Pompano Beach-based Stonegate Bank will acquire the holding company for the five-branch Regent Bank to create a community bank with $2.7 billion in assets.
April 26, 2016 at 11:00 AM
1 minute read
Stonegate Bank is increasing its footprint in Broward and Palm Beach counties with an agreement announced Tuesday to buy the parent of five-branch Regent Bank for $40 million.
The Pompano Beach-based buyer signed a definitive agreement with Regent Bancorp Inc., the bank holding company, to close later this year. The deal is valued at $9.02 per RBI share, according to a news release.
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