WEST PALM BEACH, Fla., July 10 /PRNewswire-FirstCall/ -- Fidelity Federal
Bank & Trust announced today that it was awarded the Small Business
Administration's (SBA) Preferred Lender status. The Bank is a wholly owned
subsidiary of Fidelity Bankshares, Inc. (Nasdaq: FFFL).
Fidelity Federal Bank & Trust, which made 51 SBA loans last year, was the
fifth ranking SBA lender in South Florida out of 112 participant banks. The
bank funded in excess of $12 million in SBA 7A and 504 program loans in 2001.
Five years ago, the bank ranked 50th in number of SBA loans in South Florida.
Participants in the SBA's Preferred Lender Program are chosen from among
the SBA's best lenders and enjoy full delegation of lending authority with the
SBA acting in an oversight capacity. The lending authority must be renewed
annually and the lender's portfolio is examined periodically by the SBA.
Vice President Richard McClintock, Fidelity Federal's Senior SBA Lender,
said, "This top level Preferred Lender designation recognizes the high level
of competence of our SBA lending program. It means we can provide quicker
access to capital for local businesses because loan decisions are made here at
our headquarters in West Palm Beach, where we have been operating for 50
years. Our SBA loans include owner-occupied commercial real estate, business
acquisitions, and equipment/machinery financing."
Fidelity Federal Bank & Trust has assets of $2.35 billion and deposits of
$1.74 billion and operates 38 offices in Palm Beach, Martin and St. Lucie
counties. The bank offers traditional banking products as well as trust,
investment and insurance services, a full line of mortgage and commercial
loans and business banking services including loans and lines of credit.
For more information, contact Senior SBA Lender, Richard McClintock at
(561) 803-9900 or Marketing Director, Dennis Casey at (561) 803-9790.
Information about Fidelity Federal Bank & Trust can be found on the website at
http://www.fidelityfederal.com.
SOURCE Fidelity Federal Bank & Trust
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Related links:
http://www.fidelityfederal.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/281429.html
CONTACT:
Richard McClintock, +1-561-803-9900, or
Dennis Casey, +1-561-803-9790, both of Fidelity Federal Bank &
Trust
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