Fidelity Bancorp Reports Second Quarter Results

Apr 16, 2001, 01:00 ET from Fidelity Bancorp, Inc.

    CHICAGO, April 16 /PRNewswire/ -- Fidelity Bancorp, Inc. (Nasdaq: FBCI),
 the parent company of Fidelity Federal Savings Bank, today reported fiscal
 second quarter earnings of $0.50 per diluted share for the period ended
 March 31, 2001.  The company also announced its board of directors declared a
 quarterly dividend of $0.12 per share, payable May 15, 2001 to stockholders of
 record as of April 30, 2001.
     Earnings per diluted share for the quarter ended March 31, 2001 were down
 $0.02 per share, or 4%, from $0.52 per share for the same period in 2000.  Net
 income for the quarter ended March 31, 2001 was $1.0 million, compared with
 $1.1 million for the same quarter in 2000, down 7%.  Earnings per share and
 net income for the quarter were down from the previous year's results due to
 increased interest expense, despite increases in interest income and lower
 non-interest expense.
     For the first six months of the fiscal year, earnings per diluted share
 were $0.91, down $0.11 per share from $1.02 per diluted share in the first six
 months of 2000.  Net income for the first six months of 2001 was $1.9 million,
 compared with $2.3 million in 2000, down $349,000 or 15%.
     "We are still feeling the impact of higher funding costs on both deposits
 and borrowed funds even though the Federal Reserve cut interest rates twice
 during our second quarter," said Raymond S. Stolarczyk, Chairman and Chief
 Executive Officer.  "But as a result of those rate cuts, we have replaced some
 higher-cost funds with lower-rate deposits, easing the pressure on our
 interest margin.  In the meantime, attractive returns on new loans are also
 contributing to improvements in our interest margin," he said.
     Interest income from loans receivable for the six months ended March 31,
 2001 was $20.3 million, up $1.6 million or 8% from $18.7 million in 2000.  The
 average yield on loans receivable increased from 7.40% for the six months
 ended March 31, 2000 to 7.58% for the same period in 2001.  During the second
 quarter, reductions in interest rates sparked refinance activity, which
 affected the company's volume of loans receivable.  Net loans receivable at
 March 31, 2001 were $520.4 million, down 3% or $13.6 million from
 $534.0 million at September 30, 2000.  Total interest income for the six
 months ended March 31, 2001 was $23.6 million, up $2.1 million or 10% from
 $21.5 million for the same period in 2000.
     The increase in interest income was offset by higher interest expense.
 Interest expense on deposits and borrowed funds for the six months ended
 March 31, 2001 was $16.6 million, compared with $13.6 million for the same
 period in 2000.  Higher interest expense was primarily due to an increase in
 deposits and an increase in first quarter funding costs as customers
 transferred funds from savings accounts to higher-rate certificates of
 deposit.
     Deposits increased to $388.3 million at March 31, 2001, from
 $381.4 million at September 30, 2000, a $6.9 million or 2% increase.  Funds
 received from deposit growth and loan repayments enabled the bank to reduce
 borrowed funds by $10.8 million or 5% to $194.4 million at March 31, 2001.
     Non-interest income for the six months ended March 31, 2001 was $897,000,
 up $160,000 or 22% from $737,000 in 2000.  During the first quarter of fiscal
 2001, the bank sold its interest in a real estate investment and recorded a
 $106,000 gain.  The bank also recorded a $125,000 gain on the sale of
 investments in the second quarter.  Commissions from annuity and insurance
 sales were down $99,000 or 20% to $403,000 for the six months ended March 31,
 2001, from $502,000 for the same period in 2000.  For the quarter, however,
 sales commissions were down just $21,000 or 8% to $257,000 from $278,000 in
 the second quarter of 2000.
     "Investor uncertainty about the stock market, interest rates and the
 presidential race had a significant impact on first-half annuity and insurance
 sales," said Thomas E. Bentel, President and Chief Operating Officer.
 "However, toward the latter part of the second quarter, we've seen some
 settling of that uncertainty, and customer demand for these products is on the
 upswing."
     The company continued to benefit from tight expense controls, which
 contributed to a decline in non-interest expense.  General and administrative
 expenses were $4.8 million for the six months ended March 31, 2001, down
 $151,000 or 3% from $4.9 million in 2000.  The company's efficiency improved
 for the first six months, with the ratio of operating expenses to average
 assets falling to 1.51% for the six months ended March 31, 2001, compared with
 1.66% for the first half of the previous year.
     The company's asset quality remained excellent.  The ratio of
 non-performing assets to total assets was 0.11% at March 31, 2001, compared
 with 0.06% at September 30, 2000.
     The company's book value per share was $22.58 at March 31, 2001, up from
 $21.14 at September 30, 2000.  There remain 7,800 shares of stock to be
 repurchased under the company's current stock repurchase program, its 10th.
     Fidelity Bancorp, Inc. is the holding company for Fidelity Federal Savings
 Bank, which provides retail banking services through five full-service
 locations in Chicago, Franklin Park and Schaumburg.  Established in 1906 and
 headquartered in northwest Chicago, the bank is primarily in the business of
 attracting retail deposits from the general public and investing those funds
 in mortgages and consumer loans.  The bank also provides investments that are
 not FDIC insured through INVEST Financial Corporation.  Fidelity's common
 stock is traded on The Nasdaq Stock Market under the symbol "FBCI."
     Fidelity Bancorp Inc.'s news releases are available through PR Newswire's
 Company News On-Call fax service.  For a menu of Fidelity Bancorp's news
 releases, or to receive a specific release, call (800) 758-5804, ext. 107861,
 or at www.prnewswire.com on the Internet.  The company's SEC filings are
 available electronically on the Internet at
 www.sec.gov/cgi-bin/srch-edgar?0000912219 .
 
