State Bank Corp. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the first quarter, the company's total revenue was $6,349,000 against $3,612,000 a year ago. Net interest income was $5,137,000 against $3,019,000 a year ago. Income before provision for income taxes was $2,221,000 against $1,079,000 a year ago. Net income was $1,433,000 against $700,000 a year ago. Basic and diluted EPS was $0.18 per share against $0.12 per share a year ago. Book value per share was $6.86 per share against $6.52 per share a year ago. Return on average assets was 0.98% against 0.86% a year ago. Return on average equity was 10.48% against 7.40% a year ago. Return on average common equity, excluding acquisition related costs, net was 10.73% against 8.62% a year ago. Return on average assets, excluding acquisition related costs, net was 1.00% against 1.00% a year ago. Net income, excluding acquisition related costs, net was $1,467,000 against $816,000 a year ago.

For the first quarter, the company's net charge-offs were $73,000.