ATLANTA, Sept. 14, 2015 /PRNewswire/ -- Fidelity
Southern Corporation ("Fidelity") (NASDAQ: LION), holding company
for Fidelity Bank, today announced the completion of the previously
announced acquisition of the deposits of eight branches of First
Bank. In connection with the acquisition, Fidelity Bank assumed
approximately $154 million in
customer deposits at a deposit premium of 1.0%. Additionally,
Fidelity Bank acquired approximately $30
million in loans and other assets related to eight branch
offices of First Bank's Florida
banking operation. The branches will all reopen Monday as
Fidelity Bank and the employees of First Bank will be retained as
employees of Fidelity Bank.
Fidelity has been in Florida
since 1992, and the transaction expands its presence in counties
surrounding Bradenton,
Palmetto and Longboat Key. Speaking on the transaction,
Fidelity's President, Palmer
Proctor, said, "We're pleased to close this transaction with
First Bank and look forward to serving the needs of our newest
Florida customers."
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.
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Contacts:
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Martha Fleming, Steve
Brolly
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Fidelity Southern
Corporation – (404) 240-1504
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SOURCE Fidelity Southern Corporation