Stonegate Bank in Pompano Beach, Fla., could be getting close to announcing another acquisition.
The $2.4 billion-asset Stonegate is "actively looking" at deals in hopes of reaching an agreement by the end of this year, David Seleski, the company's president and chief executive, said during a conference call Wednesday to discuss quarterly results.
"We really have fine-tuned how we're looking at acquisitions, we're really only looking in-market deals," Seleski said. "Right now, we're number one or will be number one in the closed region in the Broward County. We would like to be number one or number two in some of the other markets that we're in as well. … We feel fairly confident we're going to get something done."
The bulk of Stonegate's operations are in Broward County, but the company also has branches in Florida's Miami-Dade, Palm Beach and Sarasota counties, among others.
Stonegate also wants to establish operations around Orlando and Jacksonville, but Seleski said his company will likely try to do so by hiring bankers before looking at acquisitions.
Stonegate agreed in April to buy Regent Bancorp in Davie, Fla., for $40 million. That acquisition would be the company's ninth since 2009.