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) July 26, 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 July 26, 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/ James J. Antal
	James J. Antal
	Senior Vice President and
	Chief Financial Officer

Date: July 26, 2004

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EX-99

Exhibit 99

FOR IMMEDIATE RELEASE

July 26, 2004

CenterState Banks of Florida, Inc. Announces

Second Quarter 2004 Operating Results and Declaration of Third Quarter Dividend

WINTER HAVEN, FL. – July 26, 2004 — CenterState Banks of Florida, Inc. (NASDAQ SYMBOL: CSFL) reported net income of $808,000, or $0.23 per share, for the quarter ended June 30, 2004, compared to $679,000, or $0.20 per share for the same quarter last year.

The Company reported net income of $2,561,000, or $0.73 per share, for the six month period ending June 30, 2004, compared to $1,206,000, or $0.35 per share, for the same period last year. Included in the current period’s earnings, was a $1,844,000 ($1,150,000 after tax of $694,000) gain on the sale of two Lake County (Florida) branches. The branch sale included approximately $21 million of loans, $24 million of deposits and all of the related fixed assets (book value of approximately $1.6 million). Excluding the gain on the sale of the branches, net income would have been approximately $1,411,000, or $0.40 per share, compared to $1,206,000, or $0.35 per share for the same period last year. All per share amounts are expressed on a diluted basis.

Condensed consolidated income statements (unaudited) for the three month and six month periods ending June 30, 2004 and 2003 are presented below.

Condensed Consolidated Income Statements (unaudited)

Amounts in thousands of dollars (except per share data)

	Three months ended June 30,						Six months ended June 30,
	2004			2003			2004			2003
Net interest income	$	5,097		$	4,468		$	10,002		$	8,716
Provision for loan losses		(240	)		(286	)		(675	)		(588	)
Net interest income after loan loss provision		4,857			4,182			9,327			8,128
Non interest income		1,247			1,173			4,325			2,349
Non interest expense		(4,824	)		(4,262	)		(9,580	)		(8,548	)
Income before income tax		1,280			1,093			4,072			1,929
Income tax expense		(472	)		(414	)		(1,511	)		(723	)
NET INCOME	$	808		$	679		$	2,561		$	1,206
EPS (basic)	$	0.23		$	0.20		$	0.75		$	0.36
EPS (diluted)	$	0.23		$	0.20		$	0.73		$	0.35
Excluding sale of branches
Net income (pro forma)							$	1,411		$	1,206
EPS (basic) (pro forma)							$	0.41		$	0.36
EPS (diluted) (pro forma)							$	0.40		$	0.35

Reconciliation between Net Income and Pro Forma Net Income (i.e. excluding branch sale)

(Six month period ending June 30, 2004) Amounts in thousands of dollars, except per share data				per share basic			per share diluted
Net Income	$	2,561		$	0.75		$	0.73
Gain on sale of branches, net of tax of $694, or $0.20 per share, basic and diluted		(1,150	)	$	(0.34	)	$	(0.33	)
Pro Forma Net Income	$	1,411		$	0.41		$	0.40

Condensed consolidated balance sheets (unaudited) at June 30, 2004 and December 31, 2003, are presented below.

Condensed Consolidated Balance Sheets (unaudited)

Amounts in thousands of dollars

	06/30/04			12/31/03
Cash and due from banks		27,545			24,843
Fed funds and money market		43,643			46,216
Investments		151,261			95,357
Loans		423,645			413,898
Allowance for loan losses		(5,347	)		(4,850	)
Other assets		35,569			33,432
TOTAL ASSETS	$	676,316		$	608,896
Deposits		580,165			538,235
Other borrowings		38,408			27,465
Other liabilities		1,551			1,233
Minority interest		120			—
Stockholders’ equity		56,072			41,963
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	676,316		$	608,896

The Company paid a quarterly dividend of $0.06 per share on June 30, 2004 to all shareholders of record on June 15, 2004. The Company declared a quarterly dividend of $0.06 per share to be paid on September 30, 2004 to all shareholders of record on September 15, 2004.

CenterState Banks of Florida, Inc. is a multi bank holding company which operates through four wholly owned subsidiary banks with 25 locations in seven 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. (866-273-6661), FIG Partners, LLC (866-344-2657)., or Ryan Beck & Co. (800-793-7226). 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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