EXHIBIT 99
PRESS RELEASE
(FOR IMMEDIATE RELEASE)
FIDELITY D & D BANCORP, INC.
Dunmore, Pennsylvania
Date: July 5, 2000
Contact Person: Michael F. Marranca, President/CEO
(570) 342-8281
The Board of Directors of The Fidelity Deposit and Discount Bank is pleased
to announce that effective June 30, 2000, The Fidelity Deposit and Discount Bank
reorganized into a one-bank holding company, Fidelity D & D Bancorp, Inc. The
Bank is now the wholly owned subsidiary of Fidelity D & D Bancorp, Inc. As part
of this transaction, each outstanding share of common stock of The Fidelity
Deposit and Discount Bank was exchanged, by operation of law, for two shares of
Fidelity D & D Bancorp, Inc.'s common stock. In addition, share certificates
bearing the name "The Fidelity Deposit and Discount Bank" will need to be
exchanged for share certificates bearing the name "Fidelity D & D Bancorp, Inc."
Shareholders will receive more information in the near future about how to
exchange their share certificates but do not need to take any action at this
time.
The Board of Directors believes that the bank holding company structure
will provide the most effective organizational vehicle by which the Bank can
continue to fulfill its mission of providing cost-effective, quality financial
services to the community. The Board of Directors is committed to preserving the
Bank's independence and its focus on the community. By modernizing the Bank's
organizational structure, the Board of Directors believes the Bank will be
better able to compete in the challenging and changing financial services
markets of the future.
The Fidelity Deposit and Discount Bank is headquartered in Dunmore,
Pennsylvania, with total assets of about $457 million as of March 31, 2000. The
Fidelity Deposit and Discount Bank has branches in Dunmore, Scranton, Clarks
Summit, Peckville, Pittston, West Pittston and Moosic.
