SOURCE: Stonegate Bank

Stonegate Bank

January 28, 2016 16:30 ET

Stonegate Bank Announces Fourth Quarter 2015 Operating Results

POMPANO BEACH, FL--(Marketwired - Jan 28, 2016) - Stonegate Bank (NASDAQ: SGBK) ("Stonegate") reported net income of $7.3 million for the fourth quarter of 2015 or $0.56 per diluted common share, as compared to net income of $6.8 million for the third quarter of 2015 or $0.53 per diluted common share.

Key highlights for the fourth quarter:

  • Loans: Total loans, net of discounts and deferred fees, grew $19.5 million during the fourth quarter of 2015 to $1.86 billion at December 31, 2015, a result of net organic loan growth during the fourth quarter. Commercial real estate ("CRE") comprised 48% of new loan originations for the fourth quarter of 2015, based upon the outstanding balance as of December 31, 2015. Residential loans accounted for 28% of the new loan originations; 14% of the new originations were construction; commercial and industrial ("C&I") was 9% of new originations with the remaining balance in consumer and other loans. The loan production for the current quarter was comprised of 61% variable rate loans, with approximately 48% of the variable rate loans tied to LIBOR. Total organic loan growth for the twelve months ended December 31, 2015 was approximately 9.0%.

  • Asset Quality: Total loans past due 30 - 89 days, excluding nonaccrual loans, were $864,000 at December 31, 2015, a decrease of $2.0 million from September 30, 2015. Nonaccrual loans were $6.6 million at December 31, 2015, or 0.36% of total loans, up from $6.4 million at September 30, 2015, or 0.35% of total loans. Other real estate owned was $1.4 million at December 31, 2015, a decrease of $1.2 million from September 30, 2015.

  • Net Interest Income and Margin: Net interest income, on a tax equivalent basis, decreased $888,000 for the three months ended December 31, 2015 as compared to the three months ended September 30, 2015. Net interest income totaled $21.8 million for the three months ended December 31, 2015. The net interest margin, on a tax equivalent basis, declined to 4.06% for the fourth quarter of 2015 as compared to 4.32% for the third quarter of 2015 but was an increase over the net interest margin of 3.78% for the quarter ended December 2014. The decrease from the third quarter of 2015 to the fourth quarter of 2015 in the margin was primarily a result of the nonaccretable discounts that were recognized during the third quarter.

  • Noninterest Expense: Noninterest expense decreased to $12.3 million for the three months ended December 31, 2015 from $12.4 million for the three months ended September 30, 2015.

  • Capital: Stonegate remained well-capitalized as of December 31, 2015 with capital of $282.6 million as compared to $274.2 million at September 30, 2015. As of December 31, 2015, Stonegate's total risk-based capital ratio was 11.8%; Stonegate's Tier 1 and Common Equity Tier 1 capital ratio were each 11.0%; and Stonegate's leverage capital ratio was 10.0%.

Loans and Deposits

Loans outstanding at December 31, 2015 were $1.86 billion as compared to $1.84 billion at September 30, 2015, an increase of $19.5 million during the fourth quarter of 2015.

The loan portfolio consists primarily of loans to individuals and small- and medium-sized businesses within Stonegate's primary market areas of South and West Florida. The table below shows the loan portfolio composition:

         
(in thousands of dollars)   December 31, 2015   September 30, 2015
             
Commercial   $ 216,163   $ 210,261
Commercial real estate - owner occupied     499,949     466,945
Commercial real estate - other     534,449     549,629
Construction and land development     201,523     204,165
Residential real estate     333,339     329,685
Consumer and other loans     86,500     91,936
  Total loans     1,871,923     1,852,621
Less: discount on loans acquired     11,648     11,959
Less: net deferred fees     2,704     2,563
Recorded investment in loans     1,857.571     1,838,099
Less: Allowance for loan losses     18,149     18,023
  Net loans   $ 1,839,422   $ 1,820,076
               

New loan originations were $123.1 million during the fourth quarter of 2015, with fundings of $90.6 million. As of December 31, 2015, outstanding commitments were approximately $392.7 million with approximately $91.2 million representing new approved loan originations and approximately $130.3 million in unfunded construction commitments.

