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                                        UNITED STATES
                                   SECURITIES AND EXCHANGE COMMISSION
                                     Washington, D.C. 20549
 
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SCHEDULE 13G
 
Under the Securities Exchange Act of 1934
 
(Amendment No. 2)*
 

STATE BANK FINANCIAL CORPORATION
(Name of Issuer)

Common Stock, $0.01 par value per share
(Title of Class of Securities)

 
856190103
  
(CUSIP Number)

December 31, 2012
(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
 [  ]           Rule 13d-1(b)
 
 [x]           Rule 13d-1(c)
 
 [  ]           Rule 13d-1(d)
 
*           The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.  Beneficial ownership information contained herein is given as of the date listed above.
 
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 

 
 
 

1
Names of Reporting Persons.
Greenlight Capital, L.L.C.
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)           [ ]
 
(b)           [ ]
3
SEC Use Only
4
Citizenship or Place of Organization.
Delaware
Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5    Sole Voting Power
0 shares
6    Shared Voting Power
558,017 shares**
7    Sole Dispositive Power
0 shares
8    Shared Dispositive Power
558,017 shares**
9
Aggregate Amount Beneficially Owned by Each Reporting Person
558,017 shares**
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)     [ ]
11
Percent of Class Represented by Amount in Row (9)
1.7%**
12
Type of Reporting Person (See Instructions)
OO

**SEE ITEM 4(b).
 

 
 
 


1
Names of Reporting Persons.
Greenlight Capital, Inc.
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)           [ ]
 
(b)           [ ]
3
SEC Use Only
4
Citizenship or Place of Organization.
Delaware
Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5    Sole Voting Power
0 shares
6    Shared Voting Power
1,343,111 shares**
7    Sole Dispositive Power
0 shares
8    Shared Dispositive Power
1,343,111 shares**
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,343,111 shares**
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)     [ ]
11
Percent of Class Represented by Amount in Row (9)
4.2%**
12
Type of Reporting Person (See Instructions)
CO

 
**SEE ITEM 4(b).
 

 
 
 

 
1
Names of Reporting Persons.
DME Management GP, LLC
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)           [ ]
 
(b)           [ ]
3
SEC Use Only
4
Citizenship or Place of Organization.
Delaware
Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5    Sole Voting Power
0 shares
6    Shared Voting Power
237,875 shares**
7    Sole Dispositive Power
0 shares
8    Shared Dispositive Power
237,875 shares**
9
Aggregate Amount Beneficially Owned by Each Reporting Person
237,875 shares**
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)     [ ]
11
Percent of Class Represented by Amount in Row (9)
0.7%**
12
Type of Reporting Person (See Instructions)
OO

 
**SEE ITEM 4(b).
 

 
 
 
 
1
Names of Reporting Persons.
DME Advisors, LP
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)           [ ]
 
(b)           [ ]
3
SEC Use Only
4
Citizenship or Place of Organization.
Delaware
Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5    Sole Voting Power
0 shares
6    Shared Voting Power
284,000 shares**
7    Sole Dispositive Power
0 shares
8    Shared Dispositive Power
284,000 shares**
9
Aggregate Amount Beneficially Owned by Each Reporting Person
284,000 shares**
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)     [ ]
11
Percent of Class Represented by Amount in Row (9)
0.9%**
12
Type of Reporting Person (See Instructions)
PN

 
**SEE ITEM 4(b).
 

 
 
 
 
 
1
Names of Reporting Persons.
DME Capital Management, LP
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)           [ ]
 
(b)           [ ]
3
SEC Use Only
4
Citizenship or Place of Organization.
Delaware
Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5    Sole Voting Power
0 shares
6    Shared Voting Power
472,889 shares**
7    Sole Dispositive Power
0 shares
8    Shared Dispositive Power
472,889 shares**
9
Aggregate Amount Beneficially Owned by Each Reporting Person
472,889 shares**
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)     [ ]
11
Percent of Class Represented by Amount in Row (9)
1.5%**
12
Type of Reporting Person (See Instructions)
PN

 
**SEE ITEM 4(b).
 

 
 
 
 
