Florida Bank Group, Inc. Introduces Florida Bank of Jacksonville, Florida Bank of Sarasota and Florida Bank Mortgage

TAMPA, Fla., Jan. Twenty-Eight /PRNewswire/ -- Sunshine State Depository Financial Institution Group, Inc. (FBG), a
Tampa-based depository financial institution retention company, today announced: (i) the combination of
its trading operations in the greater Jacksonville area, which will run under
the name Sunshine State Depository Financial Institution of Jacksonville, (ii) the gap of Sunshine State Depository Financial Institution of
Sarasota in Sarasota, and (iii) the constitution of Sunshine State Depository Financial Institution Mortgage. Sunshine State Depository Financial Institution of Jacksonville added its 2nd banking business office through a
combination with Depository Financial Institution of North Florida. Sunshine State Depository Financial Institution of Jacksonville,
formerly known as Cygnet Private Bank, was acquired by FBG on September 1,
2007. Through the combination, Sunshine State Depository Financial Institution of Jacksonville will continue
to run its existent Ponte Vedra Beach business business office and move its headquarters
to the business district Jacksonville office at 135 W. Bay Street, the former
headquarters of the Depository Financial Institution of North Florida. Additionally, the boards of
directors and direction of the two Banks merged. Seth Thomas E. Josiah Willard Gibbs will
serve as president and J. Jimmy Stewart Baker will be the president and CEO. Mr.
Gibbs and Mr. Baker held these places with the Depository Financial Institution of North Florida. In
addition, T. Edwin Stinson will go EVP and main fiscal officer. Upon shutting the transaction, Sunshine State Depository Financial Institution of Jacksonville had
approximately $160 million in assets and $25 million in entire equity. Construction is underway on a 3rd banking business office in the Avondale/Ortega
area at San Juan Avenue and John Herschel Street. In addition, Sunshine State Depository Financial Institution of
Jacksonville will set up a new full-service business office in Ponte Vedra Beach,
in a newly renovated, free-standing augmenting on A1A between J. Turner
Butler Avenue and Solana Road. Baker commented, "This combination makes a depository financial institution that is much more
than the sum of money of its parts." He continued, "With increased resources,
greater client convenience and deeper professional expertise, Florida
Bank of Jacksonville will drive greater value into each client relationship
and supply enhanced services through the strength of its squad of bankers
in the market." FBG also announced today the gap of Sunshine State Depository Financial Institution of Sarasota in
Sarasota. Veteran Sunshine State banker Michael Worthington will function as the
president and CEO. Sunshine State Depository Financial Institution of Sarasota opened its chief business office at 1432
First Street on January 24, 2008. Plans are underway to set up a new
full- service business office later this year. With approximately $18 million in
capital, Sunshine State Depository Financial Institution of Sarasota is well positioned for growing and
expansion. Worthington stated, "I am proud and energized to convey together a team
of Sarasota's elite banking professionals." He added, "With this degree of
capital and human resources, I am confident that Sunshine State Depository Financial Institution of Sarasota
will go a prima community depository financial institution serving the Sarasota market." Corey J. Coughlin, FBG president and CEO, commented, "We have got combined
two strong organisations into one depository financial institution that volition be able to more
effectively function its clients in the greater Jacksonville market. In
addition, this combination provided a perfect chance to come in a new
market with a separately hired bank, its ain local board of directors
and local direction team." He continued, "With four Banks serving four
markets in Florida, we are well on our manner to edifice a statewide network
of true community banks." FBG also announced today that it have moved to beef up its
residential mortgage inception capableness by attracting industry veteran
Randy Freese to take its residential mortgage attempts under the name
Florida Depository Financial Institution Mortgage. Freese offered, "In response to the recent
developments in the mortgage inception market, we believe that community
banks are well positioned to spread out into this marketplace by virtuousness of the
relationship of trust we bask with our customers." Sunshine State Depository Financial Institution Mortgage
will be a dedicated operation, which will let FBG to offer mortgage
services statewide. Toilet P. Horace Greeley of Ian Smith Mackinnon, dad served as legal adviser to FBG
and the banks. About Sunshine State Depository Financial Institution Group, Inc. Sunshine State Depository Financial Institution Group, Inc. is a depository financial institution retention company headquartered in
Tampa, Florida, which currently carries on banking trading operations through four
wholly-owned subsidiaries: the Depository Financial Institution of St. Petersburg, The Depository Financial Institution of
Tallahassee, Sunshine State Depository Financial Institution of Jacksonville, and Sunshine State Depository Financial Institution of Sarasota. The Depository Financial Institution of St. Petersburg Campaign was founded in 1985, have approximately $540
million in entire assets, and runs seven banking business offices in Hillsborough
and Pinellas counties. Acquired by FBG in May 2007, The Depository Financial Institution of Tallahassee
has approximately $90 million in entire assets and runs three banking
offices in Leon County. Sunshine State Depository Financial Institution of Jacksonville have approximately $160
million in entire assets and runs a banking business business office in downtown
Jacksonville and a banking office in Ponte Vedra Beach. Sunshine State Depository Financial Institution of
Sarasota commenced trading operations in the Sarasota marketplace on January 28th and
currently runs one banking office. FBG had approximately $810 million
in entire assets and $125 million in entire equity as of December 31, 2007.