Cutting its expenses can get a bank only so far. Sometimes it has to cut someone else's expenses to get where it wants to go.

CenterState Banks (CSFL) in Davenport, Fla., recently said it would trim about 5% off its annual operating costs this year, and it announced Wednesday night another reason to keep its blade sharp: it has agreed to acquire First Southern Bancorp (FSOF) in Boca Raton, Fla., and anticipates 46% in cost savings for the $1.1 billion-asset seller.

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