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CenterState Banks amends loan agreement with NexBank

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CenterState Banks amends loan agreement with NexBank

CenterState Banks Inc. as borrower and NexBank SSB as lender on Jan. 23 amended their loan agreement, increasing the maximum aggregate principal amount of revolving loans that may be outstanding at any one time to $50 million.

According to a Form 8-K, the amendment also reduced the total risk-based capital ratio required of CenterState Banks unit CenterState Bank of Florida NA as of the last day of any fiscal quarter.

CenterState Banks issued to NexBank an amended and restated revolving promissory note dated Jan. 23 in connection with the first amendment to the April 8, 2015, loan agreement.

NexBank is a unit of NexBank Capital Inc.

In an earnings release, CenterState Banks said that on Jan. 13, it completed the sale of 2,695,000 common shares in a public offering at $23.58 per share, which resulted in net proceeds of about $62.9 million.

The company reported fourth-quarter 2016 net income allocated to common shares of $16.0 million, or 33 cents per share, compared to the year-ago period's $10.3 million, or 23 cents per share.