Fidelity Bank reports decrease in net income

Robert Tomkavage, The Times-Tribune, Scranton, Pa.
·1 min read

Jul. 26—Fidelity D&D Bancorp Inc. and its banking subsidiary, The Fidelity Discount and Deposit Bank, announced net income of $5.4 million for the second quarter of 2023, a decrease of $2.3 million from the same period last year.

The decline primarily resulted from a $2.7 million decrease in net interest income and $600,000 higher non-interest expenses, which more than offset an $800,000 lower provision for income taxes and $300,000 more non-interest income.

"Despite the challenging operating environment, the bank produced strong loan growth, grew non-interest income, maintained excellent asset quality, and controlled expenses," said Dan Santaniello, president and CEO of Fidelity Bank.

— ROBERT TOMKAVAGE