Company Operations - SB Financial Group, Inc. operates through its subsidiaries, including State Bank, which has 25 banking centers and 7 loan production offices as of December 31, 2024[16]. - At December 31, 2024, State Bank had 244 full-time equivalent employees, while SBFG Title had 8 full-time equivalent employees[16][17]. - The company dissolved four inactive subsidiaries in December 2024, indicating a strategic move to streamline operations[22]. - The Company employed approximately 252 full-time equivalent employees as of December 31, 2024, and management considers its relationship with its employees to be good[97]. - The Company has a low annualized voluntary turnover rate, attributed to its strong values-based culture and commitment to career development[96]. Financial Performance - State Bank had $24.7 million of excess earnings over the preceding three years as of December 31, 2024, which may influence future dividend declarations[37]. - Net income for the year ended December 31, 2024, was $11.47 million, a decrease from $12.10 million in 2023[210]. - The cash dividend declared per common share increased to $0.56 in 2024 from $0.52 in 2023[210]. - The Company paid quarterly dividends of $0.56 per share in 2024, up from $0.52 per share in 2023, indicating a 7.69% increase[192]. - For the twelve months ended December 31, 2024, the Company generated $17.0 million in noninterest income, accounting for 29.9% of total operating revenue, compared to $17.7 million or 31.1% in 2023[201]. Regulatory Compliance - The company is subject to the Bank Holding Company Act and must maintain a minimum common equity tier 1 capital ratio of 4.5% as per Basel III Capital Rules[45]. - The Federal Reserve Board requires all depository institutions to maintain reserves at specified levels, with the reserve requirement ratio at 0% as of December 31, 2024[34]. - The company must obtain prior approval from the Federal Reserve Board for significant acquisitions or mergers, ensuring regulatory compliance[28]. - The Company is subject to the jurisdiction of the SEC and NASDAQ regulations, ensuring compliance with corporate governance and reporting requirements[67][68]. - The Company continues to qualify under the Small Bank Holding Company Policy Statement for exemption from the FRB's consolidated risk-based capital and leverage rules at the holding company level[57]. Market and Competition - The company faces significant competition in attracting depositors and borrowers, primarily from other commercial banks and financial technology companies[23][24]. - Recent bank failures, including Silicon Valley Bank and Signature Bank, have created panic and uncertainty in the investor community, potentially affecting customer confidence and liquidity sources[127]. - The company faces strong competition in attracting deposits and originating loans, which may require adjustments to interest rates that could adversely affect net interest margins[144]. Risk Management - The Company is exposed to operational risks, including cybersecurity risks and potential disruptions in communications and information systems[123]. - Cybersecurity threats remain a significant concern, with potential breaches leading to reputational damage, loss of customer business, and increased regulatory scrutiny[138]. - The reliance on third-party service providers poses risks related to cybersecurity and operational disruptions, which could adversely affect the company's operations[140]. - The Company has not detected significant data loss or material financial losses related to cybersecurity attacks, but acknowledges ongoing threats[89]. - The Company’s risk management program includes regular assessments conducted by third-party experts and internal audits[178]. Economic Conditions - The company’s success depends significantly on local and national economic conditions, particularly in Northwest and Central Ohio, where a significant portion of lending relates to real estate[104]. - The company’s financial condition may be adversely impacted by increased delinquencies and credit losses if real estate markets or the economy deteriorate[115]. - The company may experience significant credit losses if actual credit losses exceed the ACL, which could adversely affect operating results[111]. Capital and Assets - As of December 31, 2024, State Bank was in compliance with all regulatory capital requirements and met the standards for the highest capital category, a "well-capitalized" bank[55][56]. - Total assets increased by $121.7 million, or 9.7%, over the last five years, with loans growing by $174.0 million or 19.9% and deposits by $103.6 million or 9.9%[207]. - The Company reported total deposits of $1,152,605 thousand as of December 31, 2024[182]. - As of December 31, 2024, total nonperforming assets were $5.5 million, or 0.40% of total assets, up from $3.3 million or 0.25% in 2023[206]. Strategic Initiatives - The company completed the acquisition of Marblehead Bancorp, Inc. and its banking subsidiary, The Marblehead Bank, on January 17, 2025[121]. - The Company established a presence in Ottawa County with the acquisition of The Marblehead Bank on January 17, 2025[202][208]. - The Company has expanded its operational footprint by opening three branch offices and acquiring two full-service title agencies in the past five years[208]. Environmental and Social Governance - The company may face increasing scrutiny regarding its environmental, social, and governance practices, which could impact its reputation and operational costs[170]. - Environmental liability risks are associated with lending activities, particularly when foreclosing on properties that may contain hazardous substances, potentially leading to significant remediation costs[147]. Shareholder Information - The Company’s common shares are traded on the NASDAQ Capital Market under the symbol "SBFG," with 6,493,526 shares outstanding as of December 31, 2024[191]. - A limited trading market for the company's common shares may lead to price volatility, affecting shareholders' ability to sell shares at desired prices[160]. - The market price of the company's common shares may fluctuate significantly due to changes in market sentiment and external economic factors[162].

