Stonegate Bank Declares Dividend
April 27 2012 - 2:55PM
Marketwired
The Board of Directors of Stonegate Bank (OTCBB: SGBK) today
declared a cash dividend of $0.08 per common share for 2012,
payable semi-annually on May 25, 2012 and November 26, 2012. Each
dividend payment will be $0.04 per common share. The May 25, 2012
dividend is payable to shareholders of record at the close of
business on May 10, 2012. Based on 8,240,392 common shares
currently outstanding, the May 25, 2012 dividend represents a
payout of approximately $329,615.
"The initiation of a semi-annual dividend reflects the continued
strong financial performance of the Bank, the commitment to enhance
shareholder return and confidence in Stonegate Bank's long-term
growth prospects," said Dave Seleski, President and Chief Executive
Officer.
Stonegate Bank is a state-chartered commercial bank with $899
million in assets as of March 31, 2012, with offices in Fort
Lauderdale, Boca Raton, Coral Springs, Jupiter, Naples, Coral
Gables, Fort Myers and Tampa. The "Private Bank for Business,"
which focuses on commercial and personal banking and wealth
management, has made a successful mark on the commercial and
private banking industry since opening its doors in March 2005. The
Bank was recently ranked by Financial Management Consulting Group
as Florida's Top Performing Bank, and has reported 25 straight
quarters of profitability with Tier 1 Capital of 16.8 % as of March
31, 2012.
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.
MEDIA CONTACT: Ansley Campbell (Email Contact) Sissy
DeMaria (Email Contact) Kreps DeMaria (305) 663-3543 INVESTOR
RELATIONS: Dave Seleski (Email Contact) Stonegate Bank
(954) 315-5510
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