Frater Joe Evans Heads Nation’s Top Bank

Frater Joe Evans, Chairman and CEO of State Bank

Frater Joe Evans has been in banking for over 30 years and now Bank Director Magazine has named his State Bank Financial Corp. the top performing bank in the United States. State Bank is the fourth largest bank headquartered in Georgia, with assets of more than $2.6 billion as of June 30, 2010 and offices located in Middle Georgia and Metro Atlanta.

After an analysis focused on profitability, capital and asset quality, the magazine listed State Bank first among the 150 largest publicly traded banks and thrifts in the U.S., based on financial performance in 2010.  Bank Director calls State Bank a “phoenix,” noting that it formed in the purchase of an institution seized by the Federal Deposit Insurance Corp. , and has continued to grow from there.

Evans’s banking career has earned him the reputation as one of the nation’s most successful bank executives. Under Evans’s stewardship, State Bank and its investors raised $300 million to acquire assets and deposits of Security Bank Corp. of Macon, Ga., when regulators closed Security on July 24, 2009. American Banker newspaper called the State Bank acquisition “perhaps a model for bank investors around the country.”

Evans earned a bachelor’s degree in industrial management from Georgia Tech in 1971, graduating first in his class. At Georgia Tech, Evans is the former chairman of the board of trustees of the Alumni Association, and on the advisory board of the College of Management, where he has been inducted into the Academy of Distinguished Alumni. He also serves on the board of trustees of the Georgia Tech Foundation and on the board of directors of the Alexander-Tharpe Fund. Evans is a director of Southern Trust Insurance Company and a member of the Investment Committee of the Methodist Children’s Home in Macon.

In May 2011, State Bank reported an $8.2 million profit for the first quarter. State Bank came in well ahead of the other Georgia banks on the list. SunTrust Banks Inc. (NYSE: STI) ranked 125. Moultrie, Ga.-based Ameris Bancorp (NASDAQ: ABCB) and Columbus, Ga.-based Synovus Financial Corp. (NYSE: SNV) placed 133 and 139, respectively.

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