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Cypress Trust to acquire CenterState's personal trust biz

Cypress Trust Co., a provider of investment management and trust services, is acquiring Winter Haven, Fla.-based CenterState Bank NA's personal trust business.

The deal, according to a press release, brings the Florida-based buyer approximately 120 relationships, market share in Jacksonville and a 15% increase in its personal trust business. CenterState Trust's team is also joining Cypress Trust.

DD&F Consulting advised Cypress Trust on the transaction.