SB Financial Group Confirms Board Directors and Auditor

DEFIANCE, Ohio - SB Financial Group, Inc. (NASDAQ:SBFG), a state commercial bank with a market capitalization of $123 million, announced the results of its Annual Meeting of Shareholders held in Defiance, Ohio. According to InvestingPro analysis, the company currently trades near its Fair Value, while maintaining a consistent dividend growth track record of 12 consecutive years. The meeting, which took place on Monday, saw shareholders vote on several key proposals, including the election of directors and the appointment of the company’s independent auditor.

At the meeting, three directors were elected to serve three-year terms expiring in 2028. Richard L. Hardgrove received 3,085,577 votes for, 702,952 withheld, and there were 1,055,018 broker non-votes. Mark A. Klein garnered 3,612,921 votes for, 175,608 withheld, and 1,055,018 non-votes. William G. Martin obtained 3,173,000 votes for, 615,529 withheld, and 1,055,018 non-votes.

In addition to the election of directors, the shareholders ratified the appointment of FORVIS, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. The proposal received strong support with 4,771,066 votes for, 47,431 against, and 25,050 abstentions.

Further, a non-binding advisory resolution to approve the compensation of SB Financial’s named executive officers was passed with 3,475,505 votes for, 157,198 against, 1,055,018 non-votes, and 155,826 abstentions.

The shareholders also approved the frequency of future advisory votes on the compensation of named executive officers, with a majority favoring a 1-year interval for such votes. The tally for this proposal was 3,410,278 for 1 year, 9,198 for 2 years, 209,929 for 3 years, and 159,124 abstentions.

The participation level at the Annual Meeting was robust, with 74.11% of the outstanding common shares represented either in person or by proxy. The bank’s financial health metrics from InvestingPro show a P/E ratio of 11x and a dividend yield of 3.1%, with analysts forecasting profitability for the current year despite anticipated sales decline.

This update is based on a press release statement and reflects the company’s commitment to transparency in its corporate governance practices. The outcomes of the meeting are expected to guide SB Financial Group’s strategic direction for the upcoming term. Investors should note that the company will report its next earnings on May 1, 2025. For deeper insights into SBFG’s financial health and comprehensive analysis, access the full Pro Research Report available exclusively on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.

In other recent news, SB Financial Group Inc. reported strong financial results for the fourth quarter of 2024, beating analysts’ expectations. The company achieved an earnings per share (EPS) of $0.52, surpassing the forecasted $0.36, and reported revenue of $15.45 million, well above the projected $9.8 million. Additionally, SB Financial completed the acquisition of Marblehead Bancorp, which is expected to enhance its market position. Analysts from firms such as Janney Montgomery noted the company’s significant EPS and revenue beats, with EPS exceeding expectations by 44% and revenue by 57.6%. The company also reported a 13.7% increase in net interest income year-over-year, contributing to its robust performance. SB Financial’s strategic focus on loan growth and mortgage originations was highlighted as a key factor in its competitive positioning within the financial sector. The company’s proactive approach to financial communications was evident as it shared these developments with investors and analysts.

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