CenterState Bank (CSFL) 8-K Regulation FD Disclosure

1

NASDAQ: CSFL

May 2006

Exhibit 99.1

2

Forward Looking Statement

This

presentation

contains

forward-looking

statements,

as

defined

by

Federal

Securities

Laws,

relating

to

present

or

future

trends

or

factors

affecting

the

operations,

markets

and

products

of

CenterState

Banks

of

Florida,

Inc.

(CSFL).

These

statements

are

provided

to

assist

in

the

understanding

of

future

financial

performance.

Any

such

statements

are

based

on

current

expectations

and

involve

a

number

of

risks

and

uncertainties.

For

a

discussion

of

factors

that

may

cause

such

forward-

looking

statements

to

differ

materially

from

actual

results,

please

refer

to

CSFL’s

most

recent

Form

10-Q

filed

with

the

Securities

Exchange

Commission.

CSFL

undertakes

no

obligation

to

release

revisions

to

these

forward-

looking

statements

or

reflect

events

or

circumstances

after

the

date

of

this

presentation.

3

Franchise Overview

4

Corporate Profile

•

Headquartered in Winter Haven, Florida

•

Nasdaq

Symbol: CSFL

•

Company formed: June 2000

•

4-bank subsidiary holding company

•

29 branch banking offices throughout growth markets in Central Florida

•

Strong balance sheet growth and earnings momentum

•

1

st

Qtr 2006 Highlights:

($ Millions)

Assets:

$1,004

Loans:

600

Deposits:

830

Equity:

110

5

Branch Footprint

6

Experienced Management Team

62

39

16

Senior Vice President & COO

George H. Carefoot

37

17

7

President & CEO, CenterState Bank of Florida

John C. Corbett

46

26

14

President & CEO, CenterState Bank Mid Florida

Timothy A. Pierson

31

29

42

23

42

Years in

Banking

17

17

6

7

7

Years

with

CSFL*

51

President & CEO, CenterState Bank Central Florida

Thomas E. White

51

President & CEO, CenterState Bank West Florida

James S. Stalnaker, Jr.

54

Senior Vice President & CFO

James J. Antal

60

Senior Vice President & Chief Internal Auditor

J. Wayne Stewart

58

Chairman, President & CEO

Ernest S. Pinner

Age

Title

Name

* Includes years with predecessor bank.

7

Business Strategy

•

Emphasize relationship banking

–

We compete by providing our customers a level of customer service unmatched by our

super-regional and national competitors

•

Maintain local decision making

–

We believe our decentralized business model increases our ability to foster local

relationships and grow our customer base in each of our markets

•

Continue our disciplined execution

–

We believe our success depends on a disciplined approach to originating loans and

gathering deposits

–

We do not sacrifice quality for growth

•

Develop a network of profitable banks in high-growth markets in Central Florida

–

We pursue growth through organic expansion, de novo branching and select acquisitions

–

Our markets are some of the fastest growing in Florida

•

Leverage our investment in our branch network

–

We have opened 9 new full service branches and 4 kiosk branches since 2000

–

As

these

branches

mature,

we

believe

our

efficiencies

and

wallet

share

will

improve

•

Continue to take advantage of merger turmoil in Florida

–

Recent

acquisitions include FFLC Bancorp, Inc., FloridaFirst Bancorp, Inc. and

SouthTrust Corporation

8

Recent Developments

•

Capital raise of $35 million of common equity

•

Announced acquisition of CenterState Bank Mid Florida

(8/30/05)

•

Opened new branch –

Crystal River

•

Purchased land for corporate headquarters / new branch –

DeerCreek

(construction to be completed in mid 2007)

•

Combination of two subsidiary banks into one charter

–

CenterState Bank of Florida

–

First National Bank of Polk County

•

Closed

acquisition

of

CenterState

Bank

Mid

Florida

(3/31/06)

•

Passed

the

$1

billion

dollar

mark

in

assets

•

Announced 2-for-1 stock split (payable to shareholders of

record as of May 8

th

)

2nd

Qtr ’05

3rd

Qtr ’05

1st

Qtr ’06

4th

Qtr ’05

2nd

Qtr ’06

9

Strong Market Share

Counties of Operation

Osceola County - (Orlando MSA)

# 4 in market share (7.4%)

2nd fastest growing county in Florida

2005 - 2010 population growth of  38.8%

4 branches

Polk County - (Lakeland MSA)

# 5 in market share (5.6%)

2005 - 2010 population growth of  11.5%

12 branches

Sumter County - (The Villages MSA)

# 5 in market share (7.3%)

5th fastest growing county in Florida

2005 - 2010 population growth of  26.2%

2 branches

Pasco County - (Tampa MSA)

#8 in market share (2.1%)

12th fastest growing county in Florida

2005 - 2010 population growth of  18.9%

3 branches

Source: SNL Financial.

