Fidelity D and D Bancorp, Inc. [NASDAQ: FDBC] announced the acquisition of Landmark Bancorp, Inc. The company reported executing the contract in which Landmark will combine with and into a Fidelity acquisition division. Moreover, Landmark Community Bank will combine with and into Fidelity Bank (FFFL). One of the Landmark directors will be joining the board of directors of Fidelity and Fidelity Bank, separately.
Daniel J. Santaniello, Fidelity President, and CEO says , “We gladly welcome Landmark’s customers, investors, and financiers to the Fidelity family. Since its establishing, Landmark has shown systematic development and built up a strong repute in the market. The acquisition of Landmark gives proceeded acceleration in the execution of our strategic plan. Moreover, this transaction supports our position of solidarity in the community”
He further says “ We trust that Landmark customers will profit from the Fidelity Bank relationship banking model focusing on giving financial advice that will improve the item and service offerings to our clients.”
When the transaction is finished, Fidelity will have 25 retail local area banking workplaces in Northeast and Eastern Pennsylvania. Moreover, Fidelity Bank offers the capacity for its customers to apply for consumer deposits, personal and real estate loans through its online application measures. Landmark stockholders will get 0.272 shares of Fidelity stock and $3.26 in cash for each portion of Landmark stock that they own