CenterState in Fla. to Close More First Southern Branches

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CenterState Banks in Davenport, Fla., plans to close additional branches from a recent acquisition.

The $3 billion-asset CenterState bought First Southern Bancorp in Boca Raton in early June and said shortly afterward that it would close six of First Southern's 17 branches.

That number has gone up to 10, according to a regulatory filing Wednesday. The branches targeted for closure are a mix of property that was owned and leased by the $1 billion-asset First Southern.

All of the closures are set to occur in September, before a planned conversion of First Southern's core systems.

The First Southern acquisition was CenterState's second this year. In January, it bought the $543 million-asset Gulf Stream Business Bank in Stuart, Fla.

Kristin Broughton

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