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Financial Performance - Net income for Q1 2025 was $2.2 million, a decrease of 8.9% from $2.4 million in Q1 2024, with diluted earnings per share at $0.33 compared to $0.35[159] - Operating revenue for Q1 2025 was $15.4 million, an increase of $2.3 million or 17.2% from $13.1 million in Q1 2024[161] - Net interest income for Q1 2025 was $11.3 million, up from $9.2 million in Q1 2024, with a net interest margin of 3.40% compared to 2.99%[162] - Total noninterest income for Q1 2025 was $4.1 million, slightly up from $4.0 million in Q1 2024, with SBFG Title contributing $0.4 million[163] - Total noninterest expense for Q1 2025 was $12.4 million, an increase of $2.1 million from $10.3 million in Q1 2024, including over $0.7 million in merger-related expenses[165] - Income taxes for Q1 2025 were $0.43 million, representing an effective tax rate of 16.7%, compared to $0.48 million and 16.9% in Q1 2024[166] Loan and Asset Management - Total loans reached $1.09 billion, an increase of $41.5 million or 4.0% from year-end 2024[167] - Total delinquent loans at the end of Q1 2025 were $5.9 million, representing 0.54% of total loans[160] - The allowance for credit losses was $15.4 million, reflecting a $0.3 million increase from December 2024[169] - Non-performing asset ratio remained stable at 41 basis points with coverage on non-performing loans at 254%[169] - The commercial real estate and mortgage portfolios totaled $890.3 million, which can be used to collateralize borrowings[174] Deposits and Assets - Total assets increased to $1.5 billion, up $121.5 million or 8.8% since December 31, 2024[167] - Total deposits rose to $1.27 billion, up $118.6 million or 10.3% since the end of 2024[167] - Liquid assets totaled $310.7 million, an increase from $235.9 million at December 31, 2024[172] Cash Flow - Net cash provided by operating activities was $6.7 million for the three months ended March 31, 2025, compared to $0.3 million for the same period in 2024[176] - Net cash provided by financing activities was $63.3 million for the three months ended March 31, 2025, compared to a net cash used of $8.4 million in the prior year[178] Credit Losses - Provision for credit losses for Q1 2025 was $387,000, compared to zero in Q1 2024, with net charge-offs of $84,000 versus $57,000 in the prior year[160] - State Bank originated $39.8 million in mortgage loans during Q1 2025, with $39.3 million sold, resulting in $0.9 million of gains[164] Borrowing Capacity - The Company had approximately $145.4 million of additional borrowing capacity as of March 31, 2025[180]

Financial Performance - Net income for Q1 2025 was $2.7 million, with diluted earnings per share of $0.42, a 27% increase compared to the prior year[7]. - Noninterest income increased by 3.9% year-over-year to $4.1 million, driven by gains on mortgage loans and commercial loan swap revenue[12]. - Operating expenses totaled $12.4 million, including $726,000 in merger-related expenses, resulting in a 3.5% increase from the linked quarter[25]. - The company announced a dividend of $0.15 per share, yielding approximately 3.16% and representing 45% of earnings, with expectations to normalize the payout ratio to around 30%[33]. - Tangible book value per share increased by 5.8% year-over-year, but decreased by $0.21 from the previous quarter due to merger impacts[30]. - The company plans to continue increasing its dividend policy over the coming years[60]. - Earnings improvement and AOCI are expected to drive capital levels stable to higher[60]. Loan and Deposit Growth - Loan growth for the quarter was $97 million, representing a 9.8% increase from the prior year, marking the fourth consecutive quarter of sequential loan growth[8]. - Total loans ended the quarter at $1.09 billion, with a net interest margin improvement to 3.4%, up 5 basis points from the linked quarter[26]. - The Marblehead acquisition added $56 million in low-cost deposits and a $19 million loan book, enhancing the company's market position in Ottawa County, Ohio[13]. - Deposits grew over 10%, including $56 million from the Marblehead acquisition, with core deposit growth of just under 5% for an annualized growth rate of 15%[15]. - Loan growth is projected at 8% to 10% for the year, including Marblehead's $20 million contribution[42]. - The company anticipates a core deposit growth of 4% to 5% despite potential seasonal declines in the second quarter[48]. Asset Quality - Charge-offs fell to 3 basis points, with nonperforming assets totaling $6.1 million, representing 41 basis points of total assets[20]. - Total delinquencies decreased to 54 basis points, with a total provision expense of $387,000 for the quarter[31]. - The reserve level is currently at $141 million, with expectations to provision quarterly to keep pace with anticipated loan growth[55]. Strategic Initiatives - The digital banking strategy includes appointing a Digital Banking Officer to enhance cybersecurity and client care initiatives[17]. - The company is optimistic about capital management, focusing on rebuilding post-merger and considering future M&A opportunities[59]. - CET1 capital level remains above 12%, indicating stability and potential for buybacks[60]. Future Outlook - The company anticipates a stronger summer volume in mortgage originations, with a current pipeline of approximately $50 million[9]. - The mortgage pipeline is currently in the low 50s, with expectations to achieve around $380 million in mortgage volume for 2025[45]. - The gain on sale margins have remained stable in the range of $220 million to $225 million[46]. - The next earnings report is scheduled for July, covering the second quarter of 2025[63].

