DUNMORE, Pa., Nov. 03, 2025 (GLOBE NEWSWIRE) -- Daniel J. Santaniello, President and CEO of Fidelity Bank, is pleased to announce that Charles Hangen has joined Fidelity Bank as SVP, Chief Risk Officer. Hangen will be responsible for safeguarding the Bank’s strategic integrity, this role leads to the identification and mitigation of critical competitive, regulatory, and technological risks. He will be focused on advancing the enterprise risk management framework and ensuring robust policies and procedures t ...

Core Viewpoint - Fidelity D & D Bancorp, Inc. announces the retirement of Director Richard Hotchkiss effective September 16, 2025, highlighting his significant contributions to the company during his tenure [1][5]. Company Overview - Fidelity D & D Bancorp, Inc. is the parent company of The Fidelity Deposit and Discount Bank, a community bank headquartered in Dunmore, PA, and operates 21 full-service offices across several counties [1][6]. - The bank offers a range of services including personal and commercial banking products, wealth management, and digital banking options [6]. Director's Background - Richard Hotchkiss joined the Fidelity Bank Board of Directors on May 5, 2020, following a merger and has held various leadership roles, including Chair of the Credit Administration Committee [2][3]. - Prior to his role at Fidelity Bank, he had a long career in administration and internal affairs at MNB Corporation and Merchants Bank of Bangor, where he was elected Chairman of the Board in 1997 [3]. Leadership Acknowledgment - The President & CEO of Fidelity Bank, Daniel J. Santaniello, expressed gratitude for Hotchkiss's leadership and the lasting impact he made on the organization [5]. - The Chairman of the Board, Brian J. Cali, acknowledged Hotchkiss's commitment to shaping the bank's governance and organizational structure [5]. Community Engagement - Fidelity Bank emphasizes its commitment to the community, having provided over 5,960 hours of volunteer time and over $1.3 million in donations to non-profit organizations in 2024 [6].

Core Insights - Fidelity D & D Bancorp, Inc. reported strong financial results for the second quarter and first half of 2025, with net income increasing by 40% year-over-year for the quarter and 29% for the year-to-date period [2][3][4]. Financial Performance - For the quarter ended June 30, 2025, net income was $6.9 million, or $1.20 diluted earnings per share, compared to $4.9 million, or $0.86 diluted earnings per share, for the same quarter in 2024, marking a $2.0 million increase [2][4]. - Year-to-date net income for the six months ended June 30, 2025, was $12.9 million, or $2.23 diluted earnings per share, up from $10.0 million, or $1.73 diluted earnings per share, for the same period in 2024, reflecting a $2.9 million increase [3][5]. Revenue Breakdown - The increase in net income for the second quarter was primarily driven by a $2.8 million increase in net interest income and a $0.8 million increase in non-interest income [2][4]. - For the six months ended June 30, 2025, net interest income rose by $4.9 million, attributed to a $6.4 million increase in interest income, driven by a $181.0 million increase in the average balance of interest-earning assets [13][14]. Expense Management - Non-interest expenses increased by $1.1 million, or 8%, for the second quarter of 2025, primarily due to higher salaries and benefits [11][17]. - Year-to-date non-interest expenses rose to $29.3 million, an increase of $2.0 million, or 7%, compared to the same period in 2024 [17]. Asset Quality - Total non-performing assets decreased to $3.5 million, or 0.13% of total assets, at June 30, 2025, down from $7.8 million, or 0.30% of total assets, at December 31, 2024 [22]. - The provision for credit losses on loans was $755 thousand for the six months ended June 30, 2025, compared to $400 thousand for the same period in 2024 [15]. Balance Sheet Highlights - As of June 30, 2025, total assets were $2.7 billion, an increase of $114.0 million from December 31, 2024, driven by growth in cash and cash equivalents and the loans and leases portfolio [19][21]. - Shareholders' equity increased by $13.9 million, or 7%, to $217.9 million at June 30, 2025, from $204.0 million at December 31, 2024 [21]. Capital Position - The company remains well-capitalized, with Tier 1 capital at 9.16% of total average assets and total risk-based capital at 14.72% of risk-weighted assets as of June 30, 2025 [21].