Parent Company Only

12 Months Ended

Dec. 31, 2013

Parent Company Only [Abstract]

Parent Company Only

20. 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)	2013		2012
Assets:
Cash	$	2	$	2
Investment in subsidiary		65,716		58,577
Securities available-for-sale		523		466
Other assets		-		-
Total	$	66,241	$	59,045
Liabilities and shareholders' equity:
Liabilities	$	181	$	99
Capital stock and retained earnings		64,821		58,710
Accumulated other comprehensive income		1,239		236
Total	$	66,241	$	59,045

Condensed Income Statements	Years ended December 31,
(dollars in thousands)	2013		2012		2011
Income:
Equity in undistributed earnings of subsidiary	$	6,173	$	3,996	$	4,184
Dividends from subsidiary		1,190		1,131		1,043
Gain on sale of investment securities		-		-		27
Other income		20		20		19
Total income		7,383		5,147		5,273
Operating expenses		388		347		317
Income before taxes		6,995		4,800		4,956
Credit for income taxes		127		102		89
Net income	$	7,122	$	4,902	$	5,045

Statements of Comprehensive Income	Years ended December 31,
(dollars in thousands)	2013		2012		2011
Bancorp net loss	$	(241)	$	(225)	$	(183)
Equity in net income of subsidiary		7,363		5,127		5,228
Net income		7,122		4,902		5,045
Other comprehensive income, before tax:
Unrealized holding gains on available-for-sale
securities		58		27		17
Reclassification adjustment for gains realized in
income		-		-		(27)
Net unrealized gains (losses)		58		27		(10)
Tax effect		(20)		(9)		3
Unrealized gain (loss), net of tax		38		18		(7)
Equity in other comprehensive income of subsidiary		965		1,328		2,714
Other comprehensive income, net of tax		1,003		1,346		2,707
Total comprehensive income, net of tax	$	8,125	$	6,248	$	7,752

Condensed Statements of Cash Flows	Years ended December 31,
(dollars in thousands)	2013		2012		2011
Cash flows from operating activities:
Net income	$	7,122	$	4,902	$	5,045
Adjustments to reconcile net income to net cash used in operations:
Equity in earnings of subsidiary		(7,363)		(5,127)		(5,228)
Stock-based compensation expense		112		15		24
Gain on sale of investment securities		-		-		(27)
Changes in other assets and liabilities, net		62		20		14
Net cash used in operating activities		(67)		(190)		(172)
Cash flows provided by investing activities:
Dividends received from subsidiary		1,190		1,131		1,043
Proceeds from sales of investment securities		-		-		55
Net cash provided by investing activities		1,190		1,131		1,098
Cash flows used in financing activities:
Dividends paid, net of dividend reinvestment		(1,596)		(1,493)		(1,478)
Cash contributions from dividend reinvestment plan		395		486		485
Withholdings to purchase capital stock		78		67		67
Net cash used in financing activities		(1,123)		(941)		(926)
Net change in cash		-		-		-
Cash, beginning		2		2		2
Cash, ending	$	2	$	2	$	2