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State Bank Reports Fourth Quarter and Full Year Financial Results

State Bank Reports Fourth Quarter and Full Year Financial Results

ATLANTA, Jan. 30, 2013 (GLOBE NEWSWIRE) -- State Bank Financial Corporation
(Nasdaq:STBZ) today announced unaudited financial results for the quarter and
full year ended December 31, 2012. Net income for the fourth quarter was $9.3
million, compared to $3.4 million for the third quarter of 2012 and $9.1
million for the fourth quarter of 2011.Full year net income was $28.9 million
compared to full year net income of $43.0 million in 2011.Fully diluted
earnings per share was $.28 for the fourth quarter compared to $.10 in the
third quarter of 2012 and $.28 in the fourth quarter of 2011.Year-to-date
fully diluted earnings per share was $.88 compared to $1.32 in 2011.

Commenting on these results, Joe Evans, Chairman and CEO, said, "I remain very
pleased with how the State Bank team is executing in our two primary
businesses: managing our acquired covered assets with the expiration of loss
share firmly in mind while concurrently building a dynamic banking franchise
that will carry us into the future.Highlights for the quarter include
successfully closing the Altera Payrollacquisition and continued solid growth
in organic loans and transaction accounts. We significantly improved the
quality of our client experience in 2012 and I am excited by the momentum we
take into 2013."

Balance Sheet

Total assets at quarter-end were $2.68 billion, up from $2.64 billion at the
end of the third quarter and down from $2.78 billion at the end of 2011.Loans
not covered by loss share agreements with the FDIC grew $48.2 million in the
fourth quarter of 2012 to $985.5 million and have grown $284.5 million in
2012.Noncovered loans now comprise 67.5% of State Bank's total gross
loans.Total net loans were $1.4 billion, down $39.5 million from the third
quarter and $53.6 million from the end of 2011 as covered loans continue to be
resolved.

Total deposits at year-end were $2.15 billion, up from $2.12 billion at the
end of the third quarter and down from $2.30 billion at year-end
2011.Noninterest-bearing deposits grew by $19.7 million, or 5.4%, from the
third quarter and by $90.3 million, or 30.4%, since December 31,
2011.Noninterest-bearing deposits now make up 18.0% of total deposits.

Tangible book value per share increased to $13.25 in the fourth quarter, up
$.07 from the third quarter of 2012 and up $.99 from the fourth quarter of
2011.State Bank Financial Corporation continues to be well capitalized,
finishing 2012 with a leverage ratio of 15.73% and a Tier I risk-based capital
ratio of 29.66%.

Income Statement

Net interest income was $41.8 million in the fourth quarter of 2012, up from
$34.2 million in the third quarter of 2012 and $41.5 million in the fourth
quarter of 2011. The linked quarter increase closely tracked the change in
accretion income on covered loans, which increased $7.4 million from the third
quarter.This linked quarter increase in accretion was primarily due to more
early payoffs and gains from a loan pool close out in the fourth
quarter.Interest income on noncovered loans for the fourth quarter was $15.0
million, up from $14.7 million in the third quarter and $12.5 million in the
fourth quarter of 2011.Yield on noncovered loans of 6.24% was down 24 basis
points in the fourth quarter due to competitive pricing pressure as well as
maturity and repayment of higher-yielding noncovered loans.Interest expense
of $2.1 million in the fourth quarter was down $139 thousand from the third
quarter of 2012 and down $1.5 million from the fourth quarter of 2011.Cost of
funds for the fourth quarter was 39 basis points, a two basis point
improvement from the third quarter of 2012 and a 21 basis point improvement
from the fourth quarter of 2011.

Provision for loan losses on noncovered loans was $325 thousand in the fourth
quarter, down from $1.1 million in the third quarter and $2.9 million in the
fourth quarter of 2011.The organic loan portfolio continues to perform well,
as year-to-date net charge-offs to total average noncovered loans were
.06%.Provision for loan losses on covered loans was $3.0 million in the
fourth quarter, down from $5.4 million in the third quarter and $16.8 million
in the fourth quarter of 2011.The covered loan loss provision is directly
related to impairments resulting from re-estimations of cash flows.The
primary drivers of the changes in the cash flows in the fourth quarter were
centered around residential loan pools and certain specifically reviewed
loans.

