Fidelity Southern Corporation Reports First Quarter Loss; Pre-Tax, Pre-Provision Earnings Increase of 87%; Increased Liquidity Levels

ATLANTA, April 16 /PRNewswire-FirstCall/ -- Fidelity Southern Corporation ("Fidelity" or "the Company") (Nasdaq: LION), holding company for Fidelity Bank, reported a net loss of $3.4 million for the first quarter of 2009 compared to a net loss of $7.6 million for the fourth quarter of 2008 and net income of $1.1 million for the first quarter of 2008. Basic and diluted loss per share for the first quarter of 2009 were $.43 compared to a loss per share of $.80 for the fourth quarter of 2008 and earnings per share of $.12 for the first quarter in 2008. Fidelity's Core Earnings, defined as Pre-Tax, Pre-Provision Earnings, increased 86.7% on a sequential quarter basis for the first quarter of 2009 from $2.0 million to $3.8 million.

Chairman James B. Miller, Jr. said, "Management reduced loans outstanding to preserve capital until receiving TARP funds in December 2008. Since receiving this infusion of capital, we have ramped up our lending efforts in all divisions of the Company which will be beneficial in the coming months. The mortgage division's production has already increased. We are also beginning to see signs of a flattening of loan losses in indirect and in construction lending though we will continue to reserve aggressively until the turn is clear. We continue to look for relationships, good loans, and for additional lenders."

CAPITAL

Fidelity reported a total risk based capital ratio in the Bank of 12.50% at March 31, 2009, compared to 10.31% at March 31, 2008, reflecting the $48.2 million TARP investment from the U.S. Treasury in December 2008. The Leverage Capital ratio at the Bank was 9.27% at March 31, 2009 compared to 7.97% at March 31, 2008.

LIQUIDITY

The Company's net liquid asset ratio, defined as federal funds sold, investments maturing within 30 days, unpledged securities, available unsecured federal funds lines of credit, FHLB borrowing capacity and available brokered certificates of deposit divided by total assets increased from 5.8% at March 31, 2008 to 15.8% at March 31, 2009.

TARP

Miller also said, "The $48 million in preferred stock the Company issued under the TARP program in December allowed us to immediately expand our lending capacity. For example, in the first quarter of 2009, the mortgage division originated $85 million in new loans compared to $6 million during the first quarter of 2008."

In addition, we paid dividends on the preferred stock to the U.S. Treasury of $375,000 in the first quarter of 2009 which was a cost of $.06 per share in the first quarter of 2009.

ALLOWANCE AND PROVISION

Fidelity reported an increase in the allowance for loan losses to $35.5 million or 2.66% of total loans at March 31, 2009, from $19.0 million at March 31, 2008 and $33.7 million at year-end 2008.

The provision for loan losses for the first quarter of 2009 was $9.6 million compared to $4.6 million for the same period in 2008, due to increased charge-offs and the continued adverse credit trends in the construction and consumer loan portfolios. Net charge-offs increased $5.7 million to $7.8 million for the first quarter of 2009 when compared to the same period in 2008. However, the allowance for loan losses as a percentage of loans also increased from 1.34% at March 31, 2008, and 2.43% at December 31, 2008, to 2.66% at March 31, 2009.

OREO, CHARGE-OFFS, NONPERFORMING

Net charge-offs increased to $7.8 million in the first quarter of 2009 from $7.0 million in the fourth quarter of 2008, and $2.1 million for the first quarter of 2008. The ratio of net charge-offs to average loans outstanding was 2.32% for the first quarter of 2009 compared to .60% for the first quarter of 2008 and 1.36% at year end 2008.

Nonperforming loans, repossessions and other real estate totaled $123.5 million at the end of the first quarter, an increase of $8.3 million in the quarter from December 31, 2008.

Nonperforming residential construction and development loans at March 31, 2009, included 200 houses and 686 lots and land totaling approximately $93.0 million. During the quarter approximately $2.8 million of nonperforming loans were paid down by our customers while approximately $16.4 million in loans were moved to nonperforming.