Deposits increased to $2.02 billion at December 31, 2015 from $1.95 billion at September 30, 2015. Noninterest-bearing deposits were $394 million at December 31, 2015, an increase from $389.7 million at September 30, 2015, and represented approximately 19.5% of total deposits. NOW deposits increased $26.3 million during the fourth quarter of 2015 to $310.3 million. Money market accounts were $1.05 billion at December 31, 2015, an increase of $43.2 million from September 30, 2015. Time deposits decreased approximately $7.7 million during the fourth quarter of 2015 due to runoff of acquired deposits that were priced above the market.

The following table shows the composition of deposits as of December 31, 2015 and September 30, 2015:

         
(in thousands of dollars)   December 31, 2015   September 30, 2015
             
Noninterest bearing   $ 393,780   $ 390,225
NOW     310,259     283,910
Money market     1,048,454     1,005,228
Savings     102,793     95,863
Certificates of deposit     169,081     176,755
  Total deposits   $ 2,024,367   $ 1,951,981
             

Credit Quality and Allowance for Loan Losses

As of December 31, 2015, Stonegate's past due and nonaccrual loans totaled $7.5 million and were 0.40% of total loans as compared to $9.2 million or 0.50% of total loans at September 30, 2015. Loans past due and nonaccrual from acquired portfolios totaled $3.8 million as of December 31, 2015. Loans past due 30-89 days were $864,000 at December 31, 2015, a significant decrease from $2.8 million at September 30, 2015. The decrease in past due loans was a result of two loans for $2.6 million being transferred to nonaccrual status during the current quarter. Nonaccrual loans stood at $6.6 million at December 31, 2015, a slight increase from $6.4 million at September 30, 2015. This increase was primarily due to the addition of four loans for $2.7 million, of which $2.6 million were legacy loans, offset by the payoff of six loans for $2.4 million. Legacy nonaccrual loans were approximately $3.6 million at December 31, 2015 versus $1.0 million as of September 30, 2015. Residential loans classified as nonaccrual were $3.7 million or 55.2% of the nonaccrual loans and commercial real estate loans classified as nonaccrual were $1.8 million or 27.6% of the nonaccrual as of December 31, 2015. As of December 31, 2015, Stonegate did not have any loans past due 90 days or more that were still accruing. At December 31, 2015, there remained approximately $8.6 million in nonaccretable discounts on loans previously acquired. None of the acquired loans are subject to a loss share arrangement with the Federal Deposit Insurance Corporation.

Nonperforming assets (nonaccrual loans and other real estate owned) were $8.0 million as of December 31, 2015, a decrease of $1.0 million from September 30, 2015. Other real estate owned decreased to $1.4 million as of December 31, 2015 as compared to $2.6 million as of September 30, 2015. The decrease was the result of the sale of three properties during the quarter.

The following table outlines nonperforming assets for the periods ended:

             
(in thousands of dollars)   December 31,
 2015
    September 30,
2015
 
                 
Nonaccrual   $ 6,635     $ 6,367  
Other real estate owned     1,390       2,629  
  Total nonperforming assets   $ 8,025     $ 8,996  
                 
Nonperforming loans as a percentage of total loans     0.36 %     0.35 %
Nonperforming assets as a percentage of total assets     0.34 %     0.39 %
                 

Loans modified as a troubled debt restructuring were $9.8 million and $9.9 million at December 31, 2015 and September 30, 2015, respectively. Loans classified as a troubled debt restructuring and on nonaccrual status were unchanged from September 30, 2015 at $450,000. There were no loans modified as troubled debt restructuring during the fourth quarter of 2015. Specific reserves allocated to loans modified as troubled debt restructuring decreased to $106,000 at December 31, 2015, from $117,000 at September 30, 2015.

At December 31, 2015, the allowance for loan losses was $18.1 million, an increase of $126,000 from September 30, 2015. During the fourth quarter of 2015, recoveries totaled $126,000 and charge-offs were $300,000. Additionally, $300,000 was added to the allowance for loan losses through a provision expense. Specific reserves increased to $778,000 at December 31, 2015 from $700,000 at September 30, 2015. The allowance for loan losses represented 0.98% of total loans as of December 31, 2015 and September 30, 2015. Additionally, the allowance represented 1.35% of total legacy loans as of December 31, 2015. Only legacy loans are covered by the allowance as acquired loans are recorded at their fair value on the date of acquisition and none of these loans have experienced significant deterioration above their initial estimate.