Total noninterest income for the fourth quarter was $475 thousand, up from a
negative $3.3 million in the third quarter of 2012 and down from $18.8 million
in the fourth quarter of 2011.Noninterest income in the fourth quarter of
2011 included a $14.9 million gain on acquisitions.Fee income excluding the
amortization of the indemnification asset was $4.7 million for the quarter, up
from $3.0 million in the third quarter driven by higher service charges on
deposits, a $225 thousand gain on sale of investment securities, a $680
thousand gain on FHLB stock redemptions and payroll fee income.Payroll fee
income, a new line item on the income statement following the acquisition of
substantially all of the operating assets of Altera Payroll Inc. on October
16, 2012, was $622 thousand in the quarter.Amortization of the
indemnification asset negatively impacted noninterest income by $4.2 million
in the fourth quarter compared to $6.3 million in the third quarter and
accretion of the indemnification asset that benefited noninterest income by
$122 thousand in the fourth quarter of 2011.

Noninterest expense for the fourth quarter was $24.8 million, up from $19.8
million in the third quarter and down from $27.2 million in the fourth quarter
of 2011. Drivers of the linked-quarter increase were the acquisition of
Altera Payroll, higher net cost of operations of other real estate owned, the
strategic decision to increase staffing in Risk, Audit and Compliance, and an
incentive accrual reversal that lowered third quarter expenses.

Detailed Results

Supplemental tables displaying financial results for fourth quarter 2012, the
previous four quarters and the full year 2012 are included with this press
release.

Conference Call

State Bank Chief Executive Officer Joe Evans, Chief Financial Officer Tom
Callicutt, and Executive Risk Officer Kim Childers will discuss financial and
business results for the quarter and the year on a conference call today at
11:00 a.m. EST.The dial in number is 1.800.618.8682.Please dial in 10
minutes prior to the start of the call to register. You will be asked to
provide your name and affiliation/company to join the call. A replay of the
conference call will be available shortly after the call's completion in the
Investors section on the company's website at www.statebt.com.A slide
presentation for today's call is also available in the Investors section on
the company's website at www.statebt.com.

About State Bank Financial Corporation and State Bank and Trust Company

State Bank Financial Corporation (Nasdaq:STBZ) is the holding company for
State Bank and Trust Company, one of Georgia's best-capitalized banks, with
approximately $2.68 billion in assets as of December 31, 2012. State Bank has
locations in Metro Atlanta and Middle Georgia. State Bank Financial
Corporation is headquartered in Atlanta, Georgia and State Bank and Trust
Company is headquartered in Macon, Georgia.

State Bank was named the best performing community bank in the United States
for 2011 by SNL Financial LC for banks between $500 million and $5 billion in
assets. State Bank was also ranked fourth among the 195 banks in the $1
billion-to-$5 billion-asset category of Bank Director magazine's 2012 Bank
Performance Scorecard, a ranking of U.S. publicly traded banks and thrifts
based on 2011 calendar-year financials.

To learn more about State Bank, visit www.statebt.com

The State Bank Financial Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=14370

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this news release contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995,
such as statements relating to future plans, expectations and benefits of our
strategic plan, and are thus prospective.Such forward-looking statements are
subject to risks, uncertainties, and other factors, such as a downturn in the
economy, unanticipated losses related to the integration of, and accounting
for, acquired assets and assumed liabilities in our FDIC-assisted
transactions, access to funding sources, greater than expected noninterest
expenses, volatile credit and financial markets both domestic and foreign,
potential deterioration in real estate values, regulatory changes and
excessive loan losses, any or all of which could cause actual results to
differ materially from future results expressed or implied by such
forward-looking statements.Although we believe that the assumptions
underlying the forward-looking statements are reasonable, any of the
assumptions could prove to be inaccurate.Therefore, we can give no assurance
that the results contemplated in the forward-looking statements will be
realized.The inclusion of this forward-looking information should not be
construed as a representation by our company or any person that future events,
plans, or expectations contemplated by our company will be achieved.We
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise.

