Fidelity Bank announces net income increase

Jan. 25—Fidelity D&D Bancorp Inc. and its banking subsidiary, The Fidelity Deposit and Discount Bank, announced net income of $30 million, or $5.29 diluted earnings per share, in 2022, a 25% increase over the $24 million, or $4.48 diluted earnings per share, in 2021.

The increase resulted from a $10.5 million improvement in net interest income which more than offset $1.6 million less non-interest income, $1.2 million in additional non-interest expenses and a $1.4 million higher provision for income taxes.

The acquisition of Landmark Bancorp Inc. during the third quarter of 2021 resulted in growth in Fidelity's earning assets which contributed to net interest income growth.