Welcome to our dedicated page for SB Financial Group news (Ticker: SBFG), a resource for investors and traders seeking the latest updates and insights on SB Financial Group stock.
SB Financial Group, Inc. (SBFG) is a renowned holding company that operates through two primary subsidiaries: State Bank and RDSI/DCM. Founded in 1902 as The State Bank and Trust Company of Defiance by Elbert E. Carter, the company has grown into one of northwest Ohio’s leading financial institutions. With a rich history of stability and community leadership, State Bank was one of the few financial institutions to remain open during the Great Depression, playing a crucial role in the Defiance community's economic resilience.
Today, SB Financial Group continues to uphold its legacy of integrity and leadership within the banking sector. The company offers a comprehensive range of financial services tailored to meet the needs of both consumers and small businesses. These services include commercial and agricultural lending, mortgage banking, wealth management, and trust services. The bank accepts various types of deposits, such as checking accounts, savings accounts, money market accounts, demand deposits, and certificates of deposit. Revenue is primarily generated through interest income.
With 17 professional community banking centers and four loan production offices, SB Financial Group prides itself on delivering proactive and innovative financial solutions. Its commitment to service is demonstrated by its employees' passion for supporting their local communities.
In recent achievements, SB Financial Group was ranked #163 by American Banker Magazine in May 2023, based on a three-year average return on equity. This recognition underscores the company's robust financial performance and strategic growth initiatives.
The company’s financial condition remains strong, with recent highlights indicating solid performance across various metrics. For instance, the second quarter of 2023 showcased significant growth compared to the previous year, with notable improvements in consolidated revenue, mortgage loan business, and noninterest income and expenses. SB Financial Group continues to maintain high asset quality and a robust balance sheet, ensuring long-term stability and growth.
For more detailed financial data and updates, SB Financial Group regularly hosts webcasts and conference calls to discuss quarterly and annual results, providing transparency and insights to investors.
For investor inquiries, you can contact:
- Mark A. Klein - Chairman, President, and Chief Executive Officer - 419-783-8920
- Anthony V. Cosentino - Executive Vice President and Chief Financial Officer - 419-785-3663
SB Financial Group (NASDAQ: SBFG) reported earnings for Q1 2023, showing a net income of $2.5 million, a 12.9% decrease from the prior year, with diluted EPS at $0.35. Adjusted for Mortgage Servicing Rights recapture, net income increased by 14.0% year-over-year. Noninterest expenses declined 0.8% to $10.8 million, while loan growth reached $14.2 million (5.9% annualized) and deposit growth was $23.5 million (8.6% annualized). Total operating revenue fell by 2.0% year-over-year to $13.99 million, with a notable 36.8% drop in noninterest income. Mortgage loan originations decreased by 49.3% compared to the previous year, totaling $49.3 million, attributed to a challenging rate environment. Despite these challenges, nonperforming assets stood stable at 0.35% of total assets, down 16% from the prior year.
SB Financial Group, Inc. (NASDAQ: SBFG), a diversified financial services company, will announce its first quarter 2023 financial results on April 20, 2023, following the market close. A conference call to discuss these results is scheduled for April 21, 2023, at 11:00 a.m. EDT, which can be accessed by dialing 888-338-9469 or through a live webcast. Headquartered in Defiance, Ohio, SB Financial offers community banking, mortgage banking, and wealth management services across 23 offices. It was recognized in April 2022 as part of the Keefe, Bruyette & Woods “Bank Honor Roll” for consistent earnings growth.
SB Financial Group (NASDAQ: SBFG) reported its fourth quarter and full-year earnings for 2022, showing a net income of $3.5 million, a 6% increase year-over-year, with a diluted EPS of $0.50. However, annual net income decreased by 31.5% to $12.5 million compared to $18.3 million in 2021, resulting in an EPS decline of 30.9%. Total loans increased by $141.4 million, or 17.2%, while total deposits dropped by 2.4%. Noninterest income plummeted, impacted by lower mortgage activity.
Despite challenges, the company's asset quality remained solid, with nonperforming assets at 38 basis points.
SB Financial Group, Inc. (NASDAQ: SBFG) will release its fourth quarter 2022 financial results on January 26, 2023, after market close. A related conference call will occur on January 27, 2023, at 11:00 a.m. EDT. Interested participants can join by calling 888-338-9469 or via the webcast at ir.yourstatebank.com. SB Financial is recognized as a top performer, included in the Keefe, Bruyette & Woods, Inc. "Bank Honor Roll" for consistent earnings per share growth over the past decade.
SB Financial Group reported Q3 2022 results with a net income of $3.3 million and diluted EPS of $0.47, marking a 19% decrease year-over-year. The company experienced loan growth of $29.6 million (13.2% annualized) and deposit growth of $14.1 million (5.3% annualized). However, total operating revenue dropped 13.2% to $14.5 million, primarily due to decreased mortgage banking revenue. Noninterest income fell 39.2% year-over-year. Despite challenges, asset quality remains strong with nonperforming assets at 40 basis points and net recoveries for the quarter.
SB Financial Group, Inc. (NASDAQ: SBFG), based in Defiance, Ohio, will release its third quarter 2022 financial results on November 1, 2022, after market close. A conference call and webcast will follow on November 2, 2022, at 11:00 a.m. EDT. The company offers a range of financial services through its subsidiary, State Bank, and has received recognition in April 2022 for its consistent earnings per share growth, being named to the Keefe, Bruyette & Woods 'Bank Honor Roll.' Interested parties can access the conference call via a provided phone number or the company's website.
SB Financial Group reported a net income of $2.8 million for Q2 2022, down 24.6% year-over-year, with a diluted EPS of $0.40, reflecting a 23.1% decrease. The company noted significant challenges in mortgage origination, totaling $95.5 million, a decline of 42.1%. For the first half of 2022, net income was $5.6 million, or $0.79 per share, a 47% drop from the previous year. Despite a 9.7% increase in loans, total operating revenue fell by 9.1%, driven by a 28.5% drop in noninterest income.
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