State Bank
Financial                                                                      
Corporation
4Q12 Financial                                                                 
Supplement: Table 1
Condensed
Consolidated                                                                   
Financial Summary
Results
Quarterly                                                             
(Unaudited)
                                                                     4Q12 Change vs.
(Dollars in
thousands, except   4Q12       3Q12       2Q12       1Q12       4Q11       3Q12      4Q11
per share data)
INCOME STATEMENT                                                               
HIGHLIGHTS
Total interest
income on invested  $2,611   $2,862   $3,027   $3,005   $3,154   $(251)  $(543)
funds
Interest income on
noncovered loans,   14,993     14,679     13,722     11,834     12,486     314       2,507
including fees
Accretion income on 26,276     18,893     32,191     23,490     29,408     7,383     (3,132)
covered loans
Total interest      2,096      2,235      2,566      2,852      3,595      (139)     (1,499)
expense
Net interest income 41,784     34,199     46,374     35,477     41,453     7,585     331
Provision for loan
losses (noncovered  325        1,050      2,125      1,535      2,868      (725)     (2,543)
loans)
Provision for loan
losses (covered     3,021      5,441      2,902      (1,283)    16,768     (2,420)   (13,747)
loans)
Noninterest income  475        (3,254)    (1,243)    (3,778)    18,783     3,729     (18,308)
Noninterest expense 24,782     19,835     22,426     23,213     27,227     4,947     (2,445)
Income before       14,131     4,619      17,678     8,234      13,373     9,512     758
income taxes
Income tax expense  4,790      1,261      6,647      3,096      4,284      3,529     506
Net income          $9,341   $3,358   $11,031  $5,138   $9,089   $5,983  $252
COMMON STOCK DATA                                                              
Basic earnings per  $.29       $.11       $.35       $.16       $.29       $.18      $--
share
Diluted earnings    .28        .10        .34        .16        .28        .18       --
per share
Book value per      13.67      13.42      13.24      12.88      12.52      .25       1.15
share at period end
Tangible book value
per share at period 13.25      13.18      12.99      12.62      12.26      .07       .99
end
Market price at     15.88      16.49      15.16      17.51      15.11      (.61)     .77
period end
Period end shares   31,908,665 31,896,738 31,721,236 31,721,236 31,721,236 11,927    187,429
outstanding
Weighted average                                                               
shares outstanding:
Basic               31,904,381 31,654,046 31,613,581 31,611,603 31,611,581 250,335   292,800
Diluted             33,179,198 32,808,726 32,776,553 32,777,121 32,586,069 370,472   593,129
AVERAGE BALANCE                                                                
SHEET HIGHLIGHTS
Noncovered loans,
net of unearned     $955,153 $901,168 $840,428 $740,905 $709,071 $53,985 $246,082
income
Covered loans       504,138    625,701    707,273    788,511    818,901    (121,563) (314,763)
Loans, net of       1,459,291  1,526,869  1,547,701  1,529,416  1,527,972  (67,578)  (68,681)
unearned income
Assets              2,647,687  2,705,134  2,691,432  2,660,418  2,857,643  (57,447)  (209,956)
Deposits            2,114,544  2,182,834  2,190,364  2,203,564  2,404,501  (68,290)  (289,957)
Liabilities         2,212,053  2,274,855  2,271,111  2,253,317  2,461,147  (62,802)  (249,094)
Equity             435,634    430,279    420,321    407,101    396,496    5,355     39,138
Tangible common     425,994    422,456    412,222    398,751    387,784    3,538     38,210
equity
KEY METRICS                                                                    
Return on average   1.40%      .50%       1.65%      .78%       1.26%      .90%      .14%
assets
Return on average   8.53       3.14       10.56      5.08       9.09       5.39      (.56)
equity
Yield on earning    8.14       6.74       9.34       7.60       8.37       1.40      (.23)
assets
Cost of funds       .39        .41        .47        .52        .60        (.02)     (.21)
Rate on
interest-bearing    .48        .49        .55        .60        .69        (.01)     (.21)
liabilities
Net interest margin 7.76       6.33       8.85       7.03       7.70       1.43      .06
Average equity to   16.45      15.91      15.62      15.30      13.87      .54       2.58
average assets
Leverage ratio      15.73      15.44      15.24      15.06      13.76      .29       1.97
Tier I risk-based   29.66      29.95      31.45      32.92      33.84      (.29)     (4.18)
capital ratio
Total risk-based    30.96      31.23      32.77      34.22      35.15      (.27)     (4.19)
capital ratio
Efficiency ratio    58.57      63.98      49.63      73.10      45.15      (5.41)    13.42
(1)
Average loans to    69.01      69.95      70.66      69.41      63.55      (.94)     5.46
average deposits
Noninterest-bearing
deposits to total   18.03      17.31      15.85      14.30      12.93      .72       5.10
deposits
Nonperforming loans
to total noncovered .49        .58        .52        .49        .31        (.09)     .18
loans (2)
Nonperforming
assets to loans +                                                              
ORE:
Noncovered          .60        .67        .63        .60        .48        (.07)     .12
Covered             8.67       9.43       8.07       7.87       9.42       (.76)     (.75)
                                                                              
