SB Financial Group, Inc. Announces Authorization of Share Repurchase Program of up to 750,000 Common Shares

Rhea-AI Summary

SB Financial Group (NASDAQ: SBFG) announced a share repurchase program authorized by its board of directors, allowing the company to buy back up to 750,000 common shares, approximately 10% of its total shares. This program will run until May 31, 2022, and aims to enhance shareholder value by repurchasing shares through market transactions at management's discretion, depending on market conditions. The repurchased shares will be held as treasury shares for general corporate purposes.

Positive

• Authorization for buyback of up to 750,000 shares, enhancing shareholder value
• Repurchase program indicates management's confidence in the company's financial stability

Negative

• None.

DEFIANCE, Ohio, May 27, 2021 /PRNewswire/ -- SB Financial Group, Inc. (NASDAQ: SBFG) ("SB Financial" or the "Company"), a diversified financial services company providing full-service community banking, mortgage banking, wealth management, private client and title insurance services, today announced that its board of directors has authorized a share repurchase program through May 31, 2022.  Pursuant to the share repurchase program, the Company is authorized to purchase up to an aggregate of 750,000 common shares, equal to approximately 10 percent of the common shares of the Company.  The repurchased shares will be held as treasury shares and will be available for general corporate purposes.

Under the share repurchase program, SB Financial may purchase shares from time to time through various means, including open market transactions and privately negotiated transactions.  SB Financial will repurchase shares at times and at prices considered appropriate by management, although the exact timing of the repurchases and the number of common shares to be purchased will depend on market conditions and other factors. These purchases may be commenced or suspended at any time or periodically without prior notice and the exact number of shares to be repurchased by the Company is not guaranteed.

About SB Financial Group

Headquartered in Defiance, Ohio, SB Financial is a diversified financial services holding company for the State Bank & Trust Company (State Bank) and SBFG Title, LLC dba Peak Title (Peak Title).  State Bank provides a full range of financial services for consumers and small businesses, including wealth management, private client services, mortgage banking and commercial and agricultural lending, operating through a total of 23 offices; 22 in nine Ohio counties and one in Fort Wayne, Indiana, and 24 full-service ATMs. State Bank has five loan production offices located throughout the Tri-State region of Ohio, Indiana and Michigan.  Peak Title provides title insurance and opinions throughout the Tri-State region. SB Financial's common stock is listed on the NASDAQ Capital Market under the symbol "SBFG".

Investor Contact Information:

Mark A. Klein
Chairman, President and
Chief Executive Officer
Mark.Klein@YourStateBank.com

Anthony V. Cosentino
Executive Vice President and
Chief Financial Officer
Tony.Cosentino@YourStateBank.com

View original content:http://www.prnewswire.com/news-releases/sb-financial-group-inc-announces-authorization-of-share-repurchase-program-of-up-to-750-000-common-shares-301300927.html

SOURCE SB Financial Group, Inc.

FAQ

What is the purpose of SBFG's share repurchase program?

The share repurchase program aims to enhance shareholder value by buying back common shares, which may improve earnings per share and support the stock price.

How many shares is SB Financial authorized to repurchase?

SB Financial is authorized to repurchase up to 750,000 common shares, which is about 10% of its total shares.

When does the share repurchase program expire?

The share repurchase program is set to expire on May 31, 2022.

How will SBFG conduct its share repurchases?

SBFG may conduct share repurchases through open market transactions and privately negotiated transactions as deemed appropriate by management.