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) March 27, 2013

CENTERSTATE BANKS, INC.

(Exact name of registrant as specified in charter)

Florida	000-32017	59-3606741
(State or other jurisdiction of incorporation)	(Commission file number)	(IRS employer identification no.)
42745 U.S. Highway 27, Davenport, FL		33837
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (863) 491-7750

(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, Inc. to present at the

Burton Partnership Annual Meeting

CenterState Banks, Inc. (“CSFL”) is furnishing this Current Report on Form 8-K in connection with a presentation being made by management at the Burton Partnership Annual Meeting on March 27, 2013. Attached hereto and incorporated herein as Exhibits 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 2013 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 The Burton Partnership Annual Meeting, March 27, 2013 Investor Presentation

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, INC.
By:	/s/ James J. Antal
	James J. Antal
	Senior Vice President and Chief Financial Officer

Date: March 27, 2013

3

EX-99.1

The Burton Partnership

Annual Meeting

March 27, 2013

Ernie Pinner

Chairman & CEO

CenterState Banks, Inc. Holding Company

John Corbett

President & CEO

CenterState Bank of Florida, N.A.

Exhibit 99.1

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,

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 and Form 10-K 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.

Forward Looking Statement

2

2

Company Overview

Correspondent Banking Market

Data as of  12/31/12

•

Headquartered in Davenport, FL

$2.4 billion in assets

$1.4 billion in loans

$2.0 billion in deposits

•

Company formed:  June 2000

1 Subsidiary Bank

Corporate Overview

4

•

CAPITAL -

Total Risk-Based Capital Ratio –

17.9%

•

LIQUIDITY -

Loans / Assets -

61%

•

LOANS WITH THIRD PARTY PROTECTION –

25%

21%

of loans are covered by loss sharing agreements with the FDIC

4%

subject to “Put Back”

agreement with TD Bank ending January 20, 2013

•

ASSETS WITH THIRD PARTY PROTECTION –

36%

*

36% -

Backed by the United States

2% -

subject to “Put Back”

agreement with TD Bank ending January 20, 2013

•

LOW CONCENTRATION LEVELS

**

CRE at 107%

of capital  vs. 300% guidance

CD&L at 14%

of capital vs. 100% guidance

*  Includes cash and cash equivalents, AFS securities issued by U.S. Government Sponsored Entities, FDIC

covered assets, and FHLB and FRB stock.

**Excludes FDIC covered loans

Conservative

Balance

Sheet

as

of

December

31,

2012

5

TCE Ratio –

9.6%

Ocala National Bank

Olde Cypress Community Bank

Independent National Bank of Ocala

Community National Bank of Bartow

Central Florida State Bank

First Guaranty Bank & Trust Co.

TD Bank divesture in Putnam

Federal Trust Acquisition from           

The Hartford Insurance Company

Opportunistic through the Crisis

Non –

FDIC Acquisitions

FDIC Acquisitions

New Fee-Based Business Lines

Strategic Expansion & Management Lift-Outs

Correspondent Banking Division

Prepaid Card Division

Wealth Management Division

Trust Department

Vero Beach

Okeechobee

Jacksonville

6

7

One Year -

2012

Five Year -

2007 to 1012

Price Change %

Florida is on the Mend

Housing is now a Tailwind

9

Single Family Inventory

Months Supply of Inventory

•

Median single family home prices are up 14% from last year

•

Pending home sales are up 31% from last year

•

Median days on the market are down 17% from last year

Source:

Florida

Realtors

Yearly

and

Monthly

Market

Detail

–

December

2012

Single

Family Homes

NPA Inflows –

Slowing Down

10

Excluding FDIC covered assets

NPAs / Loans & OREO (%)

Problem Loan Trends

Source:

SNL

Financial

and

Company

filings.

Peer

information

updated

quarterly

Nonperforming assets include 90 days or more past due.

Southeastern peers include ABCB, BTFG, PNFP, RNST, SCBT, UBSH and UCBI.

