State Bank Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, total interest income was $5,558,000 against $3,260,000 last year. Net interest income was $5,282,000 against $3,003,000 last year. Income before provision (benefit) for income taxes was $2,298,000 against $1,610,000 last year. Net income was $1,480,000 or $0.18 per basic and diluted share against $974,000 or $0.17 per basic and diluted share last year. Return on average assets was 0.99% against 1.13% last year. Return on average equity was 10.51% against 10.05% last year. Return on average common equity, excluding acquisition related costs, net was 10.70% against 10.73% reported in first quarter ended March 31, 2017. Return on average assets, excluding acquisition related costs, net was 1.01% against 1.00% reported in first quarter ended March 31, 2017. Non-GAAP basic and diluted earnings per share were $0.19 against $0.18 reported in first quarter ended March 31, 2017. Net income, excluding acquisition related costs, net was $1,506,000 against $1,467,000 reported in first quarter ended March 31, 2017.

For the six months, total interest income was $10,975,000 against $6,466,000 last year. Net interest income was $10,413,000 against $6,023,000 last year. Income before provision (benefit) for income taxes was $4,519,000 against $2,689,000 last year. Net income was $2,913,000 or $0.36 per basic and diluted share against $1,674,000 or $0.29 per basic and diluted share last year. Book value per share was $7.07 against $6.71 a year ago. Tangible book value per share was $5.83 against $6.71 a year ago.

For the second quarter ended June 30, 2017, the company reported net charge offs of $456,000 against $5,000 a year ago.