Centerstate bank corporation (CSFL)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Interest income:
Loans

618,125

405,881

219,972

163,625

141,696

121,262

88,274

81,592

65,893

55,697

53,428

Investment securities:
Taxable

48,432

42,723

22,598

18,920

16,460

13,991

9,889

11,297

14,296

16,833

18,436

Tax-exempt

6,899

6,399

5,324

3,909

2,641

1,435

1,430

1,423

1,422

1,424

1,472

Federal funds sold and other

11,876

5,629

3,432

2,211

1,523

1,539

785

638

632

626

608

Total interest income

685,332

460,632

251,326

188,665

162,320

138,227

100,378

94,950

82,243

74,580

73,944

Interest expense:
Deposits

83,099

33,260

11,079

6,934

5,506

6,182

5,184

7,529

11,499

15,722

20,521

Securities sold under agreement to repurchase

1,106

632

246

103

186

181

78

86

84

89

100

Federal funds purchased and other borrowings

11,637

11,445

3,108

1,154

622

51

21

30

49

107

553

Corporate and subordinated debentures

3,726

2,213

1,350

-

-

-

-

-

-

-

-

Federal Home Loan Bank advances and other borrowings

-

-

-

-

4

-

0

199

127

403

643

Corporate and subordinated debentures

-

-

-

1,149

968

942

602

637

448

421

473

Total interest expense

99,604

47,550

15,783

9,340

7,286

7,356

5,885

8,481

12,207

16,742

22,290

Net interest income

585,728

413,082

235,543

179,325

155,034

130,871

94,493

86,469

70,036

57,838

51,654

Provision for credit losses

10,585

8,283

4,958

4,962

4,493

826

-76

9,220

45,991

29,624

23,896

Net interest income after credit loss provision

575,143

404,799

230,585

174,363

150,541

130,045

94,569

77,249

24,045

28,214

27,758

Non-interest income:
Correspondent banking capital markets revenue

60,373

28,884

23,520

28,817

23,225

16,400

17,023

32,806

24,889

32,696

17,916

Other correspondent banking related revenue

4,525

4,504

4,821

4,868

4,338

3,753

3,387

2,901

2,177

-

-

Small business administration loans revenue

5,136

3,532

775

150

-

-

-

-

-

-

-

Debit, prepaid, ATM and merchant card related fees

18,399

16,243

9,035

8,254

6,913

6,250

5,420

4,623

3,194

1,890

1,341

Wealth management related revenue

3,161

2,657

3,554

3,237

3,813

4,239

4,551

3,760

1,801

1,118

532

FDIC indemnification income

-

-

-

96

1,686

2,982

5,542

6,017

1,132

-

-

FDIC indemnification asset amortization

-

-

-

1,166

16,563

20,743

13,807

3,096

503

-

-

Loan related fees

-

-

-

-

-

-

-

-

-

534

452

Bank owned life insurance income

7,801

5,976

3,293

2,534

2,346

1,767

1,328

1,436

967

774

550

Gain on sale of deposits

0

611

0

-

-

-

-

-

-

-

-

Gain on sale of trust department

0

0

1,224

-

-

-

-

-

-

-

-

Gain on sale of residential loans held for sale

-

-

-

-

566

-

-

-

-

-

-

FDIC indemnification asset (amortization)/accretion

-

-

-

-

-

-

-

-

-

597

-

Trading securities revenue

-

-

-

-

-

-

-

-

-

622

427

Bargain purchase gain

-

-

-

-

-

-

-

453

57,020

1,377

-

Net gain on sale of available for sale debt securities

25

-22

-7

13

4

46

1,060

2,423

3,464

7,034

2,516

Other non-interest income

6,919

7,301

2,463

3,169

1,377

1,990

985

1,340

1,515

1,418

868

Total other income

166,060

105,127

65,175

64,369

37,450

26,226

33,946

59,261

101,972

54,933

30,052

Net interest income after loan loss provision

575,143

404,799

230,585

-

-

-

-

-

-

-

-

Non-interest expense:
Salaries, wages and employee benefits

260,234

172,318

109,412

90,881

77,398

70,375

60,369

69,938

58,245

55,033

36,670

Occupancy expense

28,350

20,897

12,777

9,805

9,957

10,163

7,702

8,697

8,271

6,652

5,375

Depreciation of premises and equipment

14,438

9,788

7,247

6,373

5,716

6,066

5,876

5,678

4,207

3,350

2,882

Supplies, stationary and printing

3,234

2,498

1,610

1,340

1,436

1,319

1,121

1,124

1,285

1,091

848

Marketing expenses

7,540

6,235

3,929

3,125

2,317

2,731

2,517

2,564

2,791

2,498

1,910

Data processing expense

19,605

14,308

8,436

6,867

4,679

5,484

3,784

3,988

4,680

2,789

2,417

Legal, audit and other professional fees

8,870

6,163

3,644

