Capital allocation remains disciplined, with quarterly dividend payments consistently ranging between $2.1 million and $2.5 million, supported by strong earnings retention.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 |
|---|
| Cash from Operations | 37.49M | 42.36M | 29.56M | 29.69M | 49.43M | 7.2M | 296K | 25.79M | 13.65M | 13.89M | 15.86M | 15.72M | 7.9M | 23.06M | 4.54M | 15.08M | 14.39M | 11.79M | 35.79M | 4.56M | 5.87M | 6.7M | 13.49M | 17.8M | 7.58M | 6.79M | 5.03M |
| Operating CF Growth % | 45.57% | 43.29% | -0.43% | -39.93% | 586.58% | 2332.09% | -98.85% | 88.91% | -1.71% | -12.43% | 0.85% | 99.1% | -65.75% | 407.48% | -69.88% | 4.83% | 21.99% | -67.04% | 684.31% | -22.28% | -12.35% | -50.36% | -24.18% | 134.77% | 11.69% | 34.97% | - |
| Net Income | 29.67M | 28.2M | 20.79M | 18.21M | 30.02M | 24.01M | 13.04M | 11.58M | 11.01M | 8.72M | 7.69M | 7.1M | 6.35M | 7.12M | 4.9M | 5.04M | -3.2M | -1.4M | 3.64M | 4.61M | 4.13M | 4.59M | 3.36M | 1.64M | 4.05M | 3.85M | 3.18M |
| Depreciation & Amortization | 5.53M | 5.5M | 5.67M | 5.7M | 5.25M | 5.42M | 4.54M | 3.3M | 3.03M | 3.11M | 3.3M | 3.57M | 3.14M | 3.32M | 3.47M | 3.24M | 2.33M | 1.6M | 611.43K | 1.13M | 1.35M | 1.49M | 1.86M | 3.15M | 1.53M | 1.1M | 996.67K |
| Deferred Taxes | -1.26M | -1.5M | -1.17M | -593K | 1.83M | 1.19M | -400K | 341K | 1.02M | -666K | 1.25M | 1.65M | 156K | 6.17M | -452K | -115K | -4.12M | -1.78M | -2.94K | 78.84K | -75K | -318.95K | -625.99K | -564.57K | 231.93K | -56.12K | 473.83K |
| Other Non-Cash Items | 3.82M | 8.55M | 104K | 4.32M | 11.38M | -27.64M | -17.75M | 10.12M | -1.85M | 5.2M | 4.71M | 1.76M | -188K | 11.75M | -306K | 2.15M | 18.55M | 17.69M | 33.32M | -364.34K | 357.74K | 1.26M | 2.47M | 13.11M | 1.27M | 1.68M | 774.16K |
| Working Capital Changes | -1.37M | 527K | 2.72M | 408K | -331K | 3.12M | -202K | -368K | -305K | -3.03M | -1.62M | 1.43M | -1.77M | -5.42M | -3.09M | 4.73M | 836K | -4.32M | -1.9M | -893.24K | 113.22K | -329.93K | 6.43M | 458.87K | 501.3K | 211.53K | -398.65K |
| Cash from Investing | -201.93M | -95.25M | -113.59M | -35.27M | -115.39M | -303.24M | -164.24M | -34M | -117.12M | -69.84M | -58.16M | -74.62M | -39.93M | -46.19M | -26.33M | -19.27M | -3.14M | 947.01K | -26.43M | -28.09M | -18.02M | -7.93M | 19.34M | -23.39M | -8.24M | -63.89M | -51.46M |
| Purchase of Investments | -14.75M | -25.14M | -15.39M | 0 | -42.09M | -411.41M | -271.5M | -43.38M | -63.57M | -55.02M | -30.65M | -65.42M | -33.64M | -37.11M | -27.75M | -55.96M | -51.7M | -39.61M | -54.59M | -38.4M | -47M | -24.27M | -13.08M | -120.35M | -138.44M | -146.01M | -5.9M |
| Sale/Maturity of Investments | 30.07M | 1.19M | 22.79M | 85.31M | 42.44M | 98.69M | 192.37M | 46M | 33.95M | 26.55M | 23.26M | 35.66M | 34.74M | 43.45M | 36.21M | 33.58M | 40.93M | 44.62M | 48.64M | 16.73M | 45.26M | 40.46M | 36.87M | 123.04M | 146.43M | 134.44M | 8.91M |
| Net Investment Activity | 15.32M | -23.95M | 7.4M | 85.31M | 353K | -312.72M | -79.14M | 2.61M | -29.62M | -28.47M | -7.39M | -29.76M | 1.1M | 6.34M | 8.46M | -22.39M | -10.77M | 5.01M | -5.95M | -21.67M | -1.74M | 16.19M | 23.79M | 2.68M | 7.99M | -11.57M | 3.02M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | -3.75M | 53M | 0 | 0 | 11.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -207.08M | -53.77M | -116.32M | -113.63M | -110.23M | 15.74M | -136.72M | -32.48M | -83.92M | -52.27M | -49.29M | -43.27M | -38.06M | -51.49M | -32.81M | 3.53M | 8.51M | -3M | -16.53M | -3.93M | -14.56M | -23.48M | -4.18M | -24.43M | -13.68M | -51.1M | -51.55M |
