Stonegate Bank

sgbk

Ticker: SGBK

Purchased: 31 Oct 2016

Cost basis: $34.17

Current Portfolio Status: Hold

Dividend Reinvestment: N

Dividends paid quarterly in Jan, Apr, Jul, Oct

Shares held on account at Motif

Stonegate Bank, together with its subsidiaries, provides a range of banking services to individual and corporate customers in Tampa, and Southeast and Southwest Florida. The company‘s deposit products include interest-bearing checking accounts, money market accounts, and term certificates with money market accounts. Its loan portfolio consists of commercial loan products, such as commercial real estate construction and term loans; working capital loans and lines of credit; demand, term, and time loans; and equipment, inventory, and accounts receivable financing, as well as consumer loan products, including home equity lines of credit, second mortgages, new and used auto loans, new and used boat loans, and personal credit lines. The company also provides mortgage banking services consisting of conventional and nonconforming mortgage underwriting, and construction and permanent financing. In addition, it offers cash management services; and debit cards, and Internet banking and electronic bill payment services. The company operates a network of 21 branches. Stonegate Bank was founded in 2005 and is headquartered in Pompano Beach, Florida.

Reason For Holding: Only bank authorized (currently) to do business in Cuba.  Has US State Department as client and is a correspondent bank with Cuba’s central bank.

30 November 2016

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