SB Financial Group (SBFG) Q1 2025 Earnings Call May 02, 2025 11:00 AM ET Company Participants Carol Robbins - Senior VP & ControllerMark Klein - Chairman, President & CEOAnthony Cosentino - Executive VP & CFOBrian Martin - Director - Banks & ThriftsSteven Walz - Executive VP & Chief Lending Officer Operator Good morning, and welcome to the SB Financial First Quarter twenty twenty five Conference Call and Webcast. I would like to inform you that this conference call is being recorded. We will begin with rema ...

SB Financial Group (SBFG) Q1 2025 Earnings Call May 02, 2025 11:00 AM ET Company Participants Carol Robbins - Senior VP & ControllerMark Klein - Chairman, President & CEOAnthony Cosentino - Executive VP & CFOBrian Martin - Director - Banks & ThriftsSteven Walz - Executive VP & Chief Lending Officer Operator Good morning, and welcome to the SB Financial First Quarter twenty twenty five Conference Call and Webcast. I would like to inform you that this conference call is being recorded. We will begin with rema ...

Financial Data and Key Metrics Changes - Net income for Q1 2025 was $2.7 million, with diluted earnings per share (EPS) of $0.42, representing a 27% increase compared to the prior year quarter [5] - Tangible book value per share increased to $15.79, up from $14.93 last year, reflecting a 5.8% increase [5] - Net interest income totaled $11.3 million, a 23% increase from $9.2 million in Q1 2024 [5][19] - Operating expenses rose approximately 3.5% from the linked quarter, totaling $12.4 million, which includes $726,000 in acquisition-related costs [7][21] Business Line Data and Key Metrics Changes - Loan growth for the quarter was $97 million, up 9.8% from the prior year, marking the fourth consecutive quarter of sequential loan growth [6][13] - Mortgage originations for the quarter were $40 million, down from the prior year and linked quarters, but the current pipeline is approximately $50 million [6][41] - Noninterest income increased by 3.9% from the prior year quarter to $4.1 million, driven by gains on mortgage loans and commercial loan swap revenue [10] Market Data and Key Metrics Changes - Deposits grew over 10%, including $56 million from the Marblehead acquisition, while excluding Marblehead, growth was 5.4% [6][12] - The core deposit base grew just under 5% this year, with an annualized growth rate of 15% when excluding public funds and the Marblehead book [13] - Total loans ended the quarter at $1.09 billion, including $19 million from the Marblehead acquisition [22] Company Strategy and Development Direction - The company remains focused on five key initiatives: growing and diversifying revenue, expanding footprint, operational excellence, and maintaining asset quality [7] - The Marblehead acquisition, completed on January 17, 2025, is expected to enhance market presence and client relationships in Ottawa County, Ohio [11] - The company is committed to digital innovation and enhancing client care initiatives, including appointing a digital banking officer [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in loan growth despite economic uncertainties, with a budgeted growth of 8% to 10% for the year [39] - The company anticipates a strong performance in the second half of the year, driven by the integration of Marblehead and a robust loan pipeline [28] - Management expects funding costs to decrease further, which will positively impact net interest margin [23][54] Other Important Information - The company repurchased 26,500 shares at an average price of just under $21, representing approximately 130% of tangible book value [25] - The allowance for credit losses remained robust at 1.41% of total loans, providing 254% coverage of nonperforming loans [18] Q&A Session Summary Question: Concerns about loan growth and tariffs - Management expressed confidence in the loan pipeline, indicating no significant concerns regarding tariffs affecting client decisions [36][38] Question: Outlook for loan growth this year - The company maintains a budgeted growth of 8% to 10%, including contributions from the Marblehead acquisition [39] Question: Mortgage pipeline and full-year expectations - The current mortgage pipeline is healthy, and management is optimistic about achieving budgeted production levels for 2025 [41] Question: Trends in deposits and liquidity - Management anticipates some seasonal fluctuations in deposits but expects core deposits to continue growing [45][47] Question: Credit quality and reserve levels - Management is bullish on credit quality and plans to provision for anticipated loan growth while maintaining a strong reserve level [56][59] Question: Capital management and buyback plans - The company plans to resume share buybacks when opportunities arise, while also focusing on integrating the Marblehead acquisition [64]

SB Financial Group, Inc. (SBFG) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5%. A quarter ago, it was expected that this company would post earnings of $0.41 per share when it actually produced earnings of $0.52, delivering a surprise of 26.83%.Over the last four quarters, the com ...

DEFIANCE, Ohio, May 01, 2025 (GLOBE NEWSWIRE) -- 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 reported earnings for the first quarter ended March 31, 2025. First Quarter 2025 Highlights Over the First Quarter Prior Year Include: Adjusted net income of $2.7 million, after accounting for $0.7 million of nonrecurr ...

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a ...

DEFIANCE, Ohio, April 04, 2025 (GLOBE NEWSWIRE) -- SB Financial Group, Inc. (NASDAQ: SBFG), a diversified financial services company providing full-service community banking, mortgage banking, wealth management, private client and title insurance services, expects to release its first quarter 2025 financial results on Thursday, May 1, 2025, after the close of the market. The company will hold a related conference call and webcast on Friday, May 2, 2025, at 11:00 a.m. EDT. Interested parties may access the c ...