New Orleans-based Fidelity Homestead Savings Bank has changed its name to Fidelity Bank, a move that more closely reflects the company’s services, President and Chief Executive Officer Alton McRee said.
Fidelity was founded in 1908 as a homestead association, focusing on residential lending and savings accounts.
Today, Fidelity offers a full array of banking services, including deposits and loans to commercial, small-business, residential and consumer customers.
“It is a natural evolution to change our name to Fidelity Bank because it more closely reflects our capabilities and what we are able to deliver to our ever-evolving customer base,” McRee said.
Fidelity is the largest mutual bank — mutuals are owned by their members — in the Gulf region with roughly $850 million in assets.
In January, Fidelity acquired NOLA Lending Group, which became a division of Fidelity. Fidelity Bank has 18 full-service branches in southeast Louisiana. The NOLA Lending division has 22 offices across Louisiana, Mississippi, Texas and Florida that meet the residential borrowing needs of customers in those markets. Fidelity Bank now has about 400 employees.
Gradual changes to branch signage will take place over the coming months, while customers will continue to receive the same service. Decisions will continue to be made locally, and the name change will not alter the ownership structure, which remains a mutual bank owned by its deposit account holders, Fidelity said.