FDBC - Fidelity Bank buys Scranton Electric Building for new headquarters

Fidelity Bank, part of Fidelity D&D Bancorp (NASDAQ:FDBC) has purchased the Scranton Electric Building in Scranton, Pennsylvania, for its new corporate headquarters, the company said Thursday in a statement. Acquiring the building, which was built in 1896, will allow Fidelity Bank (FDBC) to centralize many of the corporate functions that are currently spread across a few different buildings, said President and cEO Daniel J. Santaniello. Since 2011, the number of its bankers has more than doubled and its assets increased by more than $1.8B. The entire project is expected to cost $20M. The bank has received $4M in funding for the project through Pennsylvania's Redevelopment Assistance Capital Program, Fidelity (FDBC) said. Last year, Fidelity D&D (FDBC) acquired Landmark Bancorp for ~$43.4M.

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Fidelity Bank buys Scranton Electric Building for new headquarters