State Bank Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total interest income of $6,245,000 against $5,558,000 a year ago. Net interest income was $5,873,000 against $5,282,000 a year ago. Net interest income after loan loss provision was $5,715,000 against $5,722,000 a year ago. Income before provision for income taxes was $2,798,000 against $2,298,000 a year ago. Net income was $2,137,000 or $0.26 per diluted share against $1,480,000 or $0.18 per basic and diluted share a year ago. Book value per share as at June 30, 2018 was $7.40 against $7.07 a year ago. Tangible book value per share as at June 30, 2018 was $6.50 against $6.13 a year ago. Return on average assets was 1.33% against 0.99% a year ago. Return on average equity was 14.48% against 10.51% a year ago.

For the six months, the company reported total interest income of $12,074,000 against $10,975,000 a year ago. Net interest income was $11,391,000 against $10,413,000 a year ago. Net interest income after loan loss provision was $11,198,000 against $10,853,000 a year ago. Income before provision for income taxes was $5,213,000 against $4,519,000 a year ago. Net income was $3,986,000 or $0.49 per basic and diluted share against $2,913,000 or $0.36 per basic and diluted share a year ago.

For the quarter, the company reported net charge offs of $133,000 against $456,000 a year ago.