10-Q

U.S. SECURTIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

Form 10-Q

(Mark One)

x Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended September 30, 2013

¨ Transition report under Section 13 or 15(d) of the Exchange Act

For the transition period from                      to                     

Commission file number 000-32017

CENTERSTATE BANKS, INC.

(Exact Name of Registrant as Specified in Its Charter)

Florida	59-3606741
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

42745 U.S. Highway 27

Davenport, Florida 33837

(Address of Principal Executive Offices)

(863) 419-7750

(Issuer’s Telephone Number, Including Area Code)

Check whether the issuer: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days:    YES  x    NO  ¨

Check whether the registrant is a large accelerated filer, an accelerated filer, non-accelerated filer or a smaller reporting company.

Large accelerated filer	¨	Accelerated filer	x
Non-accelerated filer	¨	Smaller reporting company	¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    YES  x    NO  ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):    YES  ¨    NO  x

State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:

Common stock, par value $.01 per share	30,112,475 shares
(class)	Outstanding at October 31, 2013

CENTERSTATE BANKS, INC. AND SUBSIDIARIES

INDEX

		Page
PART I.	FINANCIAL INFORMATION
Item 1.	Financial Statements
Condensed consolidated balance sheets at September 30, 2013 (unaudited) and December  31, 2012			3
Condensed consolidated statements of earnings and comprehensive income for the three and nine months ended September 30, 2013 and 2012 (unaudited)			4
Condensed consolidated statements of changes in stockholders’ equityfor the nine months ended September 30, 2013 and 2012 (unaudited)			6
Condensed consolidated statements of cash flows for the nine months ended September  30, 2013 and 2012 (unaudited)			7
Notes to condensed consolidated financial statements (unaudited)			9
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		37
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		60
Item 4.	Controls and Procedures		60
PART II.	OTHER INFORMATION
Item 1.	Legal Proceedings		61
Item 1A.	Risk Factors		61
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		61
Item 3.	Defaults Upon Senior Securities		61
Item 4.	[Removed and Reserved]		61
Item 5.	Other Information		61
Item 6.	Exhibits		61
SIGNATURES			62
CERTIFICATIONS			63

2

CenterState Banks, Inc. and Subsidiaries

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

(in thousands of dollars, except per share data)

	September 30, 2013			December 31, 2012
ASSETS
Cash and due from banks	$	21,216		$	19,160
Federal funds sold and Federal Reserve Bank deposits		85,600			117,588
Cash and cash equivalents		106,816			136,748
Trading securities, at fair value		398			5,048
Investment securities available for sale, at fair value		456,555			425,758
Loans held for sale, at lower of cost or fair value		1,317			2,709
Loans covered by FDIC loss share agreements		242,891			296,295
Loans, excluding those covered by FDIC loss share agreements		1,215,681			1,139,568
Allowance for loan losses		(21,321	)		(26,682	)
Net Loans		1,437,251			1,409,181
Bank premises and equipment, net		97,289			97,954
Accrued interest receivable		6,206			6,100
Federal Home Loan Bank and Federal Reserve Bank stock, at cost		8,179			9,749
Goodwill		44,924			44,924
Core deposit intangible		5,196			5,944
Trust intangible		1,209			1,363
Bank owned life insurance		48,961			47,957
Other repossessed real estate owned covered by FDIC loss share agreements		21,633			26,783
Other repossessed real estate owned		4,804			6,875
FDIC indemnification asset		81,603			119,289
Deferred income tax asset, net		3,392			—
Prepaid expense and other assets		10,288			16,858
TOTAL ASSETS	$	2,336,021		$	2,363,240
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Demand - non-interest bearing	$	562,027		$	519,510
Demand - interest bearing		452,583			452,961
Savings and money market accounts		547,137			549,457
Time deposits		400,208			475,304
Total deposits		1,961,955			1,997,232
Securities sold under agreement to repurchase		22,150			18,792
Federal funds purchased		45,356			38,932
Corporate debentures		16,990			16,970
Accrued interest payable		378			579
Deferred income tax liability, net		—			1,892
Payables and accrued expenses		16,451			15,312
Total liabilities		2,063,280			2,089,709
Stockholders’ equity:
Common stock, $.01 par value: 100,000,000 shares authorized; 30,112,475 and 30,079,767 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively		301			301
Additional paid-in capital		229,478			228,952
Retained earnings		46,520			36,979
Accumulated other comprehensive (loss) income		(3,558	)		7,299
Total stockholders’ equity		272,741			273,531
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	2,336,021		$	2,363,240

See notes to the accompanying condensed consolidated financial statements

3

CenterState Banks, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (unaudited)

(in thousands of dollars, except per share data)

	Three months ended						Nine months ended
	September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012
Interest income:
Loans	$	22,963		$	20,445		$	66,188		$	61,094
Investment securities available for sale:
Taxable		2,560			2,653			7,045			9,086
Tax-exempt		362			361			1,091			1,061
Federal funds sold and other		149			149			575			444
		26,034			23,608			74,899			71,685
Interest expense:
Deposits		1,246			1,748			3,959			5,983
Securities sold under agreement to repurchase		21			23			60			68
Federal funds purchased		5			6			16			22
Federal Home Loan Bank advances and other borrowings		—			4			—			201
Corporate debentures		152			160			452			481
		1,424			1,941			4,487			6,755
Net interest income		24,610			21,667			70,412			64,930
Provision for loan losses		(1,273	)		2,425			(259	)		7,051
Net interest income after loan loss provision		25,883			19,242			70,671			57,879
Non interest income:
Income from correspondent banking and bond sales division		2,909			8,606			13,953			26,356
Other correspondent banking related revenue		862			847			2,432			2,158
Service charges on deposit accounts		2,244			1,695			6,144			4,773
Debit, prepaid, ATM and merchant card related fees		1,399			1,160			4,026			3,381
Wealth management related revenue		1,179			1,000			3,379			2,818
FDIC indemnification income		3,333			2,199			5,357			3,992
FDIC indemnification asset amortization		(3,836	)		(671	)		(9,307	)		(1,556	)
Bank owned life insurance income		327			360			1,004			1,081
Other service charges and fees		190			464			723			1,062
Net gain on sale of securities available for sale		—			675			1,038			2,003
Bargain purchase gain		—			—			—			453
Total other income		8,607			16,335			28,749			46,521

See notes to the accompanying condensed consolidated financial statements.

4

CenterState Banks, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (unaudited)

(in thousands of dollars, except per share data)

	Three months ended						Nine months ended
	September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012
Non interest expense:
Salaries, wages and employee benefits		14,345			17,706			45,819			54,217
Occupancy expense		1,924			2,246			5,758			6,788
Depreciation of premises and equipment		1,364			1,465			4,316			4,148
Supplies, stationary and printing		268			261			841			879
Marketing expenses		722			716			1,836			1,909
Data processing expense		1,026			890			2,822			2,857
Legal, audit and other professional fees		1,176			551			2,803			1,772
Core deposit intangible (CDI) amortization		246			294			749			871
Postage and delivery		266			282			818			869
ATM and debit card related expenses		435			312			1,374			830
Bank regulatory expenses		588			623			1,804			1,981
Loss on sale of repossessed real estate (“OREO”)		1,852			153			2,414			654
Valuation write down of repossessed real estate (“OREO”)		3,184			1,735			5,851			2,825
Loss on repossessed assets other than real estate		39			37			385			175
Foreclosure related expenses		680			1,919			2,260			3,979
Merger and acquisition related expenses		183			177			183			2,659
Other expenses		1,552			2,339			4,280			6,037
Total other expenses		29,850			31,706			84,313			93,450
Income before provision for income taxes		4,640			3,871			15,107			10,950
Provision for income taxes		1,531			1,229			4,664			3,281
Net income	$	3,109		$	2,642		$	10,443		$	7,669
Other comprehensive income, net of tax:
Unrealized securities holding (loss) gain, net of income taxes	$	(1,608	)	$	2,443		$	(10,219	)	$	5,172
Less: reclassified adjustments for gain included in net income, net of income taxes, of $0, $400, $254, and $754, respectively		—			(421	)[1]		(638	)[1]		(1,249	)[1]
Net unrealized (loss) gain on available for sale securities, net of income taxes		(1,608	)		2,022			(10,857	)		3,923
Total comprehensive income (loss)	$	1,501		$	4,664		$	(414	)	$	11,592
Earnings per share:
Basic	$	0.10		$	0.09		$	0.35		$	0.25
Diluted	$	0.10		$	0.09		$	0.35		$	0.25
Common shares used in the calculation of earnings per share:
Basic		30,109,728			30,077,933			30,099,509			30,072,008
Diluted		30,243,873			30,142,167			30,216,028			30,136,680

(1) Amounts are included in net gain on sale of securities available for sale in total non interest income. Provision for income taxes associated with the reclassification adjustment for the three and nine month periods ended September 30, 2013 and 2012 was $0, $400, $254 and $754, respectively.

See notes to the accompanying condensed consolidated financial statements

5

CenterState Banks, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

For the nine months ended September 30, 2013 and 2012 (unaudited)

(in thousands of dollars, except per share data)

	Number of common shares		Common stock		Additional paid in capital		Retained earnings			Accumulated Other comprehensive income (loss)			Total stockholders’ equity
Balances at January 1, 2012		30,055,499	$	301	$	228,342	$	28,277		$	5,713		$	262,633
Net income								7,669						7,669
Change in unrealized holding gain on available for sale securities, net of deferred income tax of $2,558											3,923			3,923
Dividends paid - common ($0.03 per share)								(902	)					(902	)
Stock grants issued		24,268				247								247
Stock based compensation expense						279								279
Balances at September 30, 2012		30,079,767	$	301	$	228,868	$	35,044		$	9,636		$	273,849
Balances at January 1, 2013		30,079,767	$	301	$	228,952	$	36,979		$	7,299		$	273,531
Net income								10,443						10,443
Change in unrealized holding gain on available for sale securities, net of deferred income tax of $6,818											(10,857	)		(10,857	)
Dividends paid - common ($0.03 per share)								(902	)					(902	)
Stock grants issued		32,708				300								300
Stock based compensation expense						226								226
Balances at September 30, 2013		30,112,475	$	301	$	229,478	$	46,520		$	(3,558	)	$	272,741

See notes to the accompanying condensed consolidated financial statements

6

CenterState Banks, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

(in thousands of dollars, except per share data)

	Nine months ended September 30,
	2013			2012
Cash flows from operating activities:
Net income	$	10,443		$	7,669
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses		(259	)		7,051
Depreciation of premises and equipment		4,316			4,148
Accretion of purchase accounting adjustments		(24,785	)		(18,752	)
Net amortization of investment securities		5,353			6,602
Net deferred loan origination fees		(593	)		(117	)
Gain on sale of securities available for sale		(1,038	)		(2,003	)
Trading securities revenue		(212	)		(534	)
Purchases of trading securities		(171,530	)		(272,130	)
Proceeds from sale of trading securities		176,392			272,664
Repossessed real estate owned valuation write down		5,851			2,825
Loss on sale of repossessed real estate owned		2,414			654
Repossessed assets other than real estate valuation write down		65			107
Loss on sale of repossessed assets other than real estate		320			68
Gain on sale of loans held for sale		(255	)		(172	)
Loans originated and held for sale		(15,499	)		(11,744	)
Proceeds from sale of loans held for sale		17,146			13,950
Loss (gain) on disposal of and or sale of fixed assets		6			(247	)
Impairment of bank property held for sale		—			614
Gain on disposal of bank property held for sale		(31	)		—
Deferred income taxes		1,354			2,761
Stock based compensation expense		436			478
Bank owned life insurance income		(1,004	)		(1,081	)
Bargain purchase gain from acquisition		—			(453	)
Net cash from changes in:
Net changes in accrued interest receivable, prepaid expenses, and other assets		6,600			(2,005	)
Net change in accrued interest payable, accrued expense, and other liabilities		1,028			2,988
Net cash provided by operating activities		16,518			13,341
Cash flows from investing activities:
Purchases of investment securities available for sale		(31,133	)		(71,513	)
Purchases of mortgage backed securities available for sale		(183,002	)		(99,503	)
Purchases of FHLB and FRB stock		—			(855	)
Proceeds from maturities of investment securities available for sale		165			204
Proceeds from called investment securities available for sale		8,670			75,610
Proceeds from pay-downs of mortgage backed securities available for sale		83,801			94,171
Proceeds from sales of investment securities available for sale		31,201			23,261
Proceeds from sales of mortgage backed securities available for sale		37,691			117,277
Proceeds from sales of FHLB and FRB stock		1,570			4,835
Net (increase) decrease in loans		(25,264	)		37,535
Cash received from FDIC loss sharing agreements		36,227			17,139
Purchases of premises and equipment, net		(3,670	)		(7,676	)
Proceeds from sale of repossessed real estate		22,356			17,385
Proceeds from sale of fixed assets		13			1,154
Proceeds from sale of bank property held for sale		931			—
Purchase of bank owned life insurance		—			(10,000	)
Net cash from bank acquisitions		—			81,061
Net cash provided by/(used in) investing activities		(20,444	)		280,085

See notes to the accompanying condensed consolidated financial statements.

7

CenterState Banks, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

(in thousands of dollars, except per share data)

(continued)

	Nine months ended September 30,
	2013			2012
Cash flows from financing activities:
Net decrease in deposits		(34,886	)		(338,827	)
Net increase in securities sold under agreement to repurchase		3,358			6,389
Net increase (decrease) in federal funds purchased		6,424			(8,050	)
Dividends paid		(902	)		(902	)
Net cash used in financing activities		(26,006	)		(341,390	)
Net decrease in cash and cash equivalents		(29,932	)		(47,964	)
Cash and cash equivalents, beginning of period		136,748			151,095
Cash and cash equivalents, end of period	$	106,816		$	103,131
Transfer of loans to other real estate owned	$	23,400		$	16,843
Cash paid during the period for:
Interest	$	5,059		$	8,206
Income taxes	$	1,745		$	9

See notes to the accompanying condensed consolidated financial statements.

8

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

NOTE 1: Nature of Operations and basis of presentation

Our consolidated financial statements include the accounts of CenterState Banks, Inc. (the “Parent Company,” “Company” or “CSFL”), and our wholly owned subsidiary bank, CenterState Bank of Florida, N.A. (“CenterState”), and our non bank subsidiary, R4ALL, Inc. Our subsidiary bank operates through 55 full service banking locations in 18 counties throughout Florida, providing traditional deposit and lending products and services to its commercial and retail customers. R4ALL, Inc. is a separate non bank subsidiary of CSFL. Its purpose is to purchase troubled loans from our subsidiary bank and manage their eventual disposition.

In addition, we also operate a correspondent banking and bond sales division. The division is integrated with and part of our subsidiary bank located in Winter Haven, Florida, although the majority of our bond salesmen, traders and operational personnel are physically housed in leased facilities located in Birmingham, Alabama, Atlanta, Georgia and Winston Salem, North Carolina. The business lines of this division 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 correspondent bank deposits (i.e. federal funds purchased) and correspondent bank checking account deposits. The third revenue generating category includes fees from safe-keeping activities, bond accounting services for correspondents, asset/liability consulting related activities, international wires, and other clearing and corporate checking account services. The customer base includes small to medium size financial institutions primarily located in the Southeastern United States.

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. These statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2012. In our opinion, all adjustments, consisting primarily of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods have been made. The results of operations of the three month and nine month periods ended September 30, 2013 are not necessarily indicative of the results expected for the full year.

NOTE 2: Common stock outstanding and earnings per share data

Basic earnings per share is based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share includes the weighted average number of common shares outstanding during the periods and the further dilution from stock options using the treasury method. Average stock options outstanding that were anti dilutive during the three month and nine month periods ending September 30, 2013 and 2012 were 1,040,121, 1,116,739, 1,165,761 and 1,143,888, respectively. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the periods presented.

9

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
Numerator for basic and diluted earnings per share:
Net income	$	3,109	$	2,642	$	10,443	$	7,669
Denominator:
Denominator for basic earnings per share
- weighted-average shares		30,109,728		30,077,933		30,099,509		30,072,008
Effect of dilutive securities:
Stock options and stock grants		134,145		64,234		116,519		64,672
Denominator for diluted earnings per share
- adjusted weighted-average shares		30,243,873		30,142,167		30,216,028		30,136,680
Basic earnings per share	$	0.10	$	0.09	$	0.35	$	0.25
Diluted earnings per share	$	0.10	$	0.09	$	0.35	$	0.25

NOTE 3: Fair value

Generally accepted accounting principles establish a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing and asset or liability.

The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs).

The fair values of trading securities are determined as follows: (1) for those securities that have traded prior to the date of the consolidated balance sheet but have not settled (date of sale) until after such date, the sales price is used as the fair value; and, (2) for those securities which have not traded as of the date of the consolidated balance sheet, the fair value was determined by broker price indications of similar or same securities.

10

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2). Assets and liabilities measured at fair value on a recurring basis are summarized below.

			Fair value measurements using
	Carrying value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
at September 30, 2013
Assets:
Trading securities	$	398		—	$	398		—
Available for sale securities
U.S. government sponsored entities and agencies		5		—		5		—
Mortgage backed securities		415,134		—		415,134		—
Municipal securities		41,416		—		41,416		—
Interest rate swap derivatives		712		—		712		—
Liabilities: Interest rate swap derivatives		809		—		809		—
at December 31, 2012
Assets:
Trading securities	$	5,048		—	$	5,048		—
Available for sale securities
U.S. government sponsored entities and agencies		7,546		—		7,546		—
Mortgage backed securities		373,190		—		373,190		—
Municipal securities		45,022		—		45,022		—
Interest rate swap derivatives		1,131		—		1,131		—
Liabilities:
Interest rate swap derivatives		2,014		—		2,014		—

The fair value of impaired loans with specific valuation allowance for loan losses and other real estate owned is based on recent real estate appraisals. For residential real estate impaired loans and other real estate owned, appraised values are based on the comparative sales approach. For commercial and commercial real estate impaired loans and other real estate owned, appraisers may use either a single valuation approach or a combination of approaches such as comparative sales, cost or the income approach. A significant unobservable input in the income approach is the estimated income capitalization rate for a given piece of collateral. At September 30, 2013, the range of capitalization rates utilized to determine the fair value of the underlying collateral ranged from 8% to 11%. Adjustments to appraisals may be made by the appraiser to reflect local market conditions or other economic factors and may result in changes in the fair value of a given asset over time. As such, the fair value of impaired loans and other real estate owned are considered a Level 3 in the fair value hierarchy.

11

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

Assets and liabilities measured at fair value on a non-recurring basis are summarized below.

			Fair value measurements using
	Carrying value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
at September 30, 2013
Assets:
Impaired loans
Residential real estate	$	2,896		—		—	$	2,896
Commercial real estate		6,174		—		—		6,174
Land, land development and construction		961		—		—		961
Commercial		1,310		—		—		1,310
Consumer		158		—		—		158
Other real estate owned
Residential real estate	$	18		—		—	$	18
Commercial real estate		3,664		—		—		3,664
Land, land development and construction		4,427		—		—		4,427
Bank owned real estate held for sale		1,582		—		—		1,582
at December 31, 2012
Assets:
Impaired loans
Residential real estate	$	837		—		—	$	837
Commercial real estate		8,379		—		—		8,379
Land, land development and construction		1,103		—		—		1,103
Commercial		905		—		—		905
Consumer		84		—		—		84
Other real estate owned
Residential real estate	$	582		—		—	$	582
Commercial real estate		5,933		—		—		5,933
Land, land development and construction		4,445		—		—		4,445
Bank owned real estate held for sale		2,482		—		—		2,482

Impaired loans with specific valuation allowances and/or partial charge-offs had a recorded investment of $12,083 with a valuation allowance of $584, at September 30, 2013, and a recorded investment of $11,678, with a valuation allowance of $370, at December 31, 2012. The Company recorded a provision for loan loss expense of $383 and $781on these loans during the three and nine month periods ending September 30, 2013, respectively.

Other real estate owned had a decline in fair value of $3,184 and $5,851 during the three and nine month period ending September 30, 2013, respectively, and $1,735 and $2,825 during the three and nine month period ending September 30, 2012, respectively. Changes in fair value were recorded directly to current earnings through non interest expense.

12

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

Bank owned real estate held for sale represents certain branch office buildings which the Company has closed and consolidated to other existing branches. The real estate was transferred out of the Bank Premises and Equipment category into bank owned property held for sale and included in Prepaid and Other Assets category in the Company’s Condensed Consolidated Balance Sheet during 2012. The real estate was transferred at the lower of amortized cost or fair value less estimated costs to sell. During the current year, one of the properties was sold. The net proceeds from the sale was $931 resulting in a gain on the sale of $31, which was included in other non interest income in the Company’s Condensed Consolidated Statements of Earnings and Comprehensive Income. Impairment charges recognized during the three and nine month periods ending September 30, 2013 and 2012 were $0, $0, $449 and $614, respectively.

Fair Value of Financial Instruments

The methods and assumptions, not previously presented, used to estimate fair value are described as follows:

Cash and Cash Equivalents: The carrying amounts of cash and cash equivalents approximate fair values and are classified as Level 1.

FHLB and FRB Stock: It is not practical to determine the fair value of FHLB and FRB stock due to restrictions placed on their transferability.

Loans held for sale: The fair value of loans held for sale is estimated based upon binding contracts from third party investors resulting in a Level 2 classification.

Loans, net: Fair values of loans, excluding loans held for sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price.

FDIC Indemnification Asset: It is not practical to determine the fair value of the FDIC indemnification asset due to restrictions placed on its transferability.

Accrued Interest Receivable: The carrying amount of accrued interest receivable approximates fair value and is classified as Level 3.

Deposits: The fair values disclosed for demand deposits (e.g., interest and non-interest checking, savings, and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in Level 1 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification.

13

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

Short-term Borrowings: The carrying amounts of federal funds purchased, borrowings under repurchase agreements, and other short-term borrowings, generally maturing within ninety days, approximate their fair values resulting in a Level 2 classification.

Corporate Debentures: The fair values of the Company’s corporate debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification.

Accrued Interest Payable: The carrying amount of accrued interest payable approximates fair value resulting in a Level 2 classification.

Off-balance Sheet Instruments: The fair value of off-balance-sheet items is not considered material.

The following table presents the carry amounts and estimated fair values of the Company’s financial instruments:

			Fair value measurements
at September 30, 2013	Carrying amount		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	106,816	$	106,816	$	—	$	—	$	106,816
Trading securities		398		—		398		—		398
Investment securities available for sale		456,555		—		456,555		—		456,555
FHLB and FRB stock		8,179		—		—		—		n/a
Loans held for sale		1,317		—		1,317		—		1,317
Loans, less allowance for loan losses of $21,321		1,437,251		—		—		1,438,680		1,438,680
FDIC indemnification asset		81,603		—		—		—		n/a
Interest rate swap derivatives		712		—		712		—		712
Accrued interest receivable		6,206		—		—		6,206		6,206
Financial liabilities:
Deposits- without stated maturities	$	1,561,747	$	1,561,747	$	—	$	—	$	1,561,747
Deposits- with stated maturities		400,208		—		404,692		—		404,692
Securities sold under agreement to repurchase		22,150		—		22,150		—		22,150
Federal funds purchased		45,356		—		45,356		—		45,356
Corporate debentures		16,990		—		11,011		—		11,011
Interest rate swap derivatives		809		—		809		—		809
Accrued interest payable		378		—		378		—		378

14

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

			Fair value measurements
at December 31, 2012	Carrying amount		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	136,748	$	136,748	$	—	$	—	$	136,748
Trading securities		5,048		—		5,048		—		5,048
Investment securities available for sale		425,758		—		425,758		—		425,758
FHLB and FRB stock		9,749		—		—		—		n/a
Loans held for sale		2,709		—		2,709		—		2,709
Loans, less allowance for loan losses of $26,682		1,409,181		—		—		1,324,630		1,324,630
FDIC indemnification asset		119,289		—		—		—		n/a
Interest rate swap derivatives		1,131		—		1,131		—		—
Accrued interest receivable		6,100		—		—		6,100		6,100
Financial liabilities:
Deposits- without stated maturities	$	1,521,928	$	1,521,928	$	—	$	—	$	1,521,928
Deposits- with stated maturities		475,304		—		483,220		—		483,220
Securities sold under agreement to repurchase		18,792		—		18,792		—		18,792
Federal funds purchased		38,932		—		38,932		—		38,932
Corporate debentures		16,970		—		—		8,477		8,477
Interest rate swap derivatives		2,014		—		2,014		—		2,014
Accrued interest payable		579		—		579		—		579

NOTE 4: Reportable segments

The Company’s reportable segments represent the distinct product lines the Company offers and are viewed separately for strategic planning purposes by management. The table below is a reconciliation of the reportable segment revenues, expenses, and profit to the Company’s consolidated total for the three and nine month periods ending September 30, 2013 and 2012.

Three month period ending September 30, 2013

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	25,304		$	730		$	—					$	26,034
Interest expense		(1,267	)		(5	)		(152	)					(1,424	)
Net interest income (expense)		24,037			725			(152	)					24,610
Recovery of prior loan loss provision		1,273			—			—						1,273
Non interest income		4,836			3,771			—						8,607
Non interest expense		(24,620	)		(4,377	)		(853	)					(29,850	)
Net income (loss) before taxes		5,526			119			(1,005	)					4,640
Income tax (provision) benefit		(1,867	)		(46	)		382						(1,531	)
Net income (loss)	$	3,359		$	73		($	623	)				$	3,109
Total assets	$	2,194,300		$	138,395		$	294,425		($	291,099	)	$	2,336,021

15

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

Nine month period ending September 30, 2013

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	72,777		$	2,122		$	—					$	74,899
Interest expense		(4,019	)		(16	)		(452	)					(4,487	)
Net interest income (expense)		68,758			2,106			(452	)					70,412
Recovery of prior loan loss provision		259			—			—						259
Non interest income		12,364			16,385			—						28,749
Non interest expense		(65,917	)		(15,815	)		(2,581	)					(84,313	)
Net income (loss) before taxes		15,464			2,676			(3,033	)					15,107
Income tax (provision) benefit		(4,933	)		(1,032	)		1,301						(4,664	)
Net income (loss)	$	10,531		$	1,644		($	1,732	)				$	10,443
Total assets	$	2,194,300		$	138,395		$	294,425		($	291,099	)	$	2,336,021

Three month period ending September 30, 2012

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	22,676		$	932		$	—					$	23,608
Interest expense		(1,770	)		(7	)		(164	)					(1,941	)
Net interest income		20,906			925			(164	)					21,667
Provision for loan losses		(2,425	)		—			—						(2,425	)
Non interest income		6,882			9,453			—						16,335
Non interest expense		(23,704	)		(7,235	)		(767	)					(31,706	)
Net income before taxes		1,659			3,143			(931	)					3,871
Income tax (provision) benefit		(389	)		(1,183	)		343						(1,229	)
Net income (loss)	$	1,270		$	1,960		$	(588	)				$	2,642
Total assets	$	2,206,116		$	166,231		$	295,062		$	(289,794	)	$	2,377,615

Nine month period ending September 30, 2012

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	68,518		$	3,167		$	—					$	71,685
Interest expense		(6,053	)		(22	)		(680	)					(6,755	)
Net interest income		62,465			3,145			(680	)					64,930
Provision for loan losses		(7,051	)		—			—						(7,051	)
Non interest income		18,004			28,514			3						46,521
Non interest expense		(69,011	)		(22,099	)		(2,340	)					(93,450	)
Net income before taxes		4,407			9,560			(3,017	)					10,950
Income tax (provision) benefit		(795	)		(3,598	)		1,112						(3,281	)
Net income (loss)	$	3,612		$	5,962		$	(1,905	)				$	7,669
Total assets	$	2,206,116		$	166,231		$	295,062		$	(289,794	)	$	2,377,615

16

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

Commercial and retail banking: The Company’s primary business is commercial and retail banking. Currently, the Company operates through its subsidiary bank and a non bank subsidiary, R4ALL, with 55 full service banking locations in 18 counties throughout Florida providing traditional deposit and lending products and services to its commercial and retail customers.

Correspondent banking and bond sales division: Operating as a division of our subsidiary bank, its primary revenue generating activities are as follows: 1) the first, and largest, revenue generator is commissions earned on fixed income security sales; 2) the second category includes spread income earned on correspondent bank deposits (i.e. federal funds purchased) and service fees on correspondent bank checking accounts; and, 3) the third revenue generating category, includes fees from safe-keeping activities, bond accounting services for correspondents, asset/liability consulting related activities, international wires, and other clearing and corporate checking account services. The customer base includes small to medium size financial institutions primarily located in Southeastern United States.

Corporate overhead and administration: Corporate overhead and administration is comprised primarily of compensation and benefits for certain members of management, interest on parent company debt, office occupancy and depreciation of parent company facilities, certain merger related costs and other expenses.

17

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

NOTE 5: Investment Securities Available for Sale

All of the mortgage backed securities listed below were issued by U.S. government sponsored entities and agencies, primarily Fannie Mae, Freddie Mac and Ginnie Mae, institutions which the government has affirmed its commitment to support. The fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:

	September 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Obligations of U.S. government sponsored entities and agencies	$	5	$	—	$	—	$	5
Mortgage backed securities		421,248		4,865		10,979		415,134
Municipal securities		41,094		934		612		41,416
Total	$	462,347	$	5,799	$	11,591	$	456,555

	December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Obligations of U.S. government sponsored entities and agencies	$	7,465	$	81	$	—	$	7,546
Mortgage backed securities		364,014		9,247		71		373,190
Municipal securities		42,570		2,504		52		45,022
Total	$	414,049	$	11,832	$	123	$	425,758

The cost of securities sold is determined using the specific identification method. Sales of available for sale securities were as follows:

For the nine months ended:	Sept 30, 2013		Sept 30, 2012
Proceeds	$	68,892	$	140,537
Gross gains		1,038		2,285
Gross losses		—		282

The tax provision related to these net realized gains was $400 and $754, respectively.

18

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

The fair value of available for sale securities at September 30, 2013 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.

	Fair Value		Amortized Cost
Investment securities available for sale
Due in one year or less	$	625	$	625
Due after one year through five years		1,929		1,800
Due after five years through ten years		11,594		11,335
Due after ten years through thirty years		27,273		27,339
Mortgage backed securities		415,134		421,248
	$	456,555	$	462,347

Securities pledged at September 30, 2013 and December 31, 2012 had a carrying amount (estimated fair value) of $108,871 and $108,737 respectively. These securities were pledged primarily to secure public deposits and repurchase agreements.

At September 30, 2013 and December 31, 2012, there were no holdings of securities of any one issuer, other than mortgage backed securities issued by U.S. Government sponsored entities and agencies, in an amount greater than 10% of stockholders’ equity.

The following tables show the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2013 and December 31, 2012.

	September 30, 2013
	Less than 12 months				12 months or more				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. government sponsored entities and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities		235,856		10,979		—		—		235,856		10,979
Municipal securities		11,591		612		—		—		11,591		612
Total temporarily impaired securities	$	247,447	$	11,591	$	—	$	—	$	247,447	$	11,591

	December 31, 2012
	Less than 12 months				12 months or more				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. government sponsored entities and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities		30,840		71		—		—		30,840		71
Municipal securities		2,180		52		—		—		2,180		52
Total temporarily impaired securities	$	33,020	$	123	$	—	$	—	$	33,020	$	123

19

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

At September 30, 2013, 100% of the mortgage-backed securities held by the Company were issued by U.S. government-sponsored entities and agencies, primarily Fannie Mae, Freddie Mac, and Ginnie Mae, institutions which the government has affirmed its commitment to support. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these mortgage-backed securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at September 30, 2013.

Unrealized losses on municipal securities have not been recognized into income because the issuers bonds are of high quality, and because management does not intend to sell these investments or more likely than not will not be required to sell these investments before their anticipated recovery. The fair value is expected to recover as the securities approach maturity.

NOTE 6: Loans

The following table sets forth information concerning the loan portfolio by collateral types as of the dates indicated.

