CenterState director Lawrence Maxwell quits board
Lawrence Maxwell, the largest individual shareholder of CenterState Banks Inc., resigned from the board of directors of the company and from the board of its lead subsidiary bank, CenterState Bank of Florida N.A.
Maxwell’s decision to resign was based on other business issues and personal time constraints, and there were no disagreements with Maxwell, the board and management, a filing with the Securities and Exchange Commission said.
Maxwell said he intends to continue as a customer and supportive shareholder of CenterState, the filing said.
Maxwell, the chairman of Century Realty Funds Inc., a residential and commercial real estate company, had been a director of CenterState since 2002.
As of March 3, he controlled 1.6 million shares of CenterState (NASDAQ: CSFL) stock, or 6.21 percent of the total common stock, according to the company’s proxy filing in March.
CenterState, headquartered in Davenport, is a multi-bank holding company that operates through four wholly owned subsidiary banks with 43 locations in 12 central Florida counties.
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