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) August 1, 2006

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)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure

CenterState Banks of Florida, Inc. (“CSFL”) is furnishing this Current Report on Form 8-K in connection with presentations being made by management of CSFL on August 1, 2006. Attached hereto and incorporated herein as Exhibit 99.1 is the text of that presentation. This presentation contains “forward-looking statements” within the meaning of the federal securities laws. The forward-looking statements in this presentation are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among other things, the following possibilities: (i) an inability of the company to realize elements of its strategic plans for 2006 and beyond; (ii) increases in competitive pressure in the banking industry; (iii) general economic conditions, either nationally or regionally, that are less favorable than expected; (iv) changes in the interest rate environment which reduce margins; (v) management’s assumptions regarding allowance for loan losses may not be borne out by subsequent events; and (vi) changes which may occur in the regulatory environment. When used in this presentation, the words “believes,” “estimates,” “plans,” “expects,” “should,” “may,” “might,” “outlook,” and “anticipates,” and similar expressions as they related to CSFL (including its subsidiaries) or its management are intended to identify forward-looking statements. Forward-looking statements speak only as to the date they are made. CSFL does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Item 9.01 Financial Statements and Exhibits.

The following exhibit is furnished as Regulation FD Disclosure to this Current Report on Form 8-K:

(a) Exhibits:

Exhibit 99.1     Investor presentation on August 1, 2006.

2

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
	Chairman and Chief Executive Officer

Date: August 1, 2006

3

EX-99.1

NASDAQ: CSFL

August 2006

Exhibit 99.1

2

Forward Looking Statement

This presentation contains forward-looking statements, as defined by

Federal

Securities

Laws,

relating

to

present

or

future

trends

or

factors

affecting the operations, markets and products of CenterState Banks of

Florida, Inc. (CSFL).  These statements are provided to assist in the

understanding of future financial performance.  Any such statements

are

based

on

current

expectations

and

involve

a

number

of

risks

and

uncertainties.  For a discussion of factors that may cause such forward-

looking statements to differ materially from actual results, please refer

to CSFL’s

most recent Form 10-Q filed with the Securities Exchange

Commission.

CSFL undertakes no obligation to release revisions to these forward-

looking statements or reflect events or circumstances after the date of

this presentation.

3

Franchise Overview

4

Corporate Profile

•

Headquartered in Winter Haven, Florida

•

Nasdaq

Symbol: CSFL

•

•

4-bank subsidiary holding company

•

29 branch banking offices throughout growth markets in Central Florida

•

Strong balance sheet growth and earnings momentum

•

2    Qtr 2006 Highlights:

($ Millions)

Assets:

Loans:

622

Deposits:

855

Equity:

111

Company formed: June 2000

$1,029

nd

5

CSFL Branch

Branch Footprint

6

Experienced Management Team

* Includes years with predecessor bank.

Executive Management

Internal Audit / Compliance

Senior Commercial Loan Officers

Years with

Years in

Name

Title

CSFL*

Banking

Age

Ernest S. Pinner

Chairman, President & CEO

7

42

58

James J. Antal

Senior Vice President & CFO

7

23

54

George H. Carefoot

Senior Vice President & COO

16

39

62

Thomas E. White

President & CEO, CenterState Bank Central Florida

17

29

51

James S. Stalnaker, Jr.

President & CEO, CenterState Bank West Florida

17

31

51

John C. Corbett

President & CEO, CenterState Bank of Florida

7

17

37

Timothy A. Pierson

President & CEO, CenterState Bank Mid Florida

14

26

46

Years with

Years in

Name

Title

CSFL*

Banking

Age

J. Wayne Stewart

Senior Vice President & Chief Internal Auditor

6

42

60

Staff (4)

Auditor / Compliance / Loan Review

3 (Avg)

18 (Avg)

50 (Avg)

Avg

Avg

Years with

Years in

Avg

Title

CSFL*

Banking

Age

Senior Lenders (15)

5

26

49

7

Business Strategy

•

Maintain local decision making

•

Emphasize relationship banking

•

Develop a network of profitable banks in high-growth markets in

Central Florida

•

Disciplined approach to loan and deposit growth

•

Leverage our investment in our branch network

•

Continue to take advantage of merger turmoil in Florida

8

Strong Market Share

Counties of Operation

Osceola County - (Orlando MSA)

# 4 in market share (7.4%)

2nd fastest growing county in Florida

2005 - 2010 population growth of  38.8%

4 branches

Polk County - (Lakeland MSA)

# 5 in market share (5.6%)

2005 - 2010 population growth of  11.5%

12 branches

Sumter County - (The Villages MSA)

# 5 in market share (7.3%)

5th fastest growing county in Florida

2005 - 2010 population growth of  26.2%

2 branches

Pasco County - (Tampa MSA)

#8 in market share (2.1%)

12th fastest growing county in Florida

2005 - 2010 population growth of  18.9%

3 branches

Deposits

Market

Rank

Institution

($000s)

Share

Branches

1

SunTrust Banks Inc. (GA)

4,500,499

21.03

%

82

2

Bank of America Corp. (NC)

4,458,878

20.84

63

3

Wachovia Corp. (NC)

3,913,315

18.29

76

4

Colonial BancGroup Inc. (AL)

1,340,539

6.26

30

5

Regions Financial Corp. (AL)

1,002,754

4.69

38

6

Centerstate Banks of Florida (FL)

720,839

3.37

27

7

Citrus & Chemical Bancorp. (FL)

656,025

3.07

10

8

BB&T Corp. (NC)

594,930

2.78

14

9

Villages Bancorp Inc. (FL)

570,836

2.67

7

10

Alabama National BanCorp. (AL)

457,946

2.14

10

Source: SNL Financial.

