ATLANTA, May 20, 2015 /PRNewswire/ -- Fidelity
Southern Corporation ("Fidelity") (NASDAQ: LION), holding company
for Fidelity Bank (the "Bank"), today announced that the Bank has
entered into a definitive agreement with First Bank, a Missouri bank ("First Bank"), pursuant to
which the Bank has agreed to purchase, and First Bank has agreed to
sell, approximately $154 million in
customer deposits, approximately $32
million in loans and other assets, including all eight
branch offices of First Bank's Florida banking operation. The Bank is paying
a premium of 1.0% with respect to the assumed deposits. The
branches are located in the Bradenton, Palmetto and Longboat Key communities.
Fidelity's President, Palmer
Proctor, said, "We welcome First Bank's customers and
employees to the Fidelity family. Florida is a very important part of our growth
strategy and we look forward to serving the North Port-Sarasota-Bradenton MSA."
The consummation of the transaction is subject to customary
closing conditions, including receipt of all necessary regulatory
approvals, and is expected to be completed in the third quarter of
2015.
ABOUT FIDELITY SOUTHERN CORPORATION
Fidelity Southern Corporation, through its operating
subsidiaries Fidelity Bank and LionMark Insurance Company, provides
banking and trust and wealth management services and credit-related
insurance products through branches in Georgia and Florida, and an insurance office in
Atlanta, Georgia. SBA,
indirect automobile, and mortgage loans are provided throughout the
South. For additional information about Fidelity's products
and services, please visit the website at www.FidelitySouthern.com.
This news release contains forward-looking statements, as
defined by Federal Securities Laws, including statements regarding
the anticipated timing and impact of Fidelity Bank's purchase and
assumption of certain loans and deposits of First Bank. Such
statements are based on our current beliefs and expectations are
inherently subject to risks and uncertainties, many of which are
beyond our control. Potential risks and uncertainties
include, but are not limited to, the risk of not receiving required
regulatory approvals and changes in local and national economic
conditions. Accordingly, actual results may differ materially
from those in such forward-looking statements. Fidelity Southern
Corporation does not undertake, and specifically disclaims any
obligation, to publicly release the result of any revisions that
may be made to any forward-looking statements to reflect events or
circumstances after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events.
Contacts:
|
Martha Fleming, Steve
Brolly
|
|
Fidelity Southern
Corporation – (404) 240-1504
|
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SOURCE Fidelity Southern Corporation