Exhibit 99.1

FOR IMMEDIATE RELEASE

January 29, 2009

CenterState Banks of Florida, Inc. Announces

Fourth Quarter 2008 Operating Results

DAVENPORT, FL. – January 29, 2009 — CenterState Banks of Florida, Inc. (NASDAQ SYMBOL: CSFL) reported net income for the fourth quarter 2008 of $81,000 compared to $1,759,000 earned in the fourth quarter of last year. Due to the preferred stock the Company issued on November 21, 2008 pursuant to the U.S. Treasury’s TARP program, the Company’s per share result for the current quarter was a loss of $0.01 per share compared to earnings of $0.14 per share in the fourth quarter of last year. The decrease was primarily due to our provision for loan losses ($2,637,000 versus $1,605,000), a one time $1,000,000 gain on the sale of bank shell which occurred in the fourth quarter of last year, and a decrease of $540,000 in our net interest income between the two quarters.

The increase in our loan loss provision was a reflection of the continued deterioration of the real estate market in Florida specifically and the overall economy in general. Although average interest earning assets between 4Q08 and 4Q07 increased slightly, it was not enough to compensate for the 39bps decrease in our net interest margin (“NIM”) between these two quarters, resulting in a decrease of $540,000 in our net interest income. The compression in the Company’s NIM was primarily due to the rapid and significant decrease in market interest rates during the current quarter. The Company’s asset/liability portfolio is slightly asset sensitive, and as such as market interest rates decrease it causes compression in the NIM. In addition to decreasing market interest rates, the Company’s non accrual loans have increased. As loans are placed on non accrual status, previously accrued interest income is reversed and no future interest is accrued until the loan becomes current, which is a contracting effect on the NIM.

Another factor which is beginning to have an effect on our NIM this quarter is our new business unit discussed below (“correspondent banking division”). As the Company begins to acquire correspondent bank deposits, it is expected that investments will become a higher percentage of interest earning assets and loans (higher yielding than investments) will become a smaller percentage. Although this shift in mix will also be a contracting effect on the Company’s NIM, the increased volume is expected to have a net increase effect on net interest income.

On an annual basis, the Company reported 2008 net income of $3,421,000 ($0.26 per share) compared to 2007 net income of $7,799,000 ($0.63 per share). Similar to the quarterly results discussed above, the primary reasons for the decrease in earnings was due to our provision for loan losses ($6,520,000 versus $2,792,000), and a decrease of $2,063,000 in our net interest income, which was the result of a 31bps decrease in our NIM, year to year.

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All per share data is presented herein on a diluted basis, unless otherwise stated. Quarterly condensed consolidated income statements (unaudited) are shown below for the periods indicated.

Quarterly Condensed Consolidated Income Statements (unaudited)

Amounts in thousands of dollars (except per share data)

For the quarter ended:	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07
Net interest income	$	10,065		$	10,376		$	10,030		$	9,814		$	10,605
Provision for loan losses		(2,637	)		(1,764	)		(1,515	)		(604	)		(1,605	)
Net interest income after loan loss provision		7,428			8,612			8,515			9,210			9,000
Non interest income		3,772			2,007			1,744			1,801			1,863
Sale of bank branch office real estate		—			—			1,483			—			—
Sale of bank shell		—			—			—			—			1,000
Non interest expense		(11,356	)		(9,613	)		(9,560	)		(9,407	)		(9,250	)
(Loss) income before income tax		(156	)		1,006			2,182			1,604			2,613
Income tax benefit (expense)		237			(245	)		(714	)		(493	)		(854	)
NET INCOME	$	81		$	761		$	1,468		$	1,111		$	1,759
(Loss) earnings per share (basic)	$	(0.01	)	$	0.06		$	0.12		$	0.09		$	0.14
(Loss) earnings per share (diluted)	$	(0.01	)	$	0.06		$	0.12		$	0.09		$	0.14
Average common shares outstanding (basic)		12,464,933			12,454,407			12,447,484			12,442,517			12,435,451
Average common shares outstanding (diluted)		12,617,383			12,590,330			12,572,067			12,581,714			12,561,155
Common shares outstanding at period end		12,474,315			12,454,407			12,454,407			12,444,407			12,436,407
Selected financial ratios (unaudited)
As of or for the quarter ended:	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07
Return on average assets (annualized)		0.03	%		0.25	%		0.48	%		0.36	%		0.58	%
Return on average equity (annualized)		0.19	%		2.03	%		3.93	%		2.97	%		4.73	%
Net interest margin (tax equivalent basis)		3.54	%		3.88	%		3.75	%		3.61	%		3.93	%
Loan / deposit ratio		89.8	%		91.3	%		88.0	%		82.9	%		86.5	%
Stockholders’ equity (to total assets)		13.4	%		12.1	%		12.2	%		12.0	%		12.2	%
Tier 1 capital (to average assets)		12.6	%		11.1	%		10.9	%		10.7	%		10.8	%
Efficiency ratio		82	%		78	%		81	%		81	%		74	%
Common equity per common share	$	12.22		$	11.96		$	11.94		$	12.05		$	11.92
Common tangible equity per common share	$	9.64		$	9.37		$	9.33		$	9.43		$	9.28

