CenterState Bank (CSFL) 8-K This presentation contains forward-looking statements, as defined by

NASDAQ: CSFL

May 2007

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

•

•

5-bank subsidiary holding company*

•

35 branch banking offices* throughout growth markets in Central Florida

•

Recently

completed

acquisition

of

Valrico

Bancorp,

Inc.

on

April

2,

2007

•

1  Qtr 2007 Highlights ($ Millions):

As Reported:

Pro Forma*:

Assets:

Loans:

684

806

Deposits:

890

1,021

Equity:

120

142

Company formed: June 2000

$1,087

* Pro forma for acquisition of Valrico Bancorp, Inc. on 4/2/07.

$1,271

st

Branch Footprint

6

Experienced Management Team

* Includes years with predecessor bank.

Executive Management

Internal Audit / Compliance

Senior Commercial Loan Officers

54

30

<1

President & CEO, Valrico State Bank

Jerry Ball

47

27

14

President & CEO, CenterState Bank Mid Florida

Timothy A. Pierson

38

18

8

President & CEO, CenterState Bank of Florida

John C. Corbett

52

30

19

President & CEO, CenterState Bank Central Florida

Thomas E. White

63

40

17

Senior Vice President & COO

George H. Carefoot

55

24

8

Senior Vice President & CFO

James J. Antal

59

43

8

Chairman, President & CEO

Ernest S. Pinner

Age

Years in

Banking

Years with

CSFL*

Title

Name

50

26

5

Senior Lenders (20)

Title

Avg

Age

Avg

Years

in Banking

Avg

Years

with CSFL*

46 (Avg)

22 (Avg)

4 (Avg)

Auditor/Compliance/Loan Review

Staff (4)

61

43

7

Senior Vice President & Chief Internal Auditor

J. Wayne Stewart

Age

Years in

Banking

Years with

CSFL*

Title

Name

7

Business Strategy

•

Maintain local decision making

•

Emphasize relationship banking

•

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

Central Florida

•

Disciplined approach to loan and deposit growth

•

Leverage our investment in our branch network

•

Continue to take advantage of merger turmoil in Florida

8

Acquisition of Valrico Bancorp, Inc.

Valrico Branch

TRANSACTION OVERVIEW

Close Date

4/2/2007

Deal Value

$36.1

million

Consideration Mix

65% Stock

Price / Earnings (2006)

19.3

x

Price / Book

221.4

%

Core Deposit Premium

17.9

FINANCIAL HIGHLIGHTS

Assets

$161.5

million

Loans

122.1

Deposits

130.6

ROAA (2006)

1.24

%

ROAE (2006)

13.26

Net Interest Margin (1Q 07)

4.93

Efficiency (1Q 07)

67.35

NPAs

/ Assets

0.01

Reserves / Loans

1.32

Loans / Deposits

93.54

Tangible Equity / Assets

10. 10

Source:  SNL Financial, FDIC and Company reports.

Deal Value and pricing multiples at close.

Data as of 04/02/07 unless otherwise noted.

9

Strong Market Share

Counties of Operation

Source: SNL Financial.

Deposit data as of 6/30/06; pro forma for acquisition of Valrico Bancorp, Inc.

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

Excludes Orange County in which CSFL has $33 million in deposits and 2 branches.

Osceola County - (Orlando MSA)

# 3 in market share (8.4%)

2nd fastest growing county in Florida

2006 - 2011 population growth of  38.3%

5 branches

Polk County - (Lakeland MSA)

# 5 in market share (5.5%)

2006 - 2011 population growth of  11.9%

12 branches

Sumter County - (The Villages MSA)

# 5 in market share (5.0%)

7th fastest growing county in Florida

2006 - 2011 population growth of  28.9%

2 branches

Pasco County - (Tampa MSA)

# 9 in market share (2.2%)

8th fastest growing county in Florida

2006 - 2011 population growth of  25.1%

3 branches

Deposits

Market

Rank

Institution

($000s)

Share

Branches

1

Bank of America Corp. (NC)

9,191,252

22.37

%

103

2

Wachovia Corp. (NC)

8,218,794

20.00

115

3

SunTrust Banks Inc. (GA)

7,597,060

18.49

130

4

Regions Financial Corp. (AL)

2,516,248

6.12

83

5

Colonial BancGroup

Inc. (AL)

2,261,722

5.50

41

6

CenterState

Banks of Florida (FL)

957,218

2.33

33

7

BB&T Corp. (NC)

735,384

1.79

20

8

Citrus & Chemical Bancorp. (FL)

731,620

1.78

10

9

South Financial Group Inc. (SC)

715,293

1.74

17

10

Tampa Banking Company (FL)

709,287

1.73

10

10

Market Demographics

•

4 of our 9 counties rank in the top 10

fastest growing counties in Florida

CSFL Counties

2006 - 2011 Projected Population Growth (%)

CenterState Banks of Florida, Inc.

