The parent company of State Bank & Trust said Friday it earned profits of $48.5 million for the year and $16.4 million for the fourth quarter.
Atlanta-based State Bank Financial, the fourth largest banking company based in Georgia, said its earnings per share were $1.49 for the year and 50 cents for the quarter respectively. Earnings reports from 2009 are not directly comparable to 2010 data.
State Bank was reorganized in July 2009 when veteran Georgia banker Joe Evans bought the small institution and led a team in the acquisition of the six bank subsidiaries of Security Bank Corporation. State Bank has added four other failed banks since.
The bank reported total assets of $2.83 billion and total deposits of $2.42 billion as of Dec. 31.
Also Friday, the bank announced the appointment of John Poelker as an executive vice president. Poelker is expected to become chief financial officer pending regulatory approval. He is a former C&S Corp. executive and bank consultant.
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