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Sunshine Bancorp, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2017 10-Q, filed Nov 9, 2017. Its latest SEC filing is a SC 13G from Feb 13, 2018.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Provides retail and commercial banking services, including deposits and loans, to individuals, families, businesses and nonprofits in central Florida.

How Did They Make Money?

Most revenue comes from interest and fees tied to real estate and other loans, plus interest on investment securities. Other income includes deposit-account service charges and mortgage-broker fees.

FY2016 revenue

Who Were Their Customers?

Customers can use the bank’s branches and online and mobile banking services. Residential mortgages are originated through mortgage correspondents, and the bank brokers some loans through wholesale lenders.

Did Revenues Turn Into Profits?

No. It lost $43K in FY2016.

Net income, FY2016
0% of revenue
▲ +98% (Loss) vs FY2015 (−$2.2M, −18%)

How Were They Changing?

Since the FY2016 annual report
Latest quarter: Q3 FY2017, the three months to Sep 30, 2017
Revenue
▲ +89%
vs $4.8M in Q3 FY2016
Net income
▲ +546%
vs $244K in Q3 FY2016
  • Jan 2, 2018 Sunshine Bancorp merged into CenterState and was delisted Each Sunshine share entitled its holder to 0.89 CenterState shares.
  • Aug 15, 2017 Agreed to merge with CenterState Sunshine shareholders were to receive 0.89 CenterState shares for each Sunshine share.

Grew. Revenue grew 71% in 1 year, from $12.7M in FY2015 to $21.7M in FY2016, about 71% a year.

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