	Sept 30, 2013			Dec 31, 2012
Loans not covered by FDIC loss share agreements
Real estate loans
Residential	$	449,224		$	428,554
Commercial		529,172			480,494
Land, development and construction		60,375			55,474
Total real estate		1,038,771			964,522
Commercial		126,451			124,225
Consumer and other loans (note 1)		1,259			2,732
Consumer and other loans		49,065			48,547
Loans before unearned fees and deferred cost		1,215,546			1,140,026
Net unearned fees and costs		135			(458	)
Allowance for loan losses for noncovered loans		(19,265	)		(24,033	)
Net loans not covered by FDIC loss share agreements		1,196,416			1,115,535
Loans covered by FDIC loss share agreements
Real estate loans
Residential		124,027			142,480
Commercial		109,285			134,413
Land, development and construction		5,673			13,259
Total real estate		238,985			290,152
Commercial		3,906			6,143
		242,891			296,295
Allowance for loan losses for covered loans		(2,056	)		(2,649	)
Net loans covered by FDIC loss share agreements		240,835			293,646
Total loans, net of allowance for loan losses	$	1,437,251		$	1,409,181

note 1: Consumer loans acquired pursuant to three FDIC assisted transactions of failed financial institutions during the third quarter of 2010 and two in the first quarter of 2012. These loans are not covered by an FDIC loss share agreement. The loans are being accounted for pursuant to ASC Topic 310-30.

20

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

The tables below set forth the activity in the allowance for loan losses for the periods presented.

	Loans not covered by FDIC loss share agreements			Loans covered by FDIC loss share agreements			Total
Three months ended September 30, 2013
Balance at beginning of period	$	21,800		$	2,020		$	23,820
Loans charged-off		(1,570	)		—			(1,570	)
Recoveries of loans previously charged-off		344			—			344
Net charge-offs		(1,226	)		—			(1,226	)
(Recovery) provision for loan losses		(1,309	)		36			(1,273	)
Balance at end of period	$	19,265		$	2,056		$	21,321
Nine months ended September 30, 2013
Balance at beginning of period	$	24,033		$	2,649		$	26,682
Loans charged-off		(5,404	)		(515	)		(5,919	)
Recoveries of loans previously charged-off		817			—			817
Net charge-offs		(4,587	)		(515	)		(5,102	)
(Recovery) provision for loan losses		(181	)		(78	)		(259	)
Balance at end of period	$	19,265		$	2,056		$	21,321
Three months ended September 30, 2012
Balance at beginning of period	$	23,634		$	1,549		$	25,183
Loans charged-off		(2,245	)		—			(2,245	)
Recoveries of loans previously charged-off		978			—			978
Net charge-offs		(1,267	)		—			(1,267	)
Provision for loan losses		1,652			773			2,425
Balance at end of period	$	24,019		$	2,322		$	26,341
Nine months ended September 30, 2012
Balance at beginning of period	$	27,585		$	359		$	27,944
Loans charged-off		(10,393	)		—			(10,393	)
Recoveries of loans previously charged-off		1,739			—			1,739
Net charge-offs		(8,654	)		—			(8,654	)
Provision for loan losses		5,088			1,963			7,051
Balance at end of period	$	24,019		$	2,322		$	26,341

21

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

The following tables present the activity in the allowance for loan losses for loans not covered by FDIC loss share agreements by portfolio segment for the periods presented.

	Real Estate Loans
	Residential			Commercial			Land, develop., constr.			Comm. & industrial			Consumer & other			Total
Loans not covered by FDIC loss share agreements:
Three months ended September 30, 2013
Beginning of the period	$	9,791		$	6,026		$	4,071		$	1,064		$	848		$	21,800
Charge-offs		(1,147	)		(53	)		(127	)		(53	)		(190	)		(1,570	)
Recoveries		163			42			41			22			76			344
Provision for loan losses		844			(1,431	)		(644	)		(146	)		68			(1,309	)
Balance at end of period	$	9,651		$	4,584		$	3,341		$	887		$	802		$	19,265
Nine months ended September 30, 2013
Beginning of the period	$	6,831		$	8,272		$	6,211		$	1,745		$	974		$	24,033
Charge-offs		(3,328	)		(1,127	)		(310	)		(112	)		(527	)		(5,404	)
Recoveries		396			82			161			43			135			817
Provision for loan losses		5,752			(2,643	)		(2,721	)		(789	)		220			(181	)
Balance at end of period	$	9,651		$	4,584		$	3,341		$	887		$	802		$	19,265
Three months ended September 30, 2012
Beginning of the period	$	4,860		$	8,091		$	7,868		$	1,638		$	1,177		$	23,634
Charge-offs		(1,456	)		(179	)		(385	)		(10	)		(215	)		(2,245	)
Recoveries		182			411			338			4			43			978
Provision for loan losses		1,896			263			(719	)		54			158			1,652
Balance at end of period	$	5,482		$	8,586		$	7,102		$	1,686		$	1,163		$	24,019
Nine months ended September 30, 2012
Beginning of the period	$	6,700		$	8,825		$	9,098		$	1,984		$	978		$	27,585
Charge-offs		(3,233	)		(1,758	)		(4,593	)		(71	)		(738	)		(10,393	)
Recoveries		334			834			423			15			133			1,739
Provision for loan losses		1,681			685			2,174			(242	)		790			5,088
Balance at end of period	$	5,482		$	8,586		$	7,102		$	1,686		$	1,163		$	24,019

22

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

The following tables present the activity in the allowance for loan losses for loans covered by FDIC loss share agreements by portfolio segment for the periods presented.

	Real Estate Loans
	Residential		Commercial			Land, develop., constr.			Comm. & industrial			Total
Loans covered by FDIC loss share agreements:
Three months ended September 30, 2013
Beginning of the period	$	—	$	1,577		$	130		$	313		$	2,020
Charge-offs		—		—			—			—			—
Recoveries		—		—			—			—			—
Provision for loan losses		—		(190	)		(8	)		234			36
Balance at end of period	$	—	$	1,387		$	122		$	547		$	2,056
Nine months ended September 30, 2013
Beginning of the period	$	—	$	2,335		$	—		$	314		$	2,649
Charge-offs		—		(515	)		—			—			(515	)
Recoveries		—		—			—			—			—
Provision for loan losses		—		(433	)		122			233			(78	)
Balance at end of period	$	—	$	1,387		$	122		$	547		$	2,056
Three months ended September 30, 2012
Beginning of the period	$	82	$	1,455		$	—		$	12		$	1,549
Charge-offs		—		—			—			—			—
Recoveries		—		—			—			—			—
Provision for loan losses		—		780			—			(7	)		773
Balance at end of period	$	82	$	2,235		$	—		$	5		$	2,322
Nine months ended September 30, 2012
Beginning of the period	$	82	$	223		$	40		$	14		$	359
Charge-offs		—		—			—			—			—
Recoveries		—		—			—			—			—
Provision for loan losses		—		2,012			(40	)		(9	)		1,963
Balance at end of period	$	82	$	2,235		$	—		$	5		$	2,322

23

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of September 30, 2013 and December 31, 2012. Accrued interest receivable and unearned loan fees and costs are not included in the recorded investment because they are not material.

	Real Estate Loans
As of September 30, 2013	Residential		Commercial		Land, develop., constr.		Comm. & industrial		Consumer & other		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	429	$	263	$	57	$	8	$	27	$	784
Collectively evaluated for impairment		9,222		4,321		3,284		879		775		18,481
Acquired with deteriorated credit quality		—		1,387		122		547		—		2,056
Total ending allowance balance	$	9,651	$	5,971	$	3,463	$	1,434	$	802	$	21,321
Loans:
Loans individually evaluated for impairment	$	9,054	$	27,246	$	1,391	$	1,831	$	358	$	39,880
Loans collectively evaluated for impairment		440,170		501,926		58,984		124,620		48,707		1,174,407
Loans acquired with deteriorated credit quality		124,027		109,285		5,673		3,906		1,259		244,150
Total ending loan balances	$	573,251	$	638,457	$	66,048	$	130,357	$	50,324	$	1,458,437

	Real Estate Loans
As of December 31, 2012	Residential		Commercial		Land, develop., constr.		Comm. & industrial		Consumer & other		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	610	$	277	$	107	$	1	$	27	$	1,022
Collectively evaluated for impairment		6,221		7,995		6,104		1,744		947		23,011
Acquired with deteriorated credit quality		—		2,335		—		314		—		2,649
Total ending allowance balance	$	6,831	$	10,607	$	6,211	$	2,059	$	974	$	26,682
Loans:
Loans individually evaluated for impairment	$	9,936	$	32,860	$	1,520	$	3,470	$	393	$	48,179
Loans collectively evaluated for impairment		418,618		447,634		53,954		120,755		48,154		1,089,115
Loans acquired with deteriorated credit quality		142,480		134,413		13,259		6,143		2,732		299,027
Total ending loan balance	$	571,034	$	614,907	$	68,733	$	130,368	$	51,279	$	1,436,321

24

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

The table below summarizes impaired loan data for the periods presented.

	Sept 30, 2013		Dec 31, 2012
Impaired loans with a specific valuation allowance	$	7,992	$	10,744
Impaired loans without a specific valuation allowance		31,888		37,435
Total impaired loans	$	39,880	$	48,179
Amount of allowance for loan losses allocated to impaired loans	$	784	$	1,022
Performing TDRs	$	11,604	$	8,841
Non performing TDRs, included in NPLs		4,207		5,819
Total TDRs (TDRs are required to be included in impaired loans)	$	15,811	$	14,660
Impaired loans that are not TDRs		24,069		33,519
Total impaired loans	$	39,880	$	48,179

In this current real estate environment it has become more common to restructure or modify the terms of certain loans under certain conditions (i.e. troubled debt restructure or “TDRs”). In those circumstances it may be beneficial to restructure the terms of a loan and work with the borrower for the benefit of both parties, versus forcing the property into foreclosure and having to dispose of it in an unfavorable real estate market. When we have modified the terms of a loan, we usually either reduce the monthly payment and/or interest rate for generally twelve to twenty-four months. We have not forgiven any material principal amounts on any loan modifications to date. We have approximately $15,811 of TDRs. Of this amount $11,604 are performing pursuant to their modified terms, and $4,207 are not performing and have been placed on non accrual status and included in our non performing loans (“NPLs”).

25

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

TDRs as of September 30, 2013 and December 31, 2012 quantified by loan type classified separately as accrual (performing loans) and non-accrual (non performing loans) are presented in the tables below.

As of September 30, 2013	Accruing		Non Accrual		Total
Real estate loans:
Residential	$	6,936	$	1,546	$	8,482
Commercial		3,538		2,496		6,034
Land, development, construction		429		—		429
Total real estate loans		10,903		4,042		14,945
Commercial		469		40		509
Consumer and other		232		125		357
Total TDRs	$	11,604	$	4,207	$	15,811

As of December 31, 2012	Accruing		Non-Accrual		Total
Real estate loans:
Residential	$	6,446	$	1,778	$	8,224
Commercial		1,589		3,701		5,290
Land, development, construction		202		231		433
Total real estate loans		8,237		5,710		13,947
Commercial		315		5		320
Consumer and other		289		104		393
Total TDRs	$	8,841	$	5,819	$	14,660

Our policy is to return non accrual TDR loans to accrual status when all the principal and interest amounts contractually due, pursuant to its modified terms, are brought current and future payments are reasonably assured. Our policy also considers the payment history of the borrower, but is not dependent upon a specific number of payments. The Company recorded a provision for loan loss expense of $426 and $748 and partial charge offs of $219 and $445 on the TDR loans described above during the three and nine month period ending September 30, 2013.

Loans are modified to minimize loan losses when we believe the modification will improve the borrower’s financial condition and ability to repay the loan. We typically do not forgive principal. We generally either reduce interest rates or decrease monthly payments for a temporary period of time and those reductions of cash flows are capitalized into the loan balance. We may also extend maturities, convert balloon loans to longer term amortizing loans, or vice versa, or change interest rates between variable and fixed rate. Each borrower and situation is unique and we try to accommodate the borrower and minimize the Company’s potential losses. Approximately 73% of our TDRs are current pursuant to their modified terms, and about $4,207, or approximately 27% of our total TDRs are not performing pursuant to their modified terms. There does not appear to be any significant difference in success rates with one type of concession versus another.

26

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

The following table presents loans by class modified and for which there was a payment default within twelve months following the modification during the period ending September 30, 2013 and December 31, 2012.

	Period ending				Year ending
	September 30, 2013				December 31, 2012
	Number		Recorded		Number		Recorded
	of loans		investment		of loans		investment
Residential		3	$	562		10	$	758
Commercial real estate		5		1,662		4		2,567
Land, development, construction		—		—		4		156
Commercial and Industrial		1		25		—		—
Consumer and other		1		18		1		45
Total		10	$	2,267		19	$	3,526

The Company recorded a provision for loan loss expense of $172 and $332 and partial charge offs of $59 and $176 on TDR loans that subsequently defaulted as described above during the three and nine month period ending September 30, 2013, respectively.

The following tables present loans individually evaluated for impairment by class of loans as of September 30, 2013 and December 31, 2012. The recorded investment is less than the unpaid principal balance due to partial charge-offs.

As of September 30, 2013	Unpaid principal balance		Recorded investment		Allowance for loan losses allocated
With no related allowance recorded:
Residential real estate	$	5,539	$	5,448	$	—
Commercial real estate		25,749		23,892		—
Land, development, construction		1,760		911		—
Commercial and industrial		1,728		1,631		—
Consumer, other		6		6		—
With an allowance recorded:
Residential real estate		3,910		3,606		429
Commercial real estate		3,533		3,354		263
Land, development, construction		494		480		57
Commercial and industrial		245		200		8
Consumer, other		364		352		27
Total	$	43,328	$	39,880	$	784

27

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

As of December 31, 2012	Unpaid principal balance		Recorded investment		Allowance for loan losses allocated
With no related allowance recorded:
Residential real estate	$	1,712	$	1,712	$	—
Commercial real estate		33,789		31,171		—
Land, development, construction		2,042		1,087		—
Commercial and industrial		3,556		3,465		—
With an allowance recorded:
Residential real estate		8,624		8,224		610
Commercial real estate		1,742		1,689		277
Land, development, construction		664		433		107
Commercial and industrial		5		5		1
Consumer, other		395		393		27
Total	$	52,529	$	48,179	$	1,022

Three month period ending September, 30, 2013	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	8,829	$	78	$	—
Commercial		26,960		295		—
Land, development, construction		1,436		2		—
Total real estate loans		37,225		375		—
Commercial and industrial		1,710		12		—
Consumer and other loans		351		3		—
Total	$	39,286	$	390	$	—

Nine month period ending September 30, 2013	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	9,014	$	222	$	—
Commercial		28,134		840		—
Land, development, construction		1,423		10		—
Total real estate loans		38,571		1,072		—
Commercial and industrial		1,984		28		—
Consumer and other loans		369		8		—
Total	$	40,924	$	1,108	$	—

28

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

Three month period ending September, 30, 2012	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	10,289	$	78	$	—
Commercial		29,900		285		—
Land, development, construction		2,531		4		—
Total real estate loans		42,720		367		—
Commercial and industrial		3,306		34		—
Consumer and other loans		427		3		—
Total	$	46,453	$	404	$	—

Nine month period ending September 30, 2012	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	10,131	$	215	$	—
Commercial		29,756		946		—
Land, development, construction		4,599		19		—
Total real estate loans		44,486		1,180		—
Commercial and industrial		4,432		80		—
Consumer and other loans		455		13		—
Total	$	49,373	$	1,273	$	—

Nonperforming loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans.

Nonperforming loans were as follows:	Sept 30, 2013		Dec 31, 2012
Non accrual loans	$	21,104	$	25,448
Loans past due over 90 days and still accruing interest		35		293
Total non performing loans	$	21,139	$	25,741

29

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans as of September 30, 2013 and December 31, 2012, excluding loans acquired from the FDIC with evidence of credit deterioration and covered by FDIC loss share agreements:

As of September 30, 2013	Nonaccrual		Loans past due over 90 days still accruing
Residential real estate	$	10,882	$	—
Commercial real estate		7,263		—
Land, development, construction		1,247		—
Commercial		1,290		—
Consumer, other		422		35
Total	$	21,104	$	35

As of December 31, 2012	Nonaccrual		Loans past due over 90 days still accruing
Residential real estate	$	9,993	$	—
Commercial real estate		11,459		—
Land, development, construction		2,032		—
Commercial		1,650		—
Consumer, other		314		293
Total	$	25,448	$	293

The following table presents the aging of the recorded investment in past due loans as of September 30, 2013 and December 31, 2012, excluding loans acquired from the FDIC with evidence of credit deterioration and covered by FDIC loss share agreements:

	Accruing Loans
As of September 30, 2013	Total		30 - 59 days past due		60 - 89 days past due		Greater than 90 days past due		Total Past Due		Loans Not Past Due		Nonaccrual Loans
Residential real estate	$	449,224	$	3,136	$	1,623	$	—	$	4,759	$	433,583	$	10,882
Commercial real estate		529,172		2,642		342		—		2,984		518,925		7,263
Land/dev/construction		60,375		109		618		—		727		58,401		1,247
Commercial		126,451		264		69		—		333		124,828		1,290
Consumer		50,324		209		149		35		393		49,509		422
	$	1,215,546	$	6,360	$	2,801	$	35	$	9,196	$	1,185,246	$	21,104

	Accruing Loans
As of December 31, 2012	Total		30 - 59 days past due		60 - 89 days past due		Greater than 90 days past due		Total Past Due		Loans Not Past Due		Nonaccrual Loans
Residential real estate	$	428,554	$	1,632	$	677	$	—	$	2,309	$	416,252	$	9,993
Commercial real estate		480,494		1,663		1,147		—		2,810		466,225		11,459
Land/dev/construction		55,474		115		624		—		739		52,703		2,032
Commercial		124,225		203		416		—		619		121,956		1,650
Consumer		51,279		456		489		293		1,238		49,727		314
	$	1,140,026	$	4,069	$	3,353	$	293	$	7,715		1,106,863	$	25,448

30

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

Credit Quality Indicators:

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes loans with an outstanding balance greater than $500 that are non-homogeneous loans, such as commercial, commercial real estate, land, land development and construction loans. This analysis is performed on at least an annual basis. The Company uses the following definitions for risk ratings:

Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

31

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Loans listed as not rated are either less than $500 or are included in groups of homogeneous loans. As of September 30, 2013 and December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans, excluding loans with evidence of deterioration of credit quality purchased from the FDIC and covered by FDIC loss share agreements, is as follows:

	As of September 30, 2013
Loan Category	Pass		Special Mention		Substandard		Doubtful
Residential real estate	$	420,235	$	6,511	$	22,478	$	—
Commercial real estate		435,312		59,217		34,643		—
Land/dev/construction		46,689		10,765		2,921		—
Commercial		117,529		4,825		4,097		—
Consumer		48,970		554		800		—
	$	1,068,735	$	81,872	$	64,939	$	—

	As of December 31, 2012
Loan Category	Pass		Special Mention		Substandard		Doubtful
Residential real estate	$	400,244	$	4,797	$	23,513	$	—
Commercial real estate		394,238		44,933		41,323		—
Land/dev/construction		39,650		11,994		3,830		—
Commercial		114,067		3,978		6,180		—
Consumer		49,894		613		772		—
	$	998,093	$	66,315	$	75,618	$	—

The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For residential and consumer loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in residential and consumer loans, excluding loans covered by FDIC loss share agreements, based on payment activity as of September 30, 2013:

	Residential		Consumer
Performing	$	438,342	$	49,867
Nonperforming		10,882		457
Total	$	449,224	$	50,324

Purchased Credit Impaired Loans:

Income recognized on loans we purchased from the FDIC is recognized pursuant to ASC Topic 310-30. A portion of the fair value discount has been ascribed as an accretable yield that is accreted into interest income over the estimated remaining life of the loans. The remaining non-accretable difference represents cash flows not expected to be collected.

32

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

The table below summarizes the total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the loans as of September 30, 2013 and December 31, 2012. Contractually required principal and interest payments have been adjusted for estimated prepayments.

	Sept 30, 2013			Dec 31, 2012
Contractually required principal and interest	$	416,565		$	534,989
Non-accretable difference		(71,810	)		(142,855	)
Cash flows expected to be collected		344,755			392,134
Accretable yield		(100,605	)		(93,107	)
Carrying value of acquired loans	$	244,150		$	299,027
Allowance for loan losses		(2,056	)		(2,649	)
Carrying value less allowance for loan losses	$	242,094		$	296,378

We adjusted our estimates of future expected losses, cash flows and renewal assumptions during the current quarter. These adjustments resulted in an increase in expected cash flows and accretable yield, and a decrease in the non-accretable difference. We reclassified approximately $10,894 and $30,811 from non-accretable difference to accretable yield during the three and nine month period ending September 30, 2013, respectively, to reflect our adjusted estimates of future expected cash flows. The table below summarizes the changes in total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the loans during the three and nine month period ending September 30, 2013 and 2012.

Activity during the three month period ending September 30, 2013	June 30, 2013			income accretion		all other adjustments			Sept 30, 2013
Contractually required principal and interest	$	449,146				$	(32,581	)	$	416,565
Non-accretable difference		(90,060	)				18,250			(71,810	)
Cash flows expected to be collected		359,086					(14,331	)		344,755
Accretable yield		(99,407	)		8,988		(10,186	)		(100,605	)
Carry value of acquired loans	$	259,679		$	8,988	$	(24,517	)	$	244,150

Activity during the nine month period ending September 30, 2013	Dec 31,  2012			income accretion		all other adjustments			Sept 30, 2013
Contractually required principal and interest	$	534,989				$	(118,424	)	$	416,565
Non-accretable difference		(142,855	)				71,045			(71,810	)
Cash flows expected to be collected		392,134					(47,379	)		344,755
Accretable yield		(93,107	)		24,835		(32,333	)		(100,605	)
Carry value of acquired loans	$	299,027		$	24,835	$	(79,712	)	$	244,150

33

CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

Activity during the three month period ending September 30, 2012	June 30, 2012			Effect of acquisitions		income accretion		all other adjustments			Sept 30, 2012
Contractually required principal and interest	$	594,439						$	(17,945	)	$	576,494
Non-accretable difference		(164,756	)						5,415			(159,341	)
Cash flows expected to be collected		429,683							(12,530	)		417,153
Accretable yield		(100,286	)				6,208		(11,334	)		(105,412	)
Carry value of acquired loans	$	329,397		$	—	$	6,208	$	(23,864	)	$	311,741

Activity during the nine month period ending September 30, 2012	Dec 31, 2011			Effect of acquisitions			income accretion		all other adjustments			Sept 30, 2012
Contractually required principal and interest	$	291,531		$	363,130				$	(78,167	)	$	576,494
Non-accretable difference		(51,536	)		(125,630	)				17,825			(159,341	)
Cash flows expected to be collected		239,995			237,500					(60,342	)		417,153
Accretable yield		(74,552	)		(32,975	)		17,955		(15,840	)		(105,412	)
Carry value of acquired loans	$	165,443		$	204,525		$	17,955	$	(76,182	)	$	311,741

NOTE 7: FDIC indemnification asset

The FDIC Indemnification Asset represents the estimated amounts due from the FDIC pursuant to the Loss Share Agreements related to the acquisition of the three failed banks acquired in 2010 and the acquisition of two failed banks in 2012. The activity in the FDIC loss share indemnification asset is as follows:

	Nine month period ended Sept 30, 2013			Twelve month period ended Dec 31, 2012
Beginning of the year	$	119,289		$	50,642
Effect of acquisitions		—			85,088
Amortization, net		(9,307	)		(3,096	)
Indemnification income - ORE		5,420			4,185
Indemnification of foreclosure expense		2,491			2,425
Proceeds from FDIC		(36,227	)		(21,787	)
(Recovery) impairment of loan pool		(63	)		1,832
Period end balance	$	81,603		$	119,289

Impairment of loan pools

When a loan pool (with loss share) is impaired, the impairment expense is included in provision for loan losses, and 80% of that loss is recognized as income from FDIC reimbursement, and included in this line item. During the nine month period ended September 30, 2013, the estimated amount of impairment declined, which resulted in a reversal of $63 of income previously recognized.

Indemnification Revenue

Indemnification Revenue represents approximately 80% of the cost incurred pursuant to the repossession process and losses incurred on the sale of OREO, or writedown of OREO values to current fair value. These costs are reimbursable from the FDIC.

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CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

Amortization, net

On the date of an FDIC acquisition, the Company estimates the amount and the timing of expected future losses that will be covered by the FDIC loss sharing agreements. The FDIC indemnification asset is initially recorded as the discounted value of the reimbursement of losses from the FDIC. Discount accretion is recognized over the estimated period of losses, and the Company updates its estimate of future losses and the timing of the losses each quarter. To the extent management estimates that future losses are less than initial estimate of future losses, management adjusts its estimates of future expected reimbursements and any decrease in the expected future reimbursements is amortized over the shorter of the loss share period or the life of the related loan by amortization in this line item. Based upon the most recent estimate of future losses, the Company expects less reimbursements from the FDIC and is amortizing the estimated reduction as described in the previous sentence.

Indemnification of foreclosure expense

Indemnification of foreclosure expense represents approximately 80% of the foreclosure related expenses incurred and reimbursable from the FDIC. Foreclosure expense is included in non interest expense. The amount of the reimbursable portion of the expense reduces foreclosure expense included in non interest expense.

NOTE 8: Announced acquisitions

On July 29, 2013, CenterState Banks, Inc. (“CSFL”) entered into an Agreement and Plan of Merger (“Agreement”) with Gulfstream Bancshares, Inc. (“GS” or “Gulfstream”), whereby GS will be merged with and into CSFL. Pursuant to and simultaneously with entering into the Agreement, CSFL’s wholly owned subsidiary bank, CenterState Bank of Florida, N.A. (“CSB”) and GS’s wholly owned subsidiary bank, Gulfstream Business Bank (“GSB”) entered into a Plan of Merger and Merger Agreement whereby GSB will be merged with and into CSB simultaneously with the merger of GS with and into CSFL.

At September 30, 2013, Gulfstream reported total consolidated assets of $563,644, total consolidated loans of $372,615 and total consolidated deposits of $471,287. Gulfstream is headquartered in Stuart, Florida with branch offices in St. Lucie, Jupiter, and Delray Beach, Florida.

Under the terms of the Agreement each outstanding share of GS common stock is entitled to receive 3.012 shares of CSFL common stock and a $14.65 cash payment. The Agreement has been unanimously approved by the board of directors of CSFL and GS. The transaction is expected to close early in the first quarter of 2014 subject to customary conditions, including all applicable regulatory approvals and GS shareholder approval.

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CenterState Banks, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(in thousands of dollars, except per share data)

NOTE 9: Effect of new pronouncements

In October 2012, the Financial Accounting Standards Board (“FASB”) issued guidance on the subsequent accounting for an indemnification asset recognized at the acquisition date as a result of a government assisted acquisition of a financial institution. When an entity recognizes such an indemnification asset and subsequently a change in the cash flows expected to be collected on the indemnification asset occurs as a result of a change in the cash flows expected to be collected on the indemnified asset, the guidance requires the entity to recognize the change in the measurement of the indemnification asset on the same basis as the indemnified assets. Any amortization of changes in value of the indemnification asset should be limited to the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets. The amendments are effective for fiscal years beginning on or after December 15, 2012 and early adoption is permitted. The amendments are to be applied prospectively to any new indemnification assets acquired after the date of adoption and to indemnification assets existing as of the date of adoption arising from a government-assisted acquisition of a financial institution. The impact of this amendment on the consolidated financial statements had no effect since the Company’s prior accounting for the indemnification asset was consistent with this standard.

In February 2013, the Financial Accounting Standards Board (FASB) issued updated guidance related to disclosure of reclassification amounts out of other comprehensive income. The standard requires that companies present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. The new requirements will take effect for public companies in fiscal years, and interim periods within those years, beginning after December 15, 2012. The Company adopted this standard on January 1, 2013. The effect of adopting this standard increased our disclosure surrounding reclassification items out of accumulated other comprehensive income.

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ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

All dollar amounts presented herein are in thousands, except per share data.

COMPARISON OF BALANCE SHEETS AT SEPTEMBER 30, 2013 AND DECEMBER 31, 2012

Overview

Our total assets decreased slightly between September 30, 2013 and year end 2012 primarily due to a decrease in total deposits partially offset by increases in federal funds purchased (i.e. deposits from our correspondent banks) and repurchase agreements. Our total stockholders’ equity also decreased during this nine month period due to changes in unrealized gains and losses in our available for sale securities portfolio, as a result of rising interest rates.

Our total loans, excluding loans covered by FDIC loss share agreements, increased during the nine month period by an annualized rate of approximately 8.9%, all resulting from in-market loan origination. The indemnification asset decreased $37,686 during the period due to cash payments received from the FDIC for loss reimbursements and through amortization of losses previously estimated, that are currently no longer expected to occur. These changes are discussed and analyzed below and on the following pages.

Federal funds sold and Federal Reserve Bank deposits

Federal funds sold and Federal Reserve Bank deposits were $85,600 at September 30, 2013 (approximately 3.7% of total assets) as compared to $117,588 at December 31, 2012 (approximately 5.0% of total assets). We use our available-for-sale securities portfolio, as well as federal funds sold and Federal Reserve Bank deposits for liquidity management and for investment yields. These accounts, as a group, will fluctuate as a function of loans outstanding, and to some degree the amount of correspondent bank deposits (i.e. federal funds purchased) outstanding.

Investment securities available for sale

Securities available-for-sale, consisting primarily of U.S. government sponsored enterprises and municipal tax exempt securities, were $456,555 at September 30, 2013 (approximately 19.5% of total assets) compared to $425,758 at December 31, 2012 (approximately 18.0% of total assets), an increase of $30,797 or 7.2%. We use our available-for-sale securities portfolio, as well as federal funds sold and Federal Reserve Bank deposits for liquidity management and for investment yields. These accounts, as a group, will fluctuate as a function of loans outstanding as discussed above, under the caption “Federal funds sold and Federal Reserve Bank deposits.” Our securities are carried at fair value. We classify our securities as “available-for-sale” to provide for greater flexibility to respond to changes in interest rates as well as future liquidity needs.

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Trading securities

We also have a trading securities portfolio. Realized and unrealized gains and losses are included in trading securities revenue, a component of our non interest income, in our Condensed Consolidated Statement of Earnings and Comprehensive Income. Securities purchased for this portfolio have primarily been various municipal securities. We held $398 of securities in our trading securities portfolio as of September 30, 2013. A list of the activity in this portfolio is summarized below.

	Nine month period ended Sept 30, 2013			Nine month period ended Sept 30, 2012
Beginning balance	$	5,048		$	—
Purchases		171,530			272,130
Proceeds from sales		(176,392	)		(272,664	)
Net realized gain on sales		212			534
Ending balance	$	398		$	—

Loans held for sale

We also have a loans held for sale portfolio, whereby we originate single family home loans and sell those mortgages into the secondary market, servicing released. These loans are recorded at the lower of cost or market. Gains and losses on the sale of loans held for sale are included as a component of non interest income in our Condensed Consolidated Statement of Earnings and Comprehensive Income. A list of the activity in this portfolio is summarized below.

	Nine month period ended Sept 30, 2013			Nine month period ended Sept 30, 2012
Beginning balance	$	2,709		$	3,741
Loans originated		15,499			11,744
Proceeds from sales		(17,146	)		(13,950	)
Net realized gain on sales		255			172
Ending balance	$	1,317		$	1,707

Loans

Lending-related income is the most important component of our net interest income and is a major contributor to profitability. The loan portfolio is the largest component of earning assets, and it therefore generates the largest portion of revenues. The absolute volume of loans and the volume of loans as a percentage of earning assets is an important determinant of net interest margin as loans are expected to produce higher yields than securities and other earning assets. Average loans during the nine months ended September 30, 2013, were $1,428,419, or 70.8% of average earning assets, as compared to $1,453,453, or 69.6% of average earning assets, for the nine month period ending September 30, 2012. Total loans at September 30, 2013 and December 31, 2012 were $1,458,572 and $1,435,863, respectively. This represents a loan to total asset ratio of 62.4% and 60.8% and a loan to deposit ratio of 74.3% and 71.9%, at September 30, 2013 and December 31, 2012, respectively.

Approximately 16.7% of our loans, or $242,891, are covered by FDIC loss sharing agreements. Pursuant to and subject to the terms of the loss sharing agreements, the FDIC is obligated to reimburse CenterState for 80% of losses with respect to the covered loans beginning with the first dollar of loss incurred. CenterState will reimburse the FDIC for its share of recoveries with respect to the covered loans. The loss sharing agreements applicable to single family residential mortgage loans provide for FDIC loss sharing and CenterState reimbursement to the FDIC for recoveries for ten years. The loss

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sharing agreements applicable to commercial loans provide for FDIC loss sharing for five years and CenterState reimbursement to the FDIC for a total of eight years for recoveries. All of the covered loans acquired are accounted for pursuant to ASC Topic 310-30. Within the FDIC covered loan portfolio, approximately 51% are collateralized by single family residential real estate and 45% are collateralized by commercial real estate. The remainder of our covered loans included land, land development, and non-real estate commercial loans.