(1) Calculated on
a fully                                                                        
tax-equivalent
basis.
(2) The ratio of nonperforming covered loans to total covered loans is not presented, as there       
are no covered loans designated as nonperforming.
                                                                              

State Bank
Financial                                                                                
Corporation
4Q12 Financial                                                                           
Supplement: Table 2
Condensed
Consolidated                                                                             
Balance Sheet
Quarterly                                                                                
(Unaudited)
                                                                               4Q12 Change vs.
(Dollars in         4Q12         3Q12         2Q12         1Q12         4Q11       3Q12      4Q11
thousands)
Assets                                                                                   
Cash and amounts
due from depository $11,902    $7,516     $6,921     $11,287    $13,747    $4,386  $(1,845)
institutions
Interest-bearing
deposits in other   433,483      345,399      279,060      199,031      206,785      88,084    226,698
financial
institutions
Cash and cash       445,385      352,915      285,981      210,318      220,532      92,470    224,853
equivalents
Investment
securities          303,901      311,323      280,662      322,832      349,929      (7,422)   (46,028)
available-for-sale
Federal Home Loan   4,120        3,440        4,651        8,802        8,802        680       (4,682)
Bank stock
Loans receivable:                                                                        
Noncovered under
FDIC loss share     985,502      937,331      881,120      802,955      701,029      48,171    284,473
agreements
Covered under FDIC
loss share          474,713      553,006      687,451      743,838      812,154      (78,293)  (337,441)
agreements, net
Allowance for loan
losses (noncovered  (14,660)     (14,330)     (13,317)     (11,681)     (10,207)     (330)     (4,453)
loans)
Allowance for loan
losses (covered     (55,478)     (46,411)     (67,346)     (56,087)     (59,277)     (9,067)   3,799
loans)
Net loans           1,390,077    1,429,596    1,487,908    1,479,025    1,443,699    (39,519)  (53,622)
Mortgage loans held 4,853        2,130        1,907        3,719        6,229        2,723     (1,376)
for sale
Other real estate                                                                        
owned:
Noncovered under
FDIC loss share     1,115        892          976          957          1,210        223       (95)
agreements
Covered under FDIC
loss share          45,062       57,595       60,334       63,572       84,496       (12,533)  (39,434)
agreements
Premises and        35,364       38,282       38,298       36,971       36,760       (2,918)   (1,396)
equipment, net
Goodwill            10,381       6,562        6,562        6,562        6,562        3,819     3,819
Core deposit
intangible and      3,188        1,103        1,360        1,636        1,882        2,085     1,306
other intangibles,
net
FDIC receivable for
loss share          367,927      355,741      419,786      460,593      529,440      12,186    (161,513)
agreements, net
Other assets        73,430       84,165       81,804       81,661       86,793       (10,735)  (13,363)
Total assets        $2,684,803 $2,643,744 $2,670,229 $2,676,648 $2,776,334 $41,059 $(91,531)
Liabilities and
Shareholders'                                                                            
Equity
Noninterest-bearing $387,450   $367,762   $343,214   $312,967   $297,188   $19,688 $90,262
deposits
Interest-bearing    1,760,986    1,756,536    1,821,922    1,875,908    2,001,277    4,450     (240,291)
deposits
Total deposits      2,148,436    2,124,298    2,165,136    2,188,875    2,298,465    24,138    (150,029)
Securities sold
under agreements to 4,755        607          2,845        1,421        4,749        4,148     6
repurchase
Notes payable       2,523        2,527        2,531        2,535        2,539        (4)       (16)
Other liabilities   92,747       88,114       79,663       75,314       73,293       4,633     19,454
Total liabilities   2,248,461    2,215,546    2,250,175    2,268,145    2,379,046    32,915    (130,585)
Total shareholders' 436,342      428,198      420,054      408,503      397,288      8,144     39,054
equity
Total liabilities
and shareholders'   $2,684,803 $2,643,744 $2,670,229 $2,676,648 $2,776,334 $41,059 $(91,531)
equity
Capital Ratios                                                                           
Average equity to   16.45%       15.91%       15.62%       15.30%       13.87%       .54%      2.58%
average assets
Leverage ratio      15.73        15.44        15.24        15.06        13.76        .29       1.97
Tier I risk-based   29.66        29.95        31.45        32.92        33.84        (.29)     (4.18)
capital ratio
Total risk-based    30.96        31.23        32.77        34.22        35.15        (.27)     (4.19)
capital ratio