The following table shows the activity in the allowance for loan losses for the quarters ended:

             
(in thousands of dollars)   December 31,
2015
    September 30,
2015
 
                 
Balance at beginning of period   $ 18,023     $ 17,414  
Charge-offs     (300 )     (593 )
Recoveries     126       359  
Provision for loan losses     300       843  
Balance at end of period   $ 18,149     $ 18,023  

The table below reflects the allowance allocation per loan category and percent of loans in each category to total loans for the periods indicated:

         

(in thousands of dollars)
  December 31,
2015
  September 30,
2015
    Amount   %   Amount   %
Commercial   $ 2,457   13.5   $ 2,424   13.4
Commercial real estate     11,671   64.3     11,102   61.6
Construction and land development     1,702   9.4     1,763   9.8
Residential real estate     1,954   10.8     2,361   13.1
Consumer and other loans     365   2.0     373   2.1
  Total   $ 18,149   100.0   $ 18,023   100.0
                       

The following is a summary of information pertaining to impaired loans for the three months ended:

             
(in thousands of dollars)   December 31,
2015
  September 30,
2015
  December 31,
2014
                   
Impaired loans without a valuation allowance   $ 9,437   $ 9,043   $ 7,165
Impaired loans with a valuation allowance     6,571     6,178     8,072
Total impaired loans   $ 16,008   $ 15,221   $ 15,237
                   
Valuation allowance related to impaired loans   $ 778   $ 700   $ 853
                   

Net Interest Income and Margin

On a tax equivalent basis, Stonegate's net interest income for the three months ended December 31, 2015 was $21.8 million, a decrease of approximately $888,000 from the third quarter of 2015 and an increase of $7.0 million from the fourth quarter 2014. While earning assets grew from the third quarter of 2015 to the fourth quarter of 2015, the decrease in net interest income from the third quarter of 2015 was primarily a result of the recognition of nonaccretable discounts in the third quarter. The increase from the fourth quarter of 2014 was primarily a result of the loans and other interest-earning assets acquired from Community Bank of Broward ("CBB") and organic growth. Average loans for the fourth quarter of 2015 were $1.84 billion as compared to $1.80 billion for the third quarter of 2015 and $1.28 billion for the fourth quarter of 2014.

The net interest margin on a tax equivalent basis decreased from 4.32% for the third quarter of 2015 to 4.06% for the fourth quarter of 2015. The net interest margin was 3.78% for the fourth quarter of 2014. As noted above, the net interest margin was augmented in the third quarter of 2015 by the recognition of nonaccretable discounts. Without these discounts, the net interest margin for the third quarter of 2015 would have been approximately 4.00%. The average yield on total earning assets was 4.48% for the fourth quarter of 2015 versus 4.72% for the third quarter of 2015. The average yield on paying liabilities increased 2 basis points from 0.52% from the third quarter of 2015 to 0.54% for the fourth quarter of 2015. Stonegate's cost of funds has declined from 0.49% for the December 2014 month-to-date average to 0.44% for the December 2015 month-to-date average.

The following table recaps yields and costs by various interest-earning asset and interest-bearing liability account types for the current quarter, the previous quarter and the same quarter last year.

 
Yield and cost table (unaudited)
(in thousands of dollars)
    4th Quarter 2015     3rd Quarter 2015     4th Quarter 2014  
    Average Balance   Interest   Rate     Average Balance   Interest   Rate     Average Balance   Interest   Rate  
ASSETS                                                      
Loans, Net(1)(2)(4)   $ 1,842,950   $ 23,412   5.04 %   $ 1,801,517   $ 24,182   5.33 %   $ 1,278,430   $ 16,135   5.01 %
Investment Securities     107,636     446   1.64       108,046     433   1.59       82,572     330   1.59  
Federal Funds Sold     27,717     33   0.47       26,522     24   0.36       20,000     15   0.30  
Other Investments(3)     2,895     33   4.52       2,895     33   4.52       2,422     26   4.26  
Deposits with interest at banks     147,647     115   0.31       143,267     117   0.32       169,919     127   0.30  
Total Earning Assets     2,128,845     24,039   4.48 %     2,082,247     24,789   4.72 %     1,553,343     16,633   4.25 %
                                                       
