ATLANTA, Oct. 2, 2015 /PRNewswire/ -- Fidelity Bank,
a subsidiary of Fidelity Southern Corporation (NASDAQ: LION),
announced it entered into a Purchase and Assumption Agreement with
the FDIC to purchase substantially all the assets and assume all
the deposits of The Bank of Georgia. As of June 30, 2015, The Bank of Georgia had approximately $295 million in total assets and $280 million in total deposits.
The addition of the seven Bank of Georgia branches increases the
number of Fidelity Bank branches in the Atlanta area to 47 locations in 14
counties. The branches are located in Peachtree City, Fayetteville, Tyrone, Sharpsburg, Newnan, and Fairburn. Three of the
former Bank of Georgia locations
will open as normal on Saturday, October
3, and the remaining four locations will open on
Monday, October 5.
Fidelity Bank assumed both insured and uninsured deposits and,
therefore, all The Bank of Georgia
depositor accounts will be honored.
The Bank of Georgia customers
will continue to be able to conduct banking business including
using their Bank of Georgia checks
and ATM and debit cards. All checks will be processed as
usual, and customers can continue using their Bank of Georgia checks. Customers may also use
any Fidelity Bank ATM free of charge.
Chairman James B. Miller, Jr.
said: "This transaction consolidates Fidelity's position in a
dynamic part of the Atlanta area
and makes Fidelity Bank's broad array of products and services,
including free checking, more widely available."
Fidelity Southern Corporation, through its operating
subsidiaries Fidelity Bank and LionMark Insurance Company, provides
banking, 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.
Contacts:
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H. Palmer Proctor,
Jr. (404) 240-1525
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Palmer.Proctor@lionbank.com
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|
|
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Martha C. Fleming
(404) 240-1504
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Martha.Fleming@lionbank.com
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SOURCE Fidelity Southern Corporation