Stonegate Bank ( SGBK ) disclosed the issuance of MasterCard credit cards for use in Cuba, making it the first lender in the U.S. to take such a step.

"Hopefully, more U.S. Banks will allow their customers to use their cards in Cuba, thus helping to alleviate the burden on travelers to the island," said Dave Seleski, the chief executive officer of Stonegate.

In addition to personal credit cards, the lender will also be issuing corporate, purchasing, payroll and prepaid cards within the next 30 days.

Stonegate shares were flat in post-market, after closing down 0.4% on Tuesday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.