Participation in the Treasury Capital Purchase Program

On November 21, 2008, as part of the Troubled Asset Relief Program (“TARP”) Capital Purchase Program, the Company issued and sold to the U.S. Department of the Treasury (the “Treasury”), (a) 27,875 shares (the “Preferred Shares”) of the Company’s Fix Rate Cumulative Perpetual Preferred Stock, Series A, having a liquidation preference of $1,000 per share, and (b) a ten-year warrant (the “Warrant”) to purchase up to 250,825 shares of the Company’s voting common stock, par value $0.01 per share (“Common Stock”), at an exercise price of $16.67 per share.

For a detailed description of this program, what the Company agreed to do and what it received, refer to the Company’s Form 8-K filed on November 24, 2008, as well as its Form S-3 filed on December 17, 2008 and its 424B2 Prospectus filed on January 2, 2009. In summary, the Company issued 5% Cumulative Perpetual Preferred Stock along with a Warrant to purchase up to 250,825 shares of its common stock at an exercise price of $16.67 to the U.S. Department of Treasury, in exchange for $27,875,000 cash, which was received on November 21, 2008. The 5% dividends are paid quarterly and after five years the rate moves to 9% and remains at that level into perpetuity. After the initial three years, the Company is permitted to repay it at any time. In addition, it can be repaid during the initial

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three years under certain conditions. If the Company raises qualifying equity capital equal to $27,875,000 or more prior to December 31, 2009, half of the Warrant (125,412 shares) will be cancelled. The Company is restricted from increasing its cash dividend on common shares from its current level of $0.04 per quarter during the initial three years, there are certain restrictions with regard to the Company’s ability to repurchase its own common shares and lastly, there are certain restrictions which subjects the Company to certain executive compensation limitations included in the Emergency Economic Stabilization Act of 2008 (“EESA”).

This program encourages the expansion of the flow of credit to U.S. consumers and businesses on competitive terms to promote the sustained growth and vitality of the U.S. economy and the modification of residential mortgage terms as appropriate to strengthen the health of the U.S. real estate market. As such, it is the Company’s long term strategy to use this capital to support organic growth and/or acquired growth of commercial and consumer loans and deposits. In the interim, the Company is in the process of implementing a modest leverage strategy sufficient enough to neutralize the effect of the preferred dividends on net income available to common shareholders.

Correspondent banking division

The Company, through its lead bank in Winter Haven, Florida, has initiated a correspondent banking and bond sales division. The Company hired substantially all the employees of the Royal Bank of Canada’s (“RBC”) bond sales division, who were previously employees of Alabama National Bank (“ALAB”) prior to RBC’s acquisition of ALAB. The division operates out of a newly leased facility in Birmingham, Alabama. The business lines are primarily divided into three inter-related revenue generating activities. The first, and largest, revenue generator is commissions earned on fixed income security sales. The second category includes: (1) correspondent bank deposits (i.e. federal funds purchased); (2) correspondent bank checking accounts; and (3) loans to correspondent banks. The third, and smallest revenue generating category, includes fees from safe-keeping activities, bond accounting for correspondents, and asset/liability consulting related activities. The customer base includes small to medium size financial institutions primarily located in Florida, Georgia and Alabama, but will also include several other southeastern States. During the fourth quarter of 2008, the Company reported gross commission revenue on bond sales of $1,412,000. At December 31, 2008, we had $88,976,000 in deposits of correspondent banks (federal funds purchased) included in other borrowed funds in our condensed consolidated balance sheet.

