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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported) July 25, 2023 (July
25, 2023)
SB FINANCIAL GROUP, INC
(Exact name of registrant as specified in its charter)
Ohio |
|
0-13507 |
|
34-1395608 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
401 Clinton Street, Defiance, OH |
|
43512 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including area code (419) 783-8950
Not Applicable
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below):
| ☐ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading symbol(s) |
|
Name of each exchange on which registered |
Common Shares, No Par Value
6,855,159 Outstanding at July 25, 2023 |
|
SBFG |
|
The NASDAQ Stock Market,
LLC (NASDAQ Capital Market) |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On July 25, 2023, SB Financial Group, Inc. (the
“Company”) issued a press release announcing that its Board of Directors has declared a quarterly shareholder dividend of
$0.13 per share. The dividend is payable on August 25, 2023 to all common shareholders of record as of August 11, 2023.
The information on this item 7.01, including Exhibit
99.1 furnished herewith, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities
Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that Section, nor shall such information
be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933 (the
“Securities Act”) or the Exchange Act, except as otherwise stated in such filing.
Item 9.01. Financial Statements and Exhibits.
(a) Not Applicable
(b) Not Applicable
(c) Not Applicable
(d) Exhibits
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
SB FINANCIAL GROUP, INC. |
|
|
Dated: July 25, 2023 |
By: |
/s/ Anthony V. Cosentino |
|
|
Anthony V. Cosentino
Chief Financial Officer |
INDEX TO EXHIBITS
Current Report on Form
8-K
Dated July 25, 2023
SB Financial Group,
Inc.
3
Exhibit 99.1
SB Financial Group Declares Quarterly
Cash Dividend
on Common Stock of $0.13 Cents
Defiance, OH, July 25, 2023 – SB Financial
Group, Inc. (NASDAQ: SBFG) ("SB Financial") announced that its board of directors passed a resolution declaring a quarterly
cash dividend of $0.13 per common share, payable on August 25, 2023, to shareholders of record as of August 11, 2023.
“We are quite pleased to return to our
shareholders a common dividend of $0.13 a share representing a 8 percent increase over the prior quarter of $0.12 and collectively,
for the last four quarters, $0.51 per share vs. $0.47 per share or 9 percent over the previous four quarters, and represents a 3.8%
yield.” said Mark Klein, Chairman, President and CEO of SB Financial. In addition, we repurchased 91,000 shares in the
quarter, continuing our strategy of accretion in earnings per share and tangible book value.
About SB Financial Group
Headquartered
in Defiance, Ohio, SB Financial is a diversified financial services holding company for the State Bank & Trust Company (State Bank)
and SBFG Title, LLC dba Peak Title (Peak Title). State Bank provides a full range of financial services for consumers and small businesses,
including wealth management, private client services, mortgage banking and commercial and agricultural lending, operating through a total
of 23 offices: 22 in nine Ohio counties and one in Fort Wayne, Indiana, and 23 ATMs. State Bank has six loan production offices located
throughout the Tri-State region of Ohio, Indiana and Michigan. Peak Title provides title insurance and title opinions throughout the Tri-State
region. SB Financial’s common stock is listed on the NASDAQ Capital Market with the ticker symbol “SBFG”.
In May 2023,
SB Financial was valued #163 on the American Banker Magazine’s list of top 200 publicly traded Community Bank and Thrifts based
on three-year average return on equity.
Forward-Looking Statements
Certain statements within this document, which
are not statements of historical fact, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements involve risks and uncertainties and actual results may differ materially from those predicted
by the forward-looking statements. These risks and uncertainties include, but are not limited to, the duration and scope of the COVID-19
outbreak in the United States and the market areas in which SB Financial and its subsidiaries operate, including the impact to the state
and local economies of prolonged shelter in place orders and the pandemic generally, risks and uncertainties inherent in the national
and regional banking industry, changes in economic conditions in the market areas in which SB Financial and its subsidiaries operate,
changes in policies by regulatory agencies, changes in accounting standards and policies, changes in tax laws, fluctuations in interest
rates, demand for loans in the market areas in SB Financial and its subsidiaries operate, increases in FDIC insurance premiums, changes
in the competitive environment, losses of significant customers, geopolitical events, the loss of key personnel and other risks identified
in SB Financial’s Annual Report on Form 10-K and documents subsequently filed by SB Financial with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date on which they are made, and SB Financial undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after the date on which the statement is made, except as required by law. All subsequent
written and oral forward-looking statements attributable to SB Financial or any person acting on its behalf are qualified by these cautionary
statements.
Investor Contact Information:
Mark A. Klein
Chairman, President and CEO
Mark.Klein@YourStateBank.com
Anthony V. Cosentino
Executive Vice President
Chief Financial Officer
Tony.Cosentino@YourStateBank.com
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