State Bank Financial Corp., the holding company for Macon-based State Bank and Trust Co., reported net income of $7.5 million for the second quarter, compared to $4.3 million for the same quarter last year.
Net interest income was $33.1 million in the second quarter, down from $41.6 million in the second quarter of 2013, according to a news release.
Fully diluted earnings per share were 22 cents in the second quarter compared to 13 cents for the same quarter of 2014, the release stated.
Total assets as of June 30 were $2.58 billion, down from $2.61 billion on the same date last year. Loans not covered by loss share agreements with the Federal Deposit Insurance Corp. increased to $1.23 billion at the end of the second quarter, a net increase of $63.4 million from the first quarter of 2014. Noncovered loans comprised 85.3 percent of total gross loans at the end of June.
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Total deposits at the end of the second quarter were $2.12 billion, compared to $2.13 billion at the end of the same quarter last year.
“(Thursday) marks the fifth anniversary of State Bank as well as the expiration of the loss share coverage under our commercial loss share agreements for our first acquisition, and I could not be more pleased with where we stand,” Chairman and CEO Joe Evans said in the release. “I look forward to continuing our positive momentum in the second half of the year.”
To contact writer Linda S. Morris, call 744-4223.