Banking regulators shut down Central Florida State Bank, based in Belleview, Fla., on Friday, and sold its assets to CenterState Bank of Florida, based in Winter Haven, Fla.
The four branches of Central Florida State Bank will reopen on Monday as branches of CenterState Bank of Florida. As of September 30, 2011, Central Florida State Bank had $79.1 million in total assets
Central Florida State Bank is the first bank to fail in the nation this year, and the first in Florida. The last FDIC-insured institution shut down in the state was Premier Community Bank of the Emerald Coast, Crestview, on December 16, 2011.
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