State Bank Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported total interest income of $6,608,000 compared to $5,910,000 a year ago. Net interest income was $6,190,000 compared to $5,625,000 a year ago. Net interest income after loan loss provision was $6,030,000 compared to $5,575,000 a year ago. Income before provision for income taxes was $2,909,000 compared to $2,789,000 a year ago. Net income was $2,312,000 or $0.29 per basic and diluted share compared to $1,842,000 or $0.23 per diluted share a year ago. Book value per share as at September 30, 2018 was $7.56 compared to $7.24 a year ago. Tangible book value per share was $6.67 compared to $6.31 a year ago. Return on average assets was 1.44% compared to 1.20% a year ago. Return on average equity was 15.19% compared to 12.71% a year ago.

For the nine months, the company reported total interest income of $18,682,000 compared to $16,885,000 a year ago. Net interest income was $17,581,000 compared to $16,038,000 a year ago. Net interest income after loan loss provision was $17,228,000 compared to $16,428,000 a year ago. Income before provision for income taxes was $8,122,000 compared to $7,308,000 a year ago. Net income was $6,298,000 or $0.78 per basic and diluted share compared to $4,754,000 or $0.59 per basic and diluted share a year ago.

For the quarter, the company reported net charge offs of $71,000.