Press Room

CenterState Bank Acquires First Guaranty Bank and Trust Company in FDIC-assisted Deal

JACKSONVILLE, FL (January 27, 2012)- CenterState Bank of Florida announced that it has entered into a purchase and assumption agreement with loss share arrangements with the Federal Deposit Insurance Corporation (“FDIC”) to assume all the deposits and certain other liabilities and purchase certain assets of First Guaranty Bank and Trust Company, headquartered in Jacksonville, Florida.  As a result of this transaction, all deposits, even those over the insured limits, are fully secure and safe.  This is the 6th FDIC assisted acquisition for CenterState Bank.

Founded in 1947, First Guaranty Bank and Trust Company currently operates 8 banking locations and trust operations within the greater Jacksonville area. As of September 30, 2011, First Guaranty Bank and Trust Company had approximately $378 million in total assets and $350 million in total deposits.

Gilbert J. Pomar, III, Market President for CenterState Bank stated, “First Guaranty Bank and the Fant family have a rich and wonderful tradition here in Jacksonville.  We are dedicated to keeping that and adding to it over time.  This is a special opportunity to partner with the customers and employees of this unique organization. We want to offer a warm welcome to First Guaranty Bank and Trust Company customers.  Their money is definitely safe, and they will see the same smiling faces Monday morning.” 

Jay Fant, First Guaranty’s Chairman and CEO says; “This is such positive news for First Guaranty clients. CenterState is a Florida bank, very similar to ours. We have known their bankers for years on a professional and personal basis.  These are super folks and it’s a win for Jacksonville.

Hickory Fant, First Guaranty’s Chairman Emeritus adds; “This is a home run for Jacksonville. CenterState is arguably Florida’s best known bank for customer service and financial strength. The Fant family is on board with CenterState.”

First Guaranty Bank and Trust Company banking locations will reopen during their normal business hours beginning on Monday as branches of First Guaranty Bank and Trust Company, a division of CenterState Bank.  In addition to normal hours, staff will be available at each office from 9:00AM to noon on Saturday to answer customer questions.  First Guaranty Bank and Trust Company depositors will automatically become depositors of CenterState Bank and deposits will continue to be insured by the FDIC up to $250,000 per depositor

Pomar added, “This partnership allows everyone to now play offense and grow our company.  We believe Jacksonville needs a bank like ours in today’s economic environment.” 

About CenterState Bank

CenterState Bank is approximately $2.5 billion in asset size and is a wholly-owned subsidiary of CenterState Banks, Inc., headquartered in Davenport, Florida, between Orlando and Tampa.  With the acquisition of First Guaranty Bank and Trust Company, CenterState Bank will operate 69 offices in 20 Florida counties. Through its subsidiary banks, the Company provides a range of consumer and commercial banking services to individuals, businesses, industries and other financial institutions.

CenterState Bank Branch Named Small Business of the Year

BUSHNELL, Fla. (January 25, 2012) – CenterState Bank announces its Bushnell branch has been named 2011’s Small Business of the Year by Sumter County Chamber of Commerce at its annual Business/Industry awards event on Saturday, January 21. This prestigious award is given annually to an outstanding small business in Sumter County.

CenterState Bank was chosen for its outstanding dedication to community in the Chamber’s small business category, which includes companies with less than 81 employees. Brooke Hibbard, branch manager, has served on the Chamber’s board for four years and is 2012 treasurer. During the past year, the Bushnell branch has sponsored and volunteered for several events, including Sumter County’s first annual Beef and Boogie Festival; Taste of Sumter event; Red, White and Blue dinner; Lake and Sumter’s first annual Attorney Gathering; and the Chamber’s Christmas-themed “Business After Hours” event. Additionally, the branch has helped support several other nonprofits with donations and food drives.

About CenterState Bank
CenterState Bank is a Florida-based community bank providing online banking, commercial lending, residential mortgages and investment services from 63 branches throughout the state.
For more information, please visit www.CenterStateBank.com.

Media contact:
Megan Glass, Patterson/Bach Communications
megan@pat-bach.com, 407.645.1880

* High-res photo available upon request.

CenterState Bank Acquires Central Florida State Bank in FDIC-assisted Deal

WINTER HAVEN, FL (January 20, 2012)- CenterState Bank announced that it has entered into a purchase and assumption agreement with loss share arrangements with the Federal Deposit Insurance Corporation (“FDIC”) to assume all the deposits and certain other liabilities and purchase certain assets of Central Florida State Bank, headquartered in Belleview, Florida. CenterState Bank did not pay the FDIC a premium to assume all of the deposits.  As a result of this transaction, not a single customer, even those over the insured limits, will lose a penny.  CenterState Bank is well-positioned for this acquisition as a result of its strong financial and capital position.