Branching activity

As previously reported, on April 1, 2008, the Company sold one of its branch office buildings and simultaneously entered into an agreement to lease back the real estate for a period of one year with an option to renew the lease for an additional year. The Company will not renew the lease and will close the office on March 31, 2009. The deposit and loan accounts will be transferred to the nearest existing office. The branch currently has deposits of approximately $12 million.

The Company will also close two additional small branches effective April 15, 2009. One branch operates from a leased facility in Hernando County since it opened in August 2007. Currently it has less than $3 million in deposits. The other branch opened in October 1998 in Sumter County and currently has approximately $10 million in total deposits. The Company owns the real estate for this office, which it expects to offer for sale. The deposit and loan accounts will be transferred to other existing branches.

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After these three branches are closed, the Company’s branch network will decrease from 37 to 34. The estimated annual cost savings is expected to approximate $500,000. The Company does not expect to open any new branches during 2009.

Strong capital position

The federal bank regulatory agencies have established certain capital requirements for banks. To be considered “well capitalized” under these federal bank regulatory guidelines, the Company needed to have $62,751,000 (5%) of tier 1 regulatory capital at December 31, 2008. The Company had $157,944000 (12.6%) of tier 1 regulatory capital on this date, more than twice needed to be considered “well capitalized” by the federal bank regulatory agencies. These agencies have also set two other regulatory capital guidelines, tier 1 capital as a percentage of risk weighted assets and total regulatory capital as a percentage of risk weighted assets. The Company’s capital ratios in both of these categories also exceed the amount needed to be considered “well-capitalized” by the regulatory agencies. Common equity per common share and common tangible equity per common share at December 31, 2008 was $12.22 and $9.64, respectively. At this same date the Company’s total capital ratio and tangible capital ratio were 13.4% and 11.0%, respectively.

Loan portfolio mix, credit quality and allowance for loan losses

Management has continued to aggressively monitor credit risk and potential losses in the Company’s loan portfolio, in light of the current real estate environment in Florida. During the current quarter, the Company took a charge of $2,637,000 to loan loss provision (expense) and charged-off (net of recoveries) $1,571,000, or 0.18% of average loans outstanding during the quarter. The Company’s allowance for loan losses was $13,335,000 at December 31, 2008 compared to $12,269,000 at September 30, 2008, an increase of $1,066,000. This increase is a result of a $332,000 increase in our general loan loss allowance plus a $734,000 increase in our specific loan loss allowance. The increase in our general allowance is primarily due to changes in the loan portfolio mix, changes in our historical charge-off rates and the increase in our loan portfolio. Our specific allowance is the result of specific allowance analyses prepared for each of our impaired loans. The increase in our specific allowance is the result of the change in the mix and evaluation of impaired loans net of related charge-offs taken during the period. The allowance for loan losses as a percentage of loans outstanding was 1.49% as of December 31, 2008 compared to 1.40% as of September 30, 2008. Management believes the Company’s allowance for loan losses was adequate at December 31, 2008. However, management recognizes that many factors can adversely impact various segments of our market and customers, and therefore there is no assurance as to the amount of losses or probable losses which may develop in the future.

The table below summarizes the changes in our allowance for loan losses during the previous five quarters.

Allowance for loan losses (unaudited)

(amounts are in thousands $)

as of or for the quarter ending	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07
Allowance at beginning of period	$	12,269		$	11,599		$	11,258		$	10,828		$	9,903
Charge-offs		(1,587	)		(1,120	)		(1,185	)		(298	)		(693	)
Recoveries		16			26			11			124			13
Net charge-offs		(1,571	)		(1,094	)		(1,174	)		(174	)		(680	)
Provision for loan losses		2,637			1,764			1,515			604			1,605
Allowance at end of period	$	13,335		$	12,269		$	11,599		$	11,258		$	10,828

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Eighty-four percent (84%) of the Company’s loans are collateralized by real estate, 9% are commercial non real estate loans and the remaining 7% are consumer non real estate loans. The loans collateralized by real estate are further delineated as follows.

Residential real estate loans: These are single family home loans originated within the Company’s local market areas by employee loan officers. The Company does not use loan brokers to originate loans for its own portfolio, nor does it acquire loans outside of its own markets. The size of this portfolio is $223,290,000 representing approximately 25% of the Company’s total loans. Within this category there are approximately $2,121,000 non performing (non accrual) loans (15 loans) as of December 31, 2008.

