State Bank Reports First Quarter Financial Results; Positive Fundamental Trends Obscured by Timing of Revenue Recognition

State Bank Reports First Quarter Financial Results; Positive Fundamental
Trends Obscured by Timing of Revenue Recognition

ATLANTA, April 25, 2013 (GLOBE NEWSWIRE) -- State Bank Financial Corporation
(Nasdaq:STBZ) today announced unaudited financial results for the quarter
ended March 31, 2013. Net loss for the first quarter was $1.2 million,
compared to net income of $3.2 million for the fourth quarter of 2012 and net
income of $5.1 million for the first quarter of 2012. Fully diluted loss per
share was $.04 for the first quarter compared to fully diluted earnings per
share of $.09 in the fourth quarter of 2012 and fully diluted earnings per
share of $.16 in the first quarter of 2012.

Commenting on the results, Joe Evans, Chairman and CEO, said, "Financial
results for the quarter again reflected solid operating trends in both our
core franchise and in the resolution of our assets covered by loss share. In
our traditional banking operations, organic loans grew to more than $1
billion, demand deposits grew to more than $400 million, and our cost of funds
was down to 38 basis points in the quarter. In our loss share covered part of
the bank, positive trends are somewhat obscured by timing differences between
slower recognition of income from increased accretable discount and the more
rapid recognition of indemnification asset amortization, both of which
directly result from higher than expected collections. This timing disconnect
will continue to impact earnings until our larger loss share agreements expire
in 2014. Further, expenses were elevated in the quarter as we recognized
severance costs related to efficiency actions that will have a meaningful
positive impact on our future earnings."

Tom Wiley, Vice Chairman and President, added, "I am very pleased with our
continued progress in prudently growing organic loans and our momentum in
attracting and deepening core deposit relationships. Operating efficiency is
very much front of mind, and the decisions we are making today are positioning
our company for long-term sustainable profitability."

Operating Highlights

Net interest income was $35.5 million in the first quarter of 2013, down from
$43.2 million in the fourth quarter of 2012 and relatively flat compared to
the first quarter of 2012. Accretion income on covered loans declined $7.2
million from the fourth quarter. While the base accretion was higher due to
improved cash flow re-estimations and lower loss assumptions, the
linked-quarter decrease was primarily driven by fewer loan pools closing out
in the quarter. Interest income on noncovered loans for the first quarter was
$14.3 million, down from $15.0 million in the prior quarter but up from $11.8
million in the first quarter of 2012. Yield on noncovered loans of 5.77% was
down 47 basis points in the first quarter. Approximately one-fourth of this
yield compression was due to a cost study update which resulted in the
deferral of more loan origination fee income to future periods.The yield on
investment securities declined largely due to the higher-yielding nonagency
portfolio comprising a smaller percentage of the total portfolio than in
previous periods.Interest expense of $2.0 million in the first quarter was
down from $2.1 million in the fourth quarter of 2012 and down from $2.9
million in the first quarter of 2012.Cost of funds for the first quarter was
38 basis points, a one basis point improvement from the fourth quarter of 2012
and a 14 basis point improvement from the year ago period.Cost of funds has
now decreased for 11 consecutive quarters.

The noncovered loan portfolio continues to perform well, as recoveries were
greater than charge-offs for the second straight quarter.Provision for loan
losses on noncovered loans increased slightly to $350 thousand in the first
quarter from $325 thousand in the prior quarter but decreased from $1.5
million in the first quarter of 2012.Provision for loan losses on covered
loans was a negative $2.4 million in the first quarter due to a valuation
adjustment driven by improved performance of covered assets.This compared to
a provision of $3.0 million in the fourth quarter and a negative $1.3 million
in the first quarter of 2012.

Fee income excluding the amortization of the indemnification asset was $4.2
million for the quarter, up from $3.8 million in the prior quarter partly
driven by higher payroll fee income from our Altera division.Service charges
declined from the prior quarter primarily due to lower consumer NSF
fees.Total noninterest income for the first quarter was a negative $12.6
million compared to a negative $11.5 million in the fourth quarter of 2012 and
a negative $3.8 million in the first quarter of 2012.

