secwatch.observer — SEC 8-K summary
======================================

Issuer:     FIDELITY D & D BANCORP INC (FDBC)
CIK:        0001098151
Form:       8-K
Filed at:   2023-11-13T23:59:59+00:00
Accession:  0001437749-23-031618
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fidelity D&D sells $35.6M in securities, recording $6.5M loss to reduce short-term borrowings
--------------------------------------------------------------------------------

- Sold $35.6 million in available-for-sale debt securities, recognizing a $6.5 million loss in Q4 2023.
- Proceeds of $29.1 million used to pay down short-term borrowings and replenish borrowing capacity.
- Cost of interest-bearing liabilities was 2.29% for October 2023.
- Action driven by elevated October borrowings and need to fund loan growth.
- Loss will adversely affect fourth-quarter 2023 operating results.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1098151/000143774923031618/0001437749-23-031618-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1098151/000143774923031618/fdbc20231110_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-031618

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer