FIDELITY D & D BANCORP INC (NASDAQ:FDBC) reported a significant increase in its financial results for the third quarter ended September 30, 2025, with net income surging by 48% to $7.3 million, or $1.27 per diluted share, compared to $5.0 million, or $0.86 per diluted share, for the same period in 2024.
The $2.3 million increase in net income was primarily driven by a $3.0 million rise in net interest income and a $0.5 million decrease in the provision for credit losses on loans and unfunded commitments. These gains were partially offset by an $0.8 million increase in non-interest expense and a $0.4 million increase in the provision for income taxes. Net interest income for Q3 2025 reached $18.4 million, marking a 19% increase from $15.4 million in the prior year. Daniel J. Santaniello, President and Chief Executive Officer, stated the results were 'paced by the effectiveness of our long-term targeted relationship strategy'.
For the nine months ended September 30, 2025, net income was $20.3 million, or $3.50 per diluted share, a 35% increase from $15.0 million, or $2.59 per diluted share, for the same period in 2024. This growth was attributed to a $7.9 million increase in net interest income and a $1.3 million increase in non-interest income. Total assets reached $2.7 billion as of September 30, 2025, representing a $152.1 million increase from December 31, 2024. Total non-performing assets improved significantly, falling to $3.0 million, or 0.11% of total assets, from $7.8 million, or 0.30%, at December 31, 2024.
