Fidelity Bank’s Fall eNewsletter: October 2020

By Fidelity Bank
Posted: October 29, 2020

Thought Leadership:
Financing Equipment During Economic Uncertainty

No matter what industry you are in, capital equipment likely makes up a significant part of your balance sheet. When the time comes to replace failing equipment, upgrade outdated machines, or acquire new equipment to meet growing demand, these purchases represent a significant investment.

With an ongoing global pandemic and continued economic uncertainty, business owners may be wondering if now is the right time to invest in new equipment. In fact, for many businesses, this is the perfect time to take advantage of historically low interest rates and maximize the tax benefits available through equipment financing and leasing.

Read the full article to learn about:

  • How to preserve cash
  • Options for maximizing tax benefits
  • Opportunities to reevaluate past purchases and existing financing
  • When to consider pre-approved financing

Read the full article.

Mark Paetznick VP photo

By Mark Paetznick
Vice President
Equipment Finance
and Leasing

Fidelity Bank

Fidelity Bank Turned 50 This Month!

We first opened our doors to customers in Edina, Minn. on October 8, 1970. The bank was originally chartered in September 1970 as Southwest Fidelity State Bank of Edina and affiliated with Fidelity Bank and Trust in northeast Minneapolis. Fifty years later, it is one of the few remaining locally owned and operated community banks.

Today, 50 years later, we serve primarily small to mid-size businesses and offers a full spectrum of business banking services, including commercial lending, mortgage warehouse funding, equipment financing, equipment leasing, cash management, and factoring services.

This year we asked people to celebrate our 50th Anniversary with us virtually.

Visit our 50th Anniversary page


With an ESOP, there are many winners in the sale of a business

 

For many business owners, a succession plan is about more than creating an exit strategy or profiting from the sale of the company. It’s about preserving a legacy in a way that benefits the company and its employees as well as the business owner(s). One way to do that is by selling the business to your employees through an employee stock ownership plan, or ESOP.

With an ESOP, business owners sell some or all of their shares to a trust that manages the company’s stock. Employees get an ownership stake in the company and a potentially valuable retirement benefit. The sellers receive a fair price for their shares and have the option to remain involved in the business. The business benefits from continuity and stability.

Read more about ESOPs in this article
Originally published in the Star Tribune

New Fidelity Bank President: Todd Williams

 

We recently announced Todd Williams as the new president of Fidelity Bank.

Todd has been with the bank for more than 30 years, starting his career as a credit analyst and later moving to commercial lending. In 2002, he was promoted to the head of commercial lending. He was appointed executive vice president in 2017, at which point he took on more of the bank’s strategic leadership.

Fidelity Bank’s board of directors voted unanimously to promote Todd Williams to president. Williams succeeds outgoing president Charles Mueller, who will continue in the role of chief executive officer while supporting Todd in his new role.

Read the full article.

Fidelity Bank is Hiring!

We are looking for talented professionals to join our team. We have opportunities for a Marketing Manager, VP of Cash Management, VP Commercial Loan Officer, VP Commercial Loan Officer – Mortgage Warehouse, Accounting Analyst, and others.

Click here to view openings.

Your Bank. Your Way. Banking At Your Fingertips.

Connections make the difference: we’re committed to helping you stay connected with several remote banking solutions designed to securely and safely support your business in-person, online, or on mobile. Personal connections are always at the center of our bank.

Learn more about connecting your way

 

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p: (952) 831-6600

w: www.fidelitybankmn.com

e: businessbanking@fidelitybankmn.com

 
This publication does not constitute legal, accounting or other professional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material. Websites not belonging to this organization are provided for information only. No endorsement is implied.
 

Member FDIC and Equal Housing Lender logo © 2020 Fidelity Bank. All Rights Reserved.

 

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