     This news release contains forward-looking statements which are subject to
 numerous assumptions, risk and uncertainties.  Actual results could differ
 materially from those contained in or implied by such forward-looking
 statements for a variety of factors including: (1) developments in general
 economic conditions, including interest rate and currency fluctuations, market
 fluctuations and perceptions, and inflation; (2) changes in the economy which
 could materially change anticipated credit quality trends and the ability to
 generate loans and deposits; (3) a failure of the capital markets to function
 consistently within customary levels; (4) a delay in or an inability to
 execute strategic initiatives designed to grow revenues and/or manage
 expenses; (5) legislative developments, including changes in laws concerning
 taxes, banking, securities, insurance and other aspects of the industry; (6)
 changes in the competitive environment for financial services organizations
 and the company's ability to adapt to such changes.
 
 
                        FIDELITY BANCORP and SUBSIDIARY
                 Consolidated Statements of Financial Condition
                  Dollars in thousands (except per share data)
 
     Assets                                          March 31,   September 30,
                                                       2001            2000
 
     Cash and due from banks                           $9,132         $4,690
     Interest-earning deposits                          1,095          1,405
     Federal funds sold                                   100            100
     Cash and cash equivalents                         10,327          6,195
     FHLB of Chicago stock, at cost                    10,695         10,065
     Mortgage-backed securities held to maturity,
      at amortized cost (approximate fair value of
      $3,075 at March 31, 2001 and $3,202
      September 30, 2000)                               3,000          3,179
     Investment securities available for sale,
      at fair value                                    81,577         74,366
     Loans receivable, net of allowance for loan
      losses of $1,056 at March 31, 2001 and $950
      at September 30, 2000                           520,434        533,999
     Loans held for sale                                  240              -
     Accrued interest receivable                        3,602          4,161
     Real estate in foreclosure                            11              3
     Premises and equipment                             3,901          3,925
     Deposit base intangible                                6             13
     Other assets                                       5,442          1,125
                                                     $639,235        637,031
 
     Liabilities and Stockholders' Equity
     Liabilities
     Deposits                                         388,325        381,433
     Borrowed funds                                   194,350        205,150
     Advance payments by borrowers for taxes
      and insurance                                     3,253          2,198
     Other liabilities                                  7,749          5,447
     Total liabilities                                593,677        594,228
 
     Stockholders' Equity
     Preferred stock, $.01 par value; authorized
      2,500,000 shares; none outstanding                    -              -
     Common stock, $.01 par value; authorized
      8,000,000 shares; issued 3,782,350 shares;
      2,017,810 and 2,025,085 shares outstanding at
      March 31, 2001 and September 30, 2000,
      respectively                                         38             38
     Additional paid-in capital                        38,747         38,780
     Retained earnings, substantially restricted       38,450         37,022
     Treasury stock, at cost (1,764,540 and
      1,757,265 shares at March 31, 2001 and
      September 30, 2000, respectively)               (31,541)       (31,391)
     Common stock acquired by Employee Stock
      Ownership Plan                                        -           (189)
     Common stock acquired by Bank Recognition
      and Retention Plans                                (184)          (191)
     Accumulated other comprehensive income (loss)         48         (1,266)
     Total stockholders' equity                        45,558         42,803
                                                     $639,235        637,031
 
