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Fidelity Southern Corp (LION) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Fidelity Southern Corp

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CIK: 822662



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FOR IMMEDIATE RELEASE

Contacts: Martha Fleming, Charles D. Christy
Fidelity Southern Corporation (404) 240-1504

FIDELITY SOUTHERN CORPORATION REPORTS EARNINGS
FOR FOURTH QUARTER OF $9.9 MILLION
ATLANTA, GA (January 17, 2019) – Fidelity Southern Corporation (“Fidelity” or the “Company”) (NASDAQ: LION), holding company for Fidelity Bank (the “Bank”), today reported net income of $9.9 million, or $0.36 per diluted share, for the fourth quarter of 2018, compared with $12.7 million, or $0.47 per diluted share, for the third quarter of 2018, and with $12.4 million or $0.46 per diluted share for the fourth quarter of 2017. For the year to date ended December 31, 2018, the Company reported net income of $43.8 million, or $1.61 per diluted share, compared with $39.8 million, or $1.49 per diluted share, for the same period in 2017.

Fidelity's Chairman, Jim Miller, and President Palmer Proctor noted, “Our team is doing a great job of implementing our balance sheet transformation that contributed to our net interest margin expansion during a period where many in the industry are experiencing the opposite. We are working diligently to ensure our announced merger with Ameris Bancorp will be smooth and successful. Our organization is very excited about the $16 billion regional bank we are building that will position us as a premier banking franchise in the Southeast.”

BALANCE SHEET
Total assets decreased by $78.3 million, or 1.6%, during the quarter, to $4.7 billion at December 31, 2018, primarily due to a decrease of $153.5 million in total loans. This decrease was primarily due to a decrease in loans held for sale of $132.0 million, as well as a decrease of $21.5 million in loans held for investment. The decrease in loans held for sale was primarily in mortgage loans, which decreased $102.7 million, as seasonal production decreased. Other assets also decreased by $3.0 million.
Offsetting these decreases, investments increased by $42.2 million as the Bank continues to increase its investments available-for-sale portfolio as part of its strategy to reposition the balance sheet to higher yielding assets. Cash balances also increased by $29.6 million for the quarter. Loan servicing assets also increased by $3.4 million.
Total assets grew by $156.9 million, or 3.4%, to $4.7 billion at December 31, 2018, compared to $4.6 billion at December 31, 2017. Primary drivers for the year over year growth were an increase in cash of $26.0 million and an increase in investments available-for-sale of $131.5 million as the Bank repositioned its balance sheet to higher yielding investments over the year.