                                                       
LIABILITIES                                                      
Savings, NOW and Money Market   $ 1,439,200   $ 1,802   0.50 %   $ 1,360,792   $ 1,677   0.49 %   $ 1,023,698   $ 1,351   0.52 %
Time Deposits     173,311     239   0.55       181,453     226   0.49       169,660     256   0.60  
Total Interest Bearing Deposits     1,612,511     2,041   0.50       1,542,245     1,903   0.49       1,193,358     1,607   0.53  
Other Borrowings     63,371     223   1.40       63,095     223   1.40       55,137     213   1.53  
Total Interest Bearing Liabilities     1,675,882     2,264   0.54 %     1,605,340     2,126   0.52 %     1,248,495     1,820   0.58 %
                                                       
Net interest spread (tax equivalent basis) (4)               3.94 %               4.20 %               3.67 %
Net interest margin (tax equivalent basis) (5)               4.06 %               4.32 %               3.78 %
     
(1)   Average balances include nonaccrual loans, and are net of unearned loan fees of $2,589, $2,548 and $1,859 for 4th Quarter 2015, 3rd Quarter 2015 and 4th Quarter 2014, respectively.
(2)   Interest income includes fees on loans of $66, $49 and $27 for 4th Quarter 2015, 3rd Quarter 2015 and 4th Quarter 2014, respectively.
(3)   "Other investments" consists of equity stock in the Federal Home Loan Bank of Atlanta ("FHLB") that Stonegate is required to own based on its transactions with the FHLB.
(4)   Interest income and rates include the effects of a tax equivalent adjustment using applicable statutory tax rates to adjust tax exempt interest income on tax exempt loans to a fully taxable basis.
(5)   Represents net interest income divided by total interest-earning assets.
     

Noninterest Income

Noninterest income of $2.5 million for the fourth quarter of 2015 increased from $1.7 million for the quarter ended September 30, 2015. The increase was primarily attributable to recognition of a non-recurring gain of $595,000 on the sale of an option contained in a land lease and an increase of $263,000 in customer swap fees during the quarter.

Noninterest Expense

Noninterest expense for the three months ended December 31, 2015 decreased from $12.4 million at September 30, 2015 to $12.3 million and was greater than the $9.2 million for the three months ended December 31, 2014.

Salaries and employee benefits decreased slightly to $6.7 million for the fourth quarter versus $6.8 million for the third quarter of 2015. This compares with $5.1 million for the three months ended December 31, 2014. The increase over the fourth quarter of 2014 was primarily attributable to the increase in staff as a result of the CBB acquisition.

Occupancy and equipment expenses were unchanged at $2.2 million for the three months ended December 31, 2015 and September 30, 2015. Occupancy and equipment expenses were $1.4 million for the three months December 31, 2014. The increase compared to the quarter ended December 31, 2014 was due to the additional facilities acquired from CBB.

Data processing expense decreased slightly from $445,000 for the third quarter of 2015 to $431,000 for the quarter ended December 31, 2015. Professional fees increased for the three months ended December 31, 2015 to $773,000. This compared to professional fees of $546,000 for the three months ended September 30, 2015 and $682,000 for the three months ended December 31, 2014. More than half of the increase in professional fees from the third quarter of 2015 to the fourth quarter of 2015 was the result of attorney fees related to forward looking projects the bank has been and is exploring. However, during the fourth quarter of 2014, Stonegate incurred approximately $125,000 in legal and other professional fees related to the CBB acquisition.

The table below outlines the expenses for the quarters ended:

             
    December 31, 2015   September 30, 2015   December 31, 2014
(in thousands of dollars)                  
                   
Salaries and employee benefits   $ 6,695   $ 6,804   $ 5,083
Occupancy and equipment expense     2,184     2,186     1,447
FDIC insurance and state assessments     382     381     326
Data processing     431     445     322
Loan and other real estate expense     95     200     86
Professional fees     773     546     682
Core deposit intangible amortization     449     449     326
Other operating expenses     1,331     1,418     883
Totals   $ 12,340   $ 12,429   $ 9,155
                   

About Stonegate Bank

Stonegate Bank is a full-service commercial bank, providing a wide range of business and consumer financial products and services through its 21 banking offices in its target marketplaces of South and West Florida, which are comprised primarily of Broward, Charlotte, Collier, Hillsborough, Lee, Miami-Dade, Palm Beach and Sarasota Counties in Florida. Stonegate's principal executive office and mailing address is 400 North Federal Highway, Pompano Beach, Florida 33062 and its telephone number is (954) 315-5500.