During the first quarter, $2.5 million of ORE assets was sold while $3.9 million was added to ORE net of $523,000 in charge-downs. ORE consists of 49 houses, representing 58% of total balances, and 135 lots and three commercial properties. ORE increased to $16.5 million at March 31, 2009, from $15.1 million at December 31, 2008.

COST OF FUNDS

Cost of funds decreased 96 basis points to 3.37% for the first quarter of 2009, compared to the same period in 2008 as a result of moderating deposit pricing. Our "Totally Free" checking account balances increased 4.2% this quarter, while remote deposit transaction volume made up 8% of all deposit transactions in March 2009.

REAL ESTATE

New residential construction loan advances made during the quarter totaled $3.8 million, while the payoffs of construction loans totaled $16.8 million. There are 495 houses and 1,908 lots financed at March 31, 2009, compared to 696 houses and 2,086 lots at March 31, 2008.

Residential construction and A&D loans totaled $214.2 million at March 31, 2009, which was down 4.7% from $224.8 million at year-end 2008.

Total residential construction and land loans as a percentage of capital decreased from 124% at December 31, 2008, to 121% at March 31, 2009. The regulatory guideline is a maximum of 100%.

All real estate loans, except for owner-occupied properties, as a percentage of capital remained at 172% at March 31, 2009. The regulatory guideline is a maximum of 300%.

NET INCOME

The decrease in net income for the first quarter of 2009 compared to the prior year was primarily the result of a higher provision for loan losses due to higher charge-offs and adverse credit trends in the real estate construction and in the consumer loan portfolios requiring an increase in the allowance for loan losses.

NET INTEREST INCOME

Net interest income for the first quarter decreased $719,000 or 6.1% over the same period in 2008. The net interest margin decreased 23 basis points to 2.71% in the first quarter of 2009 compared to 2.94% in the first quarter of 2008. The decrease is the result of lower margins from reductions in the prime rate, foregone interest due to an increase in nonperforming assets and the continued pressures on the cost of deposits in the Atlanta market.

INTEREST INCOME

Total interest income for the first quarter of 2009 decreased $4.1 million or 15.1% compared to the same period in 2008. The decrease in interest income in the first quarter was the result of a decrease of 113 basis points in the yield on average interest-earning assets offset in part by the growth in average interest-earning assets for the first quarter 2009, which increased $43.2 million or 2.7%.

INTEREST EXPENSE

Interest expense for the first quarter 2009 decreased $3.4 million or 21.7% compared to the same period in 2008. The decrease in interest expense was attributable to an increase in average interest-bearing liabilities of $24.9 million more than offset by a 96 basis point decrease in the cost of interest-bearing liabilities.

NONINTEREST INCOME

Noninterest income increased $1.1 million and 20.0% to $6.8 million in the first quarter of 2009 compared to the same period in 2008. This increase in noninterest income was a result of higher mortgage banking activities as a result of the expansion of the mortgage division in the first quarter. Revenue from Mortgage banking activities increased to $3.6 million during the first quarter of 2009 compared to $70,000 during the same period of 2008. This increase was partially offset by lower securities gains, lower SBA lending activities, which decreased $236,000 or 57.0% to $178,000 and decreased indirect lending revenues of $442,000 or 27.9% to $1.1 million. Both the SBA lending activity and indirect lending revenues were hindered by the lack of liquidity in the economy resulting in fewer sales and lower gains on sales.

NONINTEREST EXPENSE

Noninterest expense for the first quarter increased $2.6 million or 23.1% to $14.0 million compared to the same period in 2008. The increase is a result of higher salaries and employee benefits of $983,000 or 14.2% to $7.9 million as the Bank increased the number of employees as a result of the expansion of the mortgage division, and higher other operating expense, which increased $1.6 million or 172.2% to $2.5 million due primarily to higher ORE expense and FDIC insurance premiums. Also, in the first quarter of 2008 the Company reversed a Visa litigation expense accrual of $567,000 which did not reoccur in 2009.