 
                        FIDELITY BANCORP and SUBSIDIARY
                      Consolidated Statements of Earnings
              Dollars in thousands (except for earnings per share)
 
                              Three Months Ended           Six Months Ended
                                   March 31,                  March 31,
                              2001          2000         2001           2000
 
     Interest Income:
     Loans receivable       $10,059         9,449       20,293        18,739
     Investment securities    1,527         1,296        3,159         2,618
     Mortgage-backed
      securities                 53            62          106           127
     Interest-earning
      deposits                   10             7           22            18
     Federal funds sold           7             1            9             2
                             11,656        10,815       23,589        21,504
     Interest Expense:
     Deposits                 4,962         4,231        9,977         8,297
     Borrowed funds           3,121         2,690        6,659         5,302
                              8,083         6,921       16,636        13,599
     Net interest income
      before provision
      for loan losses         3,573         3,894        6,953         7,905
     Provision for loan
      losses                     40            15          110            55
     Net interest income
      after provision for
      loan losses             3,533         3,879        6,843         7,850
     Non-interest Income:
     Fees and commissions       115           107          233           209
     Insurance and annuity
      commissions               257           278          403           502
     Gain on sale of
      investment
      securities available
      for sale                  125             -          125             -
     Other                       15            14          136            26
                                512           399          897           737
     Non-interest Expense:
     General and
      administrative
      expenses:
       Salaries and
        employee benefits     1,393         1,409        2,804         2,834
       Office occupancy
        and equipment           379           399          753           757
       Data processing          143           139          277           266
       Advertising and
        promotions               49           110          204           292
       Other                    387           404          748           783
     Amortization of
      deposit base
      intangible                  3             6            7            12
                              2,354         2,467        4,793         4,944
     Income before income
      taxes                   1,691         1,811        2,947         3,643
     Income tax expense         642           683        1,035         1,382
     Net income              $1,049         1,128        1,912         2,261
     Earnings per share
      - basic                 $0.52          0.54         0.95          1.06
     Earnings per share
      - diluted               $0.50          0.52         0.91          1.02
 
 
                        FIDELITY BANCORP and SUBSIDIARY
                        Financial Highlights (unaudited)
      Dollars in thousands (except for book value and earnings per share)
 
                                                    March 31,      Sept. 30,
                                                       2001           2000
 
     Selected Financial Highlights:
 
       Total assets                                  $639,235        637,031
       Interest-earning assets                        617,141        623,114
       Loans receivable, net                          520,434        533,999
       Deposits                                       388,325        381,433
       Borrowed funds                                 194,350        205,150
       Non-performing assets                              691            382
       Non-performing loans                               680            379
       Allowance for loan losses                        1,056            950
       Stockholders' equity                            45,558         42,803
       Book value per share                             22.58          21.14
       Shares outstanding - actual number           2,017,810      2,025,085
 
     Asset Quality Ratios:
 
       Non-performing loans to loans
        receivable, net                                 0.13%          0.07%
       Non-performing loans to total assets             0.11%          0.06%
       Non-performing assets to total assets            0.11%          0.06%
       Allowance for loan losses to total
        non-performing loans                          155.29%        250.66%
       Allowance for loan losses to loans
        receivable, net                                 0.20%          0.18%
 
 
                              Three Months ended           Six Months ended
                                   March 31,                  March 31,
                               2001         2000          2001          2000
 
     Selected Operating
      Activities (annualized):
 
       Return on average
        assets                0.66%         0.75%        0.60%         0.76%
     Return on average
        equity                9.29%        10.83%        8.61%        10.73%
       Net interest rate
        spread during period  1.81%         2.25%        1.76%         2.29%
       Net interest margin    2.29%         2.65%        2.22%         2.70%
       Net interest income
        to non-interest
        expense             151.78%       157.84%      145.07%       159.89%
       Operating expenses
        to average assets     1.49%         1.65%        1.51%         1.66%
       Basic earnings per
        share                 $0.52         $0.54        $0.95         $1.06
       Diluted earnings
        per share             $0.50         $0.52        $0.91         $1.02
 
