CenterState Bank 8K Regulation FD Disclosure | CSFL 24 Feb 14

KBW Boston

Bank Conference

February 26, 2014

Exhibit 99.1

This

presentation

contains

forward-looking

statements,

defined

Federal

Securities

Laws,

relating

present

future

trends

factors

affecting

the

operations,

markets

and

products

CenterState

Banks,

Inc.

(CSFL).

These

statements

are

provided

assist

the

understanding

future

financial

performance.

Any

such

statements

are

based

current

expectations

and

involve

number

risks

and

uncertainties.

For

discussion

factors

that

may

cause

such

forward-looking

statements

differ

materially

from

actual

results,

please

refer

CSFL’s

most

recent

Form

10-Q

and

Form

10-K

filed

with

the

Securities

Exchange

Commission.

CSFL

undertakes

obligation

release

revisions

these

forward-looking

statements

reflect

events

circumstances

after

the

date

this

presentation.

Forward Looking Statement

Company Overview

Correspondent Banking Market

Pro forma for Gulfstream acquisition

•

Headquartered in Davenport, FL

$3.0 billion in assets

$1.9 billion in loans

$2.5 billion in deposits

•

Company formed: June 2000

1 Subsidiary Bank

Corporate Overview

CSFL –

Best Positioned Florida Consolidator

Source: SNL Financial

Data as of MRQ available

Federal Trust Acquisition from

The Hartford Insurance Company

TD Bank divesture in Putnam

Gulfstream Business Bank in Stuart

First Southern Bancorp

Ocala National Bank

Olde Cypress Community Bank

Independent National Bank of Ocala

Community National Bank of Bartow

Central Florida State Bank

First Guaranty Bank & Trust Co.

Source: Florida Realtors Monthly Market Detail (December 2013) –

Single Family Homes

Florida Real Estate –

Single Family Homes

24,000

22,000

20,000

18,000

16,000

14,000

12,000

10,000

8,000

$190K

$180K

$170K

$160K

$150K

$140K

$130K

$120K

$110K

230,000

210,000

190,000

170,000

150,000

130,000

110,000

90,000

70,000

J F M A M J J A S O N D J F M A M J

J A S O N D J F M A M J J A S O N

D J F M A M J J A S O N D J F M A

M J J A S O N D

2009

2010

2011

2012

2013

2009

2010

2011

2012

2013

J F M A M J J A S O N D J F M A M J

J A S O N D J F M A M J J A S O N

D J F M A M J J A S O N D J F M A

M J J A S O N D

J F M A M J J A S O N D J F M A M J

J A S O N D J F M A M J J A S O N

D J F M A M J J A S O N D J F M A

M J J A S O N D

Quarter

Financial

Summary

Quarter Summary of Financial Results

4Q 2013

3Q 2013

EPS

$0.06

$0.10

•

Lower loan loss provision

$183 vs. ($1,273)

•

Higher IA amortization

•

Lower bond sales

•

Loan growth

•

Resilient NIM

•

4.65% vs. 4.96%

•

Covered loan performance

•

Potential future ALLL release

•

Valuable core deposit franchise

•

Credit metrics continue to improve

Current Qtr take-aways

Non-Covered Loan Growth

Loan Production by Quarter

•

Current Qtr annualized growth 9.3%

•

YTD annualized growth 9.4%

•

Avg yld funded loans 4.25%

•

35% Resi

•

28% CRE

•

26% C&I

•

11% all other

•

Loan pipeline:

End of 4Q13: $114M

End of 3Q13: $124M

End of 2Q13: $150M

End of 1Q13: $175M

Current Quarter Loan Production

Net Income

Profitability Metrics –

6 Years

Net Interest Margin

Efficiency Ratio

Operating Efficiencies

Efficiency

Ratio

defined

follows:

[non-interest

expense

–

intangible

amortization

–

credit

expenses

–

merger

expenses

–

other

nonrecurring

expense]

[net

interest

income

(fully

tax

equivalent)

non-interest

income

–

gain

sale

AFS

securities

–

FDIC

indemnification

revenue

–

nonrecurring

income]

**Efficiency

Ratio,

excluding

Correspondent

Banking

defined

follows:

[non-interest

expense

–

Correspondent

Banking

non-

interest

expense

–

intangible

amortization

–

credit

expenses

–

merger

expenses

–

other

nonrecurring

expense]

[net

interest

income

(fully

tax

equivalent)

–

Correspondent

Banking

net

interest

income

non-interest

income

–

Correspondent

Banking

non-interest

income

–

gain

sale

AFS

securities

–

FDIC

indemnification

revenue

–

nonrecurring

income]

