Parent Company Only

12 Months Ended

Dec. 31, 2019

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)	2019		2018
Assets:
Cash	$	63	$	232
Investment in subsidiary		107,115		93,669
Other assets		107		106
Total	$	107,285	$	94,007
Liabilities and shareholders' equity:
Liabilities	$	449	$	450
Capital stock and retained earnings		103,234		94,652
Accumulated other comprehensive income (loss)		3,602		(1,095)
Total	$	107,285	$	94,007

Condensed Income Statements	Years ended December 31,
(dollars in thousands)	2019		2018		2017
Income:
Equity in undistributed earnings of subsidiary	$	8,839	$	9,273	$	6,685
Dividends from subsidiary		4,037		2,723		2,574
Gain on sale of investment securities		-		44		-
Other income		-		11		22
Total income		12,876		12,051		9,281
Operating expenses		1,598		1,269		1,094
Income before taxes		11,278		10,782		8,187
Credit for income taxes		298		224		529
Net income	$	11,576	$	11,006	$	8,716

Statements of Comprehensive Income	Years ended December 31,
(dollars in thousands)	2019		2018		2017
Bancorp net loss	$	(1,300)	$	(990)	$	(542)
Equity in net income of subsidiary		12,876		11,996		9,258
Net income		11,576		11,006		8,716
Other comprehensive income (loss), before tax:
Unrealized holding gains on available-for-sale securities		-		-		197
Tax effect		-		-		(67)
Unrealized gain, net of tax		-		-		130
Equity in other comprehensive income (loss) of subsidiary		4,697		(2,478)		(4)
Other comprehensive income (loss), net of tax		4,697		(2,478)		126
Total comprehensive income, net of tax	$	16,273	$	8,528	$	8,842

Condensed Statements of Cash Flows	Years ended December 31,
(dollars in thousands)	2019		2018		2017
Cash flows from operating activities:
Net income	$	11,576	$	11,006	$	8,716
Adjustments to reconcile net income to net cash used in operations:
Equity in earnings of subsidiary		(12,876)		(11,996)		(9,258)
Stock-based compensation expense		817		749		550
Deferred income tax		2		(60)		(69)
Gain on sale of investment securities		-		(44)		-
Changes in other assets and liabilities, net		137		12		(26)
Net cash used in operating activities		(344)		(333)		(87)
Cash flows provided by investing activities:
Dividends received from subsidiary		4,037		2,723		2,574
Proceeds from sales of investment securities		-		871		-
Net cash provided by investing activities		4,037		3,594		2,574
Cash flows used in financing activities:
Dividends paid, net of dividend reinvestment		(4,037)		(3,397)		(2,954)
Exercise of stock options		-		14		416
Withholdings to purchase capital stock		175		149		126
Cash paid in lieu of fractional shares		-		-		(11)
Net cash used in financing activities		(3,862)		(3,234)		(2,423)
Net change in cash		(169)		27		64
Cash, beginning		232		205		141
Cash, ending	$	63	$	232	$	205