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DEFIANCE, OH - SB Financial Group, Inc. (NASDAQ:SBFG), a state commercial banking organization, has announced the adoption of an amended and restated Code of Ethics & Business Conduct. This revision was approved by the company’s Board of Directors on April 16, 2025, and is set to take effect on May 1, 2025.
The updated code outlines the expectations for ethical and compliant behavior for all officers, directors, employees, and agents of SB Financial Group and its subsidiaries. The Corporate Governance Committee, which is responsible for reviewing the company’s governance policies, recommended the new code as part of its regular review process.
According to the press release, the updated code incorporates current best practices in governance, ethics, and compliance. It aims to provide a more comprehensive framework by including references to all relevant company policies, as well as additional policies applicable to SB Financial Group’s operations that were not previously covered.
The company has clarified that the adoption of the amended code does not imply a waiver of any provisions for any member of the company from the previous code. The full text of the updated code will be accessible on the "Investors" section of SB Financial Group’s website.
This move reflects SB Financial Group’s commitment to maintaining high standards of corporate governance and ethical conduct. The company, formerly known as Rurban Financial Corp, has its principal executive offices located at 401 Clinton Street, Defiance, Ohio.
The information provided is based on a press release statement from SB Financial Group, Inc. and is intended to inform stakeholders of the changes made to the company’s code of ethics and business conduct.
In other recent news, SB Financial Group reported impressive financial results for the fourth quarter of 2024, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $0.52, significantly exceeding the projected $0.36, and generated revenue of $15.45 million, well above the anticipated $9.8 million. This strong performance is attributed to a 13.7% increase in net interest income year-over-year and the strategic acquisition of Marblehead Bancorp, which enhanced SB Financial’s market position. In addition to the earnings announcement, SB Financial Group held its Annual Meeting of Shareholders where three directors were elected, and FORVIS, LLP was ratified as the independent auditor for the fiscal year ending December 31, 2025. The company also passed a resolution on executive compensation, with a majority of shareholders favoring a 1-year interval for future advisory votes on this matter. These developments reflect SB Financial Group’s commitment to transparency and strategic growth, positioning the company for continued success in the financial sector.
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