CenterState Banks of Florida, Inc. (“CSFL”), Winter Haven, Florida has executed a letter of intent to acquire CenterState Bank Mid Florida in a deal valued at approximately $14.5 million, or 187% of Mid Florida’s tangible book value. Under the terms of the agreement, CenterState Banks of Florida, Inc. would pay $4.35 in cash and $10.15 in stock for each share of Mid Florida common stock. CenterState Bank Mid Florida is headquartered in Leesburg, FL with branches in Clermont and Groveland. The deal is expected to close in the first quarter of 2006. The Carson Medlin Company is serving as financial advisor to CenterState Bank Mid Florida in this transaction.