Fidelity Bank parent raises $14 million
The parent company of Atlanta-based Fidelity Bank said Friday it has raised $14.4 million in new investor cash, and acquired a new branch location in McDonough.
The new capital will be used to fund organic growth and for other strategic opportunities, Fidelity Southern officials said in a news release.
Fidelity Southern sold nearly 2.2 million shares through a private placement of common stock at a price of $6.65 per share.
The new McDonough branch, Fidelity Bank’s 25th overall, was acquired from High Trust Bank, and will reopen under its new flag in July, according to officials.
Fidelity Bank is the ninth largest bank in Atlanta by deposits, according Federal Deposit Insurance Corp. data.
About the Author
J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.
