Profile: CenterState Bank Corp (CSFL.OQ)
16 Sep 2019
CenterState Bank Corporation, formerly CenterState Banks, Inc., incorporated on September 20, 1999, is a financial holding company, which owns CenterState Bank of Florida, N.A. (CenterState Bank or the Bank). The Company provides a range of consumer and commercial banking services to individuals, businesses and industries. The Company's segments include commercial and retail banking, correspondent banking and capital markets division, and corporate overhead and administration. Its commercial and retail banking segment provides traditional deposit and lending products and services to its commercial and retail customers. Its correspondent banking and capital markets segment operates as a division within its subsidiary bank, which provides hedging services, loan brokerage and consulting services.
The Bank offers a range of lending services, including real estate, consumer and commercial loans, to individuals and small businesses and other organizations that are located in or conduct a substantial portion of their business in its market area. The Bank segregates and evaluates its loan portfolio through the five portfolio segments: residential real estate loans, commercial real estate loans, land/land development/construction loans, commercial loans and consumer/other loans. The Company's real estate loans are secured by mortgages and consist primarily of loans to individuals and businesses for the purchase, improvement of or investment in real estate, for the construction of single-family residential and commercial units, and for the development of single-family residential building lots. Its commercial loan portfolio includes loans to individuals and small-to-medium sized businesses located primarily in its market area for working capital, equipment purchases and various other business purposes. The Bank's consumer loan portfolio consists of loans to individuals for various consumer purposes, but includes some business purpose loans which are payable on an installment basis. As of December 31, 2016, the Bank's total loans were $3.42 billion.
As of December 31, 2016, the Bank's investment securities portfolio available for sale was $740.7 million. As of December 31, 2016, approximately 90% of this portfolio is invested in the United States Government mortgage backed securities (MBS), residential Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and Government National Mortgage Association (GNMA) MBSs. It also has a trading securities portfolio managed at its subsidiary bank.
Sources of Funds
The Bank's source of funds are deposits for lending and other investment activities. The Bank considers its regular savings, demand, negotiable order of withdrawal (NOW) and money market deposit accounts to be core deposits. As of December 31, 2016, the Bank's total deposits were $4.15 billion.
CenterState Bank Corp
1101 1st St S Ste 202
WINTER HAVEN FL 33880-3900