Note 19 - Parent Company Only

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

19. PARENT COMPANY ONLY

The following is the condensed financial information for Fidelity D & D Bancorp, Inc. on a parent company only basis as of and for the years indicated:

Condensed Balance Sheets	As of December 31,
(dollars in thousands)	2024			2023
Assets:
Cash	$	1,639		$	1,992
Investment in subsidiary		202,617			187,921
Other assets		262			213
Total	$	204,518		$	190,126
Liabilities and shareholders' equity:
Liabilities	$	549		$	646
Capital stock and retained earnings		259,543			245,947
Accumulated other comprehensive income (loss)		(55,574	)		(56,467	)
Total	$	204,518		$	190,126

Condensed Income Statements	Years ended December 31,
(dollars in thousands)	2024		2023
Income:
Equity in undistributed earnings of subsidiary	$	13,802	$	11,941
Dividends from subsidiary		8,932		8,387
Total income		22,734		20,328
Operating expenses		2,421		2,793
Income before taxes		20,313		17,535
Credit for income taxes		481		675
Net income	$	20,794	$	18,210

Statements of Comprehensive Income	Years ended December 31,
(dollars in thousands)	2024			2023
Bancorp net loss	$	(1,940	)	$	(2,118	)
Equity in net income of subsidiary		22,734			20,328
Net income		20,794			18,210
Equity in other comprehensive income of subsidiary		893			14,685
Other comprehensive income, net of tax		893			14,685
Total comprehensive income, net of tax	$	21,687		$	32,895

Condensed Statements of Cash Flows	Years ended December 31,
(dollars in thousands)	2024			2023
Cash flows from operating activities:
Net income	$	20,794		$	18,210
Adjustments to reconcile net income to net cash used in operations:
Depreciation, amortization and accretion		4			4
Equity in earnings of subsidiary		(22,734	)		(20,328	)
Stock-based compensation expense		1,451			1,648
Deferred income tax provision (benefit)		(49	)		10
Changes in other assets and liabilities, net		(103	)		114
Net cash used in operating activities		(637	)		(342	)
Cash flows provided by investing activities:
Dividends received from subsidiary		8,932			8,387
Net cash provided by investing activities		8,932			8,397
Cash flows used in financing activities:
Dividends paid, net of dividend reinvestment		(8,849	)		(6,750	)
Withholdings to purchase capital stock		280			302
Repurchase of shares to cover withholdings		(79	)		(239	)
Net cash used in financing activities		(8,648	)		(6,687	)
Net change in cash		(353	)		1,358
Cash, beginning		1,992			634
Cash, ending	$	1,639		$	1,992