Fidelity Bankshares Ranked Among Top-Performing Financial Institutions in 2005 by Bank Director Magazine

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Fidelity Bankshares Ranked Among Top-Performing Financial Institutions in 2005 by Bank Director Magazine

    WEST PALM BEACH, Fla., Dec. 9 /PRNewswire-FirstCall/ -- Fidelity
Bankshares, Inc. (Nasdaq: FFFL), the holding company for Fidelity Federal Bank
& Trust, was ranked 96th in Bank Director magazine's top 2005 publicly traded
FDIC-insured financial institutions in the United States on the basis of its
financial performance.
    According to the FDIC, there are 8,875 FDIC-insured financial institutions
in the United States. Bank Director's ranking would put Fidelity Federal in
the top 100 of all U.S. FDIC-insured financial institutions.
    The ranking was based on each bank's performance across three categories:
profitability, capital adequacy and asset quality. The calculations in Bank
Director's 2005 Bank Performance Scorecard were based on publicly available
data over four linked quarters -- the third and fourth quarters of 2004 and
the first and second quarters of 2005. The scorecard took into account each
company's return on average assets, return on average equity, Tier-1 capital
ratio, leverage ratio, nonperforming asset ratio and reserve coverage.
    The article stated, "The ultimate accountability for the performance of
any bank or thrift rests with its board of directors, and as such, the Bank
Performance Scorecard strives to look beyond singular performance metrics to
identify institutions that are superlative in all critical areas."
    Vince Elhilow, CEO of Fidelity Federal, said, "We are delighted to be
recognized as a top-performing financial institution by a prestigious
publication such as Bank Director. Fidelity is honored to be ranked among the
top banks nationwide based on our fiscal quarter results in several key areas,
but our company truly prides itself on the service we provide to our customers
and our community."

    At Sept. 30, 2005, Fidelity Bankshares, Inc., through its subsidiary
Fidelity Federal Bank & Trust, had assets of $3.94 billion and deposits of
$3.32 billion and operates in Florida through 48 offices in Palm Beach, Martin
and St. Lucie counties.

    An investment profile on Fidelity Bankshares may be found on
http://www.hawkassociates.com/fffl/profile.htm .

    For more information, contact Chairman and CEO Vince A. Elhilow or Chief
Financial Officer Richard D. Aldred at (561) 803-9900, or Frank Hawkins or
Julie Marshall, Hawk Associates, Inc., at (305) 451-1888, e-mail:
info@hawkassociates.com . Information about Fidelity Bankshares, Inc. can be
found on http://www.fidelityfederal.com . Copies of Fidelity Bankshares press
releases, SEC filings, current price quotes, stock charts and other valuable
information for investors may be found on http://www.hawkassociates.com .

    Forward-Looking Statements: When used in this report, the words or phrases
"will likely result," "are expected to," "will continue," "is anticipated,"
"estimate," "project" or similar expressions are intended to identify
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements are subject to certain risks
and uncertainties, including, among other things, changes in economic
conditions in the company's market area, changes in policies by regulatory
agencies, fluctuations in interest rates, demand for loans in the company's
market area and competition that could cause actual results to differ
materially from historical earnings and those presently anticipated or
projected. The company wishes to caution readers not to place undue reliance
on any such forward-looking statements, which speak only as of the date made.
The company wishes to advise readers that the factors listed above could
affect the company's financial performance and could cause the company's
actual results for future periods to differ materially from any opinions or
statements expressed with respect to future periods in any current statements.

SOURCE Fidelity Bankshares, Inc.

http://www.fidelityfederal.com

http://www.hawkassociates.com

http://www.hawkassociates.com/fffl/profile.htm
CONTACT:
Vince A. Elhilow, Chairman and CEO, or
Richard D. Aldred, Chief Financial Officer, both of Fidelity,
+1-561-803-9900; or Frank Hawkins or Julie Marshall, both of Hawk
Associates, Inc., +1-305-451-1888, or info@hawkassociates.com,
for Fidelity