In conjunction with this earnings report, the Company will offer a live participatory conference call to discuss the financial results for the fourth quarter of 2015. This telephone conference call will be held on Friday, January 29, 2016, beginning at 2:30 p.m. Eastern Time. The call-in toll-free telephone number is 1-866-820-3585. The Conference ID# is 25912111. Participants will be asked for their First Name, Last Name and Company Name. An audio replay of the conference call will be available until February 13, 2016, and may be accessed telephonically at 1-855-859-2056 using Conference ID# 25912111.

Forward-Looking Statements

Any non-historical statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The following factors, among others, could cause our actual results to differ: the strength of the United States economy in general and the strength of the local economies in which we conduct operations; our need and ability to incur additional debt or equity financing; our ability to execute our growth strategy through expansion; our ability to comply with the extensive laws and regulations to which we are subject; changes in the securities and capital markets; changes in general market interest rates; legislative and regulatory changes; monetary and fiscal policies of the U.S. Treasury and the Federal Reserve; changes in the quality or composition of our loan portfolios; demand for loan products; changes in deposit flows, real estate values, and competition and other economic, competitive, and technological factors affecting our operations, pricing, products and services; and our ability to manage the risks involved in the foregoing. Additional factors can be found in our 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 Stonegate Bank assumes no obligation to update any forward-looking statements or the reasons why actual results could differ.

   
Stonegate Bank and Subsidiaries  
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)  
(in thousands of dollars, except per share data)  
   
    December 31, 2015     December 31, 2014  
Assets                
Cash and due from banks   $ 257,934     $ 231,406  
Federal funds sold     30,000       20,000  
Securities held to maturity (Fair value of $107,659 at December 31, 2015 and $83,318 at December 31, 2014)     106,619       81,627  
Other investments     2,895       2,422  
Loans, net of allowance for loan losses of $18,023 at September 30, 2015 and $16,630 at December 31, 2014     1,839,421       1,292,692  
Premises and equipment, net     25,769       25,620  
Bank-owned life insurance     29,776       22,832  
Other real estate owned     1,390       259  
Other assets     86,634       46,436  
    Total assets   $ 2,380,438     $ 1,723,294  
                 
Liabilities and Stockholders' Equity                
Liabilities                
  Total deposits   $ 2,024,367     $ 1,452,194  
  Other borrowings     58,638       56,297  
  Other liabilities     14,869       13,688  
    Total liabilities     2,097,874       1,522,179  
                 
Stockholders' Equity                
  Senior non-cumulative perpetual preferred stock, Series A, $1,000 liquidation value; 12,750 shares authorized; no shares issued and outstanding as of June 30, 2015; 12,750 issued and outstanding as of December 31, 2014     -       12,750  
  Common stock, $5 par value, 20,000,000 shares authorized; 12,643,752 issued and 12,641,094 shares outstanding as of June 30, 2015 and 10,257,163 shares issued and 10,254,505 outstanding as of December 31, 2014     63,762       51,286  
  Additional paid-in capital     146,994       88,180  
  Retained earnings     73,205       50,641  
  Treasury Stock     (13 )     (13 )
  Accumulated other comprehensive income (loss)     (1,384 )     (1,729 )
    Total stockholders' equity     282,564       201,115  
    Total liabilities and stockholders' equity   $ 2,380,438     $ 1,723,294  
                     
                     
                     
Stonegate Bank and Subsidiaries  
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (unaudited)  
(in thousands of dollars, except per share data)  
       
    For the three months ended  
    December 31,
2015
  September 30,
2015
  December 31,
2014
 
Interest income:                    
  Interest and fees on loans   $ 23,079   $ 23,894   $ 15,929  
  Interest on securities     446     434     330  
  Interest on federal funds sold and at other banks     148     140     142  
  Other interest     33     33     26  
    Total interest income     23,706     24,501     16,427  
                     
