M&A Deal Summary

South State Acquires CenterState Bank

On June 10, 2020, South State acquired financial services company CenterState Bank

Acquisition Highlights
  • This is South State’s 2nd transaction in the Financial Services sector.
  • This is South State’s 2nd transaction in the United States.
  • This is South State’s 1st transaction in Florida.

M&A Deal Summary
Date 2020-06-10
Target CenterState Bank
Sector Financial Services
Buyer(s) South State
Deal Type Merger

Target

CenterState Bank

Winter Haven, Florida, United States
CenterState Bank is a provider of consumer and commercial banking services to individuals, businesses, and industries. CenterState Bank was established in 1999 and is based in Davenport, Florida.

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Buyer(S) 1

Buyer

South State

Winter Haven, Florida, United States
Category Company
Founded 1933
Sector Financial Services
Employees5,179
Revenue 1.7B USD (2023)
DESCRIPTION

South State is a holding company of South State Bank, and serves the financial needs of its local communities in 25 South Carolina counties, 15 Georgia counties and 4 North Carolina counties. South State was founded in 1933 and is based in Winter Haven, Florida.

DEAL STATS #
Overall 2 of 3
Sector (Financial Services) 2 of 3
Type (Merger) 2 of 2
State (Florida) 1 of 1
Country (United States) 2 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-15 Park Sterling

Charlotte, North Carolina, United States

Park Sterling Corporation, the holding company for Park Sterling Bank. Park Sterling, a regional, community-focused financial services company with approximately $2.3 billion in assets, is the largest community bank in the Charlotte area and has 53 banking offices stretching across the Carolinas and into North Georgia as well as a loan production office in the Greater Richmond region.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-20 Independent Bank

McKinney, Texas, United States

Independent Bank provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals, and individuals. Independent Bank was founded in 2002 and is based in McKinney, Texas.

Buy $2.0B
Mergr

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