The Loan Committee™

DAVID SELESKI, President and CEO with Stonegate Bank was the keynote speaker at The Loan Committee breakfast held at the Tower Club on September 21, 2012.  Mr. Seleski gave an informative presentation on recent trends in commercial banking and regulatory updates.  Attendees included south Florida lenders and commercial real estate professionals.

MEMBER NEWS

Clobus Real Estate Brokerage & Valuation, Inc., is a full service commercial real estate appraisal firm with 40 years experience in South Florida.  Contact ROBERT D. CLOBUS directly at 954-689-8822.

MEMBERS ON THE MOVE

PHILIP CARROLL joined Grandbridge July 2nd to open an office in Miami to serve southeast Florida. Grandbridge is a Fannie Mae DUS lender, a Freddie Mac and FHA Lender, as well as a correspondent lender for more than ten life companies. They also have a proprietary loan program offering non-recourse bridge loans up to $40 million. Call Phil directly for info 305-523-1812.

Second Quarter 2012 Highlights:

•  Net income of $2,250,000 for the second quarter of 2012
• Total assets grew to $906 million from $839 million year over year
• 26 straight quarters of profitability
• 4.02% June net interest margin
• Tier 1 risk based capital ratio of 16.38%
• Total organic loan growth was 12% year to date

FORT LAUDERDALE, Fla.  (July 18, 2012) – Stonegate Bank (OTCBB: SGBK) reported net income of $2,250,000 or 27.3 cents per share in the second quarter of 2012, as compared to net income of $5,736,000 or 69.9 cents per share in the second quarter of 2011. The Bank earned $4,491,000 or 54.5 cents per share for the first six months of 2012, as compared to $7,183,000 or 87.1 cents per share in the first six months of 2011.

Income and Expenses:

Total interest income increased from $9.3 million in the second quarter of 2011 to $10.1 million in the second quarter of 2012. This $800,000 increase is largely due to an increase of $101 million in total loans period to period. Total interest expense decreased minimally to $1.87 million for the second quarter. This occurred even though total deposits increased $53 million period to period. This resulted in net interest income improving from $7.3 million in the second quarter of 2011 to $8.2 million in the second quarter of 2012….read the complete earnings release