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The following information was filed by Fidelity Southern Corp on Friday, January 18, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Fidelity Southern Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Shareholders' Equity
Allowance For Loan Losses
Allowance For Loan Losses (Tables)
Allowance For Loan Losses - Allowance For Loan Loss Individually And Collectively Evaluated By Portfolio Segment (Details)
Allowance For Loan Losses - Narrative (Details)
Allowance For Loan Losses - Summary Of Changes In The Allowance For Loan Losses, By Loan Portfolio Segment (Details)
Borrowings
Borrowings (Tables)
Borrowings - Narrative (Details)
Borrowings - Subordinated Borrowings (Details)
Borrowings - Summary Of Other Borrowings (Details)
Borrowings Borrowings - Short-Term Debt (Details)
Business Combinations
Business Combinations (Tables)
Business Combinations - Narrative (Details)
Business Combinations - Summary Of Activity For Fdic Indemnification Asset (Details)
Business Combinations - Summary Of Assets And Liabilities Acquired (Details)
Business Combinations - Summary Of Total Consideration Paid (Details)
Certain Transfers Of Financial Assets
Certain Transfers Of Financial Assets (Tables)
Certain Transfers Of Financial Assets - Activity Of Msrs And Impairment (Details)
Certain Transfers Of Financial Assets - Asset Quality Of Residential Mortgage Loans (Details)
Certain Transfers Of Financial Assets - Asset Quality Of Sba Loans (Details)
Certain Transfers Of Financial Assets - Carrying Value Of Servicing Assets (Details)
Certain Transfers Of Financial Assets - Msrs Key Metrics (Details)
Certain Transfers Of Financial Assets - Narrative (Details)
Certain Transfers Of Financial Assets - Sba Loan Key Metrics (Details)
Certain Transfers Of Financial Assets - Sba Loan Servicing Rights And Impairment (Details)
Certain Transfers Of Financial Assets Certain Transfers Of Financial Assets - Asset Quality Of Indirect Automobile Loans (Details)
Certain Transfers Of Financial Assets Certain Transfers Of Financial Assets - Indirect Automobile Loan Key Metrics (Details)
Certain Transfers Of Financial Assets Certain Transfers Of Financial Assets - Indirect Automobile Loan Servicing Rights (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Future Minimum Rental Commitments (Details)
Condensed Financial Information Of Fidelity Southern Corporation (Parent Company Only)
Condensed Financial Information Of Fidelity Southern Corporation (Parent Company Only) (Tables)
Condensed Financial Information Of Fidelity Southern Corporation (Parent Company Only) - Balance Sheets (Details)
Condensed Financial Information Of Fidelity Southern Corporation (Parent Company Only) - Cash Flows (Details)
Condensed Financial Information Of Fidelity Southern Corporation (Parent Company Only) - Statements Of Income (Details)
Deposits
Deposits (Tables)
Deposits - Schedule Of Maturities For Time Deposits (Details)
Deposits - Total Deposits By Category (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Narrative (Details)
Derivative Financial Instruments - Summary Of Derivative Positions (Details)
Employee Benefits
Employee Benefits (Tables)
Employee Benefits - Narrative (Details)
Employee Benefits - Stock Options Assumptions (Details)
Employee Benefits - Summary Of Nonvested Restricted Stock Activity (Details)
Employee Benefits - Summary Of Stock Option Activity (Details)
Employee Benefits Employee Benefit - Estimated Benefit Payments (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Financial Assets Measured At Fair Value (Details)
Fair Value Of Financial Instruments - Nonrecurring Assets Measured At Fair Value (Details)
Fair Value Of Financial Instruments - Reconciliation Of Assets And Liabilities Measured At Fair Value (Details)
Fair Value Of Financial Instruments - Summary Of Aggregate Fair Value And Unpaid Principal Balance (Details)
Fair Value Of Financial Instruments - Summary Of Estimated Fair Values (Details)
Fair Value Of Financial Instruments - Summary Of Significant Unobservable Inputs (Details)
Financial Instruments With Off-Balance Sheet Risk
Financial Instruments With Off-Balance Sheet Risk (Details)
Financial Instruments With Off-Balance Sheet Risk (Tables)
Income Tax
Income Tax (Tables)
Income Tax - Components Of Income Tax Expense (Details)
Income Tax - Reconciliation Of Income Tax Expense (Details)
Income Tax - Temporary Differences Of Deferred Tax Assets/Liabilities (Details)
Income Tax Income Tax - Narrative (Details)
Income Tax- Reconciliation Of Gross Unrecognized Tax Benefits (Details)
Investment Securities
Investment Securities (Tables)
Investment Securities - Amortization Cost And Fair Value (Details)
Investment Securities - Narrative (Details)
Investment Securities - Summary Of Amortization Cost And Fair Value (Details)
Investment Securities - Summary Of Fair Value (Details)
Investment Securities - Summary Of Gross Unrealized Losses And Fair Value (Details)
Loans
Loans (Tables)
Loans - Acquired Pci Loans (Details)
Loans - Average Impaired Loans And Interest Income (Details)
Loans - Narrative (Details)
Loans - Summary Of Accruing Loans And Tdrs (Details)
Loans - Summary Of Covered And Non Covered Loans (Details)
Loans - Summary Of Impaired Loans (Details)
Loans - Summary Of Loans By Rating Category (Details)
Loans - Summary Of Nonaccrual Status Loans (Details)
Loans - Summary Of Pledged Loans (Details)
Loans - Summary Of Tdrs (Details)
Loans Held-For-Sale
Loans Held-For-Sale (Tables)
Loans Held-For-Sale - Narrative (Details)
Loans Held-For-Sale - Schedule Of Loans Receivable Held-For-Sale (Details)
Loans Loans - Related Party Loans (Details)
Other Noninterest Income And Expense
Other Noninterest Income And Expense (Details)
Other Noninterest Income And Expense (Tables)
Other Real Estate And Property Acquired In Settlement Of Loans
Other Real Estate And Property Acquired In Settlement Of Loans (Tables)
Other Real Estate And Property Acquired In Settlement Of Loans - Changes To Ore (Details)
Other Real Estate And Property Acquired In Settlement Of Loans - Narrative (Details)
Other Real Estate And Property Acquired In Settlement Of Loans - Ore By Type (Details)
Other Real Estate And Property Acquired In Settlement Of Loans - Summary Of Ore And Personal Property (Details)
Premises And Equipment
Premises And Equipment (Details)
Premises And Equipment (Tables)
Regulatory Matters
Regulatory Matters (Tables)
Regulatory Matters - Narrative (Details)
Regulatory Matters - Summary Of Capital Ratios (Details)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Narrative (Details)
Shareholders' Equity - Schedule Of Earnings Per Share (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
CIK: 822662
Form Type: 10-K Annual Report
Accession Number: 0000822662-19-000009
Submitted to the SEC: Wed Mar 13 2019 12:46:31 PM EST
Accepted by the SEC: Wed Mar 13 2019
Period: Monday, December 31, 2018
Industry: State Commercial Banks

External Resources:
SEC.gov

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