Fidelity D & D Bancorp, Inc. (FDBC) 2019年年度报告「NASDAQ」.pdf

1、w hatu ssFIDELITY D&D BANCORP,INC.2019 ANNUAL REPORTy ou.3WHAT DRIVES US|FIDELITY D&D BANCORP,INC.|2019 ANNUAL REPORT T he Board of Di rec tors and the Fi del i ty Bank ers are very pl eased to report that the Company ended the year wi th net i nc ome of$11.6 mi l l i on,or$3.03 di l uted earni ngs

2、per share.T he Fi del i ty Bank ers c onti nue to exec ute a strategi c vi son that provi des retai l and busi ness c l i ents wi th financ i al produc ts and servi c es based upon thei r needs.T he strategi c f oc us on bui l di ng mutual l y benefic i al rel ati onshi ps wi th c l i ents and c rea

3、ti ng financ i al suc c ess f or al l k ey stak ehol ders c onti nues to generate growth i n l oans,deposi ts,non-i nterest i nc ome,and c api tal,produc i ng exc epti onal sharehol der val ue.I n September,f or the first ti me i n the Companys 118-year hi story,total assets exc eeded$1 bi l l i on.

4、T he c onti nued c ommi tment to provi de c l i ents wi th an exc epti onal experi enc e and to bui l d l ong-l asti ng rel ati onshi ps through a val ue-added banki ng experi enc e has both di fferenti ated and el evated the Fi del i ty Bank brand f rom i ts c ompeti ti on.T he c urrent ec onomi c

5、expansi on,whi c h began roughl y a dec ade ago,bec ame the l ongest i n Uni ted States hi story i n 2019,surpassi ng the previ ous rec ord that l asted f rom Marc h 1991 through Marc h 2001.As the year c ame to a c l ose,Ameri c a had a hi ghl y empl oyed,but sl owi ng ec onomy.T he nati ons unempl

6、 oyment l evel ended the year at nearl y a 50-year l ow at 3.7%,wi th wages ri si ng.Goi ng i nto 2019,the expec tati ons were that the Federal Open Mark et Commi ttee(FOMC)woul d c onti nue to i nc rease the f ederal f unds target.However,i n response to a sl owi ng ec onomy i n J ul y 2019,the FOM