Bank announces two acquisitions

WINTER HAVEN — Winter Haven-based CenterState Banks Inc., the parent company of CenterState Bank N.A., announced two separate acquisitions.

CenterState will acquire HCBF Holding Co. Inc., the parent company of Harbor Community Bank, based in Fort Pierce. CenterState will also acquire Sunshine Bancorp Inc., the parent company of Sunshine Bank, based in Plant City.

According to a press release, after the completion of the mergers, the subsidiary bank of each will merge into CenterState Bank. After the Harbor merger, Harbor Chairman and CEO Mike Brown Sr. will join the CenterState board of directors.

The combined company is expected to have pro forma approximately $10.1 billion in assets, $6.6 billion in loans and $8.1 billion in deposits, according to a statement.

“Our partnerships with Harbor Community Bank and Sunshine Bank are the logical next step to fulfill our vision of becoming Florida's bank,” says CenterState President and CEO John Corbett in a statement.

CenterState board of directors unanimously approved the Harbor and Sunshine merger agreements. The Harbor board of directors unanimously approved the Harbor merger agreement, and the Sunshine board of directors unanimously approved the Sunshine merger agreement. Each transaction is expected to close in the first quarter of 2018.

CenterState has 78 bank offices in 28 counties in Florida. Harbor Community Bank has 46 branch locations and three loan production offices in 19 counties in Florida. Sunshine has 18 locations along Florida's Interstate 4 corridor.