 
1
Names of Reporting Persons.
DME Advisors GP, LLC
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)           [ ]
 
(b)           [ ]
3
SEC Use Only
4
Citizenship or Place of Organization.
Delaware
Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5    Sole Voting Power
0 shares
6    Shared Voting Power
756,889 shares**
7    Sole Dispositive Power
0 shares
8    Shared Dispositive Power
756,889 shares**
9
Aggregate Amount Beneficially Owned by Each Reporting Person
756,889 shares**
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)     [ ]
11
Percent of Class Represented by Amount in Row (9)
2.4%**
12
Type of Reporting Person (See Instructions)
OO

 
**SEE ITEM 4(b).
 

 
 
 
 
 
1
Names of Reporting Persons.
David Einhorn
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a)           [ ]
 
(b)           [ ]
3
SEC Use Only
4
Citizenship or Place of Organization.
U.S. Citizen
Number
of Shares
Beneficially
Owned by
Each
Reporting
Person With
5    Sole Voting Power
0 shares
6    Shared Voting Power
2,100,000 shares**
7    Sole Dispositive Power
0 shares
8    Shared Dispositive Power
2,100,000 shares**
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,100,000 shares**
10
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)     [ ]
11
Percent of Class Represented by Amount in Row (9)
6.6%**
12
Type of Reporting Person (See Instructions)
IN

 
**SEE ITEM 4(b).
 

 
 
 

AMENDMENT NO. 2 TO SCHEDULE 13G
 
This Amendment No. 2 (the “Amendment”) to Schedule 13G relating to shares of common stock, par value $0.01 (“Common Stock”) of State Bank Financial Corporation, a Georgia corporation (the “Issuer”) is being filed with the Securities and Exchange Commission (the “SEC”) as an amendment to the Schedule 13G filed with the SEC on February 2, 2011, as amended by Amendment No. 1 filed with the SEC on February 14, 2012.  This Amendment is being filed on behalf of Greenlight Capital, L.L.C., a Delaware limited liability company (“Greenlight LLC”), Greenlight Capital, Inc., a Delaware corporation (“Greenlight Inc.”), DME Management GP, LLC, a Delaware limited liability company (“DME Management GP”), DME Advisors, LP, a Delaware limited partnership (“DME Advisors”), DME Capital Management, LP, a Delaware limited partnership (“DME CM”), DME Advisors GP, LLC, a Delaware limited liability company (“DME GP” and together with Greenlight LLC, Greenlight Inc., DME Management GP, DME Advisors and DME CM, “Greenlight”), and Mr. David Einhorn, the principal of Greenlight (collectively with Greenlight, the “Reporting Persons”).
 
This Amendment relates to Common Stock of the Issuer purchased by Greenlight for the account of (i) Greenlight Capital, L.P. (“Greenlight Fund”) of which Greenlight LLC is the general partner and for which Greenlight Inc. acts as investment manager, (ii) Greenlight Capital Qualified, L.P. (“Greenlight Qualified”) of which Greenlight LLC is the general partner and for which Greenlight Inc. acts as investment manager, (iii) Greenlight Capital Offshore Partners (“Greenlight Offshore”) for which Greenlight Inc. acts as investment manager, (iv) a managed account for which DME Advisors acts as investment manager (the “Managed Account”), (v) Greenlight Capital (Gold), LP (“Greenlight Gold”) of which DME Management GP is the general partner and for which DME CM acts as investment manager, and (vi) Greenlight Capital Offshore Master (Gold), Ltd. (“Greenlight Gold Offshore”) for which DME CM acts as investment manager.  DME GP is the general partner of DME Advisors and of DME CM.
 
This Amendment is being filed to amend and restate Item 4 as follows:

 
Item 4
Ownership:

Item 4(a)
Amount Beneficially Owned:

 
i)
Greenlight LLC may be deemed the beneficial owner of an aggregate of 558,017 shares of Common Stock held for the accounts of Greenlight Fund and Greenlight Qualified.
     
 
ii)
Greenlight Inc. may be deemed the beneficial owner of an aggregate of 1,343,111 shares of Common Stock held for the accounts of Greenlight Fund, Greenlight Qualified and Greenlight Offshore.
     
 
iii)
DME Management GP may be deemed the beneficial owner of 237,875 shares of Common Stock held for the account of Greenlight Gold.
     
