Dunmore Groups Nominated for SAGE Awards

The Greater Scranton Chamber of Commerce has announced the finalists for the 2021 SAGE Awards, the Scranton Awards for Growth and Excellence, which honor outstanding local businesses for their talent, creativity, and innovation. 

Among the finalists from Dunmore are Fidelity Bank, FNCB Bank, DePietro’s Pharmacy, Dearly Departed Players at Dunmore Cemetery, and Space Time Mead & Cider Works.

The winners will be announced on Friday, March 19, at the Chamber Gala, a hybrid event held at the Hilton Scranton & Conference Center and live via Zoom.

This year’s SAGE Awards have been enhanced to honor and recognize the innovation our local businesses employed due to COVID-19. In addition, the new IMPACT Award for 2021 iincludes three categories: Community Outreach, People and Culture, and Products and Services. 

Close to 100 applications were received for this year’s awards and nearly 40 community leaders and professionals volunteered to review applications and select finalists. The finalists, in each category, are: Best Practices in Community Involvement, Coal Creative, Scranton Area Community Foundation, Valhalla Veterans Services; Best Practices in Customer Service, Center City Print, Maternal and Family Health Services, Tech42 LLC.

Best Practices in Marketing and Communications,m Horizon Dental Care, Inspired Studio, Posture Interactive; Business of the Year, Benco Dental, Fidelity Bank, Horizon Dental Care; Hometown Star, Dearly Departed Players at Dunmore Cemetery, Scranton Memorial Park at Scranton High School; Food for All Campaign at The Settlers Inn.

Impact: Community Outreach, Center City Print, DePietro’s Pharmacy, FNCB Bank; Impact: People and Culture, DePietro’s Pharmacy, Golden Technologies, Penn Foster, Impact: Products and Services, DePietro’s Pharmacy, Hemotology & Oncology Associates of NEPA, Woodloch Resort.

New and Emerging Business of the Year: Birdhouse Outdoor, Scholars in Training Preschool, Space Time Mead & Cider Works;  Non-Profit Organization of the Year, Camp Freedom, Inc., Keystone Mission, Maternal & Family Health Services; Small Business of the Year, Center City Print, PennWood Financial Group, United Sports Academy.

In addition, all award finalists can also win the People’s Choice Award, where the winner will be chosen by a community wide online vote, available on www.scrantonchamber.com from Monday, March 1 through Friday, March 5.

Fidelity to Acquire Landmark Community Bank

Fidelity D & D Bancorp, Inc., the parent bank holding company of The Fidelity Deposit and Discount Bank, a Pennsylvania state-chartered, FDIC insured bank and trust company headquartered in Dunmore has announced the execution of a definitive agreement whereby Landmark Bancorp, Inc. will be merged with and into a Fidelity acquisition subsidiary and, as soon as possible thereafter, Landmark Community Bank, Landmark’s wholly-owned subsidiary bank, will merge with and into Fidelity Bank. 

One director from Landmark will join the boards of Fidelity and Fidelity Bank, respectively.

Daniel J. Santaniello, Fidelity President and Chief Executive Officer, stated, “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 in the community. The addition of Landmark provides continued momentum in the execution on our strategic plan and reinforces our position of strength in the local market. 

“We believe that Landmark clients will benefit from the Fidelity Bank relationship banking model focusing on providing trusted financial advice that will enhance the product and service offerings to our combined customers.”

Based on the financial results as of Dec. 31, 2020, the combined company would have pro forma total assets of approximately $2.05 billion, total deposits of approximately $1.8 billion, and loans of approximately $1.4 billion. 

Once the merger is complete, Fidelity will have 25 retail community banking offices in Northeast and Eastern Pennsylvania, offering a complete range of consumer and business products, including wealth management.  Its Customer Care Center is open 7 days a week for the convenience of its clients.  Additionally, Fidelity Bank offers the ability for its clients to apply for consumer deposits, real estate loans, and personal loans through its robust online application processes.  

Landmark shareholders will receive 0.272 shares of Fidelity common stock and $3.26 in cash for each share of Landmark common stock that they own as of the closing date. 

Based on Fidelity’s 10-day average closing price at Feb. 25, 2021 the transaction is valued at $43.4 million or $18.22 per share. The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes.

As of Dec. 31, 2020, Landmark had total assets of $354 million, total deposits of $287 million and total loans of $280 million. Speaking on behalf of Landmark, Santo A. Insalaco, Chairman of the Board, said, “Partnering with Fidelity reflects our long-term commitment to the local community and our customers. We believe our customers will benefit from the trusted, well-respected and experienced community bankers at Fidelity, and we look forward to working together.” 

The transaction has been unanimously approved by the boards of directors of both companies. It is subject to Landmark shareholder approval, regulatory approvals and other customary closing conditions. Currently, the transaction is expected to close early in the third quarter of 2021. 

Chamber of Commerce Hosts Women’s Network Luncheon

The Greater Scranton Chamber of Commerce recently held a Women’s Network Luncheon at Glenmaura National Golf Club, the first in-person event the Chamber held since March due to COVID-19. The event was sponsored by Fidelity Bank.

Shown from left are: Jill Valentini, AVP, retail branch manager II, Fidelity Bank; Paige Cognetti, Mayor of Scranton, the keynote speaker, and Mari Potis, director of membership and events, The Greater Scranton Chamber of Commerce.

The Chamber introduced its “COVID comfort band” system at the luncheon. Guests were asked to wear a wristband associated with their level of social comfort.