WINTER HAVEN, Fla., April 17, 2014 /PRNewswire/ -- CenterState Banks, Inc. (NASDAQ: CSFL) today announced that it has hired Rick Ruso as Managing Director to boost loan trading and hedging activity at CenterState Bank ("CenterState"). Rick previously served as Managing Director at PCBB Capital Markets, and will now be responsible for helping to manage loan hedging (the "ARC Program") and the, soon to be released, National-to-Local loan sales program for CenterState and its nationwide network of correspondent banks.
"This is a difficult market for quality loan growth; banks must find ways to meet fixed rate demand, diversify across asset classes, and increase profitability without putting the balance sheet at risk," said Rick. "CenterState, with its industry expertise, balance sheet and national correspondent banking platform, is perfectly positioned to assist community banks in reaching the next level of performance."
Prior to PCBB Capital Markets, Rick Ruso maintained key accounts within Wells Fargo Bank's Real Estate Group. This experience provided a strong lending background to complement current duties in hedging, loan structuring and underwriting. Rick also worked as an analyst in Applied Materials' Corporate Trade Division. Rick received his Bachelor of Science and MBA from Santa Clara University.
"Rick will turbo charge our program as he has expertise in banking, commercial lending and hedging," said Chris Nichols, CenterState Bank's Chief Strategy Officer. "Most importantly, Rick is a great teacher and can work with financial institutions to explain new products and to help banks implement them to drive profitable growth."
For more information, please contact Chris Nichols at 925.202.8944 ([email protected]).
About CenterState Banks
CenterState Banks, Inc., headquartered in Davenport, Florida, is a $3 billion total asset sized bank holding company with a nationally chartered bank: CenterState Bank of Florida. Presently, the Company operates through 59 branches in eighteen counties throughout Central Florida, providing traditional deposit and lending products and services to its commercial and retail customers. The Company, through its Correspondent Division, also provides clearing/cash management, fixed income; loan sales services; hedging; foreign exchange; fed funds purchased products; safekeeping; bond accounting; asset/liability; strategic planning and consulting services to financial institutions located throughout the United States.
SOURCE CenterState Banks, Inc.