Fla. Bank Stonegate Eyes Nasdaq Listing After $49M Merger

Law360, Miami (September 5, 2013, 5:59 PM EDT) -- Florida's Stonegate Bank will acquire Florida Shores Bancorp in a deal valued at nearly $49 million, it announced Thursday, saying it plans to apply to be listed on Nasdaq in the first half of next year.

Stonegate expects to close on the deal, which will give it full ownership of Florida Shores Bancorp's two subsidiary banks Florida Shores Bank – Southeast and Florida Shores Bank – Southwest, in the fourth quarter 2013. The addition of those banks' combined $555.1 million in assets are anticipated to increase...
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