Amortization of the indemnification asset negatively impacted noninterest
income by $16.8 million in the first quarter compared to $15.3 million in the
fourth quarter and $7.0 million in the first quarter of 2012.This elevated
level of amortization is due to higher cash flow re-estimations on covered
loans.This change is amplified by having a shorter time period to recognize
the amortization, relative to accretion, as the indemnification asset has to
terminate at the end of loss share while accretion continues over the life of
the loan, which is often much longer than the loss share period.We are
currently projecting $43 million of scheduled future amortization with an
estimated average life of three quarters, versus $205 million of scheduled
future accretion income to be recognized with an estimated average life of
nine quarters.The $205 million of accretable discount remaining is $32
million higher than the fourth quarter of 2012 and $10 million more than the
first quarter of 2012.

Total noninterest expense for the first quarter was $26.7 million, up from
$23.8 million in the fourth quarter of 2012 and $23.2 million in the first
quarter of 2012.Approximately $1.6 million of the $2.3 million linked-quarter
increase in salaries and benefits was related to one-time severance costs as a
result of ongoing efficiency and productivity initiatives.Other drivers of
the higher salaries and benefits expense were seasonal tax and benefit costs,
including higher FICA taxes, as well as a full quarter of Altera employee
costs versus a partial fourth quarter of 2012.Net cost of operations of other
real estate owned of $1.3 million also contributed to the increase in
noninterest expense in the first quarter of 2013.

Financial Condition

Total assets at quarter-end were $2.64 billion, down slightly compared to
$2.66 billion at December 31, 2012 and $2.68 billion at March 31, 2012.Loans
not covered by loss share agreements with the FDIC grew a net $66.0 million in
the first quarter of 2013 to $1.05 billion and have increased a net $248.5
million year-over-year.Noncovered loans now comprise 72.6% of State Bank's
total gross loans.Total net loans were $1.4 billion, up $14.4 million from
the fourth quarter and down $74.6 million from the first quarter of 2012 as
covered loans continue to be resolved.

Total deposits at quarter-end were $2.15 billion, stable with the prior
quarter and down from $2.19 billion in the first quarter of
2012.Noninterest-bearing deposits grew by $22.3 million, or 5.7%, from the
fourth quarter and by $96.8 million, or 30.9%,
year-over-year.Noninterest-bearing deposits now make up 19.1% of total
deposits.

Tangible book value per share was $12.96 at the end of the first quarter, down
$.10 from the fourth quarter of 2012 and up $.34 from the first quarter of
2012.State Bank Financial Corporation continues to be well capitalized,
ending the quarter with a leverage ratio of 15.49% and a Tier I risk-based
capital ratio of 28.13%.

Detailed Results

Supplemental tables displaying financial results for the first quarter of 2013
and the previous four quarters 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 on a conference call today at 10:00 a.m.
EDT.The dial in number is 1.800.756.3565.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.

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 $2.64 billion in assets as of March 31, 2013. 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.