21.5

%

Bank of Florida Corporation

18.7

Seacoast Banking Corporation of Florida

13.8

TIB Financial Corp.

10.2

BankUnited Financial Corporation

9.7

BankAtlantic Bancorp, Inc.

9.4

Capital City Bank Group, Inc.

8.3

Florida

12.9

%

Southeast

9.0

United States

6.7

2006 - 2011

Population Growth (%)

Osceola

38.3

%

Lake

29.6

Sumter

28.9

Pasco

25.1

Hernando

18.9

Orange

15.8

Citrus

14.2

Hillsborough

13.8

Polk

11.9

Source: SNL Financial.

CSFL pro forma for acquisition of Valrico Bancorp, Inc.

Population deposit weighted by county as of 6/30/06.

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

11

Market Demographics

CSFL Branch

'06 - '11 Pop Growth

> 25%

15% - 25%

10% - 15%

12

Operating Results

13

Solid Operating Results

Quarterly Financial Performance & Condition

($ in thousands, except per share data)

Q1 '06

Q2 '06

Q3 '06

Q4 '06

Q1 '07

Operating Results:

Net Interest Income

$8,264

$9,581

$9,636

$9,622

$9,598

Net Interest Margin

4.20

%

4.29

%

4.12

%

4.09

%

4.09

%

ROAA

0.84

0.89

0.87

0.84

0.69

ROAE

7.46

7.99

7.87

7.46

6.17

Efficiency

68

66

67

70

72

Diluted Earnings per Share

$0.17

$0.19

$0.20

$0.19

$0.16

Balance Sheet Data:

Assets

$1,004,713

$1,028,630

$1,024,690

$1,077,102

$1,086,818

Loans

599,884

621,638

637,684

657,963

684,141

Deposits

829,667

855,031

845,849

892,806

889,638

Equity

109,927

111,072

114,812

117,332

119,716

Loans / Deposits

72.3

%

72.7

%

75.4

%

73.7

%

76.9

%

Equity / Assets

10.9

10.8

11.2

10.9

11.0

Book Value per Share

$9.91

$10.00

$10.32

$10.54

$10.71

14

Loan Portfolio

•

80% of our portfolio is secured by real estate

•

Our top ten relationships account for about 6% of loans

•

46% variable rate versus 54% fixed rate

•

C&D loans represent 10% of total portfolio

($ Millions)

Consumer & Other

Commercial

Construction, Development,

& Land

Commercial Real Estate

Residential Real Estate

0

150

300

450

600

750

2002

2003

2004

2005

2006

Q1 '07

186

334

414

441

517

658

56

77

69

297

684

15

Credit Quality

Net Charge –

Offs / Avg

Loans (%) &

Reserves / Loans (%)

NPAs

/ Assets (%)

Nonperforming assets include assets 90 days or more past due.

0.13

0.12

0.07

0.05

0.08

0.00

1.17

1.29

1.12

1.22

1.12

1.26

0.00

0.35

0.70

1.05

1.40

2002

2003

2004

2005

2006

Q1 '07

NCOs / Avg Loans

Reserves / Loans

0.30

0.27

0.17

0.18

0.06

0.14

0.00

0.15

0.30

0.45

2002

2003

2004

2005

2006

Q1 '07

16

Deposit Composition

•

Approximately 23% of our deposits are non-interest bearing

checking accounts

•

2002 –

2006 CAGR for non-interest bearing demand of 29%

•

Q1 ’07 cost of funds of 2.95% vs. 3.53% for peers

($ Millions)

