First Federal Bank acquires Fidelity Bank's mortgage division

"The bank will also serve Fidelity customers in the Louisiana markets of Baton Rouge, Bossier City, Lafayette, Lake Charles, Mandeville, Metairie, Uptown New Orleans and New Orleans East, as well as Pensacola, Florida, and the Mississippi markets of McComb and Ridgeland.Chris Ferris, president and CEO of Fidelity, explained the move by saying that the bank's strategic plan for 2026 includes a renewed focus on sound execution of banking, which will support shareholder value."

"Under the agreement, NOLA's branding will be retained, but its platform will transition to First Federal within 60 days of closing. Doug Brendel, president of the residential division, said he expects the transition to be simple for employees and customers since NOLA and First Federal use largely the same technology. First Federal is a customer-owned, community-based institution with 27 branches across the Southeast and operations in the Midwest."

"The bank has more than $4.1 billion in assets. Fidelity is a smaller institution, with more than $1.2 billion in assets and 18 full-service branches across Southeast Louisiana, Baton Rouge and Lafayette. In October 2024, Fidelity became a wholly owned subsidiary of FB Bancorp. Alston & Bird represented Fidelity Bank in the transaction, while Bradley Arant Boult Cummings served as legal counsel to First Federal Bank."

First Federal Bank originated $1.7 billion in mortgages over the past 12 months, with most production from conventional and purchase loans. First Federal will continue to service loans from Georgia, Wisconsin and Florida and will serve Fidelity customers in multiple Louisiana, Florida and Mississippi markets. NOLA's branding will be retained while its platform transitions to First Federal within 60 days of closing. Fidelity's leadership cited a 2026 strategic plan focused on sound execution of banking to support shareholder value. First Federal holds more than $4.1 billion in assets; Fidelity holds more than $1.2 billion with 18 branches.

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