Stonegate Bank last week announced its intentions to acquire Sarasota-based Insignia Bank in a $36.5-million transaction, with Insignia President and CEO Charles Brown becoming CEO for Stonegate’s Charlotte, Sarasota and Manatee county locations. The deal is expected to close in the first quarter of 2017. Brown, who founded Insignia in 2006, spoke with SRQ about decisions behind the acquisition and his role at the bank in the future.

How will this change impact existing Insignia Bank clients and customers? For customers it’s really easy. Doing reverse due diligence, there will be better pricing on loans and deposits. We will have all the same locations and add some more—it’s the current Stonegate locations as well as the Insignia locations—and there will be the the same great staff serving them. It’s win-win-win-win.

What will you be in charge of now at Stonegate? I’m excited about it. This adds Charlotte County to my territory, and I was CEO of Charlotte State Bank at one time. I will handle a market location where I have some roots.

We’ve heard more news of bank acquisitions than bank failures in the region lately. What is the state of financial health for banks in the region right now? If you are referring to the real estate market, it’s very healthy and the rising tide lifts all boats. As the real estate market continues to progress, so will the financial institutions. As far as the health of other banks, I’d leave that up to the rating agencies to discuss.

What led to the decision to sell Insignia to Stonegate? We continued to look at multiple strategies through the years. We looked at going public, listing stock, dividend strategies. This seemed like the best fit when we looked at what was best for our shareholders, customers and staff. It’s a very detailed analysis. In the end, it’s simple. Stonegate allows us to continue with a state presence and to leverage some of the infrastructure.

Did the change in the regulatory environment in recent years impact your decision? Not so much. We have had an unusual run with smart employees and a staff that functions well in this regulatory environment. It’s challenging for a lot of banks, but we’ve kept up with it.