Our loans that are not covered by FDIC loss sharing agreements at September 30, 2013 and December 31, 2012 were $1,215,681 and $1,139,568, respectively, an increase of $76,113, or approximately 8.9% annualized. New loan origination (funded during the quarter of origination) for the current quarter compared to the prior four quarters is presented in the table below:

	3Q13			2Q13			1Q13			4Q12			3Q12
New loan production (funded)	$	81,731		$	84,303		$	43,607		$	54,819		$	51,519
Average yield		4.35	%		4.13	%		4.27	%		4.31	%		4.40	%

Loan concentrations are considered to exist where there are amounts loaned to multiple borrowers engaged in similar activities, which collectively could be similarly impacted by economic or other conditions and when the total of such amounts would exceed 25% of total capital. Due to the lack of diversified industry and the relative proximity of markets served, the Company has concentrations in geographic as well as in types of loans funded.

Our total loans, including those with and without loss sharing agreements, total $1,458,572 at September 30, 2013. Of this amount, approximately 88% are collateralized by real estate, 9% are commercial non real estate loans and the remaining 3% are consumer and other non real estate loans. We have approximately $573,251 of single family residential loans which represents about 39% of our total loan portfolio. Our largest category of loans is commercial real estate which represents approximately 44% of our total loan portfolio.

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The following table sets forth information concerning the loan portfolio by collateral types as of the dates indicated.

	Sept 30, 2013			Dec 31, 2012
Loans not covered by FDIC loss share agreements
Real estate loans
Residential	$	449,224		$	428,554
Commercial		529,172			480,494
Land, development, construction		60,375			55,474
Total real estate		1,038,771			964,522
Commercial		126,451			124,225
Consumer and other loans (note 1)		1,259			2,732
Consumer and other		49,065			48,547
Loans before unearned fees and deferred cost		1,215,546			1,140,026
Unearned fees/costs		135			(458	)
Allowance for loan losses for non-covered loans		(19,265	)		(24,033	)
Net loans not covered by FDIC loss share agreements		1,196,416			1,115,535
Loans covered by FDIC loss share agreements
Real estate loans
Residential		124,027			142,480
Commercial		109,285			134,413
Land, development, construction		5,673			13,259
Total real estate		238,985			290,152
Commercial		3,906			6,143
		242,891			296,295
Allowance for loan losses for covered loans		(2,056	)		(2.649	)
Net loans covered by FDIC loss share agreements		240,835			293,646
Total loans, net of allowance for loan losses	$	1,437,251		$	1,409,181

note 1: Consumer loans acquired pursuant to three FDIC assisted transactions of failed financial institutions during the third quarter of 2010 and two in the first quarter of 2012. These loans are not covered by an FDIC loss share agreement. The loans are being accounted for pursuant to ASC Topic 310-30.

Credit quality and allowance for loan losses

Commercial, commercial real estate, land, land development and construction loans in excess of $500 are monitored and evaluated for impairment on an individual loan basis. Commercial, commercial real estate, land, land development and construction loans less than $500 are evaluated for impairment on a pool basis. All consumer and single family residential loans are evaluated for impairment on a pool basis.

On at least a quarterly basis, management reviews each impaired loan to determine whether it should have a specific reserve or partial charge-off. Management relies on appraisals to help make this determination. Updated appraisals are obtained for collateral dependent loans when a loan is scheduled for renewal or refinance. In addition, if the classification of the loan is downgraded to substandard, identified as impaired, or placed on non accrual status (collectively “Problem Loans”), an updated appraisal is obtained if the loan amount is greater than $500 and individually evaluated for impairment.

After an updated appraisal is obtained for a Problem Loan, as described above, an additional updated appraisal will be obtained on at least an annual basis. Thus, current appraisals for Problem Loans in excess of $500 will not be older than one year.

After the initial updated appraisal is obtained for a Problem Loan and before its next annual appraisal update is due, management considers the need for a downward adjustment to the current

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appraisal amount to reflect current market conditions, based on management’s analysis, judgment and experience. In an extremely volatile market, management may update the appraisal prior to the one year anniversary date.

We maintain an allowance for loan losses that we believe is adequate to absorb probable losses incurred in our non covered loan portfolio. The FDIC is obligated to reimburse us for 80% of losses incurred in our covered loan portfolio subject to the terms of our loss share agreements with the FDIC. Our covered loan portfolio, loans purchased from the FDIC with specific identified credit deficiencies and those with implied credit deficiencies, has been marked to fair value at the acquisition date, which considers an estimate of probable losses, and is evaluated for impairment on a pool basis on a quarterly basis, pursuant to ASC Topic 310-30.

The allowance consists of three components. The first component is an allocation for impaired loans, as defined by generally accepted accounting principles. Impaired loans are those loans whereby management has arrived at a determination that the Company will not be repaid according to the original terms of the loan agreement. Each of these loans is required to have a written analysis supporting the amount of specific allowance allocated to the particular loan, if any. That is to say, a loan may be impaired (i.e., not expected to be repaid as agreed), but may be sufficiently collateralized such that we expect to recover all principal and interest eventually, and therefore no specific allowance is warranted.

The second component is a general allowance on all of the Company’s loans other than those identified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent two years. The portfolio segments identified by the Company are residential loans, commercial real estate loans, construction and land development loans, commercial and industrial and consumer and other. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic, or qualitative, factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations.

The third component consists of amounts reserved for purchased credit impaired loans. On a quarterly basis, the Company updates the amount of loan principal and interest cash flows expected to be collected, incorporating assumptions regarding default rates, loss severities, the amounts and timing of prepayments and other factors that are reflective of current market conditions. Probable decreases in expected loan principal cash flows trigger the recognition of impairment, which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool’s effective interest rate. Impairments that occur after the acquisition date are recognized through the provision for loan losses. Probable and significant increases in expected principal cash flows would first reverse any previously recorded allowance for loan losses; any remaining increases are recognized prospectively as interest income. The impacts of (i) prepayments, (ii) changes in variable interest rates, and (iii) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income. Disposals of loans, which may include sales of loans, receipt of payments in full by the borrower, or foreclosure, result in removal of the loan from the purchased credit impaired portfolio. The aggregate of these three components results in our total allowance for loan losses.

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In the table below we have shown the components, as discussed above, of our allowance for loan losses at September 30, 2013 and December 31, 2012.

	Sept 30, 2013							Dec 31, 2012							increase (decrease)
	loan		ALLL					loan		ALLL					loan			ALLL
	balance		balance		%			balance		balance		%			balance			balance
Impaired loans	$	39,880	$	784		1.97	%	$	48,179	$	1,022		2.12	%	$	(8,299	)	$	(238	)	-15bps
Non impaired loans		1,175,801		18,481		1.57	%		1,091,389		23,011		2.11	%		84,412			(4,530	)	-54bps
Loans (note 1)		1,215,681		19,265		1.58	%		1,139,568		24,033		2.11	%		76,113			(4,768	)	-53bps
Covered loans (note 2)		242,891		2,056					296,295		2,649					(53,404	)		(593	)
Total loans	$	1,458,572	$	21,321		1.46	%	$	1,435,863	$	26,682		1.86	%	$	22,709		$	(5,361	)	-40bps

note 1: Total loans not covered by FDIC loss share agreements.

note 2: Loans covered by FDIC loss share agreements. Eighty percent of any losses in this portfolio will be reimbursed by the FDIC and recognized as FDIC Indemnification income and included in non-interest income within the Company’s condensed consolidated statement of operations. Four loan pools with an aggregate carrying value of $8,254 are impaired at September 30, 2013, and have a specific allowance of $2,056. The aggregate carrying value of $8,254 represents approximately 69% of the underlying loan balances outstanding.

The general loan loss allowance (non-impaired loans) decreased by a net amount of $4,530. This decrease was primarily due to the continued improvement in our credit metrics, in particular the continued decline in our rolling two year charge-off history, partially offset by the growth in our non-impaired loan portfolio. The improved credit metrics include declining trends in non-performing loans, net charge-offs and performing loans past due 30-89 days, as well as, improvement in national and local economic trends.

The specific loan loss allowance (impaired loans) is the aggregate of the results of individual analyses prepared for each one of the impaired loans not covered by an FDIC loss sharing agreement on a loan level basis. We recorded partial charge offs in lieu of specific allowance for a number of the impaired loans. The Company’s impaired loans have been written down by $3,448 to $39,880 ($39,096 when the $784 specific allowance is considered) from their legal unpaid principal balance outstanding of $43,328. In the aggregate, total impaired loans have been written down to approximately 90% of their legal unpaid principal balance, and non-performing impaired loans have been written down to approximately 67% of their legal unpaid principal balance. The Company’s total non-performing loans (non-accrual loans plus loans past due greater than 90 days and still accruing, $21,139 at September 30, 2013) have been written down to approximately 75% of their legal unpaid principal balance.

Any losses in loans covered by FDIC loss share agreements, as described in note 2 above, are reimbursable from the FDIC to the extent of 80% of any losses. These loans are being accounted for pursuant to ASC Topic 310-30. On a quarterly basis, management updates the amount of loan principal and interest cash flows expected to be collected, incorporating assumptions regarding default rates, loss severities, the amounts and timing of prepayments and other factors that are reflective of current market conditions. Probable decreases in expected loan principal cash flows trigger the recognition of impairment, which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool’s effective interest rate. Impairments that occur after the acquisition date are recognized through the provision for loan losses.

The allowance is increased by the provision for loan losses, which is a charge to current period earnings and decreased by loan charge-offs net of recoveries of prior period loan charge-offs. Loans are charged against the allowance when management believes collection of the principal is unlikely. We believe our allowance for loan losses was adequate at September 30, 2013. However, we recognize that many factors can adversely impact various segments of the Company’s 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 tables below summarize the changes in allowance for loan losses during the periods presented.

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	Loans not covered by FDIC loss share agreements			Loans covered by FDIC loss share agreements			Total
Three months ended September 30, 2013
Balance at beginning of period	$	21,800		$	2,020		$	23,820
Loans charged-off		(1,570	)		—			(1,570	)
Recoveries of loans previously charged-off		344			—			344
Net charge-offs		(1,226	)		—			(1,226	)
(Recovery) provision for loan loss		(1,309	)		36			(1,273	)
Balance at end of period	$	19,265		$	2,056		$	21,321
Three months ended September 30, 2012
Balance at beginning of period	$	23,634		$	1,549		$	25,183
Loans charged-off		(2,245	)		—			(2,245	)
Recoveries of loans previously charged-off		978			—			978
Net charge-offs		(1,267	)		—			(1,267	)
Provision for loan losses		1,652			773			2,425
Balance at end of period	$	24,019		$	2,322		$	26,341
Nine months ended September 30, 2013
Balance at beginning of period	$	24,033		$	2,649		$	26,682
Loans charged-off		(5,404	)		(515	)		(5,919	)
Recoveries of loans previously charged-off		817			—			817
Net charge-offs		(4,587	)		(515	)		(5,102	)
(Recovery) provision for loan loss		(181	)		(78	)		(259	)
Balance at end of period	$	19,265		$	2,056		$	21,321
Nine months ended September 30, 2012
Balance at beginning of period	$	27,585		$	359		$	27,944
Loans charged-off		(10,393	)		—			(10,393	)
Recoveries of loans previously charged-off		1,739			—			1,739
Net charge-offs		(8,654	)		—			(8,654	)
Provision for loan losses		5,088			1,963			7,051
Balance at end of period	$	24,019		$	2,322		$	26,341

Nonperforming loans and nonperforming assets

Non performing loans, excluding loans covered by FDIC loss share agreements, are defined as non accrual loans plus loans past due 90 days or more and still accruing interest. Generally, we place loans on non accrual status when they are past due 90 days and management believes the borrower’s financial condition, after giving consideration to economic conditions and collection efforts, is such that collection of interest is doubtful. When we place a loan on non accrual status, interest accruals cease and uncollected interest is reversed and charged against current income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Non performing loans, excluding loans covered by FDIC loss share agreements, as a percentage of total loans, excluding loans covered by FDIC loss share agreements, were 1.74% at September 30, 2013, compared to 2.26% at December 31, 2012.

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Non performing assets, excluding assets covered by FDIC loss share agreements, (which we define as non performing loans, as defined above, plus (a) OREO (i.e., real estate acquired through foreclosure, in substance foreclosure, or deed in lieu of foreclosure); and (b) other repossessed assets that are not real estate), were $26,084 at September 30, 2013, compared to $33,386 at December 31, 2012. Non performing assets as a percentage of total assets were 1.12% at September 30, 2013, compared to 1.41% at December 31, 2012.

The following table sets forth information regarding the components of nonperforming assets at the dates indicated.

	Sept 30, 2013			Dec 31, 2012
Non-accrual loans (note 1)	$	21,104		$	25,448
Past due loans 90 days or more and still accruing interest (note 1)		35			293
Total non-performing loans (NPLs) (note 1)		21,139			25,741
Other real estate owned (OREO) (note 1)		4,804			6,875
Repossessed assets other than real estate (note 1)		141			770
Total non-performing assets (NPAs) (note 1)	$	26,084		$	33,386
Total NPLs as a percentage of total loans (note 1)		1.74	%		2.26	%
Total NPAs as a percentage of total assets (note 1)		1.12	%		1.41	%
Loans past due between 30 and 89 days and accruing interest as a percentage of total loans (note 1)		0.75	%		0.65	%
Allowance for loan losses, excluding FDIC covered loans	$	19,265		$	24,033
Allowance for loan losses as a percentage of NPLs (note 1)		91	%		93	%

note 1: Excludes loans, OREO and other repossessed assets covered by FDIC loss share agreements.

As shown in the table above, the largest component of non performing loans excluding loans covered by FDIC loss share agreements is non accrual loans. As of September 30, 2013 the Company had reported a total of 170 non accrual loans with an aggregate carrying value of $21,104, compared to December 31, 2012 when 184 non accrual loans with an aggregate book value of $25,448 were reported. This amount is further delineated by collateral category and number of loans in the table below.

Collateral category	Total amount in thousands of dollars		Percentage of total non accrual loans			Number of non accrual loans in category
Residential real estate	$	10,882		52	%		89
Commercial real estate		7,263		34	%		30
Land, development, construction		1,247		6	%		8
Commercial		1,290		6	%		18
Consumer, other		422		2	%		25
Total non accrual loans at September 30, 2013	$	21,104		100	%		170

The second largest component of non performing assets after non accrual loans is OREO, excluding OREO covered by FDIC loss share agreements. At September 30, 2013, total OREO was $26,437. Of this amount, $21,633 is covered by FDIC loss sharing agreements. Pursuant and subject to the terms of the loss sharing agreements, the FDIC is obligated to reimburse the Company for 80% of losses with respect to the covered OREO beginning with the first dollar of loss incurred. The Company will reimburse the FDIC for its share of recoveries with respect to the covered OREO. The loss sharing agreements applicable to single family residential mortgage loans provide for FDIC loss sharing and the Company reimbursement to the FDIC for recoveries for ten years. The loss sharing agreements applicable to commercial loans provides for FDIC loss sharing for five years and Company reimbursement to the FDIC for a total of eight years for recoveries.

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OREO not covered by FDIC loss share agreements is $4,804 at September 30, 2013. OREO is carried at the lower of cost or market less the estimated cost to sell. Further declines in real estate values can affect the market value of these assets. Any further decline in market value beyond its cost basis is recorded as a current expense in the Company’s Condensed Consolidated Statement of Earnings and Comprehensive Income. OREO is further delineated in the table below.

(unaudited) Description of repossessed real estate	carrying amount at Sept 30, 2013
6 single family homes	$	1,498
8 residential building lots		1,353
7 commercial buildings		969
Land / various acreages		984
Total, excluding OREO covered by FDIC loss share agreements	$	4,804

Impaired loans are defined as loans that management has determined will not repay as agreed pursuant to the terms of the related loan agreement. Small balance homogeneous loans are not considered for impairment purposes. Once management has determined a loan is impaired, we perform a specific reserve analysis to determine if it is probable that we will eventually collect all contractual cash flows. If management determines that a shortfall is probable, then a specific valuation allowance is placed against the loan. This loan is then placed on non accrual basis, even if the borrower is current with his/her contractual payments, and will remain on non accrual until payments collected reduce the loan balance such that it eliminates the specific valuation allowance or equivalent partial charge-down or other economic conditions change. At September 30, 2013 we have identified a total of $39,880 impaired loans, excluding loans covered by FDIC loss share agreements. A specific valuation allowance of $784 has been attached to $7,992 of the total identified impaired loans. It should also be noted that the total carrying balance of the impaired loans, or $39,880, has been partially charged down by $3,448 from their aggregate legal unpaid balance of $43,323. The table below summarizes impaired loan data for the periods presented.

	Sept 30, 2013		Dec 31, 2012
Impaired loans with a specific valuation allowance	$	7,992	$	10,744
Impaired loans without a specific valuation allowance		31,888		37,435
Total impaired loans	$	39,880	$	48,179
Amount of allowance for loan losses allocated to impaired loans	$	784	$	1,022
Performing TDRs	$	11,604	$	8,841
Non performing TDRs, included in NPLs		4,207		5,819
Total TDRs (TDRs are required to be included in impaired loans)	$	15,811	$	14,660
Impaired loans that are not TDRs		24,069		33,519
Total impaired loans	$	39,880	$	48,179

We continually analyze our loan portfolio in an effort to recognize and resolve problem assets as quickly and efficiently as possible. As of September 30, 2013, we believe the allowance for loan losses was adequate. However, we recognize that many factors can adversely impact various segments of the market. Accordingly, there is no assurance that losses in excess of such allowance will not be incurred.

Bank premises and equipment

Bank premises and equipment was $97,289 at September 30, 2013 compared to $97,954 at December 31, 2012, a decrease of $665 or 0.7%. This amount is the result of purchases net of disposals of $3,651 less $4,316 of depreciation expense.

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Deposits

During the nine month period ending September 30, 3013, total deposits decreased by $35,277 (time deposits decreased by $75,096 and non-time deposits increased by $39,819). The loan to deposit ratio was approximately 74.3% at September 30, 2013. The table below summarizes the Company’s deposit mix at the dates indicated.

	Sept 30, 2013		% of total			Dec 31, 2012		% of total
Demand - non-interest bearing	$	562,027		29	%	$	519,510		26	%
Demand - interest bearing		452,583		23	%		452,961		23	%
Savings deposits		240,431		12	%		238,216		12	%
Money market accounts		306,706		16	%		311,241		16	%
Time deposits		400,208		20	%		475,304		23	%
Total deposits	$	1,961,955		100	%	$	1,997,232		100	%

Securities sold under agreement to repurchase

Our subsidiary bank enters into borrowing arrangements with our retail business customers by agreements to repurchase (“securities sold under agreements to repurchase”) under which the bank pledges investment securities owned and under their control as collateral against the one-day borrowing arrangement. These short-term borrowings totaled $22,150 at September 30, 2013 compared to $18,792 at December 31, 2012.

Federal funds purchased

Federal funds purchased are overnight deposits from correspondent banks. Federal funds purchased acquired from other than our correspondent bank deposits are included with Federal Home Loan Bank advances and other borrowed funds as described below, if any. At September 30, 2013 we had $45,356 of correspondent bank deposits or federal funds purchased, compared to $38,932 at December 31, 2012.

Federal Home Loan Bank advances and other borrowed funds

From time to time, we borrow either through Federal Home Loan Bank advances or Federal Funds Purchased, other than correspondent bank deposits (i.e. federal funds purchased) listed above. At September 30, 2013 and December 31, 2012, there were no outstanding advances from the Federal Home Loan Bank.

Corporate debentures

We formed CenterState Banks of Florida Statutory Trust I (the “Trust”) for the purpose of issuing trust preferred securities. On September 22, 2003, we issued a floating rate corporate debenture in the amount of $10,000. The Trust used the proceeds from the issuance of a trust preferred security to acquire the corporate debenture of the Company. The trust preferred security essentially mirrors the corporate debenture, carrying a cumulative preferred dividend at a variable rate equal to the interest rate on the corporate debenture (three month LIBOR plus 305 basis points). The corporate debenture and the trust preferred security each have 30-year lives. The trust preferred security and the corporate debenture are callable by the Company or the Trust, at their respective option, subject to prior approval by the Federal Reserve Board, if then required. The Company has treated the trust preferred security as Tier 1 capital up to the maximum amount allowed under the Federal Reserve guidelines for federal regulatory purposes.

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In September 2004, Valrico Bancorp Inc. (“VBI”) formed Valrico Capital Statutory Trust (“Valrico Trust”) for the purpose of issuing trust preferred securities. On September 9, 2004, VBI issued a floating rate corporate debenture in the amount of $2,500. The Trust used the proceeds from the issuance of a trust preferred security to acquire the corporate debenture. On April 2, 2007, the Company acquired all the assets and assumed all the liabilities of VBI pursuant to the merger agreement, including VBI’s corporate debenture and related trust preferred security discussed above. The trust preferred security essentially mirrors the corporate debenture, carrying a cumulative preferred dividend at a variable rate equal to the interest rate on the corporate debenture (three month LIBOR plus 270 basis points). The corporate debenture and the trust preferred security each have 30-year lives. The trust preferred security and the corporate debenture are callable by the Company or the Valrico Trust, at their respective option, subject to prior approval by the Federal Reserve, if then required. The Company has treated the trust preferred security as Tier 1 capital up to the maximum amount allowed under the Federal Reserve guidelines for federal regulatory purposes.

In November 2011, we acquired certain assets and assumed certain liabilities of Federal Trust Corporation (“FTC”) from The Hartford Financial Services Group, Inc. (“Hartford”) pursuant to an acquisition agreement, including FTC’s corporate debenture and related trust preferred security issued through FTC’s finance subsidiary Federal Trust Statutory Trust (“FTC Trust) in the amount of $5,000. The trust preferred security essentially mirrors the corporate debenture, carrying a cumulative preferred dividend at a variable rate equal to the interest rate on the corporate debenture (three month LIBOR plus 295 basis points). The corporate debenture and the trust preferred security each have 30-year lives maturing in 2033. The trust preferred security and the corporate debenture are callable by the Company or the FTC Trust, at their respective option after five years, and sooner in specific events, subject to prior approval by the Federal Reserve, if then required. The Company has treated the corporate debenture as Tier 1 capital up to the maximum amount allowed under the Federal Reserve guidelines for federal regulatory purposes. The Company is not considered the primary beneficiary of this Trust (variable interest entity), therefore the trust is not consolidated in the Company’s financial statements, but rather the subordinated debentures are shown as a liability.

Stockholders’ equity

Stockholders’ equity at September 30, 2013, was $272,741, or 11.7% of total assets, compared to $273,531, or 11.6% of total assets at December 31, 2012. The decrease in stockholders’ equity was due to the following items:

$	273,531		Total stockholders’ equity at December 31, 2012
	10,443		Net income during the period
	(902	)	Dividends paid on common shares, $0.03 per common share
	(10,857	)	Net decrease in market value of securities available for sale, net of deferred taxes
	526		Employee equity based compensation
$	272,741		Total stockholders’ equity at September 30, 2013

The federal bank regulatory agencies have established risk-based capital requirements for banks. These guidelines are intended to provide an additional measure of a bank’s capital adequacy by assigning weighted levels of risk to asset categories. Banks are also required to systematically maintain capital against such “off- balance sheet” activities as loans sold with recourse, loan commitments, guarantees and standby letters of credit. These guidelines are intended to strengthen the quality of capital by increasing the emphasis on common equity and restricting the amount of loan loss reserves and other forms of equity such as preferred stock that may be included in capital. As of September 30, 2013, our subsidiary bank exceeded the minimum capital levels to be considered “well capitalized” under the terms of the guidelines.

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Selected consolidated capital ratios at September 30, 2013 and December 31, 2012 for the Company and for the Company’s subsidiary bank, CenterState Bank of Florida, N.A., are presented in the tables below. There is no threshold for “well-capitalized” status for bank holding companies.

CenterState Banks, Inc. (the Company)	Actual					Capital Adequacy					Excess
	Amount		Ratio			Amount		Ratio			Amount
September 30, 2013
Total capital (to risk weighted assets)	$	260,450		18.1	%	$	114,800		> 8	%	$	145,650
Tier 1 capital (to risk weighted assets)		242,471		16.9	%		57,400		> 4	%		185,071
Tier 1 capital (to average assets)		242,471		10.6	%		91,906		> 4	%		150,565
December 31, 2012
Total capital (to risk weighted assets)	$	249,016		17.9	%	$	111,360		> 8	%	$	137,656
Tier 1 capital (to risk weighted assets)		231,501		16.6	%		55,680		> 4	%		175,821
Tier 1 capital (to average assets)		231,501		9.9	%		93,432		> 4	%		138,069

CenterState Bank of Florida, N.A.	Actual					Well capitalized					Excess
	Amount		Ratio			Amount		Ratio			Amount
September 30, 2013
Total capital (to risk weighted assets)	$	244,478		17.1	%	$	142,981		> 10	%	$	101,497
Tier 1 capital (to risk weighted assets)		226,565		15.8	%		85,789		> 6	%		140,776
Tier 1 capital (to average assets)		226,565		9.9	%		114,559		> 5	%		112,006
December 31, 2012
Total capital (to risk weighted assets)	$	230,590		16.6	%	$	138,530		> 10	%	$	92,060
Tier 1 capital (to risk weighted assets)		213,161		15.4	%		83,118		> 6	%		130,043
Tier 1 capital (to average assets)		213,161		9.2	%		115,789		> 5	%		97,372

In July 2013, the two federal banking regulatory agencies that have authority to regulate the Company’s capital resources and capital structure (the Board of Governors of the Federal Reserve System (FRB) and Federal Deposit Insurance Corporation (FDIC)) took action to finalize the application to the United States banking industry of new regulatory capital requirements that are established by the international banking framework commonly referred to as “Basel III” and to implement certain other changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. As anticipated by management of the Company (see the related discussion included in Item 1 of the Company’s annual report on Form 10-K for the year 2012 filed in March 2013), these rules make significant changes to the U.S. bank regulatory capital framework, and generally increase capital requirements for banking organizations. However, in response to concerns expressed by community banks such as the Company, the final rules addressed previous concerns of community banks about the proposed rules’ regulatory capital treatment of trust preferred securities, unrealized gains and losses on available-for-sale securities in accumulated other comprehensive income (“AOCI”) and mortgage risk weights. Therefore, although the Company has not yet had the opportunity to analyze the final rules in detail in order to determine their likely impact upon the Company, and although management does continue to believe that such requirements will in general increase the amount of capital that the Company and the Bank may be required to maintain under these new standards, the Company believes that its prior concerns regarding volatility and trust preferred securities have been favorably addressed by the final rules. The Company does not presently expect that any materially burdensome compliance efforts with these final capital rules will be required of us prior to January 1, 2015.

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COMPARISON OF RESULTS OF OPERATIONS FOR THE THREE MONTH PERIODS ENDED SEPTEMBER 30, 2013 AND 2012

Overview

We recognized net income of $3,109 or $0.10 per share basic and diluted for the three month period ended September 30, 2013, compared to net income of $2,642 or $0.09 per share basic and diluted for the same period in 2012. Primary differences between the comparable periods included net interest income, loan loss provision, fixed income security sales revenue from our correspondent banking division and FDIC indemnification asset amortization. These items along with others are discussed and analyzed below.

Net interest income/margin

Net interest income increased $2,943 or 14% to $24,610 during the three month period ended September 30, 2013 compared to $21,667 for the same period in 2012. The $2,943 increase was the result of a $2,426 increase in interest income and a $517 decrease in interest expense.

Interest earning assets averaged $1,995,719 during the three month period ended September 30, 2013 as compared to $2,038,344 for the same period in 2012, a decrease of $42,625, or 2%. The yield on average interest earning assets increased 57bps to 5.18% (58bps to 5.25% tax equivalent basis) during the three month period ended September 30, 2013, compared to 4.61% (4.67% tax equivalent basis) for the same period in 2012. The combined effects of the $42,625 decrease in average interest earning assets and the 57bps (58bps tax equivalent basis) increase in yield on average interest earning assets resulted in the $2,426 ($2,437 tax equivalent basis) increase in interest income between the two periods.

Interest bearing liabilities averaged $1,479,410 during the three month period ended September 30, 2013 as compared to $1,620,587 for the same period in 2012, a decrease of $141,177, or 8.7%. The cost of average interest bearing liabilities decreased 10bps to 0.38% during the three month period ended September 30, 2013, compared to 0.48% for the same period in 2012. The combined effects of the $141,177 decrease in average interest bearing liabilities and the 10bps decrease in cost of average interest bearing liabilities resulted in the $517 decrease in interest expense between the two periods.

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The table below summarizes the analysis of changes in interest income and interest expense for the three month periods ended September 30, 2013 and 2012 on a tax equivalent basis.

	Three months ended September 30,
	2013								2012
	Average balance			Interest inc / exp		Average rate			Average balance			Interest inc / exp		Average rate
Loans (notes 1, 2, 8)	$	1,195,105		$	14,243		4.73	%	$	1,129,783		$	14,815		5.22	%
Covered loans		249,154			8,886		14.15	%		327,847			5,796		7.03	%
Securities- taxable		430,995			2,560		2.36	%		438,317			2,653		2.41	%
Securities- tax exempt (note 8)		40,119			550		5.44	%		39,770			538		5.38	%
Fed funds sold and other (note 3)		80,346			149		0.74	%		102,627			149		0.58	%
Total interest earning assets		1,995,719			26,388		5.25	%		2,038,344			23,951		4.67	%
Allowance for loan losses		(23,819	)							(25,893	)
All other assets		377,072								401,145
Total assets	$	2,348,972							$	2,413,596
Interest bearing deposits (note 4)		1,402,753			1,246		0.35	%		1,532,538			1,748		0.45	%
Fed funds purchased		36,823			5		0.05	%		47,885			6		0.05	%
Other borrowings (note 5)		22,847			21		0.36	%		22,818			23		0.40	%
Note payable (9)		—			—		—			384			4		4.14	%
Corporate debenture		16,987			152		3.55	%		16,962			160		3.75	%
Total interest bearing liabilities		1,479,410			1,424		0.38	%		1,620,587			1,941		0.48	%
Demand deposits		581,827								503,654
Other liabilities		17,315								16,655
Stockholders’ equity		270,420								272,700
Total liabilities and stockholders’ equity	$	2,348,972							$	2,413,596
Net interest spread (tax equivalent basis) (note 6)							4.87	%							4.19	%
Net interest income (tax equivalent basis)				$	24,964							$	22,010
Net interest margin (tax equivalent basis) (note 7)							4.96	%							4.30	%

note 1: Loan balances are net of deferred origination fees and costs.

note 2: Interest income on average loans includes amortization of loan fee recognition of $143 and $101 for the three month periods ended September 30, 2013 and 2012.

note 3: Includes federal funds sold, interest earned on deposits at the Federal Reserve Bank and earnings on Federal Reserve Bank stock and Federal Home Loan Bank stock.

note 4: Includes interest bearing deposits only. Non-interest bearing checking accounts are included in the demand deposits listed above. Also, includes net amortization of fair market value adjustments related to various acquisitions of time deposits of ($90) and ($371) for the three month periods ended September 30, 2013 and 2012.

note 5: Includes securities sold under agreements to repurchase and Federal Home Loan Bank advances.

note 6: Represents the average rate earned on interest earning assets minus the average rate paid on interest bearing liabilities.

note 7: Represents net interest income divided by total interest earning assets.

note 8: Interest income and rates include the effects of a tax equivalent adjustment using applicable statutory tax rates to adjust tax exempt interest income on tax exempt investment securities and loans to a fully taxable basis.

note 9: Represents a $10,000 short-term note used to facilitate the two FDIC assisted transactions during January 2012 which was subsequently repaid during July 2012.

During the current quarter the covered loan yield increased because the cash received (or the estimate of the value of the asset repossessed and transferred to OREO) exceeded the amount that was previously estimated. This occurred in several loan pools during the quarter and resulted in additional income of approximately $697. Excluding this amount from interest income during the current quarter, the yield on the FDIC covered loan portfolio is equal to approximately 13.04% compared to the reported 14.15%, and the NIM is equal to approximately 4.82% compared to the reported 4.96%.