                                                                        
State Bank
Financial                                                                
Corporation
4Q12 Financial
Supplement:                                                              
Table 3
Condensed
Consolidated                                                             
Income
Statement
Quarterly                                                                
(Unaudited)
                                                                4Q12 Change vs.
(Dollars in
thousands,     4Q12       3Q12       2Q12       1Q12       4Q11       3Q12     4Q11
except per
share data)
Total interest
income on      $2,611   $2,862   $3,027   $3,005   $3,154   $(251) $(543)
invested funds
Interest
income on
noncovered     14,993     14,679     13,722     11,834     12,486     314      2,507
loans,
including fees
Accretion
income on      26,276     18,893     32,191     23,490     29,408     7,383    (3,132)
covered loans
Total interest 2,096      2,235      2,566      2,852      3,595      (139)    (1,499)
expense
Net interest   41,784     34,199     46,374     35,477     41,453     7,585    331
income
Provision for
loan losses    325        1,050      2,125      1,535      2,868      (725)    (2,543)
(noncovered
loans)
Provision for
loan losses    3,021      5,441      2,902      (1,283)    16,768     (2,420)  (13,747)
(covered
loans)
Net interest
income after   38,438     27,708     41,347     35,225     21,817     10,730   16,621
provision for
loan losses
Noninterest                                                              
income:
Accretion
(amortization)
of FDIC        (4,199)    (6,291)    (4,007)    (7,011)    122        2,092    (4,321)
receivable for
loss share
agreements
Service
charges on     1,408      1,298      1,199      1,212      1,370      110      38
deposits
Mortgage       363        255        311        302        349        108      14
banking income
Gain (loss) on
sale of        225       --       --       93         (20)       225      245
investment
securities
Gains on FHLB
stock          680       101       434        --       772        579      (92)
redemptions
Gains on       --       --       --       --       14,890     --     (14,890)
acquisitions
Payroll fee    622       --       --       --       --       622      622
income
ATM income     619        611        610        585        551        8        68
Other          757        772        210        1,041      749        (15)     8
Total
noninterest    475        (3,254)    (1,243)    (3,778)    18,783     3,729    (18,308)
income
Noninterest                                                              
expense:
Salaries and
employee       15,134     12,811     13,628     12,963     14,333     2,323    801
benefits
Occupancy and  2,500      2,469      2,419      2,457      2,795      31       (295)
equipment
Legal and
professional   1,669      1,265      2,173      1,517      1,342      404      327
fees
Marketing      968        573        366        264        935        395      33
Federal
insurance
premiums and   673        378        355        418        193        295      480
other
regulatory
fees
Net cost of
operations of  928        (484)      458        2,078      4,322      1,412    (3,394)
other real
estate owned
Data           1,272      1,196      1,336      1,864      1,387      76       (115)
processing
Core deposit
intangible and
other          251        256        276        246        241        (5)      10
intangibles
amortization
expense
Other          1,387      1,371      1,415      1,406      1,679      16       (292)
Total
noninterest    24,782     19,835     22,426     23,213     27,227     4,947    (2,445)
expense
Income before  14,131     4,619      17,678     8,234      13,373     9,512    758
income taxes
Income tax     4,790      1,261      6,647      3,096      4,284      3,529    506
expense
Net income     $9,341   $3,358   $11,031  $5,138   $9,089   $5,983 $252
Basic earnings $.29     $.11     $.35     $.16     $.29     $.18   $--
per share
Diluted
earnings per   .28        .10        .34        .16        .28        .18      --
share
Weighted
average common                                                           
shares
outstanding:
Basic          31,904,381 31,654,046 31,613,581 31,611,603 31,611,581 250,335  292,800
Diluted        33,179,198 32,808,726 32,776,553 32,777,121 32,586,069 370,472  593,129

