FIDELITY D & D BANCORP INC

For the period ended Apr 22, 2026. Filed Apr 22, 2026.

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Apr 22, 2026 · Filed Apr 22, 2026

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Contents

EX-99.1 · Forward-looking statements

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 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 Company’s actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation:

■	local, regional and national economic conditions and changes thereto;
■	the short-term and long-term effects of inflation, and rising costs to the Company, its customers and on the economy;
■	the risks of changes and volatility of 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;
■	securities markets and monetary fluctuations and volatility;
■	disruption of credit and equity markets;
■	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 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;
■	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 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;

■	the effects of economic conditions of any other pandemic, epidemic or other health-related crisis such as COVID-19 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 effects of bank failures, banking system instability, deposit fluctuations, loan and securities value changes;
■	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;
■	acts of war, terrorism, or armed conflict; 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 release. The Company has no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release.

For more information please visit our investor relations web site located through www.bankatfidelity.com.

Unaudited Condensed Consolidated Balance Sheets

(dollars in thousands)

At Period End:	March 31, 2026	December 31, 2025
Assets
Cash and cash equivalents	$154,995	$148,060
Investment securities	512,308	523,946
Restricted investments in bank stock	4,482	4,373
Loans and leases	2,023,671	1,911,724
Allowance for credit losses on loans	(20,942)	(20,168)
Premises and equipment, net	52,738	48,950
Life insurance cash surrender value	59,792	59,396
Goodwill and core deposit intangible	20,181	20,242
Other assets	52,040	51,535
Total assets	$2,859,265	$2,748,058
Liabilities
Non-interest-bearing deposits	$574,808	$552,581
Interest-bearing deposits	2,001,686	1,914,772
Total deposits	2,576,494	2,467,353
Short-term borrowings	10	20
Secured borrowings	4,825	5,995
Other liabilities	33,284	35,830
Total liabilities	2,614,613	2,509,198
Shareholders' equity	244,652	238,860
Total liabilities and shareholders' equity	$2,859,265	$2,748,058

Average Year-To-Date Balances:	March 31, 2026	December 31, 2025
Assets
Cash and cash equivalents	$175,362	$133,171
Investment securities	523,776	544,390
Restricted investments in bank stock	4,427	4,189
Loans and leases	1,945,837	1,866,637
Allowance for credit losses on loans	(20,289)	(20,315)
Premises and equipment, net	50,358	40,457
Life insurance cash surrender value	59,656	58,786
Goodwill and core deposit intangible	20,203	20,358
Other assets	50,183	42,032
Total assets	$2,809,513	$2,689,705
Liabilities
Non-interest-bearing deposits	$558,264	$543,794
Interest-bearing deposits	1,964,972	1,884,507
Total deposits	2,523,236	2,428,301
Short-term borrowings	16	17
Secured borrowings	5,557	6,127
Other liabilities	36,931	36,296
Total liabilities	2,565,740	2,470,741
Shareholders' equity	243,773	218,964
Total liabilities and shareholders' equity	$2,809,513	$2,689,705

Unaudited Condensed Consolidated Statements of Income

(dollars in thousands)

	Three Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Interest income
Loans and leases	$26,618	$24,596
Securities and other	3,842	3,712
Total interest income	30,460	28,308
Interest expense
Deposits	(10,981)	(11,187)
Borrowings	(73)	(88)
Total interest expense	(11,054)	(11,275)
Net interest income	19,406	17,033
Provision for credit losses on loans	(875)	(455)
Net (provision) benefit for credit losses on unfunded loan commitments	(90)	85
Non-interest income	5,189	4,973
Non-interest expense	(15,191)	(14,554)
Income before income taxes	8,439	7,082
Provision for income taxes	(979)	(1,091)
Net income	$7,460	$5,991

	Three Months Ended
	Mar. 31, 2026	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025
Interest income
Loans and leases	$26,618	$27,269	$26,660	$25,328	$24,596
Securities and other	3,842	3,815	4,022	4,437	3,712
Total interest income	30,460	31,084	30,682	29,765	28,308
Interest expense
Deposits	(10,981)	(11,717)	(12,158)	(11,738)	(11,187)
Borrowings	(73)	(87)	(95)	(98)	(88)
Total interest expense	(11,054)	(11,804)	(12,253)	(11,836)	(11,275)
Net interest income	19,406	19,280	18,429	17,929	17,033
Provision for credit losses on loans	(875)	(100)	(200)	(300)	(455)
Net (provision) benefit for credit losses on unfunded loan commitments	(90)	(170)	(110)	(20)	85
Non-interest income	5,189	5,122	5,105	5,359	4,973
Non-interest expense	(15,191)	(14,921)	(14,632)	(14,710)	(14,554)
Income before income taxes	8,439	9,211	8,592	8,258	7,082
Provision for income taxes	(979)	(1,271)	(1,246)	(1,337)	(1,091)
Net income	$7,460	$7,940	$7,346	$6,921	$5,991