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
1Q13 Financial Supplement: Table 1
Condensed Consolidated Financial Summary Results
Quarterly (Unaudited)
                                                                     1Q13 Change vs.
(Dollars in
thousands, except   1Q13       4Q12       3Q12       2Q12       1Q12       4Q12        1Q12
per share data)
INCOME STATEMENT                                                                 
HIGHLIGHTS
Total interest
income on invested  $2,502     $2,496     $2,862     $3,027     $3,005     $6          $(503)
funds
Interest income on
noncovered loans,   14,319     14,993     14,679     13,722     11,834     (674)       2,485
including fees
Accretion income on 20,636     27,839     18,893     32,191     23,490     (7,203)     (2,854)
covered loans
Total interest      1,996      2,096      2,235      2,566      2,852      (100)       (856)
expense
Net interest income 35,461     43,232     34,199     46,374     35,477     (7,771)     (16)
Provision for loan
losses (noncovered  350        325        1,050      2,125      1,535      25          (1,185)
loans)
Provision for loan
losses (covered     (2,385)    3,021      5,441      2,902      (1,283)    (5,406)     (1,102)
loans)
Noninterest income  (12,603)   (11,491)   (3,254)    (1,243)    (3,778)    (1,112)     (8,825)
Noninterest expense 26,664     23,762     19,835     22,426     23,213     2,902       3,451
(Loss)/Income       (1,771)    4,633      4,619      17,678     8,234      (6,404)     (10,005)
before income taxes
Income tax          (615)      1,418      1,261      6,647      3,096      (2,033)     (3,711)
(benefit)/expense
Net (loss)/income   $(1,156)   $3,215     $3,358     $11,031    $5,138     $(4,371)    $(6,294)
COMMON STOCK DATA                                                                
Basic
(loss)/earnings per $(.04)     $.10       $.11       $.35       $.16       $(.14)      $(.20)
share
Diluted
(loss)/earnings per (.04)      .09        .10        .34        .16        (.13)       (.20)
share
Book value per      13.38      13.48      13.42      13.24      12.88      (.10)       .50
share at period end
Tangible book value
per share at period 12.96      13.06      13.18      12.99      12.62      (.10)       .34
end
Market price at     16.37      15.88      16.49      15.16      17.51      .49         (1.14)
period end
Period end shares   31,918,665 31,908,665 31,896,738 31,721,236 31,721,236 10,000      197,429
outstanding
Weighted average                                                                 
shares outstanding:
Basic               31,908,776 31,904,381 31,654,046 31,613,581 31,611,603 4,395       297,173
Diluted             31,908,776 33,179,198 32,808,726 32,776,553 32,794,798 (1,270,422) (886,022)
AVERAGE BALANCE                                                                  
SHEET HIGHLIGHTS
Noncovered loans,
net of unearned     $1,007,094 $955,153   $901,168   $840,428   $740,905   $51,941     $266,189
income
Covered loans       427,403    504,138    625,701    707,273    788,511    (76,735)    (361,108)
Loans, net of       1,434,497  1,459,291  1,526,869  1,547,701  1,529,416  (24,794)    (94,919)
unearned income
Assets              2,635,240  2,647,687  2,705,134  2,691,432  2,660,418  (12,447)    (25,178)
Deposits            2,115,382  2,114,544  2,182,834  2,190,324  2,203,564  838         (88,182)
Liabilities         2,197,455  2,212,053  2,274,855  2,271,071  2,253,317  (14,598)    (55,862)
Equity             437,785    435,634    430,279    420,321    407,101    2,151       30,684
Tangible common     424,480    427,794    422,180    411,971    398,389    (3,314)     26,091
equity
KEY METRICS                                                                      
Return on average   (.18)%     .48%       .50%       1.65%      .78%       (.66)%      (.96)%
assets
Return on average   (1.07)     2.94       3.14       10.56      5.08       (4.01)      (6.15)
equity
Yield on earning    6.90       8.16       6.74       9.34       7.60       (1.26)      (.70)
assets
Cost of funds       .38        .39        .41        .47        .52        (.01)       (.14)
Rate on
interest-bearing    .47        .48        .49        .55        .60        (.01)       (.13)
liabilities
Net interest margin 6.53       7.77       6.33       8.85       7.03       (1.24)      (.50)
Average equity to   16.61      16.45      15.91      15.62      15.30      .16         1.31
average assets
Leverage ratio      15.49      15.49      15.44      15.24      15.06      --          .43
Tier I risk-based   28.13      29.25      29.95      31.45      32.92      (1.12)      (4.79)
capital ratio
Total risk-based    29.40      30.54      31.23      32.77      34.22      (1.14)      (4.82)
capital ratio
Efficiency ratio    116.42     74.73      63.98      49.63      73.10      41.69       43.32
(1)
Average loans to    67.81      69.01      69.95      70.66      69.41      (1.20)      (1.60)
average deposits
Noninterest-bearing
deposits to total   19.07      18.03      17.31      15.85      14.30      1.04        4.77
deposits
Nonperforming loans
to total noncovered .42        .49        .58        .52        .49        (.07)       (.07)
loans (2)
Nonperforming
assets to loans +                                                                
ORE:
Noncovered          .44        .60        .67        .63        .60        (.16)       (.16)
Covered             10.67      8.67       9.43       8.07       7.87       2.00        2.80
                                                                                