                                                                
State Bank Corporation                                           
4Q12 Financial Supplement: Table 4                               
Condensed Consolidated Income                                    
Statement
Annually (Unaudited)                                             
                                      For the twelve months ended 
(Dollars in thousands, except per      2012          2011          YTD Change
share data)
Total interest income on invested      $11,505     $11,539     $(34)
funds
Interest income on noncovered loans,   55,228        38,495        16,733
including fees
Accretion income on covered loans      100,850       116,967       (16,117)
Total interest expense                 9,749         21,773        (12,024)
Net interest income                    157,834       145,228       12,606
Provision for loan losses (noncovered  5,035         6,482         (1,447)
loans)
Provision for loan losses (covered     10,081        20,034        (9,953)
loans)
Net interest income after provision    142,718       118,712       24,006
for loan losses
Noninterest income:                                              
Accretion (amortization) of FDIC       (21,508)      10,257        (31,765)
receivable for loss share agreements
Service charges on deposits            5,117         5,601         (484)
Mortgage banking income                1,231         994           237
Gain (loss) on sale of investment      318          (54)         372
securities
Gains on FHLB stock redemptions        1,215        2,478        (1,263)
Gains on acquisitions                  --          14,890       (14,890)
Payroll fee income                     622          --          622
ATM income                             2,425         2,105         320
Other                                  2,780         5,100         (2,320)
Total noninterest income               (7,800)       41,371        (49,171)
Noninterest expense:                                             
Salaries and employee benefits         54,536        50,198        4,338
Occupancy and equipment                9,845         8,692         1,153
Legal and professional fees            6,624         6,517         107
Marketing                              2,171         3,475         (1,304)
Federal insurance premiums and other   1,824         2,019         (195)
regulatory fees
Net cost of operations of other real   2,980         10,735        (7,755)
estate owned
Data processing                        5,668         4,788         880
Core deposit intangible and other      1,029         948           81
intangibles amortization expense
Other                                  5,579         6,177         (598)
Total noninterest expense              90,256        93,549        (3,293)
Income before income taxes             44,662        66,534        (21,872)
Income tax expense                     15,794        23,528        (7,734)
Net income                             $28,868     $43,006     $(14,138)
Basic earnings per share               $.91        $1.36       $(.45)
Diluted earnings per share             .88           1.32          (.44)
Weighted average common shares                                   
outstanding:
Basic                                  31,696,358    31,611,303    85,055
Diluted                                32,890,274    32,623,056    267,218

                                                                                     
State Bank
Financial                                                                             
Corporation
4Q12 Financial                                                                        
Supplement: Table 5
Condensed Consolidated
Composition of Loans and                                                               
Deposits
Quarterly                                                                             
(Unaudited)
                                                                          4Q12 Change vs.
(Dollars in         4Q12         3Q12        2Q12         1Q12       4Q11       3Q12        4Q11
thousands)
Composition of                                                                        
Loans
Noncovered loans:                                                                     
Construction, land  $230,448   $249,739  $253,980   $212,165 $162,382 $(19,291) $68,066
& land development
Other commercial    457,729     411,574    356,476     339,084   307,814   46,155      149,915
real estate
Total commercial    688,177     661,313    610,456     551,249   470,196   26,864      217,981
real estate
Commercial &        35,390       33,817      35,186       38,021     35,817     1,573       (427)
industrial
Owner-occupied real 172,445     163,327    154,533     152,552   139,128   9,118       33,317
estate
Total commercial &  207,835     197,144    189,719     190,573   174,945   10,691      32,890
industrial
Residential real    43,179       41,514      41,449       39,356     33,738     1,665       9,441
estate
Consumer & other    46,311       37,360      39,496       21,777     22,150     8,951       24,161
Total noncovered    985,502      937,331     881,120      802,955    701,029    48,171      284,473
loans
Covered loans:                                                                        
Construction, land  81,288       98,546      136,200      176,164    190,110    (17,258)    (108,822)
& land development
Other commercial    139,010      165,148     208,975      212,783    233,575    (26,138)    (94,565)
real estate
Total commercial    220,298      263,694     345,175      388,947    423,685    (43,396)    (203,387)
real estate
Commercial &        14,859       21,281      29,298       32,722     38,174     (6,422)     (23,315)
industrial
Owner-occupied real 86,612       100,151     118,848      128,219    143,523    (13,539)    (56,911)
estate
Total commercial &  101,471      121,432     148,146      160,941    181,697    (19,961)    (80,226)
industrial
Residential real    142,032      156,368     180,167      177,790    189,109    (14,336)    (47,077)
estate
Consumer & other    10,912       11,512      13,963       16,160     17,663     (600)       (6,751)
Total covered loans 474,713      553,006     687,451      743,838    812,154    (78,293)    (337,441)
Total loans         $1,460,215 $1,490,337 $1,568,571 $         $         $(30,122) $(52,968)
                                                          1,546,793  1,513,183
Composition of                                                                        
Deposits
Noninterest-bearing $387,450   $367,762  $343,214   $312,967 $297,188 $19,688   $90,262
demand deposits
Interest-bearing
transaction         355,651      324,305     331,550      316,738    359,020    31,346      (3,369)
accounts
Savings and money   949,631      960,714     1,016,619    1,103,151  1,140,552  (11,083)    (190,921)
market accounts
Time deposits less  201,658      208,769     222,402      249,047    274,415    (7,111)     (72,757)
than $100,000
Time deposits       147,363      157,414     170,844      196,197    213,200    (10,051)    (65,837)
$100,000 or greater
Brokered and
wholesale time      106,683      105,334     80,507       10,775     14,090     1,349       92,593
deposits
Total deposits      $2,148,436 $2,124,298 $2,165,136 $         $         $24,138   $(150,029)
                                                          2,188,875  2,298,465