Fidelity Southern Corporation, through its operating subsidiaries Fidelity Bank and LionMark Insurance Company, provides banking services and credit related insurance products through 23 branches in Atlanta, Georgia, a branch in Jacksonville, Florida, and an insurance office in Atlanta, Georgia. SBA loans are provided through employees located throughout the Southeast. For additional information about Fidelity's products and services, please visit the website at www.FidelitySouthern.com.

This news release contains forward-looking statements, as defined by Federal Securities Laws, including statements about financial outlook and business environment. These statements are provided to assist in the understanding of future financial performance and such performance involves risks and uncertainties that may cause actual results to differ materially from those in such statements. Any such statements are based on current expectations and involve a number of risks and uncertainties. For a discussion of some factors that may cause such forward-looking statements to differ materially from actual results, please refer to the section entitled "Forward Looking Statements" on page 3 of Fidelity Southern Corporation's 2008 Annual Report filed on Form 10-K with the Securities and Exchange Commission.

                          FIDELITY SOUTHERN CORPORATION
                        CONSOLIDATED STATEMENTS OF INCOME
                                  (UNAUDITED)


    (DOLLARS IN THOUSANDS,              YEAR-TO-DATE
     EXCEPT PER SHARE DATA)               MARCH 31
                                          --------
                                       2009       2008
                                       ----       ----

    INTEREST INCOME
       LOANS, INCLUDING FEES        $21,211    $25,715
       INVESTMENT SECURITIES          2,091      1,716
       FEDERAL FUNDS SOLD AND
        BANK DEPOSITS                    30         42
                                         --         --
          TOTAL INTEREST
           INCOME                    23,332     27,473

    INTEREST EXPENSE
      DEPOSITS                       10,485     13,319
      SHORT-TERM BORROWINGS             190        747
      SUBORDINATED DEBT               1,203      1,408
      OTHER LONG-TERM DEBT              459        285
                                        ---        ---
          TOTAL INTEREST
           EXPENSE                   12,337     15,759
                                     ------     ------

    NET INTEREST INCOME              10,995     11,714

    PROVISION FOR LOAN LOSSES         9,600      4,600
                                      -----      -----

    NET INTEREST INCOME AFTER
     PROVISION FOR LOAN LOSSES        1,395      7,114

    NONINTEREST INCOME
      SERVICE CHARGES ON DEPOSIT
       ACCOUNTS                       1,023      1,163
      OTHER FEES AND CHARGES            471        464
      MORTGAGE BANKING ACTIVITIES     3,608         70
      INDIRECT LENDING  ACTIVITIES    1,144      1,586
      SBA LENDING ACTIVITIES            178        414
      SECURITIES GAINS, NET               -      1,264
      BANK OWNED LIFE INSURANCE         298        303
      OTHER OPERATING INCOME             93        413
                                         --        ---
        TOTAL NONINTEREST INCOME      6,815      5,677

    NONINTEREST EXPENSE
      SALARIES AND EMPLOYEE
       BENEFITS                       7,892      6,909
      FURNITURE AND EQUIPMENT           655        777
      NET OCCUPANCY                   1,079      1,039
      COMMUNICATION EXPENSES            350        388
      PROFESSIONAL AND OTHER
       SERVICES                       1,073        907
      ADVERTISING AND PROMOTION         232        156
      STATIONERY, PRINTING
       AND SUPPLIES                     126        179
      INSURANCE EXPENSES                 82        102
      OTHER OPERATING EXPENSES        2,531        930
                                      -----        ---
        TOTAL NONINTEREST  EXPENSE   14,020     11,387
                                     ------     ------