 
iv)
DME Advisors may be deemed the beneficial owner of 284,000 shares of Common Stock held for the account of the Managed Account.
     
 
v)
DME CM may be deemed the beneficial owner of 472,889 shares of Common Stock held for the accounts of Greenlight Gold and Greenlight Gold Offshore.
     
 
vi)
DME GP may be deemed the beneficial owner of 756,889 shares of Common Stock held for the accounts of Greenlight Gold, Greenlight Gold Offshore and the Managed Account.
     
 
vii)
Mr. Einhorn may be deemed the beneficial owner of 2,100,000 shares of Common Stock. This number consists of: (A) an aggregate of 558,017 shares of Common Stock held for the accounts of Greenlight Fund and Greenlight Qualified, (B) 785,094 shares of Common Stock held for the account of Greenlight Offshore, (C) 237,875 shares of Common Stock held for the account of Greenlight Gold, (D) 235,014 shares of Common Stock held for the account of Greenlight Gold Offshore, and (E) 284,000 shares of Common Stock held for the Managed Account.

The filing of this Schedule 13G shall not be construed as an admission that any of the Reporting Persons is for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, the beneficial owner of any of the shares of Common Stock owned by Greenlight Fund, Greenlight Qualified, Greenlight Offshore, Greenlight Gold, Greenlight Gold Offshore or the Managed Account.  Pursuant to Rule 13d-4, each of the Reporting Persons disclaims all such beneficial ownership except to the extent of its pecuniary interest in any shares of Common Stock, if applicable.

Item 4(b)
Percent of Class:

The information set forth in Rows 5 through 11 of the cover page for each Reporting Person is hereby incorporated by reference into this Item 4(b) for each such Reporting Person. The percentages reported herein have been determined by dividing the number of shares of Common Stock beneficially owned by each of the Reporting Persons by 31,908,071, the number of shares of Common Stock outstanding as of November 9, 2012, as reported in Form 10-Q filed by the Issuer on November 9, 2012 with the SEC.

Item 4(c)
Number of shares as to which each such person has voting and dispositive power:

The information set forth in Rows 5 through 11 of the cover page for each Reporting Person is hereby incorporated by reference into this Item 4(c) for each such Reporting Person.

 
 
 
 

SIGNATURE
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
Date:              February 14, 2013
 
GREENLIGHT CAPITAL, L.L.C.
   
 
By: /s/ DANIEL ROITMAN
 
Daniel Roitman
Chief Operating Officer
   
   
 
GREENLIGHT CAPITAL, INC.
   
 
By: /s/ DANIEL ROITMAN
 
Daniel Roitman
Chief Operating Officer
   
   
 
DME MANAGEMENT GP, LLC
   
 
By: /s/ DANIEL ROITMAN
 
Daniel Roitman
Chief Operating Officer
   
   
 
DME ADVISORS, LP
   
 
By: DME Advisors GP, LLC,
 
its General Partner
   
 
By: /s/ DANIEL ROITMAN
 
Daniel Roitman
Chief Operating Officer
   
   
 
DME CAPITAL MANAGEMENT, LP
   
 
By: DME Advisors GP, LLC,
 
its General Partner
   
 
By: /s/ DANIEL ROITMAN
 
Daniel Roitman
Chief Operating Officer
   
   
 
DME ADVISORS GP, LLC
   
 
By: /s/ DANIEL ROITMAN
 
Daniel Roitman
Chief Operating Officer
   
   
 
/s/ DANIEL ROITMAN**
 
Daniel Roitman, on behalf of David Einhorn

* The Joint Filing Agreement, executed by and among the Reporting Persons, filed with the Schedule 13G filed with the Securities and Exchange Commission on February 2, 2011 by the Reporting Persons with respect to the Issuer, is hereby incorporated by reference.
 
** The Power of Attorney executed by David Einhorn, authorizing the signatory to sign and file this Schedule 13G on David Einhorn’s behalf, filed as Exhibit 99.2 to the Schedule 13G filed with the Securities and Exchange Commission on May 24, 2010 by the Reporting Persons with respect to the common stock of NCR Corporation, is hereby incorporated by reference.