                                                                      
State Bank
Financial                                                              
Corporation
4Q12 Financial
Supplement:                                                            
Table 6
Condensed
Consolidated                                                           
Asset Quality
Data
Quarterly                                                              
(Unaudited)
                                                           4Q12 Change vs.
(Dollars in    4Q12      3Q12      2Q12      1Q12      4Q11      3Q12        4Q11
thousands)
Nonperforming
noncovered                                                             
assets:
Nonaccrual     $2,621  $4,117  $4,197  $3,561  $1,905  $(1,496)  $716
loans
Troubled debt  2,171    1,297    347      335      256      874         1,915
restructurings
Total
nonperforming  4,792     5,414     4,544     3,896     2,161     (622)       2,631
noncovered
loans
Other real     1,115     892       976       957       1,210     223         (95)
estate owned
Total
nonperforming  5,907     6,306     5,520     4,853     3,371     (399)       2,536
noncovered
assets
Nonperforming
covered                                                                
assets:
Other real
estate         $45,062 $57,595 $60,334 $63,572 $84,496 $(12,533) $(39,434)
owned(1)
Noncovered                                                             
assets:
Year-to-date   $669    $667    $555    $68     $1,744  $2        $(1,075)
charge-offs
Year-to-date   87        80        5         7         118       7           (31)
recoveries
Year-to-date
net            $582    $587    $550    $61     $1,626  $(5)      $(1,044)
charge-offs
Ratios:                                                                
Annualized YTD
net
charge-offs to .06%      .09%      .13%      .03%      .23%      (.03)%      (.17)%
total average
noncovered
loans
Nonperforming
loans to total .49       .58       .52       .49       .31       (.09)       .18
noncovered
loans (2)
Nonperforming
assets to                                                              
loans + ORE:
Noncovered     .60       .67       .63       .60       .48       (.07)       .12
Covered        8.67      9.43      8.07      7.87      9.42      (.76)       (.75)
Allowance for
loan losses to                                                         
loans:
Noncovered     1.49      1.53      1.51      1.45      1.46      (.04)       .03
Covered        11.69     8.39      9.80      7.54      7.30      3.30        4.39
                                                                      
(1)Total nonperforming assets for covered assets consist of
other real estate only. There are no covered loans designated as            
nonperforming.
(2)The ratio of nonperforming loans to total loans is disclosed for noncovered loans only    
because there are no covered loans designated as nonperforming.