    (LOSS) INCOME BEFORE
     INCOME TAX (BENEFIT) EXP        (5,810)     1,404
    INCOME TAX (BENEFIT) EXPENSE     (2,434)       295
                                     ------        ---

    NET (LOSS) INCOME                (3,376)     1,109
    PREFERRED STOCK DIVIDENDS           823          -
                                        ---          -
    NET INCOME AVAILABLE TO
     COMMON EQUITY                  $(4,199)    $1,109
                                    =======     ======

    (LOSS) EARNINGS PER SHARE:
          BASIC (LOSS) EARNINGS
           PER SHARE                 $(0.43)     $0.12
                                     ======      =====
          DILUTED (LOSS)
           EARNINGS PER
           SHARE                     $(0.43)     $0.12
                                     ======      =====

    WEIGHTED AVERAGE COMMON
      SHARES OUTSTANDING-
       BASIC                      9,676,533  9,469,909
                                  =========  =========

    WEIGHTED AVERAGE COMMON
      SHARES OUTSTANDING-
       FULLY DILUTED              9,676,533  9,469,909
                                  =========  =========



                         FIDELITY SOUTHERN CORPORATION
                          CONSOLIDATED BALANCE SHEETS
                                  (UNAUDITED)


      (DOLLARS IN THOUSANDS)           MARCH 31,   DECEMBER 31,  MARCH 31,
      ASSETS                             2009          2008        2008
                                         ----          ----        ----

      CASH AND DUE FROM  BANKS        $69,153       $68,841     $28,641
      FEDERAL FUNDS SOLD               10,525        23,184      13,788
                                       ------        ------      ------
          CASH AND CASH
           EQUIVALENTS                 79,678        92,025      42,429
      INVESTMENTS AVAILABLE-
       FOR-SALE                       252,875       128,749     118,386
      INVESTMENTS HELD-TO-
       MATURITY                        23,715        24,793      27,978
      INVESTMENT IN FHLB STOCK          6,767         5,282       6,632
      LOANS HELD-FOR-SALE             107,204        55,840      58,094
      LOANS                         1,336,141     1,388,022   1,417,722
      ALLOWANCE FOR LOAN LOSSES       (35,503)      (33,691)    (19,046)
                                      -------       -------     -------
      LOANS, NET                    1,300,638     1,354,331   1,398,676
      PREMISES AND EQUIPMENT,
       NET                             18,961        19,311      19,239
      OTHER REAL ESTATE                16,474        15,063       8,200
      ACCRUED INTEREST
       RECEIVABLE                       7,910         8,092       8,490
      BANK OWNED LIFE INSURANCE        28,143        27,868      26,957
      OTHER ASSETS                     32,958        31,759      20,612
                                       ------        ------      ------

                TOTAL ASSETS       $1,875,323    $1,763,113  $1,735,693
                                   ==========    ==========  ==========

      LIABILITIES

      DEPOSITS:
          NONINTEREST-BEARING
           DEMAND                    $141,802      $138,634    $130,594
          INTEREST-BEARING DEMAND/
           MONEY MARKET               220,137       208,723     283,454
          SAVINGS                     264,669       199,465     218,483
          TIME DEPOSITS, $100,000
           AND OVER                   308,411       317,540     301,009
          OTHER TIME DEPOSITS         596,113       579,320     468,954
                                      -------       -------     -------
               TOTAL DEPOSIT
                LIABILITIES         1,531,132     1,443,682   1,402,494


      FEDERAL FUNDS PURCHASED               -             -      27,000
      OTHER SHORT-TERM
       BORROWINGS                      52,047        55,017      79,348
      SUBORDINATED DEBT                67,527        67,527      67,527
      OTHER LONG-TERM DEBT             77,500        47,500      45,000
      ACCRUED INTEREST PAYABLE          6,330         7,038       7,070
      OTHER LIABILITIES                 6,799         5,745       6,157
                                        -----         -----       -----
                TOTAL LIABILITIES   1,741,335     1,626,509   1,634,596

