Fidelity D & D Bancorp, Inc. Announces Common Stock Repurchase Program Initiated
2022年5月18日 - 9:59PM
Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) (the “Company”),
announced that the Board of Directors has approved a plan to
purchase, in open market and privately negotiated transactions, up
to 3% of its outstanding common stock. In announcing the plan,
Daniel J. Santaniello, President & Chief Executive Officer of
Fidelity D & D Bancorp, Inc. stated that the Board of Directors
believes the opportunity to purchase the Company’s common stock
represents an attractive opportunity for the Company and its
shareholders. The purchases are expected to be funded by using
available excess capital. This plan replaces any and all earlier
announced repurchase plans.
About Fidelity D & D Bancorp,
Inc.Fidelity D & D Bancorp, Inc. and its wholly owned
subsidiary, The Fidelity Deposit and Discount Bank (“Fidelity
Bank”) have built a strong history as trusted financial advisor to
the clients served with 22 full-service offices throughout
Lackawanna, Luzerne and Northampton Counties, along with the
Fidelity Bank Wealth Management Minersville Office in Schuylkill
County. Fidelity Bank provides a digital and virtual experience via
online banking and mobile app, digital services, and digital
account opening. Additionally, Fidelity Bank offers full-service
Trust & Investment Departments, a Mortgage Center, and an array
of personal and business banking products and services. Part of the
Company's vision is to serve as the best bank for the community,
which was accomplished by having provided nearly 3,137 hours of
volunteer time and over $1.8 million in donations to non-profit
organizations directly within the markets served throughout 2021.
The Company continues its mission of exceeding client expectations
through a unique banking experience, providing 24 hour, 7 days a
week service to clients through branch offices, online at
www.bankatfidelity.com, and through the Customer Care Center at
800-388-4380.
Caution Regarding Forward-Looking
StatementsCertain 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 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 actual results may differ materially from
the results anticipated in these forward-looking statements due to
a variety of factors, including, without limitation:
- the short-term and long-term
effects of inflation, and rising costs to the Company, its
customers and on the economy;
- the effects of economic conditions
particularly with regard to the negative impact of severe,
wide-ranging and continuing disruptions caused by the spread of
Coronavirus Disease 2019 (COVID-19) and any other pandemic,
epidemic or other health-related crisis and responses thereto on
current customers and the operations of the Company, 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 laws and regulations
concerning taxes, banking, securities and insurance and their
application with which the Company and its subsidiaries must
comply;
- 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, continually evolving
cybersecurity 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;
- inflation, securities markets and
monetary fluctuations and volatility;
- acts of war or terrorism;
- disruption of credit and equity
markets; and
- 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.
The Company cautions readers not to place undue
reliance on forward-looking statements, which reflect analyses only
as of the date of this press release. The Company has no obligation
to update any forward-looking statements to reflect events or
circumstances after the date of this press release.
Contact: |
|
Daniel J. SantanielloPresident and Chief Executive
Officer570-504-8035 |
|
Fidelity D and D Bancorp (NASDAQ:FDBC)
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から 6 2024 まで 7 2024
Fidelity D and D Bancorp (NASDAQ:FDBC)
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から 7 2023 まで 7 2024