State Bank Financial Corp., the holding company for Macon-based State Bank & Trust Co., reported a drop in net income for the second quarter compared to a year ago.
Net income for the second quarter was $137,000, compared to net income of $11 million for the second quarter of 2012, according to a news release. The company reported a net loss of $1.2 million for the first quarter of 2013.
Total assets at the end of the second quarter in 2013 were $2.61 billion, down from $2.67 billion for the same quarter last year, the release stated. Loans not covered by loss share agreements with the Federal Deposit Insurance Corp. grew a net $71.7 million from the first quarter of 2013 to $1.1 billion and have increased a net $242 million year over year. Total net loans were $1.4 billion, down $64.5 million from the second quarter of 2012 as covered loans continue to be resolved.