Fidelity Southern in Atlanta has issued $75 million in subordinated debt.

The $3.2 billion-asset company issued the notes, due 2030, on Friday on behalf of its Fidelity Bank subsidiary. The notes have an annual fixed rate of 5.875% through May 31, 2025. The notes then switch to a floating rate through May 31, 2030, equal to the three-month Libor, based on the determination date of the interest period plus 363 basis points.

The proceeds will be counted as Tier 2 regulatory capital and Fidelity plans to use the proceeds for general corporate purposes, including possible acquisitions. Fidelity has been involved in several recent branch deals, including the acquisition of the entire Florida branch network of First Banks of Clayton, Mo.

Keefe, Bruyette & Woods was lead placement agent on Fidelity's offering.

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