The right fit

Pompano Beach-based Stonegate Bank has hopscotched up and down the Gulf Coast since 2009, buying banks from Naples to Tampa.

Now it's adding depth to the region with its acquisition of Insignia Bank — Stonegate's second acquisition in the Sarasota area. When completed early next year, the deal will make Stonegate the largest community bank in Sarasota by deposit market share, with $412 million. “It's going to be one of the higher growth markets in Florida,” says David Seleski, the CEO of Stonegate Bank.

But Stonegate isn't done scouting for more acquisitions, and that includes building its presence in the Tampa and St. Petersburg markets. Stonegate entered the Tampa market in June 2011 when it acquired the failed First Commercial Bank of Tampa Bay from the Federal Deposit Insurance Corp.