SB FINANCIAL GROUP, INC.

Listed Company

SBFGCIK 0000767405NasdaqNon-AcceleratedSmaller ReportingState Commercial BanksOhioFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$13.97M

Total Assets

$1.55B

Equity

$141.24M

Shares Out

6.30M

Op. Cash Flow

$24.04M

Business

SB FINANCIAL GROUP, INC. is a financial holding company that provides commercial banking and wealth management services through its consolidated subsidiaries. It offers deposit accounts, payment and ATM services, commercial, consumer, agricultural and mortgage lending, trust and asset management, brokerage services, title insurance and insurance products, and self-insurance through a captive. Key operating entities include The State Bank and Trust Company, SBFG Title (Peak Title Agency), SBT Insurance, SB Captive and Rurban Statutory Trust II. The company serves local markets in Ohio, with additional banking and loan production offices in Indiana and Michigan, delivering services via branch networks, ATMs, internet banking and third-party brokerage relationships.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Taxable	65	57	51	38	38
Tax exempt	455,000	496,000	483,000	335,000	206,000
Taxable	4	5	5	5	3
Tax exempt	144,000	146,000	170,000	198,000	353,000
Other interest income	4	2	847,000	624,000	—
Total interest income	74	64	58	45	—
Deposits	22	21	15	3	3
Repurchase agreements & other	95,000	154,000	74,000	39,000	42,000
Federal Home Loan Bank advance expense	1	2	3	515,000	188,000
Trust preferred securities expense	637,000	739,000	716,000	361,000	199,000
Subordinated debt expense	778,000	778,000	778,000	778,000	—
Total interest expense	25	24	19	—	—
Net Interest Income	48	40	39	39	—
Provision (benefit) for credit losses - loans	1	−440,000	688,000	—	1
Provision for unfunded commitments	32,000	564,000	−373,000	—	—
Total provision for credit losses	1	124,000	315,000	—	—
Net interest income after provision for credit losses	47	40	39	39	37
Wealth management fees	4	4	4	4	4
Customer service fees	4	3	3	3	3
Gain on sale of mortgage loans & OMSR	5	5	4	4	17
Mortgage loan servicing fees, net	2	2	2	3	3
Gain on sale of non-mortgage loans	143,000	145,000	429,000	566,000	158,000
Title insurance income	2	2	2	2	—
Other income	1	2	2	1	1
Total noninterest income	17	17	18	18	31
Salaries and employee benefits	25	24	23	24	27
Net occupancy expense	3	3	3	3	3
Equipment expense	5	4	4	4	3
Data processing fees	4	3	3	3	3
Professional fees	4	3	3	3	3
Marketing expense	651,000	821,000	782,000	911,000	784,000
Telephone and communications	511,000	525,000	501,000	474,000	581,000
Postage and delivery expense	541,000	447,000	432,000	422,000	414,000
State, local and other taxes	1	907,000	949,000	1	1
Employee expense	763,000	733,000	631,000	613,000	—
Other expense	3	3	3	2	2
Total noninterest expense	47	43	42	42	45
Income before income tax	17	14	15	15	23
Provision for income taxes	3	2	3	3	4
Net Income	14	11	12	13	—
Basic earnings per common share (in Dollars per share)	2.19	1.72	1.77	1.79	2.58
Diluted earnings per common share (in Dollars per share)	2.19	1.72	1.75	1.77	2.56