Florida peers include all banks headquartered in Florida , opened no later than  12/31/2005 and  total assets

between $500 million and $5 billion.

14

Credit Quality Trends -

Improving

11

New Loan Production

Loan

Trends

as

of

December

31,

2012

12

Excluding FDIC covered assets

Core Earnings on the Rise

Net Income

1. Pre-tax pre-provision  income  (“PTPP”) is a non-GAAP measure that if defined as income (loss) before income tax excluding

provision for loan losses, gain on sale of available for sale securities, income from FDIC loan pool impairment, OREO indemnification

income

from

FDIC,

other

credit

related

costs

including

losses

on

repossessed

real

estate

and

other

assets,

other

foreclosure

related

expenses., and non-recurring items.

Profitability Metrics

14

Pre-Tax Pre-Provision Income¹

•

Value of core deposits not fully realized in this low rate environment.

•

Approximately

120,213

total

accounts

-

$16,614

average

balance

per

account

Core deposits defined as non-time deposits.

Total Deposits

Number of Deposit Accounts

9

DDA and NOW

12/31/11

12/31/12

Change

% Change

Balance

$767MM

$972MM

$205MM

27%

No. of Accounts

74,528

85,070

10,542

14%

Building Franchise Value with Core Deposits

15

11

Branch Consolidation –

15  ( 11 FDIC / 4 Legacy)

Reduction in Force -

85

Data Processing Conversions –

Complete July 2012

Merger of Subsidiaries –

Complete June 2012

Focus on Efficiency and Core Earnings -

2012

16

10

Efficiency Ratio

Operating Efficiencies

*

Efficiency

Ratio

is

defined

as

follows:

[non-interest

expense

–

intangible

amortization

–

credit

related

expenses

–

merger

related

expenses

–

other

nonrecurring

expense]

/

[net

interest

income

(fully

tax

equivalent)

+

non-interest

income

–

gain

on

sale

of

AFS

securities

–

FDIC

indemnification

revenue

–

nonrecurring

income]

**Efficiency

Ratio,

excluding

Correspondent

Banking

is

defined

as

follows:

[non-interest

expense

–

Correspondent

Banking

non-

interest

expense

–

intangible

amortization

–

credit

related

expenses

–

merger

related

expenses

–

other

nonrecurring

expense]

/

[net

interest

income

(fully

tax

equivalent)

–

Correspondent

Banking

net

interest

income

+

non-interest

income

–

Correspondent

Banking

non-interest

income

–

gain

on

sale

of

AFS

securities

–

FDIC

indemnification

revenue

–

nonrecurring

income]

17

Banking Consolidation

Source: SNL Financial

Legacy CSFL Branch

First Guaranty Bank (FDIC)

Central FL State Bank (FDIC)

Three FDIC Acquisitions (3Q 2010)

Federal Trust Acquisition (Nov 2011)

TD Branch Acquisition (Jan 2011)

Jacksonville

Recent M&A Transactions

19

17

42%

Source:  SNL Financial

Data as of 12/31/12 or MRQ

Banks with Texas Ratio over 200%

20

18

CSFL Advantages

•

CSFL is one of only five major

exchange traded banks

headquartered in FL with assets

between $1 billion and $10 billion

•

Proven experience through 8

successful acquisitions in the past 3

years

•

Disproportionate number of sellers

versus very few buyers

•

The number of small, distressed

Florida institutions remains high

CSFL –

Best Positioned Florida Consolidator

Source:  SNL Financial

Data as of MRQ available

21

•

Lifetime local bankers with common lineage

•

Florida economy improving

•

CSFL metrics improving with better performance anticipated

•

Best positioned consolidator in the state

Summary

22

Appendix

Total Risk-Based & Tier 1 Leverage

22

•

Two successful capital raises in 2009 and 2010 totaling $114 million

•

First publicly traded bank in Florida to successfully complete a capital raise during financial crisis in 2009

