Fidelity Bank Releases 2018 Annual Report, Company Grows 14.2%

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Thursday, May 02, 2019

GoLocalWorcester Business Team

Fidelity Bank has released its 2018 annual report on Wednesday.

The report shows that the company grew by 14.2% reaching total assets of $935 million, up $116 million from 2017.

Read the Report Here

“We grew in each area of our business this year,” “From investing in more local businesses to providing our clients with mortgages for homeownership to having staff supporting local nonprofits, I could not be happier with the work we have accomplished,” said Ed Manzi, Jr., Fidelity Bank Chairman and CEO.

Fidelity Bank shared its 2018 financial data and community growth at its annual meeting on April 4.

Highlights of the Report

Highlights of the report include:

Invested in more than 90 local businesses, providing more than $129 million in commercial loans.
Fidelity Bank’s LifeDesign promise was introduced to 1,684 new client households in 2018.
Provided over $132 million in mortgages and home equity loans to help clients realize their dream of homeownership, up size or downsize to the perfect home, or make improvements on a home they already own.

New Corporators Announced

Bank officials also announced the election of two new corporators of Fidelity Mutual Holding Company.

They are Charisse Murphy, the Director of Development at YOU (Youth Opportunities Upheld) Inc., in Worcester and Cynthia Ring, Chief People Officer at Harvard Pilgrim Healthcare.

Both will serve a ten-year term.

Brian Cirelli, Scott Howard, Ronald Marchetti, and Maureen Marshall were re-elected to serve a three-year term as directors of the Fidelity Mutual Holding Company.

Alvin Collins was re-elected Clerk of Fidelity Mutual Holding Company and Judy Khallady was re-elected as Assistant Clerk of Fidelity Mutual Holding Company. Both will serve a one year term.