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Provision for loan losses

The provision for loan losses decreased $3,698, or 152%, to a negative provision of $1,273 during the three month period ending September 30, 2013 compared to a positive provision of $2,425 for the comparable period in 2012. Our policy is to maintain the allowance for loan losses at a level sufficient to absorb probable incurred losses inherent in the loan portfolio. The allowance is increased by the provision for loan losses, which is a charge to current period earnings, and is decreased by charge-offs, net of recoveries on prior loan charge-offs. Therefore, the provision for loan losses (Income Statement effect) is a residual of management’s determination of allowance for loan losses (Balance Sheet approach). In determining the adequacy of the allowance for loan losses, we consider the conditions of individual borrowers, the historical loan loss experience, the general economic environment, the overall portfolio composition, and other information. As these factors change, the level of loan loss provision changes. Our loss factors associated with our general allowance for loan losses is the primary reason causing the decrease in our provision expense due to our continued improvement in substantially all of our credit metrics, in particular our historical loss factors which is a derivative of our historical charge-off rates. See “Credit quality and allowance for loan losses” for additional information regarding the allowance for loan losses.

Non-interest income

Non-interest income for the three months ended September 30, 2013 was $8,607 compared to $16,335 for the comparable period in 2012. This decrease was the result of the following components listed in the table below.

							$			%
Three month period ending:	Sept 30, 2013			Sept 30, 2012			increase (decrease)			increase (decrease)
Income from correspondent banking and bond sales division	$	2,909		$	8,606		$	(5,697	)		(66.2	%)
Other correspondent banking related revenue		862			847			15			1.8	%
Wealth management related revenue		1,179			1,000			179			17.9	%
Service charges on deposit accounts		2,244			1,695			549			32.4	%
Debit, prepaid, ATM and merchant card related fees		1,399			1,160			239			20.6	%
BOLI income		327			360			(33	)		(9.2	%)
Other service charges and fees		190			464			(274	)		(59.1	%)
Gain on sale of securities		—			675			(675	)		(100.0	%)
Subtotal	$	9,110		$	14,807		$	(5,697	)		(38.5	%)
FDIC indemnification asset-amortization(see explanation below)		(3,836	)		(671	)		(3,165	)		(471.7	%)
FDIC indemnification income		3,333			2,199			1,134			51.6	%
Total non-interest income	$	8,607		$	16,335		$	(7,728	)		(47.3	%)

When the estimate of future losses in covered loans decrease (i.e. future cash flows increase), this increase in cash flows is accreted into interest income, increasing yields, over the remaining life of the related loan pool. The indemnification asset (“IA”) represents the amount that is expected to be collected from the FDIC for reimbursement of 80% of the estimated losses in the covered pools. When management decreases its estimate of future losses, the expected reimbursement from the FDIC, or IA, is decreased by 80% of this amount. The decrease in estimated reimbursements is expensed (negative accretion) over the lesser of the remaining expected life of the related loan pool(s) or the remaining term of the related loss share agreement(s), and is included in non-interest income as a negative amount.

At September 30, 2013, the total IA on our Condensed Consolidated Balance Sheet was $81,603. Of this amount, we expect to receive reimbursements from the FDIC of approximately $50,655 related to future estimated losses, and expect to write-off approximately $30,948 for previously estimated losses that are no longer expected. The $30,948 is now expected to be paid by the borrower (or realized upon

51

the sale of OREO) instead of a reimbursement from the FDIC. At September 30, 2013, the $30,948 previously estimated reimbursements from the FDIC will be written off as expense (negative accretion) included in our non-interest income category of our Condensed Consolidated Statement of Earnings and Comprehensive Income as summarized below.

Year			Year
2013 (3 months)	12.5	%	2017	6.3	%
2014	37.6	%	2018	5.1	%
2015	18.3	%	2019 thru 2021	8.0	%
2016	12.2	%	Total	100.0	%

When a FDIC covered OREO property is sold at a loss, the loss is included in non-interest expense as loss on sale of OREO, and 80% of the loss is recorded as FDIC OREO indemnification income and included in non-interest income. When a FDIC covered loan pool is impaired, the impairment expense is included in loan loss provision expense, and 80% of the impairment expense is recorded as FDIC pool impairment indemnification income and included in non-interest income.

Income from correspondent banking and bond sales division means the spread earned from buying and selling fixed income securities among our correspondent bank customers. We do not take a position in the transaction, but merely earn a spread for facilitating it. Gross revenue depends on the amount of sales volume, which is volatile from period to period. Sales volume was substantially less in the current quarter compared to the third quarter of 2012. The decrease in volume is likely due to recent increases in market interest rates thereby causing unrealized losses in our correspondent bank customers’ securities portfolios. Many of our correspondent bank customers may be reluctant to execute sales and realize the loss if there are other possible strategies they can use which is likely a primary contributing factor to reduced sales volume.

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Non-interest expense

Non-interest expense for the three months ended September 30, 2013 decreased $1,856, or 5.9%, to $29,850, compared to $31,706 for the same period in 2012. Components of our non-interest expenses are listed in the table below.

Three month period ending:	Sept 30, 2013			Sept 30, 2012			$ increase (decrease)			% increase (decrease)
Employee salaries and wages	$	11,168		$	14,083		$	(2,915	)		(20.7	%)
Employee incentive/bonus compensation		1,325			1,247			78			6.3	%
Employee stock based compensation		147			154			(7	)		(4.6	%)
Employer 401K matching contributions		276			268			8			3.0	%
Deferred compensation expense		147			131			16			12.2	%
Health insurance and other employee benefits		842			1,034			(192	)		(18.6	%)
Payroll taxes		655			718			(63	)		(8.8	%)
Other employee related expenses		272			298			(26	)		(8.7	%)
Incremental direct cost of loan origination		(487	)		(227	)		(260	)		(114.5	%)
Total salaries, wages and employee benefits		14,345			17,706			(3,361	)		(19.0	%)
Loss (gain) on sale of OREO		68			33			35			106.1	%
Loss (gain) on sale of FDIC covered OREO		1,784			120			1,664			1386.7	%
Valuation write down (recovery) of OREO		338			368			(30	)		(8.2	%)
Valuation write down of FDIC covered OREO		2,846			1,367			1,479			108.2	%
Loss on repossessed assets other than real estate		39			37			2			5.4	%
Loan put back expense		—			852			(852	)		(100.0	%)
Foreclosure and repossession related expenses		376			858			(482	)		(56.2	%)
Foreclosure and repo expense, FDIC (note 1)		304			209			95			45.5	%
Total credit related expenses		5,755			3,844			1,911			49.7	%
Occupancy expense		1,924			2,246			(322	)		(14.3	%)
Depreciation of premises and equipment		1,364			1,465			(101	)		(6.9	%)
Supplies, stationary and printing		268			261			7			2.7	%
Marketing expenses		722			716			6			0.8	%
Data processing expense		1,026			890			136			15.3	%
Legal, auditing and other professional fees		1,176			551			625			113.4	%
Bank regulatory related expenses		588			623			(35	)		(5.6	%)
Postage and delivery		266			282			(16	)		(5.7	%)
Debit, prepaid, ATM and merchant card related expenses		435			347			88			25.4	%
CDI and Trust intangible amortization		296			353			(57	)		(16.2	%)
Impairment - bank property held for sale		—			449			(449	)		(100.0	%)
Internet and telephone banking		286			209			77			36.8	%
Put-back option amortization		—			182			(182	)		(100.0	%)
Operational write-offs and losses		49			378			(329	)		(87.0	%)
Correspondent accounts and Federal Reserve charges		114			133			(19	)		(14.3	%)
Conferences/Seminars/Education/Training		138			105			33			31.4	%
Director fees		99			100			(1	)		(1.0	%)
Travel expenses		119			112			7			6.3	%
Other expenses		697			577			120			20.8	%
Subtotal		29,667			31,529			(1,862	)		(5.9	%)
Merger, acquisition and conversion related expenses		183			177			6			3.4	%
Total non-interest expense	$	29,850		$	31,706		$	(1,856	)		(5.9	%)

note 1: These are foreclosure and repossession related expenses related to FDIC covered assets, and are shown net of FDIC reimbursable amounts pursuant to FDIC loss share agreements.

As noted in the table above, employee salaries and wages decreased approximately 20.7% between the two periods presented. This was due primarily to a decrease in fixed income security sales

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from our correspondent banking division. Our bond salesmen are compensated on a commission basis. When sales volume decreases, as was the case in the current quarter compared to the third quarter of 2012, their compensation decreases.

Provision for income taxes

We recognized an income tax provision for the three months ended September 30, 2013 of $1,531 on pre-tax income of $4,640 (an effective tax rate of 33.0%) compared to an income tax provision of $1,229 on pre-tax income of $3,871 (an effective tax rate of 31.7%) for the comparable quarter in 2012.

COMPARISON OF RESULTS OF OPERATIONS FOR THE NINE MONTH PERIODS ENDED SEPTEMBER 30, 2013 AND 2012

Overview

We recognized net income of $10,443 or $0.35 per share basic and diluted for the nine month period ended September 30, 2013, compared to net income of $7,669 or $0.25 per share basic and diluted for the same period in 2012. Similar to the quarterly comparison analysis discussed above the primary differences between these comparable periods include net interest income, loan loss provision, fixed income security sales revenue from our correspondent banking division and FDIC indemnification asset amortization. These items along with others are discussed and analyzed below.

Net interest income/margin

Net interest income increased $5,482 or 8% to $70,412 during the nine month period ended September 30, 2013 compared to $64,930 for the same period in 2012. The $5,482 increase was the result of a $3,214 increase in interest income and a $2,268 decrease in interest expense.

Interest earning assets averaged $2,017,335 during the nine month period ended September 30, 2013 as compared to $2,088,799 for the same period in 2012, a decrease of $71,464, or 3%. The yield on average interest earning assets increased 38bps to 4.96% (38bps to 5.03% tax equivalent basis) during the nine month period ended September 30, 2013, compared to 4.58% (4.65% tax equivalent basis) for the same period in 2012. The combined effects of the $71,464 decrease in average interest earning assets and the 38bps (38bps tax equivalent basis) increase in yield on average interest earning assets resulted in the $3,214 ($3,195 tax equivalent basis) increase in interest income between the two periods.

Interest bearing liabilities averaged $1,511,153 during the nine month period ended September 30, 2013 as compared to $1,679,536 for the same period in 2012, a decrease of $168,383, or 10%. The cost of average interest bearing liabilities decreased 14bps to 0.40% during the nine month period ended September 30, 2013, compared to 0.54% for the same period in 2012. The combined effects of the $168,383 decrease in average interest bearing liabilities and the 14bps decrease in cost of average interest bearing liabilities resulted in the $2,268 decrease in interest expense between the two periods.

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The table below summarizes the analysis of changes in interest income and interest expense for the nine month periods ended September 30, 2013 and 2012 on a tax equivalent basis.

	Nine months ended September 30,
	2013								2012
	Average balance			Interest inc / exp		Average rate			Average balance			Interest inc / exp		Average rate
Loans (notes 1, 2, 8)	$	1,162,522		$	42,045		4.84	%	$	1,122,976		$	44,055		5.24	%
Covered loans		265,897			24,578		12.36	%		330,477			17,542		7.09	%
Securities- taxable		413,757			7,045		2.28	%		480,966			9,086		2.52	%
Securities- tax exempt (note 8)		42,668			1,659		5.20	%		38,675			1,580		5.46	%
Fed funds sold and other (note 3)		132,491			575		0.58	%		115,705			444		0.51	%
Total interest earning assets		2,017,335			75,902		5.03	%		2,088,799			72,707		4.65	%
Allowance for loan losses		(24,844	)							(26,852	)
All other assets		381,047								403,309
Total assets	$	2,373,538							$	2,465,256
Interest bearing deposits (note 4)		1,432,804			3,959		0.37	%		1,577,723			5,983		0.51	%
Fed funds purchased		39,006			16		0.05	%		56,920			22		0.05	%
Other borrowings (note 5)		22,362			60		0.36	%		21,942			71		0.43	%
Note payable (9)		—			—		—			5,996			198		4.41	%
Corporate debenture		16,981			452		3.56	%		16,955			481		3.79	%
Total interest bearing liabilities		1,511,153			4,487		0.40	%		1,679,536			6,755		0.54	%
Demand deposits		567,383								501,903
Other liabilities		21,521								16,016
Stockholders’ equity		273,481								267,801
Total liabilities and stockholders’ equity	$	2,373,538							$	2,465,256
Net interest spread (tax equivalent basis) (note 6)							4.63	%							4.11	%
Net interest income (tax equivalent basis)				$	71,415							$	65,952
Net interest margin (tax equivalent basis) (note 7)							4.73	%							4.22	%

note 1: Loan balances are net of deferred origination fees and costs.

note 2: Interest income on average loans includes amortization of loan fee recognition of $380 and $480 for the nine month periods ended September 30, 2013 and 2012.

note 3: Includes federal funds sold, interest earned on deposits at the Federal Reserve Bank and earnings on Federal Reserve Bank stock and Federal Home Loan Bank stock.

note 4: Includes interest bearing deposits only. Non-interest bearing checking accounts are included in the demand deposits listed above. Also, includes net amortization of fair market value adjustments related to various acquisitions of time deposits of ($391) and ($1,420) for the nine month periods ended September 30, 2013 and 2012.

note 5: Includes securities sold under agreements to repurchase and Federal Home Loan Bank advances.

note 6: Represents the average rate earned on interest earning assets minus the average rate paid on interest bearing liabilities.

note 7: Represents net interest income divided by total interest earning assets.

note 8: Interest income and rates include the effects of a tax equivalent adjustment using applicable statutory tax rates to adjust tax exempt interest income on tax exempt investment securities and loans to a fully taxable basis.

note 9: Represents a $10,000 short-term note used to facilitate the two FDIC assisted transactions during January 2012 which was subsequently repaid during July 2012.

During the current nine month period the covered loan yield increased because the cash received (or the estimate of the value of the asset repossessed and transferred to OREO) exceeded the amount that was previously estimated. This occurred in several loan pools during the nine month period and resulted in additional income of approximately $3,593. Excluding this amount from interest income during the current nine month period, the yield on the FDIC covered loan portfolio is equal to approximately 10.55% compared to the reported 12.36%, and the NIM is equal to approximately 4.49% compared to the reported 4.73%.

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Provision for loan losses

The provision for loan losses decreased $7,310, or 104%, to a negative provision of $259 during the nine month period ending September 30, 2013 compared to a positive provision of $7,051 for the comparable period in 2012. Our policy is to maintain the allowance for loan losses at a level sufficient to absorb probable incurred losses inherent in the loan portfolio. The allowance is increased by the provision for loan losses, which is a charge to current period earnings, and is decreased by charge-offs, net of recoveries on prior loan charge-offs. Therefore, the provision for loan losses (Income Statement effect) is a residual of management’s determination of allowance for loan losses (Balance Sheet approach). In determining the adequacy of the allowance for loan losses, we consider the conditions of individual borrowers, the historical loan loss experience, the general economic environment, the overall portfolio composition, and other information. As these factors change, the level of loan loss provision changes. Our loss factors associated with our general allowance for loan losses is the primary reason causing the decrease in our provision expense due to our continued improvement in substantially all of our credit metrics, in particular our historical loss factors which is a derivative of our historical charge-off rates. See “Credit quality and allowance for loan losses” for additional information regarding the allowance for loan losses.

Non-interest income

Non-interest income for the nine months ended September 30, 2013 was $28,749 compared to $46,521 for the comparable period in 2012. This decrease was the result of the following components listed in the table below.

Nine month period ending:	Sept 30, 2013			Sept 30, 2012			$ increase (decrease)			% increase (decrease)
Income from correspondent banking and bond sales division	$	13,953		$	26,356		$	(12,403	)		(47.1	%)
Other correspondent banking related revenue		2,432			2,158			274			12.7	%
Wealth management related revenue		3,379			2,818			561			19.9	%
Service charges on deposit accounts		6,144			4,773			1,371			28.7	%
Debit, prepaid, ATM and merchant card related fees		4,026			3,381			645			19.1	%
BOLI income		1,004			1,081			(77	)		(7.1	%)
Other service charges and fees		723			1,062			(339	)		(31.9	%)
Gain on sale of securities		1,038			2,003			(965	)		(48.2	%)
Bargain purchase gain		—			453			(453	)		(100.0	%)
Subtotal		32,699		$	44,085			(11,386	)		(25.8	%)
FDIC indemnification asset-amortization (see explanation below)		(9,307	)		(1,556	)		(7,751	)		(498.1	%)
FDIC indemnification income		5,357			3,992			1,365			34.2	%
Total non-interest income	$	28,749		$	46,521		$	(17,772	)		(38.2	%)

When the estimate of future losses in covered loans decrease (i.e. future cash flows increase), this increase in cash flows is accreted into interest income, increasing yields, over the remaining life of the related loan pool. The indemnification asset (“IA”) represents the amount that is expected to be collected from the FDIC for reimbursement of 80% of the estimated losses in the covered pools. When management decreases its estimate of future losses, the expected reimbursement from the FDIC, or IA, is decreased by 80% of this amount. The decrease in estimated reimbursements is expensed (negative accretion) over the lesser of the remaining expected life of the related loan pool(s) or the remaining term of the related loss share agreement(s), and is included in non-interest income as a negative amount.

At September 30, 2013, the total IA on our Condensed Consolidated Balance Sheet was $81,603. Of this amount, we expect to receive reimbursements from the FDIC of approximately $50,655 related to future estimated losses, and expect to write-off approximately $30,948 for previously estimated losses

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that are no longer expected. The $30,948 is now expected to be paid by the borrower (or realized upon the sale of OREO) instead of a reimbursement from the FDIC. At September 30, 2013, the $30,948 previously estimated reimbursements from the FDIC will be written off as expense (negative accretion) included in our non-interest income category of our Condensed Consolidated Statement of Earnings and Comprehensive Income as summarized below.

Year			Year
2013 (3 months)	12.5	%	2017	6.3	%
2014	37.6	%	2018	5.1	%
2015	18.3	%	2019 thru 2021	8.0	%
2016	12.2	%	Total	100.0	%

When a FDIC covered OREO property is sold at a loss, the loss is included in non-interest expense as loss on sale of OREO, and 80% of the loss is recorded as FDIC OREO indemnification income and included in non-interest income. When a FDIC covered loan pool is impaired, the impairment expense is included in loan loss provision expense, and 80% of the impairment expense is recorded as FDIC pool impairment indemnification income and included in non-interest income.

Income from correspondent banking and bond sales division means the spread earned from buying and selling fixed income securities among our correspondent bank customers. We do not take a position in the transaction, but merely earn a spread for facilitating it. Gross revenue depends on the amount of sales volume, which is volatile from period to period. Sales volume was substantially less in the current period compared to the similar period in 2012. The decrease in volume is likely due to recent increases in market interest rates thereby causing unrealized losses in our correspondent bank customers’ securities portfolios. Many of our correspondent bank customers may be reluctant to execute sales and realize the loss if there are other possible strategies they can use which is likely a primary contributing factor to reduced sales volume.

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Non-interest expense

Non-interest expense for the nine months ended September 30, 2013 decreased $9,137, or 9.8%, to $84,313, compared to $93,450 for the same period in 2012. Components of our non-interest expenses are listed in the table below.

Nine month period ending:	Sept 30, 2013			Sept 30, 2012			$ increase (decrease)			% increase (decrease)
Employee salaries and wages	$	35,975		$	43,652		$	(7,677	)		(17.6	%)
Employee incentive/bonus compensation		3,590			2,906			684			23.5	%
Employee stock based compensation		436			478			(42	)		(8.7	%)
Employer 401K matching contributions		951			908			43			4.8	%
Deferred compensation expense		422			377			45			11.8	%
Health insurance and other employee benefits		2,589			3,107			(518	)		(16.7	%)
Payroll taxes		2,405			2,625			(220	)		(8.4	%)
Other employee related expenses		912			715			197			27.6	%
Incremental direct cost of loan origination		(1,461	)		(551	)		(910	)		165.2	%
Total salaries, wages and employee benefits		45,819			54,217			(8,398	)		(15.5	%)
Loss (gain) on sale of OREO		321			(123	)		444			(361.0	%)
(Gain) loss on sale of FDIC covered OREO		2,093			777			1,316			169.4	%
Valuation write down (recovery) of OREO		975			724			251			34.7	%
Valuation write down of FDIC covered OREO		4,876			2,101			2,775			132.1	%
Loss on repossessed assets other than real estate		385			175			210			120.0	%
Loan put back expense		4			898			(894	)		(99.6	%)
Foreclosure and repossession related expenses		1,255			2,132			(877	)		(41.1	%)
Foreclosure and repo expense, FDIC (note 1)		1,001			949			52			5.5	%
Total credit related expenses		10,910			7,633			3,277			42.9	%
Occupancy expense		5,758			6,788			(1,030	)		(15.2	%)
Depreciation of premises and equipment		4,316			4,148			168			4.1	%
Supplies, stationary and printing		841			879			(38	)		(4.3	%)
Marketing expenses		1,836			1,909			(73	)		(3.8	%)
Data processing expense		2,822			2,857			(35	)		(1.2	%)
Legal, auditing and other professional fees		2,803			1,772			1,031			58.2	%
Bank regulatory related expenses		1,804			1,981			(177	)		(8.9	%)
Postage and delivery		818			869			(51	)		(5.9	%)
Debit, prepaid, ATM and merchant card related expenses		1,388			935			453			48.4	%
CDI and Trust intangible amortization		903			1,029			(126	)		(12.2	%)
Impairment - bank property held for sale		—			614			(614	)		(100.0	%)
Internet and telephone banking		749			710			39			5.5	%
Put-back option amortization		37			546			(509	)		(93.2	%)
Operational write-offs and losses		79			611			(532	)		(87.1	%)
Correspondent accounts and Federal Reserve charges		343			412			(69	)		(16.7	%)
Conferences/Seminars/Education/Training		429			396			33			8.3	%
Director fees		303			271			32			11.8	%
Travel expenses		297			203			94			46.3	%
Other expenses		1,875			2,011			(136	)		(6.8	%)
Subtotal		84,130			90,791			(6,661	)		(7.3	%)
Merger, acquisition and conversion related expenses		183			2,659			(2,476	)		(93.1	%)
Total non-interest expense	$	84,313		$	93,450		$	(9,137	)		(9.8	%)

note 1: These are foreclosure and repossession related expenses related to FDIC covered assets, and are shown net of FDIC reimbursable amounts pursuant to FDIC loss share agreements.

As noted in the table above, employee salaries and wages decreased $7,677 or 17.6% between the two periods presented. This was due primarily to: (1) a decrease in bond sales from our correspondent

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banking division. Our bond salesmen are compensated on a commission basis. When sales volume decreases, as was the case in the current period compared to the comparable period in 2012, their compensation decreases; and, (2) we purchased two failed banks with FDIC assistance in January 2012, adding to our overall operating expenses beginning as of the end of January 2012. However, overall operating expenses have subsequently declined due to our efficiency efforts primarily taking effect in the last two quarters of 2012, which included the consolidation and closing of 15 branches (added one new branch) and the reduction of branch and back office personnel.

Provision for income taxes

We recognized an income tax provision for the nine months ended September 30, 2013 of $4,664 on pre-tax income of $15,107 (an effective tax rate of 30.9%) compared to an income tax provision of $3,281 on pre-tax income of $10,950 (an effective tax rate of 30.0%) for the comparable period in 2012.

Liquidity

Liquidity is defined as the ability to meet anticipated customer demands for funds under credit commitments and deposit withdrawals at a reasonable cost and on a timely basis. We measure liquidity position by giving consideration to both on- and off-balance sheet sources of and demands for funds on a daily and weekly basis.

Our subsidiary bank regularly assesses the amount and likelihood of projected funding requirements through a review of factors such as historical deposit volatility and funding patterns, present and forecasted market and economic conditions, individual client funding needs, and existing and planned business activities. The subsidiary bank’s asset/liability committee (ALCO) provides oversight to the liquidity management process and recommends guidelines, subject to the approval of its board of directors, and courses of action to address actual and projected liquidity needs.

Short term sources of funding and liquidity include cash and cash equivalents, net of federal requirements to maintain reserves against deposit liabilities; investment securities eligible for pledging to secure borrowings from customers pursuant to securities sold under repurchase agreements; loan repayments; deposits and certain interest rate-sensitive deposits; and borrowings under overnight federal fund lines available from correspondent banks. In addition to interest rate-sensitive deposits, the primary demand for liquidity is anticipated fundings under credit commitments to customers.

Off-Balance Sheet Arrangements

We do not have any material off-balance sheet arrangements except for approved and unfunded loans and letters of credit to our customers in the ordinary course of business.

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES: MARKET RISK

Market risk

We believe interest rate risk is the most significant market risk impacting us. We monitor and manage interest rate risk using interest rate sensitivity “gap” analysis to measure the impact of market interest rate changes on net interest income. See our Annual Report on Form 10-K for the fiscal year ended December 31, 2012 for disclosure of the quantitative and qualitative information regarding the interest rate risk inherent in interest rate risk sensitive instruments as of December 31, 2012. There have been no changes in the assumptions used in monitoring interest rate risk as of September 30, 2013. The impact of other types of market risk, such as foreign currency exchange risk and equity price risk, is deemed immaterial.

ITEM 4. CONTROLS AND PROCEDURES

As of the end of the period covered by this report, an evaluation was carried out under the supervision and with the participation of our management, including the Chief Executive Officer (CEO) and Chief Financial Officer (CFO), of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e)). Based on that evaluation, the CEO and CFO have concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in reports that we file or submit under the Securities Exchange Act of 1934 are recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms. There was no change in our internal control over financial reporting (as defined in Rules 13a-15(f) or 15d-15(f)) during the quarter covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 1a. Risk Factors

There has been no material changes in our risk factors from our disclosure in Item 1A of our December 31, 2012 annual report on Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. [Removed and Reserved]

Item 5. Other Information

None.

Item 6. Exhibits

Exhibit 31.1	The Chairman, President and Chief Executive Officer’s certification required under section 302 of the Sarbanes-Oxley Act of 2002
Exhibit 31.2	The Chief Financial Officer’s certification required under section 302 of the Sarbanes-Oxley Act of 2002
Exhibit 32.1	The Chairman, President and Chief Executive Officer’s certification required under section 906 of the Sarbanes-Oxley Act of 2002
Exhibit 32.2	The Chief Financial Officer’s certification required under section 906 of the Sarbanes-Oxley Act of 2002
Exhibit 101.1	Interactive Data File
101.INS	XBRL Instance Document
101.SCH	XBRL Schema Document
101.CAL	XBRL Calculation Linkbase Document
101.DEF	XBRL Definition Linkbase Document
101.LAB	XBRL Label Linkbase Document
101.PRE	XBRL Presentation Linkbase Document

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CENTERSTATE BANKS, INC.

SIGNATURES

In accordance with 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 thereunto duly authorized.

CENTERSTATE BANKS, INC.

(Registrant)

Date:	November 4, 2013	By:	/s/ Ernest S. Pinner
			Ernest S. Pinner
			Chairman, President and Chief Executive Officer
Date:	November 4, 2013	By:	/s/ James J. Antal
			James J. Antal
			Senior Vice President and Chief Financial Officer

62

EX-31.1

Exhibit 31.1

I, Ernest S. Pinner, certify that:

1. I have reviewed this quarterly report on Form 10-Q of CenterState Banks, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 4, 2013	By:	/s/ Ernest S. Pinner
	Ernest S. Pinner, Chairman, President and Chief Executive Officer

EX-31.2

Exhibit 31.2

I, James J. Antal, certify that:

1. I have reviewed this quarterly report on Form 10-Q of CenterState Banks, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

e. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

f. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 4, 2013	By:	/s/ James J. Antal
	James J. Antal, Senior Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION

In connection with the quarterly report of CenterState Banks, Inc. (“Company”) on Form 10-Q for the period ended September 30, 2013 as filed with the Securities and Exchange Commission (“Report”), the undersigned does hereby certify pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: (1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and (2) to the best of my knowledge, the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 4, 2013	By:	/s/ Ernest S. Pinner
		Ernest S. Pinner
		Chairman, President and Chief Executive Officer

EX-32.2

Exhibit 32.2

CERTIFICATION

In connection with the quarterly report of CenterState Banks, Inc. (“Company”) on Form 10-Q for the period ended September 30, 2013 as filed with the Securities and Exchange Commission (“Report”), the undersigned does hereby certify pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: (1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and (2) to the best of my knowledge, the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 4, 2013	By:	/s/ James J. Antal
		James J. Antal
		Senior Vice President and Chief Financial Officer

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Effect of New Pronouncements

9 Months Ended

Sep. 30, 2013

Accounting Changes And Error Corrections [Abstract]

Effect of New Pronouncements

NOTE 9: Effect of new pronouncements

In October 2012, the Financial Accounting Standards Board (“FASB”) issued guidance on the subsequent accounting for an indemnification asset recognized at the acquisition date as a result of a government assisted acquisition of a financial institution. When an entity recognizes such an indemnification asset and subsequently a change in the cash flows expected to be collected on the indemnification asset occurs as a result of a change in the cash flows expected to be collected on the indemnified asset, the guidance requires the entity to recognize the change in the measurement of the indemnification asset on the same basis as the indemnified assets. Any amortization of changes in value of the indemnification asset should be limited to the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets. The amendments are effective for fiscal years beginning on or after December 15, 2012 and early adoption is permitted. The amendments are to be applied prospectively to any new indemnification assets acquired after the date of adoption and to indemnification assets existing as of the date of adoption arising from a government-assisted acquisition of a financial institution. The impact of this amendment on the consolidated financial statements had no effect since the Company’s prior accounting for the indemnification asset was consistent with this standard.

In February 2013, the Financial Accounting Standards Board (FASB) issued updated guidance related to disclosure of reclassification amounts out of other comprehensive income. The standard requires that companies present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. The new requirements will take effect for public companies in fiscal years, and interim periods within those years, beginning after December 15, 2012. The Company adopted this standard on January 1, 2013. The effect of adopting this standard increased our disclosure surrounding reclassification items out of accumulated other comprehensive income.

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Loans - Investment in Residential and Consumer Loans, Excluding Loans from FDIC (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013
Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 449,224
Residential Real Estate [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	438,342
Residential Real Estate [Member] | Nonperforming [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	10,882
Consumer and Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	50,324
Consumer and Other [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	49,867
Consumer and Other [Member] | Nonperforming [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 457

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Condensed Consolidated Statements of Earnings and Comprehensive Income (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended			9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Interest income:
Loans	$ 22,963	$ 20,445		$ 66,188		$ 61,094
Investment securities available for sale:
Taxable	2,560	2,653		7,045		9,086
Tax-exempt	362	361		1,091		1,061
Federal funds sold and other	149	149		575		444
Total interest income	26,034	23,608		74,899		71,685
Interest expense:
Deposits	1,246	1,748		3,959		5,983
Securities sold under agreement to repurchase	21	23		60		68
Federal funds purchased	5	6		16		22
Federal Home Loan Bank advances and other borrowings		4				201
Corporate debentures	152	160		452		481
Total interest expenses	1,424	1,941		4,487		6,755
Net interest income	24,610	21,667		70,412		64,930
Provision for loan losses	(1,273)	2,425		(259)		7,051
Net interest income after loan loss provision	25,883	19,242		70,671		57,879
Non interest income:
Income from correspondent banking and bond sales division	2,909	8,606		13,953		26,356
Other correspondent banking related revenue	862	847		2,432		2,158
Service charges on deposit accounts	2,244	1,695		6,144		4,773
Debit, prepaid, ATM and merchant card related fees	1,399	1,160		4,026		3,381
Wealth management related revenue	1,179	1,000		3,379		2,818
FDIC indemnification income	3,333	2,199		5,357		3,992
FDIC indemnification asset amortization	(3,836)	(671)		(9,307)		(1,556)
Bank owned life insurance income	327	360		1,004		1,081
Other service charges and fees	190	464		723		1,062
Net gain on sale of securities available for sale		675		1,038		2,003
Bargain purchase gain						453
Total other income	8,607	16,335		28,749		46,521
Non interest expense:
Salaries, wages and employee benefits	14,345	17,706		45,819		54,217
Occupancy expense	1,924	2,246		5,758		6,788
Depreciation of premises and equipment	1,364	1,465		4,316		4,148
Supplies, stationary and printing	268	261		841		879
Marketing expenses	722	716		1,836		1,909
Data processing expense	1,026	890		2,822		2,857
Legal, audit and other professional fees	1,176	551		2,803		1,772
Core deposit intangible (CDI) amortization	246	294		749		871
Postage and delivery	266	282		818		869
ATM and debit card related expenses	435	312		1,374		830
Bank regulatory expenses	588	623		1,804		1,981
Loss on sale of repossessed real estate ("OREO")	1,852	153		2,414		654
Valuation write down of repossessed real estate ("OREO")	3,184	1,735		5,851		2,825
Loss on repossessed assets other than real estate	39	37		385		175
Foreclosure related expenses	680	1,919		2,260		3,979
Merger and acquisition related expenses	183	177		183		2,659
Other expenses	1,552	2,339		4,280		6,037
Total other expenses	29,850	31,706		84,313		93,450
Income before provision for income taxes	4,640	3,871		15,107		10,950
Provision for income taxes	1,531	1,229		4,664		3,281
Net income (loss)	3,109	2,642		10,443		7,669
Other comprehensive income, net of tax:
Unrealized securities holding (loss) gain, net of income taxes	(1,608)	2,443		(10,219)		5,172
Less: reclassified adjustments for gain included in net income, net of income taxes, of $0, $400, $254, and $754, respectively		(421)	[1]	(638)	[1]	(1,249)	[1]
Net unrealized (loss) gain on available for sale securities, net of income taxes	(1,608)	2,022		(10,857)		3,923
Total comprehensive income (loss)	$ 1,501	$ 4,664		$ (414)		$ 11,592
Earnings per share:
Basic	$ 0.10	$ 0.09		$ 0.35		$ 0.25
Diluted	$ 0.10	$ 0.09		$ 0.35		$ 0.25
Common shares used in the calculation of earnings per share:
Basic	30,109,728	30,077,933		30,099,509		30,072,008
Diluted	30,243,873	30,142,167		30,216,028		30,136,680

[1] Amounts are included in net gain on sale of securities available for sale in total non interest income. Provision for income taxes associated with the reclassification adjustment for the three and nine month periods ended September 30, 2013 and 2012 was $0, $400, $254 and $754, respectively.

