Fidelity Bank, inspired by downtown development, announces new Spartanburg regional offices
Fidelity Bank, which recently expanded into the Upstate market due to explosive economic growth, has announced the purchase of a site at the northern gateway to downtown for its future Spartanburg regional office.
The bank purchased the former First Citizens Bank & Trust site at 305 N. Church St. for $1.38 million, according to Brian Murdoch, senior vice president at Fidelity Bank. He said Fidelity plans to demolish the former structure and build a two-story office building,
The new building will feature multiple offices, a conference room, drive-thru lanes, an ATM and a night drop. It will be staffed by 10 to 12 employees, including branch staff and commercial and residential lending departments.
In addition to Murdoch, the executive team includes Spartanburg natives Jonathan Walker, senior business development officer; Tenita Miller, branch services manager; and Jennifer Cothran, business loan assistant.
"We are so excited to bring the 'Right by You' philosophy and a team with over 75 years of experience in community banking to downtown Spartanburg. And this location at the corner of North Church Street and Daniel Morgan Avenue will allow us to do just that," Murdoch said.
"We are excited to be part of the downtown development and will be making a substantial investment in this new office construction," he added.
Murdoch said Allen Smith, president and CEO of OneSpartanburg, Inc., and City Manager Chris Story assisted in Fidelity Bank's search for a location.
Murdoch said construction should begin within the next three to four months.
First Fidelity came to Spartanburg in February, operating from a temporary location at 101 Lafayette St., Suite D.
"Having several offices in the greater Charlotte area, a new branch in Greenville, and with the significant market growth in Upstate South Carolina, Spartanburg was a perfect expansion market for the bank," Mary Willis, Fidelity Bank president and CEO, said in a statement.
Smith said Spartanburg's economic growth is attracting the attention of financial institutions that years ago wouldn't have considered having a physical presence in Spartanburg.
"Given the pipeline and robust deal flow, I'm quite confident that we will continue to welcome new banks to Spartanburg," Smith said. "We've reached a point in which the market is just too strong to ignore."
Fidelity Bank, headquartered in Fuquay-Varina, North Carolina is a 113-year-old bank serving small to medium-sized businesses with banking, mortgage, investment and wealth management services. The bank owns and operates 57 branches throughout North Carolina, South Carolina and Virginia.
Meanwhile, Coastal Carolina National Bank will hold a grand opening of its Spartanburg branch at 142 Magnolia St., on Wednesday, June 28.
OneSpartanburg, Inc., will lead a ribbon-cutting ceremony at 10 a.m., and lunch will follow at Blue Moon Café from 11:30 a.m. to 2 p.m.
Headquartered in Myrtle Beach, Coastal Carolina National Bank also has branches in Garden City, North Myrtle Beach, Conway, Aiken, Columbia and Greenville in South Carolina.
"It isn't lost on the business community that these two institutions, Fidelity and CCNB, along with all the other existing banks, are investing in our community by having a physical location and hiring local people," Smith said. "In Spartanburg, that still matters.
"Access to capital and capital options re key economic drivers for businesses of all sizes," Smith added. "More banks mean more competition and better access to capital here locally. We are most appreciative of the investment made both by Fidelity Bank and Coastal Carolina National Bank."
This article originally appeared on Herald-Journal: Fidelity Bank plans regional office at Spartanburg gateway location
