SB Financial Group Reports Fourth Quarter 2024 Financial Results

SB Financial Group, Inc. (NASDAQ: SBFG) recently released its financial results for the fourth quarter ending December 31, 2024. The company hosted a conference call and webcast discussing its achievements and performance during the quarter.

During the quarter, SB Financial Group reported a net income of $3.6 million, with diluted earnings per share (EPS) of $0.55, slightly down compared to the prior year, but showing growth when adjusting for certain items. The tangible book value per share stood at $16, reflecting a 7% increase from the previous figure. Net interest income saw a 13.7% increase to $10.9 million, with a notable improvement in margin revenue.

Loan growth for the quarter reached $46.5 million, marking the third consecutive quarter of sequential growth. Furthermore, deposits showed stability and an increase of over $82 million year-over-year, demonstrating the company’s ability to attract and retain clients in a competitive environment.

The company highlighted its strategic initiatives focusing on revenue diversification, operational efficiency, client relationships, operational activity, and asset quality. SB Financial Group also mentioned a successful acquisition – that of Marblehead Bankcorp, strengthening its market position and growth prospects.

On the aspect of operational excellence, the company recorded that mortgage business lines improved, and succeeded in delivering volume increases compared to the prior year. SB Financial Group showed satisfaction with its organic balance sheet growth and performance in various regions.

In terms of future outlook, the company estimated aiming for loan originations of around $400 million in 2025. It anticipated a gradual margin expansion throughout the year, with a focus on driving long-term shareholder value and enhancing customer relationships.

Furthermore, the financial highlights included an overview of net interest income, noninterest income, provision for credit losses, operational expenses, loan balance, and capital management. The discussion extended to asset quality with a positive projection for nonperforming loans, margin development, liquidity management post-acquisition, and ongoing expense control strategies.

SB Financial Group expressed confidence in sustaining its growth trajectory, credit quality management, and strategic initiatives to deliver strong financial performance and shareholder value going forward.

The company’s executives, including Chairman, President, and CEO Mark A. Klein, and Executive VP & CFO Anthony V. Cosentino, answered questions from analysts during the call, providing insights into various operational and financial aspects of the performance and future projections.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read SB Financial Group’s 8K filing here.

SB Financial Group Company Profile

SB Financial Group, Inc operates as the financial holding company for the State Bank and Trust Company that provides a range of commercial banking and wealth management services to individual and corporate customers primarily in Ohio, Indiana, and Michigan. It offers checking, savings, money market accounts, as well as time certificates of deposit; and commercial, consumer, agricultural, and residential mortgage loans.