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Common Stock Outstanding and Earnings Per Share Data

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Common Stock Outstanding and Earnings Per Share Data

NOTE 2: Common stock outstanding and earnings per share data

Basic earnings per share is based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share includes the weighted average number of common shares outstanding during the periods and the further dilution from stock options using the treasury method. Average stock options outstanding that were anti dilutive during the three month and nine month periods ending September 30, 2013 and 2012 were 1,040,121, 1,116,739, 1,165,761 and 1,143,888, respectively. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the periods presented.

	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
Numerator for basic and diluted earnings per share:
Net income	$	3,109	$	2,642	$	10,443	$	7,669
Denominator:
Denominator for basic earnings per share
- weighted-average shares		30,109,728		30,077,933		30,099,509		30,072,008
Effect of dilutive securities:
Stock options and stock grants		134,145		64,234		116,519		64,672
Denominator for diluted earnings per share
- adjusted weighted-average shares		30,243,873		30,142,167		30,216,028		30,136,680
Basic earnings per share	$	0.10	$	0.09	$	0.35	$	0.25
Diluted earnings per share	$	0.10	$	0.09	$	0.35	$	0.25

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FDIC Indemnification Asset (Tables)

9 Months Ended

Sep. 30, 2013

Text Block [Abstract]

FDIC Loss Share Indemnification Asset

The activity in the FDIC loss share indemnification asset is as follows:

	Nine month period ended Sept 30, 2013			Twelve month period ended Dec 31, 2012
Beginning of the year	$	119,289		$	50,642
Effect of acquisitions		—			85,088
Amortization, net		(9,307	)		(3,096	)
Indemnification income - ORE		5,420			4,185
Indemnification of foreclosure expense		2,491			2,425
Proceeds from FDIC		(36,227	)		(21,787	)
(Recovery) impairment of loan pool		(63	)		1,832
Period end balance	$	81,603		$	119,289

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FDIC Indemnification Asset - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012 Bank	Dec. 31, 2010 Bank
Fdic Indemnification Asset [Abstract]
Number of acquisitions under agreement		2	3
Percentage of federal deposit insurance corporation reimbursable amount	80.00%
Federal Deposit Insurance Corporation reimbursable expenses	$ 63	$ (1,832)
Cost incurred as a percentage of indemnification revenue	80.00%
Percentage of indemnification of foreclosure expense from FDIC	80.00%

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Effect of New Pronouncements (Policies)

9 Months Ended

Sep. 30, 2013

Accounting Changes And Error Corrections [Abstract]

Guidance on Subsequent Accounting for Indemnification Asset Recognized at Acquisition Date

In October 2012, the Financial Accounting Standards Board (“FASB”) issued guidance on the subsequent accounting for an indemnification asset recognized at the acquisition date as a result of a government assisted acquisition of a financial institution. When an entity recognizes such an indemnification asset and subsequently a change in the cash flows expected to be collected on the indemnification asset occurs as a result of a change in the cash flows expected to be collected on the indemnified asset, the guidance requires the entity to recognize the change in the measurement of the indemnification asset on the same basis as the indemnified assets. Any amortization of changes in value of the indemnification asset should be limited to the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets. The amendments are effective for fiscal years beginning on or after December 15, 2012 and early adoption is permitted. The amendments are to be applied prospectively to any new indemnification assets acquired after the date of adoption and to indemnification assets existing as of the date of adoption arising from a government-assisted acquisition of a financial institution. The impact of this amendment on the consolidated financial statements had no effect since the Company’s prior accounting for the indemnification asset was consistent with this standard.

Reclassification Amounts Out of Other Comprehensive Income

In February 2013, the Financial Accounting Standards Board (FASB) issued updated guidance related to disclosure of reclassification amounts out of other comprehensive income. The standard requires that companies present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. The new requirements will take effect for public companies in fiscal years, and interim periods within those years, beginning after December 15, 2012. The Company adopted this standard on January 1, 2013. The effect of adopting this standard increased our disclosure surrounding reclassification items out of accumulated other comprehensive income.

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Loans - Summary of Impairment by Class of Loans (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Schedule Of Financial Receivables [Line Items]
Average of impaired loans	$ 39,286	$ 46,453	$ 40,924	$ 49,373
Interest income recognized during the period	390	404	1,108	1,273
Cash basis interest income recognized
Residential Real Estate [Member]
Schedule Of Financial Receivables [Line Items]
Average of impaired loans	8,829	10,289	9,014	10,131
Interest income recognized during the period	78	78	222	215
Cash basis interest income recognized
Commercial Real Estate [Member]
Schedule Of Financial Receivables [Line Items]
Average of impaired loans	26,960	29,900	28,134	29,756
Interest income recognized during the period	295	285	840	946
Cash basis interest income recognized
Land, Development, Construction [Member]
Schedule Of Financial Receivables [Line Items]
Average of impaired loans	1,436	2,531	1,423	4,599
Interest income recognized during the period	2	4	10	19
Cash basis interest income recognized
Total Real Estate Loans [Member]
Schedule Of Financial Receivables [Line Items]
Average of impaired loans	37,225	42,720	38,571	44,486
Interest income recognized during the period	375	367	1,072	1,180
Cash basis interest income recognized
Commercial and Industrial [Member]
Schedule Of Financial Receivables [Line Items]
Average of impaired loans	1,710	3,306	1,984	4,432
Interest income recognized during the period	12	34	28	80
Cash basis interest income recognized
Consumer and Other Loans [Member]
Schedule Of Financial Receivables [Line Items]
Average of impaired loans	351	427	369	455
Interest income recognized during the period	3	3	8	13
Cash basis interest income recognized

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FDIC Indemnification Asset - FDIC Loss Share Indemnification Asset (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Fdic Loss Share Indemnification Asset [Abstract]
Beginning of the year			$ 119,289	$ 50,642	$ 50,642
Effect of acquisitions					85,088
Amortization, net	(3,836)	(671)	(9,307)	(1,556)	(3,096)
Indemnification income - ORE			5,420		4,185
Indemnification of foreclosure expense			2,491		2,425
Proceeds from FDIC			(36,227)		(21,787)
(Recovery) impairment of loan pool			(63)		1,832
Period end balance	$ 81,603		$ 81,603		$ 119,289

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Investment Securities Available for Sale - Fair Value of Available for Sale Securities by Contractual Maturity (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Investments [Abstract]
Investment securities available for sale due in one year or less, Fair Value	$ 625
Investment securities available for sale due after one year through five years, Fair Value	1,929
Investment securities available for sale due after five years through ten years, Fair Value	11,594
Investment securities available for sale due after ten years through thirty years, Fair Value	27,273
Investment securities available for sale Mortgage backed securities, Fair Value	415,134
Fair Value	456,555	425,758
Investment securities available for sale due in one year or less, Amortized Cost	625
Investment securities available for sale due after one year through five years, Amortized Cost	1,800
Investment securities available for sale due after five years through ten years, Amortized Cost	11,335
Investment securities available for sale due after ten years through thirty years, Amortized Cost	27,339
Investment securities available for sale Mortgage backed securities, Amortized Cost	421,248
Amortized cost	$ 462,347	$ 414,049

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Common Stock Outstanding and Earnings Per Share Data - Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share Computations (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator for basic and diluted earnings per share:
Net income	$ 3,109	$ 2,642	$ 10,443	$ 7,669
Denominator:
Denominator for basic earnings per share - weighted-average shares	30,109,728	30,077,933	30,099,509	30,072,008
Effect of dilutive securities:
Stock options and stock grants	134,145	64,234	116,519	64,672
Denominator for diluted earnings per share - adjusted weighted-average shares	30,243,873	30,142,167	30,216,028	30,136,680
Basic earnings per share	$ 0.10	$ 0.09	$ 0.35	$ 0.25
Diluted earnings per share	$ 0.10	$ 0.09	$ 0.35	$ 0.25

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Common Stock Outstanding and Earnings Per Share Data - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Abstract]
Anti dilutive stock options	1,040,121	1,116,739	1,165,761	1,143,888

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Loans - Summary of Loans by Class Modified (Detail) (USD $) In Thousands, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2013 SecurityLoan	Dec. 31, 2012 SecurityLoan
Mortgage Loans on Real Estate [Line Items]
Number of loans	10	19
Recorded investment	$ 2,267	$ 3,526
Residential Real Estate [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	3	10
Recorded investment	562	758
Commercial Real Estate [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	5	4
Recorded investment	1,662	2,567
Land, Development, Construction [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans		4
Recorded investment		156
Commercial and Industrial [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	1
Recorded investment	25
Consumer and Other [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	1	1
Recorded investment	$ 18	$ 45

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Reportable Segments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013 Location County Subsidiary
Segment Reporting Measurement Disclosures [Abstract]
Number of non bank subsidiary	1
Number of counties in which company operates	18
Number of bank locations	55

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Loans - Summary of Information Concerning Loan Portfolio by Collateral Types (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Dec. 31, 2011
Receivables with Imputed Interest [Line Items]
Total loans covered by FDIC loss share agreements	$ 242,891		$ 296,295
Total loans, net of allowance for loan losses	1,437,251		1,409,181
Allowance for loan losses for noncovered loans	(21,321)	(23,820)	(26,682)	(26,341)	(25,183)	(27,944)
Loans Not Covered by FDIC Loss Share Agreements [Member]
Receivables with Imputed Interest [Line Items]
Real estate loans, Residential	449,224		428,554
Real estate loans, Commercial	529,172		480,494
Land, development, construction	60,375		55,474
Total real estate	1,038,771		964,522
Commercial	126,451		124,225
Consumer and other loans (note 1)	1,259		2,732
Consumer and other loans	49,065		48,547
Loans before unearned fees and deferred cost	1,215,546		1,140,026
Net unearned fees and costs	135		(458)
Allowance for loan losses for noncovered loans	(19,265)	(21,800)	(24,033)	(24,019)	(23,634)	(27,585)
Net loans not covered by FDIC loss share agreements	1,196,416		1,115,535
Loans Covered by FDIC Loss Share Agreements [Member]
Receivables with Imputed Interest [Line Items]
Real estate loans, Residential	124,027		142,480
Real estate loans, Commercial	109,285		134,413
Land, development, construction	5,673		13,259
Total real estate	238,985		290,152
Commercial	3,906		6,143
Total loans covered by FDIC loss share agreements	242,891		296,295
Allowance for loan losses for covered loans	(2,056)	(2,020)	(2,649)	(2,322)	(1,549)	(359)
Net loans covered by FDIC loss share agreements	$ 240,835		$ 293,646

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Loans - Summary of Nonperforming Loans (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Summary Of Nonperforming Loans [Abstract]
Non accrual loans	$ 21,104	$ 25,448
Loans past due over 90 days and still accruing interest	35	293
Total non performing loans	$ 21,139	$ 25,741

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Fair Value - Carrying Amounts and Estimated Fair Values of Company' s Financial Instruments (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2011
Financial assets:
Cash and cash equivalents	$ 106,816	$ 136,748	$ 103,131	$ 151,095
Cash and cash equivalents, fair value	106,816	136,748
Trading securities, at fair value	398	5,048
Investment securities available for sale, at fair value	456,555	425,758
Federal Home Loan Bank and Federal Reserve Bank stock, at cost	8,179	9,749
Federal Home Loan Bank and Federal Reserve Bank stock, at cost
Loans held for sale, carrying amount	1,317	2,709
Loans held for sale, fair value	1,317	2,709
Loans, less allowance for loan losses, carrying amount	1,437,251	1,409,181
Loans, less allowance for loan losses, fair value	1,438,680	1,324,630
FDIC indemnification asset, carrying amount	81,603	119,289		50,642
FDIC Indemnification asset, fair value
Interest rate swap derivatives, carrying amount assets	712	1,131
Interest rate swap derivatives, assets fair value	712
Accrued interest receivable, carrying amount	6,206	6,100
Accrued interest receivable, fair value	6,206	6,100
Financial liabilities:
Deposits- without stated maturities, carrying amount	1,561,747	1,521,928
Deposits- without stated maturities, fair value	1,561,747	1,521,928
Deposits- with stated maturities, carrying amount	400,208	475,304
Deposits- with stated maturities, fair value	404,692	483,220
Securities sold under agreement to repurchase	22,150	18,792
Securities sold under agreement to repurchase, fair value	22,150	18,792
Federal funds purchased, carrying amount	45,356	38,932
Federal funds purchased, fair value	45,356	38,932
Corporate debentures, carrying amount	16,990	16,970
Corporate debentures, fair value	11,011	8,477
Interest rate swap derivatives, carrying amount	809	2,014
Interest rate swap derivatives, fair value	809	2,014
Accrued interest payable, carrying amount	378	579
Accrued interest payable, fair value	378	579
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets:
Cash and cash equivalents, fair value	106,816	136,748
Federal Home Loan Bank and Federal Reserve Bank stock, at cost
FDIC Indemnification asset, fair value
Financial liabilities:
Deposits- without stated maturities, fair value	1,561,747	1,521,928
Significant Other Observable Inputs (Level 2) [Member]
Financial assets:
Trading securities, at fair value	398	5,048
Investment securities available for sale, at fair value	456,555	425,758
Federal Home Loan Bank and Federal Reserve Bank stock, at cost
Loans held for sale, fair value	1,317	2,709
FDIC Indemnification asset, fair value
Interest rate swap derivatives, assets fair value	712	1,131
Financial liabilities:
Deposits- with stated maturities, fair value	404,692	483,220
Securities sold under agreement to repurchase, fair value	22,150	18,792
Federal funds purchased, fair value	45,356	38,932
Corporate debentures, fair value	11,011
Interest rate swap derivatives, fair value	809	2,014
Accrued interest payable, fair value	378	579
Significant Unobservable Inputs (Level 3) [Member]
Financial assets:
Federal Home Loan Bank and Federal Reserve Bank stock, at cost
Loans, less allowance for loan losses, fair value	1,438,680	1,324,630
FDIC Indemnification asset, fair value
Accrued interest receivable, fair value	6,206	6,100
Financial liabilities:
Corporate debentures, fair value		$ 8,477

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Loans - Summary of Impaired Loan (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Impaired Financing Receivable [Abstract]
Impaired loans with a specific valuation allowance	$ 7,992	$ 10,744
Impaired loans without a specific valuation allowance	31,888	37,435
Total impaired loans	39,880	48,179
Amount of allowance for loan losses allocated to impaired loans	784	1,022
Performing TDRs	11,604	8,841
Non performing TDRs, included in NPLs	4,207	5,819
Total TDRs (TDRs are required to be included in impaired loans)	15,811	14,660
Impaired loans that are not TDRs	24,069	33,519
Total impaired loans	$ 39,880	$ 48,179

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Nature of Operations and Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013 Revenue_Generating_Activities County Location
Nature Of Operations And Basis Of Presentation [Abstract]
Number of service banking locations	55
Number of counties	18
Number of inter-related revenue generating activities	3

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Condensed Consolidated Statements of Changes in Stockholders' Equity (USD $) In Thousands, except Share data	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balances at beginning at Dec. 31, 2011	$ 262,633	$ 301	$ 228,342	$ 28,277	$ 5,713
Balances at beginning, shares at Dec. 31, 2011		30,055,499
Net income	7,669			7,669
Change in unrealized holding gain on available for sale securities, net of deferred income taxes	3,923				3,923
Dividends paid - common ($0.03 per share)	(902)			(902)
Stock grants issued	247		247
Stock grants issued, shares		24,268
Stock based compensation expense	279		279
Balances at ending at Sep. 30, 2012	273,849	301	228,868	35,044	9,636
Balances at ending, shares at Sep. 30, 2012		30,079,767
Balances at beginning at Dec. 31, 2012	273,531	301	228,952	36,979	7,299
Balances at beginning, shares at Dec. 31, 2012	30,079,767	30,079,767
Net income	10,443			10,443
Change in unrealized holding gain on available for sale securities, net of deferred income taxes	(10,857)				(10,857)
Dividends paid - common ($0.03 per share)	(902)			(902)
Stock grants issued	300		300
Stock grants issued, shares		32,708
Stock based compensation expense	226		226
Balances at ending at Sep. 30, 2013	$ 272,741	$ 301	$ 229,478	$ 46,520	$ (3,558)
Balances at ending, shares at Sep. 30, 2013	30,112,475	30,112,475

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Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:
Net income	$ 10,443	$ 7,669
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	(259)	7,051
Depreciation of premises and equipment	4,316	4,148
Accretion of purchase accounting adjustments	(24,785)	(18,752)
Net amortization of investment securities	5,353	6,602
Net deferred loan origination fees	(593)	(117)
Gain on sale of securities available for sale	(1,038)	(2,003)
Trading securities revenue	(212)	(534)
Purchases of trading securities	(171,530)	(272,130)
Proceeds from sale of trading securities	176,392	272,664
Repossessed real estate owned valuation write down	5,851	2,825
Loss on sale of repossessed real estate owned	2,414	654
Repossessed assets other than real estate valuation write down	65	107
Loss on sale of repossessed assets other than real estate	320	68
Gain on sale of loans held for sale	(255)	(172)
Loans originated and held for sale	(15,499)	(11,744)
Proceeds from sale of loans held for sale	17,146	13,950
Loss (gain) on disposal of and or sale of fixed assets	6	(247)
Impairment of bank property held for sale	0	614
Gain on disposal of bank property held for sale	(31)
Deferred income taxes	1,354	2,761
Stock based compensation expense	436	478
Bank owned life insurance income	(1,004)	(1,081)
Bargain purchase gain from acquisition		(453)
Net cash from changes in:
Net changes in accrued interest receivable, prepaid expenses, and other assets	6,600	(2,005)
Net change in accrued interest payable, accrued expense, and other liabilities	1,028	2,988
Net cash provided by operating activities	16,518	13,341
Cash flows from investing activities:
Purchases of investment securities available for sale	(31,133)	(71,513)
Purchases of mortgage backed securities available for sale	(183,002)	(99,503)
Purchases of FHLB and FRB stock		(855)
Proceeds from maturities of investment securities available for sale	165	204
Proceeds from called investment securities available for sale	8,670	75,610
Proceeds from pay-downs of mortgage backed securities available for sale	83,801	94,171
Proceeds from sales of investment securities available for sale	31,201	23,261
Proceeds from sales of mortgage backed securities available for sale	37,691	117,277
Proceeds from sales of FHLB and FRB stock	1,570	4,835
Net (increase) decrease in loans	(25,264)	37,535
Cash received from FDIC loss sharing agreements	36,227	17,139
Purchases of premises and equipment, net	(3,670)	(7,676)
Proceeds from sale of repossessed real estate	22,356	17,385
Proceeds from sale of fixed assets	13	1,154
Proceeds from sale of bank property held for sale	931
Purchase of bank owned life insurance		(10,000)
Net cash from bank acquisitions		81,061
Net cash provided by/(used in) investing activities	(20,444)	280,085
Cash flows from financing activities:
Net decrease in deposits	(34,886)	(338,827)
Net increase in securities sold under agreement to repurchase	3,358	6,389
Net increase (decrease) in federal funds purchased	6,424	(8,050)
Dividends paid	(902)	(902)
Net cash used in financing activities	(26,006)	(341,390)
Net decrease in cash and cash equivalents	(29,932)	(47,964)
Cash and cash equivalents, beginning of period	136,748	151,095
Cash and cash equivalents, end of period	106,816	103,131
Transfer of loans to other real estate owned	23,400	16,843
Cash paid during the period for:
Interest	5,059	8,206
Income taxes	$ 1,745	$ 9

XML

Fair Value

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value

NOTE 3: Fair value

Generally accepted accounting principles establish a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing and asset or liability.

The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs).

The fair values of trading securities are determined as follows: (1) for those securities that have traded prior to the date of the consolidated balance sheet but have not settled (date of sale) until after such date, the sales price is used as the fair value; and, (2) for those securities which have not traded as of the date of the consolidated balance sheet, the fair value was determined by broker price indications of similar or same securities.

The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2). Assets and liabilities measured at fair value on a recurring basis are summarized below.

			Fair value measurements using
	Carrying value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
at September 30, 2013
Assets:
Trading securities	$	398		—	$	398		—
Available for sale securities
U.S. government sponsored entities and agencies		5		—		5		—
Mortgage backed securities		415,134		—		415,134		—
Municipal securities		41,416		—		41,416		—
Interest rate swap derivatives		712		—		712		—
Liabilities: Interest rate swap derivatives		809		—		809		—
at December 31, 2012
Assets:
Trading securities	$	5,048		—	$	5,048		—
Available for sale securities
U.S. government sponsored entities and agencies		7,546		—		7,546		—
Mortgage backed securities		373,190		—		373,190		—
Municipal securities		45,022		—		45,022		—
Interest rate swap derivatives		1,131		—		1,131		—
Liabilities:
Interest rate swap derivatives		2,014		—		2,014		—

The fair value of impaired loans with specific valuation allowance for loan losses and other real estate owned is based on recent real estate appraisals. For residential real estate impaired loans and other real estate owned, appraised values are based on the comparative sales approach. For commercial and commercial real estate impaired loans and other real estate owned, appraisers may use either a single valuation approach or a combination of approaches such as comparative sales, cost or the income approach. A significant unobservable input in the income approach is the estimated income capitalization rate for a given piece of collateral. At September 30, 2013, the range of capitalization rates utilized to determine the fair value of the underlying collateral ranged from 8% to 11%. Adjustments to appraisals may be made by the appraiser to reflect local market conditions or other economic factors and may result in changes in the fair value of a given asset over time. As such, the fair value of impaired loans and other real estate owned are considered a Level 3 in the fair value hierarchy.

Assets and liabilities measured at fair value on a non-recurring basis are summarized below.

			Fair value measurements using
	Carrying value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
at September 30, 2013
Assets:
Impaired loans
Residential real estate	$	2,896		—		—	$	2,896
Commercial real estate		6,174		—		—		6,174
Land, land development and construction		961		—		—		961
Commercial		1,310		—		—		1,310
Consumer		158		—		—		158
Other real estate owned
Residential real estate	$	18		—		—	$	18
Commercial real estate		3,664		—		—		3,664
Land, land development and construction		4,427		—		—		4,427
Bank owned real estate held for sale		1,582		—		—		1,582
at December 31, 2012
Assets:
Impaired loans
Residential real estate	$	837		—		—	$	837
Commercial real estate		8,379		—		—		8,379
Land, land development and construction		1,103		—		—		1,103
Commercial		905		—		—		905
Consumer		84		—		—		84
Other real estate owned
Residential real estate	$	582		—		—	$	582
Commercial real estate		5,933		—		—		5,933
Land, land development and construction		4,445		—		—		4,445
Bank owned real estate held for sale		2,482		—		—		2,482

Impaired loans with specific valuation allowances and/or partial charge-offs had a recorded investment of $12,083 with a valuation allowance of $584, at September 30, 2013, and a recorded investment of $11,678, with a valuation allowance of $370, at December 31, 2012. The Company recorded a provision for loan loss expense of $383 and $781on these loans during the three and nine month periods ending September 30, 2013, respectively.

Other real estate owned had a decline in fair value of $3,184 and $5,851 during the three and nine month period ending September 30, 2013, respectively, and $1,735 and $2,825 during the three and nine month period ending September 30, 2012, respectively. Changes in fair value were recorded directly to current earnings through non interest expense.

Bank owned real estate held for sale represents certain branch office buildings which the Company has closed and consolidated to other existing branches. The real estate was transferred out of the Bank Premises and Equipment category into bank owned property held for sale and included in Prepaid and Other Assets category in the Company’s Condensed Consolidated Balance Sheet during 2012. The real estate was transferred at the lower of amortized cost or fair value less estimated costs to sell. During the current year, one of the properties was sold. The net proceeds from the sale was $931 resulting in a gain on the sale of $31, which was included in other non interest income in the Company’s Condensed Consolidated Statements of Earnings and Comprehensive Income. Impairment charges recognized during the three and nine month periods ending September 30, 2013 and 2012 were $0, $0, $449 and $614, respectively.

Fair Value of Financial Instruments

The methods and assumptions, not previously presented, used to estimate fair value are described as follows:

Cash and Cash Equivalents: The carrying amounts of cash and cash equivalents approximate fair values and are classified as Level 1.

FHLB and FRB Stock: It is not practical to determine the fair value of FHLB and FRB stock due to restrictions placed on their transferability.

Loans held for sale: The fair value of loans held for sale is estimated based upon binding contracts from third party investors resulting in a Level 2 classification.

Loans, net: Fair values of loans, excluding loans held for sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price.

FDIC Indemnification Asset: It is not practical to determine the fair value of the FDIC indemnification asset due to restrictions placed on its transferability.

Accrued Interest Receivable: The carrying amount of accrued interest receivable approximates fair value and is classified as Level 3.

Deposits: The fair values disclosed for demand deposits (e.g., interest and non-interest checking, savings, and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in Level 1 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification.

Short-term Borrowings: The carrying amounts of federal funds purchased, borrowings under repurchase agreements, and other short-term borrowings, generally maturing within ninety days, approximate their fair values resulting in a Level 2 classification.

Corporate Debentures: The fair values of the Company’s corporate debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification.

Accrued Interest Payable: The carrying amount of accrued interest payable approximates fair value resulting in a Level 2 classification.

Off-balance Sheet Instruments: The fair value of off-balance-sheet items is not considered material.

The following table presents the carry amounts and estimated fair values of the Company’s financial instruments:

			Fair value measurements
at September 30, 2013	Carrying amount		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	106,816	$	106,816	$	—	$	—	$	106,816
Trading securities		398		—		398		—		398
Investment securities available for sale		456,555		—		456,555		—		456,555
FHLB and FRB stock		8,179		—		—		—		n/a
Loans held for sale		1,317		—		1,317		—		1,317
Loans, less allowance for loan losses of $21,321		1,437,251		—		—		1,438,680		1,438,680
FDIC indemnification asset		81,603		—		—		—		n/a
Interest rate swap derivatives		712		—		712		—		712
Accrued interest receivable		6,206		—		—		6,206		6,206
Financial liabilities:
Deposits- without stated maturities	$	1,561,747	$	1,561,747	$	—	$	—	$	1,561,747
Deposits- with stated maturities		400,208		—		404,692		—		404,692
Securities sold under agreement to repurchase		22,150		—		22,150		—		22,150
Federal funds purchased		45,356		—		45,356		—		45,356
Corporate debentures		16,990		—		11,011		—		11,011
Interest rate swap derivatives		809		—		809		—		809
Accrued interest payable		378		—		378		—		378

			Fair value measurements
at December 31, 2012	Carrying amount		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	136,748	$	136,748	$	—	$	—	$	136,748
Trading securities		5,048		—		5,048		—		5,048
Investment securities available for sale		425,758		—		425,758		—		425,758
FHLB and FRB stock		9,749		—		—		—		n/a
Loans held for sale		2,709		—		2,709		—		2,709
Loans, less allowance for loan losses of $26,682		1,409,181		—		—		1,324,630		1,324,630
FDIC indemnification asset		119,289		—		—		—		n/a
Interest rate swap derivatives		1,131		—		1,131		—		—
Accrued interest receivable		6,100		—		—		6,100		6,100
Financial liabilities:
Deposits- without stated maturities	$	1,521,928	$	1,521,928	$	—	$	—	$	1,521,928
Deposits- with stated maturities		475,304		—		483,220		—		483,220
Securities sold under agreement to repurchase		18,792		—		18,792		—		18,792
Federal funds purchased		38,932		—		38,932		—		38,932
Corporate debentures		16,970		—		—		8,477		8,477
Interest rate swap derivatives		2,014		—		2,014		—		2,014
Accrued interest payable		579		—		579		—		579

XML

Nature of Operations and Basis of Presentation

9 Months Ended

Sep. 30, 2013

Accounting Policies [Abstract]

Nature of Operations and Basis of Presentation

NOTE 1: Nature of Operations and basis of presentation

Our consolidated financial statements include the accounts of CenterState Banks, Inc. (the “Parent Company,” “Company” or “CSFL”), and our wholly owned subsidiary bank, CenterState Bank of Florida, N.A. (“CenterState”), and our non bank subsidiary, R4ALL, Inc. Our subsidiary bank operates through 55 full service banking locations in 18 counties throughout Florida, providing traditional deposit and lending products and services to its commercial and retail customers. R4ALL, Inc. is a separate non bank subsidiary of CSFL. Its purpose is to purchase troubled loans from our subsidiary bank and manage their eventual disposition.

In addition, we also operate a correspondent banking and bond sales division. The division is integrated with and part of our subsidiary bank located in Winter Haven, Florida, although the majority of our bond salesmen, traders and operational personnel are physically housed in leased facilities located in Birmingham, Alabama, Atlanta, Georgia and Winston Salem, North Carolina. The business lines of this division 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 correspondent bank deposits (i.e. federal funds purchased) and correspondent bank checking account deposits. The third revenue generating category includes fees from safe-keeping activities, bond accounting services for correspondents, asset/liability consulting related activities, international wires, and other clearing and corporate checking account services. The customer base includes small to medium size financial institutions primarily located in the Southeastern United States.

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. These statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2012. In our opinion, all adjustments, consisting primarily of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods have been made. The results of operations of the three month and nine month periods ended September 30, 2013 are not necessarily indicative of the results expected for the full year.