Commercial real estate loans: This is the largest category ($434,488,000) of the Company’s loan portfolio representing approximately 49% of total loans. This category, along with commercial non real estate lending, is the Company’s primary business. There is no significant concentration by type of property in this category but there is a geographical concentration such that the properties are all located in Central Florida. The borrowers are a mix of professionals, doctors, lawyers, and other small business people. Approximately 50% of these loans is owner occupied. Within this category there are approximately $10,626,000 non performing (non accrual) loans (25 loans) as of December 31, 2008.

Construction, development and land loans: The Company has no construction or development loans with national builders. We do business with local builders and developers that have typically been long time customers. This category represents approximately 10% ($92,475,000) of the Company’s total loan portfolio. Of this amount, approximately $32,719,000 is construction loans and $59,756,000 is land development, lots, and other land loans. Approximately 29% of the construction loans are single family home construction, and 71% are commercial construction. Within the total of this category ($92,475,000) there are approximately $6,220,000 non performing (non accrual) loans (18 loans) as of December 31, 2008. Of this amount, approximately $1,638,000 relates to residential construction (4 spec single family houses), $1,448,000 relates to 18 developed residential building lots, and the remaining $3,134,000 relates to land other than developed building lots.

The table below summarizes the Company’s loan mix over the most recent five quarter ends.

Loan mix (in thousands of dollars)

At quarter ended:	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07
Real estate loans
Residential	$	223,290		$	221,546		$	211,602		$	209,591		$	209,186
Commercial		434,488			426,268			409,131			389,316			385,669
Construction, development and land loans		92,475			90,270			91,514			95,700			108,615
Total real estate loans		750,253			738,084			712,247			694,607			703,470
Commercial		80,523			78,115			78,279			77,495			78,231
Consumer and other loans		61,939			60,882			59,316			62,493			60,687
Total loans before unearned fees and costs		892,715			877,081			849,842			834,595			842,388
Unearned fees and costs		(714	)		(774	)		(784	)		(852	)		(983	)
Total loans	$	892,001		$	876,307		$	849,058		$	833,743		$	841,405

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The Company defines non performing loans as non accrual loans plus loans past due 90 days or more and still accruing interest. Non performing loans as a percentage of total loans were 2.23% at December 31, 2008, compared to 1.49% at September 30, 2008.

Non performing assets (which the Company defines as non performing loans, as defined above, plus (a) OREO (i.e. real estate acquired through foreclosure or deed in lieu of foreclosure); and (b) other repossessed assets that are not real estate), were $24,835,000 at December 31, 2008, compared to $16,343,000 at September 30, 2008. Non performing assets as a percentage of total assets was 1.86% at December 31, 2008, compared to 1.32% at September 30, 2008.

The largest component of non performing loans is non accrual loans, which as of December 31, 2008 totaled $19,863,000 (74 loans). This amount is further delineated by loan category as follows:

Non accrual loans at 12/31/08 (in thousands of dollars)	Aggregate loan amounts		% of non accrual by category		Number of loans
Residential real estate	$	2,121	11	%	15
Commercial real estate		10,626	54	%	25
Construction, development, land		6,220	31	%	18
Commercial		808	4	%	10
Consumer and other		88	—	%	6
Total	$	19,863	100	%	74

OREO at December 31, 2008 was $4,494,000, which represented nineteen single family homes ($2,539,000), seven residential lots ($668,000), four parcels of unimproved land ($498,000), four mobile homes with land ($302,000), and five commercial real estate properties ($487,000).

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The table below summarizes selected credit quality data for the periods indicated.

Selected credit quality ratios, dollars are in thousands

(unaudited)

