CenterState Bank Corporation has concluded its separate acquisitions of Sunshine Bancorp and HCBF Holding Company, thereby becoming one of the largest community banks in Florida, US.
Soon after completion of the acquisitions, Sunshine’s subsidiary bank, Sunshine Bank, and HCBF’s subsidiary bank, Harbor Community Bank, merged with and into CenterState Bank.
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As a result of these deal, CenterState has now about $10.2bn in assets, $7.9bn in deposits and 142 branches.
For each share of Sunshine common stock outstanding, its shareholders are entitled to receive 0.89 shares of CenterState common stock.
Separately, for each share of HCBF common stock outstanding, its shareholders are entitled to receive 0.675 of a share of CenterState common stock and $1.925 in cash.
Pursuant to the completion of HCBF merger, Michael Brown, Sr., chairman and CEO of HCBF and Harbor Community Bank, has joined the CenterState and CenterState Bank boards of directors.
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