October 22, 2016 3:40 PM ET


Company Overview of Sunshine Bancorp, Inc.

Company Overview

Sunshine Bancorp, Inc. operates as the holding company for Sunshine Bank that provides financial services to individuals, families, and businesses. The company accepts various deposit accounts, including interest-bearing and noninterest-bearing demand and checking, money market, and savings accounts; time deposits; and certificates of deposit. Its loan products include commercial real estate and multi-family loans; one-to-four family residential real estate loans; commercial business loans, such as term loans, lines of credit, agricultural production, equipment financing, and revolving lines of credit; construction and land loans; home equity loans comprising revolving lines of credit, and t...

102 West Baker Street

Plant City, FL 33563

United States

Founded in 1954

128 Employees



Key Executives for Sunshine Bancorp, Inc.

Chief Executive Officer, President, Director, Chief Executive Officer of Sunshine State Bank, President of Sunshine State Bank and Director of Sunshine State Bank
Age: 54
Total Annual Compensation: $370.5K
Chief Risk Officer and Executive Vice President
Age: 62
Total Annual Compensation: $178.4K
Senior Vice President of Corporate Development
Age: 33
Total Annual Compensation: $136.8K
Compensation as of Fiscal Year 2015.

Sunshine Bancorp, Inc. Key Developments

Sunshine Bancorp, Inc. Announces Board Changes

Sunshine Bancorp, Inc. and FBC Bancorp Inc. announced the results of their Special Meetings of Shareholders held on September 28 and September 29. Both meetings resulted in the approval of the proposal to adopt and approve the Merger Agreement of the companies. In addition to shareholder approval, as contemplated by the Merger Agreement, the Sunshine Board of Directors has resolved to increase the size of the Board to fifteen directors, appointing Malcolm Kirschenbaum, Sal A.(Joe) Nunziata, John C. Reich, James T. Swann and Dana S. Kilborne to the serve as new directors of the combined company effective upon the consummation of the merger. Each of these five individuals has previously served as a director of FBC. On September 28, 2016 the Sunshine Board accepted the resignations of current board members J. Floyd Hall, James Coleman Davis and Winfred M. Harrell. These resignations are contingent upon and effective as of the consummation of the merger. Regulatory approvals for the merger are still pending, and the companies anticipate a closing sometime around the middle of the fourth quarter 2016.

Sunshine Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

Sunshine Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. Net income for the three months ended June 30, 2016 was $73,000 compared to net income of $154,000 for the three months ended March 31, 2016 and compared to a net loss of $151,000 for the three months ended June 30, 2015. Net interest income for the second quarter 2016 increased to $3.9 million compared to $1.7 million for the second quarter of 2015. Income before income taxes was $109,000 against loss before tax of $1,549,000 a year ago. Net income for the six months ended June 30, 2016 was $227,000 compared to a net loss of $504,000 during the six months ended June 30, 2015. Net interest income was $7.9 million against $3.4 million a year ago. Income before income taxes was $32,000 against loss before tax of $2,168,000 a year ago.

Sunshine Bancorp, Inc. Appoints Jermaine Crosson as Principal Accounting Officer

On May 25, 2016, the Board of Directors of Sunshine Bancorp, Inc. appointed Jermaine Crosson as Principal Accounting Officer of the company. Mr. Crosson's appointment as Principal Accounting Officer of the company is in addition to his position as Chief Financial Officer of Sunshine Bank, the company's bank subsidiary, which he has held since June 2015. From May 2012 until June 2015, Mr. Crosson was the Controller of Members 1st Federal Credit Union. He was also the Controller of Graystone Tower Bank from 2005 until May 2012. Mr.

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