The parent company of Four Oaks Bank & Trust Co. reported a 51 percent increase in second quarter earnings due to lower expenses, according to a filing Thursday with the Securities and Exchange Commission.

Four Oaks Fincorp Inc. reported net income of $1.3 million, or 20 cents per share, for the second quarter, up from net income of $872,000, or 13 cents per share, in the same quarter in 2016.

Salary and benefit expenses declined by $201,000 in the quarter.

In June, the 105-year-old bank agreed to be acquired by United Community Banks Inc. of Blairsville, Georgia, for $124 million.

“We are extremely excited to join a team that will allow us to deliver better products and services to our customers while keeping our branches and market teams in place,” said Chief Executive Officer David Rupp in a statement. “We expect the same bankers you have trusted for years will continue to be at their branches, prepared to help you as they always have.”

Demand, savings, and money market deposits increased $20.2 million by the end of the quarter.

Nonperforming assets totaled $5.4 million or 0.73 percent of total assets at June 30, compared to $6.0 million or 0.84 percent of total assets at Dec. 31.

Four Oaks has 14 offices in Four Oaks, Clayton, Smithfield, Garner, Benson, Fuquay-Varina, Wallace, Holly Springs, Zebulon, Dunn, Raleigh and Apex. It has $739 million in assets.

Its stock closed at $18.81, down 59 cents, in Thursday trading.