CenterState Bank Corp. CSFL, -2.52% and South State Corp. SSB, -2.75% said Monday they have agreed to combine in an all-stock deal with a market value of about $6 billion. Under the terms of the deal, CenterState shareholders will receive 0.3001 shares of South State for each share owned. CenterState shareholders will own about 53% of the new entity, while South State shareholders will own 47%. The new entity will operate under the South State name and trade under its ticker symbol on Nasdaq. It will be headquartered ion Winter Haven, Florida and maintain a significant presence in Columbia and Charleston, South Carolina, Charlotte, North Carolina and Atlanta, Georgia. The deal is expected to close in the third quarter. The combined company will have about $34 billion in assets and $26 billion in deposits. The banks are expecting the deal to drive more than 20% accretion to South State once cost savings of $80 million are achieved by 2022. CenterState shares rose 6% in premarket trade, while South State stock was not yet active.