(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
1Q13 Financial                                                                 
Supplement: Table 2
Condensed Consolidated Balance                                                           
Sheet
Quarterly
(Unaudited)
                                                                     1Q13 Change vs.
(Dollars in         1Q13       4Q12       3Q12       2Q12       1Q12     4Q12      1Q12
thousands)
Assets                                                                         
Cash and amounts
due from depository $8,556     $11,902    $7,516     $6,921     $11,287    $(3,346)  $(2,731)
institutions
Interest-bearing
deposits in other   459,494    433,483    345,399    279,060    199,031    26,011    260,463
financial
institutions
Cash and cash       468,050    445,385    352,915    285,981    210,318    22,665    257,732
equivalents
Investment
securities          351,565    303,901    311,323    280,662    322,832    47,664    28,733
available-for-sale
Loans receivable:                                                              
Noncovered under
FDIC loss share     1,051,455  985,502    937,331    881,120    802,955    65,953    248,500
agreements
Covered under FDIC
loss share          396,831    474,713    553,006    687,451    743,838    (77,882)  (347,007)
agreements, net
Allowance for loan
losses (noncovered  (15,122)   (14,660)   (14,330)   (13,317)   (11,681)   (462)     (3,441)
loans)
Allowance for loan
losses (covered     (28,706)   (55,478)   (46,411)   (67,346)   (56,087)   26,772    27,381
loans)
Net loans           1,404,458  1,390,077  1,429,596  1,487,908  1,479,025  14,381    (74,567)
Mortgage loans held 2,386      4,853      2,130      1,907      3,719      (2,467)   (1,333)
for sale
Other real estate                                                              
owned:
Noncovered under
FDIC loss share     276        1,115      892        976        957        (839)     (681)
agreements
Covered under FDIC
loss share          47,401     45,062     57,595     60,334     63,572     2,339     (16,171)
agreements
Premises and        35,379     35,364     38,282     38,298     36,971     15        (1,592)
equipment, net
Goodwill            10,381     10,381     6,562      6,562      6,562      0         3,819
Other intangibles,  2,819      3,188      1,103      1,360      1,636      (369)     1,183
net
FDIC receivable for
loss share          258,848    355,325    354,978    418,826    459,643    (96,477)  (200,795)
agreements, net
Other assets        60,622     68,314     87,605     88,411     92,205     (7,692)   (31,583)
Total assets        $2,642,185 $2,662,965 $2,642,981 $2,671,225 $2,677,440 $(20,780) $(35,255)
Liabilities and
Shareholders'                                                                  
Equity
Noninterest-bearing $409,717   $387,450   $367,762   $343,214   $312,967   $22,267   $96,750
deposits
Interest-bearing    1,738,473  1,760,986  1,756,536  1,821,922  1,875,908  (22,513)  (137,435)
deposits
Total deposits      2,148,190  2,148,436  2,124,298  2,165,136  2,188,875  (246)     (40,685)
Securities sold
under agreements to 3,959      4,755      607        2,845      1,421      (796)     2,538
repurchase
Notes payable       3,861      2,523      2,527      2,531      2,535      1,338     1,326
Other liabilities   59,239     77,035     87,351     80,659     76,106     (17,796)  (16,867)
Total liabilities   2,215,249  2,232,749  2,214,783  2,251,171  2,268,937  (17,500)  (53,688)
Total shareholders' 426,936    430,216    428,198    420,054    408,503    (3,280)   18,433
equity
Total liabilities
and shareholders'   $2,642,185 $2,662,965 $2,642,981 $2,671,225 $2,677,440 $(20,780) $(35,255)
equity
Capital Ratios                                                                 
Average equity to   16.61%     16.45%     15.91%     15.62%     15.30%     .16$      1.31%
average assets
Leverage ratio      15.49      15.49      15.44      15.24      15.06      --        .43
Tier I risk-based   28.13      29.25      29.95      31.45      32.92      (1.12)    (4.79)
capital ratio
Total risk-based    29.40      30.54      31.23      32.77      34.22      (1.14)    (4.82)
capital ratio


