SB Financial Group Inc ( (SBFG) ) has released its Q1 earnings. Here is a breakdown of the information SB Financial Group Inc presented to its investors.
SB Financial Group Inc., a diversified financial services company headquartered in Defiance, Ohio, offers community banking, mortgage banking, wealth management, and title insurance services across Ohio, Indiana, and Michigan.
In its first quarter of 2025, SB Financial Group reported a 23.2% increase in adjusted net income to $2.7 million, despite incurring $0.7 million in nonrecurring merger expenses. The company successfully completed the acquisition of Marblehead Bank, which contributed to significant growth in deposits and loans.
Key financial highlights include a 17.2% rise in operating revenue to $15.4 million and a 22.9% increase in net interest income. The acquisition of Marblehead Bank added $56 million in low-cost deposits and $19 million in loans, bolstering SB Financial’s market presence and liquidity. The tangible book value per share increased by 5.8% to $15.79.
Despite a slight decline in unadjusted net income and EPS compared to the previous year, SB Financial demonstrated robust loan and deposit growth, with loans increasing by $96.7 million and deposits by $159.7 million year-over-year. The efficiency ratio improved when adjusted for merger costs, reflecting effective cost management.
Looking ahead, SB Financial Group remains focused on executing its growth strategy through organic expansion and strategic acquisitions, while maintaining strong asset quality and disciplined risk management to sustain financial performance and shareholder value.