FDBC - Fidelity D & D Bancorp acquires Landmark Bancorp for ~43.4M
Fidelity D & D Bancorp ([[FDBC]] -5.8%) the parent bank holding company of Fidelity Bank announces that Landmark Bancorp ([[LDKB]] +27.8%) will be merged and into a Fidelity acquisition subsidiary. Thereafter, Landmark Community Bank, Landmark’s wholly-owned subsidiary bank, will merge with and into Fidelity Bank.Based on results as of Dec. 31 2020, the combined company would have pro forma total assets of ~$2.05B, total deposits of ~$1.8B, and loans of approximately $1.4B.Landmark shareholders will receive 0.272 shares of Fidelity common stock and $3.26 in cash for each share of Landmark common stock.The transaction is valued at $43.4M or $18.22 per share, based on Fidelity’s 10-day average closing price at February 25, 2021 of $55.Closure expected in Q3 2021.Daniel J. Santaniello, Fidelity President and CEO comments, “We are excited to welcome Landmark’s clients, shareholders, and bankers to the Fidelity family. Since its founding, Landmark has demonstrated methodical growth and developed a solid reputation
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Fidelity D & D Bancorp acquires Landmark Bancorp for ~43.4M