As of or for the quarter ended:	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07
Non accrual loans	$	19,863		$	12,943		$	10,385		$	9,101		$	3,797
Past due loans 90 days or more And still accruing interest		50			155			68			2,345			277
Total non performing loans		19,913			13,098			10,453			11,446			4,074
Other real estate owned (“OREO”)		4,494			2,897			2,270			792			583
Repossessed assets other than real estate		428			348			366			236			170
Total non performing assets	$	24,835		$	16,343		$	13,089		$	12,474		$	4,827
Non performing loans as a percentage of total loans		2.23	%		1.49	%		1.23	%		1.37	%		0.48	%
Non performing assets as a percentage of total assets		1.86	%		1.32	%		1.07	%		1.00	%		0.40	%
Net charge-offs (recoveries)	$	1,571		$	1,094		$	1,174		$	174		$	680
Net charge-offs as a percentage of average loans for the period		0.18	%		0.13	%		0.14	%		0.02	%		0.08	%
Impaired loans (SFAS No. 114)	$	24,191		$	21,637		$	19,523		$	18,947		$	11,803
Non impaired loans (SFAS No. 5)		867,810			854,670			829,535			814,796			829,602
Total loans	$	892,001		$	876,307		$	849,058		$	833,743		$	841,405
Allowance for loan losses as a percentage of period end loans:
Impaired loans (SFAS No. 114)		7.44	%		4.92	%		5.97	%		6.33	%		6.88	%
Non impaired loans (SFAS No. 5)		1.33	%		1.31	%		1.26	%		1.23	%		1.21	%
Total loans		1.49	%		1.40	%		1.37	%		1.35	%		1.29	%

Deposit activity

During the current quarter, deposits increased by $34,488,000, or 3.6%, and by $21,180,000, or 2.2% during the year ended December 31, 2008. This growth occurred in non time deposits (core deposits) as reflected by the Company total time deposits as a percentage of total deposits. This ratio was 49% at December 31, 2008, compared to 51% at September 30, 2008 and compared to 55% at December 31, 2007. The tables below summarize the deposit mix over the most recent five quarter ends.

Deposit mix (in thousands of dollars)

At quarter ended:	12/31/08		9/30/08		6/30/08		3/31/08		12/31/07
Checking accounts
Non interest bearing	$	141,229	$	147,154	$	159,176	$	172,711	$	159,089
Interest bearing		143,510		137,694		147,421		148,155		135,442
Savings deposits		84,837		76,035		68,538		57,824		49,127
Money market accounts		137,530		107,545		112,163		107,496		93,076
Time deposits		486,694		490,884		477,029		518,911		535,886
Total deposits	$	993,800	$	959,312	$	964,327	$	1,005,097	$	972,620

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Presented below are condensed consolidated balance sheets and average balance sheets for the periods indicated.

Condensed Consolidated Balance Sheets (unaudited)

Amounts in thousands of dollars

At quarter ended:	12/31/2008			9/30/2008			6/30/2008			3/31/2008			12/31/2007
Cash and due from banks	$	19,702		$	32,818		$	33,784		$	36,279		$	30,293
Fed funds sold		57,850			38,411			36,671			81,585			42,155
Investments		252,080			176,085			193,449			192,773			199,434
Loans		892,001			876,307			849,058			833,743			841,405
Allowance for loan losses		(13,335	)		(12,269	)		(11,599	)		(11,258	)		(10,828	)
Premises and equipment, net		61,343			60,010			58,093			56,559			55,458
Goodwill		28,118			28,118			28,118			28,118			28,118
Core deposit intangible		3,948			4,137			4,330			4,525			4,725
Bank owned life insurance		10,115			10,020			9,990			9,823			9,728
Other assets		21,321			21,085			20,316			16,452			16,942
TOTAL ASSETS	$	1,333,143		$	1,234,722		$	1,222,140		$	1,248,599		$	1,217,430
Deposits	$	993,800		$	959,312		$	964,327		$	1,005,097		$	972,620
Other borrowings		153,683			119,228			101,348			85,505			88,146
Other liabilities		6,495			7,216			7,771			8,015			8,382
Preferred stockholders’ equity		26,787			—			—			—			—
Common stockholders’ equity		152,378			148,966			148,694			149,982			148,282
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	1,333,143		$	1,234,722		$	1,222,140		$	1,248,599		$	1,217,430
Condensed Consolidated Average Balance Sheets (unaudited)
Amounts in thousands of dollars
At quarter ended:	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07
Investments, fed funds, and other	$	262,666		$	217,338		$	253,513		$	274,165		$	245,580
Loans		889,367			861,786			838,915			834,971			840,297
Allowance for loan losses		(12,914	)		(11,759	)		(11,429	)		(10,896	)		(10,001	)
All other assets		147,961			141,707			137,878			138,754			136,860
TOTAL ASSETS	$	1,287,080		$	1,209,072		$	1,218,877		$	1,236,994		$	1,212,736
Deposits- interest bearing	$	846,550		$	803,980		$	815,623		$	826,334		$	815,691
Deposits- non interest bearing		143,385			147,255			154,769			163,515			175,364
Other borrowings		122,620			101,067			89,881			88,311			63,976
Other liabilities		6,253			7,556			8,289			8,552			10,050
Stockholders’ equity		168,272			149,214			150,315			150,282			147,655
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	1,287,080		$	1,209,072		$	1,218,877		$	1,236,994		$	1,212,736

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Non interest income and non interest expense

The table below summarizes the Company’s non interest income for the periods indicated.

