Centerstate Bank Analysis


To understand Centerstate Bank by analyzing their history, acquisitions, brand, values, and news releases so a business background can be developed for a prospective client.

Early Findings

Bank Overview

  • Centerstate Bank serves businesses and individuals, and is in Winter Haven, Florida. They are a full service licensed financial company that accepts deposits, provides loans, and other services to the public. It specializes in personal and commercial banking services. The bank provides various financial services such as wealth management, title and escrow services, commercial lending, equipment leasing, commercial real estate; and treasury and cash management.
  • The Bank also has a national footprint, serving clients coast-to-coast through its correspondent banking division.
  • "CenterState Bank N.A. was started by a group of bankers and entrepreneurs over 25 years ago with 3 separate banks in Polk, Osceola and Pasco Counties with the history of quality service and community focus. The group of bankers came together around the belief that local ownership and local management would translate into a better bank. Through their vision and investment, a bank was born. Our Core Values Local Market Driven, A Long Term Horizon, World Class Service, Relationship Banking, Faith and Family not only inspire how we operate as a company, but they also reflect our employees’ character and influence on the communities we serve."
  • CenterState Bank is headquartered in Winter Haven and is the 5th largest bank in the state of Florida. It is also the 121st the largest bank in the nation. It was established in 1992 and as of March 2019, it had grown to 2,091 employees at 134 locations. CenterState Bank has an A+ health rating.
  • They are a public IPO.
  • Centerstate Bank has acquired six companies. Their latest was National Commerce Corp, for $850 million. They have also acquired Harbor Community Bank (2017), Sunshine Bank (2017), Gateway Financial Holdings (2016), Platinum Bank Holding (2016), and First Southern Bank (2014).
  • Their website has 792,895 monthly visits and has a 7.69% growth rate.
  • The executive team consists of Robert Dodd (CCO), Jennifer Idell (CFO), John Corbett (President & CEO), Steve Young (COO), and Dan Brockhorst (CRO)
  • "The bank was founded upon a set of core values, including 'world-class service' and 'relationship banking' which have inspired our approach to the business since the beginning." Thompson added, "We are appreciative to our customers for this recognition and will continue to work each day to earn their loyalty and trust."
  • CenterState Bank was named the top bank in Florida on Forbes first-ever "Best-in-State Banks" listing. CenterState operates as one of the state's largest locally-owned franchises with strong financial performance, and this honor highlights the bank's customer service and relationship focus with its clients, a trademark and strength of its community bank model.
  • There are many reviews of the bank. Some of them can be read here.


  • Financials for Q1 2019:
  • Assets-$12.58B
  • Loans-$8.36B
  • Deposits-$9.75B
  • Equity Capital-$2.06B
  • Loan Loss Allowance-$40.0MM
  • Unbacked Noncurrent Loans-$43.0MM
  • Real Estate Owned-$6.0MM
  • They have a correspondence and blog section of their website that contains a wealth of information. One article of note was how they based some of their business model on a local grocery store, Wegmanns. It contains information on their values, and a section on market strategy.
  • Their annual report is full of information that would be useful.

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