3,657

2,954

4,066

3,754

2,527

2,729

3,764

2,354

Amortization of intangibles

16,030

10,018

4,066

3,074

2,537

-

-

-

-

-

-

Core deposit intangible ("CDI") amortization

-

-

-

-

-

2,110

986

1,155

804

519

792

Postage and delivery

3,967

2,961

1,938

1,684

1,389

1,413

1,084

1,148

930

735

425

ATM and debit card and merchant card related expenses

5,501

4,253

2,746

2,850

1,893

1,892

1,788

1,207

1,631

1,298

1,060

Core deposit intangible impairment

-

-

-

-

-

-

-

-

-

-

1,200

Bank regulatory expenses

5,048

4,885

3,051

3,420

3,173

3,209

2,369

2,429

2,621

2,989

3,114

Gain on sale of OREO

428

1,933

876

-

-

-

-

-

-

-

-

Gain on sale of repossessed real estate (“OREO”)

-

-

-

1,528

1,253

788

-3,122

-1,185

545

756

772

Valuation write down of OREO

395

482

682

871

1,207

3,250

6,012

4,258

6,751

2,951

2,188

(Gain) loss on repossessed assets other than real estate

-25

138

-23

46

7

45

401

123

377

458

544

Foreclosure related expenses

3,221

2,815

2,252

2,392

2,334

2,775

3,191

5,640

5,023

2,113

1,049

Merger related expenses

39,257

34,912

13,046

11,444

693

11,542

722

2,714

7,696

769

-

Impairment on bank property held for sale

1,736

2,667

519

1,150

0

-

-

-

-

-

-

Branch closure and efficiency initiatives

-

-

-

-

-

2,764

0

-

-

-

-

Loss on termination of FDIC loss share agreements

-

-

-

17,560

0

-

-

-

-

-

-

Other expenses

29,934

19,062

12,029

9,470

9,645

7,765

5,964

7,605

6,103

5,560

5,114

Total other expenses

446,907

312,467

186,485

174,481

126,082

136,181

110,762

121,980

114,689

93,325

68,714

Income before provision for income taxes

294,296

197,459

109,275

64,251

61,909

20,090

17,753

14,530

11,328

-10,178

-10,904

Provision for income taxes

67,698

41,024

53,480

21,910

22,571

7,126

5,510

4,625

3,419

-4,240

-4,687

Net income

226,598

156,435

55,795

-

-

-

-

-

-

-

-

Earnings attributable to noncontrolling interest

1,202

-

-

-

-

-

-

-

-

-

-

Net income attributable to CenterState Bank Corporation

225,396

156,435

55,795

42,341

39,338

12,964

12,243

9,905

7,909

-5,938

-6,217

Net income

226,598

156,435

55,795

-

-

-

-

-

-

-

-

Other comprehensive income, net of tax
Tax effect of unrealized securities holding gain or loss

-

-

-

-

-1,642

-

-

-

-

-

-

Unrealized available for sale debt securities holding gain, net of taxes of $13,268 and $7,322, respectively

45,454

-15,432

2,806

-10,004

-4,255

8,565

-11,132

3,097

4,958

238

-

Unrealized interest rate swap holding loss, net of taxes of ($1,917) and $0, respectively

-613

-

-

-

-

-

-

-

-

-

-

Less: reclassified adjustments for gain included in net income, net income tax expense of $0 and $4, respectively

19

-16

-4

8

2

28

651

1,511

2,161

4,387

-

Net change in accumulated other comprehensive income

44,822

-15,416

2,810

-

-

-

-

-

-

-

-

Total comprehensive income

271,420

141,019

58,605

-

-

-

-

-

-

-

-

Comprehensive income attributable to noncontrolling interest

1,202

-

-

-

-

-

-

-

-

-

-

Net unrealized gain (loss) on available for sale debt securities,net of income taxes

-

-

-

-10,012

-2,615

8,537

-11,783

1,586

2,797

-4,149

-

Total comprehensive income attributable to CenterState Bank Corporation

270,218

141,019

58,605

32,329

36,723

21,501

460

11,491

10,706

-10,087

-

Earnings per share:
Basic

1.88

1.78

0.97

0.89

0.87

0.32

0.41

0.33

0.26

-0.22

-0.47

Diluted

1.87

1.76

0.95

0.88

0.85

0.31

0.41

0.33

0.26

-0.22

-0.47

Common shares used in the calculation of earnings per share:
Common shares used in the calculation of earnings per share:
Basic

119,746

87,641

57,244

47,409

45,182

40,852

30,102

30,073

30,034

27,608

17,905

Diluted

120,603

88,758

58,340

48,191

45,788

41,235

30,220

30,141

30,039

27,608

17,905

Mortgage Banking Revenue [Member]
Non interest income

29,553

12,610

1,511

833

-

-

-

-

-

-

-

Service Charges on Deposit Accounts [Member]
Non interest income

30,168

22,831

14,986

13,564

9,745

9,542

8,457

6,598

6,316

6,873

5,450