South State Corporation (NASDAQ: SSB) ("South State") and CenterState Bank Corporation (NASDAQ: CSFL) ("CenterState") announced the Board of Directors designated to serve the combined company upon completion of the merger. The Board of the new company will consist of 16 directors, eight current South State directors and eight current CenterState directors.

Robert R. Hill, Jr., President and CEO of South State Corporation, will serve as Executive Chairman of the combined company. "Both CenterState and South State are fortunate to be supported by very strong board members. I am looking forward to working with a combined board of directors that brings diverse and valuable skill sets to the company. We are blending a complementary culture and a team of directors with similar values and a shared vision for South State," said Hill.

John Corbett, CEO of CenterState Bank Corporation, will serve as CEO of the combined company. "We continue to make significant steps in bringing our two companies together, and designating the combined board is a meaningful step forward. These directors combine significant institutional knowledge from both companies with the capability to provide meaningful strategic counsel and oversight for the resulting company. I look forward to working with this team and benefitting from the guidance and counsel they will provide," said Corbett.

The merger is expected to close in the third quarter of 2020, subject to satisfaction of customary closing conditions, including receipt of customary regulatory approvals and approval by the shareholders of each company.