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Loans - Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	$ 23,820	$ 25,183	$ 26,682	$ 27,944
Charge-offs	(1,570)	(2,245)	(5,919)	(10,393)
Recoveries	344	978	817	1,739
Net charge-offs	(1,226)	(1,267)	(5,102)	(8,654)
Provision for loan losses	(1,273)	2,425	(259)	7,051
Balance at end of period	21,321	26,341	21,321	26,341
Loans Covered by FDIC Loss Share Agreements [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period, Covered	2,020	1,549	2,649	359
Charge-offs, Covered			(515)
Recoveries, Covered
Net charge-offs			(515)
Provision for loan losses, Covered	36	773	(78)	1,963
Balance at end of period, Covered	2,056	2,322	2,056	2,322
Loans Covered by FDIC Loss Share Agreements [Member] | Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period, Covered		82		82
Recoveries, Covered
Balance at end of period, Covered		82		82
Loans Covered by FDIC Loss Share Agreements [Member] | Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period, Covered	1,577	1,455	2,335	223
Charge-offs, Covered			(515)
Recoveries, Covered
Provision for loan losses, Covered	(190)	780	(433)	2,012
Balance at end of period, Covered	1,387	2,235	1,387	2,235
Loans Covered by FDIC Loss Share Agreements [Member] | Land, Development, Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period, Covered	130			40
Recoveries, Covered
Provision for loan losses, Covered	(8)		122	(40)
Balance at end of period, Covered	122		122
Loans Covered by FDIC Loss Share Agreements [Member] | Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period, Covered	313	12	314	14
Recoveries, Covered
Provision for loan losses, Covered	234	(7)	233	(9)
Balance at end of period, Covered	547	5	547	5
Loans Not Covered by FDIC Loss Share Agreements [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	21,800	23,634	24,033	27,585
Charge-offs	(1,570)	(2,245)	(5,404)	(10,393)
Recoveries	344	978	817	1,739
Net charge-offs	(1,226)	(1,267)	(4,587)	(8,654)
Provision for loan losses	(1,309)	1,652	(181)	5,088
Balance at end of period	19,265	24,019	19,265	24,019
Loans Not Covered by FDIC Loss Share Agreements [Member] | Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	9,791	4,860	6,831	6,700
Charge-offs	(1,147)	(1,456)	(3,328)	(3,233)
Recoveries	163	182	396	334
Provision for loan losses	844	1,896	5,752	1,681
Balance at end of period	9,651	5,482	9,651	5,482
Loans Not Covered by FDIC Loss Share Agreements [Member] | Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	6,026	8,091	8,272	8,825
Charge-offs	(53)	(179)	(1,127)	(1,758)
Recoveries	42	411	82	834
Provision for loan losses	(1,431)	263	(2,643)	685
Balance at end of period	4,584	8,586	4,584	8,586
Loans Not Covered by FDIC Loss Share Agreements [Member] | Land, Development, Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	4,071	7,868	6,211	9,098
Charge-offs	(127)	(385)	(310)	(4,593)
Recoveries	41	338	161	423
Provision for loan losses	(644)	(719)	(2,721)	2,174
Balance at end of period	3,341	7,102	3,341	7,102
Loans Not Covered by FDIC Loss Share Agreements [Member] | Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	1,064	1,638	1,745	1,984
Charge-offs	(53)	(10)	(112)	(71)
Recoveries	22	4	43	15
Provision for loan losses	(146)	54	(789)	(242)
Balance at end of period	887	1,686	887	1,686
Loans Not Covered by FDIC Loss Share Agreements [Member] | Consumer and Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at beginning of period	848	1,177	974	978
Charge-offs	(190)	(215)	(527)	(738)
Recoveries	76	43	135	133
Provision for loan losses	68	158	220	790
Balance at end of period	$ 802	$ 1,163	$ 802	$ 1,163

XML

Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Assets:
Interest rate swap derivatives, assets	$ 712
Trading securities, at fair value	398	5,048
Available for sale securities	456,555	425,758
Interest rate swap derivatives, carrying amount assets	712	1,131
Liabilities:
Interest rate swap derivatives, carrying amount liability	809	2,014
Interest rate swap derivatives, liabilities	809	2,014
Mortgage Backed Securities [Member]
Assets:
Available for sale securities	415,134	373,190
Municipal Securities [Member]
Assets:
Available for sale securities	41,416	45,022
Fair Value Measurements on Recurring [Member]
Assets:
Trading securities, at fair value	398	5,048
Interest rate swap derivatives, carrying amount assets	712	1,131
Liabilities:
Interest rate swap derivatives, carrying amount liability	809	2,014
Fair Value Measurements on Recurring [Member] | Obligations of U.S. Government Sponsored Entities and Agencies [Member]
Assets:
Available for sale securities	5	7,546
Fair Value Measurements on Recurring [Member] | Mortgage Backed Securities [Member]
Assets:
Available for sale securities	415,134	373,190
Fair Value Measurements on Recurring [Member] | Municipal Securities [Member]
Assets:
Available for sale securities	41,416	45,022
Fair Value Measurements on Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets:
Interest rate swap derivatives, assets
Trading securities, at fair value
Liabilities:
Interest rate swap derivatives, liabilities
Fair Value Measurements on Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Obligations of U.S. Government Sponsored Entities and Agencies [Member]
Assets:
Available for sale securities
Fair Value Measurements on Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage Backed Securities [Member]
Assets:
Available for sale securities
Fair Value Measurements on Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Municipal Securities [Member]
Assets:
Available for sale securities
Fair Value Measurements on Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Interest rate swap derivatives, assets	712	1,131
Trading securities, at fair value	398	5,048
Liabilities:
Interest rate swap derivatives, liabilities	809	2,014
Fair Value Measurements on Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Obligations of U.S. Government Sponsored Entities and Agencies [Member]
Assets:
Available for sale securities	5	7,546
Fair Value Measurements on Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage Backed Securities [Member]
Assets:
Available for sale securities	415,134	373,190
Fair Value Measurements on Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Municipal Securities [Member]
Assets:
Available for sale securities	41,416	45,022
Fair Value Measurements on Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets:
Interest rate swap derivatives, assets
Trading securities, at fair value
Liabilities:
Interest rate swap derivatives, liabilities
Fair Value Measurements on Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Obligations of U.S. Government Sponsored Entities and Agencies [Member]
Assets:
Available for sale securities
Fair Value Measurements on Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Backed Securities [Member]
Assets:
Available for sale securities
Fair Value Measurements on Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Municipal Securities [Member]
Assets:
Available for sale securities

XML

Fair Value - Carrying Amounts and Estimated Fair Values of Company' s Financial Instruments (Parenthetical) (Detail) (USD $) In Thousands, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Fair Value Disclosures [Abstract]
Deduction of Allowance for loan losses from loans	$ 21,321	$ 26,682

XML

Investment Securities Available for Sale - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	9 Months Ended		12 Months Ended
	Sep. 30, 2013 Security	Sep. 30, 2012	Dec. 31, 2012 Security
Investments [Abstract]
Tax provision related to net realized gains	$ 400	$ 754
Securities estimated fair value	$ 108,871		$ 108,737
Percentage of mortgage-backed securities held from U.S. government-sponsored entities and agencies	10.00%		10.00%
Number of securities representing specified criteria	0		0
Percentage of AFS securities held by any one issuer as a percentage of stockholders' equity	100.00%

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Loans - Summary of Changes in Total Contractually Required Principle and Interest Cash Payments (Detail) (USD $) In Thousands, unless otherwise specified			3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended
	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013 Carry Value of Acquired Loans [Member]	Sep. 30, 2012 Carry Value of Acquired Loans [Member]	Sep. 30, 2013 Carry Value of Acquired Loans [Member]	Sep. 30, 2012 Carry Value of Acquired Loans [Member]	Sep. 30, 2013 Accretable Yield [Member]	Sep. 30, 2012 Accretable Yield [Member]	Sep. 30, 2013 Accretable Yield [Member]	Sep. 30, 2012 Accretable Yield [Member]	Sep. 30, 2013 Cash Flows Expected to be Collected [Member]	Sep. 30, 2012 Cash Flows Expected to be Collected [Member]	Sep. 30, 2013 Cash Flows Expected to be Collected [Member]	Sep. 30, 2012 Cash Flows Expected to be Collected [Member]	Sep. 30, 2013 Non-Accretable Difference [Member]	Sep. 30, 2012 Non-Accretable Difference [Member]	Sep. 30, 2013 Non-Accretable Difference [Member]	Sep. 30, 2012 Non-Accretable Difference [Member]	Sep. 30, 2013 Contractually Required Principal and Interest [Member]	Sep. 30, 2012 Contractually Required Principal and Interest [Member]	Sep. 30, 2013 Contractually Required Principal and Interest [Member]	Sep. 30, 2012 Contractually Required Principal and Interest [Member]
Financing Receivable, Recorded Investment [Line Items]
Contractually required principal and interest, beginning balance	$ 416,565	$ 534,989																	$ 449,146	$ 594,439	$ 534,989	$ 291,531
Non-accretable difference, beginning balance	(71,810)	(142,855)													(90,060)	(164,756)	(142,855)	(51,536)
Cash flows expected to be collected, beginning balance	344,755	392,134									359,086	429,683	392,134	239,995
Accretable yield, beginning balance	100,605	93,107					(99,407)	(100,286)	(93,107)	(74,552)
Carrying value of acquired loans, beginning balance	244,150	299,027	259,679	329,397	299,027	165,443
Effect of acquisitions						204,525				(32,975)				237,500				(125,630)				363,130
Income accretion			8,988	6,208	24,835	17,955	8,988	6,208	24,835	17,955
All other adjustments			(24,517)	(23,864)	(79,712)	(76,182)	(10,186)	(11,334)	(32,333)	(15,840)	(14,331)	(12,530)	(47,379)	(60,342)	18,250	5,415	71,045	17,825	(32,581)	(17,945)	(118,424)	(78,167)
Contractually required principal and interest, ending balance	416,565	534,989																	416,565	576,494	416,565	576,494
Non-accretable difference, ending balance	(71,810)	(142,855)													(71,810)	(159,341)	(71,810)	(159,341)
Cash flows expected to be collected, ending balance	344,755	392,134									344,755	417,153	344,755	417,153
Accretable yield, ending balance	100,605	93,107					(100,605)	(105,412)	(100,605)	(105,412)
Carrying value of acquired loans, ending balance	$ 244,150	$ 299,027	$ 244,150	$ 311,741	$ 244,150	$ 311,741

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Loans - Summary of Recorded Investment in Nonaccrual Loans and Loans Past Due Over 90 Days Still on Accrual by Class of Loans (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual, Total	$ 21,104	$ 25,448
Loans past due over 90 days still accruing, Total	35	293
Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual, Total	10,882	9,993
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual, Total	7,263	11,459
Land, Development, Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual, Total	1,247	2,032
Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual, Total	1,290	1,650
Consumer and Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual, Total	422	314
Loans past due over 90 days still accruing, Total	$ 35	$ 293

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Loans - Troubled Debt Restructured Loans by Loans Type (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Financing Receivable Modifications Number Of Contracts [Line Items]
Performing TDRs	$ 11,604	$ 8,841
Non performing TDRs	4,207	5,819
Total TDRs	15,811	14,660
Residential Real Estate [Member]
Financing Receivable Modifications Number Of Contracts [Line Items]
Performing TDRs	6,936	6,446
Non performing TDRs	1,546	1,778
Total TDRs	8,482	8,224
Commercial Real Estate [Member]
Financing Receivable Modifications Number Of Contracts [Line Items]
Performing TDRs	3,538	1,589
Non performing TDRs	2,496	3,701
Total TDRs	6,034	5,290
Land, Development, Construction [Member]
Financing Receivable Modifications Number Of Contracts [Line Items]
Performing TDRs	429	202
Non performing TDRs		231
Total TDRs	429	433
Total Real Estate Loans [Member]
Financing Receivable Modifications Number Of Contracts [Line Items]
Performing TDRs	10,903	8,237
Non performing TDRs	4,042	5,710
Total TDRs	14,945	13,947
Commercial [Member]
Financing Receivable Modifications Number Of Contracts [Line Items]
Performing TDRs	469	315
Non performing TDRs	40	5
Total TDRs	509	320
Consumer and Other [Member]
Financing Receivable Modifications Number Of Contracts [Line Items]
Performing TDRs	232	289
Non performing TDRs	125	104
Total TDRs	$ 357	$ 393

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Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	30,112,475	30,079,767
Common stock, shares outstanding	30,112,475	30,079,767

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Loans

9 Months Ended

Sep. 30, 2013

Receivables [Abstract]

Loans

NOTE 6: Loans

The following table sets forth information concerning the loan portfolio by collateral types as of the dates indicated.

	Sept 30, 2013			Dec 31, 2012
Loans not covered by FDIC loss share agreements
Real estate loans
Residential	$	449,224		$	428,554
Commercial		529,172			480,494
Land, development and construction		60,375			55,474
Total real estate		1,038,771			964,522
Commercial		126,451			124,225
Consumer and other loans (note 1)		1,259			2,732
Consumer and other loans		49,065			48,547
Loans before unearned fees and deferred cost		1,215,546			1,140,026
Net unearned fees and costs		135			(458	)
Allowance for loan losses for noncovered loans		(19,265	)		(24,033	)
Net loans not covered by FDIC loss share agreements		1,196,416			1,115,535
Loans covered by FDIC loss share agreements
Real estate loans
Residential		124,027			142,480
Commercial		109,285			134,413
Land, development and construction		5,673			13,259
Total real estate		238,985			290,152
Commercial		3,906			6,143
		242,891			296,295
Allowance for loan losses for covered loans		(2,056	)		(2,649	)
Net loans covered by FDIC loss share agreements		240,835			293,646
Total loans, net of allowance for loan losses	$	1,437,251		$	1,409,181

note 1: Consumer loans acquired pursuant to three FDIC assisted transactions of failed financial institutions during the third quarter of 2010 and two in the first quarter of 2012. These loans are not covered by an FDIC loss share agreement. The loans are being accounted for pursuant to ASC Topic 310-30.

The tables below set forth the activity in the allowance for loan losses for the periods presented.

	Loans not covered by FDIC loss share agreements			Loans covered by FDIC loss share agreements			Total
Three months ended September 30, 2013
Balance at beginning of period	$	21,800		$	2,020		$	23,820
Loans charged-off		(1,570	)		—			(1,570	)
Recoveries of loans previously charged-off		344			—			344
Net charge-offs		(1,226	)		—			(1,226	)
(Recovery) provision for loan losses		(1,309	)		36			(1,273	)
Balance at end of period	$	19,265		$	2,056		$	21,321
Nine months ended September 30, 2013
Balance at beginning of period	$	24,033		$	2,649		$	26,682
Loans charged-off		(5,404	)		(515	)		(5,919	)
Recoveries of loans previously charged-off		817			—			817
Net charge-offs		(4,587	)		(515	)		(5,102	)
(Recovery) provision for loan losses		(181	)		(78	)		(259	)
Balance at end of period	$	19,265		$	2,056		$	21,321
Three months ended September 30, 2012
Balance at beginning of period	$	23,634		$	1,549		$	25,183
Loans charged-off		(2,245	)		—			(2,245	)
Recoveries of loans previously charged-off		978			—			978
Net charge-offs		(1,267	)		—			(1,267	)
Provision for loan losses		1,652			773			2,425
Balance at end of period	$	24,019		$	2,322		$	26,341
Nine months ended September 30, 2012
Balance at beginning of period	$	27,585		$	359		$	27,944
Loans charged-off		(10,393	)		—			(10,393	)
Recoveries of loans previously charged-off		1,739			—			1,739
Net charge-offs		(8,654	)		—			(8,654	)
Provision for loan losses		5,088			1,963			7,051
Balance at end of period	$	24,019		$	2,322		$	26,341

The following tables present the activity in the allowance for loan losses for loans not covered by FDIC loss share agreements by portfolio segment for the periods presented.

	Real Estate Loans
	Residential			Commercial			Land, develop., constr.			Comm. & industrial			Consumer & other			Total
Loans not covered by FDIC loss share agreements:
Three months ended September 30, 2013
Beginning of the period	$	9,791		$	6,026		$	4,071		$	1,064		$	848		$	21,800
Charge-offs		(1,147	)		(53	)		(127	)		(53	)		(190	)		(1,570	)
Recoveries		163			42			41			22			76			344
Provision for loan losses		844			(1,431	)		(644	)		(146	)		68			(1,309	)
Balance at end of period	$	9,651		$	4,584		$	3,341		$	887		$	802		$	19,265
Nine months ended September 30, 2013
Beginning of the period	$	6,831		$	8,272		$	6,211		$	1,745		$	974		$	24,033
Charge-offs		(3,328	)		(1,127	)		(310	)		(112	)		(527	)		(5,404	)
Recoveries		396			82			161			43			135			817
Provision for loan losses		5,752			(2,643	)		(2,721	)		(789	)		220			(181	)
Balance at end of period	$	9,651		$	4,584		$	3,341		$	887		$	802		$	19,265
Three months ended September 30, 2012
Beginning of the period	$	4,860		$	8,091		$	7,868		$	1,638		$	1,177		$	23,634
Charge-offs		(1,456	)		(179	)		(385	)		(10	)		(215	)		(2,245	)
Recoveries		182			411			338			4			43			978
Provision for loan losses		1,896			263			(719	)		54			158			1,652
Balance at end of period	$	5,482		$	8,586		$	7,102		$	1,686		$	1,163		$	24,019
Nine months ended September 30, 2012
Beginning of the period	$	6,700		$	8,825		$	9,098		$	1,984		$	978		$	27,585
Charge-offs		(3,233	)		(1,758	)		(4,593	)		(71	)		(738	)		(10,393	)
Recoveries		334			834			423			15			133			1,739
Provision for loan losses		1,681			685			2,174			(242	)		790			5,088
Balance at end of period	$	5,482		$	8,586		$	7,102		$	1,686		$	1,163		$	24,019

The following tables present the activity in the allowance for loan losses for loans covered by FDIC loss share agreements by portfolio segment for the periods presented.

	Real Estate Loans
	Residential		Commercial			Land, develop., constr.			Comm. & industrial			Total
Loans covered by FDIC loss share agreements:
Three months ended September 30, 2013
Beginning of the period	$	—	$	1,577		$	130		$	313		$	2,020
Charge-offs		—		—			—			—			—
Recoveries		—		—			—			—			—
Provision for loan losses		—		(190	)		(8	)		234			36
Balance at end of period	$	—	$	1,387		$	122		$	547		$	2,056
Nine months ended September 30, 2013
Beginning of the period	$	—	$	2,335		$	—		$	314		$	2,649
Charge-offs		—		(515	)		—			—			(515	)
Recoveries		—		—			—			—			—
Provision for loan losses		—		(433	)		122			233			(78	)
Balance at end of period	$	—	$	1,387		$	122		$	547		$	2,056
Three months ended September 30, 2012
Beginning of the period	$	82	$	1,455		$	—		$	12		$	1,549
Charge-offs		—		—			—			—			—
Recoveries		—		—			—			—			—
Provision for loan losses		—		780			—			(7	)		773
Balance at end of period	$	82	$	2,235		$	—		$	5		$	2,322
Nine months ended September 30, 2012
Beginning of the period	$	82	$	223		$	40		$	14		$	359
Charge-offs		—		—			—			—			—
Recoveries		—		—			—			—			—
Provision for loan losses		—		2,012			(40	)		(9	)		1,963
Balance at end of period	$	82	$	2,235		$	—		$	5		$	2,322

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of September 30, 2013 and December 31, 2012. Accrued interest receivable and unearned loan fees and costs are not included in the recorded investment because they are not material.

	Real Estate Loans
As of September 30, 2013	Residential		Commercial		Land, develop., constr.		Comm. & industrial		Consumer & other		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	429	$	263	$	57	$	8	$	27	$	784
Collectively evaluated for impairment		9,222		4,321		3,284		879		775		18,481
Acquired with deteriorated credit quality		—		1,387		122		547		—		2,056
Total ending allowance balance	$	9,651	$	5,971	$	3,463	$	1,434	$	802	$	21,321
Loans:
Loans individually evaluated for impairment	$	9,054	$	27,246	$	1,391	$	1,831	$	358	$	39,880
Loans collectively evaluated for impairment		440,170		501,926		58,984		124,620		48,707		1,174,407
Loans acquired with deteriorated credit quality		124,027		109,285		5,673		3,906		1,259		244,150
Total ending loan balances	$	573,251	$	638,457	$	66,048	$	130,357	$	50,324	$	1,458,437

	Real Estate Loans
As of December 31, 2012	Residential		Commercial		Land, develop., constr.		Comm. & industrial		Consumer & other		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	610	$	277	$	107	$	1	$	27	$	1,022
Collectively evaluated for impairment		6,221		7,995		6,104		1,744		947		23,011
Acquired with deteriorated credit quality		—		2,335		—		314		—		2,649
Total ending allowance balance	$	6,831	$	10,607	$	6,211	$	2,059	$	974	$	26,682
Loans:
Loans individually evaluated for impairment	$	9,936	$	32,860	$	1,520	$	3,470	$	393	$	48,179
Loans collectively evaluated for impairment		418,618		447,634		53,954		120,755		48,154		1,089,115
Loans acquired with deteriorated credit quality		142,480		134,413		13,259		6,143		2,732		299,027
Total ending loan balance	$	571,034	$	614,907	$	68,733	$	130,368	$	51,279	$	1,436,321

The table below summarizes impaired loan data for the periods presented.

	Sept 30, 2013		Dec 31, 2012
Impaired loans with a specific valuation allowance	$	7,992	$	10,744
Impaired loans without a specific valuation allowance		31,888		37,435
Total impaired loans	$	39,880	$	48,179
Amount of allowance for loan losses allocated to impaired loans	$	784	$	1,022
Performing TDRs	$	11,604	$	8,841
Non performing TDRs, included in NPLs		4,207		5,819
Total TDRs (TDRs are required to be included in impaired loans)	$	15,811	$	14,660
Impaired loans that are not TDRs		24,069		33,519
Total impaired loans	$	39,880	$	48,179

In this current real estate environment it has become more common to restructure or modify the terms of certain loans under certain conditions (i.e. troubled debt restructure or “TDRs”). In those circumstances it may be beneficial to restructure the terms of a loan and work with the borrower for the benefit of both parties, versus forcing the property into foreclosure and having to dispose of it in an unfavorable real estate market. When we have modified the terms of a loan, we usually either reduce the monthly payment and/or interest rate for generally twelve to twenty-four months. We have not forgiven any material principal amounts on any loan modifications to date. We have approximately $15,811 of TDRs. Of this amount $11,604 are performing pursuant to their modified terms, and $4,207 are not performing and have been placed on non accrual status and included in our non performing loans (“NPLs”).

TDRs as of September 30, 2013 and December 31, 2012 quantified by loan type classified separately as accrual (performing loans) and non-accrual (non performing loans) are presented in the tables below.

As of September 30, 2013	Accruing		Non Accrual		Total
Real estate loans:
Residential	$	6,936	$	1,546	$	8,482
Commercial		3,538		2,496		6,034
Land, development, construction		429		—		429
Total real estate loans		10,903		4,042		14,945
Commercial		469		40		509
Consumer and other		232		125		357
Total TDRs	$	11,604	$	4,207	$	15,811

As of December 31, 2012	Accruing		Non-Accrual		Total
Real estate loans:
Residential	$	6,446	$	1,778	$	8,224
Commercial		1,589		3,701		5,290
Land, development, construction		202		231		433
Total real estate loans		8,237		5,710		13,947
Commercial		315		5		320
Consumer and other		289		104		393
Total TDRs	$	8,841	$	5,819	$	14,660

Our policy is to return non accrual TDR loans to accrual status when all the principal and interest amounts contractually due, pursuant to its modified terms, are brought current and future payments are reasonably assured. Our policy also considers the payment history of the borrower, but is not dependent upon a specific number of payments. The Company recorded a provision for loan loss expense of $426 and $748 and partial charge offs of $219 and $445 on the TDR loans described above during the three and nine month period ending September 30, 2013.

Loans are modified to minimize loan losses when we believe the modification will improve the borrower’s financial condition and ability to repay the loan. We typically do not forgive principal. We generally either reduce interest rates or decrease monthly payments for a temporary period of time and those reductions of cash flows are capitalized into the loan balance. We may also extend maturities, convert balloon loans to longer term amortizing loans, or vice versa, or change interest rates between variable and fixed rate. Each borrower and situation is unique and we try to accommodate the borrower and minimize the Company’s potential losses. Approximately 73% of our TDRs are current pursuant to their modified terms, and about $4,207, or approximately 27% of our total TDRs are not performing pursuant to their modified terms. There does not appear to be any significant difference in success rates with one type of concession versus another.

The following table presents loans by class modified and for which there was a payment default within twelve months following the modification during the period ending September 30, 2013 and December 31, 2012.

	Period ending				Year ending
	September 30, 2013				December 31, 2012
	Number		Recorded		Number		Recorded
	of loans		investment		of loans		investment
Residential		3	$	562		10	$	758
Commercial real estate		5		1,662		4		2,567
Land, development, construction		—		—		4		156
Commercial and Industrial		1		25		—		—
Consumer and other		1		18		1		45
Total		10	$	2,267		19	$	3,526

The Company recorded a provision for loan loss expense of $172 and $332 and partial charge offs of $59 and $176 on TDR loans that subsequently defaulted as described above during the three and nine month period ending September 30, 2013, respectively.

The following tables present loans individually evaluated for impairment by class of loans as of September 30, 2013 and December 31, 2012. The recorded investment is less than the unpaid principal balance due to partial charge-offs.

As of September 30, 2013	Unpaid principal balance		Recorded investment		Allowance for loan losses allocated
With no related allowance recorded:
Residential real estate	$	5,539	$	5,448	$	—
Commercial real estate		25,749		23,892		—
Land, development, construction		1,760		911		—
Commercial and industrial		1,728		1,631		—
Consumer, other		6		6		—
With an allowance recorded:
Residential real estate		3,910		3,606		429
Commercial real estate		3,533		3,354		263
Land, development, construction		494		480		57
Commercial and industrial		245		200		8
Consumer, other		364		352		27
Total	$	43,328	$	39,880	$	784

As of December 31, 2012	Unpaid principal balance		Recorded investment		Allowance for loan losses allocated
With no related allowance recorded:
Residential real estate	$	1,712	$	1,712	$	—
Commercial real estate		33,789		31,171		—
Land, development, construction		2,042		1,087		—
Commercial and industrial		3,556		3,465		—
With an allowance recorded:
Residential real estate		8,624		8,224		610
Commercial real estate		1,742		1,689		277
Land, development, construction		664		433		107
Commercial and industrial		5		5		1
Consumer, other		395		393		27
Total	$	52,529	$	48,179	$	1,022

Three month period ending September, 30, 2013	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	8,829	$	78	$	—
Commercial		26,960		295		—
Land, development, construction		1,436		2		—
Total real estate loans		37,225		375		—
Commercial and industrial		1,710		12		—
Consumer and other loans		351		3		—
Total	$	39,286	$	390	$	—

Nine month period ending September 30, 2013	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	9,014	$	222	$	—
Commercial		28,134		840		—
Land, development, construction		1,423		10		—
Total real estate loans		38,571		1,072		—
Commercial and industrial		1,984		28		—
Consumer and other loans		369		8		—
Total	$	40,924	$	1,108	$	—

Three month period ending September, 30, 2012	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	10,289	$	78	$	—
Commercial		29,900		285		—
Land, development, construction		2,531		4		—
Total real estate loans		42,720		367		—
Commercial and industrial		3,306		34		—
Consumer and other loans		427		3		—
Total	$	46,453	$	404	$	—

Nine month period ending September 30, 2012	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	10,131	$	215	$	—
Commercial		29,756		946		—
Land, development, construction		4,599		19		—
Total real estate loans		44,486		1,180		—
Commercial and industrial		4,432		80		—
Consumer and other loans		455		13		—
Total	$	49,373	$	1,273	$	—

Nonperforming loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans.

Nonperforming loans were as follows:	Sept 30, 2013		Dec 31, 2012
Non accrual loans	$	21,104	$	25,448
Loans past due over 90 days and still accruing interest		35		293
Total non performing loans	$	21,139	$	25,741

The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans as of September 30, 2013 and December 31, 2012, excluding loans acquired from the FDIC with evidence of credit deterioration and covered by FDIC loss share agreements:

As of September 30, 2013	Nonaccrual		Loans past due over 90 days still accruing
Residential real estate	$	10,882	$	—
Commercial real estate		7,263		—
Land, development, construction		1,247		—
Commercial		1,290		—
Consumer, other		422		35
Total	$	21,104	$	35

As of December 31, 2012	Nonaccrual		Loans past due over 90 days still accruing
Residential real estate	$	9,993	$	—
Commercial real estate		11,459		—
Land, development, construction		2,032		—
Commercial		1,650		—
Consumer, other		314		293
Total	$	25,448	$	293

The following table presents the aging of the recorded investment in past due loans as of September 30, 2013 and December 31, 2012, excluding loans acquired from the FDIC with evidence of credit deterioration and covered by FDIC loss share agreements:

	Accruing Loans
As of September 30, 2013	Total		30 - 59 days past due		60 - 89 days past due		Greater than 90 days past due		Total Past Due		Loans Not Past Due		Nonaccrual Loans
Residential real estate	$	449,224	$	3,136	$	1,623	$	—	$	4,759	$	433,583	$	10,882
Commercial real estate		529,172		2,642		342		—		2,984		518,925		7,263
Land/dev/construction		60,375		109		618		—		727		58,401		1,247
Commercial		126,451		264		69		—		333		124,828		1,290
Consumer		50,324		209		149		35		393		49,509		422
	$	1,215,546	$	6,360	$	2,801	$	35	$	9,196	$	1,185,246	$	21,104

	Accruing Loans
As of December 31, 2012	Total		30 - 59 days past due		60 - 89 days past due		Greater than 90 days past due		Total Past Due		Loans Not Past Due		Nonaccrual Loans
Residential real estate	$	428,554	$	1,632	$	677	$	—	$	2,309	$	416,252	$	9,993
Commercial real estate		480,494		1,663		1,147		—		2,810		466,225		11,459
Land/dev/construction		55,474		115		624		—		739		52,703		2,032
Commercial		124,225		203		416		—		619		121,956		1,650
Consumer		51,279		456		489		293		1,238		49,727		314
	$	1,140,026	$	4,069	$	3,353	$	293	$	7,715		1,106,863	$	25,448

Credit Quality Indicators:

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes loans with an outstanding balance greater than $500 that are non-homogeneous loans, such as commercial, commercial real estate, land, land development and construction loans. This analysis is performed on at least an annual basis. The Company uses the following definitions for risk ratings:

Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Loans listed as not rated are either less than $500 or are included in groups of homogeneous loans. As of September 30, 2013 and December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans, excluding loans with evidence of deterioration of credit quality purchased from the FDIC and covered by FDIC loss share agreements, is as follows:

	As of September 30, 2013
Loan Category	Pass		Special Mention		Substandard		Doubtful
Residential real estate	$	420,235	$	6,511	$	22,478	$	—
Commercial real estate		435,312		59,217		34,643		—
Land/dev/construction		46,689		10,765		2,921		—
Commercial		117,529		4,825		4,097		—
Consumer		48,970		554		800		—
	$	1,068,735	$	81,872	$	64,939	$	—

	As of December 31, 2012
Loan Category	Pass		Special Mention		Substandard		Doubtful
Residential real estate	$	400,244	$	4,797	$	23,513	$	—
Commercial real estate		394,238		44,933		41,323		—
Land/dev/construction		39,650		11,994		3,830		—
Commercial		114,067		3,978		6,180		—
Consumer		49,894		613		772		—
	$	998,093	$	66,315	$	75,618	$	—

The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For residential and consumer loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in residential and consumer loans, excluding loans covered by FDIC loss share agreements, based on payment activity as of September 30, 2013:

	Residential		Consumer
Performing	$	438,342	$	49,867
Nonperforming		10,882		457
Total	$	449,224	$	50,324

Purchased Credit Impaired Loans:

Income recognized on loans we purchased from the FDIC is recognized pursuant to ASC Topic 310-30. A portion of the fair value discount has been ascribed as an accretable yield that is accreted into interest income over the estimated remaining life of the loans. The remaining non-accretable difference represents cash flows not expected to be collected.

The table below summarizes the total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the loans as of September 30, 2013 and December 31, 2012. Contractually required principal and interest payments have been adjusted for estimated prepayments.

	Sept 30, 2013			Dec 31, 2012
Contractually required principal and interest	$	416,565		$	534,989
Non-accretable difference		(71,810	)		(142,855	)
Cash flows expected to be collected		344,755			392,134
Accretable yield		(100,605	)		(93,107	)
Carrying value of acquired loans	$	244,150		$	299,027
Allowance for loan losses		(2,056	)		(2,649	)
Carrying value less allowance for loan losses	$	242,094		$	296,378

We adjusted our estimates of future expected losses, cash flows and renewal assumptions during the current quarter. These adjustments resulted in an increase in expected cash flows and accretable yield, and a decrease in the non-accretable difference. We reclassified approximately $10,894 and $30,811 from non-accretable difference to accretable yield during the three and nine month period ending September 30, 2013, respectively, to reflect our adjusted estimates of future expected cash flows. The table below summarizes the changes in total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the loans during the three and nine month period ending September 30, 2013 and 2012.