Interest expense:                    
  Interest on deposits     2.041     1,903     1,608  
  Other interest     223     223     213  
    Total interest expense     2,264     2,126     1,821  
    Net interest income     21,442     22,375     14,606  
  Provision for loan losses     300     843     (1,575 )
    Net interest income after provision for loan losses     21,142     21,532     16,181  
                     
Noninterest income:                    
  Service charges and fees on deposit accounts     772     753     418  
  Other noninterest income     1,740     936     768  
  Total noninterest income     2,512     1,689     1,186  
Noninterest expense:                    
  Salaries and employee benefits     6,695     6,804     5,083  
  Occupancy and equipment expenses     2,184     2,186     1,447  
  Data processing     431     445     322  
  Professional fees     773     546     682  
  Core deposit intangible amortization     449     449     326  
  Other operating expenses     1,808     1,999     1,295  
    Total noninterest expense     12,340     12,429     9,155  
    Income before income taxes     11,314     10,792     8,212  
    Income tax     4,050     3,955     2,983  
    Net income     7,264     6,837     5,229  
    Preferred stock dividend     -     -     32  
      Net income applicable to common stock   $ 7,264   $ 6,837   $ 5,197  
Earnings per common share:                    
Basic   $ 0.57   $ 0.54   $ 0.51  
Diluted     0.56     0.53     0.49  
Common shares used in the calculation of earnings per share:                    
Basic     12,704,558     12,650,042     10,231,070  
Diluted     13,037,123     13,006,584     10,603,369  
                     
                     
                     
Stonegate Bank and Subsidiaries  
CONDENSED FINANCIAL HIGHLIGHTS  
(in thousands of dollars)  
   
    As of  
    September 30,
 2015
    September 30,
 2015
    December 31,
 2014
 
BALANCE SHEET ITEMS:                        
Assets   $ 2,380,438     $ 2,312,127     $ 1,723,294  
Loans, net     1,839,422       1,820,076       1,292,692  
Deposits     2.024.367       1,951,981       1,452,194  
Stockholders' equity     282,564       274,153       201,115  
                         
CAPITAL RATIOS:                        
Total capital to risk weighted assets     11.8 %     11.5 %     14.2 %
Tier 1 capital to risk weighted assets     11.0       10.7       13.0  
Common Equity Tier 1 to risk weighted assets     11.0       10.7       N/A  
Tier 1 capital to average assets     10.0       10.0       11.0  
                         
QUARTERLY AVERAGE                        
BALANCE SHEET ITEMS:                        
Assets   $ 2,375,948     $ 2,294,617     $ 1,706,017  
Interest earning assets     2,128,845       2,082,247       1,555,343  
Loans, net     1,825,012       1,801,517       1,278,430  
Interest bearing liabilities     1,674,333       1,605,340       1,248,495  
Deposits     2,015,859       1,945,906       1,438,572  
Stockholders' equity     279,466       272,508       198,532  
                         
                         
                         
Stonegate Bank and Subsidiaries
CONDENSED FINANCIAL HIGHLIGHTS
(in thousands of dollars, except per share data)
     
    Three Months Ended
    December 31,
2015
  September 30,
2015
  December 31,
2014
FINANCIAL DATA:                  
Net interest income   $ 21,442   $ 22,375   $ 14,606
Net interest income - tax equivalent     21,775     22,663     14,812
Noninterest income     2,512     1,689     1,186
Noninterest expense     12,340     12,429     9,155
Income tax     4,050     3,955     2,983
Net income     7,264     6,837     5,229
Preferred stock dividend     -     -     32
Net income attributed to common shares     7,294     6,837     5,197
Weighted average number of common shares outstanding:                  
Basic     12,704,558     12,650,042     10,231,070
Diluted     13,037,123     13,006,584     10,603,369
Per common share data:                  
Basic   $ 0.57   $ 0.54   $ 0.51
Diluted     0.56     0.53     0.49
Cash dividend declared to common shares     1,020     506     408
                   

Contact Information

  • INVESTOR RELATIONS:
    Dave Seleski
    (Email Contact)
    Stonegate Bank
    (954) 315-5510