State Bank
Financial
Corporation
1Q13 Financial
Supplement: Table                                                              
3
Condensed Consolidated                                                                   
Income Statement
Quarterly
(Unaudited)
                                                                   1Q13 Change vs.
(Dollars in
thousands, except 1Q13       4Q12       3Q12       2Q12       1Q12       4Q12        1Q12
per share data)
Total interest
income on         $2,502     $2,496     $2,862     $3,027     $3,005     $6          $(503)
invested funds
Interest income
on noncovered     14,319     14,993     14,679     13,722     11,834     (674)       2,485
loans, including
fees
Accretion income  20,636     27,839     18,893     32,191     23,490     (7,203)     (2,854)
on covered loans
Total interest    1,996      2,096      2,235      2,566      2,852      (100)       (856)
expense
Net interest      35,461     43,232     34,199     46,374     35,477     (7,771)     (16)
income
Provision for
loan losses       350        325        1,050      2,125      1,535      25          (1,185)
(noncovered
loans)
Provision for
loan losses       (2,385)    3,021      5,441      2,902      (1,283)    (5,406)     (1,102)
(covered loans)
Net interest
income after      37,496     39,886     27,708     41,347     35,225     (2,390)     2,271
provision for
loan losses
Noninterest                                                                    
income:
Accretion
(amortization) of
FDIC receivable   (16,779)   (15,260)   (6,291)    (4,007)    (7,011)    (1,519)     (9,768)
for loss share
agreements
Service charges   1,215      1,408      1,298      1,199      1,212      (193)       3
on deposits
Mortgage banking  306        363        255        311        302        (57)        4
income
Gain (loss) on
sale of           364       225       --       --       93         139         271
investment
securities
Gains on FHLB     --       680       101       434        --       (680)       0
stock redemptions
Gains on          --         --         --         --         --         --          --
acquisitions
Payroll fee       832       622       --       --       --       210         832
income
ATM income        605        619        611        610        585        (14)        20
Other             854        (148)      772        210        1,041      1,002       (187)
Total noninterest (12,603)   (11,491)   (3,254)    (1,243)    (3,778)    (1,112)     (8,825)
income
Noninterest                                                                    
expense:
Salaries and      17,395     15,134     12,811     13,628     12,963     2,261       4,432
employee benefits
Occupancy and     2,456      2,500      2,469      2,419      2,457      (44)        (1)
equipment
Legal and         1,601      1,669      1,265      2,173      1,517      (68)        84
professional fees
Marketing         328        968        573        366        264        (640)       64
Federal insurance
premiums and      469        673        378        355        418        (204)       51
other regulatory
fees
Net cost of
operations of     1,288      (92)       (484)      458        2,078      1,380       (790)
other real estate
owned
Data processing   1,437      1,272      1,196      1,336      1,864      165         (427)
Amortization of   370        251        256        276        246        119         124
intangibles
Other             1,320      1,387      1,371      1,415      1,406      (67)        (86)
Total noninterest 26,664     23,762     19,835     22,426     23,213     2,902       3,451
expense
(Loss)/Income
before income     (1,771)    4,633      4,619      17,678     8,234      (6,404)     (10,005)
taxes
Income tax        (615)      1,418      1,261      6,647      3,096      (2,033)     (3,711)
(benefit)/expense
Net (loss)/income $(1,156)   $3,215     $3,358     $11,031    $5,138     $(4,371)    $(6,294)
Basic
(loss)/earnings   $(.04)     $.10       $.11       $.35       $.16       $(.14)      $(.20)
per share
Diluted
(loss)/earnings   (.04)      .09        .10        .34        .16        (.13)       (.20)
per share
Weighted average
common shares                                                                  
outstanding:
Basic             31,908,776 31,904,381 31,654,046 31,613,581 31,611,603 4,395       297,173
Diluted           31,908,776 33,179,198 32,808,726 32,776,553 32,794,798 (1,270,422) (886,022)


