CHICAGO, Jan. 22 /PRNewswire-FirstCall/ -- Fidelity Bancorp, Inc.
(Nasdaq: FBCI), today announced that its board of directors has declared a
three-for-two stock split of its outstanding shares of common stock. The
stock split will be effected in the form of a stock dividend and will entitle
each stockholder of record at the close of business on February 6, 2002 to
receive one additional share of common stock for every two shares held on that
date. The company will pay cash in lieu of fractional shares in an amount
equal to the average of the bid and asked prices quoted on The Nasdaq National
Market System at the close of business on the record date.
"Fidelity's board of directors declared this stock split in order to
increase the stock's liquidity in the marketplace. These measures reflect
director and management confidence that Fidelity will continue to grow, and
that an investment in Fidelity Bancorp is a sound one," said Raymond S.
Stolarczyk, chairman and chief executive officer.
Certificates representing the additional shares of common stock will be
distributed on or about February 28, 2002 to stockholders of the company on
the record date. After the split, the company will have approximately
3,080,800 shares of common stock outstanding.
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 its insurance agency and Invest Financial
Corporation. Fidelity's common stock is traded on The NASDAQ Stock Market
under the symbol "FBCI."
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 with 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; and (6) changes in
the competitive environment for financial services organizations and the
company's ability to adapt to such changes.
SOURCE Fidelity Bancorp, Inc.
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Company News On-Call:
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CONTACT:
Raymond S. Stolarczyk, Chairman & CEO, Thomas
E. Bentel, President & COO, or Elizabeth A. Doolan, Sr. Vice
President & CFO, all of Fidelity Bancorp, Inc., +1-773-736-4414
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