Efficiency and Enhanced Profitability Initiatives

Loan Portfolio

Total Loans by Type

Total Loans Detail

Loan Type

No. of

Loans

Balance

Avg Loan

Balance

Residential Real

Estate

3,798

$ 458 MM

$120,600

CRE-Owner

Occupied

743

$ 276 MM

$371,500

CRE-Non Owner

Occupied

531

$ 253 MM

$476,500

Construction,

A&D, & Land

438

$ 63 MM

$143,800

Commercial &

Industrial

1,344

$ 143 MM

$106,400

Consumer & All

Other

2,982

$ 51 MM

$17,100

Total

9,836

$ 1,244 MM

$126,500

Total Loan Portfolio as of December 31, 2013

Excluding FDIC covered assets

Non-Covered Loans

Non-Covered Loans -

Average Yields, FTE

Non-Covered Loans –

Average Balances

New Loan Production

New Loan Production –

Average Yields

^ Adjusted for accelerated accretion related to noncovered ASC

310-10 loans

Covered Loans –

Average Yields*

Covered Loans –

Average Balances*

Covered Loans

* Adjusted for measurement period adjustment.

** Excluding accelerated accretion related to ASC 310-10 loans

FDIC Indemnification Asset as of December 31, 2013

Written off over the lesser of the remaining expected life of the related loan pool(s) or the

remaining term of the related loss share agreement(s).

Indemnification Asset (“IA”) amortization and its relationship

with FDIC covered loan interest income accretion

Interest Income and Amortization Expense

Yields on Covered Loans and Indemnification Asset

8 Quarter Average =

4.93%

Credit Trends

NPAs / Loans & OREO (%)

NPA Inflows

Source: SNL Financial

Nonperforming assets include loans 90 days or more past due, nonaccrual loans, and OREO/ORA; and exclude FDIC covered assets

Southeastern peers include ABCB, PNFP, RNST, SCBT, UBSH and UCBI.

Florida peers include all banks headquartered in Florida with total assets between $500 million and $5 billion.

ALLL –

Non-Covered Loans

FAS 5 Component

Total ALLL –

Non-Covered Loans

ALLL as a % of NPLs=

73%

Deposit Portfolio

Total Deposits by Type

Total Deposits Detail

Total Deposit Portfolio as of December 31, 2013

Deposit Type

No. of

Deposits

Balance

Avg Deposit

Balance

Demand

Deposits

38,188

$ 645 MM

$16,900

Now Accounts

50,572

$ 484 MM

$9,600

Savings

Deposits

17,564

$ 233 MM

$13,300

Money Market

3,045

$ 309 MM

$101,700

Certificates of

Deposits

11,017

$ 385 MM

$34,900

Total

120,386

$ 2,056 MM

$17,100

Value of core deposits not fully

realized in this low rate environment.

Approximately 120,386 total accounts

$17,080 average balance per account

Core deposits defined as non-time deposits.

Total Deposits

Number of Deposit Accounts (000’s)

Building Franchise Value with Core Deposits

Cost of Deposits

Acquisition of

First Southern

Bancorp, Inc.

Overview of Pro Forma Franchise

(1)

Based on financial data as of December 31, 2013 excluding purchase accounting adjustments;

previously announced branch closings are excluded

(2)

Based on financial data as of November 30, 2013

Source: CSFL Management, FSOF Management

Offices:

Assets:

$4.0 billion

Deposits:

$3.4 billion

Loans:

$2.5 billion

CSFL Branches

CSFL & FSOF Branches

FSOF Branches

Branch overlap consolidation

•

Merging 6 branches

•

Closing 4 branches

•

Represents 12% of FSOF DDA

(2)

Significant Orlando and Jacksonville MSA

market share

South Florida extension

Florida

June '13

Total

Market

Deposits

Rank

Institutions

($mm)

(%)

EverBank Financial

13,743

3.19

BankUnited Inc.

8,754

2.03

Bond Street Holdings Inc.

3,594

0.83

Pro Forma

3,328

0.77

Ocean Bankshares Inc.

2,956

0.69

CenterState Banks

2,464

0.57

Capital City Bank Group Inc.

1,757

0.41

Seacoast Banking Corp. of FL

1,741

0.40

Capital Bank Finl Corp

1,680

0.39

1st United Bancorp Inc.

1,485

0.34

Stonegate Bank

1,404

0.33

First Southern Bancorp Inc.

864

0.20

Totals

431,204

100.00

Orlando MSA

June '13

Total

Market

Deposits

Rank

Institutions

($mm)

(%)

Old Florida Bancshares Inc.

