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Overview of SB Financial Group Inc (SBFG)
SB Financial Group Inc operates as a diversified financial services holding company serving as the backbone for its long-standing subsidiary, The State Bank and Trust Company. With a robust history in community banking, the company is dedicated to providing a full spectrum of financial services including commercial banking, trust services, mortgage banking, agricultural and commercial lending, wealth management, and title insurance support. By anchoring its operations in a traditional yet innovative banking framework, SB Financial has cemented its reputation as a reliable partner for both consumers and small businesses in the region.
Business Model and Services
The company excels in offering traditional banking products such as checking, savings, money market accounts, and time deposits, while also extending specialized financial solutions geared toward personal and business financial growth. Its revenue is driven primarily through interest income generated from loans and deposits, complemented by fee-based services including wealth management and title insurance. This diversified model not only emphasizes stability but also ensures that the needs of various market segments, from individual account holders to local enterprises, are met under one roof.
Legacy and Community Focus
Founded over a century ago, The State Bank and Trust Company has persevered through economic challenges by maintaining a steadfast commitment to its community. With a history that includes operating continuously through economic downturns, the institution has played a crucial role in supporting local economies, fostering savings bond initiatives during wartime, and leading community-centered financial drives. This deep historical involvement has forged trust and enduring relationships with its customers across multiple counties.
Strategic Expansion and Mergers
SB Financial Group Inc has reinforced its market position through strategic mergers, most notably with Marblehead Bancorp. This merger not only expanded its geographical reach but also integrated specialized community-based banking expertise into its portfolio. The combined strengths of the merging entities allow SB Financial to offer an enhanced suite of financial products and localized services, further solidifying its commitment to serving the regional communities.
Market Position and Competitive Landscape
Operating primarily in the Midwest with a significant presence in Ohio and select offices in neighboring regions, SB Financial Group Inc distinguishes itself through its comprehensive service offering and deep community roots. The company’s competitive edge lies in its balanced approach to traditional banking practices and innovative service delivery, ensuring that clients receive personalized financial solutions. In a competitive banking environment where stability and trust are paramount, SB Financial’s legacy and integrated service model offer a distinct advantage for those seeking a reliable financial partner.
Operational Strategy and Expertise
SB Financial Group Inc leverages experienced leadership and a passion for service to drive its day-to-day operations. With an emphasis on maintaining a strong asset quality and operational efficiency, the company utilizes rigorous risk management practices and proactive financial strategies to navigate industry challenges. Its operational framework is built around delivering customer-centric banking solutions that are both innovative and dependable, reflecting a deep understanding of local market dynamics and the broader financial landscape.
Conclusion
In summary, SB Financial Group Inc stands as a multifaceted financial institution that combines a rich legacy with a modern, community-focused approach. Its comprehensive range of services, spanning from everyday banking products to specialized financial solutions, positions the company as a central figure in its local markets. By prioritizing customer service, operational excellence, and sustainable banking practices, SB Financial continues to uphold the values that have defined its enduring success over generations.
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.
SB Financial Group, Inc. (NASDAQ: SBFG), a diversified financial services company, will release its second quarter 2022 financial results on July 25, 2022, after market close. A conference call will follow on July 26, 2022, at 11:00 a.m. EDT. This call can be accessed at ir.yourstatebank.com or by dialing 888-338-9469.
SBFG is recognized for its strong performance, being named to the Bank Honor Roll by Keefe, Bruyette & Woods for consistent earnings growth over the last decade.
SB Financial Group, Inc. (NASDAQ: SBFG) has been recognized for the second consecutive year on the 2022 Keefe, Bruyette & Woods 'Bank Honor Roll', highlighting 17 top-performing banks out of 5% screened. This accolade signifies SB Financial's robust performance, consistently increasing earnings per share over the last decade. The company's diversified services include community banking, mortgage banking, and wealth management, serving clients across Ohio and Indiana. The recognition emphasizes SB Financial's commitment to delivering exceptional results for its stakeholders.
SB Financial Group reported a net income of $2.8 million for Q1 2022, a 60.3% decline year-over-year. Diluted EPS fell 58.8% to $0.40. Adjusted net income dropped 57.3% to $2.1 million, with mortgage origination volume decreasing by 37.5% to $97.4 million. Overall operating revenue decreased 30.5% to $14.3 million, primarily due to lower mortgage activity. Deposits rose 1.6% to $1.14 billion, while total assets increased 0.7% to $1.34 billion. The company maintained asset quality, reporting a decline in nonperforming assets by 13.8% to $5.6 million.
SB Financial Group, Inc. (NASDAQ: SBFG), a diversified financial services company based in Defiance, Ohio, will release its first quarter 2022 financial results on April 28, 2022, after market close. A conference call is scheduled for April 29, 2022, at 11:00 a.m. EDT, accessible by dialing 888-338-9469 or via a live webcast. The company offers a variety of financial services through its State Bank and SBFG Title, LLC dba Peak Title subsidiaries. SB Financial was recently recognized in the Bank Honor Roll for consistent EPS increases over the past decade.
SB Financial Group (NASDAQ: SBFG) announced its fourth-quarter earnings for 2021, reporting a net income of $3.3 million and a diluted earnings per share (EPS) of $0.49, down 31% year-over-year. Adjusted net income, excluding a recovery from mortgage servicing, was $2.9 million with EPS of $0.42. Mortgage origination volume decreased by 25% to $126.7 million. However, the full year recorded a historic net income of $18.3 million, an increase of 30.6% compared to 2020, with total loans up by 2.3% and deposits increased by 6.1% to $1.11 billion.
SB Financial Group, Inc. (NASDAQ: SBFG) plans to announce its fourth quarter 2021 financial results on January 27, 2022, after market close. A conference call will take place on January 28 at 11:00 a.m. EDT, accessible via phone at 1-888-338-9469 or through a live webcast. SB Financial, headquartered in Defiance, Ohio, offers a wide range of financial services, including community banking and title insurance, with a presence across Ohio, Indiana, and Michigan. The firm has been recognized for EPS growth, being listed on the Bank Honor Roll by Keefe, Bruyette & Woods.
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