DAVENPORT, FL (May 23, 2011) - CenterState Banks, Inc. (NASDAQ: CSFL) announced that it has entered into a definitive agreement with The Hartford Financial Services Group, Inc. to purchase Federal Trust Corporation and subsequently merge Federal Trust Bank into its lead subsidiary bank, CenterState Bank of Florida. This transaction is expected to close by the end of the year pending regulatory approval. CenterState is well-positioned for these acquisitions as a result of its strong financial and capital position. With the closing of this transaction, CenterState will assume all of the deposits (approximately $230 million) and purchase selected performing loans (totaling approximately $170 million) and other assets of Federal Trust Bank. CenterState will not pay a premium to assume the deposits and will receive a 27% discount on selected performing loans. CenterState also has the option to put back any purchased loan for up to one year after closing that becomes 30 days past due or becomes adversely classified by applicable regulatory standards. Headquartered in Sanford, Florida with branches throughout Central Florida, Federal Trust Bank is strategically positioned along the I-4 and I-95 corridors in Central Florida. “Federal Trust Bank is a natural addition for CenterState. This addition continues our vision to build out the I-4 and I-95 corridors as well as our Central Florida footprint. With this acquisition, we add to our 52 other conveniently located offices in Central Florida,” said Ernie Pinner, Chairman, President, and CEO of CenterState Banks, Inc. Founded in 1988, Federal Trust Bank is one of the oldest financial institutions in Seminole County. “Federal Trust Bank has been a reliable source for banking customers in Central Florida for almost 25 years and we look forward to continuing that tradition. We are excited for the opportunity to partner with the employees of Federal Trust and we welcome all of Federal Trust’s customers,” said John Corbett, President and CEO of CenterState Bank of Florida. Over the past year, CenterState has acquired 3 FDIC assisted transactions headquartered in Clewiston, Bartow, and Ocala, Florida respectively. CenterState also purchased four branches from TD Bank in Putnam County, Florida in January of this year. Since the summer of 2009, CenterState has completed two successful stock offerings totaling approximately $120 million which has funded these recent acquisitions.
WINTER HAVEN, FL (March 30, 2011)- CenterState Bank is breaking new ground on some cyber real estate. The bank is carving out its own space on Facebook for access and information exchange, making it even more personal and connected to customers.
You can join up with CenterState in the social media arena by ‘liking’ our Facebook Page. Simply clicking the ‘like’ button will allow you to follow posts on news, announcements, and community events. CenterState on Facebook You will also be able to check out our current new account gift gallery, which includes many rewards for opening an account with CenterState. Some of the available gift options include a spa treatment, a fitness assessment, a meal for two, or a free financial consulting session. CenterState Bank is excited as it enters into the social media realm because it provides an improved channel to share information and interact with banking members. “It’s our next level of engaging the customer and simply being available to them,” said Jason Young E-Services Manager. “We want to be as accessible to our customers as we can be, so it’s only natural to keep folks informed in a space many of them routinely find themselves,” added Young. Like CenterState Bank on Facebook and stay in touch by telling us ways to improve your banking experience. We are listening to you, and we highly value your feedback. Thank you for being a member of the CenterState family.
About CenterState Bank
CenterState Bank [NASDAQ: CSFL] is a Florida based bank providing online banking, commercial lending, residential mortgages, and investment services throughout 47 Florida banking offices.
BARTOW, FL (January 22, 2011)- The Ledger, Suzie Schottelkotte
More than 15 years ago, the late George W. Harris Jr. hand-picked Anita Stasiak for his top management team at Polk County-based Citrus & Chemical Bank. Saturday night, Stasiak was presented the award that bears his name. "Although she lives in Lakeland," 2009 winner Debbie Burdett said in presenting the award, "Anita Stasiak will tell you her heart belongs to Bartow, and it is here that she has served as a volunteer for many organizations, working hard to make Bartow a better place."
The annual George W. Harris Jr. Leadership Award is the highest honor bestowed by the Greater Bartow Chamber of Commerce. It's presented to a recipient who embodies the spirit of community and volunteerism that Harris represented. Candidates for the award are nominated and recipients are chosen by a committee of chamber directors and past award winners. As in years past, the recipient's name was held secret until the award was presented Saturday during the chamber's annual banquet at the Bartow Civic Center.
In accepting the award, Stasiak said, Harris taught her the importance of community relations. "He taught me it wasn't just the bottom line that was important, it was building relationships with people." Stasiak, the Bartow branch manager of CenterState Bank, has served as president of the chamber, the chamber's foundation and Bartow's Rotary Club, and has served on the boards of directors for the Bartow Community Healthcare Foundation, VISTE, the Peace River Center and Main Street Bartow. "George obviously saw what all of us now recognize as one of Bartow's finest assets," Burdett said.
