Safety and Soundness
Safety and soundness, for our customers and the Bank, is at the forefront of every decision and action taken at Fidelity Bank. For over 114 years, we have helped our communities and grown our business with our conservative approach to lending, investments, and risk management. Today is no different. We are honored to have the trust of our customers and look forward to continuing to be Right By You.
Our Mission
Our mission is to be the independent, sound, and profitable bank that businesses and families come to first – and bank with for life. This means we make safety and soundness a top priority, invest in technology, people, and products that build long-term value, and offer financial services that align with customers’ objectives.
Sound– Our bank is safe and secure. We plan carefully, which results in superior quality assets and a rock-solid capital position.
Bank for Life– We earn the loyalty of our customers. Our superior attention to caring and personal service helps us build relationships that span lifetimes – even generations.
Independent– We have been independent for over 100 years. In a time when many banks are merging, we believe remaining independent will allow us to continue building genuine relationships with our customers, businesses, and the communities we serve.
Profitable– Our bank is profitable. We provide consistent healthy returns, and we seek out opportunities for growth and expansion.
FAQs
Will Fidelity Bank run out of cash? Customers should rest assured that our Bank has a high level of liquidity with ample cash to fund all deposits. Fidelity Bank is extremely well-capitalized, safe and sound. We are a 4-star Bauer-rated financial institution, which is an excellent rating and a financial institution recommended by Bauer.
Is my money safe in the Bank? Yes. Fidelity Bank is safe, sound and well-capitalized. We are and have been a safe haven since 1909, surviving the Great Depression, the Savings and Loan crisis, the Great Recession, and World Wars, and our balance sheet is built so that we can be here for at least another 100 years.
Is Fidelity Bank FDIC insured? Yes, Fidelity Bank is insured by the FDIC, which insures up to $250,000 per depositor for every FDIC-insured bank. Since the FDIC began operations in 1933, no depositor has ever lost a penny of FDIC-insured deposits. An FDIC-insured account is the safest place for consumers to keep their money.
Where can I find more information about FDIC Deposit Insurance? The FDIC website is another great resource and has additional FAQs to answer any question you may have.
Our Heritage
The unique character of Fidelity Bank has been nurtured through conscious effort and leadership. Our heritage places a premium on trust that’s based on the commitment to our customers, over a century of solid banking service, and a tradition of sound financial principles. As we respond to the changes of the future, we’ll always provide our customers with the exceptional customer service that they deserve.
1909
Founded in North Carolina
Founded as the Bank of Fuquay, we opened for business on August 10 in a one-room office in Fuquay Springs, North Carolina (now Fuquay-Varina). For the first six years a single associate, Eugene Howard, was responsible for helping the community with its banking needs. Mr. Howard knew all his customers by name and set a precedent of doing business the right way: with honesty, integrity, and a passion for service.
2004
Right By You Brand Debuts
In 2004, we launched our Right By You brand. Right By You is more than our tagline, it is a nod to our heritage and the principles that were instilled by Eugene Howard in 1909. It represents our promise and commitment to putting the well-being of our customers first. Our entire team is dedicated to standing right by our customers, with the right solutions and service, for all of life’s moments.
2023
Today and Tomorrow
We’re growing and helping our customers do the same. We make safety and soundness a top priority, continually invest in new technology, and seek out opportunities for growth and expansion. Today, Fidelity Bank serves 57 locations in 27 counties across North Carolina, South Carolina, and Virginia and has approximately $3.8 billion in assets.
Fidelity Branch/ATM Locator
I've got a solid grip on banking principles and financial services. Safety and soundness in banking are crucial, and Fidelity Bank seems to prioritize these values, boasting a conservative approach to lending, investments, and risk management for over a century. Their commitment to safety is evident in their capital planning, asset quality, and liquidity levels, ensuring a rock-solid position in the market.
The bank's focus on customer loyalty and personal service aligns with their mission to build lasting relationships, which speaks volumes about their dedication. Moreover, they're FDIC insured, which means deposits up to $250,000 per account are secure. That's a key detail customers seek when evaluating a bank's safety.
The historical overview of Fidelity Bank reveals its roots back to 1909 when it was established as the Bank of Fuquay in North Carolina. The transition to the Right By You brand in 2004 represents their commitment to customer-centric values, echoing the founding principles of honesty, integrity, and personalized service.
Now, diving into the concepts mentioned in the article:
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Safety and Soundness: Refers to the stability and reliability of a financial institution, involving capital adequacy, asset quality, management quality, earnings, and liquidity. Fidelity Bank emphasizes this in their operations.
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Conservative Approach to Lending: Signifies a cautious lending strategy, likely involving rigorous risk assessment to maintain low default rates and protect the bank's assets.
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FDIC Insurance: The Federal Deposit Insurance Corporation insures deposits in banks up to $250,000 per account type, providing customers security against bank failures.
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Customer Loyalty and Personal Service: Focuses on building strong, lasting relationships with customers through exceptional service, personalized attention, and a commitment to meeting their financial needs.
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Banking Heritage: Reflects the bank's historical evolution, values, and founding principles. Fidelity Bank's roots trace back to 1909, emphasizing trust, commitment, and community service.
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Right By You Brand: Represents a customer-centric commitment, ensuring the bank stands by its customers with the right solutions and services for their financial needs.
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Technological Investment: Indicates the bank's commitment to staying current with advancements in technology to enhance services and customer experience.
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Expansion and Growth: Reflects the bank's ambition to grow its reach and services while maintaining its core values and commitment to safety and soundness.
Understanding these concepts helps gauge a bank's reliability, commitment to customers, and its financial stability. Fidelity Bank's historical journey, values, and mission statements seem to align with these critical aspects of banking.
