Fidelity Bank Research
Overview
Fidelity Bank is a community-focused financial institution headquartered in Fuquay-Varina, North Carolina, founded in 1909 as the Bank of Fuquay. With over 115 years of continuous independent operation, Fidelity Bank has grown to serve customers across North Carolina, South Carolina, and Virginia through multiple banking centers. The bank recently underwent a significant corporate restructuring in October 2024, converting from mutual to stock form and becoming a wholly-owned subsidiary of FB Bancorp, Inc. This transformation positions Fidelity Bank for strategic growth while maintaining its community-focused mission statement of being "Right By You."
Primary Business Model: SBA Lending and Community Banking
Fidelity Bank's core advisory and lending practice centers on Small Business Administration (SBA) financing, serving as a dedicated resource for small business owners seeking growth capital, acquisition financing, and operational loans. The bank operates through a specialized SBA Lending division with distinct teams focused on business development, loan operations, and credit administration. This division is substantially sized with multiple senior vice presidents, vice presidents, and support specialists across three operational areas: Business Development, Operations, and Credit Administration.
SBA Lending Program Capabilities
The bank offers comprehensive SBA loan solutions across three primary programs: SBA 7(a) loans for working capital and business acquisition (designed for enterprises seeking $25K to $5M+ in financing), SBA 504 loans for fixed asset financing including machinery, land, and facilities (typical range $150K to $15M+), and USDA Business & Industry loans targeting rural community development. These programs serve small business owners in industries ranging from retail and food service to professional services, manufacturing, and technology.
Business Development and Advisory Approach
Fidelity Bank's SBA lending team emphasizes a relationship-based, hands-on approach to business advisory. The bank's process includes comprehensive guidance through loan applications, underwriting, and closing. Key business development leadership includes Michael Byers, Director of SBA Sales and Senior Vice President (who previously served as Associate Director at Wharton Gladden providing strategic advisory services), along with a dedicated team of business development officers including Rob Forslund, Michael Goddard, Shirley Polanco, Jeremy White, Julia Robertson, and Hunter Ruiz. These officers typically bring 5-15+ years of SBA lending and business finance experience.
Operations and Credit Administration
Supporting the lending process is a robust operations and credit administration team. Lucia Guerra serves as Director of SBA Administration with extensive portfolio management expertise. The credit administration team, led by Patrick Bears as Manager of SBA Credit Administration, includes senior credit analysts and credit officers responsible for underwriting, structuring, and ongoing portfolio management. This operational infrastructure reflects the bank's commitment to institutional-quality loan processing and client success.
Advisory Services Beyond SBA Lending
In addition to traditional SBA lending, Fidelity Bank offers broader financial advisory services through partnerships with LPL Financial for securities and investment advisory services. The bank's wealth management division provides investment management, trust services, and financial planning. These services complement the core SBA lending business and provide customers with comprehensive financial solutions.
Community Focus and Values
Fidelity Bank maintains a strong commitment to community development. The bank is actively involved in local sponsorships, employee volunteerism, and financial literacy programs. Customer testimonials emphasize the bank's patient guidance, availability of leadership, and genuine investment in client success. Success stories document business owners in diverse sectors (including Potbelly Sandwich Shop, R2R Critical, and Tap-In Entertainment) who credit Fidelity Bank's expertise and commitment with enabling their business growth.
Geographic Coverage and Market Position
The bank serves markets across central and eastern North Carolina, South Carolina, and Virginia through multiple banking centers. The Fuquay-Varina headquarters, combined with branch locations in major metros including Greensboro and Raleigh, NC; Charlotte and other South Carolina locations; and Virginia offices, provides local market expertise while maintaining community bank values.
Recent Market Activity and Strategic Position
Fidelity Bank completed its evolution from mutual to stock ownership in October 2024, positioning the organization for potential strategic acquisitions and partnerships. The bank recently divested its mortgage lending division (NOLA Lending Group) to First Federal Bank in January 2026, allowing the organization to focus resources on core SBA lending and business advisory services.
Sweet Spot and Ideal Client Profile
Fidelity Bank's core market comprises owner-managed small businesses seeking $25K to $5M in growth capital, acquisition financing, or working capital solutions. The bank is particularly effective for business owners who value relationship-based lending, patient guidance through the process, and a lender that understands operational challenges. Industries served include food service and hospitality, professional services, manufacturing, technology, retail, and business services.
Competitive Differentiation
Unlike national SBA lenders, Fidelity Bank emphasizes local relationship management, accessible leadership, and deep community knowledge. The bank's dedicated SBA team—not scattered loan officers—brings institutional focus to business lending. As a community bank, Fidelity offers decision-making speed and flexibility unavailable from large regional or national lenders. The organization's 115-year heritage and commitment to community stability provide borrowers confidence in long-term partnership rather than transactional lending.
Fee Structure
SBA lending fees follow federal guidelines: SBA 7(a) loans typically include guarantee fees (approximately 2.75% for most transactions), lender fees, and ongoing servicing. The bank's pricing is competitive with regional and national SBA lenders while maintaining the community service advantage.
Team Leadership
The SBA Lending team is led by Michael Byers as Director of SBA Sales, supported by a management structure that includes business development officers, operations specialists, and credit professionals. Team members average 8-15 years of SBA and commercial lending experience. The organization emphasizes client relationship ownership and collective accountability for deal success.
Looking Forward
Following its conversion to stock form and recent mortgage business divestiture, Fidelity Bank is positioning itself for focused growth in its core SBA and business advisory practice. The bank's community focus, relationship-based model, and operational depth position it as a key resource for small business growth across the Carolinas and Virginia region.