Deposit data as of 6/30/05.

Market share data for Citrus, Hernando, Lake, Osceola, Pasco, Polk and Sumter Counties, Florida.

Excludes Orange County in which CSFL has $30 million in deposits and 2 branches.

9

Market Demographics

•

5 of our 8 counties rank in the top 15

fastest growing counties in Florida

2005 - 2010

Population Growth (%)

Osceola

38.79

%

Sumter

26.16

Lake

22.41

Pasco

18.86

Hernando

16.22

Orange

16.11

Citrus

12.57

Polk

11.52

CSFL Counties

Source: SNL Financial.

Population deposit weighted by county as of 6/30/05.

Southeast includes AL, AR, FL, GA, KY, LA, MS, NC, SC, TN, VA and WV.

2005 - 2010 Projected Population Growth (%)

CenterState Banks of Florida, Inc.

20.64

%

Bancshares of Florida, Inc.

16.18

Seacoast Banking Corporation of Florida

14.49

BankAtlantic Bancorp, Inc.

10.10

BankUnited Financial Corporation

9.76

Commercial Bankshares, Inc.

8.02

TIB Financial Corp.

7.99

Capital City Bank Group, Inc.

6.81

Florida

12.35

%

Southeast

8.16

United States

6.26

10

Market Demographics

Escambia

Santa Rosa

Okaloosa

Walton

Holmes

Washington

Bay

Calhoun

Gulf

Liberty

Jackson

Gadsden

Franklin

Wakulla

Leon

Jefferson

Taylor

Madison

Dixie

Lafayette

Suwannee

Hamilton

Columbia

Gilchrist

Levy

Citrus

Marion

Alachua

Union

Baker

Bradford

Clay

Duval

Nassau

St. Johns

Putnam

Flagler

Volusia

Lake

Seminole

Orange

Sumter

Hernando

Pasco

Pinellas

Hillsborough

Manatee

Sarasota

Charlotte

Lee

Collier

Monroe

Dade

Broward

Palm Beach

Hendry

Glades

Martin

St. Lucie

Okeechobee

Highlands

De Soto

Hardee

Polk

Osceola

Indian River

Brevard

Miles

0

30

60

Indicates counties in which CSFL currently has branches

High

Growth

County

(Based

on

Projected

Economic

Indicator

Change

’05-’10)

Medium Growth County

Low Growth County

11

Operating Results

12

Solid Operating Results

Quarterly Financial Performance & Condition

($ in thousands, except per share data)

Q2 '05

Q3 '05

Q4 '05

Q1 '06

Q2 '06

Operating Results:

Net Interest Income

$6,817

$7,499

$7,955

$8,264

$9,581

Net Interest Margin

3.75

%

3.88

%

4.10

%

4.13

%

4.27

%

ROAA

0.72

0.86

0.87

0.83

0.89

ROAE

9.25

7.57

7.57

7.36

7.97

Efficiency

69

65

66

68

66

Diluted Earnings per Share

0.165

0.170

0.170

0.170

0.190

Balance Sheet Data:

Assets

$830,042

$848,161

$871,521

$1,004,713

$1,028,630

Loans

487,468

504,783

516,658

599,884

621,638

Deposits

686,553

696,121

717,337

829,667

855,031

Equity

90,443

96,439

97,241

109,927

111,072

Loans / Deposits

71.0

%

72.5

%

72.0

%

72.3

%

72.7

%

Equity / Assets

10.9

11.4

11.2

10.9

10.8

Book Value per Share

$8.87

$9.19

$9.26

$9.91

$10.00

13

Loan Portfolio

•

80% of our portfolio is secured by real estate

•

96% of loans have personal guarantees

•

Our top ten relationships account for about 5.4% of loans

•

49% variable rate versus 51% fixed rate

($ Millions)

0

100

200

300

400

500

600

700

2001

2002

2003

2004

2005

Q2 '06

173

244

334

414

441

517

623

57

65

60

268

Consumer & Other

Commercial

Construction Real Estate

Commercial Real Estate

Residential Real Estate

14

Credit Quality

Net Charge –

Offs / Avg

Loans (%) &

Reserves / Loans (%)

NPAs

/ Assets (%)

0.19

0.30

0.27

0.17

0.18

0.09

0.00

0.15

0.30

0.45

0.60

2001

2002

2003

2004

2005

YTD

Nonperforming assets include assets 90 days or more past due.