State Bank
Financial
Corporation
1Q13 Financial                                                                 
Supplement: Table 4
Condensed Consolidated Composition of Loans and                                             
Deposits
Quarterly
(Unaudited)
                                                                     1Q13 Change vs.
(Dollars in         1Q13       4Q12       3Q12       2Q12       1Q12       4Q12      1Q12
thousands)
Composition of                                                                 
Loans
Noncovered loans:                                                              
Construction, land  $265,055   $230,448   $249,739   $253,980   $212,165   $34,607   $52,890
& land development
Other commercial    486,287   457,729   411,574   356,476   339,084   28,558    147,203
real estate
Total commercial    751,342   688,177   661,313   610,456   551,249   63,165    200,093
real estate
Commercial &        35,944     35,390     33,817     35,186     38,021     554       (2,077)
industrial
Owner-occupied real 176,426   172,445   163,327   154,533   152,552   3,981     23,874
estate
Total commercial &  212,370   207,835   197,144   189,719   190,573   4,535     21,797
industrial
Residential real    45,433     43,179     41,514     41,449     39,356     2,254     6,077
estate
Consumer & other    42,310     46,311     37,360     39,496     21,777     (4,001)   20,533
Total noncovered    1,051,455  985,502    937,331    881,120    802,955    65,953    248,500
loans
Covered loans:                                                                 
Construction, land  58,802     81,288     98,546     136,200    176,164    (22,486)  (117,362)
& land development
Other commercial    115,194    139,010    165,148    208,975    212,783    (23,816)  (97,589)
real estate
Total commercial    173,996    220,298    263,694    345,175    388,947    (46,302)  (214,951)
real estate
Commercial &        10,811     14,859     21,281     29,298     32,722     (4,048)   (21,911)
industrial
Owner-occupied real 80,239     86,612     100,151    118,848    128,219    (6,373)   (47,980)
estate
Total commercial &  91,050     101,471    121,432    148,146    160,941    (10,421)  (69,891)
industrial
Residential real    131,254    142,032    156,368    180,167    177,790    (10,778)  (46,536)
estate
Consumer & other    531        10,912     11,512     13,963     16,160     (10,381)  (15,629)
Total covered loans 396,831    474,713    553,006    687,451    743,838    (77,882)  (347,007)
Total loans         $1,448,286 $1,460,215 $1,490,337 $1,568,571 $1,546,793 $(11,929) $(98,507)
Composition of                                                                 
Deposits
Noninterest-bearing $409,717   $387,450   $367,762   $343,214   $312,967   $22,267   $96,750
demand deposits
Interest-bearing
transaction         333,336    355,651    324,305    331,550    316,738    (22,315)  16,598
accounts
Savings and money   959,912    949,631    960,714    1,016,619  1,103,151  10,281    (143,239)
market accounts
Time deposits less  194,098    201,658    208,769    222,402    249,047    (7,560)   (54,949)
than $100,000
Time deposits       144,501    147,363    157,414    170,844    196,197    (2,862)   (51,696)
$100,000 or greater
Brokered and
wholesale time      106,626    106,683    105,334    80,507     10,775     (57)      95,851
deposits
Total deposits      $2,148,190 $2,148,436 $2,124,298 $2,165,136 $2,188,875 $(246)    $(40,685)


State Bank
Financial
Corporation
1Q13 Financial
Supplement:                                                    
Table 5
Condensed
Consolidated                                                   
Asset Quality
Data
Quarterly
(Unaudited)
                                                       1Q13 Change vs.
(Dollars in      1Q13     4Q12     3Q12     2Q12     1Q12    4Q12    1Q12
thousands)
Nonperforming
noncovered                                                     
assets:
Nonaccrual loans $3,413   $2,621   $4,117   $4,197   $3,561  $792    $(148)
Troubled debt    970     2,171   1,297   347     335    (1,201) 635
restructurings
Total
nonperforming    4,383    4,792    5,414    4,544    3,896   (409)   487
noncovered loans
Other real       276      1,115    892      976      957     (839)   (681)
estate owned
Total
nonperforming    4,659    5,907    6,306    5,520    4,853   (1,248) (194)
noncovered
assets
Nonperforming                                                  
covered assets:
Other real       $47,401  $45,062  $57,595  $60,334  $63,572 $2,339  $(16,171)
estate owned(1)
Noncovered                                                     
assets:
Year-to-date     $12      $669     $667     $555     $65     $(657)  $(53)
charge-offs
Year-to-date     124      87       80       5        7       37      120
recoveries
Year-to-date net
(recovery)       $(112)   $582     $587     $550     $61     $(694)  $(173)
charge-offs
Ratios:                                                        
Annualized YTD
net charge-offs  (.04)%   .06%     .09%     .13%     .03%    (.10)%  (.07)%
to total average
noncovered loans
Nonperforming
loans to total   .42      .49      .58      .52      .49     (.07)   (.07)
noncovered loans
(2)
Nonperforming
assets to loans                                                
+ ORE:
Noncovered       .44      .60      .67      .63      .60     (.16)   (.16)
Covered          10.67    8.67     9.43     8.07     7.87    2.00    2.80
Allowance for
loan losses to                                                 
loans:
Noncovered       1.44     1.49     1.53     1.51     1.45    (.05)   (.01)
Covered          7.23     11.69    8.39     9.80     7.54    (4.46)  (.31)
                                                              
(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 covered loans to total covered loans is not
presented, as there are no covered loans designated as nonperforming.