      SHAREHOLDERS' EQUITY

      PREFERRED STOCK                  44,034        43,813           -
      COMMON STOCK                     52,197        51,886      46,300
      ACCUMULATED OTHER
       COMPREHENSIVE INCOME             2,385         1,333         522
      RETAINED EARNINGS                35,372        39,572      54,275
                                       ------        ------      ------
                TOTAL SHAREHOLDERS'
                 EQUITY               133,988       136,604     101,097
                                      -------       -------     -------

                TOTAL LIABILITIES
                 AND
                 SHAREHOLDERS'
                 EQUITY            $1,875,323    $1,763,113  $1,735,693
                                   ==========    ==========  ==========

      BOOK VALUE PER SHARE              $8.80         $9.15      $10.67
                                        =====         =====      ======
      SHARES OF COMMON STOCK
       OUTSTANDING                  9,752,696     9,658,089   9,474,855
                                    =========     =========   =========



                          FIDELITY SOUTHERN CORPORATION
                    ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES
                                    (UNAUDITED)

    (DOLLARS IN THOUSANDS)          YEAR TO DATE         YEAR ENDED
                                      MARCH 31,         DECEMBER 31,
                                      ---------         ------------
                                    2009      2008          2008
                                    ----      ----          ----

    BALANCE AT BEGINNING OF
     PERIOD                      $33,691   $16,557       $16,557
    CHARGE-OFFS:
      COMMERCIAL, FINANCIAL AND
       AGRICULTURAL                  299        14            99
      SBA                            249         -           220
      REAL ESTATE-CONSTRUCTION     3,642       535         9,083
      REAL ESTATE-MORTGAGE            63        11           332
      CONSUMER INSTALLMENT         3,756     1,869        10,841
                                   -----     -----        ------
        TOTAL CHARGE-OFFS          8,009     2,429        20,575
    RECOVERIES:
      COMMERCIAL, FINANCIAL AND
       AGRICULTURAL                    6         -             5
      SBA                              -        56           215
      REAL ESTATE-CONSTRUCTION         9         -            43
      REAL ESTATE-MORTGAGE             -        13            14
      CONSUMER INSTALLMENT           206       249           882
                                     ---       ---           ---
        TOTAL RECOVERIES             221       318         1,159
                                     ---       ---         -----
    NET CHARGE-OFFS                7,788     2,111        19,416
    PROVISION FOR LOAN LOSSES      9,600     4,600        36,550
                                   -----     -----        ------
    BALANCE AT END OF PERIOD     $35,503   $19,046       $33,691
                                 =======   =======       =======


    RATIO OF NET CHARGE-OFFS
     DURING PERIOD TO AVERAGE
     LOANS OUTSTANDING, NET         2.32%     0.60%         1.36%
    ALLOWANCE FOR LOAN LOSSES
     AS A PERCENTAGE OF LOANS       2.66%     1.34%         2.43%



                            NONPERFORMING ASSETS
                                (UNAUDITED)

    (DOLLARS IN THOUSANDS)
                                                   MARCH 31,
                                                   ---------
                                              2009          2008
                                              ----          ----

    NONACCRUAL LOANS                      $105,215       $26,415
    REPOSSESSIONS                            1,860         2,341
    OTHER REAL ESTATE                       16,474         8,200
                                            ------         -----
        TOTAL NONPERFORMING ASSETS        $123,549       $36,956
                                          ========       =======

    LOANS PAST DUE 90 DAYS OR MORE AND
     STILL ACCRUING                             $-          $125

    RATIO OF LOANS PAST DUE 90 DAYS OR
      MORE AND STILL ACCRUING TO TOTAL
      LOANS                                      -%            -%

    RATIO OF NONPERFORMING ASSETS TO
     TOTAL LOANS OREO, AND REPOSSESSIONS      8.45%         2.50%



                         FIDELITY SOUTHERN CORPORATION
                              LOANS, BY CATEGORY
                                  (UNAUDITED)


