Merger • Financial Services

SouthState Acquires CenterState Bank

On June 10, 2020, SouthState acquired financial services company CenterState Bank

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

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M&A Deal Summary

Date June 10, 2020
Target CenterState Bank
Sector Financial Services
Buyer(s) SouthState
Deal Type Merger

Target Company

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 Overview 1

Buyer

SouthState

Winter Haven, Florida, United States

Category Company
Founded 1933
Sector Financial Services
Employees6,405
Revenue 1.7B USD (2024)
DESCRIPTION

SouthState 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. SouthState was founded in 1933 and is based in Winter Haven, Florida.


Deal Context for Buyer #
Overall 2 of 4
Sector: Financial Services 2 of 4
Type: Merger 2 of 3
State: Florida 1 of 1
Country: United States 2 of 4
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
2021-07-23 Atlantic Capital

Atlanta, Georgia, United States

Atlantic Capital is a commercial bank focused on serving middle market corporations, emerging growth businesses, mid-sized real estate developers and investors and the principals of these businesses. Atlantic Capital was founded in 2006 and is based in Atlanta, Georgia.

Buy $542M