1,071

2.83

Pro Forma

595

1.57

Three Shores Bancorp. Inc.

497

1.31

Villages Bancorp. Inc.

475

1.25

CNLBancshares Inc.

464

1.22

CenterState Banks

339

0.89

UniSouth Inc.

326

0.86

HomeBancorp Inc.

321

0.85

BANKshares Inc.

294

0.78

First Southern Bancorp Inc.

257

0.68

Citizens Bancorp of Oviedo Inc

202

0.53

Totals

37,888

100.00

Note: Includes banks headquartered in Florida

Deposit Data as of June 30, 2013

Source: SNL Financial LLC

largest Florida-based bank

Strengthens Presence in Key Markets

Summary of Transaction Terms

Acquiror:

CenterState Banks, Inc. (NASDAQ: CSFL)

Target:

First Southern Bancorp, Inc. (OTCQB: FSOF)

Transaction Value

(1)

$189.5 million

Consideration Mix

(1) (2)

50% Stock / 50% Cash

Consideration Per Share

(1) (2)

$6.00

Per Share Consideration:

0.3 shares of CSFL stock and $3.00 cash

Price / Tangible Book Value (%)

(1) (2) (3)

96.2%

Capital Raise:

No additional capital required to complete the

transaction

Board Seats:

None committed

Required Approvals:

Customary regulatory approval and approval of CSFL

and FSOF shareholders

Expected Closing:

Q3 2014

Note: Financial data as of December 31, 2013

(1)

Based on CSFL’s closing price of $10.00 ended January 29, 2014

(2)

Based on 31.6 million FSOF fully diluted shares outstanding and full conversion of preferred shares

(3)

Assumes reversal of deferred tax asset

Immediately Accretive to Tangible Book Value (1.4% Accretive)

Low Double-Digit EPS Accretion Fully Phased-In (2015: 10.3% Accretive)

High Teens Internal Rate of Return (19.5%)

Strong Pro Forma Capital Ratios

Transaction Impact

Financial Impact

Capital Ratios

Pro Forma

(1)

Pro Forma at Close

TCE / TA

8.7%

8.5%

Tier 1 Leverage

9.5%

9.2%

Total Risk-Based Ratio

16.4%

14.8%

(1)

Per CSFL Management (pro forma for Gulfstream merger)

Transaction Assumptions

Cost Savings:

•

46% cost savings fully phased-in

•

$16.0 million in pre-tax savings in 2015

Merger Related Expenses

(1)

•

$4.6 million after-tax

Credit mark

(2)

•

Gross credit mark to loans of $28.9

million

(3)

•

10.2% mark on covered loans

•

2.5% mark on non-covered loans

•

Gross credit mark to OREO of $8.1 million

•

25% mark to OREO

Revenue Synergies:

•

None assumed

Core Deposit Intangible:

•

1.25% of transaction accounts amortized at 150% declining

balance over 10 years

First Southern Preferred Equity:

•

Assumes conversion of First Southern’s preferred equity into

common stock prior to closing

(1)

CSFL’s merger related expenses assumed to be $4.6 million; total after-tax merger related

expenses assumed to be $11.9 million

(2)

Based on financial data at November 30, 2013

(3)

Gross credit mark on book balance

Cost

2013

Savings

($mm)

(%)

($mm)

Salaries & Benefits

$16.2

51%

$8.2

Occupancy

4.1

66%

2.7

Professional & Legal

2.2

77%

1.7

Data Processing

2.1

48%

1.0

Credit

4.5

11%

0.5

Other

5.6

34%

1.9

Total Expenses

$34.7

46%

$16.0

Cost Savings Assumptions

Comprehensive review process for First Southern’s loans and OREO portfolios

•

Credit team reviewed 82% of the dollar balance of First Southern’s loan portfolio

•

Completed due diligence on 28 banks since 2008 –

all acquired banks are outperforming their initial

marks

29% of First Southern’s portfolio is covered by loss share agreements and has already been marked

•

First Commercial purchased in January 2011 with day 1 mark of 32%

•

Haven Trust purchased in September 2010 with day 1 mark of 24%

•

CSFL is marking covered loans 10.2% ($19.3 million) and legacy loans 2.5% ($9.7 million)

Diligence Highlights

Credit Due Diligence

Note: Financial data as of November 30, 2013

Source: CSFL Management, FSOF Management

13.8%

10.6%

9.3%

8.0%

5.2%

2.8%

1.1%

1.0%

0.4%

0.0%

5.0%

10.0%

15.0%

Q4'11

Q1'12

Q2'12

Q3'12

Q4'12

Q1'13

Q2'13

Q3'13

Q4'13

Non-Covered Portfolio: NPAs / Loans + OREO

First Southern Bancorp, Inc. Highlights

Note: Data as of December 31, 2013; capital ratios assume conversion of preferred shares

