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TheStreet Open House

State Bank Celebrates Its Third Anniversary

Stocks in this article: STBZ

MACON, Ga. and ATLANTA, July 24, 2012 /PRNewswire/ -- Three years ago, a group of veteran bankers from Middle Georgia and Atlanta embarked on a journey to build a leading super-community bank that would inspire customers to believe that banking was alive and well in the state of Georgia.

Today, their vision has come true: State Bank and Trust Company celebrates its third anniversary as one of the healthiest, best capitalized banking organizations in the United States. State Bank Financial Corporation (NASDAQ: STBZ) is the banking holding company for State Bank and Trust.

"Although we're only three years in, we have come a long way together and accomplished far more than anyone could have possibly imagined," said Joe Evans, Chairman and CEO of State Bank. "But this is just the beginning for State Bank, and we have only scratched the surface in reaching our potential for excellence in client responsiveness."

Evans, along with Vice Chairmen Dan Speight, Kim Childers and Steve Doughty, laid the foundation to build a significant Georgia banking franchise by acquiring and assimilating a group of failed banks through transactions with the Federal Deposit Insurance Corporation (FDIC). The management team raised about $300 million from private investors to facilitate 12 acquisitions to date in Metro Atlanta and Middle Georgia.

State Bank has achieved many distinctions over the past three years. In 2011, it 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. In 2010, it was ranked as the Top Performing Bank among the 150 largest U.S. banks by Bank Director magazine. It maintains the #1 market share in Middle Georgia and #11 market share in the Atlanta region.

In that three-year period, State Bank's franchise has grown to serve more than 47,500 households and businesses in Georgia, and has added more than 200 new associates. Those employees embrace State Bank's core values that begin with respect for every member of the team.  

"I am extremely pleased with the infrastructure our organization has built," Evans added. "Thus far, we have accomplished every goal we set. Building upon such a track record, we will continue to harness our energies to become the most client-focused bank anywhere."

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