Activity during the three month period ending September 30, 2013	June 30, 2013			income accretion		all other adjustments			Sept 30, 2013
Contractually required principal and interest	$	449,146				$	(32,581	)	$	416,565
Non-accretable difference		(90,060	)				18,250			(71,810	)
Cash flows expected to be collected		359,086					(14,331	)		344,755
Accretable yield		(99,407	)		8,988		(10,186	)		(100,605	)
Carry value of acquired loans	$	259,679		$	8,988	$	(24,517	)	$	244,150

Activity during the nine month period ending September 30, 2013	Dec 31,  2012			income accretion		all other adjustments			Sept 30, 2013
Contractually required principal and interest	$	534,989				$	(118,424	)	$	416,565
Non-accretable difference		(142,855	)				71,045			(71,810	)
Cash flows expected to be collected		392,134					(47,379	)		344,755
Accretable yield		(93,107	)		24,835		(32,333	)		(100,605	)
Carry value of acquired loans	$	299,027		$	24,835	$	(79,712	)	$	244,150

Activity during the three month period ending September 30, 2012	June 30, 2012			Effect of acquisitions		income accretion		all other adjustments			Sept 30, 2012
Contractually required principal and interest	$	594,439						$	(17,945	)	$	576,494
Non-accretable difference		(164,756	)						5,415			(159,341	)
Cash flows expected to be collected		429,683							(12,530	)		417,153
Accretable yield		(100,286	)				6,208		(11,334	)		(105,412	)
Carry value of acquired loans	$	329,397		$	—	$	6,208	$	(23,864	)	$	311,741

Activity during the nine month period ending September 30, 2012	Dec 31, 2011			Effect of acquisitions			income accretion		all other adjustments			Sept 30, 2012
Contractually required principal and interest	$	291,531		$	363,130				$	(78,167	)	$	576,494
Non-accretable difference		(51,536	)		(125,630	)				17,825			(159,341	)
Cash flows expected to be collected		239,995			237,500					(60,342	)		417,153
Accretable yield		(74,552	)		(32,975	)		17,955		(15,840	)		(105,412	)
Carry value of acquired loans	$	165,443		$	204,525		$	17,955	$	(76,182	)	$	311,741

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Condensed Consolidated Statements of Earnings and Comprehensive Income (Parenthetical) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Statement [Abstract]
Reclassifications of gain included in net income, income taxes	$ 0	$ 400	$ 254	$ 754

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Announced Acquisitions - Additional Information (Detail) (Gulfstream Bancshares, Inc. [Member], USD $) In Thousands, except Share data, unless otherwise specified	9 Months Ended
	Sep. 30, 2013
Gulfstream Bancshares, Inc. [Member]
Business Acquisition [Line Items]
Total consolidated assets	$ 563,644
Total consolidated loans	372,615
Total consolidated deposits	$ 471,287
Number of shares entitled to be received by GS common stock	3.012
Cash entitled to be received by GS common stock	$ 14.65

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Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
ASSETS
Cash and due from banks	$ 21,216	$ 19,160
Federal funds sold and Federal Reserve Bank deposits	85,600	117,588
Cash and cash equivalents	106,816	136,748
Trading securities, at fair value	398	5,048
Investment securities available for sale, at fair value	456,555	425,758
Loans held for sale, at lower of cost or fair value	1,317	2,709
Loans covered by FDIC loss share agreements	242,891	296,295
Loans, excluding those covered by FDIC loss share agreements	1,215,681	1,139,568
Allowance for loan losses	(21,321)	(26,682)
Net Loans	1,437,251	1,409,181
Bank premises and equipment, net	97,289	97,954
Accrued interest receivable	6,206	6,100
Federal Home Loan Bank and Federal Reserve Bank stock, at cost	8,179	9,749
Goodwill	44,924	44,924
Core deposit intangible	5,196	5,944
Trust intangible	1,209	1,363
Bank owned life insurance	48,961	47,957
Other repossessed real estate owned covered by FDIC loss share agreements	21,633	26,783
Other repossessed real estate owned	4,804	6,875
FDIC indemnification asset	81,603	119,289
Deferred income tax asset, net	3,392
Prepaid expense and other assets	10,288	16,858
TOTAL ASSETS	2,336,021	2,363,240
Deposits:
Demand - non-interest bearing	562,027	519,510
Demand - interest bearing	452,583	452,961
Savings and money market accounts	547,137	549,457
Time deposits	400,208	475,304
Total deposits	1,961,955	1,997,232
Securities sold under agreement to repurchase	22,150	18,792
Federal funds purchased	45,356	38,932
Corporate debentures	16,990	16,970
Accrued interest payable	378	579
Deferred income tax liability, net		1,892
Payables and accrued expenses	16,451	15,312
Total liabilities	2,063,280	2,089,709
Stockholders' equity:
Common stock, $.01 par value: 100,000,000 shares authorized; 30,112,475 and 30,079,767 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively	301	301
Additional paid-in capital	229,478	228,952
Retained earnings	46,520	36,979
Accumulated other comprehensive (loss) income	(3,558)	7,299
Total stockholders' equity	272,741	273,531
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,336,021	$ 2,363,240

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Loans - Summary Aging of Recorded Investment in Past Due Loans (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 1,215,546	$ 1,140,026
30 - 59 days past due	6,360	4,069
60 - 89 days past due	2,801	3,353
Greater than 90 days past due	35	293
Total Past Due	9,196	7,715
Loans Not Past Due	1,185,246	1,106,863
Nonaccrual loans	21,104	25,448
Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	449,224	428,554
30 - 59 days past due	3,136	1,632
60 - 89 days past due	1,623	677
Total Past Due	4,759	2,309
Loans Not Past Due	433,583	416,252
Nonaccrual loans	10,882	9,993
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	529,172	480,494
30 - 59 days past due	2,642	1,663
60 - 89 days past due	342	1,147
Total Past Due	2,984	2,810
Loans Not Past Due	518,925	466,225
Nonaccrual loans	7,263	11,459
Land, Development, Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	60,375	55,474
30 - 59 days past due	109	115
60 - 89 days past due	618	624
Total Past Due	727	739
Loans Not Past Due	58,401	52,703
Nonaccrual loans	1,247	2,032
Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	126,451	124,225
30 - 59 days past due	264	203
60 - 89 days past due	69	416
Total Past Due	333	619
Loans Not Past Due	124,828	121,956
Nonaccrual loans	1,290	1,650
Consumer and Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	50,324	51,279
30 - 59 days past due	209	456
60 - 89 days past due	149	489
Greater than 90 days past due	35	293
Total Past Due	393	1,238
Loans Not Past Due	49,509	49,727
Nonaccrual loans	$ 422	$ 314

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Fair Value - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impaired loans with allocated allowance for loan losses	$ 12,083		$ 12,083		$ 11,678
Impaired valuation allowance	584		584		370
Provision for loan loss expense	383		781
Additions charged to expenses	3,184	1,735	5,851	2,825
Proceeds from sale of bank property held for sale			931
Gain on disposal of bank property held for sale			31
Total impairment charges	$ 0	$ 449	$ 0	$ 614
Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization rates to determine fair value of collateral	8.00%		8.00%
Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization rates to determine fair value of collateral	11.00%		11.00%

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Loans (Tables)

9 Months Ended

Sep. 30, 2013

Receivables [Abstract]

Summary of Information Concerning Loan Portfolio by Collateral Types

The following table sets forth information concerning the loan portfolio by collateral types as of the dates indicated.

	Sept 30, 2013			Dec 31, 2012
Loans not covered by FDIC loss share agreements
Real estate loans
Residential	$	449,224		$	428,554
Commercial		529,172			480,494
Land, development and construction		60,375			55,474
Total real estate		1,038,771			964,522
Commercial		126,451			124,225
Consumer and other loans (note 1)		1,259			2,732
Consumer and other loans		49,065			48,547
Loans before unearned fees and deferred cost		1,215,546			1,140,026
Net unearned fees and costs		135			(458	)
Allowance for loan losses for noncovered loans		(19,265	)		(24,033	)
Net loans not covered by FDIC loss share agreements		1,196,416			1,115,535
Loans covered by FDIC loss share agreements
Real estate loans
Residential		124,027			142,480
Commercial		109,285			134,413
Land, development and construction		5,673			13,259
Total real estate		238,985			290,152
Commercial		3,906			6,143
		242,891			296,295
Allowance for loan losses for covered loans		(2,056	)		(2,649	)
Net loans covered by FDIC loss share agreements		240,835			293,646
Total loans, net of allowance for loan losses	$	1,437,251		$	1,409,181

note 1: Consumer loans acquired pursuant to three FDIC assisted transactions of failed financial institutions during the third quarter of 2010 and two in the first quarter of 2012. These loans are not covered by an FDIC loss share agreement. The loans are being accounted for pursuant to ASC Topic 310-30.

Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio

The tables below set forth the activity in the allowance for loan losses for the periods presented.

	Loans not covered by FDIC loss share agreements			Loans covered by FDIC loss share agreements			Total
Three months ended September 30, 2013
Balance at beginning of period	$	21,800		$	2,020		$	23,820
Loans charged-off		(1,570	)		—			(1,570	)
Recoveries of loans previously charged-off		344			—			344
Net charge-offs		(1,226	)		—			(1,226	)
(Recovery) provision for loan losses		(1,309	)		36			(1,273	)
Balance at end of period	$	19,265		$	2,056		$	21,321
Nine months ended September 30, 2013
Balance at beginning of period	$	24,033		$	2,649		$	26,682
Loans charged-off		(5,404	)		(515	)		(5,919	)
Recoveries of loans previously charged-off		817			—			817
Net charge-offs		(4,587	)		(515	)		(5,102	)
(Recovery) provision for loan losses		(181	)		(78	)		(259	)
Balance at end of period	$	19,265		$	2,056		$	21,321
Three months ended September 30, 2012
Balance at beginning of period	$	23,634		$	1,549		$	25,183
Loans charged-off		(2,245	)		—			(2,245	)
Recoveries of loans previously charged-off		978			—			978
Net charge-offs		(1,267	)		—			(1,267	)
Provision for loan losses		1,652			773			2,425
Balance at end of period	$	24,019		$	2,322		$	26,341
Nine months ended September 30, 2012
Balance at beginning of period	$	27,585		$	359		$	27,944
Loans charged-off		(10,393	)		—			(10,393	)
Recoveries of loans previously charged-off		1,739			—			1,739
Net charge-offs		(8,654	)		—			(8,654	)
Provision for loan losses		5,088			1,963			7,051
Balance at end of period	$	24,019		$	2,322		$	26,341

	Real Estate Loans
	Residential			Commercial			Land, develop., constr.			Comm. & industrial			Consumer & other			Total
Loans not covered by FDIC loss share agreements:
Three months ended September 30, 2013
Beginning of the period	$	9,791		$	6,026		$	4,071		$	1,064		$	848		$	21,800
Charge-offs		(1,147	)		(53	)		(127	)		(53	)		(190	)		(1,570	)
Recoveries		163			42			41			22			76			344
Provision for loan losses		844			(1,431	)		(644	)		(146	)		68			(1,309	)
Balance at end of period	$	9,651		$	4,584		$	3,341		$	887		$	802		$	19,265
Nine months ended September 30, 2013
Beginning of the period	$	6,831		$	8,272		$	6,211		$	1,745		$	974		$	24,033
Charge-offs		(3,328	)		(1,127	)		(310	)		(112	)		(527	)		(5,404	)
Recoveries		396			82			161			43			135			817
Provision for loan losses		5,752			(2,643	)		(2,721	)		(789	)		220			(181	)
Balance at end of period	$	9,651		$	4,584		$	3,341		$	887		$	802		$	19,265
Three months ended September 30, 2012
Beginning of the period	$	4,860		$	8,091		$	7,868		$	1,638		$	1,177		$	23,634
Charge-offs		(1,456	)		(179	)		(385	)		(10	)		(215	)		(2,245	)
Recoveries		182			411			338			4			43			978
Provision for loan losses		1,896			263			(719	)		54			158			1,652
Balance at end of period	$	5,482		$	8,586		$	7,102		$	1,686		$	1,163		$	24,019
Nine months ended September 30, 2012
Beginning of the period	$	6,700		$	8,825		$	9,098		$	1,984		$	978		$	27,585
Charge-offs		(3,233	)		(1,758	)		(4,593	)		(71	)		(738	)		(10,393	)
Recoveries		334			834			423			15			133			1,739
Provision for loan losses		1,681			685			2,174			(242	)		790			5,088
Balance at end of period	$	5,482		$	8,586		$	7,102		$	1,686		$	1,163		$	24,019

	Real Estate Loans
	Residential		Commercial			Land, develop., constr.			Comm. & industrial			Total
Loans covered by FDIC loss share agreements:
Three months ended September 30, 2013
Beginning of the period	$	—	$	1,577		$	130		$	313		$	2,020
Charge-offs		—		—			—			—			—
Recoveries		—		—			—			—			—
Provision for loan losses		—		(190	)		(8	)		234			36
Balance at end of period	$	—	$	1,387		$	122		$	547		$	2,056
Nine months ended September 30, 2013
Beginning of the period	$	—	$	2,335		$	—		$	314		$	2,649
Charge-offs		—		(515	)		—			—			(515	)
Recoveries		—		—			—			—			—
Provision for loan losses		—		(433	)		122			233			(78	)
Balance at end of period	$	—	$	1,387		$	122		$	547		$	2,056
Three months ended September 30, 2012
Beginning of the period	$	82	$	1,455		$	—		$	12		$	1,549
Charge-offs		—		—			—			—			—
Recoveries		—		—			—			—			—
Provision for loan losses		—		780			—			(7	)		773
Balance at end of period	$	82	$	2,235		$	—		$	5		$	2,322
Nine months ended September 30, 2012
Beginning of the period	$	82	$	223		$	40		$	14		$	359
Charge-offs		—		—			—			—			—
Recoveries		—		—			—			—			—
Provision for loan losses		—		2,012			(40	)		(9	)		1,963
Balance at end of period	$	82	$	2,235		$	—		$	5		$	2,322

Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of September 30, 2013 and December 31, 2012. Accrued interest receivable and unearned loan fees and costs are not included in the recorded investment because they are not material.

	Real Estate Loans
As of September 30, 2013	Residential		Commercial		Land, develop., constr.		Comm. & industrial		Consumer & other		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	429	$	263	$	57	$	8	$	27	$	784
Collectively evaluated for impairment		9,222		4,321		3,284		879		775		18,481
Acquired with deteriorated credit quality		—		1,387		122		547		—		2,056
Total ending allowance balance	$	9,651	$	5,971	$	3,463	$	1,434	$	802	$	21,321
Loans:
Loans individually evaluated for impairment	$	9,054	$	27,246	$	1,391	$	1,831	$	358	$	39,880
Loans collectively evaluated for impairment		440,170		501,926		58,984		124,620		48,707		1,174,407
Loans acquired with deteriorated credit quality		124,027		109,285		5,673		3,906		1,259		244,150
Total ending loan balances	$	573,251	$	638,457	$	66,048	$	130,357	$	50,324	$	1,458,437

	Real Estate Loans
As of December 31, 2012	Residential		Commercial		Land, develop., constr.		Comm. & industrial		Consumer & other		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	610	$	277	$	107	$	1	$	27	$	1,022
Collectively evaluated for impairment		6,221		7,995		6,104		1,744		947		23,011
Acquired with deteriorated credit quality		—		2,335		—		314		—		2,649
Total ending allowance balance	$	6,831	$	10,607	$	6,211	$	2,059	$	974	$	26,682
Loans:
Loans individually evaluated for impairment	$	9,936	$	32,860	$	1,520	$	3,470	$	393	$	48,179
Loans collectively evaluated for impairment		418,618		447,634		53,954		120,755		48,154		1,089,115
Loans acquired with deteriorated credit quality		142,480		134,413		13,259		6,143		2,732		299,027
Total ending loan balance	$	571,034	$	614,907	$	68,733	$	130,368	$	51,279	$	1,436,321

Summary of Impaired Loan

The table below summarizes impaired loan data for the periods presented.

	Sept 30, 2013		Dec 31, 2012
Impaired loans with a specific valuation allowance	$	7,992	$	10,744
Impaired loans without a specific valuation allowance		31,888		37,435
Total impaired loans	$	39,880	$	48,179
Amount of allowance for loan losses allocated to impaired loans	$	784	$	1,022
Performing TDRs	$	11,604	$	8,841
Non performing TDRs, included in NPLs		4,207		5,819
Total TDRs (TDRs are required to be included in impaired loans)	$	15,811	$	14,660
Impaired loans that are not TDRs		24,069		33,519
Total impaired loans	$	39,880	$	48,179

Troubled Debt Restructured Loans by Loans Type

TDRs as of September 30, 2013 and December 31, 2012 quantified by loan type classified separately as accrual (performing loans) and non-accrual (non performing loans) are presented in the tables below.

As of September 30, 2013	Accruing		Non Accrual		Total
Real estate loans:
Residential	$	6,936	$	1,546	$	8,482
Commercial		3,538		2,496		6,034
Land, development, construction		429		—		429
Total real estate loans		10,903		4,042		14,945
Commercial		469		40		509
Consumer and other		232		125		357
Total TDRs	$	11,604	$	4,207	$	15,811

As of December 31, 2012	Accruing		Non-Accrual		Total
Real estate loans:
Residential	$	6,446	$	1,778	$	8,224
Commercial		1,589		3,701		5,290
Land, development, construction		202		231		433
Total real estate loans		8,237		5,710		13,947
Commercial		315		5		320
Consumer and other		289		104		393
Total TDRs	$	8,841	$	5,819	$	14,660

Summary of Loans by Class Modified

The following table presents loans by class modified and for which there was a payment default within twelve months following the modification during the period ending September 30, 2013 and December 31, 2012.

	Period ending				Year ending
	September 30, 2013				December 31, 2012
	Number		Recorded		Number		Recorded
	of loans		investment		of loans		investment
Residential		3	$	562		10	$	758
Commercial real estate		5		1,662		4		2,567
Land, development, construction		—		—		4		156
Commercial and Industrial		1		25		—		—
Consumer and other		1		18		1		45
Total		10	$	2,267		19	$	3,526

Summary of Loans Individually Evaluated for Impairment by Class of Loans

The following tables present loans individually evaluated for impairment by class of loans as of September 30, 2013 and December 31, 2012. The recorded investment is less than the unpaid principal balance due to partial charge-offs.

As of September 30, 2013	Unpaid principal balance		Recorded investment		Allowance for loan losses allocated
With no related allowance recorded:
Residential real estate	$	5,539	$	5,448	$	—
Commercial real estate		25,749		23,892		—
Land, development, construction		1,760		911		—
Commercial and industrial		1,728		1,631		—
Consumer, other		6		6		—
With an allowance recorded:
Residential real estate		3,910		3,606		429
Commercial real estate		3,533		3,354		263
Land, development, construction		494		480		57
Commercial and industrial		245		200		8
Consumer, other		364		352		27
Total	$	43,328	$	39,880	$	784

As of December 31, 2012	Unpaid principal balance		Recorded investment		Allowance for loan losses allocated
With no related allowance recorded:
Residential real estate	$	1,712	$	1,712	$	—
Commercial real estate		33,789		31,171		—
Land, development, construction		2,042		1,087		—
Commercial and industrial		3,556		3,465		—
With an allowance recorded:
Residential real estate		8,624		8,224		610
Commercial real estate		1,742		1,689		277
Land, development, construction		664		433		107
Commercial and industrial		5		5		1
Consumer, other		395		393		27
Total	$	52,529	$	48,179	$	1,022

Summary of Impairment by Class of Loans

Three month period ending September, 30, 2013	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	8,829	$	78	$	—
Commercial		26,960		295		—
Land, development, construction		1,436		2		—
Total real estate loans		37,225		375		—
Commercial and industrial		1,710		12		—
Consumer and other loans		351		3		—
Total	$	39,286	$	390	$	—

Nine month period ending September 30, 2013	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	9,014	$	222	$	—
Commercial		28,134		840		—
Land, development, construction		1,423		10		—
Total real estate loans		38,571		1,072		—
Commercial and industrial		1,984		28		—
Consumer and other loans		369		8		—
Total	$	40,924	$	1,108	$	—

Three month period ending September, 30, 2012	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	10,289	$	78	$	—
Commercial		29,900		285		—
Land, development, construction		2,531		4		—
Total real estate loans		42,720		367		—
Commercial and industrial		3,306		34		—
Consumer and other loans		427		3		—
Total	$	46,453	$	404	$	—

Nine month period ending September 30, 2012	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Real estate loans:
Residential	$	10,131	$	215	$	—
Commercial		29,756		946		—
Land, development, construction		4,599		19		—
Total real estate loans		44,486		1,180		—
Commercial and industrial		4,432		80		—
Consumer and other loans		455		13		—
Total	$	49,373	$	1,273	$	—

Summary of Nonperforming Loans

Nonperforming loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans.

Nonperforming loans were as follows:	Sept 30, 2013		Dec 31, 2012
Non accrual loans	$	21,104	$	25,448
Loans past due over 90 days and still accruing interest		35		293
Total non performing loans	$	21,139	$	25,741

Summary of Recorded Investment in Nonaccrual Loans and Loans Past Due Over 90 Days Still on Accrual by Class of Loans

The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans as of September 30, 2013 and December 31, 2012, excluding loans acquired from the FDIC with evidence of credit deterioration and covered by FDIC loss share agreements:

As of September 30, 2013	Nonaccrual		Loans past due over 90 days still accruing
Residential real estate	$	10,882	$	—
Commercial real estate		7,263		—
Land, development, construction		1,247		—
Commercial		1,290		—
Consumer, other		422		35
Total	$	21,104	$	35

As of December 31, 2012	Nonaccrual		Loans past due over 90 days still accruing
Residential real estate	$	9,993	$	—
Commercial real estate		11,459		—
Land, development, construction		2,032		—
Commercial		1,650		—
Consumer, other		314		293
Total	$	25,448	$	293

Summary Aging of Recorded Investment in Past Due Loans

The following table presents the aging of the recorded investment in past due loans as of September 30, 2013 and December 31, 2012, excluding loans acquired from the FDIC with evidence of credit deterioration and covered by FDIC loss share agreements:

	Accruing Loans
As of September 30, 2013	Total		30 - 59 days past due		60 - 89 days past due		Greater than 90 days past due		Total Past Due		Loans Not Past Due		Nonaccrual Loans
Residential real estate	$	449,224	$	3,136	$	1,623	$	—	$	4,759	$	433,583	$	10,882
Commercial real estate		529,172		2,642		342		—		2,984		518,925		7,263
Land/dev/construction		60,375		109		618		—		727		58,401		1,247
Commercial		126,451		264		69		—		333		124,828		1,290
Consumer		50,324		209		149		35		393		49,509		422
	$	1,215,546	$	6,360	$	2,801	$	35	$	9,196	$	1,185,246	$	21,104

	Accruing Loans
As of December 31, 2012	Total		30 - 59 days past due		60 - 89 days past due		Greater than 90 days past due		Total Past Due		Loans Not Past Due		Nonaccrual Loans
Residential real estate	$	428,554	$	1,632	$	677	$	—	$	2,309	$	416,252	$	9,993
Commercial real estate		480,494		1,663		1,147		—		2,810		466,225		11,459
Land/dev/construction		55,474		115		624		—		739		52,703		2,032
Commercial		124,225		203		416		—		619		121,956		1,650
Consumer		51,279		456		489		293		1,238		49,727		314
	$	1,140,026	$	4,069	$	3,353	$	293	$	7,715		1,106,863	$	25,448

Risk Category of Loans by Class of Loans, Excluding Loans Acquired from FDIC

As of September 30, 2013 and December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans, excluding loans with evidence of deterioration of credit quality purchased from the FDIC and covered by FDIC loss share agreements, is as follows:

	As of September 30, 2013
Loan Category	Pass		Special Mention		Substandard		Doubtful
Residential real estate	$	420,235	$	6,511	$	22,478	$	—
Commercial real estate		435,312		59,217		34,643		—
Land/dev/construction		46,689		10,765		2,921		—
Commercial		117,529		4,825		4,097		—
Consumer		48,970		554		800		—
	$	1,068,735	$	81,872	$	64,939	$	—

	As of December 31, 2012
Loan Category	Pass		Special Mention		Substandard		Doubtful
Residential real estate	$	400,244	$	4,797	$	23,513	$	—
Commercial real estate		394,238		44,933		41,323		—
Land/dev/construction		39,650		11,994		3,830		—
Commercial		114,067		3,978		6,180		—
Consumer		49,894		613		772		—
	$	998,093	$	66,315	$	75,618	$	—

Investment in Residential and Consumer Loans, Excluding Loans from FDIC

The following table presents the recorded investment in residential and consumer loans, excluding loans covered by FDIC loss share agreements, based on payment activity as of September 30, 2013:

	Residential		Consumer
Performing	$	438,342	$	49,867
Nonperforming		10,882		457
Total	$	449,224	$	50,324

Summary of Total Contractually Required Principal and Interest Cash Payments, Management's Estimate of Expected Total Cash Payments and Carrying Value of Loans

The table below summarizes the total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the loans as of September 30, 2013 and December 31, 2012. Contractually required principal and interest payments have been adjusted for estimated prepayments.

	Sept 30, 2013			Dec 31, 2012
Contractually required principal and interest	$	416,565		$	534,989
Non-accretable difference		(71,810	)		(142,855	)
Cash flows expected to be collected		344,755			392,134
Accretable yield		(100,605	)		(93,107	)
Carrying value of acquired loans	$	244,150		$	299,027
Allowance for loan losses		(2,056	)		(2,649	)
Carrying value less allowance for loan losses	$	242,094		$	296,378

Summary of Changes in Total Contractually Required Principal and Interest Cash Payments

The table below summarizes the changes in total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the loans during the three and nine month period ending September 30, 2013 and 2012.

Activity during the three month period ending September 30, 2013	June 30, 2013			income accretion		all other adjustments			Sept 30, 2013
Contractually required principal and interest	$	449,146				$	(32,581	)	$	416,565
Non-accretable difference		(90,060	)				18,250			(71,810	)
Cash flows expected to be collected		359,086					(14,331	)		344,755
Accretable yield		(99,407	)		8,988		(10,186	)		(100,605	)
Carry value of acquired loans	$	259,679		$	8,988	$	(24,517	)	$	244,150

Activity during the nine month period ending September 30, 2013	Dec 31,  2012			income accretion		all other adjustments			Sept 30, 2013
Contractually required principal and interest	$	534,989				$	(118,424	)	$	416,565
Non-accretable difference		(142,855	)				71,045			(71,810	)
Cash flows expected to be collected		392,134					(47,379	)		344,755
Accretable yield		(93,107	)		24,835		(32,333	)		(100,605	)
Carry value of acquired loans	$	299,027		$	24,835	$	(79,712	)	$	244,150

Activity during the three month period ending September 30, 2012	June 30, 2012			Effect of acquisitions		income accretion		all other adjustments			Sept 30, 2012
Contractually required principal and interest	$	594,439						$	(17,945	)	$	576,494
Non-accretable difference		(164,756	)						5,415			(159,341	)
Cash flows expected to be collected		429,683							(12,530	)		417,153
Accretable yield		(100,286	)				6,208		(11,334	)		(105,412	)
Carry value of acquired loans	$	329,397		$	—	$	6,208	$	(23,864	)	$	311,741

Activity during the nine month period ending September 30, 2012	Dec 31, 2011			Effect of acquisitions			income accretion		all other adjustments			Sept 30, 2012
Contractually required principal and interest	$	291,531		$	363,130				$	(78,167	)	$	576,494
Non-accretable difference		(51,536	)		(125,630	)				17,825			(159,341	)
Cash flows expected to be collected		239,995			237,500					(60,342	)		417,153
Accretable yield		(74,552	)		(32,975	)		17,955		(15,840	)		(105,412	)
Carry value of acquired loans	$	165,443		$	204,525		$	17,955	$	(76,182	)	$	311,741

XML

Loans - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012
Debt Disclosure [Abstract]
Loans modification, modified terms allowance period minimum		12 months
Loans modification, modified terms allowance period maximum		24 months
Troubled debt restructured loans total	$ 15,811	$ 15,811
Performing troubled debt restructured loans	11,604	11,604	8,841
Non performing TDRs, included in NPLs	4,207	4,207	5,819
Provision for loan loss expense	426	748
Partial charge offs for troubled debt restructured	219	445
Percentage of troubled debt restructured current pursuant to modified terms		73.00%
Percentage of troubled debt restructured not performing pursuant to their modified terms		27.00%
Provision for loan loss expense within twelve months	172	332
Partial charge offs for troubled debt restructured	59	176
Loans at credit risk outstanding	500	500
Pass rated loans less than the amount	500	500
Non-accretable expected cash flows	$ 10,894	$ 30,811

XML

Loans - Summary of Total Contractually Required Principle and Interest Cash Payments, Management's Estimate of Expected Total Cash Payments and Carrying Value of Loans (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Loans Acquired Accounted For As Debt Securities General Items [Abstract]
Contractually required principal and interest	$ 416,565	$ 534,989
Non-accretable difference	(71,810)	(142,855)
Cash flows expected to be collected	344,755	392,134
Accretable yield	(100,605)	(93,107)
Carrying value of acquired loans	244,150	299,027
Allowance for loan losses	(2,056)	(2,649)
Carrying value less allowance for loan losses	$ 242,094	$ 296,378

XML

Investment Securities Available for Sale - Investments Gross Unrealized Losses and Fair Value (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Obligations of U.S. Government Sponsored Entities and Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value
Less than 12 months, Unrealized Losses
12 months or more, Fair Value
12 months or more, Unrealized Losses
Total, Fair Value
Total, Unrealized Losses
Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value	235,856	30,840
Less than 12 months, Unrealized Losses	10,979	71
12 months or more, Fair Value
12 months or more, Unrealized Losses
Total, Fair Value	235,856	30,840
Total, Unrealized Losses	10,979	71
Municipal Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value	11,591	2,180
Less than 12 months, Unrealized Losses	612	52
12 months or more, Fair Value
12 months or more, Unrealized Losses
Total, Fair Value	11,591	2,180
Total, Unrealized Losses	612	52
Total Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value	247,447	33,020
Less than 12 months, Unrealized Losses	11,591	123
12 months or more, Fair Value
12 months or more, Unrealized Losses
Total, Fair Value	247,447	33,020
Total, Unrealized Losses	$ 11,591	$ 123

XML

Investment Securities Available for Sale - Fair Value of Available for Sale Securities and Related Gross Unrealized Gains and Losses Recognized in Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 462,347	$ 414,049
Gross Unrealized Gains	5,799	11,832
Gross Unrealized Losses	11,591	123
Fair Value	456,555	425,758
Obligations of U.S. Government Sponsored Entities and Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	5	7,465
Gross Unrealized Gains		81
Fair Value	5	7,546
Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	421,248	364,014
Gross Unrealized Gains	4,865	9,247
Gross Unrealized Losses	10,979	71
Fair Value	415,134	373,190
Municipal Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	41,094	42,570
Gross Unrealized Gains	934	2,504
Gross Unrealized Losses	612	52
Fair Value	$ 41,416	$ 45,022

XML

Investment Securities Available for Sale - Schedule of Sales of Available for Sale Securities (Detail) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Investments [Abstract]
Proceeds	$ 68,892	$ 140,537
Gross gains	1,038	2,285
Gross losses		$ 282

XML

Investment Securities Available for Sale

9 Months Ended

Sep. 30, 2013

Investments Debt And Equity Securities [Abstract]

Investment Securities Available for Sale

NOTE 5: Investment Securities Available for Sale

All of the mortgage backed securities listed below were issued by U.S. government sponsored entities and agencies, primarily Fannie Mae, Freddie Mac and Ginnie Mae, institutions which the government has affirmed its commitment to support. The fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:

	September 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Obligations of U.S. government sponsored entities and agencies	$	5	$	—	$	—	$	5
Mortgage backed securities		421,248		4,865		10,979		415,134
Municipal securities		41,094		934		612		41,416
Total	$	462,347	$	5,799	$	11,591	$	456,555

	December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Obligations of U.S. government sponsored entities and agencies	$	7,465	$	81	$	—	$	7,546
Mortgage backed securities		364,014		9,247		71		373,190
Municipal securities		42,570		2,504		52		45,022
Total	$	414,049	$	11,832	$	123	$	425,758

The cost of securities sold is determined using the specific identification method. Sales of available for sale securities were as follows:

For the nine months ended:	Sept 30, 2013		Sept 30, 2012
Proceeds	$	68,892	$	140,537
Gross gains		1,038		2,285
Gross losses		—		282

The tax provision related to these net realized gains was $400 and $754, respectively.

The fair value of available for sale securities at September 30, 2013 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.

	Fair Value		Amortized Cost
Investment securities available for sale
Due in one year or less	$	625	$	625
Due after one year through five years		1,929		1,800
Due after five years through ten years		11,594		11,335
Due after ten years through thirty years		27,273		27,339
Mortgage backed securities		415,134		421,248
	$	456,555	$	462,347

Securities pledged at September 30, 2013 and December 31, 2012 had a carrying amount (estimated fair value) of $108,871 and $108,737 respectively. These securities were pledged primarily to secure public deposits and repurchase agreements.

