CenterState Banks, Inc. (CSFL)

[56Chevy]

Another possible buyer of other Florida banks.

CenterState wraps $196M First Southern Bank deal

CenterState Banks Inc. has completed its purchase of First Southern Bancorp Inc.

The cash-and-stock deal was valued at $196.3 million at the close, an increase from its original $189.5 million price-tag because shares of CenterState (NASDAQ: CSFL) gained in value, according to this report in the South Florida Business Journal.

It’s the 10th acquisition for Davenport-based CenterState, which had about $3 billion in assets before the deal closed.

Six of the earlier deals were for failed banks, but more recently CenterState has grown through purchases of healthy banks such as First Southern, based in Boca Raton, and the January purchase of Gulfstream Business Bank in Stuart for $77 million.

Florida Southern gives CenterState another $1 billion in assets and 17 offices, including a much larger presence in South Florida.

http://www.bizjournals.com/tampabay/news/2014/06/02/centerstate-wraps-196m-first-southern-bank-deal.html

*10 acquisitions....wow.

Marker:
Centerstate Banks, I (CSFL)
$10.685 up 0.005 (0.05%)
Volume: 76,913