State Bank releases fourth quarter and 2015 financial results

State Bank Financial Corp. recently announced unaudited financial results for the fourth quarter and full year at the end of January.

Operating income for the fourth quarter of 2015 was $12.1 million, or 33 cents per fully diluted share, compared to $8.7 million, or 24 cents per share, for the same quarter of 2014.

Full year operating income for 2015 was $40.7 million, or $1.10 per fully diluted share, compared to $32.5 million, or 98 cents per share, for 2014.

Net income for the fourth quarter of 2015 was $12.1 million, compared to $9.1 million for the fourth quarter of 2014. Fully diluted earnings per share were 33 cents in the fourth quarter of 2015, compared to 26 cents in the same quarter of 2014.

Total assets at the end of 2015 were $3.5 billion, up from $2.9 billion at the end of 2014. Total deposits Dec. 31 were $2.9 billion, up from $2.4 billion at the end of the fourth quarter 2014.

Comparisons to the fourth quarter of 2014 are affected by State Bank's acquisitions of Atlanta Bancorporation Inc. in 2014 and Georgia-Carolina Bancshares Inc. on Jan. 1, 2015.

Net operating income for the quarter ended Dec. 31 increased $3.4 million compared to the fourth quarter of 2014. Net income increased $4.5 million from the fourth quarter of 2014.

Noninterest income, excluding amortization of the FDIC receivables, increased $2.8 million in the fourth quarter of 2015 compared to the fourth quarter of 2014.

Total loans increased $525.7 million during the year-over-year period. Excluding the effect of $292.4 million of acquired loans, loan growth was $294.0 million year over year. Total deposits increased $470.3 million for the quarter ended Dec. 31, compared to the same quarter of 2014.

State Bank Financial Corp. (NASDAQ: STBZ) is an Atlanta-based bank holding company for State Bank and Trust Co. State Bank operates 26 banking offices in metro Atlanta, Middle Georgia and Augusta and seven mortgage origination offices.

This story was originally published February 1, 2016 at 6:31 PM with the headline "State Bank releases fourth quarter and 2015 financial results ."