Item 8.01. Other Events.

On September 30, 2009, CenterState Banks, Inc. (the "Company") repurchased 27,875 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, liquidation preference $1,000 per share (the "Preferred Stock") that the Company issued to the U. S. Department of the Treasury in November 2008, at the liquidation preference amount plus accrued and unpaid dividends, for an aggregate repurchase price of approximately $28,049,000.

As a result of the Company's repurchasing the Preferred Stock, the Company will incur a one-time, non-cash negative adjustment of approximately $946,000 in its calculation of basic and diluted earnings per share (reduction to earnings (losses) applicable to the Company's common shareholders) for the three month and nine month periods ended September 30, 2009 due to the accelerated amortization of issuance discount for the Preferred Stock. The repurchase of such Preferred Stock will be accretive to earnings per common share in subsequent quarters.

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