Stonegate Bank in Fort Lauderdale, Fla., has completed its acquisition of Southwest Capital Bank of Fort Myers, Fla.
Stonegate said in a press release Friday that it paid $9.4 million in stock for the $120 million-asset Southwest Capital in Fort Myers, Fla.
Stonegate now has more than $750 million in assets and nine branches. This is Stonegate's first traditional bank acquisition; it bought three failed banks in 2009.
Looking back at the year, this is how they impacted the financial services industry.
Banks such as TD, Wells Fargo and Bank of America drew attention this year for money-laundering issues. That's one of several top regulatory news items in 2024.
The Federal Reserve is poised to make several key decisions during the year ahead that will impact monetary policy both in the near term and for years to come.
From embedded finance to artificial intelligence to real-time processing, there are plenty of sources of competition and opportunity in the new year.
The integration of J.P. Morgan's Fusion platform with FactSet aims to give buy-side clients the same level of analytics available to the sell side.
The Treasury Department extended deadlines for businesses to file beneficial ownership information after a court lifted a nationwide injunction on the reporting requirements.