Company Overview - SB Financial Group, Inc. (SBFG) is headquartered in Defiance and has experienced a price change of -2.2% this year [3] - The company currently pays a dividend of $0.14 per share, resulting in a dividend yield of 2.84%, which is higher than the Banks - Northeast industry's yield of 2.58% and the S&P 500's yield of 1.57% [3] Dividend Performance - The current annualized dividend of $0.58 represents a 3.6% increase from the previous year [4] - Over the past five years, SBFG has increased its dividend five times, achieving an average annual increase of 10.39% [4] - The company's current payout ratio is 34%, indicating that it pays out 34% of its trailing 12-month earnings per share as dividends [4] Earnings Growth - Earnings growth for SBFG appears solid, with the Zacks Consensus Estimate for 2025 projected at $2 per share, reflecting a year-over-year growth rate of 16.96% [5] Investment Appeal - SBFG is considered an attractive dividend play and a compelling investment opportunity, currently holding a Zacks Rank of 1 (Strong Buy) [7]

Core Viewpoint - SB Financial Group, Inc. (SBFG) has experienced a decline of 10.8% over the past week, but the formation of a hammer chart pattern suggests potential support and a possible trend reversal in the future [1][2]. Technical Analysis - The hammer chart pattern indicates a minor difference between opening and closing prices, with a long lower wick, suggesting that the stock may have found support after a downtrend [3][4]. - This pattern signals that bears might be losing control, and the success of bulls in preventing further price declines indicates a potential trend reversal [4]. Fundamental Analysis - Recent upward revisions in earnings estimates for SBFG serve as a bullish indicator, correlating strongly with near-term stock price movements [6]. - Over the last 30 days, the consensus EPS estimate for the current year has increased by 12.4%, indicating that analysts expect better earnings than previously predicted [7]. - SBFG holds a Zacks Rank of 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks, which typically outperform the market [8].

Company Overview - SB Financial Group, Inc. (SBFG) is headquartered in Defiance and operates in the Finance sector [3] - The stock has experienced a price change of 12% since the beginning of the year [3] Dividend Information - SBFG currently pays a dividend of $0.14 per share, resulting in a dividend yield of 2.48% [3] - The average annual increase in dividends over the last 5 years is 10.39%, with the current annualized dividend of $0.58 reflecting a 3.6% increase from the previous year [4] - The company's payout ratio is 34%, indicating that it paid out 34% of its trailing 12-month EPS as dividends [4] Earnings Growth Expectations - For the fiscal year 2025, the Zacks Consensus Estimate for SBFG is $2 per share, which represents a year-over-year growth rate of 16.96% [5] Investment Appeal - SBFG is considered a compelling investment opportunity due to its attractive dividend and strong Zacks Rank of 1 (Strong Buy) [7] - The company is positioned well in the context of income investing, as dividends significantly contribute to long-term returns [2][6]

Core Viewpoint - The article emphasizes the importance of identifying and sustaining stock price trends for successful short-term investing, highlighting the need for strong fundamentals and positive earnings revisions to maintain momentum [1][2]. Group 1: Stock Performance - SB Financial Group, Inc. (SBFG) has shown a solid price increase of 13.9% over the past 12 weeks, indicating investor confidence in its potential upside [4]. - The stock has experienced a price increase of 18.4% over the last four weeks, suggesting that the upward trend is still intact [5]. - SBFG is currently trading at 94.9% of its 52-week high-low range, indicating a potential breakout opportunity [5]. Group 2: Fundamental Strength - SBFG holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, which are critical for near-term price movements [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term performance [7]. Group 3: Investment Strategy - The article suggests that investors can utilize the "Recent Price Strength" screen to identify stocks like SBFG that are on an upward trend supported by strong fundamentals [3][8]. - It also mentions the availability of over 45 Zacks Premium Screens tailored to different investing styles, which can help in finding winning stock picks [8].