YTD as of or for the six months ended 6/30/06.

0.10

0.13

0.12

0.07

0.05

0.05

1.22

1.17

1.18

1.26

1.26

1.29

0.00

0.35

0.70

1.05

1.40

2001

2002

2003

2004

2005

YTD

NCOs / Avg

Loans

Reserves / Loans

15

CDs

Money market & savings accounts

Demand -

interest bearing

Non-interest bearing deposits

Deposit Composition

•

Approximately 24% of our deposits are interest free

•

2001 –

2005 CAGR for non-interest bearing demand of 41%

($ Millions)

0

100

200

300

400

500

600

700

800

900

2001

2002

2003

2004

2005

Q2 '06

160

107

208

380

308

441

538

660

717

855

16

Low Cost Funding

Fed Funds Rate (%)

Cost of Funds (%)

2.16

1.23

1.17

1.26

1.26

1.28

1.39

1.56

1.67

1.84

2.35

1.25

1.19

1.30

1.32

1.37

1.51

1.70

1.85

2.03

0.00

0.70

1.40

2.10

2.80

Q1 '04

Q2 '04

Q3 '04

Q4 '04

Q1 '05

Q2 '05

Q3 '05

Q4 '05

Q1 '06

Q2 '06

Cost of Deposits

Cost of Funds

5.25

4.75

4.25

3.75

3.25

2.75

2.25

1.75

1.25

1.00

0.00

1.35

2.70

4.05

5.40

Q1 '04

Q2 '04

Q3 '04

Q4 '04

Q1 '05

Q2 '05

Q3 '05

Q4 '05

Q1 '06

Q2 '06

17

Liquidity

Loans / Deposits (%)

Peer group includes BOFL, BBX, BKUNA, CCBG, CLBK, SBCF and TIBB.

Peer data for the most recent quarter available.

79

91

76

88

77

98

67

95

72

98

73

99

50

60

70

80

90

100

110

2001

2002

2003

2004

2005

Q2 '06

CSFL

Peers

18

Margin Expansion & Net Interest Income Growth

Net Interest Income ($ Millions)

Net Interest Margin (%)

•

Since Q2 ’05, net interest margin has expanded 52 bps

•

Net interest income has increased 40.5% from Q2 ’05

3.75

3.88

4.10

4.13

4.27

3.55

3.75

3.95

4.15

4.35

Q2 '05

Q3 '05

Q4 '05

Q1 '06

Q2 '06

6.82

7.50

7.96

8.26

9.58

6.00

7.00

8.00

9.00

10.00

Q2 '05

Q3 '05

Q4 '05

Q1 '06

Q2 '06

19

Improving Efficiencies

Efficiency Ratio (%)

•

On average, each new full service branch breaks even at $10 -

$11

million in deposits

Deposits per Branch ($ Millions)

YTD as of or for the six months ended 6/30/06.

*

Kiosk branches.

72

75

76

76

67

67

60

65

70

75

80

2001

2002

2003

2004

2005

YTD

Branches

Opened:

2

3

4*

2

1

0

19.2

21.0

21.5

26.4

27.6

29.5

0.0

8.0

16.0

24.0

32.0

2001

2002

2003

2004

2005

Q2 '06

20

Financial Performance

Net Income ($ Millions)

Earnings Per Share ($)

Q2 ’06:

•

Net income increased 54% from Q2 ’05

•

Earnings per share increased 15% from Q2 ’05

•

Return on average assets:  0.89%

•

Return on average equity: 7.97%

0.00

1.75

3.50

5.25

7.00

2001

2002

2003

2004

2005

YTD '05

YTD '06

4.02

4.37

2.63

2.37

2.52

6.33

2.69

0.00

0.20

0.40

0.60

0.80

2001

2002

2003

2004

2005

YTD '05

YTD '06

0.360

0.57

0.39

0.41

0.45

0.66

0.315

Annual Earnings

Six Month Earnings

21

Investment Highlights

22

Investment Highlights

Market Capitalization (6/30/06):

$228 million

Institutional Ownership:

21 %

Insider Ownership:

24 

# of Registered Shareholders:

845

Free Float Shares:

Approximately 8 million shares

Price Performance

As of June 30, 2006.

S&P 500

Nasdaq Bank

Time Horizon

CSFL

Index

Index

Year-to-Date

18.8

%

1.8

%

3.8

%

1-Year

24.8

6.6

5.0

3-Year

110.3

30.3

30.0

5-Year

203.7

3.7

51.7

23

Building Shareholder Value

•

Our shareholder value is built upon the                 of our

employees, the                   of our assets and liabilities and

the                                   in which we operate

•

Our long-term vision is to be a                                     

Central Florida bank known as the preeminent community

bank in our markets

•

We remain focused on                        credit underwriting

and execution of our corporate strategy

quality

growth markets

multi-billion dollar 

disciplined 

quality

24

NASDAQ: CSFL

August 2006