|
Return
on average assets
|
|
1.01%
|
|
0.92%
|
|
1.71%
|
|
0.96%
|
|
1.00%
|
Return
on average equity
|
|
9.47%
|
|
8.80%
|
|
17.19%
|
|
9.85%
|
|
9.98%
|
Efficiency ratio
|
|
64.68%
|
|
67.89%
|
|
67.48%
|
|
64.51%
|
|
61.90%
|
Expense
ratio
|
|
1.87%
|
|
2.06%
|
|
2.02%
|
|
1.83%
|
|
1.69%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months
Ended
|
|
|
|
|
|
|
|
|
Jun. 30,
2014
|
|
Jun. 30,
2013
|
|
|
|
|
|
|
Basic
earnings per share
|
$
|
1.28
|
$
|
1.24
|
|
|
|
|
|
|
Diluted
earnings per share
|
$
|
1.28
|
$
|
1.24
|
|
|
|
|
|
|
Dividends per share
|
$
|
0.50
|
$
|
0.50
|
|
|
|
|
|
|
Yield on
interest-earning assets (FTE)
|
|
4.27%
|
|
4.37%
|
|
|
|
|
|
|
Cost of
interest-bearing liabilities
|
|
0.65%
|
|
0.70%
|
|
|
|
|
|
|
Net
interest spread
|
|
3.62%
|
|
3.67%
|
|
|
|
|
|
|
Net
interest margin
|
|
3.79%
|
|
3.84%
|
|
|
|
|
|
|
Return
on average assets
|
|
0.96%
|
|
0.96%
|
|
|
|
|
|
|
Return
on average equity
|
|
9.14%
|
|
9.74%
|
|
|
|
|
|
|
Efficiency ratio
|
|
66.25%
|
|
64.02%
|
|
|
|
|
|
|
Expense
ratio
|
|
1.97%
|
|
1.81%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other financial
data
|
|
Three Months
Ended
|
|
|
Jun. 30,
2014
|
|
Mar. 31,
2014
|
|
Dec. 31,
2013
|
|
Sep. 30,
2013
|
|
Jun. 30,
2013
|
Book
value per share
|
$
|
28.90
|
$
|
28.13
|
$
|
27.62
|
$
|
26.06
|
$
|
25.42
|
Equity
to assets
|
|
10.75%
|
|
10.37%
|
|
10.59%
|
|
9.65%
|
|
9.74%
|
Allowance for loan losses to:
|
|
|
|
|
|
|
|
|
|
|
Total loans
|
|
1.82%
|
|
1.84%
|
|
1.86%
|
|
1.81%
|
|
1.78%
|
Non-accrual
loans
|
|
2.22x
|
|
2.40x
|
|
1.58x
|
|
1.37x
|
|
1.24x
|
Non-accrual loans to total loans
|
|
0.82%
|
|
0.77%
|
|
1.18%
|
|
1.32%
|
|
1.44%
|
Non-performing assets to total assets
|
|
1.08%
|
|
1.07%
|
|
1.44%
|
|
1.82%
|
|
2.03%
|
SOURCE Fidelity D & D Bancorp, Inc.