Unaudited Condensed Consolidated Balance Sheets

(dollars in thousands)

At Period End:	Mar. 31, 2026	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025
Assets
Cash and cash equivalents	$154,995	$148,060	$142,161	$165,495	$211,195
Investment securities	512,308	523,946	529,263	545,821	540,960
Restricted investments in bank stock	4,482	4,373	4,301	4,240	4,021
Loans and leases	2,023,671	1,911,724	1,914,893	1,837,477	1,817,509
Allowance for credit losses on loans	(20,942)	(20,168)	(20,218)	(19,976)	(20,017)
Premises and equipment, net	52,738	48,950	45,422	40,097	34,995
Life insurance cash surrender value	59,792	59,396	58,995	58,849	58,458
Goodwill and core deposit intangible	20,181	20,242	20,303	20,364	20,431
Other assets	52,040	51,535	41,630	46,208	43,758
Total assets	$2,859,265	$2,748,058	$2,736,750	$2,698,575	$2,711,310
Liabilities
Non-interest-bearing deposits	$574,808	$552,581	$539,118	$558,074	$555,684
Interest-bearing deposits	2,001,686	1,914,772	1,927,795	1,877,254	1,901,775
Total deposits	2,576,494	2,467,353	2,466,913	2,435,328	2,457,459
Short-term borrowings	10	20	20	10	10
Secured borrowings	4,825	5,995	6,059	6,134	6,190
Other liabilities	33,284	35,830	34,511	39,191	35,977
Total liabilities	2,614,613	2,509,198	2,507,503	2,480,663	2,499,636
Shareholders' equity	244,652	238,860	229,247	217,912	211,674
Total liabilities and shareholders' equity	$2,859,265	$2,748,058	$2,736,750	$2,698,575	$2,711,310

Average Quarterly Balances:	Mar. 31, 2026	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025
Assets
Cash and cash equivalents	$175,362	$150,706	$122,808	$161,316	$97,384
Investment securities	523,776	529,518	544,476	546,149	557,726
Restricted investments in bank stock	4,427	4,345	4,277	4,158	3,973
Loans and leases	1,945,837	1,927,366	1,892,439	1,832,162	1,813,040
Allowance for credit losses on loans	(20,289)	(20,478)	(20,400)	(20,357)	(20,019)
Premises and equipment, net	50,358	47,400	42,602	35,954	35,722
Life insurance cash surrender value	59,656	59,255	58,875	58,697	58,307
Goodwill and core deposit intangible	20,203	20,263	20,325	20,386	20,459
Other assets	50,183	39,527	42,724	42,729	43,177
Total assets	$2,809,513	$2,757,902	$2,708,126	$2,681,194	$2,609,769
Liabilities
Non-interest-bearing deposits	$558,264	$549,911	$544,511	$547,278	$533,286
Interest-bearing deposits	1,964,972	1,930,040	1,901,166	1,878,548	1,826,957
Total deposits	2,523,236	2,479,951	2,445,677	2,425,826	2,360,243
Short-term borrowings	16	20	16	10	22
Secured borrowings	5,557	6,028	6,093	6,162	6,226
Other liabilities	36,931	37,754	36,415	36,050	34,937
Total liabilities	2,565,740	2,523,753	2,488,201	2,468,048	2,401,428
Shareholders' equity	243,773	234,149	219,925	213,146	208,341
Total liabilities and shareholders' equity	$2,809,513	$2,757,902	$2,708,126	$2,681,194	$2,609,769

Selected Financial Ratios and Other Financial Data

	Three Months Ended
	Mar. 31, 2026	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025
Selected returns and financial ratios
Basic earnings per share	$1.29	$1.38	$1.27	$1.20	$1.04
Diluted earnings per share	$1.28	$1.37	$1.27	$1.20	$1.03
Dividends per share	$0.43	$0.43	$0.40	$0.40	$0.40
Yield on interest-earning assets (FTE)*	4.77%	4.83%	4.83%	4.77%	4.73%
Cost of interest-bearing liabilities	2.27%	2.42%	2.55%	2.52%	2.49%
Cost of funds	1.77%	1.88%	1.98%	1.95%	1.93%
Net interest spread (FTE)*	2.50%	2.41%	2.28%	2.25%	2.24%
Net interest margin (FTE)*	3.08%	3.04%	2.95%	2.92%	2.89%
Return on average assets	1.08%	1.14%	1.08%	1.04%	0.93%
Pre-provision net revenue to average assets*	1.36%	1.36%	1.30%	1.28%	1.16%
Return on average equity	12.41%	13.45%	13.25%	13.02%	11.66%
Return on average tangible equity*	13.53%	14.73%	14.60%	14.40%	12.93%
Efficiency ratio (FTE)*	58.53%	58.35%	60.17%	61.17%	61.67%
Expense ratio	1.36%	1.36%	1.39%	1.40%	1.37%

