Fidelity D&D Bancorp Q3 net income rises on loan growth
FDBC•Fidelity D&D Bancorp’s third-quarter net income rose 21% year over year to $8.92 million. Adjusted EPS increased to $1.53 from $1.27, as higher loan balances and yields and lower funding costs lifted net interest income.
1. Quarterly results
The company said loan growth, improved loan yields and lower funding costs drove higher net interest income. Higher wealth management revenue, property-sale gains and commercial loan fees contributed to non-interest income growth, while staffing, technology expenses and a one-time donation increased non-interest expenses.