                                                                              
State Bank
Financial                                                                      
Corporation
4Q12 Financial                                                                 
Supplement: Table 7
Condensed
Consolidated                                                                   
Average Balances
and Yield Analysis
Quarterly                                                                      
(Unaudited)
                                                                     4Q12 Change vs.
(Dollars in         4Q12       3Q12       2Q12       1Q12       4Q11       3Q12      4Q11
thousands)
Selected Average                                                               
Balances
Interest-bearing
deposits in other   $371,873 $333,882 $258,178 $158,949 $261,853 $37,991 $110,020
financial
institutions
Taxable investment  302,634    280,432    292,678    333,661    365,388    22,202    (62,754)
securities
Nontaxable
investment          12,173     12,263     12,469     10,199     11,267     (90)      906
securities, tax
equivalent basis
Noncovered loans    955,153    901,168    840,428    740,905    709,071    53,985    246,082
receivable (1)
Covered loans       504,138    625,701    707,273    788,511    818,901    (121,563) (314,763)
receivable
Total earning      2,145,971  2,153,446  2,111,026  2,032,225  2,166,480  (7,475)   (20,509)
assets
Total nonearning   501,716    551,688    580,406    628,193    691,163    (49,972)  (189,447)
assets
Total assets       2,647,687  2,705,134  2,691,432  2,660,418  2,857,643  (57,447)  (209,956)
Interest-bearing
transaction         315,541    321,328    323,126    310,662    309,991    (5,787)   5,550
accounts
Savings & money     954,260    997,939    1,052,130  1,115,877  1,204,433  (43,679)  (250,173)
market deposits
Time deposits less  205,048    215,048    237,154    262,116    322,617    (10,000)  (117,569)
than $100,000
Time deposits       259,019    264,222    247,466    214,205    261,114    (5,203)   (2,095)
$100,000 or greater
FHLB advances       --       --       --       --       4,566      --      (4,566)
Notes payable       2,525      2,529      2,533      2,537      2,541      (4)       (16)
Securities sold
under agreements to 5,352      2,448      2,776      3,564      4,030      2,904     1,322
repurchase
Total
interest-bearing    1,741,745  1,803,514  1,865,185  1,908,961  2,109,292  (61,769)  (367,547)
liabilities
Noninterest-bearing 380,676    384,297    330,488    300,704    306,346    (3,621)   74,330
demand deposits
Other liabilities   89,632     87,044     75,438     43,652     45,509     2,588     44,123
Shareholders'       435,634    430,279    420,321    407,101    396,496    5,355     39,138
equity
Total liabilities
and shareholders'   2,647,687  2,705,134  2,691,432  2,660,418  2,857,643  (57,447)  (209,956)
equity
Interest Margins                                                               
(2)
Interest-earning
deposits in other   .27        .22        .24        .26        .32        .05       (.05)
financial
institutions
Taxable investment  2.96       3.65       3.80       3.37       3.07       (.69)     (.11)
securities
Nontaxable
investment
securities, tax     5.26       5.28       5.41       6.33       6.59       (.02)     (1.33)
equivalent basis
(3)
Noncovered loans    6.24       6.48       6.57       6.42       6.99       (.24)     (.75)
receivable
Covered loans       20.73      12.01      18.31      11.98      14.57      8.72      6.16
receivable
Total earning      8.14%      6.74%      9.34%      7.60%      8.37%      1.40%     (.23)%
assets
Interest-bearing
transaction         .11        .12        .12        .13        .12        (.01)     (.01)
accounts
Savings & money     .45        .46        .51        .50        .54        (.01)     (.09)
market deposits
Time deposits less  .62        .67        .86        1.12       1.17       (.05)     (.55)
than $100,000
Time deposits       .83        .85        .95        1.08       1.38       (.02)     (.55)
$100,000 or greater
FHLB advances       --       --       --       --       .94        --      (.94)
Notes payable       8.67       8.49       8.32       8.72       8.39       .18       .28
Securities sold
under agreements to .07        .10        .10        .11        .27        (.03)     (.20)
repurchase
Total
interest-bearing    .48        .49        .55        .60        .69        (.01)     (.21)
liabilities
Net interest       7.66       6.25       8.78       7.00       7.68       1.41      (.02)
spread
Net interest       7.76%      6.33%      8.85%      7.03%      7.70%      1.43%     .06%
margin
                                                                              
(1) The above amount includes nonaccrual loans of $3,337 for 4Q12, $4,114 for 3Q12, $4,053 for        
2Q12, $3,340 for 1Q12, and $2,562 for 4Q11.
(2) Annualized for the applicable period.                                                             
(3) Reflects taxable equivalent adjustments using the statutory tax rate of 35% in adjusting
interest on tax-exempt securities to fully taxable basis. The taxable equivalent adjustments          
included above amount to $56 for 4Q12, $57 for 3Q12, $59 for 2Q12, $56 for 1Q12, and $65 for
4Q11.
                                                                              

CONTACT: Media: David Rubinger
         404.502.1240 / david@rubinger.com
         Investor Relations: David Black
         404.266.4490 / david.black@statebt.com

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