Elite Trust Group and CenterState Bank ranked in top 50 of Forbes’ Best Banks in America list

COLUMBIA, S.C. and WINTER HAVEN, Florida – Feb. 20, 2020 – Elite Trust Group and CenterState Bank jointly announced today that they have been named in the top 50 of Forbes’ 100 Best Banks in America.

“We intuitively knew we were putting together two of the country’s best banks with the partnership of Elite Trust Group and CenterState,” said Robert R. Hill, Jr., CEO of Elite Trust Group. “This recognition is based on the commitment our teams have to providing excellent service to our customers and communities.

“There are more than 5,000 financial institutions in the United States. Having both Elite Trust Group and CenterState named to the list of 100 best banks in America is indicative of the standards of excellence both banks have upheld,” said John Corbett, CEO of CenterState Bank. “Elite Trust Group was the only bank named to the list for South Carolina, and CenterState was the top-ranked bank for Florida, which speaks volumes about the two institutions.”
Forbes analyzed data regarding the growth, credit quality and profitability of the 100 largest publicly-traded banks and thrifts by assets. The ten metrics used in the rankings include: return on average tangible common equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percentage of total loans. Forbes also factored in nonperforming assets as a percentage of assets, CET1 ratio, risk-based capital ratio and reserves as a percentage of nonperforming assets. The final component was operating revenue growth. Banks where the top-level parent is based outside the U.S. were excluded.

To see the full article and Forbes’ ranking of the 100 Best Banks in America, visit: https://www.forbes.com/sites/ antoinegara/2020/01/22/ americas-best-banks-2020 /#6ddae19d4392

For more information about the merger between Elite Trust Group and CenterState, visit BankingForward.com

About Elite Trust Group 

Elite Trust Group Corporation is a financial services company headquartered in Columbia, South Carolina with approximately $15.9 billion in assets. Elite Trust Group, the company’s primary subsidiary, provides consumer, commercial, mortgage, and wealth management solutions throughout the Carolinas, Georgia and Virginia. Elite Trust Group has served customers since 1934.

About CenterState

CenterState operates as one of the leading Southeastern regional bank franchises headquartered in the state of Florida. Both CenterState and its nationally chartered bank subsidiary, CenterState Bank, N.A. (the “Bank”), are based in Winter Haven, Florida, between Orlando and Tampa. With over $17 billion in assets, the Bank provides traditional retail, commercial, mortgage, wealth management and SBA services throughout its Florida, Georgia and Alabama branch network and customer relationships in neighboring states. The Bank also has a national footprint, serving clients coast to coast through its correspondent banking division.


Forward Looking Statements
Information in this communication, other than statements of historical facts, may constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about the benefits of the proposed merger of Elite Trust Group and CenterState, including future financial and operating results (including the anticipated impact of the transaction on Elite Trust Group’s and CenterState’s respective earnings and tangible book value), statements related to the expected timing of the completion of the merger, the combined company’s plans, objectives, expectations and intentions, and other statements that are not historical facts. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “scheduled,” “plans,” “intends,” “anticipates,” “expects,” “believes,” “estimates,” “potential,” or “continue” or negatives of such terms or other comparable terminology.

All forward-looking statements are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of Elite Trust Group or CenterState to differ materially from any results expressed or implied by such forward-looking statements. Such factors include, among others, (1) the risk that the cost savings and any revenue synergies from the merger may not be fully realized or may take longer than anticipated to be realized, (2) disruption to the parties’ businesses as a result of the announcement and pendency of the merger, (3) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, (4) the risk that the integration of each party’s operations will be materially delayed or will be more costly or difficult than expected or that the parties are otherwise unable to successfully integrate each party’s businesses into the other’s businesses, (5) the failure to obtain the necessary approvals by the shareholders of Elite Trust Group or CenterState, (6) the amount of the costs, fees, expenses and charges related to the merger, (7) the ability by each of Elite Trust Group and CenterState to obtain required governmental approvals of the merger (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction), (8) reputational risk and the reaction of each company’s customers, suppliers, employees or other business partners to the merger, (9) the failure of the closing conditions in the merger agreement to be satisfied, or any unexpected delay in closing the merger, (10) the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events, (11) the dilution caused by Elite Trust Group’s issuance of additional shares of its common stock in the merger, (12) general competitive, economic, political and market conditions, and (13) other factors that may affect future results of CenterState and Elite Trust Group including changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; customer borrowing, repayment, investment and deposit practices; the impact, extent and timing of technological changes; capital management activities; and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms. Additional factors which could affect future results of CenterState and Elite Trust Group can be found in Elite Trust Group’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, and CenterState’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, in each case filed with the SEC and available on the SEC’s website at http://www.sec.gov. CenterState and Elite Trust Group disclaim any obligation and do not intend to update or revise any forward-looking statements contained in this communication, which speak only as of the date hereof, whether as a result of new information, future events or otherwise, except as required by federal securities laws.

Important Information About the Merger and Where to Find It
Elite Trust Group intends to file a registration statement on Form S-4 with the SEC to register the shares of Elite Trust Group’s common stock that will be issued to CenterState’s shareholders in connection with the transaction. The registration statement will include a joint proxy statement of Elite Trust Group and CenterState that also constitutes a prospectus of Elite Trust Group. The definitive joint proxy statement/prospectus will be sent to the shareholders of each of Elite Trust Group and CenterState in connection with the proposed merger. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS WHEN THEY BECOME AVAILABLE (AND ANY OTHER DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION OR INCORPORATED BY REFERENCE INTO THE JOINT PROXY STATEMENT/PROSPECTUS) BECAUSE SUCH DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION REGARDING THE PROPOSED MERGER AND RELATED MATTERS. Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by Elite Trust Group or CenterState through the website maintained by the SEC at http://www.sec.gov or by contacting the investor relations department of Elite Trust Group or CenterState at:

Elite Trust Group Corporation
CenterState Bank Corporation
520 Gervais Street
1101 First Street South, Suite 202
Columbia, SC 29201-3046
Winter Haven, FL 33880
Attention: Investor Relations
Attention: Investor Relations
(806) 478-3311
(863) 293-4710

Before making any voting or investment decision, investors and security holders of Elite Trust Group and CenterState are urged to read carefully the entire registration statement and joint proxy statement/prospectus when they become available, including any amendments thereto, because they will contain important information about the proposed transaction. Free copies of these documents may be obtained as described above.

Participants in Solicitation
Elite Trust Group, CenterState and certain of their directors and executive officers may be deemed participants in the solicitation of proxies from the shareholders of each of Elite Trust Group and CenterState in connection with the merger. Information regarding the directors and executive officers of Elite Trust Group and CenterState and other persons who may be deemed participants in the solicitation of the shareholders of Elite Trust Group or of CenterState in connection with the merger will be included in the joint proxy statement/prospectus related to the proposed merger, which will be filed by Elite Trust Group with the SEC. Information about the directors and executive officers of Elite Trust Group and their ownership of Elite Trust Group common stock can also be found in Elite Trust Group’s definitive proxy statement in connection with its 2019 annual meeting of shareholders, as filed with the SEC on March 6, 2019, and other documents subsequently filed by Elite Trust Group with the SEC. Information about the directors and executive officers of CenterState and their ownership of CenterState common stock can also be found in CenterState’s definitive proxy statement in connection with its 2019 annual meeting of shareholders, as filed with the SEC on March 12, 2019, and other documents subsequently filed by CenterState with the SEC. Additional information regarding the interests of such participants will be included in the joint proxy statement/prospectus and other relevant documents regarding the merger filed with the SEC when they become available.