SB Financial Group, Inc. reports news centered on its role as a diversified financial services holding company for State Bank & Trust Company and SBFG Title, LLC dba Peak Title. Recurring updates cover community banking, mortgage banking, wealth management, private client services, commercial and agricultural lending, and title insurance services in Ohio, Indiana, the Tri-State region and Kentucky.
Company announcements commonly address quarterly and annual earnings, net interest income, loan and deposit trends, mortgage banking revenue, loan servicing fees, credit performance, dividends, annual meeting materials and board governance changes.
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.
SB Financial Group, Inc. (NASDAQ: SBFG) has successfully completed a private placement of $20 million in fixed-to-floating rate subordinated notes due 2031. The notes will have a fixed interest rate of 3.65% for the first five years, resetting thereafter to the three-month SOFR rate plus 296 basis points. Proceeds will be used for general corporate purposes, enhancing growth potential, supporting acquisitions, and strengthening capital. The issuance qualifies as Tier 2 capital for SB Financial and Tier 1 for its subsidiary, The State Bank and Trust Company.
SB Financial Group (NASDAQ: SBFG) has been recognized as one of the 2021 KBW Bank Honor Roll winners, highlighting its consistent earnings per share growth over the past decade. Only 4% of the nearly 400 banks evaluated qualified for this honor. The company's Chairman, Mark Klein, attributes this achievement to the team's dedication and focus on expanding net income, even amid the challenges posed by the COVID-19 pandemic. This recognition positions SBFG as a leading performer in the banking sector, reflecting optimism for future growth.
SB Financial Group, Inc. (NASDAQ: SBFG) reported a record-breaking net income of $7.1 million for Q1 2021, a dramatic increase of 939.6% from the previous year. Diluted earnings per share rose to $0.97, a 977.8% increase year-on-year. Adjusted net income was $4.9 million, yielding an adjusted EPS of $0.68. Mortgage origination volume reached $155.8 million, up 53.7%. Total assets increased to $1.33 billion, reflecting a 21.8% year-on-year growth. Deposits grew by 29.7% to $1.12 billion.
SB Financial Group, Inc. (NASDAQ: SBFG) will release its first-quarter 2021 financial results on April 30, 2021, after market close. A conference call and webcast for the announcement is scheduled for May 3, 2021, at 11:00 a.m. EDT. Interested parties can join the call by dialing 1-888-338-9469 or via webcast at ir.yourstatebank.com. The company operates 22 offices and provides various financial services including banking, mortgage banking, and wealth management.
SB Financial Group (NASDAQ: SBFG) reported significant fourth-quarter and annual earnings for 2020. Net income reached $5.4 million, a 59.6% increase, resulting in diluted EPS of $0.71, up 69.0%. Adjusted net income rose to $5.8 million, lifting adjusted EPS to $0.77. Mortgage origination volumes increased by 22.9% to $169 million. For the year, net income was $14.9 million, and diluted EPS was $1.96, representing a 30% increase from 2019. Notably, total assets grew to $1.26 billion, a 21.1% increase driven by acquisitions and PPP activity.
SB Financial Group (NASDAQ: SBFG), a community banking entity, will unveil its fourth-quarter and full-year 2020 financial results on January 28, 2021, post-market. A conference call is scheduled for January 29, 2021, at 11:00 a.m. EST. Stakeholders can join via phone or access a live webcast on their website. Headquartered in Defiance, Ohio, the firm operates 22 offices and provides a range of financial services, including wealth management and mortgage banking. It was ranked #125 among community banks by the American Banker Magazine in May 2020.
SB Financial Group (NASDAQ: SBFG) reported a significant 39.6% increase in net income for Q3 2020, reaching $5.3 million, with diluted EPS rising 43.8% to $0.69. Adjusted net income stands at $5.0 million after accounting for $0.3 million in OMSR impacts. Mortgage origination volume surged 26.7% to $200.2 million. For the nine months ended September 30, net income was $9.6 million, with diluted EPS at $1.25. Total assets grew 16.8% to $1.22 billion, and total deposits increased 19.6% to $1.01 billion, driven by PPP loans and the Edon acquisition.
SB Financial Group, Inc. (NASDAQ: SBFG) is set to announce its third-quarter 2020 financial results on October 29, 2020, after market close. A conference call and webcast will follow on October 30 at 11:00 a.m. EDT. Interested participants can join the call at 1-888-338-9469 or via the company website. As a diversified financial services holding company, SB Financial offers community banking, mortgage banking, and wealth management through its various offices in Ohio, Indiana, and Michigan.
SB Financial Group reported strong earnings for Q2 2020, achieving net income of $3.7 million and diluted EPS of $0.47, a 39.1% increase from last year. Adjusted net income increased 73.2% to $5.5 million, with adjusted EPS rising 78% to $0.71. Mortgage origination volume surged 127.2% year-over-year to $223.7 million, reflecting increased demand. However, the company faced a $1.1 million OMSR impairment and merger costs of $1.2 million. Nonperforming assets rose to $7.7 million, an 18.7% increase from the previous quarter.