State Bank Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, total interest income was $5,059,000 against $3,409,000 last year. Net interest income was $4,765,000 against $3,255,000 last year. Income before provision (benefit) for income taxes was $2,024,000 against $1,658,000 last year. Net income was $1,190,000 or $0.16 per basic and diluted share against $1,067,000 or $0.18 per basic and diluted share last year. Return on average assets was 0.91% against 1.26% last year. Return on average equity was 9.69% against 11.63% last year. Return on average common equity, excluding acquisition related costs, net was 11.67% against 11.63% a year ago. Return on average assets, excluding acquisition related costs, net was 1.10% against 1.26% a year ago. Non-GAAP basic and diluted earnings per share were $0.20 against $0.18 a year ago. Net income, excluding acquisition related costs, net was $378,000. Tangible book value was $5.83 against $6.34 last year.

For the nine months, total interest income was $11,525,000 against $9,693,000 last year. Net interest income was $10,788,000 against $9,238,000 last year. Income before provision (benefit) for income taxes was $4,713,000 against $3,878,000 last year. Net income was $2,864,000 or $0.45 per basic and diluted share against $2,520,000 or $0.43 per basic and diluted share last year.

For the third quarter ended September 30, 2016, the company reported net charge offs of $56,000 against $370,000 a year ago.