United Fidelity Bank Finances Over $2.7 Billion in Affordable Housing Loans and Investments in 2022
(Evansville, IN – January 25, 2023) – In conjunction with its mission to help alleviate the shortage of critical affordable housing for low-and-moderate income families, United Fidelity Bank (“Bank”), announced today that it financed or developed over $2.7 billion in affordable housing loans and investments in 2022. These loans and investments made housing available to an estimated 12,000 individuals or families nationwide, much of which were in markets and states that the Bank already serves.
Donald R. Neel, President and CEO commented, “We are proud of our associates in their efforts to create more affordable housing in our markets and the country at large. However, there remains much work to do. The gap between the supply and demand for low-and-moderate income housing has never been wider. United Fidelity will continue the battle to make housing available and affordable for those that need it the most.” Neel further noted, “The bank and its holding company recently raised or have commitments for approximately $34 million in new capital to assist United Fidelity Bank and its housing-related subsidiaries to continue to address these needs.”
About the Bank and Company
United Fidelity Bank, founded in 1914, is the federally chartered, FDIC-insured savings bank subsidiary of Fidelity Federal Bancorp. Upon completion of its recently announced merger with Rockhold Bancorp the Bank will have approximately $6.0 billion in assets and 31locations in Indiana, Illinois, Colorado, Florida, California, Missouri, and the US Virgin Islands. United Fidelity is committed to helping build prosperous communities through innovative financial solutions, and significant affordable housing-related activities. For more information, you can visit United Fidelity Bank online at http://www.unitedfidelity.com.
This press release includes “forward-looking statements” within the meaning of such term in the federal securities laws. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking statements presented in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by such forward-looking statements. Any forward-looking statements presented herein are made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.