| Cash from Financing | 108.24M | 117.6M | 55.43M | 88.44M | -1.82M | 323.57M | 217.63M | 6.39M | 105.13M | 45.94M | 55.87M | 45.33M | 44.67M | 14.5M | -8.53M | 33.39M | 3.39M | -17.18M | -7M | 20.13M | 13.36M | 3.61M | -41.85M | -1.39M | 1.23M | 73.97M | 37.26M |
| Dividends Paid | -9.59M | -9.4M | -8.85M | -6.75M | -7.71M | -6.61M | -5.38M | -4.04M | -3.4M | -2.95M | -3.06M | -2.84M | -2.09M | -1.6M | -1.49M | -1.48M | -1.45M | -1.25M | -2M | -1.48M | -1.23M | -1.13M | -1.11M | -1.08M | -1.05M | -1.01M | -1.17M |
| Share Repurchases | -161K | -121K | -79K | -239K | -1.28M | 0 | 0 | -175K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -56.51K | -430.44K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 236K | 248K | 0 | 0 | 0 | 0 | 0 | 175K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | 75K | 127K | -79K | -239K | -1.28M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -56.51K | -430.44K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | -1.34M | -465K | -1000K | 1000K | 1000K | -1000K | -1000K | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 586K | -1000K | 959K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K |
| Other Financing | 119.33M | 127.34M | 182.68M | -8.16M | -2.66M | 352.17M | 278.56M | 65.73M | 40.2M | 13.41M | 82.91M | 33.93M | 57.43M | 15.51M | -589K | 33.91M | 23.83M | 25.72M | 7.66M | 15.37M | 30.84M | 13.88M | -35.83M | -12.35M | 6.01M | 68.47M | 44.94M |
| Net Change in Cash | -56.2M | 64.71M | -28.6M | 82.86M | -67.79M | 27.53M | 53.68M | -1.82M | 1.66M | -10.02M | 13.57M | -13.57M | 12.63M | -8.63M | -30.32M | 29.2M | 14.64M | -4.44M | 2.36M | -3.39M | 1.21M | 2.38M | -9.02M | -6.99M | 574.27K | 16.87M | -9.18M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 148.06M | 83.35M | 111.95M | 29.09M | 96.88M | 69.35M | 15.66M | 17.48M | 15.82M | 25.84M | 12.28M | 25.85M | 13.22M | 21.85M | 52.16M | 22.97M | 8.33M | 12.77M | 10.41M | 13.8M | 12.59M | 10.22M | 19.23M | 26.22M | 25.64M | 8.78M | 17.96M |
| Cash at End | 155M | 148.06M | 83.35M | 111.95M | 29.09M | 96.88M | 69.35M | 15.66M | 17.48M | 15.82M | 25.84M | 12.28M | 25.85M | 13.22M | 21.85M | 52.16M | 22.97M | 8.33M | 12.77M | 10.41M | 13.8M | 12.59M | 10.22M | 19.23M | 26.22M | 25.64M | 8.78M |
| Interest Paid | 47.63M | 46.45M | 43.21M | 29.19M | 6.11M | 3.85M | 5.82M | 7.44M | 4.69M | 3.06M | 2.37M | 2.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 1.64M | 4.59M | 4.42M | 2.59M | 3.05M | 2.65M | 3.25M | 1.95M | 600K | 2.7M | 800K | 400K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 21.84M | 24.82M | 24.9M | 22.74M | 43.91M | 4.68M | -1.09M | 21.66M | 10.08M | 12.97M | 14.38M | 14.13M | 4.93M | 22.02M | 2.56M | 14.67M | 13.51M | 10.73M | 31.84M | 2.08M | 4.15M | 6.06M | 13.22M | 17.18M | 5.04M | 5.56M | 2.1M |
| FCF Growth % | -32.55% | -0.3% | 9.51% | -48.22% | 838.51% | 527.7% | -105.05% | 114.9% | -22.27% | -9.85% | 1.8% | 186.71% | -77.62% | 758.56% | -82.51% | 8.56% | 25.95% | -66.31% | 1433.35% | -49.95% | -31.53% | -54.15% | -23.06% | 240.93% | -9.44% | 165.14% | - |
