CSFL Centerstate Banks of Florida, Inc. featured news, full reports, and detailed charts
Centerstate Banks of Florida, Inc. (CSFL) Wrap Up:
CenterState Banks of Florida, Inc. (“We,” “CenterState” or the “Company”) was incorporated under the laws of the State of Florida on September 20, 1999. CenterState is a registered bank holding company under the Bank Holding Company Act of 1956, as amended (the “BHC Act”) and owns all the outstanding shares of CenterState Bank Central Florida (“Central”), CenterState Bank National Association (“CSNA”), CenterState Bank of Florida (“CSB”), and Valrico State Bank (“VSB”) (collectively, the “Banks”). In April 2007, we closed the acquisition of Valrico Bancorp, Inc. and its wholly owned subsidiary bank, VSB. VSB operates in Hillsborough County, which is contiguous to Pasco and Polk Counties, where we currently have banking locations. On November 30, 2007, CSNA purchased all of the assets and assumed all of the liabilities of CenterState Bank Mid Florida, a bank we acquired on March 31, 2006. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f07%2f0001193125-08-049820.html#FIS_BUSINESS"www.centerstatebank.com
399 Employees
Founded in 1989
CenterState Banks, Inc. (CSFL:NASDAQ)
LAST $8.67 USD
CHANGE TODAY +0.02 0.23%
VOLUME 77.4K
As of 4:00 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of CenterState Banks, Inc. (CSFL)
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OPEN
$8.55
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PREVIOUS CLOSE
$8.65
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DAY HIGH
$8.80
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DAY LOW
$8.50
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52 WEEK HIGH
01/7/09 - $17.15
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52 WEEK LOW
03/6/09 - $6.21
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MARKET CAP
223.5M
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AVERAGE VOLUME 3 mo
148.0K
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DILUTED EPS TTM
$-0.24
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SHARES OUTSTANDING
25.8M
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EX-DATE
09/11/09
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P/E TTM
NM
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DIVIDEND
$0.04
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DIVIDEND YIELD
0.46%
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| K = Thousands M = Millions B = Billions | ||
CSFL Top Compensated Officers
Mr. Ernest S. Pinner
Chairman, Chief Executive Officer, President,...
Age: 61
Total Annual Compensation: $450.0K
Mr. James Antal
Chief Financial Officer, Principal Accounting...
Age: 57
Total Annual Compensation: $220.0K
Mr. John C. Corbett
Executive Vice President, Chief Executive Off...
Age: 40
Total Annual Compensation: $269.9K
Mr. Timothy A. Pierson
Chief Executive Officer of CenterState Bank N...
Age: 49
Total Annual Compensation: $257.0K
Mr. Thomas E. White
Chief Executive Officer of CenterState Bank C...
Age: 54
Total Annual Compensation: $221.0K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for CenterState Banks, Inc. (CSFL)
CenterState Banks, Inc. expected to Report Fiscal Year 2009 Results on March 1, 2010. This event was calculated by Capital IQ (Created on November 2, 2009).
11/2/2009
CenterState Banks, Inc. expected to Report Fiscal Year 2009 Results on March 1, 2010. This event was calculated by Capital IQ (Created on November 2, 2009).
CenterState Banks, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009 ; Announces Impairment Charges
10/23/2009
CenterState Banks, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company has reported loss before income tax of $3,984,000, net loss of $2,230,000 and net loss available to common shareholders of $3,569,000 or $0.17 per diluted share on net interest income of $13,825,000 compared to income before income tax of $1,006,000, net income of $761,000 and net income available to common shareholders of $761,000 or $0.06 per diluted share on net interest income of $10,376,000 for the same period last year. Annualized return on average assets was negative at 0.50% against positive 0.25% and annualized return on average equity was negative at 4.11% against positive 2.03% reported last year. For the quarter, the company has reported impaired loans of $56,947,000 against $21,637,000 for the same period last year.
CenterState Banks Seeks Acquisitions
07/30/2009
CenterState Banks, Inc. plans to make acquisitions. The firm announced that it has priced its previously disclosed public offering of 11,540,000 shares of its common stock at a price to the public of $6.5 per share for total gross proceeds of approximately $75 million. Keefe, Bruyette & Woods, Inc. is serving as lead book running manager of the offering, and Raymond James & Associates, Inc. is a co-manager. The underwriters will have a 30-day option to purchase up to an additional 15% of the shares sold to cover over-allotments, if any. The Company expects to receive net proceeds from the offering of approximately $70.7 million. The Company intends to use the net proceeds from the offering to finance the growth of its business. While the Company expects that any growth would occur organically through branching in new or existing markets, it may continuously consider the expansion of its business through acquisitions. The Company does not currently have any agreements in place with respect to any acquisition.
CSFL Competitors
| Company | Last | Change |
| Cardinal Financial Corp | $9.04 USD | +0.23 |
| National Bankshares Inc VA | $27.99 USD | -0.45 |
| Porter Bancorp Inc | $14.78 USD | +0.0199 |
| StellarOne Corp | $10.29 USD | +0.12 |
| Union Bankshares Corp | $11.55 USD | +0.13 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | CSFL | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 3.4x |
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| Price/Book | 0.9x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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CSFL |
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CSFL transactions
| Type Date |
Target | |
| No transactions in the last 6 months. | ||
More Recent News About Centerstate Banks of Florida, Inc.
