SOURCE: Stonegate Bank

Stonegate Bank

June 14, 2016 17:30 ET

Stonegate Becomes First Bank to Issue MasterCard Credit Cards for Use in Cuba

POMPANO BEACH, FL--(Marketwired - Jun 14, 2016) - Stonegate Bank (NASDAQ: SGBK) announced today the issuance of MasterCard credit cards for use in Cuba. Stonegate is the first bank in the United States to take this important step.

To celebrate this milestone event the Bank is offering a limited commemorative edition credit card. The artwork for this card, as shown above, was produced by celebrated Cuban artist Michel Mirabal. Mr. Mirabal's artwork, more than any other Cuban artist, symbolizes the historical shift in relations between the two countries. Only 1,000 of these cards will be produced. For more information on this limited edition or any of the other credit card products, you may visit our website at www.stonegatebank.com.

"This has been a work in process over the last nine months. Hopefully, more U.S. Banks will allow their customers to use their cards in Cuba, thus helping to alleviate the burden on travelers to the island. In addition to personal credit cards we will also be issuing corporate, purchasing, payroll and prepaid cards within the next 30 days. I am very excited to introduce these products which I believe will benefit our corporate clients and provide a meaningful diversified income stream to the Bank," said Dave Seleski, President and CEO.

For more information on Michel Mirabal visit his Official Fan Page on Facebook.

Disclosures

All credit card products are subject to credit approval. Limited commemorative edition credit cards are available while supplies last. All credit and debit cards must be enabled to work in Cuba. Please contact a Stonegate Bank representative for additional details.

Equal Housing Lender - Member FDIC

About Stonegate

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 marketplace of South and West Florida. As of March 31, 2016, Stonegate Bank had $2.45 billion in assets and $2.09 billion in deposits. Stonegate 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

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.

Contact Information

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