CRE Concentration and Provisioning
Based on reported financial statements, FDBC has demonstrated consistent capital generation, with net income rising from $0.47 million in 2023Q4 to $7.5 million in 2026Q1, providing a stable foundation for funding organic loan growth while maintaining regulatory capital buffers across its expanding Pennsylvania footprint.
The bank's ability to generate internal capital appears sufficient to support its current expansion into the Lehigh Valley without immediate reliance on external equity markets. Investors should monitor whether the recent increase in provision expenses begins to erode this organic capital generation capacity over the coming quarters.
As indicated by the cash flow data, FDBC has actively managed its investment securities portfolio, with significant divestments totaling $23.4 million in 2025Q4 and $23.9 million in 2025Q1, suggesting a strategic effort to recycle liquidity into higher-yielding loan opportunities or to manage interest rate risk.
The periodic liquidation of securities appears to be a tactical response to balance sheet needs rather than a sign of distress. This activity warrants further investigation to determine if the bank is shortening the duration of its portfolio to mitigate potential AOCI volatility in a fluctuating rate environment.
According to historical cash flow filings, FDBC has maintained a disciplined approach to capital returns, with quarterly dividend payments consistently ranging between $2.1 million and $2.5 million, reflecting a commitment to shareholder value that appears sustainable given the bank's current earnings trajectory and capital position.
The minimal use of share buybacks suggests that management prioritizes retaining capital for organic growth and balance sheet resilience over aggressive equity reduction. This conservative stance appears appropriate given the competitive pressures of the bank's recent geographic expansion into new Pennsylvania markets.
Based on the provided figures, FDBC's provision for loan losses has shifted from a net benefit of $205,000 in 2023Q4 to a $965,000 expense in 2026Q1, indicating a more cautious stance on credit quality as the bank scales its commercial loan portfolio in a high-rate environment.
This transition from reserve releases to active builds suggests that management is proactively addressing potential credit deterioration within its CRE-heavy loan book. Analysts should monitor whether these provisions remain aligned with actual charge-off trends as the bank's newer loan vintages season in the competitive Lehigh Valley market.
Quick answers to the most common questions about buying FDBC stock.
Fidelity D & D Bancorp, Inc. (FDBC) generated $42.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Fidelity D & D Bancorp, Inc. (FDBC) generated $24.8M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Fidelity D & D Bancorp, Inc. (FDBC) spent $17.5M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Fidelity D & D Bancorp, Inc. (FDBC) returned $9.4M to shareholders via cash dividends and spent $0.1M on share repurchases. This shows the company's commitment to returning capital to its equity investors.