POMPANO BEACH, FL--(Marketwired - Mar 31, 2014) - Stonegate Bank (
"This registration and ultimate listing on NASDAQ will provide additional liquidity to our shareholders going forward," stated David Seleski, President and CEO of Stonegate Bank. "In addition, financial transparency should increase the profile of the Bank and attract additional investors and increased interest from financial analysts."
About Stonegate Bank
Stonegate Bank is a Florida-chartered commercial bank headquartered in Pompano Beach, Florida. The Bank is a full-service commercial bank providing a wide range of business and consumer financial services in its target market area, which is comprised primarily of Broward, Charlotte, Collier, Hillsborough, Lee, Miami-Dade, Palm Beach and Sarasota Counties in Florida, through its 17 banking offices. The Bank's principal executive office and mailing address is 400 North Federal Highway, Pompano Beach, Florida 33062 and its telephone number is (954) 315-5500.
FORWARD-LOOKING STATEMENTS
Forward-looking statements in this Press Release are based on current plans and expectations that are subject to uncertainties and risks, which could cause the Bank's future results to differ materially. The following factors, among others, could cause the Bank's actual results to differ: the strength of the United States economy in general and the strength of the local economies in which the Bank conducts its operations; the loss of the Bank's key personnel; the accuracy of the Bank's financial statement estimates and assumptions, including the Bank's allowance for loan losses; the Bank's need and its ability to incur additional debt or equity financing; the Bank's ability to execute its growth strategy through expansion; inflation, interest rate, market and monetary fluctuations; the effects of the Bank's lack of a diversified loan portfolio, including the risk of geographic concentration; the frequency and magnitude of foreclosure of the Bank's loans; effect of changes in the stock market and other capital markets; legislative or regulatory changes; the effects of harsh weather conditions, including hurricanes; the Bank's ability to comply with the extensive laws and regulations to which it is subject; changes in the securities and real estate markets; increased competition and its effect on pricing; technological changes; changes in monetary and fiscal policies of the U.S. Government; the effects of security breaches and computer viruses that may affect the Bank's computer systems; changes in consumer spending and saving habits; changes in accounting principles, policies, practices or guidelines; anti-takeover provisions under Federal and state law as well as the Bank's Articles of Incorporation and bylaws; and the Bank's ability to manage the risks involved in the foregoing. Additional factors can be found in the Bank's Registration Statement on Form 10 and the Bank's other filings with the FDIC, which are available at the FDIC's internet site (http://www2.fdic.gov/efr). Forward-looking statements in this Press Release speak only as of the date of the Press Release, and the Bank assumes no obligation to update forward-looking statements or the reasons why actual results could differ.
Contact Information:
MEDIA CONTACT:
Ansley Campbell
Sissy DeMaria
Kreps DeMaria
(305) 663-3543