Fidelity Southern Corp. plans stock offering of up to $57.5 million

Fidelity Southern Corp., the parent to Atlanta-based Fidelity Bank, said Tuesday it will issue up to to $57.5 million in shares. The bank, which detailed its plan in a registration statement with the Securities and Exchange Commission, said the money to pay down some or all of the $48 million it borrowed from the federal government through the Troubled Asset Relief Program. the bank also said it would use some of the proceeds to make acquisitions and other organic growth strategies. The stock sale also will boost Fidelity's regulatory capital ratios, the company said. Sandler O'Neill & Partners and FIG Partners will co-manage the book-running for the offering.