                             
State Bank Financial          
Corporation
1Q13 Financial Supplement:                                                
Table 6
Condensed Consolidated Average Balances and Yield                           
Analysis
Quarterly
(Unaudited)
                                                                1Q13 Change vs.
(Dollars in         1Q13      4Q12      3Q12      2Q12      1Q12      4Q12     1Q12
thousands)
Selected Average                                                         
Balances
Interest-bearing
deposits in other   $447,929  $371,873  $333,882  $258,178  $158,949  $76,056  $288,980
financial
institutions
Taxable investment  311,364   298,957   280,432   292,678   333,661   12,407   (22,297)
securities
Nontaxable
investment          10,236    12,173    12,263    12,469    10,199    (1,937)  37
securities, tax
equivalent basis
Noncovered loans    1,007,094 955,153   901,168   840,428   740,905   51,941   266,189
receivable (1)
Covered loans       427,403   504,138   625,701   707,273   788,511   (76,735) (361,108)
receivable
Total earning       2,204,026 2,142,294 2,153,446 2,111,026 2,032,225 61,732   171,801
assets
Total nonearning    431,214   505,393   551,688   580,406   628,193   (74,179) (196,979)
assets
Total assets        2,635,240 2,647,687 2,705,134 2,691,432 2,660,418 (12,447) (25,178)
Interest-bearing
transaction         324,342   315,541   321,328   323,126   310,662   8,801    13,680
accounts
Savings & money     956,517   954,260   997,939   1,052,130 1,115,877 2,257    (159,360)
market deposits
Time deposits less  197,908   205,048   215,048   237,154   262,116   (7,140)  (64,208)
than $100,000
Time deposits       251,955   259,019   264,222   247,466   214,205   (7,064)  37,750
$100,000 or greater
FHLB advances       --        --        --        --        --        --       --
Notes payable       2,536     2,525     2,529     2,533     2,537     11       (1)
Securities sold
under agreements to 3,388     5,352     2,448     2,776     3,564     (1,964)  (176)
repurchase
Total
interest-bearing    1,736,646 1,741,745 1,803,514 1,865,185 1,908,961 (5,099)  (172,315)
liabilities
Noninterest-bearing 384,660   380,676   384,297   330,448   300,704   3,984    83,956
demand deposits
Other liabilities   76,149    89,632    87,044    75,438    43,652    (13,483) 32,497
Shareholders'       437,785   435,634   430,279   420,321   407,101   2,151    30,684
equity
Total liabilities
and shareholders'   2,635,240 2,647,687 2,705,134 2,691,392 2,660,418 (12,447) (25,178)
equity
Interest Margins                                                                  
(2)
Interest-earning
deposits in other   .23%      .27%      .22%      .24%      .26%      (.04)%   (.03)%
financial
institutions
Taxable investment  2.82      3.00      3.65      3.80      3.37      (.18)    (.55)     
securities
Nontaxable
investment
securities, tax     5.11      5.26      5.28      5.41      6.33      (.15)    (1.22)    
equivalent basis
(3)
Noncovered loans    5.77      6.24      6.48      6.57      6.42      (.47)    (.65)     
receivable
Covered loans       19.58     20.74     12.01     18.31     11.98     (1.16)   7.60
receivable
Total earning       6.90%     8.16%     6.74%     9.34%     7.60%     (1.26)%  (.70)%
assets
Interest-bearing
transaction         .12       .11       .12       .12       .13       .01      (.01)     
accounts
Savings & money     .43       .45       .46       .51       .50       (.02)    (.07)     
market deposits
Time deposits less  .59       .62       .67       .86       1.12      (.03)    (.53)     
than $100,000
Time deposits       .82       .83       .85       .95       1.08      (.01)    (.26)     
$100,000 or greater
FHLB advances       --        --        --        --        --        --       --        
Notes payable       12.63     8.67      8.49      8.26      8.72      3.96     3.91      
Securities sold
under agreements to .24       .10       .10       .14       .11       .14      .13
repurchase
Total
interest-bearing    .47       .48       .49       .55       .60       (.01)    (.13)
liabilities
Net interest spread 6.43      7.68      6.25      8.79      7.00      (1.25)   (.57)
Net interest margin 6.53%     7.77%     6.33%     8.85%     7.03%     (1.24)%  (.50)%
                                                                                 
(1) The above amount includes nonaccrual loans of $3,980 for 1Q13, $3,337 for 4Q12,      
$4,114 for 3Q12, $4,053 for 2Q12, and $3,340 for 1Q12.
(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 $45 for 1Q13, $56 for 4Q12, $57 for
3Q12, $59 for 2Q12, and $56 for 1Q12.

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

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