Stonegate Bank is an American bank headquartered in

Pompano Beach, Florida Pompano Beach ( ) is a city in Broward County, Florida, United States. It is located along the coast of the Atlantic Ocean, just north of Fort Lauderdale. The nearby Hillsboro Inlet forms part of the Atlantic Intracoastal Waterway. As of the 2020 ...

History

Stonegate Bank was established in 2005 by David Seleski. It has "21 banking offices in south and west Florida, mainly in Broward,

Charlotte Charlotte ( ) is the List of municipalities in North Carolina, most populous city in the U.S. state of North Carolina. Located in the Piedmont (United States), Piedmont region, it is the county seat of Mecklenburg County, North Carolina, Meckl ...

, Collier, Hillsborough,

Lee Lee may refer to: Name Given name * Lee (given name), a given name in English Surname * Chinese surnames romanized as Li or Lee: ** Li (surname 李) or Lee (Hanzi ), a common Chinese surname ** Li (surname 利) or Lee (Hanzi ), a Chinese ...

Miami-Dade Miami-Dade County is a county located in the southeastern part of the U.S. state of Florida. The county had a population of 2,701,767 as of the 2020 census, making it the most populous county in Florida and the seventh-most populous county in ...

, Palm Beach and Sarasota counties." By June 2015, it had "$2.27 billion in assets and $1.93 billion in deposits." In 2017, Stonegate was bought by Home BancShares.

Activities in Cuba

Since 2015, it has been active in

Cuba Cuba ( , ), officially the Republic of Cuba ( es, República de Cuba, links=no ), is an island country comprising the island of Cuba, as well as Isla de la Juventud and several minor archipelagos. Cuba is located where the northern Caribbea ...

. It is the only US bank to be used by the Cuban government. For example, it is used to process Cuban visa fees. Meanwhile, the bank also signed a contract with Banco Internacional de Comercio to serve as its

correspondent bank A correspondent account is an account (often called a nostro or vostro account) established by a banking institution to receive deposits from, make payments on behalf of, or handle other financial transactions for another financial institution. Co ...

. The bank has been criticized by Cuban-born

Republican Republican can refer to: Political ideology * An advocate of a republic, a type of government that is not a monarchy or dictatorship, and is usually associated with the rule of law. ** Republicanism, the ideology in support of republics or agains ...

Congresswoman

Ileana Ros-Lehtinen Ileana Ros-Lehtinen (; born Ileana Carmen Ros y Adato, July 15, 1952) is a politician and lobbyist from Miami, Florida, who represented from 1989 to 2019. By the end of her tenure, she was the most senior U.S. Representative from Florida. She wa ...

for its activities in Cuba.

References

Banks established in 2005 Banks based in Florida 2005 establishments in Florida Defunct banks of the United States {{Florida-stub