Quarterly Condensed Consolidated Non Interest Income (unaudited)

Amounts in thousands of dollars

For the quarter ended:	12/31/08		9/30/08		6/30/08			3/31/08		12/31/07
Service charges on deposit accounts	$	1,255	$	1,131	$	1,018		$	1,086	$	1,187
Commissions from bond sales		1,412		—		—			—		—
Commissions from mortgage broker activities		30		7		29			21		31
Commissions from sale of mutual funds and annuities		76		145		173			109		146
Debit card and ATM fees		269		271		274			261		246
Loan related fees		108		96		91			107		103
BOLI income		95		100		97			95		87
Gain (loss) on sale of investments		426		197		(6	)		44		5
Other service charges and fees		101		60		68			78		58
Non interest income – subtotal	$	3,772	$	2,007	$	1,744		$	1,801	$	1,863
Sale of bank branch office real estate		—		—		1,483			—		—
Sale of bank shell		—		—		—			—		1,000
Total non interest income	$	3,772	$	2,007	$	3,227		$	1,801	$	2,863

The revenue category “commissions earned on bond sales” ($1,412,000) listed in the table above is new for the Company beginning in the fourth quarter of this year. This revenue source is related to the Company’s new correspondent banking division discussed above. This division is also the reason for the increase in “employee salaries and wages” category listed in our non interest expense table below.

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The table below summarizes the Company’s non interest expense for the periods indicated.

Quarterly Condensed Consolidated Non Interest Expense (unaudited)

Amounts in thousands of dollars

For the quarter ended:	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07
Employee salaries and wages	$	4,946		$	4,123		$	4,113		$	3,990		$	3,885
Employee incentive/bonus compensation		(29	)		116			287			389			98
Employee stock option expense		102			102			107			91			104
Deferred compensation expense		137			—			—			—			—
Health insurance and other employee benefits		383			376			475			509			543
Payroll taxes		325			276			279			329			262
Other employee related expenses		230			239			228			232			230
Incremental direct cost of loan origination		(192	)		(224	)		(245	)		(210	)		(225	)
Total salaries, wages and employee benefits	$	5,902		$	5,008		$	5,244		$	5,330		$	4,897
Occupancy expense		993			1,067			1,025			1,058			1,016
Depreciation of premises and equipment		778			617			606			589			604
Supplies, stationary and printing		206			164			183			190			191
Marketing expenses		447			378			261			273			302
Data processing expenses		261			265			317			298			382
Legal, auditing and other professional fees		342			335			305			263			375
Bank regulatory related expenses		579			250			217			184			147
Postage and delivery		99			90			88			90			88
ATM and debit card related expenses		190			182			183			169			168
Amortization of CDI		189			193			196			199			230
Loss on sale of repossessed real estate (“OREO”)		29			22			—			—			—
Valuation write down of repossessed real estate (“OREO”)		219			190			25			—			—
Loss (gain) on repossessed assets other than real estate		48			38			37			2			(8	)
Foreclosure and repossession related expenses		149			100			77			70			37
Internet and telephone banking		100			86			88			85			78
Operational write-offs and losses		105			39			105			43			135
Correspondent account and Federal Reserve charges		65			62			70			66			62
Conferences, seminars, education and training		37			52			63			71			45
Director fees		92			82			68			79			62
Other expenses		526			393			402			348			439
Total non interest expense	$	11,356		$	9,613		$	9,560		$	9,407		$	9,250

CenterState Banks of Florida, Inc. is a multi bank holding company which operates through four wholly owned subsidiary banks with 37 locations in nine counties throughout Central 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 obtained from James Stevens, at Keefe, Bruyette & Woods (800-221-3246), Chris Cerniglia, at Stifel Nicolaus (866-780-7926), Michael Acampora, at Raymond James (800-363-9652), or Dudley Stephens, at Burke Capital Markets (404-446-1800). For additional information contact Ernest S. Pinner, CEO, or James J. Antal, CFO, at 863-419-7750.

“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,”

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“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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