The increase in the share value means a windfall for shareholders of Sarasota-based Insignia Bank in its acquisition by Pompano Beach-based Stonegate Bank.
March 28, 2017 at 01:00 AM
1 minute read
For shareholders of Sarasota-based Insignia Bank, the stock market’s so-called Trump Bump has meant an $11.6 million windfall.
Pompano Beach-based Stonegate Bank — which accepted a $778 million buyout offer Monday — agreed to acquire Insignialast summer in a deal that at that time represented $36.5 million in Stonegate shares, said Gregory K. Bader, a partner at the Gunster law firm who specializes in banking and financial services and represented Stonegatein the transaction.
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