Macon-based State Bank's parent company releases its third quarter financial report

Atlanta-based State Bank Financial Corp., the holding company for Macon-based State Bank and Trust Co., announced Thursday operating income of $11.4 million for the third quarter, which ended Sept. 30, compared to $11.7 million for the same quarter last year.

Operating income excludes severance and merger-related expenses that are not considered part of ongoing operations.

Net income for the third quarter of 2015 was $9.1 million, down from $11.5 million for the third quarter of 2014, according to a news release.

Fully diluted earnings per share were 25 cents in the third quarter of 2015 compared to 35 cents for the same quarter last year.

Comparisons to the third quarter of 2014 are affected by State Bank's acquisitions of Atlanta Bancorporation Inc. in October 2014 and Georgia-Carolina Bancshares Inc. in January this year.

In a separate news release Thursday, State Bank and Trust announced it purchased the equipment finance origination platform of Atlanta-based Patriot Capital Corp., a leading provider of equipment financing to the retail petroleum industry. Patriot Capital is a privately owned company with 17 employees that finances equipment throughout the United States.

State Bank Financial Corp. (NASDAQ:STBZ), with about $3.4 billion in assets as of Sept. 30, operates 26 banking offices in metro Atlanta, Middle Georgia and Augusta as well as seven mortgage origination offices.

To contact writer Linda S. Morris, call 744-4223, or find her on Twitter@MidGaBiz.

This story was originally published October 22, 2015 at 5:01 PM with the headline "Macon-based State Bank's parent company releases its third quarter financial report ."