At September 30, 2013 and December 31, 2012, there were no holdings of securities of any one issuer, other than mortgage backed securities issued by U.S. Government sponsored entities and agencies, in an amount greater than 10% of stockholders’ equity.

The following tables show the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2013 and December 31, 2012.

	September 30, 2013
	Less than 12 months				12 months or more				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. government sponsored entities and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities		235,856		10,979		—		—		235,856		10,979
Municipal securities		11,591		612		—		—		11,591		612
Total temporarily impaired securities	$	247,447	$	11,591	$	—	$	—	$	247,447	$	11,591

	December 31, 2012
	Less than 12 months				12 months or more				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. government sponsored entities and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities		30,840		71		—		—		30,840		71
Municipal securities		2,180		52		—		—		2,180		52
Total temporarily impaired securities	$	33,020	$	123	$	—	$	—	$	33,020	$	123

At September 30, 2013, 100% of the mortgage-backed securities held by the Company were issued by U.S. government-sponsored entities and agencies, primarily Fannie Mae, Freddie Mac, and Ginnie Mae, institutions which the government has affirmed its commitment to support. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these mortgage-backed securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at September 30, 2013.

Unrealized losses on municipal securities have not been recognized into income because the issuers bonds are of high quality, and because management does not intend to sell these investments or more likely than not will not be required to sell these investments before their anticipated recovery. The fair value is expected to recover as the securities approach maturity.

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Fair Value - Assets and Liabilities Measured at Fair Value on Non-Recurring Basis (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Impaired loans on Residential real estate at Carrying value	$ 2,896	$ 837
Impaired loans on Commercial real estate at Carrying value	6,174	8,379
Impaired loans on Construction land development and land at Carrying value	961	1,103
Impaired loans on Commercial at Carrying value	1,310	905
Impaired loans on Consumer at Carrying value	158	84
Other real estate owned on Residential real estate at Carrying value	18	582
Other real estate owned on Commercial real estate at Carrying value	3,664	5,933
Other real estate owned on Construction land development and land at Carrying value	4,427	4,445
Bank owned real estate held for sale	1,582	2,482
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Impaired loans on Residential real estate
Impaired loans on Commercial real estate
Impaired loans on Land, land development and construction
Impaired loans on Commercial
Impaired loans on Consumer
Other real estate owned on Residential real estate
Other real estate owned on Commercial real estate
Other real estate owned on Land, land development and construction
Bank owned real estate held for sale
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Impaired loans on Residential real estate
Impaired loans on Commercial real estate
Impaired loans on Land, land development and construction
Impaired loans on Commercial
Impaired loans on Consumer
Other real estate owned on Residential real estate
Other real estate owned on Commercial real estate
Other real estate owned on Land, land development and construction
Bank owned real estate held for sale
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Impaired loans on Residential real estate	2,896	837
Impaired loans on Commercial real estate	6,174	8,379
Impaired loans on Land, land development and construction	961	1,103
Impaired loans on Commercial	1,310	905
Impaired loans on Consumer	158	84
Other real estate owned on Residential real estate	18	582
Other real estate owned on Commercial real estate	3,664	5,933
Other real estate owned on Land, land development and construction	4,427	4,445
Bank owned real estate held for sale	$ 1,582	$ 2,482

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Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Allowance for loan losses:
Individually evaluated for impairment	$ 784	$ 1,022
Collectively evaluated for impairment	18,481	23,011
Acquired with deteriorated credit quality	2,056	2,649
Total ending allowance balance	21,321	26,682
Loans:
Loans individually evaluated for impairment	39,880	48,179
Loans collectively evaluated for impairment	1,174,407	1,089,115
Loans acquired with deteriorated credit quality	244,150	299,027
Total ending loan balance	1,458,437	1,436,321
Residential Real Estate [Member]
Allowance for loan losses:
Individually evaluated for impairment	429	610
Collectively evaluated for impairment	9,222	6,221
Total ending allowance balance	9,651	6,831
Loans:
Loans individually evaluated for impairment	9,054	9,936
Loans collectively evaluated for impairment	440,170	418,618
Loans acquired with deteriorated credit quality	124,027	142,480
Total ending loan balance	573,251	571,034
Commercial Real Estate [Member]
Allowance for loan losses:
Individually evaluated for impairment	263	277
Collectively evaluated for impairment	4,321	7,995
Acquired with deteriorated credit quality	1,387	2,335
Total ending allowance balance	5,971	10,607
Loans:
Loans individually evaluated for impairment	27,246	32,860
Loans collectively evaluated for impairment	501,926	447,634
Loans acquired with deteriorated credit quality	109,285	134,413
Total ending loan balance	638,457	614,907
Land, Development, Construction [Member]
Allowance for loan losses:
Individually evaluated for impairment	57	107
Collectively evaluated for impairment	3,284	6,104
Acquired with deteriorated credit quality	122
Total ending allowance balance	3,463	6,211
Loans:
Loans individually evaluated for impairment	1,391	1,520
Loans collectively evaluated for impairment	58,984	53,954
Loans acquired with deteriorated credit quality	5,673	13,259
Total ending loan balance	66,048	68,733
Commercial and Industrial [Member]
Allowance for loan losses:
Individually evaluated for impairment	8	1
Collectively evaluated for impairment	879	1,744
Acquired with deteriorated credit quality	547	314
Total ending allowance balance	1,434	2,059
Loans:
Loans individually evaluated for impairment	1,831	3,470
Loans collectively evaluated for impairment	124,620	120,755
Loans acquired with deteriorated credit quality	3,906	6,143
Total ending loan balance	130,357	130,368
Consumer and Other [Member]
Allowance for loan losses:
Individually evaluated for impairment	27	27
Collectively evaluated for impairment	775	947
Total ending allowance balance	802	974
Loans:
Loans individually evaluated for impairment	358	393
Loans collectively evaluated for impairment	48,707	48,154
Loans acquired with deteriorated credit quality	1,259	2,732
Total ending loan balance	$ 50,324	$ 51,279

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Announced Acquisitions

9 Months Ended

Sep. 30, 2013

Business Combinations [Abstract]

Announced Acquisitions

NOTE 8: Announced acquisitions

On July 29, 2013, CenterState Banks, Inc. (“CSFL”) entered into an Agreement and Plan of Merger (“Agreement”) with Gulfstream Bancshares, Inc. (“GS” or “Gulfstream”), whereby GS will be merged with and into CSFL. Pursuant to and simultaneously with entering into the Agreement, CSFL’s wholly owned subsidiary bank, CenterState Bank of Florida, N.A. (“CSB”) and GS’s wholly owned subsidiary bank, Gulfstream Business Bank (“GSB”) entered into a Plan of Merger and Merger Agreement whereby GSB will be merged with and into CSB simultaneously with the merger of GS with and into CSFL.

At September 30, 2013, Gulfstream reported total consolidated assets of $563,644, total consolidated loans of $372,615 and total consolidated deposits of $471,287. Gulfstream is headquartered in Stuart, Florida with branch offices in St. Lucie, Jupiter, and Delray Beach, Florida.

Under the terms of the Agreement each outstanding share of GS common stock is entitled to receive 3.012 shares of CSFL common stock and a $14.65 cash payment. The Agreement has been unanimously approved by the board of directors of CSFL and GS. The transaction is expected to close early in the first quarter of 2014 subject to customary conditions, including all applicable regulatory approvals and GS shareholder approval.

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Reportable Segments

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Reportable Segments

NOTE 4: Reportable segments

The Company’s reportable segments represent the distinct product lines the Company offers and are viewed separately for strategic planning purposes by management. The table below is a reconciliation of the reportable segment revenues, expenses, and profit to the Company’s consolidated total for the three and nine month periods ending September 30, 2013 and 2012.

Three month period ending September 30, 2013

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	25,304		$	730		$	—					$	26,034
Interest expense		(1,267	)		(5	)		(152	)					(1,424	)
Net interest income (expense)		24,037			725			(152	)					24,610
Recovery of prior loan loss provision		1,273			—			—						1,273
Non interest income		4,836			3,771			—						8,607
Non interest expense		(24,620	)		(4,377	)		(853	)					(29,850	)
Net income (loss) before taxes		5,526			119			(1,005	)					4,640
Income tax (provision) benefit		(1,867	)		(46	)		382						(1,531	)
Net income (loss)	$	3,359		$	73		($	623	)				$	3,109
Total assets	$	2,194,300		$	138,395		$	294,425		($	291,099	)	$	2,336,021

Nine month period ending September 30, 2013

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	72,777		$	2,122		$	—					$	74,899
Interest expense		(4,019	)		(16	)		(452	)					(4,487	)
Net interest income (expense)		68,758			2,106			(452	)					70,412
Recovery of prior loan loss provision		259			—			—						259
Non interest income		12,364			16,385			—						28,749
Non interest expense		(65,917	)		(15,815	)		(2,581	)					(84,313	)
Net income (loss) before taxes		15,464			2,676			(3,033	)					15,107
Income tax (provision) benefit		(4,933	)		(1,032	)		1,301						(4,664	)
Net income (loss)	$	10,531		$	1,644		($	1,732	)				$	10,443
Total assets	$	2,194,300		$	138,395		$	294,425		($	291,099	)	$	2,336,021

Three month period ending September 30, 2012

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	22,676		$	932		$	—					$	23,608
Interest expense		(1,770	)		(7	)		(164	)					(1,941	)
Net interest income		20,906			925			(164	)					21,667
Provision for loan losses		(2,425	)		—			—						(2,425	)
Non interest income		6,882			9,453			—						16,335
Non interest expense		(23,704	)		(7,235	)		(767	)					(31,706	)
Net income before taxes		1,659			3,143			(931	)					3,871
Income tax (provision) benefit		(389	)		(1,183	)		343						(1,229	)
Net income (loss)	$	1,270		$	1,960		$	(588	)				$	2,642
Total assets	$	2,206,116		$	166,231		$	295,062		$	(289,794	)	$	2,377,615

Nine month period ending September 30, 2012

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	68,518		$	3,167		$	—					$	71,685
Interest expense		(6,053	)		(22	)		(680	)					(6,755	)
Net interest income		62,465			3,145			(680	)					64,930
Provision for loan losses		(7,051	)		—			—						(7,051	)
Non interest income		18,004			28,514			3						46,521
Non interest expense		(69,011	)		(22,099	)		(2,340	)					(93,450	)
Net income before taxes		4,407			9,560			(3,017	)					10,950
Income tax (provision) benefit		(795	)		(3,598	)		1,112						(3,281	)
Net income (loss)	$	3,612		$	5,962		$	(1,905	)				$	7,669
Total assets	$	2,206,116		$	166,231		$	295,062		$	(289,794	)	$	2,377,615

Commercial and retail banking: The Company’s primary business is commercial and retail banking. Currently, the Company operates through its subsidiary bank and a non bank subsidiary, R4ALL, with 55 full service banking locations in 18 counties throughout Florida providing traditional deposit and lending products and services to its commercial and retail customers.

Correspondent banking and bond sales division: Operating as a division of our subsidiary bank, its primary revenue generating activities are as follows: 1) the first, and largest, revenue generator is commissions earned on fixed income security sales; 2) the second category includes spread income earned on correspondent bank deposits (i.e. federal funds purchased) and service fees on correspondent bank checking accounts; and, 3) the third revenue generating category, includes fees from safe-keeping activities, bond accounting services for correspondents, asset/liability consulting related activities, international wires, and other clearing and corporate checking account services. The customer base includes small to medium size financial institutions primarily located in Southeastern United States.

Corporate overhead and administration: Corporate overhead and administration is comprised primarily of compensation and benefits for certain members of management, interest on parent company debt, office occupancy and depreciation of parent company facilities, certain merger related costs and other expenses.

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Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Change in unrealized holding gain on available for sale securities, deferred income tax benefit	$ 6,818	$ 2,558
Dividends paid - common, per share	$ 0.03	$ 0.03
Retained Earnings [Member]
Dividends paid - common, per share	$ 0.03	$ 0.03
Accumulated Other Comprehensive Income (Loss) [Member]
Change in unrealized holding gain on available for sale securities, deferred income tax benefit	$ 6,818	$ 2,558

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Loans - Risk Category of Loans by Class of Loans, Excluding Loans Acquired from FDIC (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 449,224
Consumer and Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	50,324
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,068,735	998,093
Pass [Member] | Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	420,235	400,244
Pass [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	435,312	394,238
Pass [Member] | Land, Development, Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	46,689	39,650
Pass [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	117,529	114,067
Pass [Member] | Consumer and Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	48,970	49,894
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	81,872	66,315
Special Mention [Member] | Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	6,511	4,797
Special Mention [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	59,217	44,933
Special Mention [Member] | Land, Development, Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	10,765	11,994
Special Mention [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,825	3,978
Special Mention [Member] | Consumer and Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	554	613
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	64,939	75,618
Substandard [Member] | Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	22,478	23,513
Substandard [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	34,643	41,323
Substandard [Member] | Land, Development, Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	2,921	3,830
Substandard [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,097	6,180
Substandard [Member] | Consumer and Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	800	772
Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans
Doubtful [Member] | Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans
Doubtful [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans
Doubtful [Member] | Land, Development, Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans
Doubtful [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans
Doubtful [Member] | Consumer and Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans

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Loans - Summary of Loans Individually Evaluated for Impairment by Class of Loans (Detail) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Schedule Of Financial Receivables [Line Items]
Recorded investment, With no related allowance	$ 31,888	$ 37,435
Amount of allowance for loan losses allocated to impaired loans	784	1,022
Recorded investment, With an allowance recorded	7,992	10,744
Unpaid principal balance	43,328	52,529
Total impaired loans	39,880	48,179
With No Related Allowance Recorded [Member] | Residential Real Estate [Member]
Schedule Of Financial Receivables [Line Items]
Unpaid principal balance, With no related allowance	5,539	1,712
Recorded investment, With no related allowance	5,448	1,712
With No Related Allowance Recorded [Member] | Commercial Real Estate [Member]
Schedule Of Financial Receivables [Line Items]
Unpaid principal balance, With no related allowance	25,749	33,789
Recorded investment, With no related allowance	23,892	31,171
With No Related Allowance Recorded [Member] | Land, Development, Construction [Member]
Schedule Of Financial Receivables [Line Items]
Unpaid principal balance, With no related allowance	1,760	2,042
Recorded investment, With no related allowance	911	1,087
With No Related Allowance Recorded [Member] | Commercial and Industrial [Member]
Schedule Of Financial Receivables [Line Items]
Unpaid principal balance, With no related allowance	1,728	3,556
Recorded investment, With no related allowance	1,631	3,465
With No Related Allowance Recorded [Member] | Consumer and Other [Member]
Schedule Of Financial Receivables [Line Items]
Unpaid principal balance, With no related allowance	6
Recorded investment, With no related allowance	6
With an Allowance Recorded [Member] | Residential Real Estate [Member]
Schedule Of Financial Receivables [Line Items]
Unpaid principal balance, With an allowance recorded	3,910	8,624
Amount of allowance for loan losses allocated to impaired loans	429	610
Recorded investment, With an allowance recorded	3,606	8,224
With an Allowance Recorded [Member] | Commercial Real Estate [Member]
Schedule Of Financial Receivables [Line Items]
Unpaid principal balance, With an allowance recorded	3,533	1,742
Amount of allowance for loan losses allocated to impaired loans	263	277
Recorded investment, With an allowance recorded	3,354	1,689
With an Allowance Recorded [Member] | Land, Development, Construction [Member]
Schedule Of Financial Receivables [Line Items]
Unpaid principal balance, With an allowance recorded	494	664
Amount of allowance for loan losses allocated to impaired loans	57	107
Recorded investment, With an allowance recorded	480	433
With an Allowance Recorded [Member] | Commercial and Industrial [Member]
Schedule Of Financial Receivables [Line Items]
Unpaid principal balance, With an allowance recorded	245	5
Amount of allowance for loan losses allocated to impaired loans	8	1
Recorded investment, With an allowance recorded	200	5
With an Allowance Recorded [Member] | Consumer and Other [Member]
Schedule Of Financial Receivables [Line Items]
Unpaid principal balance, With an allowance recorded	364	395
Amount of allowance for loan losses allocated to impaired loans	27	27
Recorded investment, With an allowance recorded	$ 352	$ 393

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Reportable Segments - Reconciliation of Reportable Segment Revenues, Expenses and Profit (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Segment Reporting Information [Line Items]
Interest income	$ 26,034	$ 23,608	$ 74,899	$ 71,685
Interest expense	(1,424)	(1,941)	(4,487)	(6,755)
Net interest income (expense)	24,610	21,667	70,412	64,930
Recovery of prior loan loss provision	1,273	(2,425)	259	(7,051)
Non interest income	8,607	16,335	28,749	46,521
Non interest expense	(29,850)	(31,706)	(84,313)	(93,450)
Income before provision for income taxes	4,640	3,871	15,107	10,950
Income tax (provision) benefit	(1,531)	(1,229)	(4,664)	(3,281)
Net income (loss)	3,109	2,642	10,443	7,669
Total assets	2,336,021	2,377,615	2,336,021	2,377,615	2,363,240
Operating Segments [Member] | Commercial and Retail Banking [Member]
Segment Reporting Information [Line Items]
Interest income	25,304	22,676	72,777	68,518
Interest expense	(1,267)	(1,770)	(4,019)	(6,053)
Net interest income (expense)	24,037	20,906	68,758	62,465
Recovery of prior loan loss provision	1,273	(2,425)	259	(7,051)
Non interest income	4,836	6,882	12,364	18,004
Non interest expense	(24,620)	(23,704)	(65,917)	(69,011)
Income before provision for income taxes	5,526	1,659	15,464	4,407
Income tax (provision) benefit	(1,867)	(389)	(4,933)	(795)
Net income (loss)	3,359	1,270	10,531	3,612
Total assets	2,194,300	2,206,116	2,194,300	2,206,116
Operating Segments [Member] | Correspondent Banking and Bond Sales Division [Member]
Segment Reporting Information [Line Items]
Interest income	730	932	2,122	3,167
Interest expense	(5)	(7)	(16)	(22)
Net interest income (expense)	725	925	2,106	3,145
Non interest income	3,771	9,453	16,385	28,514
Non interest expense	(4,377)	(7,235)	(15,815)	(22,099)
Income before provision for income taxes	119	3,143	2,676	9,560
Income tax (provision) benefit	(46)	(1,183)	(1,032)	(3,598)
Net income (loss)	73	1,960	1,644	5,962
Total assets	138,395	166,231	138,395	166,231
Corporate Overhead and Administration [Member]
Segment Reporting Information [Line Items]
Interest expense	(152)	(164)	(452)	(680)
Net interest income (expense)	(152)	(164)	(452)	(680)
Non interest income				3
Non interest expense	(853)	(767)	(2,581)	(2,340)
Income before provision for income taxes	(1,005)	(931)	(3,033)	(3,017)
Income tax (provision) benefit	382	343	1,301	1,112
Net income (loss)	(623)	(588)	(1,732)	(1,905)
Total assets	294,425	295,062	294,425	295,062
Elimination Entries [Member]
Segment Reporting Information [Line Items]
Total assets	$ (291,099)	$ (289,794)	$ (291,099)	$ (289,794)

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Common Stock Outstanding and Earnings Per Share Data (Tables)

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share Computations

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the periods presented.

	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
Numerator for basic and diluted earnings per share:
Net income	$	3,109	$	2,642	$	10,443	$	7,669
Denominator:
Denominator for basic earnings per share
- weighted-average shares		30,109,728		30,077,933		30,099,509		30,072,008
Effect of dilutive securities:
Stock options and stock grants		134,145		64,234		116,519		64,672
Denominator for diluted earnings per share
- adjusted weighted-average shares		30,243,873		30,142,167		30,216,028		30,136,680
Basic earnings per share	$	0.10	$	0.09	$	0.35	$	0.25
Diluted earnings per share	$	0.10	$	0.09	$	0.35	$	0.25

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FDIC Indemnification Asset

9 Months Ended

Sep. 30, 2013

Text Block [Abstract]

FDIC Indemnification Asset

NOTE 7: FDIC indemnification asset

The FDIC Indemnification Asset represents the estimated amounts due from the FDIC pursuant to the Loss Share Agreements related to the acquisition of the three failed banks acquired in 2010 and the acquisition of two failed banks in 2012. The activity in the FDIC loss share indemnification asset is as follows:

	Nine month period ended Sept 30, 2013			Twelve month period ended Dec 31, 2012
Beginning of the year	$	119,289		$	50,642
Effect of acquisitions		—			85,088
Amortization, net		(9,307	)		(3,096	)
Indemnification income - ORE		5,420			4,185
Indemnification of foreclosure expense		2,491			2,425
Proceeds from FDIC		(36,227	)		(21,787	)
(Recovery) impairment of loan pool		(63	)		1,832
Period end balance	$	81,603		$	119,289

Impairment of loan pools

When a loan pool (with loss share) is impaired, the impairment expense is included in provision for loan losses, and 80% of that loss is recognized as income from FDIC reimbursement, and included in this line item. During the nine month period ended September 30, 2013, the estimated amount of impairment declined, which resulted in a reversal of $63 of income previously recognized.

Indemnification Revenue

Indemnification Revenue represents approximately 80% of the cost incurred pursuant to the repossession process and losses incurred on the sale of OREO, or writedown of OREO values to current fair value. These costs are reimbursable from the FDIC.

Amortization, net

On the date of an FDIC acquisition, the Company estimates the amount and the timing of expected future losses that will be covered by the FDIC loss sharing agreements. The FDIC indemnification asset is initially recorded as the discounted value of the reimbursement of losses from the FDIC. Discount accretion is recognized over the estimated period of losses, and the Company updates its estimate of future losses and the timing of the losses each quarter. To the extent management estimates that future losses are less than initial estimate of future losses, management adjusts its estimates of future expected reimbursements and any decrease in the expected future reimbursements is amortized over the shorter of the loss share period or the life of the related loan by amortization in this line item. Based upon the most recent estimate of future losses, the Company expects less reimbursements from the FDIC and is amortizing the estimated reduction as described in the previous sentence.

Indemnification of foreclosure expense

Indemnification of foreclosure expense represents approximately 80% of the foreclosure related expenses incurred and reimbursable from the FDIC. Foreclosure expense is included in non interest expense. The amount of the reimbursable portion of the expense reduces foreclosure expense included in non interest expense.

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Investment Securities Available for Sale (Tables)

9 Months Ended

Sep. 30, 2013

Investments Debt And Equity Securities [Abstract]

Fair Value of Available for Sale Securities and Related Gross Unrealized Gains and Losses Recognized in Accumulated Other Comprehensive Income (Loss)

The fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:

	September 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Obligations of U.S. government sponsored entities and agencies	$	5	$	—	$	—	$	5
Mortgage backed securities		421,248		4,865		10,979		415,134
Municipal securities		41,094		934		612		41,416
Total	$	462,347	$	5,799	$	11,591	$	456,555

	December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Obligations of U.S. government sponsored entities and agencies	$	7,465	$	81	$	—	$	7,546
Mortgage backed securities		364,014		9,247		71		373,190
Municipal securities		42,570		2,504		52		45,022
Total	$	414,049	$	11,832	$	123	$	425,758

Schedule of Sales of Available for Sale Securities

The cost of securities sold is determined using the specific identification method. Sales of available for sale securities were as follows:

For the nine months ended:	Sept 30, 2013		Sept 30, 2012
Proceeds	$	68,892	$	140,537
Gross gains		1,038		2,285
Gross losses		—		282

Fair Value of Available for Sale Securities by Contractual Maturity

The fair value of available for sale securities at September 30, 2013 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.

	Fair Value		Amortized Cost
Investment securities available for sale
Due in one year or less	$	625	$	625
Due after one year through five years		1,929		1,800
Due after five years through ten years		11,594		11,335
Due after ten years through thirty years		27,273		27,339
Mortgage backed securities		415,134		421,248
	$	456,555	$	462,347

Investments Gross Unrealized Losses and Fair Value

The following tables show the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2013 and December 31, 2012.

	September 30, 2013
	Less than 12 months				12 months or more				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. government sponsored entities and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities		235,856		10,979		—		—		235,856		10,979
Municipal securities		11,591		612		—		—		11,591		612
Total temporarily impaired securities	$	247,447	$	11,591	$	—	$	—	$	247,447	$	11,591

	December 31, 2012
	Less than 12 months				12 months or more				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. government sponsored entities and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities		30,840		71		—		—		30,840		71
Municipal securities		2,180		52		—		—		2,180		52
Total temporarily impaired securities	$	33,020	$	123	$	—	$	—	$	33,020	$	123

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Fair Value (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2). Assets and liabilities measured at fair value on a recurring basis are summarized below.

			Fair value measurements using
	Carrying value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
at September 30, 2013
Assets:
Trading securities	$	398		—	$	398		—
Available for sale securities
U.S. government sponsored entities and agencies		5		—		5		—
Mortgage backed securities		415,134		—		415,134		—
Municipal securities		41,416		—		41,416		—
Interest rate swap derivatives		712		—		712		—
Liabilities: Interest rate swap derivatives		809		—		809		—
at December 31, 2012
Assets:
Trading securities	$	5,048		—	$	5,048		—
Available for sale securities
U.S. government sponsored entities and agencies		7,546		—		7,546		—
Mortgage backed securities		373,190		—		373,190		—
Municipal securities		45,022		—		45,022		—
Interest rate swap derivatives		1,131		—		1,131		—
Liabilities:
Interest rate swap derivatives		2,014		—		2,014		—

Assets and Liabilities Measured at Fair Value on Non-Recurring Basis

Assets and liabilities measured at fair value on a non-recurring basis are summarized below.

			Fair value measurements using
	Carrying value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
at September 30, 2013
Assets:
Impaired loans
Residential real estate	$	2,896		—		—	$	2,896
Commercial real estate		6,174		—		—		6,174
Land, land development and construction		961		—		—		961
Commercial		1,310		—		—		1,310
Consumer		158		—		—		158
Other real estate owned
Residential real estate	$	18		—		—	$	18
Commercial real estate		3,664		—		—		3,664
Land, land development and construction		4,427		—		—		4,427
Bank owned real estate held for sale		1,582		—		—		1,582
at December 31, 2012
Assets:
Impaired loans
Residential real estate	$	837		—		—	$	837
Commercial real estate		8,379		—		—		8,379
Land, land development and construction		1,103		—		—		1,103
Commercial		905		—		—		905
Consumer		84		—		—		84
Other real estate owned
Residential real estate	$	582		—		—	$	582
Commercial real estate		5,933		—		—		5,933
Land, land development and construction		4,445		—		—		4,445
Bank owned real estate held for sale		2,482		—		—		2,482

Carrying Amounts and Estimated Fair Values of Company' s Financial Instruments

The following table presents the carry amounts and estimated fair values of the Company’s financial instruments:

			Fair value measurements
at September 30, 2013	Carrying amount		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	106,816	$	106,816	$	—	$	—	$	106,816
Trading securities		398		—		398		—		398
Investment securities available for sale		456,555		—		456,555		—		456,555
FHLB and FRB stock		8,179		—		—		—		n/a
Loans held for sale		1,317		—		1,317		—		1,317
Loans, less allowance for loan losses of $21,321		1,437,251		—		—		1,438,680		1,438,680
FDIC indemnification asset		81,603		—		—		—		n/a
Interest rate swap derivatives		712		—		712		—		712
Accrued interest receivable		6,206		—		—		6,206		6,206
Financial liabilities:
Deposits - without stated maturities	$	1,561,747	$	1,561,747	$	—	$	—	$	1,561,747
Deposits - with stated maturities		400,208		—		404,692		—		404,692
Securities sold under agreement to repurchase		22,150		—		22,150		—		22,150
Federal funds purchased		45,356		—		45,356		—		45,356
Corporate debentures		16,990		—		11,011		—		11,011
Interest rate swap derivatives		809		—		809		—		809
Accrued interest payable		378		—		378		—		378

			Fair value measurements
at December 31, 2012	Carrying amount		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	136,748	$	136,748	$	—	$	—	$	136,748
Trading securities		5,048		—		5,048		—		5,048
Investment securities available for sale		425,758		—		425,758		—		425,758
FHLB and FRB stock		9,749		—		—		—		n/a
Loans held for sale		2,709		—		2,709		—		2,709
Loans, less allowance for loan losses of $26,682		1,409,181		—		—		1,324,630		1,324,630
FDIC indemnification asset		119,289		—		—		—		n/a
Interest rate swap derivatives		1,131		—		1,131		—		—
Accrued interest receivable		6,100		—		—		6,100		6,100
Financial liabilities:
Deposits - without stated maturities	$	1,521,928	$	1,521,928	$	—	$	—	$	1,521,928
Deposits - with stated maturities		475,304		—		483,220		—		483,220
Securities sold under agreement to repurchase		18,792		—		18,792		—		18,792
Federal funds purchased		38,932		—		38,932		—		38,932
Corporate debentures		16,970		—		—		8,477		8,477
Interest rate swap derivatives		2,014		—		2,014		—		2,014
Accrued interest payable		579		—		579		—		579

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Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 31, 2013
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3
Entity Registrant Name	CenterState Banks, Inc.
Entity Central Index Key	0001102266
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		30,112,475

XML

Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Reconciliation of Reportable Segment Revenues, Expenses and Profit

The table below is a reconciliation of the reportable segment revenues, expenses, and profit to the Company’s consolidated total for the three and nine month periods ending September 30, 2013 and 2012.

Three month period ending September 30, 2013

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	25,304		$	730		$	—					$	26,034
Interest expense		(1,267	)		(5	)		(152	)					(1,424	)
Net interest income (expense)		24,037			725			(152	)					24,610
Recovery of prior loan loss provision		1,273			—			—						1,273
Non interest income		4,836			3,771			—						8,607
Non interest expense		(24,620	)		(4,377	)		(853	)					(29,850	)
Net income (loss) before taxes		5,526			119			(1,005	)					4,640
Income tax (provision) benefit		(1,867	)		(46	)		382						(1,531	)
Net income (loss)	$	3,359		$	73		($	623	)				$	3,109
Total assets	$	2,194,300		$	138,395		$	294,425		($	291,099	)	$	2,336,021

Nine month period ending September 30, 2013

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	72,777		$	2,122		$	—					$	74,899
Interest expense		(4,019	)		(16	)		(452	)					(4,487	)
Net interest income (expense)		68,758			2,106			(452	)					70,412
Recovery of prior loan loss provision		259			—			—						259
Non interest income		12,364			16,385			—						28,749
Non interest expense		(65,917	)		(15,815	)		(2,581	)					(84,313	)
Net income (loss) before taxes		15,464			2,676			(3,033	)					15,107
Income tax (provision) benefit		(4,933	)		(1,032	)		1,301						(4,664	)
Net income (loss)	$	10,531		$	1,644		($	1,732	)				$	10,443
Total assets	$	2,194,300		$	138,395		$	294,425		($	291,099	)	$	2,336,021

Three month period ending September 30, 2012

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	22,676		$	932		$	—					$	23,608
Interest expense		(1,770	)		(7	)		(164	)					(1,941	)
Net interest income		20,906			925			(164	)					21,667
Provision for loan losses		(2,425	)		—			—						(2,425	)
Non interest income		6,882			9,453			—						16,335
Non interest expense		(23,704	)		(7,235	)		(767	)					(31,706	)
Net income before taxes		1,659			3,143			(931	)					3,871
Income tax (provision) benefit		(389	)		(1,183	)		343						(1,229	)
Net income (loss)	$	1,270		$	1,960		$	(588	)				$	2,642
Total assets	$	2,206,116		$	166,231		$	295,062		$	(289,794	)	$	2,377,615

Nine month period ending September 30, 2012

	Commercial and retail banking			Correspondent banking and bond sales division			Corporate overhead and administration			Elimination entries			Total
Interest income	$	68,518		$	3,167		$	—					$	71,685
Interest expense		(6,053	)		(22	)		(680	)					(6,755	)
Net interest income		62,465			3,145			(680	)					64,930
Provision for loan losses		(7,051	)		—			—						(7,051	)
Non interest income		18,004			28,514			3						46,521
Non interest expense		(69,011	)		(22,099	)		(2,340	)					(93,450	)
Net income before taxes		4,407			9,560			(3,017	)					10,950
Income tax (provision) benefit		(795	)		(3,598	)		1,112						(3,281	)
Net income (loss)	$	3,612		$	5,962		$	(1,905	)				$	7,669
Total assets	$	2,206,116		$	166,231		$	295,062		$	(289,794	)	$	2,377,615