Fidelity D & D Bancorp, Inc. Announces Shareholder Approval Of the Acquisition of MNB Corporation
2020年4月23日 - 9:00PM
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) (“Fidelity”), the
parent bank holding company of The Fidelity Deposit and Discount
Bank (“Fidelity Bank”), a Pennsylvania state-chartered,
FDIC-insured community bank and trust company headquartered in
Dunmore, PA, announced today that shareholders of Fidelity and MNB
Corporation have approved the previously announced proposed
acquisition of MNB Corporation by Fidelity. As previously
disclosed, all requisite regulatory approvals have been received by
the parties. The mergers of MNB Corporation with and into Fidelity
and Merchants Bank of Bangor with and into Fidelity Bank are
expected to be completed on May 1, 2020, subject to the
satisfaction of customary closing conditions.
About Fidelity D & D Bancorp,
Inc.
Fidelity D & D Bancorp, Inc. has built a strong history as
trusted financial advisors to the clients served by The Fidelity
Deposit and Discount Bank, founded in 1902, and is proud to be an
active member of the community of Northeastern Pennsylvania.
Fidelity Bank has been recognized nationally for its sound
financial performance, and superior customer experience. It has
been identified as one of the Top 200 Community Banks in the
country by American Bankers Association for four years in a row,
and Forbes ranked it one of the Best In-State Banks for the past
two years. The company has been the #1 mortgage lender in the
Lackawanna County market for over 8 years. Fidelity Bank is
passionate about success and committed to building strong
relationships through superior service.
Part of the Bank’s mission is to be a good corporate partner
within its market areas by providing over 1,600 hours of volunteer
time to non-profit organizations yearly. Fidelity serves multiple
office locations throughout Lackawanna and Luzerne Counties
providing personal and business banking products and services,
including wealth management planning through fiduciary activities
with the Fidelity Bank’s full trust powers; as well as offering a
full array of asset management services. Fidelity Bank operates a
Wealth Management office in Schuylkill and Lebanon Counties as
well. The Bank provides 24 hour, 7 day a week service to clients
through branch offices, online at www.bankatfidelity.com, and
through the Customer Care Center at 800-388-4380. Fidelity Bank's
deposits are insured by the Federal Deposit Insurance Corporation
up to the full extent permitted by law.
Caution Regarding Forward-Looking
Statements
Certain of the matters discussed in this press release
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 Fidelity 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.
Fidelity’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 conditions particularly with regard to
the negative impact of severe and wide-ranging disruptions caused
by the spread of Coronavirus Disease 2019 (COVID-19) 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 or changes in existing laws and regulations,
including the Tax Cuts and Jobs Act and Dodd-Frank Wall Street
Reform and Consumer Protection Act of 2010 and the regulations
promulgated there under;
- impacts of the 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 the 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;
- the interruption or breach in security of our information
systems and other technological risks and attacks resulting in
failures or disruptions in customer account management, general
ledger processing and loan or deposit updates and potential impacts
resulting therefrom including additional costs, reputational
damage, regulatory penalties, and financial losses;
- acquisitions and integration of acquired businesses;
- the failure of assumptions underlying the establishment of
reserves for loan losses and estimations of values of collateral
and various financial assets and liabilities;
- volatilities in the securities markets;
- 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; and
- the other factors detailed in Fidelity’s publicly filed
documents, including its Annual Report on Form 10-K for the year
ended December 31, 2019.
Fidelity cautions readers not to place undue reliance on
forward-looking statements, which reflect analyses only as of the
date of this release. Fidelity has no obligation to update any
forward-looking statements to reflect events or circumstances after
the date of this release.
Contacts: |
|
|
|
Daniel J. Santaniello |
Salvatore R. DeFrancesco, Jr. |
|
President and Chief Executive Officer |
Treasurer and Chief Financial Officer |
|
570-504-8035 |
570-504-8000 |
Fidelity D and D Bancorp (NASDAQ:FDBC)
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Fidelity D and D Bancorp (NASDAQ:FDBC)
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