CDs

Money market & savings accounts

Demand - interest bearing

Non-interest bearing deposits

0

200

400

600

800

1000

2002

2003

2004

2005

2006

Q1 '07

162

115

203

410

441

538

660

717

893

890

17

Low Cost Funding

Fed Funds Rate (%)

Cost of Funds (%)

5.25

5.25

5.25

5.25

4.75

4.25

3.75

3.25

2.75

2.25

1.75

1.25

1.00

0.00

1.35

2.70

4.05

5.40

Q1 '04

Q3 '04

Q1 '05

Q3 '05

Q1 '06

Q3 '06

Q1 '07

2.77

2.78

2.59

2.16

1.23

1.17

1.26

1.26

1.28

1.39

1.56

1.67

1.84

2.95

2.89

2.72

2.35

1.25

1.19

1.30

1.32

1.37

1.51

1.70

1.85

2.03

0.00

0.75

1.50

2.25

3.00

Q1 '04

Q3 '04

Q1 '05

Q3 '05

Q1 '06

Q3 '06

Q1 '07

Cost of Deposits

Cost of Funds

18

Liquidity

Loans / Deposits (%)

Peer group includes BOFL, BBX, BKUNA, CCBG, SBCF and TIBB.

Peer data for the most recent quarter available.

76

90

77

99

67

96

72

99

74

100

77

107

55

65

75

85

95

105

115

2002

2003

2004

2005

2006

Q1 '07

CSFL

Peers

19

Margin Expansion & Net Interest Income Growth

Net Interest Income ($ Millions)

Net Interest Margin (%)

•

Margin was flat from Q4 ’06 to Q1 ’07

•

We have initiated incentive and other marketing plans focusing

on core deposit growth

8.26

9.58

9.64

9.62

9.60

6.00

7.00

8.00

9.00

10.00

Q1 '06

Q2 '06

Q3 '06

Q4 '06

Q1 '07

4.20

4.29

4.12

4.09

4.09

3.55

3.75

3.95

4.15

4.35

Q1 '06

Q2 '06

Q3 '06

Q4 '06

Q1 '07

20

Improving Efficiencies

Efficiency Ratio (%)

•

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

$11

million in deposits

•

We anticipate opening a branch in Hillsborough County during Q2 ’07

Deposits per Branch ($ Millions)

75

76

76

67

68

72

60

65

70

75

80

2002

2003

2004

2005

2006

Q1 '07

Branches

Opened:

3

4*

2

1

3

1

*

Pro forma for acquisition of Valrico Bancorp, Inc.

*

Freedom branches; 2 of the freedom branches were closed in 2006.

21.0

21.5

26.4

27.6

29.8

28.8

0.0

8.5

17.0

25.5

34.0

2002

2003

2004

2005

2006

Q1 '07*

21

Financial Performance

Net Income ($ Millions)

Earnings Per Share ($)

0.00

2.00

4.00

6.00

8.00

10.00

2002

2003

2004

2005

2006

Q1 '06

Q1 '07

4.37

2.63

2.37

6.33

8.46

1.81

1.81

0.00

0.21

0.42

0.63

0.84

2002

2003

2004

2005

2006

Q1 '06

Q1 '07

0.57

0.39

0.41

0.66

0.75

0.17

0.16

22

Investment Highlights

23

Investment Highlights

Market Capitalization (3/31/07):

$220 million*

Institutional Ownership:

20 %

Insider Ownership:

20 

# of Registered Shareholders:

1,112**

Free Float Shares:

Approximately 9.9 million shares

Price Performance

*Pro forma for acquisition of Valrico Bancorp, Inc. on 4/2/07.

**As reported by Transfer Agent.

S&P 500

Nasdaq Bank

Time Horizon

CSFL

Index

Index

YTD 5/16/07

(22.2)

%

6.9

%

(5.6)

%

3-Year

82.9

26.2

10.7

5-Year

91.0

23.9

40.1

3 and 5 year price performance as of March 31, 2007.

24

•

Our shareholder value is built upon our   

employees,                          earnings growth over time,

maintaining                  assets and building share in our   

•

Our long-term vision is to be a                                     

Central Florida bank known as the preeminent community

bank in our markets

•

We remain focused on                        credit underwriting

and execution of our corporate strategy

growth markets

quality

sustainable

dedicated

Building Shareholder Value

multi-billion dollar 

disciplined 

25

NASDAQ: CSFL

May 2007