CenterState Bank Corporation announced that it completed its acquisition of Charter Financial Corp. ("Charter"), effective as of September 1, 2018.  Immediately following the acquisition, Charter's subsidiary bank, CharterBank, merged with and into CenterState Bank, N.A., a national banking association and wholly owned subsidiary of CenterState, with CenterState Bank as the surviving bank in the mergers.  As a result of this transaction, CenterState expanded its branch franchise into the Atlanta, Georgia market – where CenterState's correspondent banking division, mortgage division and SBA lending division already are headquartered - as well as into Charter's legacy market in LaGrange/West Point, Georgia, and the growth markets of Pensacola, Florida and Auburn, Alabama.  CenterState now has approximately $12.2 billion in assets, $9.5 billion in deposits and 128 branches.

Pursuant to the merger agreement, Charter's shareholders are entitled to receive, for each share of Charter common stock outstanding immediately prior to the merger, 0.738 of a share of CenterState common stock and $2.30 in cash.

In addition, in connection with the closing of the merger, Lee Washam, President of CharterBank, has joined CenterState Bank as Regional President for Georgia.