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Cypress Trust completes acquisition of CenterState Bank personal trust biz

Cypress Trust Co. completed the acquisition of Winter Haven, Fla.-based CenterState Bank NA's personal trust business.

The former members of CenterState Trust's team are now employees of Cypress Trust.

CenterState's trust business began in the 1960s and serves clients in the Greater Jacksonville area, Cypress Trust Chairman and CEO Jay Chigurupati said in a news release. He added that the deal also enables Cypress Trust to serve potential clients in significant markets in Florida.

Cypress Trust provides trust and investment management services for individuals and their families, nonprofit organizations, foundations and endowments.

DD&F Consulting Group represented Cypress Trust on this deal.