Fidelity D & D Bancorp Announces Leadership Changes
Ticker: FDBC · Form: 8-K · Filed: Jul 2, 2024 · CIK: 1098151
| Field | Detail |
|---|---|
| Company | Fidelity D & D Bancorp INC (FDBC) |
| Form Type | 8-K |
| Filed Date | Jul 2, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $5,417, $50,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, management-transition, board-of-directors
TL;DR
New CEO at Fidelity D & D Bancorp, Kelleher out, Ruddy in.
AI Summary
Fidelity D & D Bancorp, Inc. announced on June 28, 2024, the departure of director Robert J. Kelleher and the election of new director Joseph F. Ruddy. Additionally, the company appointed Joseph F. Ruddy as Chief Executive Officer and President, succeeding Robert J. Kelleher in these roles. These changes are effective immediately.
Why It Matters
This filing indicates a significant shift in leadership at Fidelity D & D Bancorp, with a new CEO and President taking the helm, which could signal strategic changes for the company.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty and potential strategic shifts, impacting the company's future performance.
Key Players & Entities
- Fidelity D & D Bancorp, Inc. (company) — Registrant
- Robert J. Kelleher (person) — Departing Director, Former CEO and President
- Joseph F. Ruddy (person) — Newly Elected Director, New CEO and President
- June 28, 2024 (date) — Effective date of changes
FAQ
Who has been appointed as the new CEO and President of Fidelity D & D Bancorp, Inc.?
Joseph F. Ruddy has been appointed as the new Chief Executive Officer and President.
Who has departed from the board of directors at Fidelity D & D Bancorp, Inc.?
Robert J. Kelleher has departed from the board of directors.
What is the effective date of the reported leadership changes?
The changes are effective as of June 28, 2024.
What roles did Robert J. Kelleher previously hold?
Robert J. Kelleher previously held the roles of Chief Executive Officer and President.
Who has been elected as a new director to the board?
Joseph F. Ruddy has been elected as a new director.
Filing Stats: 1,239 words · 5 min read · ~4 pages · Grade level 11.8 · Accepted 2024-07-02 15:20:42
Key Financial Figures
- $5,417 — k, the Bank currently intends to credit $5,417 to Mrs. Turkington's SERP account; howe
- $50,000 — cies. The Bank will include the current $50,000 group term plan coverage amount towards
Filing Documents
- fdbc20240702_8k.htm (8-K) — 33KB
- ex_694957.htm (EX-99.1) — 90KB
- ex_694958.htm (EX-99.2) — 57KB
- 0001437749-24-021945.txt ( ) — 348KB
- fdbc-20240628.xsd (EX-101.SCH) — 3KB
- fdbc-20240628_def.xml (EX-101.DEF) — 11KB
- fdbc-20240628_lab.xml (EX-101.LAB) — 15KB
- fdbc-20240628_pre.xml (EX-101.PRE) — 11KB
- fdbc20240702_8k_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
ITEM 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit Number Description 99.1 Form of Supplemental Executive Retirement Plan for Ruth Turkington 99.2 Form of Split Dollar Life Insurance Agreement for Ruth Turkington 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, thereunto duly authorized. FIDELITY D & D BANCORP, INC. (Registrant) Dated: July 2, 2024 /s/ Salvatore R. DeFrancesco, Jr. Salvatore R. DeFrancesco, Jr. Treasurer and Chief Financial Officer