Deposit data as of 6/30/05.

Market share data for Citrus, Hernando, Lake, Osceola, Pasco, Polk and Sumter Counties, Florida.

Excludes Orange County in which CSFL has $30 million in deposits.

Deposits

Market

Rank

Institution

($000s)

Share

Branches

1

SunTrust Banks Inc. (GA)

4,500,499

21.06

%

82

2

Bank of America Corp. (NC)

4,458,878

20.87

63

3

Wachovia Corp. (NC)

3,913,315

18.32

79

4

Colonial BancGroup Inc. (AL)

1,340,539

6.27

30

5

Centerstate Banks of Florida (FL)

720,839

3.37

27

6

AmSouth Bancorp. (AL)

700,908

3.28

27

7

Citrus & Chemical Bancorp. (FL)

656,025

3.07

10

8

BB&T Corp. (NC)

594,930

2.78

13

9

Villages Bancorp Inc. (FL)

570,836

2.67

7

10

Alabama National BanCorp. (AL)

457,946

2.14

10

10

Market Demographics

•

5 of our 8 counties rank in the top 15

fastest growing counties in Florida

2005 - 2010 Projected Population Growth (%)

CenterState Banks of Florida, Inc.

20.64

%

Harbor Florida Bancshares, Inc.

16.65

Seacoast Banking Corporation of Florida

14.49

Fidelity Bankshares, Inc.

13.83

BankAtlantic Bancorp, Inc.

10.10

BankUnited Financial Corporation

9.76

Commercial Bankshares, Inc.

8.02

TIB Financial Corp.

7.99

Capital City Bank Group, Inc.

6.81

Florida

12.35

%

Southeast

8.16

United States

6.26

2005 - 2010

Population Growth (%)

Osceola

38.79

%

Sumter

26.16

Lake

22.41

Pasco

18.86

Hernando

16.22

Orange

16.11

Citrus

12.57

Polk

11.52

CSFL Counties

Source: SNL Financial.

Population deposit weighted by county as of 6/30/05.

Southeast includes AL, AR, FL, GA, KY, LA, MS, NC, SC, TN, VA and WV.

11

Operating Results

12

Solid Operating Results

Quarterly Financial Performance & Condition

($ in thousands, except per share data)

Q1 '05

Q2 '05

Q3 '05

Q4 '05

Q1 '06

Operating Results:

Net Interest Income

$6,273

$6,817

$7,499

$7,955

$8,264

Net Interest Margin

3.58

%

3.75

%

3.88

%

4.10

%

4.13

%

ROAA

0.66

0.72

0.86

0.87

0.83

ROAE

8.69

9.25

7.57

7.57

7.36

Efficiency

70

69

65

66

68

Diluted Earnings per Share

0.30

0.33

0.34

0.34

0.34

Balance Sheet Data:

Assets

$789,813

$830,042

$848,161

$871,521

$1,004,713

Loans

461,667

487,468

504,783

516,658

599,884

Deposits

680,506

686,553

696,121

717,337

829,667

Equity

58,165

90,443

96,439

97,241

109,927

Loans / Deposits

67.8

%

71.0

%

72.5

%

72.0

%

72.3

%

Equity / Assets

7.4

10.9

11.4

11.2

10.9

Book Value per Share

$14.27

$17.74

$18.37

$18.52

$19.81

13

Loan Portfolio

•

80% of our portfolio is secured by real estate

•

99% of commercial loans have personal guarantees

•

Our top ten relationships account for about 7% of loans

•

53% variable rate versus 47% fixed rate

($ Millions)

Consumer & Other

Commercial

Construction Real Estate

Commercial Real Estate

Residential Real Estate

14

Credit Quality

Net Charge –

Offs / Avg

Loans (%) &

Reserves / Loans (%)

NPAs

/ Assets (%)

0.19

0.30

0.27

0.17

0.18

0.13

0.00

0.15

0.30

0.45

0.60

2001

2002

2003

2004

2005

Q1 '06

0.10

0.13

0.12

0.07

0.05

0.05

1.22

1.17

1.18

1.26

1.26

1.29

0.00

0.35

0.70

1.05

1.40

2001

2002

2003

2004

2005

Q1 '06

NCOs / Avg Loans

Reserves / Loans

Nonperforming assets include assets 90 days or more past due.