Financial Performance - Operating revenue for Q4 2024 was $15.5 million, a 2.2% increase from $15.1 million in Q4 2023[5] - Net income for Q4 2024 was $3.6 million, down 6.4% from $3.9 million in Q4 2023, with diluted EPS at $0.55[6] - Noninterest income for Q4 2024 was $4.6 million, a 17.6% decline from $5.5 million in Q4 2023[9] - Net income for December 2024 was $3,635 thousand, representing a 54.3% increase compared to $2,354 thousand in September 2024[36] - Basic earnings per common share rose to $0.55 in December 2024, up from $0.35 in September 2024, an increase of 57.1%[36] - Net income for 2024 was $11,470 million, down from $12,094 million in 2023, showing a decline of 5.2%[44] - Diluted earnings per share decreased to $1.72 in 2024 from $1.75 in 2023, a reduction of 1.7%[44] Revenue and Income Sources - Interest income rose to $16.8 million, an 11.4% increase from $15.1 million in the prior year[6] - Noninterest income totaled $4,557 thousand in December 2024, an increase of 10.6% from $4,123 thousand in September 2024[35] - Net interest income increased to $10,897 thousand in December 2024, up 7.0% from $10,186 thousand in September 2024[35] - Net interest income for Q4 2024 was $10,897,000, an increase of 6.98% from $10,186,000 in Q3 2024[39] - Adjusted total operating revenue for 2024 was $56,897 million, slightly down from $57,045 million in 2023, indicating a decrease of 0.3%[44] Asset and Liability Management - Total assets reached $1.38 billion, driven by a $46.5 million or 4.7% increase in the loan portfolio[18] - Total assets decreased to $1,379,517 thousand in December 2024 from $1,393,949 thousand in September 2024, a decline of 1.0%[33] - Total liabilities decreased to $1,252,009 thousand in December 2024 from $1,261,108 thousand in September 2024, a decline of 0.7%[33] - Total assets increased to $1,361,274 million in 2024 from $1,334,644 million in 2023, representing a growth of 2.0%[43] Deposits and Loans - Total deposits increased by $82.4 million, or 7.7%, to $1.15 billion year-over-year[19] - Total deposits reached $1,152.6 million, with a growth of $82.4 million or 7.7% compared to the previous year[22] - Total deposits slightly decreased to $1,152,605 thousand in December 2024 from $1,159,533 thousand in September 2024, a decrease of 0.3%[33] - Loan balances increased by $46.5 million year-over-year, achieving a total of $1,046.7 million, reflecting a growth rate of 4.7%[22] - Total loans rose to $1,040,580 million, up from $992,337 million, representing an increase of about 4.9%[42] Shareholder Value and Equity - Shareholders' equity ended the year at $127.5 million, reflecting a $3.2 million increase from the prior year[19] - SB Financial repurchased 130,465 shares in Q4 2024, demonstrating commitment to shareholder value through buybacks and dividends[21] - Tangible book value per share increased by $1.02, or 6.8%, to $16.00 from the prior year[6] - Market price per common share was $20.91, reflecting an increase from $20.56 in the previous quarter[39] - The tangible equity ratio was reported at 7.66%, reflecting a strong equity position relative to tangible assets[40] Asset Quality and Risk Management - Nonperforming assets totaled $5.5 million, representing 0.40% of total assets, an increase from 0.25% the previous year[23] - The allowance for credit losses was 1.44% of total loans, providing 273.7% coverage of nonperforming loans, indicating a conservative risk management approach[24] - Nonperforming commercial and agricultural loans increased by 291.3% year-over-year, totaling $2.9 million[26] - The net loan charge-offs to average loans ratio remained low at 7 basis points for the quarter and 2 basis points for the full year[24] - The allowance for credit loss to nonperforming loans ratio stood at 273.68%, reflecting strong coverage for potential loan losses[40] Efficiency and Performance Ratios - The efficiency ratio improved to 71.09% in Q4 2024 from 76.78% in the linked quarter[17] - Return on average assets (ROAA) improved to 1.04% in Q4 2024, compared to 0.68% in Q3 2024[39] - Return on average equity (ROE) increased to 11.13% in Q4 2024, up from 7.32% in Q3 2024[39] - The common equity tier 1 ratio (Bank) was reported at 13.43%, indicating a solid capital position[40] - The net loan charge-offs to average loans ratio was 0.07%, indicating low levels of loan defaults[40] Future Outlook - The company plans to hold its Q4 2024 earnings conference call on January 24, 2025[27]

Financial Data and Key Metrics - 2024 was a year of expansion and resilience for the company, indicating positive financial performance [6] Business Line Data and Key Metrics - No specific data provided in the content regarding individual business lines or their performance metrics Market Data and Key Metrics - No specific data provided in the content regarding market performance or key metrics by region or segment Company Strategy and Industry Competition - The company emphasized 2024 as a year of expansion, suggesting a strategic focus on growth and resilience [6] Management Commentary on Operating Environment and Future Outlook - Management highlighted the resilience and expansion in 2024, indicating a positive outlook for the company's future [6] Other Important Information - The conference call contained forward-looking information, with cautionary statements and reconciliations of non-GAAP financial measures available in the earnings release materials and SEC filings [4] - The call was broadcast live and archived on the company's website, with materials available for reference [3] Q&A Session Summary - No Q&A session details were provided in the content

