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Stonegate Bank posts 1Q profit

FORT LAUDERDALE, Fla. (AP) _ Stonegate Bank (SGBK) on Friday reported first-quarter net income of $8 million.

The bank, based in Fort Lauderdale, Florida, said it had earnings of 53 cents per share. Earnings, adjusted for non-recurring costs, were 58 cents per share.

The commercial bank posted revenue of $31.5 million in the period. Its adjusted revenue was $28 million.

Stonegate Bank shares have climbed 10 percent since the beginning of the year. In the final minutes of trading on Friday, shares hit $45.90, an increase of 44 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SGBK at https://www.zacks.com/ap/SGBK

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Keywords: Stonegate Bank, Earnings Report