EXHIBIT 99
<PAGE>
October 18, 2000 Mr. Richard Spencer
Chief Financial Officer
(412) 367-3300
E-mail: [email protected]
FIDELITY BANCORP, INC. ANNOUNCES A 10% STOCK DIVIDEND
AND A QUARTERLY CASH DIVIDEND
PITTSBURGH, PA, October 18, 2000 - On October 17, 2000 the Board of Directors of
Fidelity Bancorp, Inc. (NASDAQ: FSBI) declared a stock dividend of 10%. The
stock dividend is payable on November 28, 2000 on all outstanding shares to
shareholders of record on November 15, 2000. This dividend is the sixth stock
dividend paid to shareholders since the Company was formed twelve years ago. As
a result of the stock dividend, the Company's outstanding shares will increase
10% to approximately 2,095,000 shares from the current number of approximately
1,905,000 shares.
In addition to the 10% stock dividend, a quarterly cash dividend of $.10 per
share will be paid to shareholders of record on November 15, 2000. The cash
dividend is payable on November 30, 2000 on all outstanding shares, including
the new shares represented by the 10% stock dividend. This is a 10% increase in
the cash dividend and represents the 49th uninterrupted quarterly dividend paid
to shareholders.
Commenting on these dividend declarations, President and Chief Executive Officer
William L. Windisch stated, "The Board of Directors has long believed that the
success of the Company should be shared with the stockholders. The Company has
enjoyed a very successful year, which will be evident when earnings are released
next month. We acknowledge the loyalty of our shareholders through the issuance
of the stock dividend and the 10% increase in the cash dividend and look forward
to continuing these two traditions."
Fidelity Bancorp, Inc. is the holding company of Fidelity Bank, a Pennsylvania
chartered, FDIC insured savings bank conducting business through ten offices in
Allegheny and Butler counties.
