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Fidelity Bancorp, Inc. and Subsidiaries
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Income Statement for the Three Months Ended
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December 31, 2011 and 2010 (unaudited)
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(In thousands, except per share data)
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Three Months Ended
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December 31,
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2011
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2010
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Interest income
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$ 6,290
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$ 6,962
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Interest expense
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2,644
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3,230
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Net interest income
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3,646
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3,732
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Provision for loan losses
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350
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300
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Net interest income after provision
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for loan losses
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3,296
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3,432
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Net impairment losses recognized
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in earnings ("OTTI")
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(52)
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(1,076)
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Noninterest income (excluding OTTI)
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1,168
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1,104
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Noninterest expense
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3,714
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3,829
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Income/(loss) before income tax benefit
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698
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(369)
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Income tax provision/(benefit)
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133
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(234)
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Net income/(loss)
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565
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(135)
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Preferred stock dividend
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(88)
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(88)
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Amortization of preferred stock discount
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(15)
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(15)
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Net income/(loss)available to common
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stockholders
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$ 462
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$ (238)
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Basic earnings per common share
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$ 0.15
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$ (0.08)
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Diluted earnings per common share
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$ 0.15
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$ (0.08)
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Net interest margin (tax equivalent)
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2.43%
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2.36%
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Annualized return on average assets
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0.34%
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(0.08%)
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Annualized return on average equity
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4.46%
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(1.09%)
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Balance Sheet Data (unaudited)
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(In thousands, except share data)
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Dec. 31, 2011
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Sept. 30, 2011
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Dec. 31, 2010
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Total assets
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$ 660,889
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$ 666,915
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$ 694,349
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Cash and cash equivalents
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30,773
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24,856
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44,019
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Total investment securities
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240,381
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259,385
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255,053
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Loans receivable, net
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348,005
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346,285
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361,098
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Deposits
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455,453
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446,102
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444,712
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Borrowed funds (includes subordinated debt)
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147,218
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164,406
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193,271
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Stockholders' equity
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51,429
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50,491
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48,950
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Book value per common share
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$ 14.54
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$ 14.24
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$ 13.76
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Average equity to average assets
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7.64%
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7.34%
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7.09%
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Allowance for loan losses to loans receivable
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1.37%
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1.66%
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1.62%
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Non-performing assets to total assets
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2.19%
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1.49%
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1.89%
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Non-performing loans to total loans
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2.03%
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1.97%
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3.38%
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