FORT LAUDERDALE, FL--(Marketwire - Oct 26, 2012) - The Board of Directors of Stonegate Bank (OTCBB: SGBK) today declared a cash dividend of $0.04 per common share, payable on November 26, 2012. This dividend is payable to shareholders of record at the close of business on November 9, 2012. Based on 8,239,334 common shares currently outstanding, the November 26, 2012 dividend represents a payout of approximately $329,573.
Stonegate Bank is a state-chartered commercial bank with $942 million in assets as of September 30, 2012, with offices in Fort Lauderdale, Boca Raton, Coral Springs, Jupiter, Naples, Coral Gables, Fort Myers and Tampa.
The Bank cautions that certain statements contained in this press release are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995, which statements are made pursuant to the "safe harbor" provisions of such Act. These forward-looking statements describe future plans or strategies and may include the Bank's expectations of future financial results. The words "believe," "expect," "anticipate," "estimate," "project," and similar expressions identify forward-looking statements. The Bank's ability to predict results or the effect of future plans or strategies or qualitative or quantitative changes is inherently uncertain. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, changes in general market interest rates, changes in general economic conditions and those specific to the Bank's market area, legislative/regulatory changes, monetary and fiscal policies of the U.S. Treasury and the Federal Reserve, changes in the quality or composition of the Bank's loan portfolios, demand for loan products, changes in deposit flows, real estate values, and competition and other economic, competitive, governmental, regulatory and technological factors affecting the Bank's operations, pricing, products and services. The Bank makes periodic filings to the Federal Deposit Insurance Corporation which contain various Bank financial information, copies of which are available from the Bank without charge. The Bank disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained in this release to reflect future events or developments.