![]() Investor Presentation First Quarter 2011 Exhibit 99.1 |
![]() 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, 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 and Form 10-K 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. Forward Looking Statement 2 |
![]() Corporate Overview Headquartered in Davenport, FL $2.2 billion in assets $1.2 billion in loans $1.9 billion in deposits Company formed: June 2000 2 Subsidiary Banks; 59 locations 3 Correspondent Banking market |
![]() 4 2010 Initiatives Vero Beach Office Opened May 2010 $40 million in deposits $13 million in loans 1,280 new accounts Okeechobee Office Opened June 2010 $26 million in deposits 1,531 new accounts Wealth Management Joe Keating and team on board May of 2010 $109 million of new assets under management 3 FDIC Acquisitions Total assets acquired – $371MM Stable core deposits Performing to model Delayed systems conversion |
![]() 5 2011 Initiatives TD Transaction Acquired 4 branches in Putnam County, FL – January 20, 2011 Acquired $121 million in loans and $115 million in deposits $11 million bargain purchase gain Credit Protection – 2 year “Put Back” agreement with TD Bank Core Processing System Conversions All 4 Legacy Bank conversions completed 3 FDIC Banks slated for Third Quarter 2011 Evaluating Acquisition Opportunities FDIC Branch P&A – TD acquisition Whole banks |
![]() Florida Economy Slowly Recovering 6 Source: Sterne, Agee and Leach, Inc. and the US Department of Labor Home Prices Flat Unemployment Down in 1Q |
![]() Loan Portfolio (excluding FDIC Covered Loans) Total Loans by Type (%) Total Loans Detail 7 Loan Type No. of Loans 03/31/11 Balance Avg Loan Balance Residential Real Estate 3,006 $259MM $86,000 Commercial Real Estate 1,431 501MM 350,000 Construction, A&D, & Land 590 107MM 181,000 Commercial & Industrial 1,045 116MM 111,000 Consumer /Other 3,399 56MM 16,000 Total 9,471 $1,039MM $110,000 Includes $115MM of loans purchased from TD Bank which are subject to a 2 year “Put Back” option . |
![]() Credit Quality Trends NPAs / Loans & OREO (%) Credit Cycle Burn Down Problem Loan Trends ($MM) Reserves / Loans (%) 8 Source: SNL Financial Nonperforming assets include 90 days or more past due. Florida peers include publicly traded banks and thrifts headquartered in Florida. Southeastern peers include publicly traded financial institutions located in AL, AR, FL, GA, MS, NC, SC, TN VA, and WV with total assets between $2 and $5 billion. Since 12-31-07, 8.1% of the loan portfolio balance has been expensed as a write down or elevated reserves. |
![]() Non-Performing Loans Other Real Estate Owned $71,631,000 (6.89% of Gross Loans,) 29% of NPLs are current 75% of legal unpaid loan balance (net of specific reserves and partial charge-offs) $10,222,000 60% of legal unpaid loan balance at repossession date 9 Data as of 3/31/11 NonPerforming Assets (excluding FDIC Covered Assets) |
![]() Conservative Balance Sheet Total Risk-Based Capital Ratio – 18.0% at 3/31/11 Loans / Assets of 55% at 3/31/11 Approximately 24% of loans have credit protection 15% of loans are covered by loss sharing agreements with the FDIC 9% are subject to a 2 year “Put Back” agreement with TD Bank 41% of assets backed by the US Government Low Concentration Levels CRE at 139% of capital vs. 300% guidance CD&L at 34% of capital vs. 100% guidance Operating leverage yet untapped 10 |
![]() Core Deposit Focus Value of core deposits not fully realized in this low rate environment. Approximately 103,214 total accounts - $17,710 average balance per account Core deposits defined as non-time deposits. Total Deposits ($MM) Number of Deposit Accounts 11 DDA and NOW 3/31/10 3/31/11 Change % Change Balance $418MM $689MM $271MM 65% No. of Accounts 40,753 67,859 27,106 67% |
![]() Correspondent Banking Division Primary business lines Bond Sales Fed funds Safekeeping, bond accounting, and asset/liability consulting services No loan participations / holding company loan product Customer base – 520 community banks Opportunity Bank Clearing & Cash Management Talent Recruiting / M&A Division Contribution 12 ($000s, except per share) 1Q10 2Q10 3Q10 4Q10 1Q11 Net Interest Income $1,526 $1,319 $1,148 $974 $662 Non-Interest Income 6,622 7,758 12,358 7,576 4,984 Non-Interest Expense (6,164) (6,740) (9,249) (6,689) (4,978) Income Tax Expense (764) (900) (1,564) (700) (251) Net Income Impact $1,220 $1,437 $2,693 $1,161 $417 EPS Impact $0.05 $0.05 $0.09 $0.04 $0.01 |
![]() Profitability Net Income ($MM) – 5 yr history Pre-Tax Pre Provision Income & ROAA(%) 13 Net Income ($MM) – 5 quarter history |
![]() Summary Energetic & experienced local management team taking advantage of opportunities Turmoil offers significant organic growth opportunities Regulator support for continued growth strategy Increased FDIC-assisted deals coming to our market in the next 6 – 9 months Elevated temporary operating expenses due to acquisitions and conversions Unprecedented opportunities to add shareholder value 14 |