More news for CSFL
Market cap threshold drops for Russell 2000
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CENTERSTATE BANKS, INC. Files SEC form 8-K, Other Events, Financial Statements and Exhibits
Show all filings for CENTERSTATE BANKS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for CENTERSTATE BANKS, INC. 4-Aug-2009Other Events, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for inform...Click here to read the whole Article (external link)
CenterState Banks repays TARP funding
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CENTERSTATE BANKS, INC. Files SEC form 8-K, Other Events
Show all filings for CENTERSTATE BANKS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for CENTERSTATE BANKS, INC. 1-Oct-2009Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for t...Click here to read the whole Article (external link)
CenterState loss swells on provision for bad loans
CenterState Banks Inc. reported a net loss available to common shareholders for the third quarter of 2009 of $3.6 million, or 17 cents a share, compared with net income of $761,000, or 6 cents a share for the third quarter in 2008. The net loss for the just-ended quarter included a loan loss provision of $8.7 million, as well the preferred stock dividends and accretion related to the redemption of preferred stock issued to the U.S. Treasury under the Troubled Asset Relief Program. On Sept. 30, CenterState redeemed $27.9 million in preferred stock it issued to the Treasury under TARP, after raising $86 million in a public offering one month earlier. CenterState’s net loss for the third quarter of 2009 was $2.2 million not including the dividend payment and accretion, a release said. The banking company also cited an improvement of credit metrics in the third quarter, compared with the second quarter of 2009. Nonperforming loans as a percentage of all loans in the third quarter improved to 3.12 percent from 3.49 percent. The nonperforming asset ratio improved to 2.2 percent form 2.57 percent. The allowance for loan losses as a percentage of total loans increased to 1.85 percent compared to the second quarter’s 1.77 percent. The net interest margin increased to 3.24 percent during the third quarter, compared with 3.14 percent during the second quarter. The company’s correspondent banking division contributed about $1.5 million in after-tax earnings during the third quarter, after adding about 40 employees from the failed Silverton Bank in Atlanta in July. CenterState (NASDAQ: CSFL), headquarte...Click here to read the whole Article (external link)
CENTERSTATE BANKS, INC. Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue27,383 24,023 22,997 19,958 Cost of Revenue4,624 5,569 6,033 5,742 Gross Profit - 18,454 16,964 14,216 Operating ExpensesResearch Development - - - - Selling General and Administrative16,661 13,489 12,064 9,850 Non Recurring77 774 688 296 Others9,607 5,007 2,652 3,604 Total Operating Expenses - - - - Operating Income or Loss - (816)1,560 466 Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes(3,586)(816)1,560 466 Interest Expense398 485 522 622 Income Before Tax(3,984)(1,301)1,038 (156)Income Tax Expense(1,754)(569)266 (237)Minority Interest - - - - Net Income From Continuing Ops(2,230)(732)772 81 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Changes - - - - ...Click here to read the whole Article (external link)
CENTERSTATE BANKS, INC. Files SEC form 10-Q, Quarterly Report
ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS COMPARISON OF BALANCE SHEETS AT SEPTEMBER 30, 2009 AND DECEMBER 31, 2008 Overview Total assets were $1,783,823,000 as of September 30, 2009, compared to $1,333,143,000 at December 31, 2008, an increase of $450,680,000 or 34%. The increase was due primarily from the acquisition of the Ocala branches from the FDIC in January 2009, growth in correspondent bank deposits (i.e., federal funds purchased), and internally generated deposit growth. Federal funds sold Federal funds sold were $168,190,000 at September 30, 2009 (approximately 9.4% of total assets) as compared to $57,850,000 at December 31, 2008 (approximately 4.3% of total assets). We use our available-for-sale securities portfolio, as well as federal funds sold, for liquidity management and for investment yields. These accounts, as a group, will fluctuate as a function of loans outstanding, and to some degree the amount of correspondent bank deposits (i.e., federal funds purchased) outstanding. Investment securities Securities available-for-sale, consisting primarily of U.S. government agency securities and municipal tax exempt securities, were $508,290,000 at September 30, 2009 (approximately 28% of total assets) compared to $252,080,000 at December 31, 2008 (approximately 19% of total assets), an increase of $256,210,000 or 102%. We use our available-for-sale securities portfolio, as well as federal funds sold for liquidity management and for investment yields. These accounts, as a group, will fluctuate as a function of loans outstanding and the amount of correspondent bank deposits outstanding as discussed above, under the caption "Federal funds sold." The significant increase in our securities available-for-sale during the current period was due to the acquisition of the Ocala branches and the related deposits from the FDIC, the increase in correspondent bank deposits (i.e., f...Click here to read the whole Article (external link)
CENTERSTATE BANKS, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and Exhi
Show all filings for CENTERSTATE BANKS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for CENTERSTATE BANKS, INC. 28-Oct-2009Entry into a Material Definitive Agreement, Financial Statements and Exhi Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information ...Click here to read the whole Article (external link)
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