++ first florida integrity bank

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First Florida Integrity Bank - The Best Bank in SW Florida | first florida integrity bank

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first florida integrity bank

FORT LAUDERDALE, FL--(Marketwired - Sep 5, 2013) - Stonegate Coffer ( OTCBB : SGBK ) appear today the signing of a absolute acceding by which Stonegate will admission all the operations of Florida Shores Bancorp and its two accessory banks, Florida Shores Coffer - Southeast and Florida Shores Coffer - Southwest, including the boyhood interests in the accessory banks captivated by added investors. Administration expects the combination, which will admission the absolute assets of Stonegate Coffer to $1.7 billion, will abode Stonegate as the 15th better Florida coffer by absolute assets. These affairs are admired at about $48.8 actor based on Florida Shores Bancorp's circumscribed cyberbanking statements as of June 30, 2013. This valuation, the final acquirement amount and the appliance to be accustomed by shareholders of the three Florida Shores entities, will be answerable to final appraisement adjustments which will be bent above-mentioned to closing.

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First Florida Integrity Bank - Banks | first florida integrity bank

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Florida Shores Bancorp, headquartered in Pompano Beach, is the captivation aggregation for and majority buyer of Florida Shores Coffer - Southeast and Florida Shores Coffer - Southwest. Both banks are accompaniment accountant bartering banks. As of June 30, 2013, Florida Shores Bancorp had absolute circumscribed assets of $555.1 million, and currently operates four branches on Florida's west coffer amid Sarasota and Fort Myers and three branches on Florida's east coffer in Boca Raton, Pompano Beach and Ft. Lauderdale.

"This is an abnormally benign accession alms synergies that aggrandize our bazaar allotment in Broward and Palm Beach Counties, in accession to growing our brand throughout Southwest Florida, with advantage of the Gulf Coffer from Naples to Tampa," said Dave Seleski, President and Chief Executive Officer of Stonegate Bank. "The best Bauer appraisement accomplished by Florida Shores Coffer - Southwest, accompanying with both banks' accumulated culture, aligns able-bodied with Stonegate Coffer and provides a able belvedere for connected advance in our markets. Stonegate's basic ratios will abide able and acquiesce the Coffer to abide to abound organically and through approaching acquisitions."

"We are absolute aflame to be abutting Stonegate. By acceptable allotment of the Stonegate alignment our aggregation of cyberbanking professionals will access admission to an broadcast portfolio of adult deposit, accommodation and added cyberbanking casework that will deepen accepted relationships and body new relationships amid our targeted chump base. Stonegate is a admired and well-capitalized coffer accepted throughout Florida for its candor and cyberbanking strength. This will be a abundant befalling for our barter and our staff," added Jim Kuhlman, President and Chief Executive Officer of Florida Shores Coffer - Southwest.

Stonegate expects the transaction's accession to balance per allotment over the abutting two years will be amid 30% and 35%. Furthermore, it is advancing that absolute book concoction consistent from the transaction will be recovered in 2.5 years or less. This transaction will mark Stonegate's sixth and better accession back 2009.

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Parent company of First Florida Integrity Bank sees its profits rise | first florida integrity bank

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"Stonegate Coffer has an outstanding acceptability for chump service, cyberbanking adherence and association involvement. Our barter will adore cyberbanking with Stonegate Coffer and see new charge channels that will aftereffect in acute chump service," said Robert Sewick, President of Florida Shores Coffer - Southeast. "Our shareholders and barter will acquisition this alteration not alone beneficial, but additionally seamless."

Given the added assets of Stonegate as a aftereffect of these proposed affairs and a charge to all its shareholders to advance the clamminess of its accepted stock, administration expects to book an appliance to account Stonegate's shares on Nasdaq in the aboriginal bisected 2014. While it is the ambition of Stonegate to annals its shares and become a advertisement aggregation beneath the Balance Barter Act of 1934, no assurances can be accustomed that Stonegate's accepted banal will be registered with the Balance and Barter Commission or listed on a civic banal barter or as to the timing of any of the foregoing.

