Stonegate Bank releases second-quarter earnings results

Stonegate Bank released its second-quarter earnings results on Tuesday, reporting a net income of $6 million, or 46 cents per share.

That’s up from a net income of about $5 million in the first quarter of 2015, and $1.9 million in the second quarter of 2014.

Total loans grew $47.8 million to $1.78 billion during the quarter, with commercial and industrial loans and commercial real-estate loans each accounting for 28 percent of the growth, the bank said.

Stonegate, based in Pompano Beach, has $2.3 billion in assets and 21 branches in South and West Florida. In May, Stonegate agreed to handle banking services for the government of Cuba after President Obama reopened relations with the island nation.

This story was originally published July 21, 2015 at 1:40 PM with the headline "Stonegate Bank releases second-quarter earnings results."