State Bank Financial (STBZ) to Acquire Community Capital Bank Assets

Georgia Department of Banking and Finance closed Community Capital Bank, headquartered in Jonesboro, Georgia and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. In a transaction facilitated by the FDIC, State Bank & Trust Company, a wholly owned subsidiary of State Bank Financial Corporation (Nasdaq: STBZ), has agreed to acquire substantially all of the assets and deposits of Community Capital Bank.

State Bank & Trust Company entered into a purchase and assumption agreement with a loss share arrangement with the FDIC, which includes all deposits as well as certain loans and other assets. The acquisition became effective at the close of business today.

Beginning October 22, 2011, Community Capital Bank's main office at 2236 Mt. Zion Road in Jonesboro and its branch at 655 North Jeff Davis Drive in Fayetteville will reopen as branches of State Bank & Trust Company.

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