DUNMORE, Pa., April 15, 2020 (GLOBE NEWSWIRE) -- Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC), 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) and its wholly-owned subsidiary, Merchants Bank of Bangor.

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 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.