Other financial data	At period end:
(dollars in thousands except per share data)	Mar. 31, 2026	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025
Assets under management	$1,096,776	$1,058,881	$1,037,414	$1,030,268	$955,647
Book value per share	$42.14	$41.39	$39.75	$37.78	$36.70
Tangible book value per share*	$38.67	$37.88	$36.23	$34.25	$33.16
Equity to assets	8.56%	8.69%	8.38%	8.08%	7.81%
Tangible common equity ratio*	7.91%	8.01%	7.69%	7.38%	7.11%
Allowance for credit losses on loans to:
Total loans	1.04%	1.06%	1.06%	1.09%	1.10%
Non-accrual loans	8.65x	10.66x	7.78x	6.50x	3.36x
Non-accrual loans to total loans	0.12%	0.10%	0.14%	0.17%	0.33%
Non-performing assets to total assets	0.09%	0.08%	0.11%	0.13%	0.23%
Net charge-offs to average total loans	0.02%	0.03%	0.03%	0.05%	0.02%
Capital Adequacy Ratios
Total risk-based capital ratio	14.45%	14.78%	14.52%	14.72%	14.74%
Common equity tier 1 risk-based capital ratio	13.33%	13.65%	13.39%	13.57%	13.57%
Tier 1 risk-based capital ratio	13.33%	13.65%	13.39%	13.57%	13.57%
Leverage ratio	9.38%	9.34%	9.27%	9.16%	9.22%

* Non-GAAP Financial Measures - see reconciliations below

Reconciliations of Non-GAAP Financial Measures to GAAP

Reconciliations of Non-GAAP Measures to GAAP	Three Months Ended
(dollars in thousands)	Mar. 31, 2026	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025
FTE net interest income (non-GAAP)
Interest income (GAAP)	$30,460	$31,084	$30,682	$29,765	$28,308
Adjustment to FTE	784	800	785	760	771
Interest income adjusted to FTE (non-GAAP)	31,244	31,884	31,467	30,525	29,079
Interest expense (GAAP)	11,054	11,804	12,253	11,836	11,275
Net interest income adjusted to FTE (non-GAAP)	$20,190	$20,080	$19,214	$18,689	$17,804
Efficiency Ratio (non-GAAP)
Non-interest expenses (GAAP)	$15,191	$14,921	$14,632	$14,710	$14,554
Net interest income (GAAP)	19,406	19,280	18,429	17,929	17,033
Plus: taxable equivalent adjustment	784	800	785	760	771
Non-interest income (GAAP)	5,189	5,122	5,105	5,359	4,973
Loss (Gain) on sales of securities	577	371	(3)	-	822
Net interest income (FTE) plus adjusted non-interest income (non-GAAP)	$25,956	$25,573	$24,316	$24,048	$23,599
Efficiency ratio (non-GAAP) (1)	58.53%	58.35%	60.17%	61.17%	61.67%
(1) The reported efficiency ratio is a non-GAAP measure calculated by dividing non-interest expense by the sum of net interest income, on an FTE basis, and adjusted non-interest income.
Tangible Book Value per Share/Tangible Common Equity Ratio (non-GAAP)
Total assets (GAAP)	$2,859,265	$2,748,058	$2,736,750	$2,698,575	$2,711,310
Less: Intangible assets	(20,181)	(20,242)	(20,303)	(20,364)	(20,431)
Tangible assets	2,839,084	2,727,816	2,716,447	2,678,211	2,690,879
Total shareholders' equity (GAAP)	244,652	238,860	229,247	217,912	211,674
Less: Intangible assets	(20,181)	(20,242)	(20,303)	(20,364)	(20,431)
Tangible common equity	224,471	218,618	208,944	197,548	191,243
Common shares outstanding, end of period	5,805,180	5,771,110	5,767,288	5,767,490	5,767,500
Tangible Common Book Value per Share	$38.67	$37.88	$36.23	$34.25	$33.16
Tangible Common Equity Ratio	7.91%	8.01%	7.69%	7.38%	7.11%
Pre-Provision Net Revenue to Average Assets
Income before taxes (GAAP)	$8,439	$9,211	$8,592	$8,258	$7,082
Plus: Provision for credit losses	965	270	310	320	370
Total pre-provision net revenue (non-GAAP)	9,404	9,481	8,902	8,578	7,452
Total (annualized) (non-GAAP)	$38,139	$37,615	$35,316	$34,404	$30,220
Average assets	$2,809,513	$2,757,902	$2,708,126	$2,681,194	$2,609,769
Pre-Provision Net Revenue to Average Assets (non-GAAP)	1.36%	1.36%	1.30%	1.28%	1.16%

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