 

SOURCE Fidelity Bancorp, Inc.
    CHICAGO, April 16 /PRNewswire/ -- Fidelity Bancorp, Inc. (Nasdaq: FBCI),
 the parent company of Fidelity Federal Savings Bank, today reported fiscal
 second quarter earnings of $0.50 per diluted share for the period ended
 March 31, 2001.  The company also announced its board of directors declared a
 quarterly dividend of $0.12 per share, payable May 15, 2001 to stockholders of
 record as of April 30, 2001.
     Earnings per diluted share for the quarter ended March 31, 2001 were down
 $0.02 per share, or 4%, from $0.52 per share for the same period in 2000.  Net
 income for the quarter ended March 31, 2001 was $1.0 million, compared with
 $1.1 million for the same quarter in 2000, down 7%.  Earnings per share and
 net income for the quarter were down from the previous year's results due to
 increased interest expense, despite increases in interest income and lower
 non-interest expense.
     For the first six months of the fiscal year, earnings per diluted share
 were $0.91, down $0.11 per share from $1.02 per diluted share in the first six
 months of 2000.  Net income for the first six months of 2001 was $1.9 million,
 compared with $2.3 million in 2000, down $349,000 or 15%.
     "We are still feeling the impact of higher funding costs on both deposits
 and borrowed funds even though the Federal Reserve cut interest rates twice
 during our second quarter," said Raymond S. Stolarczyk, Chairman and Chief
 Executive Officer.  "But as a result of those rate cuts, we have replaced some
 higher-cost funds with lower-rate deposits, easing the pressure on our
 interest margin.  In the meantime, attractive returns on new loans are also
 contributing to improvements in our interest margin," he said.
     Interest income from loans receivable for the six months ended March 31,
 2001 was $20.3 million, up $1.6 million or 8% from $18.7 million in 2000.  The
 average yield on loans receivable increased from 7.40% for the six months
 ended March 31, 2000 to 7.58% for the same period in 2001.  During the second
 quarter, reductions in interest rates sparked refinance activity, which
 affected the company's volume of loans receivable.  Net loans receivable at
 March 31, 2001 were $520.4 million, down 3% or $13.6 million from
 $534.0 million at September 30, 2000.  Total interest income for the six
 months ended March 31, 2001 was $23.6 million, up $2.1 million or 10% from
 $21.5 million for the same period in 2000.
     The increase in interest income was offset by higher interest expense.
 Interest expense on deposits and borrowed funds for the six months ended
 March 31, 2001 was $16.6 million, compared with $13.6 million for the same
 period in 2000.  Higher interest expense was primarily due to an increase in
 deposits and an increase in first quarter funding costs as customers
 transferred funds from savings accounts to higher-rate certificates of
 deposit.
     Deposits increased to $388.3 million at March 31, 2001, from
 $381.4 million at September 30, 2000, a $6.9 million or 2% increase.  Funds
 received from deposit growth and loan repayments enabled the bank to reduce
 borrowed funds by $10.8 million or 5% to $194.4 million at March 31, 2001.
     Non-interest income for the six months ended March 31, 2001 was $897,000,
 up $160,000 or 22% from $737,000 in 2000.  During the first quarter of fiscal
 2001, the bank sold its interest in a real estate investment and recorded a
 $106,000 gain.  The bank also recorded a $125,000 gain on the sale of
 investments in the second quarter.  Commissions from annuity and insurance
 sales were down $99,000 or 20% to $403,000 for the six months ended March 31,
 2001, from $502,000 for the same period in 2000.  For the quarter, however,
 sales commissions were down just $21,000 or 8% to $257,000 from $278,000 in
 the second quarter of 2000.
     "Investor uncertainty about the stock market, interest rates and the
 presidential race had a significant impact on first-half annuity and insurance
 sales," said Thomas E. Bentel, President and Chief Operating Officer.
 "However, toward the latter part of the second quarter, we've seen some
 settling of that uncertainty, and customer demand for these products is on the
 upswing."
     The company continued to benefit from tight expense controls, which
 contributed to a decline in non-interest expense.  General and administrative
 expenses were $4.8 million for the six months ended March 31, 2001, down
 $151,000 or 3% from $4.9 million in 2000.  The company's efficiency improved
 for the first six months, with the ratio of operating expenses to average
 assets falling to 1.51% for the six months ended March 31, 2001, compared with
 1.66% for the first half of the previous year.
     The company's asset quality remained excellent.  The ratio of
 non-performing assets to total assets was 0.11% at March 31, 2001, compared
 with 0.06% at September 30, 2000.
     The company's book value per share was $22.58 at March 31, 2001, up from
 $21.14 at September 30, 2000.  There remain 7,800 shares of stock to be
 repurchased under the company's current stock repurchase program, its 10th.
     Fidelity Bancorp, Inc. is the holding company for Fidelity Federal Savings
 Bank, which provides retail banking services through five full-service
 locations in Chicago, Franklin Park and Schaumburg.  Established in 1906 and
 headquartered in northwest Chicago, the bank is primarily in the business of
 attracting retail deposits from the general public and investing those funds
 in mortgages and consumer loans.  The bank also provides investments that are
 not FDIC insured through INVEST Financial Corporation.  Fidelity's common
 stock is traded on The Nasdaq Stock Market under the symbol "FBCI."
     Fidelity Bancorp Inc.'s news releases are available through PR Newswire's
 Company News On-Call fax service.  For a menu of Fidelity Bancorp's news
 releases, or to receive a specific release, call (800) 758-5804, ext. 107861,
 or at www.prnewswire.com on the Internet.  The company's SEC filings are
 available electronically on the Internet at
 www.sec.gov/cgi-bin/srch-edgar?0000912219 .
 
