Stonegate Bank announced on Friday the completion of its merger with Community Bank of Broward. The consolidated bank will report approximately $2.2 billion in total assets.
“This acquisition is transformational for Stonegate as the combined bank will form the largest community bank in terms of deposits in the second largest Metropolitan Statistical Area in the third most populated state in our nation,” said Dave Seleski, president and CEO of Stonegate.
Stonegate Bank, based in Pompano Beach, has $1.67 billion in assets as of Sept. 30, 2014, and has 22 banking offices in South and West Florida.
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