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State Bank Financial Corp. in Atlanta reported that its third-quarter earnings nearly doubled from a quarter earlier, to $17.1 million, due largely to higher accretion on loans covered by loss-share agreements with the Federal Deposit Insurance Corp.

The $2.7 billion-asset company said Monday that the accretion of discount on acquired loans totaled roughly $37 million, up 47% from the second quarter. Accretion of the discount on acquired loans will likely contribute to volatility in net interest income in future periods based on periodic reviews of expected cash flows on these loans, the company said in a press release.

Other real estate owned, most of which is covered under loss-share agreements, fell 7.6% from a quarter earlier, to $95.7 million. Noncovered loan rose 19% from the second quarter, to $650 million.

Noninterest expense fell almost 5% from the second quarter, to $19.8 million.

In recent years, the company has acquired the assets and deposits of a dozen failed banks in the Atlanta area and middle Georgia.