ATLANTA, May 29, 2015 /PRNewswire/ -- Fidelity Bank
(the "Bank"), a subsidiary of Fidelity Southern Corporation
(Nasdaq: LION) (the "Company"), completed the issuance of
$75 million in aggregate principal
amount of subordinated notes due May 31,
2030 (the "Notes"). The Notes were issued by the Bank
pursuant to a Note Purchase Agreement dated May 29, 2015.
The Notes will bear a fixed rate of interest of 5.875% per year,
from and including May 29, 2015, to
but excluding June 1, 2025. From and
including June 1, 2025 to the
maturity date, the interest rate will be a floating rate equal to
the three-month LIBOR determined on the determination date of the
applicable interest period plus 363 basis points. The Notes were
priced at 100% of their par value. The Notes are callable at their
par value in whole or in part on June 1,
2025 or any interest payment date thereafter. The Notes will
qualify as Tier 2 regulatory capital for the Bank and the Company,
and the intended use of proceeds includes general corporate
purposes, including potential acquisitions.
The Bank was issued a BBB+ investment grade rating by Kroll Bond
Rating Agency on May 14, 2015. The
Notes were rated BBB by Kroll Bond Rating Agency.
Keefe, Bruyette & Woods, Inc. served as a lead placement
agent for the Notes offering, with FIG Partners LLC serving as
co-placement agent.
This press release is for informational purposes only and is not
an offer to sell or the solicitation of an offer to buy any
security of the Bank or the Company.
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.
Forward-Looking Statements
This press release contains forward-looking statements, as defined
by Federal Securities Laws, including statements about financial
outlook and business environment. These statements are provided to
assist in the understanding of future financial performance and
such performance involves risks and uncertainties that may cause
actual results to differ materially from those in such statements.
Any such statements are based on current expectations and involve a
number of risks and uncertainties. For a discussion of factors that
may cause such forward-looking statements to differ materially from
actual results, please refer to the section entitled "Forward
Looking Statements" from Fidelity Southern Corporation's 2014
Annual Report filed on Form 10-K with the Securities and Exchange
Commission. Additional information and other factors that could
affect future financial results are included in the Company's
filings with the Securities and Exchange Commission.
Contacts:
|
Martha Fleming, Steve
Brolly
|
|
Fidelity Bank –
404-240-1504
|
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SOURCE Fidelity Southern Corporation