Statement of Condition

Dear clients, friends and colleagues:

Thank you for the loyalty and confidence you have shown in us this past year. These are unprecedented times within the financial markets, and I am proud to share with you the performance of Fidelity Bank in 2009..

Despite a challenging economy in 2009, we ended the year with strong earnings and maintained a solid capital position. While commercial loan levels were down slightly from the prior year due to economic conditions, this was offset by an increase in our mortgage business. Fidelity Bank has prospered since 1970 through a combination of long-term planning, managed growth, and a prudent lending philosophy. These proven practices, combined with a knowledgeable team of experienced professionals and a dedicated commitment to our community, ensure that Fidelity Bank remains a successful and stable bank.

Fidelity Bank will be celebrating its 40th Anniversary in 2010. We take pride in giving our customers the highest level of service for the past 40 years. We are very thankful for the patronage of our customers, the loyalty of our employees, and the support of the Twin Cities' professional community.

We hope that this year brings repeated prosperity for you and your business.

Thank you for choosing Fidelity Bank!

Sincerely,

Charles R. Mueller
President/CEO

FIDELITY BANK STATEMENT OF CONDITION

ASSETS	2009	2008	2007
Cash and Due from Banks	$14,527,941	$11,322,707	$63,178,098
Investments	$25,172,149	$40,967,553	$37,036,206
Mortgage Loans Held for Sale	$144,054,641	$68,013,364	$56,294,719
Net Loans	$154,850,887	$184,257,062	$169,034,097
Goodwill and Intangible Assets	$26,308,948	$26,827,911	$27,346,874
Other Assets	$7,793,686	$5,671,162	$4,290,243
TOTAL ASSETS	$372,708,252	$337,059,759	$357,180,237

LIABILITIES AND EQUITY CAPITAL
Deposits	$213,029,372	$212,863,485	$280,002,724
Borrowing and Other Liabilities	$99,930,668	$69,202,178	$16,024,344
Shareholder's Equity	$59,748,212	$54,994,096	$61,153,169
TOTAL liabilities and shareholder's equity	$372,708,252	$337,059,759	$357,180,237

 

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