Source: FSOF Management and SNL Financial LLC

Founded –

1987

Significant Excess Capital

•

16.2% TCE / TA

FDIC Acquisitions

•

Haven Trust Bank Florida

•

September 2010

•

$115 million of loans

•

Loss Share Tranches: 70% -

0% -

70%

•

First Commercial Bank of Florida

•

January 2011

•

$467 million of loans

•

Loss Share Tranches: 70% -

30% -

75%

Branches –

•

Headquarters in Boca Raton, FL

•

Branches in:

•

West Palm Beach –

Fort Lauderdale MSA

•

Orlando MSA

•

Jacksonville MSA

Company Highlights

Total Assets -

$1,093 million

Gross Loans -

$635 million

Total Deposits -

$883 million

Financial Highlights

Pro Forma Loan Composition

(1)

Pro forma for Gulfstream acquisition excluding purchase accounting adjustments

(2)

Excludes purchase accounting adjustments

Source: CSFL Management, FSOF Management

CRE

45%

C&I

14%

Resi RE

33%

C&D

Consumer

& Other

CSFL Loan Composition

MRQ CSFL Yield on Loans: 5.79%

CRE

79%

C&I

Resi RE

12%

C&D

Consumer

& Other

FSOF Loan Composition

MRQ FSOF Yield on Loans: 5.41%

CRE

54%

C&I

12%

Resi RE

28%

C&D

Consumer

& Other

Pro Forma Loan Composition

Dollars in thousands

For the period ended December 31, 2013

Pro Forma CSFL

(1)

FSOF

Pro Forma

(2)

Real Estate - Residential

$613,500

33.2

$77,826

12.2

$691,326

27.8

Real Estate - Commercial

833,185

45.0

502,095

79.0

1,335,280

53.7

Real Estate - Land, Development, & Construction

83,240

4.5

30,276

4.8

113,516

4.6

Commercial & Industrial

267,740

14.5

24,582

3.9

292,322

11.8

Consumer & Other

52,804

2.9

713

0.1

53,517

2.2

Gross Loans & Leases

$1,850,468

100.0

$635,492

100.0

$2,485,960

100.0

Pro Forma Deposit Composition

(1)

Pro forma for Gulfstream acquisition excluding purchase accounting adjustments

(2)

Excludes purchase accounting adjustments

Source: CSFL Management, FSOF Management

Non-

Interest

Bearing

DDA

32%

NOW,

Money

Market,

and

Savings

49%

Time

Deposits

19%

MRQ CSFL Cost of Deposits: 0.26%

CSFL Deposit Composition

Non-

Interest

Bearing

DDA

23%

NOW,

Money

Market,

and

Savings

49%

Time

Deposits

28%

FSOF Deposit Composition

MRQ FSOF Cost of Deposits: 0.47%

Non-

Interest

Bearing

DDA

30%

NOW,

Money

Market,

and

Savings

49%

Time

Deposits

21%

Pro Forma Deposit Composition

Dollars in thousands

For the period ended December 31, 2013

Pro Forma CSFL

(1)

FSOF

Pro Forma

(2)

Non-Interest Bearing DDA

$815,590

32.3

$204,639

23.2

$1,020,229

29.9

NOW, Money Market, and Savings

1,240,293

49.1

428,738

48.6

1,669,031

49.0

Time Deposits

469,294

18.6

249,355

28.2

718,649

21.1

Total Deposits

$2,525,178

100.0

$882,732

100.0

$3,407,910

100.0

Improving Market Demographics

17.1%

14.4%

16.4%

10.0%

12.5%

15.0%

17.5%

20.0%

CSFL

FSOF

Pro Forma

3.38%

3.59%

3.44%

3.00%

3.25%

3.50%

3.75%

CSFL

FSOF

Pro Forma

Projected Population Growth

(1)

Projected Median HHI Growth

(1)

Note: CSFL pro forma for Gulfstream acquisition; data is deposit

weighted by county as of June 30, 2013

(1)

Projected growth from 2012 –

2017

Source: SNL Financial LLC

$50,299

$56,409

$51,887

$45,000

$50,000

$55,000

$60,000

CSFL

FSOF

Pro Forma

Projected 2017 Median HHI

CSFL (52 branches)

FSOF (17 branches)

CenterState Bank (CSFL) 8-KRegulation FD Disclosure