•

Over

50

“Blue

Chip”

active

institutional

investors

–

Average

daily

volume

(3m)

approximates

46,000

shares

•

Institutions committed to capitalize additional FDIC accretive transactions

Capital

24

Total Loans by Type

Total Loans Detail

Loan Type

No. of 

Loans

Balance

Avg Loan

Balance

Residential Real

Estate

4,021

$ 429 MM

$106,700

CRE-Owner

Occupied

721

$ 264 MM

$366,200

CRE-Non Owner

Occupied

477

$ 216 MM

$452,800

Construction,

A&D, & Land

434

$ 56 MM

$129,000

Commercial &

Industrial

1,205

$ 124 MM

$102,900

Consumer & All

Other

2,774

$ 51 MM

$18,400

Total

9,632

$ 1,140 MM

$118,400

Total

Loan

Portfolio

as

of

December

31,

2012

25

Excluding FDIC covered assets

Commercial Real Estate by Type ($MM)

Construction Loans by Type ($MM)

25

C&D concentration –

14% vs. 100%

•

55% Owner Occupied

CRE concentration –

107% vs. 300%

CRE

Concentrations

as

of

December

31,

2012

Excluding FDIC covered assets

26

Total  Deposits by Type

Total Deposits Detail

23

Total

Deposit

Portfolio

as

of

December

31,

2012

Deposit Type

No. of 

Deposits

Balance

Avg Deposit

Balance

Demand

Deposits

37,741

$ 520 MM

$13,800

Now Accounts

47,329

$ 453 MM

$9,600

Savings

Deposits

18,217

$ 238 MM

$13,000

Money Market

3,334

$ 311 MM

$93,400

Certificates of

Deposits

13,592

$ 475 MM

$35,000

Total

120,213

$ 1,997 MM

$16,600

27

Covered Loans -

Average Yields

Covered Loans –

Average Balances

Non-Covered Loans –

Average Balance

Loans –

Yields and Averages

Non-Covered Loans –

Average Yields

*    Adjusted for measurement period adjustment.

^    Adjusted for non-accrual loan upgrades

^^  Adjusted for excess cash flows relating to one  noncovered loan pool

and a put back loan adjustment

28

8

Costs of Deposits

Yield on Interest Earning Assets

Net Interest Margin

(excluding Correspondent Division)

Net Interest Margin

29

30

($ in thousands)

4Q11

1Q12

2Q12

3Q12

4Q12

Average FDIC covered loans

$167,512

$316,421

$347,191

$327,847

$309,502

Interest accretion

$2,873

$5,265

$6,480

$5,796

$6,001

Yield

6.80%

6.69%

7.51%

7.03%

7.71%

IA accretion (amortization) included in

non interest income

($699)

($537)

($348)

($671)

($1,540)

Interest accretion less IA amortization

$2,174

$4,728

$6,132

$5,125

$4,461

Yield, including IA amortization

5.15%

6.01%

7.10%

6.22%

5.73%

Average IA balance

$52,231

$92,384

$133,503

$127,376

$120,580

Yield, including IA balances

3.93%

4.65%

5.13%

4.48%

4.13%

Indemnification Asset (“IA”) amortization and its

effect on FDIC covered loan interest accretion

IA –

negative accretion

30

Non-Performing Loans ($M)

•

$7,645M

•

OREO & Repos are carried at 42% of Unpaid

Principal Balance

Data as of  6/30/12

OREO & Repo ($M)

•

$25,741M (2.26% of Gross Loans)

•

NPLs are carried at 77% of Unpaid Principal Balance

•

Current NPLs at 36%

NPA

Breakout

as

of

December

31,

2012

31

Excluding FDIC covered assets

Net Charge-Offs (NCOs)

Loan Loss Provision (LLP)

Excludes FDIC covered loans

Total Credit Costs

•

Provision expense trending downward

•

Net charge-offs trending downward

•

Total credit cost trending downward

Credit Cost

32