Fidelity Bank places $75 million of 15-year subordinated notes with fixed-to-floating rate

By Lisa Kerner

Charlotte, N.C., May 29 – Fidelity Southern Corp. subsidiary Fidelity Bank issued $75 million of subordinated notes due 2030.

The notes will bear a fixed interest rate of 5.875% per year up to but excluding June 1, 2025, according to a company news release.

From and including June 1, 2025 to the maturity date, the interest rate will be a floating rate equal to Libor plus 363 basis points.

Proceeds will be used for general corporate purposes, including potential acquisitions.

Keefe, Bruyette & Woods, Inc. was the lead placement agent. FIG Partners LLC was co-placement agent.

Atlanta-based Fidelity Southern provides banking and trust and wealth management services and credit-related insurance products.

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