    (DOLLARS IN THOUSANDS)
                                 MARCH 31,      DECEMBER 31,      MARCH 31,
                                   2009             2008            2008
                                   ----             ----            ----

    COMMERCIAL, FINANCIAL AND
     AGRICULTURAL                 $129,530         $137,988       $119,163
    TAX-EXEMPT COMMERCIAL            7,283            7,508          9,014
    REAL ESTATE MORTGAGE -
     COMMERCIAL                    209,847          202,516        186,961
                                   -------          -------        -------
          TOTAL COMMERCIAL         346,660          348,012        315,138
    REAL ESTATE-CONSTRUCTION       228,578          245,153        287,248
    REAL ESTATE-MORTGAGE           115,971          115,527         97,980
    CONSUMER INSTALLMENT           644,932          679,330        717,356
                                   -------          -------        -------
      LOANS                      1,336,141        1,388,022      1,417,722
    LOANS HELD-FOR-SALE:
      ORIGINATED RESIDENTIAL
       MORTGAGE LOANS               55,691              967          2,121
      SBA LOANS                     36,513           39,873         29,973
      INDIRECT AUTO LOANS           15,000           15,000         26,000
                                    ------           ------         ------
           TOTAL LOANS HELD-FOR-
            SALE                   107,204           55,840         58,094
                                   -------           ------         ------
                TOTAL LOANS     $1,443,345       $1,443,862     $1,475,816
                                ==========       ==========     ==========



     (DOLLARS IN THOUSANDS)              PERCENT CHANGE
                                         --------------

                                 March 31, 2009/ March 31, 2009/
                                 Dec. 31, 2008   March 31, 2008
                                 -------------   --------------


    COMMERCIAL, FINANCIAL AND
     AGRICULTURAL                    (6.13)%           8.70%
    TAX-EXEMPT COMMERCIAL            (3.00)%         (19.20)%
    REAL ESTATE MORTGAGE -
     COMMERCIAL                       3.62%           12.24%
          TOTAL COMMERCIAL           (0.39)%          10.00%
    REAL ESTATE-CONSTRUCTION         (6.76)%         (20.42)%
    REAL ESTATE-MORTGAGE              0.38%           18.36%
    CONSUMER INSTALLMENT             (5.06)%         (10.10)%
      LOANS                          (3.74)%          (5.75)%
    LOANS HELD-FOR-SALE:
      ORIGINATED RESIDENTIAL
       MORTGAGE LOANS             5,659.15%        2,525.70%
      SBA LOANS                      (8.43)%          21.82%
      INDIRECT AUTO LOANS             0.00%          (42.31)%
           TOTAL LOANS HELD-FOR-
            SALE                     91.98%           84.54%
                TOTAL LOANS



                      FIDELITY SOUTHERN CORPORATION
                   AVERAGE BALANCE, INTEREST AND YIELDS
                                 (UNAUDITED)

                                     YEAR TO DATE
                                     ------------
                                    March 31, 2009
                                    --------------
                                Average   Income/ Yield/
    (dollars in thousands)      Balance   Expense  Rate
                                -------   -------  ----
    Assets
    Interest-earning assets :
    Loans, net of unearned income
      Taxable                 $1,441,862  $21,144   5.94%
      Tax-exempt (1)               7,435      101   5.60%
                                   -----      ---
         Total loans           1,449,297   21,245   5.94%

    Investment securities
      Taxable                    169,412    1,935   4.57%
      Tax-exempt (2)              15,215      229   6.01%
                                  ------      ---
         Total investment
          securities             184,627    2,164   4.71%

    Interest-bearing
     deposits                      4,970       19   1.53%
    Federal funds sold            20,793       11   0.22%
                                  ------       --
         Total interest-
          earning assets       1,659,687   23,439   5.73%