     This news release contains forward-looking statements which are subject to
 numerous assumptions, risk and uncertainties.  Actual results could differ
 materially from those contained in or implied by such forward-looking
 statements for a variety of factors including: (1) developments in general
 economic conditions, including interest rate and currency fluctuations, market
 fluctuations and perceptions, and inflation; (2) changes in the economy which
 could materially change anticipated credit quality trends and the ability to
 generate loans and deposits; (3) a failure of the capital markets to function
 consistently within customary levels; (4) a delay in or an inability to
 execute strategic initiatives designed to grow revenues and/or manage
 expenses; (5) legislative developments, including changes in laws concerning
 taxes, banking, securities, insurance and other aspects of the industry; (6)
 changes in the competitive environment for financial services organizations
 and the company's ability to adapt to such changes.
 
 
                        FIDELITY BANCORP and SUBSIDIARY
                 Consolidated Statements of Financial Condition
                  Dollars in thousands (except per share data)
 
     Assets                                          March 31,   September 30,
                                                       2001            2000
 
     Cash and due from banks                           $9,132         $4,690
     Interest-earning deposits                          1,095          1,405
     Federal funds sold                                   100            100
     Cash and cash equivalents                         10,327          6,195
     FHLB of Chicago stock, at cost                    10,695         10,065
     Mortgage-backed securities held to maturity,
      at amortized cost (approximate fair value of
      $3,075 at March 31, 2001 and $3,202
      September 30, 2000)                               3,000          3,179
     Investment securities available for sale,
      at fair value                                    81,577         74,366
     Loans receivable, net of allowance for loan
      losses of $1,056 at March 31, 2001 and $950
      at September 30, 2000                           520,434        533,999
     Loans held for sale                                  240              -
     Accrued interest receivable                        3,602          4,161
     Real estate in foreclosure                            11              3
     Premises and equipment                             3,901          3,925
     Deposit base intangible                                6             13
     Other assets                                       5,442          1,125
                                                     $639,235        637,031
 
     Liabilities and Stockholders' Equity
     Liabilities
     Deposits                                         388,325        381,433
     Borrowed funds                                   194,350        205,150
     Advance payments by borrowers for taxes
      and insurance                                     3,253          2,198
     Other liabilities                                  7,749          5,447
     Total liabilities                                593,677        594,228
 
     Stockholders' Equity
     Preferred stock, $.01 par value; authorized
      2,500,000 shares; none outstanding                    -              -
     Common stock, $.01 par value; authorized
      8,000,000 shares; issued 3,782,350 shares;
      2,017,810 and 2,025,085 shares outstanding at
      March 31, 2001 and September 30, 2000,
      respectively                                         38             38
     Additional paid-in capital                        38,747         38,780
     Retained earnings, substantially restricted       38,450         37,022
     Treasury stock, at cost (1,764,540 and
      1,757,265 shares at March 31, 2001 and
      September 30, 2000, respectively)               (31,541)       (31,391)
     Common stock acquired by Employee Stock
      Ownership Plan                                        -           (189)
     Common stock acquired by Bank Recognition
      and Retention Plans                                (184)          (191)
     Accumulated other comprehensive income (loss)         48         (1,266)
     Total stockholders' equity                        45,558         42,803
                                                     $639,235        637,031
 
