Founded in 1970, Fidelity Bank is headquartered in Edina, Minnesota, and is one of the premier commercial banks in the Twin Cities.
Fidelity demonstrates its strength in the market with a strong balance sheet and consistent growth providing commercial lending and banking services to approximately 700 Minnesota businesses.
Chuck Mueller, who has been with the bank since 1983 and has held roles as executive vice president and chief credit officer, has been Fidelity’s president since January 2008 when former president Jim Morton was named chairman of the board.
“We are operating from a position of strength.,” Mueller said. “We are looking for business and we are under no restraints to lend. Fidelity is extremely well capitalized, and we are actively lending to businesses. We are a business bank and we only focus on that niche.”
Indeed. Specializing in commercial lending services since 1979, Fidelity’s commercial loan services include working capital lines of credit, term loans, asset-based lending, real estate loans, and SBA Loans. The bank is particularly known for its experience in the area of asset-based lending, providing working capital to companies backed by short-term assets such as accounts receivable and inventory. Asset-based lending arrange ments through Fidelity Bank have fueled the success and growth of many growing businesses.
Along with its asset-based lending, Fidelity Bank also provides mortgage warehouse facility arrangements Fidelity Bank developed the mortgage warehouse facility program to provide our mortgage clients with greater flexibility and a competitive edge. Since its inception in the mid 1980s, Fidelity has expanded its footprint to service mortgage clients in Wisconsin, Colorado, Kansas, North Dakota, South Dakota and Utah.
Fidelity Bank provides commercial loans primarily to privately-owned businesses in the Twin Cities metropolitan area, but its client base extends throughout Minnesota. Most of the bank’s clients range from start-up businesses to those with $50 million in annual revenue. In addition, Fidelity Bank is privately owned and has total assets at December 31, 2012 of nearly $523 million.
For the most up-to-date and comprehensive information about Fidelity's financial performance in 2010, please refer to the Federal Reserve's web site at http://www2.fdic.gov/idasp/main.asp.
This backgrounder was last updated: December 2013.