"George Harris' success was no doubt contributed to by his ability to surround himself with the very best." Stasiak currently serves on Bartow's Committee of 100 economic development group, along with county's charter review committee. She and her husband, Mike, have been married for 30 years and have two daughters, Lindsey and Ashley. Jeff Clark, the chamber's executive director, said Stasiak is a graduate of the chamber's Leadership Bartow program, and her contributions to the chamber have been numerous. "I could not be happier for Anita," he said. "She is an outstanding example of the Leadership Bartow program, and has contributed a great deal to the area. "I'm sure George Harris would be very pleased to have this award go to someone he thought so much of."
FT. MYERS, FL (Nov. 19, 2010)- Ft. Myers New-Press, Yvonne Ayala McClennan
The economy is starting to look up, but may continue to improve at a crawl. That was the message Thursday from a nationally recognized economist at a Preferred Community Bank event in Fort Myers. A group of about 45 people got a positive outlook from Joseph T. Keating, the chief investment officer for Birmingham, Ala.-based CenterState Bank. The event was at Preferred’s 4379 Colonial Blvd. location. Keating said the major private sector adjustments that are part of a recession already occurred nationwide, such as 8.5 million jobs lost, a 15 percent decline in industrial production measures and a 75 percent decline in housing starts. “What that says to me is that the likelihood of us falling into a new recession anytime soon is very low,” he said. Julie Ann Garber, an attorney with Becker & Poliakoff in Fort Myers, found the news refreshing and in line with her personal experiences. “He was very optimistic, very positive,” she said. “He’s someone who studies the economy, he’s watching what’s going on and he’s telling us things are looking up.” Although conditions seem to be improving, Keating said the U.S. has had a below average recovery this time around. Historically, economic recoveries dating back to World War II showed a 6 percent growth rate in the first year, but the current recession has had about a 3 percent growth for the same period, Keating said. He attributes the low growth to households and businesses focusing on lowering their debt, but who are also raising their savings rates. Keating said when things were good the savings rate was estimated at 2 percent but has now reached around 6 percent. “Both of those things –– lowering debt levels and raising savings rates — are good long term, but in the short run they are more headwinds in the economy than tailwinds,” he said. Keating also said the national housing market is likely to settle soon, but because of oversupply in the housing stock, people are concerned more affordable prices will soon come on the market. But the Nov. 2 elections were a positive step for the economy, where voters showed they wanted more pro-growth and less anti-business policies nationwide, he said. “We need more job growth,” Keating said, “and that’s what will actually really cause there to be a bottom in housing prices.”
WINTER HAVEN, FL (Oct. 29, 2010)- Move by Florida Bank Will Mean Efficient Capital Management and Other Benefits CenterState Banks Inc. [NASDAQ: CSFL] received federal regulatory approval on Oct. 13 from the Office of the Comptroller of the Currency to merge its three national subsidiaries into one national bank. Officials at the bank point to benefits of the move such as operational efficiencies and more effective capital management and additional jobs for the area. While phrases like ‘operational efficiencies’ are often code for layoffs, Ernie Pinner, CEO of the holding company CenterState Banks Inc. said in this case CenterState will be adding to its ranks due to the acquisition of four failed banks and the purchase of four Putnam County branches of Mercantile Bank. The merger also means the bank will be subject to one regulatory exam instead of three, while the increase in size allows for the appointment of specialists to handle complex regulatory issues, said Jim Antel, chief financial officer of CenterState Bank. CenterState Bank Central Florida NA in Kissimmee, CenterState Bank NA in Zephyrhills and CenterState Bank of Florida NA will operate under the combined entity of CenterState Bank of Florida NA at its Winter Haven main office. John Corbett, president and CEO of CenterState Bank of Florida, will be president and CEO of the combined bank. Timothy Pierson, CEO of CenterState Bank, and Thomas White, CEO of CenterState Bank Central Florida, will be area presidents continuing to oversee their respective markets. A fourth subsidiary, Valrico State Bank, the company's only state chartered entity, will continue to operate as a separate unit for now, but possible plans for its merger could come at a later date. About CenterState Bank, Inc. CenterState Bank, Inc. [NASDAQ: CSFL] is a Florida based bank providing online banking, commercial lending, residential mortgages, and investment services throughout 35 Florida banking offices. CenterState Bank was founded in 1989, and acquired its correspondent banking division in 2008. CenterState has nearly $1.3 billion in assets, according to the June 30 Summary of Deposits release by the Federal Deposit Insurance Corp. SOURCE: CenterState Bank, Inc.
Media Contact: Jill Osborne 863-293-4710 email@example.com (initial release via Business Wire on October 29, 2010)