15

Deposit Composition

•

Approximately 27% of our deposits are interest free

•

2001 –

2005 CAGR for non-interest bearing demand of 41%

($ Millions)

Jumbo CDs

Retail CDs

Money market & savings accounts

Demand - interest bearing

Non-interest bearing deposits

16

Low Cost Funding

1.84

1.67

1.56

1.39

1.28

1.26

1.26

1.17

1.23

2.03

1.85

1.70

1.51

1.37

1.32

1.30

1.19

1.25

0.00

0.60

1.20

1.80

2.40

Q1 '04

Q2 '04

Q3 '04

Q4 '04

Q1 '05

Q2 '05

Q3 '05

Q4 '05

Q1 '06

Cost of Deposits

Cost of Funds

Fed Funds Rate (%)

4.75

4.25

3.75

3.25

2.75

2.25

1.75

1.25

1.00

0.00

0.85

1.70

2.55

3.40

4.25

5.10

Q1 '04

Q2 '04

Q3 '04

Q4 '04

Q1 '05

Q2 '05

Q3 '05

Q4 '05

Q1 '06

Cost of Funds (%)

17

Liquidity

Loans / Deposits (%)

79

97

76

97

77

94

67

96

72

98

72

94

50

60

70

80

90

100

110

2001

2002

2003

2004

2005

Q1 '06

CSFL

Peers

Peer group includes BBX, BKUNA, CCBG, CLBK, FFFL, HARB, SBCF and TIBB.

18

Margin Expansion & Net Interest Income Growth

6.27

6.82

7.50

7.96

8.26

6.00

6.50

7.00

7.50

8.00

8.50

Q1 '05

Q2 '05

Q3 '05

Q4 '05

Q1 '06

Net Interest Income ($ Millions)

3.58

3.75

3.88

4.10

4.13

3.50

3.65

3.80

3.95

4.10

4.25

Q1 '05

Q2 '05

Q3 '05

Q4 '05

Q1 '06

Net Interest Margin (%)

•

Since Q1 ’05, net interest margin has expanded 55 bps

•

Net interest income has increased 31.7% from Q1 ’05

19

Improving Efficiencies

Efficiency Ratio (%)

•

On average, each new full service branch breaks even at $10 -

$11

million in deposits

Deposits per Branch ($ Millions)

*

Kiosk branches.

19.2

21.0

21.5

26.4

27.6

28.6

0.0

8.0

16.0

24.0

32.0

2001

2002

2003

2004

2005

Q1 '06

72

75

76

76

67

68

60

65

70

75

80

2001

2002

2003

2004

2005

Q1 '06

Branches

Opened:

2

3

4*

2

1

0

20

Financial Performance

Net Income ($ Millions)

Earnings Per Share ($)

Q1 ’06:

•

Net income increased 43% from Q1 ’05

•

Earnings per share increased 13% from Q1 ’05

•

Return on average assets:  0.83%

•

Return on average equity: 7.36%

Annual Earnings

Quarterly Earnings

Gain on Sale of Branches

0.00

0.36

0.72

1.08

1.44

2001

2002

2003

2004

2005

Q1 '05

Q1 '06

0.34

1.14

0.77

0.82

0.89

0.84

1.31

0.30

0.00

1.75

3.50

5.25

7.00

2001

2002

2003

2004

2005

Q1 '05

Q1 '06

1.81

4.37

2.63

2.37

2.52

3.22

6.33

1.26

21

Investment Highlights

22

Investment Highlights

Market Capitalization (3/31/06):

$204 million

Institutional Ownership:

21 %

Insider Ownership:

22 

# of Registered Shareholders:

845

Free Float Shares:

Approximately 4 million shares

Price Performance

S&P 500

Nasdaq Bank

Time Horizon

CSFL

Index

Index

Year-to-Date

6.7

%

3.7

%

5.2

%

1-Year

8.4

9.7

9.1

3-Year

87.6

52.7

48.6

5-Year

183.1

11.6

71.9

As of March 31, 2006.

23

Building Shareholder Value

•

Our shareholder value is built upon the quality of our

employees, the quality of our assets and liabilities and the

growth markets in which we operate

•

Our long-term vision is to be a multi-billion dollar Central

Florida bank known as the preeminent community bank in

our markets

•

We remain focused on disciplined credit underwriting and

execution of our corporate strategy

24

NASDAQ: CSFL

May 2006