Stonegate Bank (merged into Centennial Bank)
Stonegate Bank reported total assets of $3.1 bn at Q2 2017, its last Call Report before it merged into Centennial Bank. The CET1 capital ratio at Stonegate Bank was 11.53%, and the uninsured share of Stonegate Bank was 36.73%. Source: FDIC Call Reports.
Key takeaways
- Since , Stonegate Bank has taken over 2 institutions; the latest was Insignia Bank on (FDIC Call Reports).
What sets Stonegate Bank apart
How large is Stonegate Bank?
The balance sheet of Stonegate Bank at : assets $3.1 bn, deposits $2.6 bn, net loans $2.4 bn (loans equal to 93.03% of deposits). Securities make up 3.5% of total assets at Stonegate Bank. Since , when Stonegate Bank held $2.5 bn, its assets grew 27.6%. In the year to , deposits at Stonegate Bank rose 28.9% while its total assets rose 30.3%. At , Stonegate Bank employed 314 full-time equivalent staff across 31 offices, about $10.0 mn of assets per employee and $84.6 mn of deposits per office.
How much funding at Stonegate Bank is uninsured?
At Stonegate Bank, uninsured deposits (above the FDIC limit) made up 36.73% of domestic deposits at (-10.11 pp on a year earlier). In dollars, Stonegate Bank estimated $963.4 mn of uninsured deposits.
Key facts, Q2 2017
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.6 bn | $2.0 bn (Q2 2016) | |
| Net loans and leases | $2.4 bn | $1.9 bn (Q2 2016) | |
| Loan-to-deposit ratio | 93.03% | 95.60% (Q2 2016) | |
| Tier 1 leverage ratio | 10.68% | 10.37% (Q2 2016) | |
| Total risk-based capital ratio | 12.53% | 11.96% (Q2 2016) | |
| Net interest margin | 3.81% | 3.88% (Q2 2016) | |
| Return on assets (ROA) | 1.06% | 1.11% (Q2 2016) | |
| Efficiency ratio | 52.69% | 52.98% (Q2 2016) | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $329,000 | Fell by $2.7 mn | |
| Noncurrent loans to total loans | 0.46% | 0.22% (Q2 2016) | |
| Net charge-offs to average loans | 0.02% | -0.03% (Q2 2016) |
US rank of Stonegate Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Stonegate Bank: assets, deposits and loans
- Total assets $3.1bn
- Deposits $2.6bn
- Net loans $2.4bn
Capital and securities
The CET1 ratio of Stonegate Bank stood at 11.53% in , +0.40 pp year on year. Low and high at Stonegate Bank since : 10.63% () to 11.53% (). Equity capital of Stonegate Bank at : $417.8 mn, or 13.3% of total assets. Stonegate Bank also reported a total capital ratio of 12.53% for , and a tier 1 leverage ratio of 10.68%.
On held-to-maturity securities, Stonegate Bank carried an unrealized gain of $329,000 at , equal to 0.1% of equity capital. The gain fell by $2.7 mn over the year. Its deepest point: $113,000 in .
Stonegate Bank: capital ratios
- Total capital 13%
- CET1 12%
- Tier 1 leverage 11%
Stonegate Bank: unrealized securities gains and losses
- Available for sale $0
- Held to maturity $329,000
Profitability and loan quality
For the year to , Stonegate Bank earned a return on equity of 8.28%; return on assets: 1.06%. Net interest margin at Stonegate Bank: 3.81%, -0.07 pp in a year. Stonegate Bank net income: $16.3 mn, up 21.9% year on year. The efficiency ratio of Stonegate Bank was 52.69%: about 53 cents cost per revenue dollar, against 63 cents at the median peer.
At , noncurrent loans were 0.46% of total loans at Stonegate Bank; net charge-offs: 0.02% of average loans. Gross loans and leases at Stonegate Bank: $2.5 bn at , against $2.0 bn at .
Stonegate Bank: profitability
- Return on equity 8.3%
- Net interest margin 3.8%
- Return on assets 1.1%
Peer group of Stonegate Bank
The peer group of Stonegate Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 4 share the charter type of Stonegate Bank (state nonmember bank) and 0 have head offices in Florida. Against them, Stonegate Bank shows CET1 ratio 11.53% against a peer median of 14.36%, return on equity 8.28% against a peer median of 9.23% and uninsured deposit share 36.73% against a peer median of 35.97%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Happy State Bank | State nonmember bank | TX | $3.2 bn | 14.31% | 7.46% | 44.08% | |
| Merrick Bank | State nonmember bank | UT | $3.1 bn | 20.87% | 14.46% | 3.17% | |
| The Cape Cod Five Cents Savings Bank | State member bank | MA | $3.1 bn | 14.40% | 7.97% | 28.06% | |
| Stonegate Bank | State nonmember bank | FL | $3.1 bn | 11.53% | 8.28% | 36.73% | |
| Stock Yards Bank & Trust Company | State nonmember bank | KY | $3.1 bn | 12.08% | 13.78% | 38.48% | |
| Burke & Herbert Bank & Trust Company | State member bank | VA | $3.1 bn | 14.98% | 9.32% | 40.77% | |
| Mercantile Bank | State nonmember bank | MI | $3.1 bn | 11.99% | 9.15% | 33.45% | |
. FDIC Call Reports.
Last eight quarters
Two years at Stonegate Bank, to : assets $2.5 bn to $3.1 bn, deposits $2.1 bn to $2.6 bn, equity $289.5 mn to $417.8 mn. Staff 262 to 314; offices 28 to 31.
| Metric | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | Q1 2017 | Q2 2017 |
|---|---|---|---|---|---|---|
| Total assets | $2.5 bn | $2.4 bn | $2.9 bn | $2.9 bn | $3.2 bn | $3.1 bn |
| Total deposits | $2.1 bn | $2.0 bn | $2.5 bn | $2.4 bn | $2.7 bn | $2.6 bn |
| Bank equity capital | $289.5 mn | $297.0 mn | $346.1 mn | $355.1 mn | $410.1 mn | $417.8 mn |
| CET1 ratio | 11.29% | 11.13% | 10.63% | 10.96% | 11.27% | 11.53% |
| Return on equity (ROE) | 9.36% | 9.24% | 8.75% | 9.21% | 8.36% | 8.28% |
| Uninsured share of domestic deposits | 49.10% | 46.83% | 43.75% | 38.07% | 46.12% | 36.73% |
| Full-time equivalent employees | 262 | 262 | 314 | 311 | 333 | 314 |
| Number of offices | 28 | 28 | 32 | 29 | 31 | 31 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Stonegate Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed Regent Bank (FDIC certificate 26713).
- . Absorbed Insignia Bank (FDIC certificate 58387).
- . Merged into Centennial Bank (FDIC certificate 11241).
Questions and identifiers
What were the total assets of Stonegate Bank?
Stonegate Bank reported $3.1 bn at in its Call Report.
Is Stonegate Bank profitable?
Stonegate Bank reported net income of $16.3 mn for the year to ; annualized return on equity: 8.28%. So yes: Stonegate Bank made a profit over these months.
When is data for Stonegate Bank next updated?
Stonegate Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Stonegate Bank?
In the FDIC BankFind Suite record for certificate 57934, and in the Call Reports of Stonegate Bank (RSSD ID 3339046) at the FFIEC Central Data Repository.