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	72	26	23	28	150
Interest bearing time deposits	1	2	2	2	—
Available-for-sale securities	189	202	220	239	263
Loans held for sale	2	7	3	2	—
Loans, net of unearned income	1,181	1,047	1,000	962	—
Allowance for credit losses	−16	−15	−16	−14	—
Premises and equipment, net	22	20	21	23	23
Federal Reserve and Federal Home Loan Bank Stock, at cost	6	5	7	6	5
Foreclosed assets and other assets held for sale, net	104,000	—	511,000	777,000	2
Interest receivable	5	5	5	4	3
Goodwill	27	23	23	23	23
Cash value of life insurance	32	31	29	29	18
Mortgage servicing rights	15	15	14	14	12
Other assets	10	13	12	17	12
Total assets	1,545	1,380	1,343	1,336	1,331
Non interest bearing demand	254	232	229	257	247
Interest bearing demand	203	201	166	192	195
Savings	296	238	217	191	238
Money market	281	222	203	256	276
Time deposits	273	259	256	191	157
Total deposits	1,307	1,153	1,070	1,087	1,113
Repurchase agreements	9	11	13	15	15
Federal Home Loan Bank advances	35	35	84	60	6
Trust preferred securities	10	10	10	10	10
Subordinated debt net of issuance costs	20	20	20	20	20
Interest payable	2	2	2	769,000	299,000
Other liabilities	20	21	19	25	22
Total liabilities	1,404	1,252	1,219	1,217	1,186
Commitments & Contingent Liabilities	—	—	—	—	—
Preferred stock, no par value; authorized 200,000 shares; 2025 - 0 shares outstanding, 2024 - 0 shares outstanding	—	—	—	—	—
Common stock, no par value; 2025 - 10,500,000 shares authorized, 8,525,375 shares issued; 2024 - 10,500,000 shares authorized, 8,525,375 shares issued	61	61	61	61	54
Additional paid-in capital	15	15	15	15	—
Retained earnings	126	116	108	102	100
Accumulated other comprehensive loss	−21	−30	−30	−32	−2
Treasury stock, at cost; ( 2025 - 2,249,417 common shares; 2024 - 1,977,538 common shares)	−40	−35	−31	−28	−22
Total shareholders equity	141	128	124	118	145
Total liabilities and shareholders equity	1,545	1,380	1,343	1,336	1,331

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	2	2	2	2	2
Provision for credit losses	1	124,000	315,000	—	—
Expense of share-based compensation plan	536,000	637,000	576,000	568,000	443,000
Amortization of premiums and discounts on securities	432,000	493,000	522,000	897,000	1
Amortization of intangible assets	240,000	70,000	90,000	70,000	71,000
Amortization of originated mortgage servicing rights	2	1	1	2	4
Impairment (recovery) of mortgage servicing rights	289,000	−41,000	50,000	−1	−3
Deferred income taxes	−111,000	2	2	3	2
Proceeds from sale of loans held for sale	252	216	161	190	491
Originations of loans held for sale	−244	−218	−159	−181	−478
Gain from sale of loans	−5	−5	−4	−5	−17
Interest receivable	−582,000	−251,000	−566,000	−1	879,000
Other assets	5	−3	4	−2	2
Interest payable & other liabilities	−4	607,000	−5	6	−7
Net cash provided by operating activities	24	9	14	26	17
Purchases of available-for-sale securities	−100,000	−2	−723,000	−51	−171
Proceeds from maturities of interest bearing time deposits	1	1	2	512,000	—
Purchase of interest bearing time deposits	−950,000	−1	—	—	—
Proceeds from maturities of available-for-sale securities	24	19	—	36	50
Proceeds from sales of available-for-sale securities	30	—	—	—	—
Net change in loans	−116	−47	−39	−140	49
Purchase of premises, equipment	−3	−1	−958,000	−2	−2
Purchase of bank owned life insurance	−800,000	−800,000	—	−11	—
Purchase of Federal Reserve and Federal Home Loan Bank Stock	−560,000	—	−953,000	−1	—
Proceeds from sale of Federal Reserve and Federal Home Loan Bank Stock	290,000	2	—	—	—
Proceeds from sale of foreclosed assets	91,000	711,000	816,000	2	129,000
Acquisition, net of cash acquired (paid)	−3	—	—	—	−1
Net cash used in investing activities	−68	−29	−17	−166	−72
Net increase in demand deposits, money market, interest checking & savings accounts	87	86	−81	−61	—
Net increase (decrease) in time deposits	14	−4	65	34	−73
Net decrease in securities sold under agreements to repurchase	−1	−3	−2	—	—
Proceeds from Federal Home Loan Bank advances	—	133	811	232	—
Repayment of Federal Home Loan Bank advances	−1	−182	−787	−178	—
Stock repurchase plan	−6	−5	−3	−6	−10
Dividends on common shares	−4	−4	−4	−3	−3
Net cash provided by financing activities	90	22	−1	18	64
Increase in cash and cash equivalents	46	3	−5	−122	9
Interest paid	26	25	17	5	4
Income taxes paid	2	417,000	—	5	4
Recognition of right-of-use lease assets	75,000	—	—	—	—
Transfer of loans to foreclosed assets	195,000	—	507,000	322,000	2

Filings

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