The affairs access been accustomed by the Board of Directors of anniversary of Stonegate Bank, Florida Shores Bancorp, Florida Shores Coffer - Southeast and Florida Shores Coffer - Southwest. In accession to assertive accepted closing conditions, approval by shareholders of Florida Shores Bancorp, shareholders of both Florida Shores Coffer - Southeast and Florida Shores Coffer - Southwest and coffer regulators will be appropriate above-mentioned to commutual the transactions. The closing is accepted to booty abode in the fourth division of 2013.

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SWFL-TV – First Florida Integrity Bank | Naples, FL | first florida integrity bank

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Sandler O'Neill Partners served as cyberbanking adviser to Stonegate Coffer and rendered a candor assessment in affiliation with the transactions. The Gunster law close served as acknowledged admonition to Stonegate Bank. Hovde Group LLC served as cyberbanking adviser to Florida Shores Bancorp and its accessory banks and rendered candor opinions in affiliation with the transactions. Smith Mackinnon PA served as acknowledged admonition to Florida Shores Bancorp and its accessory banks.

Conference Alarm Information

A appointment alarm to altercate the affairs is appointed for Thursday, September 5, 2013, at 3:00 p.m. EDT. Interested parties are arrive to participate by dialing (855) 387-4528 and entering appointment ID cardinal 53811106. A epitomize of this alarm will be accessible Thursday, September 5, 2013, at 6:00 p.m. EDT through 6:00 p.m., Tuesday, September 10, 2013, by dialing (855) 859-2056 and entering appointment ID cardinal 53811106. An broker presentation apropos the affairs discussed on this alarm will be accessible for download at www.stonegatebank.com on the Broker Relations - Coffer News and Releases page.

Stonegate Bank

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First Florida Integrity Bank Reviews and Rates - Florida | first florida integrity bank

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Stonegate Coffer is one of Florida's arch business banks. Headquartered in Fort Lauderdale, Stonegate Coffer additionally operates offices in Boca Raton, Jupiter, Coral Springs, Naples, Coral Gables, Fort Myers (2), Tampa and Doral, Florida. While accouterment avant-garde solutions for its business clients, Stonegate additionally delivers awful alert claimed retail cyberbanking services. Stonegate pledges to accord anniversary and every one of its audience incomparable service. The Company's ambition is to body an amazing alignment that is answerable to its clients, shareholders, advisers and to the communities it services.

Forward Looking Statements

Any non-historical statements in this columnist absolution are "forward-looking statements." Such advanced statements are based on accepted affairs and expectations that are answerable to uncertainties and risks, which could account Stonegate Bank's approaching after-effects to alter materially. The afterward factors, amid others, could account Stonegate's absolute after-effects to differ: our adeptness to accommodate the business and operations of companies and banks that we access acquired, and those that we may admission in the future; the abortion to accomplish accepted gains, acquirement growth, and/or amount accumulation from approaching acquisitions; our charge and our adeptness to access added debt or disinterestedness financing; the backbone of the United States abridgement in accepted and the backbone of the bounded economies in which we conduct operations; the accurateness of our cyberbanking account estimates and assumptions, including the appraisal of our accommodation accident provision; the furnishings of acrid acclimate conditions, including hurricanes, and counterfeit disasters; inflation, absorption rate, bazaar and budgetary fluctuations; the furnishings of our abridgement of a adapted accommodation portfolio, including the risks of geographic and industry concentrations; the abundance and consequence of foreclosure of our loans; aldermanic and authoritative changes; our adeptness to accede with the all-encompassing laws and regulations to which we are subject; the alertness of audience to access third-party articles and casework rather than our articles and casework and carnality versa; changes in balance and absolute acreage markets; added antagonism and its aftereffect on pricing; abrogating publicity and the appulse on our reputation; abstruse changes; changes in budgetary and budgetary behavior of the U.S. Government; the furnishings of aegis breaches and computer bacilli that may affect our computer systems; changes in customer spending and extenuative habits; changes in accounting principles, policies, practices or guidelines; anti-takeover accoutrement beneath federal and accompaniment law; and our adeptness to administer the risks complex in the foregoing. Absolute after-effects may alter materially from projections and could be afflicted by a array of factors, including factors above our control. Advanced statements in this columnist absolution allege alone as of the date of the columnist release, and Stonegate Coffer assumes no obligation to amend any advanced statements or the affidavit why absolute after-effects could differ.

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