Group 1: Earnings Performance - SB Financial Group, Inc. reported quarterly earnings of $0.52 per share, exceeding the Zacks Consensus Estimate of $0.41 per share, but down from $0.57 per share a year ago, representing an earnings surprise of 26.83% [1] - The company posted revenues of $15.45 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 6.58%, compared to year-ago revenues of $15.12 million [2] - Over the last four quarters, SB Financial Group has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - SB Financial Group shares have declined approximately 1.9% since the beginning of the year, while the S&P 500 has gained 3.5% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $14.7 million, and for the current fiscal year, it is $1.78 on revenues of $62.4 million [7] Group 3: Industry Context - The Zacks Industry Rank indicates that the Banks - Northeast sector is currently in the top 20% of over 250 Zacks industries, suggesting a favorable environment for stocks in this category [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5][6]

Core Viewpoint - SB Financial Group, Inc. reported its fourth-quarter and full-year 2024 financial results, highlighting growth in key areas despite a slight decline in net income and earnings per share compared to the previous year. The company emphasized its ability to navigate challenges while maintaining operational efficiency and delivering shareholder value [4][6][22]. Financial Performance - For the fourth quarter of 2024, operating revenue increased by 2.2% to $15.5 million compared to $15.1 million in the prior year, while net income decreased by 6.4% to $3.6 million [4][8]. - Interest income for the quarter rose by 11.4% to $16.8 million, driven by strong loan performance, with loans increasing by $46.5 million year-over-year [5][7]. - Noninterest income declined by 17.6% year-over-year to $4.6 million, primarily due to the Visa B share sale recorded in the prior year quarter [9][14]. - The company reported a full-year net income of $11.5 million, down 5.2% from $12.1 million in 2023, with diluted earnings per share of $1.72, a decrease of 1.7% from $1.75 [7][20]. Loan and Deposit Growth - Total loans reached $1.05 billion, marking a year-over-year increase of 4.7% [19][23]. - Total deposits increased by $82.4 million, or 7.7%, to $1.15 billion, reflecting strong customer engagement [20][25]. Mortgage Banking Operations - Mortgage originations surged to $72.5 million, an 83.3% increase year-over-year, with mortgage sales rising to $62.3 million, an 86.7% increase compared to the same period last year [10][11]. - The mortgage servicing portfolio expanded to $1.43 billion, achieving a year-over-year increase of 4.4% [10][11]. Asset Quality - As of December 31, 2024, nonperforming assets totaled $5.5 million, representing 0.40% of total assets, an increase from 0.25% in the prior year [26][30]. - The allowance for credit losses remained robust at 1.44% of total loans, providing 273.7% coverage of nonperforming loans [27][28]. Shareholder Value and Capital Management - The tangible book value per share increased by 6.8% to $16.00, reflecting the company's commitment to delivering shareholder value [5][7]. - During the fourth quarter, the company repurchased 130,465 shares, continuing its active buyback program [21].

Merger Details - SB Financial Group, Inc successfully closed the acquisition of Marblehead Bancorp, Inc, merging Marblehead Bank into State Bank [1] - The merger was unanimously approved by the Boards of Directors of both bank holding companies and their subsidiary banks, and adopted by Marblehead shareholders [1] - Marblehead shareholders received $196.31 in cash per share, valuing the transaction at approximately $5.0 million [2] Strategic Impact - The merger extends SB Financial's presence in Northwest Ohio, enhancing its ability to serve the Marblehead community with expanded financial products and services [3] - The combined organization now manages approximately $1.4 billion in assets, positioning it to deliver exceptional service and innovative financial solutions [3] Company Overview - SB Financial Group, Inc is a diversified financial services holding company headquartered in Defiance, Ohio, operating through 25 offices and 25 ATMs across Ohio, Indiana, and Michigan [5] - State Bank provides a full range of financial services including wealth management, private client services, mortgage banking, and commercial and agricultural lending [5] - Marblehead Bancorp, headquartered in Marblehead, Ohio, operates two full-service bank branch offices and is the only brick-and-mortar bank on the Marblehead Peninsula [6] Legal and Financial Advisors - Vorys, Sater, Seymour and Pease LLP served as legal counsel to SB Financial [4] - Janney Montgomery Scott served as financial advisor to Marblehead and provided a fairness opinion to its Board of Directors [4] - Shumaker, Loop & Kendrick, LLP served as Marblehead's legal counsel [4]