 
                        FIDELITY BANCORP and SUBSIDIARY
                      Consolidated Statements of Earnings
              Dollars in thousands (except for earnings per share)
 
                              Three Months Ended           Six Months Ended
                                   March 31,                  March 31,
                              2001          2000         2001           2000
 
     Interest Income:
     Loans receivable       $10,059         9,449       20,293        18,739
     Investment securities    1,527         1,296        3,159         2,618
     Mortgage-backed
      securities                 53            62          106           127
     Interest-earning
      deposits                   10             7           22            18
     Federal funds sold           7             1            9             2
                             11,656        10,815       23,589        21,504
     Interest Expense:
     Deposits                 4,962         4,231        9,977         8,297
     Borrowed funds           3,121         2,690        6,659         5,302
                              8,083         6,921       16,636        13,599
     Net interest income
      before provision
      for loan losses         3,573         3,894        6,953         7,905
     Provision for loan
      losses                     40            15          110            55
     Net interest income
      after provision for
      loan losses             3,533         3,879        6,843         7,850
     Non-interest Income:
     Fees and commissions       115           107          233           209
     Insurance and annuity
      commissions               257           278          403           502
     Gain on sale of
      investment
      securities available
      for sale                  125             -          125             -
     Other                       15            14          136            26
                                512           399          897           737
     Non-interest Expense:
     General and
      administrative
      expenses:
       Salaries and
        employee benefits     1,393         1,409        2,804         2,834
       Office occupancy
        and equipment           379           399          753           757
       Data processing          143           139          277           266
       Advertising and
        promotions               49           110          204           292
       Other                    387           404          748           783
     Amortization of
      deposit base
      intangible                  3             6            7            12
                              2,354         2,467        4,793         4,944
     Income before income
      taxes                   1,691         1,811        2,947         3,643
     Income tax expense         642           683        1,035         1,382
     Net income              $1,049         1,128        1,912         2,261
     Earnings per share
      - basic                 $0.52          0.54         0.95          1.06
     Earnings per share
      - diluted               $0.50          0.52         0.91          1.02
 
 
                        FIDELITY BANCORP and SUBSIDIARY
                        Financial Highlights (unaudited)
      Dollars in thousands (except for book value and earnings per share)
 
                                                    March 31,      Sept. 30,
                                                       2001           2000
 
     Selected Financial Highlights:
 
       Total assets                                  $639,235        637,031
       Interest-earning assets                        617,141        623,114
       Loans receivable, net                          520,434        533,999
       Deposits                                       388,325        381,433
       Borrowed funds                                 194,350        205,150
       Non-performing assets                              691            382
       Non-performing loans                               680            379
       Allowance for loan losses                        1,056            950
       Stockholders' equity                            45,558         42,803
       Book value per share                             22.58          21.14
       Shares outstanding - actual number           2,017,810      2,025,085
 
     Asset Quality Ratios:
 
       Non-performing loans to loans
        receivable, net                                 0.13%          0.07%
       Non-performing loans to total assets             0.11%          0.06%
       Non-performing assets to total assets            0.11%          0.06%
       Allowance for loan losses to total
        non-performing loans                          155.29%        250.66%
       Allowance for loan losses to loans
        receivable, net                                 0.20%          0.18%
 
 
                              Three Months ended           Six Months ended
                                   March 31,                  March 31,
                               2001         2000          2001          2000
 
     Selected Operating
      Activities (annualized):
 
       Return on average
        assets                0.66%         0.75%        0.60%         0.76%
     Return on average
        equity                9.29%        10.83%        8.61%        10.73%
       Net interest rate
        spread during period  1.81%         2.25%        1.76%         2.29%
       Net interest margin    2.29%         2.65%        2.22%         2.70%
       Net interest income
        to non-interest
        expense             151.78%       157.84%      145.07%       159.89%
       Operating expenses
        to average assets     1.49%         1.65%        1.51%         1.66%
       Basic earnings per
        share                 $0.52         $0.54        $0.95         $1.06
       Diluted earnings
        per share             $0.50         $0.52        $0.91         $1.02
 
 SOURCE  Fidelity Bancorp, Inc.