8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) February 5, 2004

CENTERSTATE BANKS OF FLORIDA, INC.

(Exact name of registrant as specified in charter)

Florida	333-95087	59-3606741
(State or other jurisdiction of incorporation)	(Commission file number)	(IRS employer identification no.)

1101 First Street South, Suite 202, Winter Haven, FL	33880
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (863) 293-2600

Not Applicable

(Former name or former address, if changed since last report)

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(a) Financial Statements of Business Acquired:    None.

(b) Pro Forma Financial Information:    None

(c) Exhibits:    None

Item 12. Other Events and Required F.D. Disclosure

On February 5, 2004, CenterState Banks of Florida, Inc. issued a press release announcing certain financial results and additional information. A copy of the press release is furnish with this Form 8-K.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CENTERSTATE BANKS OF FLORIDA, INC.
By:	/s/ Ernest S. Pinner
	Ernest S. Pinner
	President and Chief Executive Officer

Date: February 5, 2004

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EX-99

Exhibit 99

FOR IMMEDIATE RELEASE

February 5, 2004

CenterState Banks of Florida, Inc. Announces

2003 Operating Results

WINTER HAVEN, FL. – February 5, 2004 — CenterState Banks of Florida, Inc. (NASDAQ SYMBOL: CSFL) reported operating results for the year ending December 31, 2003. During the year, total assets grew by 23%, or $114.1 million, to $608.9 million. Loans increased by 24%, or $80.2 million, to $413.9 million, and deposits increased 22%, or $96.7 million, to $538.2 million. Ernest S. Pinner, President and CEO, stated that most of this growth came from existing branches. The only new branches opened during 2003, were four “mini branches” located in gated “active adult” communities that catered to the local residents. As a group, these four mini branches accounted for approximately $7.8 million of the loan growth and $7.4 million of the deposit growth.

The Company earned $2,626,000 or $0.77 per share during 2003 compared to $2,369,000 or $0.82 per share during 2002. All per share data is presented on a diluted basis. Mr. Pinner further stated that the board of directors declared the first quarter dividend of 2004 to be $0.06 per share payable on March 31, 2004 to all shareholders of record on March 15, 2004.

Condensed Consolidated Balance Sheets (unaudited)

Amounts in thousands of dollars	12/31/03			12/31/02
Cash and due from banks		24,843			22,740
Fed funds and money market		46,216			61,302
Investments		95,357			51,799
Loans		413,898			333,721
Allowance for loan losses		(4,850	)		(4,055	)
Other assets		33,432			29,293
TOTAL ASSETS	$	608,896		$	494,800
Deposits		538,235			441,462
Other borrowings		27,465			10,005
Other liabilities		1,233			3,418
Stockholders’ equity		41,963			39,915
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	608,896		$	494,800

Condensed Consolidated Income Statements (unaudited)

Amounts in thousands of dollars (except per share data)	2003			2002
Net interest income		18,270			14,156
Provision for loan losses		(1,243	)		(644	)
Net interest income after loan loss provision		17,027			13,512
Non interest income		4,687			3,660
Non interest expense		(17,547	)		(13,397	)
Income before income tax		4,167			3,775
Income tax expense		(1,541	)		(1,406	)
NET INCOME	$	2,626		$	2,369
EPS (basic)	$	0.78		$	0.84
EPS (diluted)	$	0.77		$	0.82

Mr. Pinner further reported the Company entered into an agreement to sell its two Lake County branches to a Lake County bank. These branches are part of the CNB/Pasco bank, which is currently operating in five counties. Divesting itself of its Lake County branches, the Pasco bank intends to concentrate its efforts in Pasco, Hernando and Citrus Counties, where they have had more successful growth rates. The sale is expected to close during the first quarter of 2004. The sale will include approximately $21.4 million of loans, $23.9 million of deposits, the real estate and all the fixed assets. All of the staff of the two branches will become employees of the acquiring bank. The Company will realize a gain on the sale during the first quarter of 2004.

CenterState Banks of Florida, Inc. is a multi bank holding company which operates through four wholly owned subsidiary banks with twenty-one full service locations and four mini-locations in eight counties throughout Central Florida. The Company’s four subsidiary banks include First National Bank of Osceola County, Community National Bank of Pasco County, First National Bank of Polk County, and CenterState Bank of Florida.

The Company’s stock is listed on the NASDAQ national market under the symbol CSFL. Request for information regarding the purchase or sale of the common stock can be addressed to Advest, Inc., Allen C. Ewing & Co., or Ryan Beck & Co. For additional information contact James J. Antal, CFO, at 863-293-2600.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Some of the statements in this report constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. These statements related to future events, other future financial performance or business strategies, and may be identified by terminology such as “may,” “will,” “should,” “expects,” “scheduled,” “plans,” “intends”, “anticipates,” “believes,” “estimates,” “potential,” or “continue” or the negative of such terms or other comparable terminology. Actual events or results may differ materially. In evaluating these statements, you should specifically consider the factors described throughout this report. We cannot be assured that future results, levels of activity, performance or goals will be achieved.

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