Business
Fidelity D & D Bancorp, Inc. Receives Regulatory Approvals To Acquire MNB Corporation
DUNMORE, Pa., April 15, 2020 (GLOBE NEWSWIRE) -- Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) (“Fidelity”), the parent bank holding company of The Fidelity
About this update from Fidelity D & D Bancorp, Inc.
[{"type":"text","content":"DUNMORE, Pa., April 15, 2020 (GLOBE NEWSWIRE) -- Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) (“Fidelity”), the parent bank holding company of The Fidelity Deposit and Discount Bank, a Pennsylvania state-chartered, FDIC-insured community bank headquartered in Dunmore, PA, announced today the receipt of all required regulatory approvals or waivers for Fidelity’s proposed acquisition of MNB Corporation (OTCPink: MNBC) (“MNB”) and its wholly-owned subsidiary, Merchants Bank of Bangor.\n The Federal Deposit Insurance Corporation has approved the Bank Merger Act application to merge Merchants Bank of Bangor with and into The Fidelity Deposit and Discount Bank (the “bank merger”). The Pennsylvania Department of Banking and Securities has approved the merger of MNB with and into Fidelity and the bank merger. The Federal Reserve Bank of Philadelphia has granted Fidelity a waiver in regard to its merger application requirements. Fidelity and MNB shareholders will vote on the proposed transaction at special meetings of shareholders to be held on Tuesday, April 21, 2020. Subject to shareholder approval and other customary closing conditions, the transaction is currently expected to have an effective closing date of May 1, 2020.Caution Regarding Forward-Looking Statements The information presented herein contains forward-looking statements. These forward-looking statements include, but are not limited to, statements about (i) the benefits of the proposed merger between Fidelity and MNB, (ii) Fidelity’s and MNB’s plans, obligations, expectations and intentions, and (iii) other statements presented herein that are not historical facts. Words such as “anticipates”, “believes”, “intends”, “should”, “expects”, “will” and variations of similar expressions are intended to identify forward-looking statements. These statements are based on the beliefs of the respective managements of Fidelity and MNB as to the expected outcome of future events and are not guarantees of future performance. These statements involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, and degree of occurrence. Results and outcomes may differ materially from what may be expressed or forecasted in forward-looking statements. Factors that could cause results and outcomes to differ materially include, among others, the ab...