    Cash and due from  banks      46,208
    Allowance for loan losses    (32,659)
    Premises and equipment,
     net                          19,142
    Other real estate owned       18,301
    Other assets                  64,642
                                  ------
         Total assets         $1,775,321
                              ==========


    Liabilities and shareholders'
     equity
    Interest-bearing liabilities:
    Demand deposits             $205,100     $607   1.20%
    Savings deposits             224,563    1,409   2.54%
    Time deposits                888,513    8,469   3.87%
                                 -------    -----
         Total interest-
          bearing
          deposits             1,318,176   10,485   3.23%

    Federal funds purchased            -        -   0.00%
    Securities sold under
     agreements to repurchase     42,594      175   1.67%
    Other short-term
     borrowings                    2,500       15   2.47%
    Subordinated debt             67,527    1,203   7.22%
    Long-term debt                54,667      459   3.41%
                                  ------      ---
         Total interest-
          bearing
          liabilities          1,485,464   12,337   3.37%

    Noninterest-bearing:
    Demand deposits              141,250
    Other liabilities             13,446
    Shareholders' equity         135,161
                                 -------
      Total liabilities and
       shareholders'
       equity                 $1,775,321
                              ==========

    Net interest income / spread          $11,102   2.36%
                                          =======
    Net interest margin                             2.71%




                                    March 31, 2008
                                    --------------
                                Average   Income/ Yield/
    (dollars in thousands)      Balance   Expense  Rate
                                -------   -------  ----
    Assets
    Interest-earning assets:
    Loans, net of unearned
     income
      Taxable                 $1,462,829  $25,603   7.04%
      Tax-exempt (1)               9,095      168   7.45%
                                   -----      ---
         Total loans           1,471,924   25,771   7.04%

    Investment securities
      Taxable                    128,666    1,604   4.99%
      Tax-exempt (2)              10,762      173   6.37%
                                  ------      ---
         Total investment
          securities             139,428    1,777   5.10%

    Interest-bearing deposits      1,499       12   3.23%
    Federal funds sold             3,609       30   3.42%
                                   -----       --
         Total interest-
          earning assets       1,616,460   27,590   6.86%

    Cash and due from banks       21,448
    Allowance for loan losses    (18,114)
    Premises and  equipment,
     net                          18,985
    Other real estate owned        7,873
    Other assets                  55,633
                                  ------
         Total assets         $1,702,285
                              ==========


    Liabilities and shareholders'
     equity
    Interest-bearing liabilities:
    Demand deposits             $304,212   $2,179   2.88%
    Savings deposits             218,081    1,886   3.48%
    Time deposits                754,181    9,254   4.94%
                                 -------    -----
         Total interest-
          bearing
          deposits             1,276,474   13,319   4.20%

    Federal funds purchased       17,703      154   3.50%
    Securities sold under
     agreements to repurchase     26,887      187   2.80%
    Other short-term
     borrowings                   42,549      406   3.83%
    Subordinated debt             67,527    1,408   8.36%
    Long-term debt                29,396      285   3.90%
                                  ------      ---
         Total interest-
          bearing
          liabilities          1,460,536   15,759   4.33%

    Noninterest-bearing:
    Demand deposits              127,542
    Other liabilities             15,062
    Shareholders' equity          99,145
                                  ------
      Total liabilities and
         shareholders'
          equity              $1,702,285
                              ==========

    Net interest income / spread          $11,831   2.53%
                                          =======
    Net interest margin                             2.94%


    (1)  Interest income includes the effect of taxable-equivalent
         adjustment for 2009 and 2008 of $34,000 and $56,000, respectively
    (2)  Interest income includes the effect of taxable-equivalent
         adjustment for 2009 and 2008 of $73,000 and $61,000, respectively.

    Contacts:
    Martha Fleming, Steve Brolly
    Fidelity Southern Corporation (404) 240-1504

SOURCE Fidelity Southern Corporation

RELATED LINKS
http://www.fidelitysouthern.com