Founded in 2002, Central Florida State Bank operated 4 banking locations in Marion County.  As of September 30, 2011, Central Florida State Bank had approximately $79 million in total assets and $77 million in total deposits.

 “Central Florida State Bank is a wonderful addition for CenterState Bank.  The bank’s culture is rooted in its community and is a natural fit for our organization,” said Tim Pierson, North Florida Regional President, CenterState Bank. 

“Central Florida State Bank has a 10-year history in Marion County.  We’re thrilled by the opportunity to partner with the customers and employees of this organization.” said George Durhan, Marion County Community President.  “We want to offer a warm welcome to Central Florida State Bank customers.”  Central Florida State Bank’s banking locations will reopen during their normal business hours beginning on Monday as branches of Central Florida State Bank, a division of CenterState Bank.  In addition to normal hours, staff will be available at each office from 9:00 to noon on Saturday to answer customer questions.  CenterState Bank currently operates 6 locations in Marion County and the existing team will work closely with the employees and customers of Central Florida State Bank during the transition.  Central Florida State Bank depositors will automatically become depositors of CenterState Bank and deposits will continue to be insured by the FDIC.

About CenterState Bank

Centerstate Bank is approximately $2 billion in asset size and is a wholly owned subsidiary of CenterState Banks, Inc., headquartered in Davenport, Florida, between Orlando and Tampa.  Currently, the Company operates through its two subsidiary banks with 58 branch banking locations in eighteen counties throughout central Florida. Through its subsidiary banks, the Company provides a range of consumer and commercial banking services to individuals, businesses, industries and other financial institutions.

Media contact:
Erin Pagán, Patterson/Bach Communications
erin@pat-bach.com, 407.790.4442 

CenterState Bank Hosts Event with Chance to Win 2012 Convertible Mustang

WHAT:
CenterState Bank’s Dade City branch will host an event on January 28 from 9 a.m. to 5 p.m. in conjunction with Dade City’s 15th Annual Kumquat Festival. For more than 120 sponsors of this year’s Kumquat Festival, the bank branch will serve as VIP lounge with popcorn, desserts, refreshments and an opportunity to enter CenterState’s Life’s a Breeze Contest for a chance to win a 2012 Mustang convertible. The Mustang will be onsite during the event, and attendees will be able to speak with “Switch Agents” about moving their banking to CenterState and receiving “Three Free” – a free gift, free checking and free debit card when a new, qualifying account is opened. Various business customers will also be onsite to highlight their businesses and answer guests’ questions. For more information, please call Kim Newsome at 352.521.0715.

WHEN:
Saturday, Jan. 28, 2012 – 9 a.m. to 5 p.m.

WHERE:
14045 7th St., Dade City, Fla., 33525

About CenterState Bank
CenterState Bank is a Florida-based community bank providing online banking, commercial lending, residential mortgages and investment services from 59 branches throughout the state.
For more information, please visit www.CenterStateBank.com.

Media contact:
Megan Glass, Patterson/Bach Communications
megan@pat-bach.com, 407.790.4442

CenterState Bank Hosts Event with Chance to Win 2012 Convertible Mustang

WHAT:
CenterState Bank’s Osceola Parkway branch will host a week of events leading up to the big game from January 30 through February 3. Every day of the event will feature free “tailgate” food. On Thursday, Feb. 2 and Friday, Feb. 3 from noon to 3 p.m., there will be a test your passing skills event featuring Osceola High School Kowboy’s football players and cheerleaders. The bank branch is also giving away a special prize for the best-dressed fan who visits the branch that week. The event also features an opportunity to enter CenterState’s Life’s a Breeze Contest for a chance to win a 2012 Mustang convertible. The Mustang will be onsite during the event week, and attendees will be able to speak with “Switch Agents” about moving their banking to CenterState and receiving “Three Free” – a free gift, free checking and free debit card when a new, qualifying account is opened. For more information, please call Gary Smith at 407.846.2678.

WHEN:
Monday, Jan. 30 – Friday, Feb. 3, 2012

WHERE:
1000 W. Osceola Pkwy., Kissimmee, Fla. 34741

About CenterState Bank
CenterState Bank is a Florida-based community bank providing online banking, commercial lending, residential mortgages and investment services from 59 branches throughout the state.
For more information, please visit www.CenterStateBank.com.

Media contact:
Megan Glass, Patterson/Bach Communications
megan@pat-bach.com, 407.645.1880