August 12, 2017

On August 12, 2017, Sunshine Bancorp, Inc. (“Sunshine”), Plant City, Florida, and CenterState Banks, Inc. (“CenterState”), Winter Haven, Florida, entered into an agreement pursuant to which Sunshine will merge with and into CenterState, with CenterState as the resulting entity. Upon completion of the merger, Sunshine Bank, the subsidiary of Sunshine, will merge with and into CenterState Bank, N.A., the subsidiary of CenterState.  Under the terms of the merger agreement, Sunshine stockholders will receive 0.89 shares of CenterState common stock for each outstanding share of Sunshine common stock. The aggregate deal value as of August 12, 2017 was approximately $176.7 million.

Luse Gorman served as legal counsel to Sunshine in the transaction.  The Luse Gorman team included Eric Luse, Ben Azoff, Scott Brown and Gregory Sobczak (Corporate/M&A) and Jeff Cardone and Brendan Saxon (Executive Compensation).

As of June 30, 2017, Sunshine had approximately $1.0 billion in total assets and operated through 18 banking locations along Florida’s I-4 corridor in Brevard, Hillsborough, Manatee, Orange, Pasco, Polk and Sarasota counties.

As of June 30, 2017, CenterState had approximately $6.8 billion in assets and operated through its 78 bank office network located in 28 counties throughout Florida.

On August 12, 2017, CenterState also entered into an agreement pursuant to which HCBF Holding Company, Inc., the parent company of Harbor Community Bank, will merge with and into CenterState. The combined organization after the two mergers will have total assets of approximately $10.1 billion.