CenterState Bank is headquartered in Winter Haven and is the 4th largest bank in the state of Florida. It is also the 98th largest bank in the nation. It was established in 1992 and as of December of 2019, it had grown to 2,756 employees at 158 locations. CenterState Bank has an A+ health rating.
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Not A Vendor--A Trusted Partner
If you're not with Central State Bank and you're in business... why the heck not? I've been with CSB since 2007. In that time they've provided top tier service and a down home feel. My most recent experience is their shepherding of PPP Loans for my 6 companies. When we gave them to CSB on the day the program became available, I got a call at 10PM letting me know they were accepted. We've accomplished closings using docusign and all of the money is in my accounts. Their handling of this possibly kept us in business, now I can put all of my 160 furloughed employees back to work. These guys haven't been a good vendor--they've been a trusted partner over the last 13 years.
CenterState Bank - Like a Hometown Bank
I started with this bank over two years ago, the customer service is amazing. They are always smiling and willing to help with any financial problems that you might have. They offer a $500 leeway for any transactions coming through in case you do not calculate properly or have something come out that you were unaware of. They are always just a phone call away and if your account needs some TLC they actually call you and let you know if there is something to do to bring it back up.
No Customer Service - Worthless
Well this Bank is batting 1,000. That means I have went there for help twice and both times they are useless. I got ripped off by a dishonest vendor and so I went to the bank to reverse the charges. They called the dishonest vendor to ask if it was OK to reverse the charges the dishonest vendor said no so they told me there was nothing they could do.How ridicules is that.
I am also fed up with the petty charges they have for everything. Now I have to start the process of finding a new bank.
Online Banking Is The Worst
If you use online banking, forget Centerstate. I have used several other online banking products in the past and Centerstate's is the worst. Their website has frequent login problems and then when you call they deny that there were any issues. I've called numerous times requesting that someone in management call me and no one has had the courtesy to do that. I
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 33555 |
| Year Established | 1992 |
| Employees | 2756 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.51% |
| Return on Equity - YTD | 8.94% |
| Annual Interest Income | $688.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $17.14B$12.33B |
| Loans | Q4 2019vs Q4 2018 | $12.09B$8.34B |
| Deposits | Q4 2019vs Q4 2018 | $13.15B$9.48B |
| Equity Capital | Q4 2019vs Q4 2018 | $2.97B$2.00B |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $40.7MM$39.8MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $44.4MM$37.8MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $5.1MM$2.9MM |
