# EDGAR Filing Document

**Accession Number:** 0000767405
**File Stem:** 0001213900-26-010201
**Filing Date:** 2026-1
**Character Count:** 53066
**Document Hash:** 5c58a37da88e8fd6314f57aa909be626
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-010201.hdr.sgml**: 20260130

**ACCESSION NUMBER**: 0001213900-26-010201

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260129

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260130

**DATE AS OF CHANGE**: 20260130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SB FINANCIAL GROUP, INC.
- **CENTRAL INDEX KEY:** 0000767405
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 341395608
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36785
- **FILM NUMBER:** 26583597

**BUSINESS ADDRESS:**
- **STREET 1:** 401 CLINTON ST
- **CITY:** DEFIANCE
- **STATE:** OH
- **ZIP:** 43512
- **BUSINESS PHONE:** 4197838930

**MAIL ADDRESS:**
- **STREET 1:** 401 CLINTON STREET
- **STREET 2:** PO BOX 467
- **CITY:** DEFIANCE
- **STATE:** OH
- **ZIP:** 43512

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RURBAN FINANCIAL CORP
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'?

**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) <u>January 30, 2026</u> <u>(January 29, 2026)</u>

SB FINANCIAL GROUP, INC

(Exact name of registrant as specified in its charter)

<u>Ohio</u> <u>001-36785</u> <u>34-1395608</u> <br> (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

<u>401 Clinton Street, Defiance, OH</u> <u>43512</u> <br> (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code <u>(419)</u> <u>783-8950</u>

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 registererd |
| Common Shares, No Par Value 6,227,310 Outstanding at January 30, 2026 | SBFG | The NASDAQ Stock Market, LLC<br> (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. ☐

<u>Item 2.02. Results of Operations and Financial Condition</u>.

On January 29, 2026, SB Financial Group, Inc. (the "Company") issued a news release reporting financial results for the fourth quarter and full year 2025. A copy of the January 29, 2026 news release is furnished as Exhibit 99.1 and is incorporated herein by reference.

The information in this Item 2.02, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed to be "filed" for 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 or the Exchange Act, except as otherwise stated in such filing.

<u>Item 9.01. Financial Statements and Exhibits</u>.

(a) Not Applicable

(b) Not Applicable

(c) Not Applicable

(d) Exhibits

---

| | |
|:---|:---|
| Exhibit No. | Description |
| 99.1 | [News release issued by SB Financial Group, Inc. on January 29, 2026, reporting financial results for the fourth quarter and full year 2025.](ea027485101ex99-1_sbfin.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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. | SB FINANCIAL GROUP, INC. |
| Dated: January 30, 2026 | By: | /s/ Anthony V. Cosentino |
|  |  | Anthony V. Cosentino |
|  |  | Chief Financial Officer |

---

INDEX TO EXHIBITS

Current Report on Form 8-K

Dated January 30, 2026

SB Financial Group, Inc.

---

| | |
|:---|:---|
| Exhibit No. | Description |
| 99.1 | [News release issued by SB Financial Group, Inc. on January 29, 2026, reporting financial results for the fourth quarter and full year 2025.](ea027485101ex99-1_sbfin.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**SB Financial Group Announces Fourth Quarter 2025 Results**

**DEFIANCE, OH, January 29, 2026 -- SB Financial Group, Inc. (NASDAQ: SBFG)** ("SB Financial" or the "Company")**,** a diversified financial services company providing full-service community banking, mortgage banking, wealth management, private client and title insurance services today reported earnings for the full year ended December 31, 2025.

**Fourth Quarter 2025 Highlights compared to the fourth quarter of the prior year include:**

● GAAP net income and Diluted Earnings per Share ("DEPS") were $3.9 million, or $0.63 per DEPS, an improvement from the $3.6 million, or $0.55 per DEPS in the prior-year quarter. Net Income, adjusted for Originated Mortgage Servicing Rights ("OMSR"), was $4.0 million, up 18.6 percent compared to $3.4 million for the prior-year period. Adjusted DEPS of $0.65 was also up 25.0 percent, from the adjusted prior year.

● Net interest income of $12.7 million increased by 16.7 percent from $10.9 million reported in the prior-year quarter.

● Loan growth of $133.9 million, or 12.8 percent from the prior-year quarter, with growth from the linked quarter of $70.0 million, or 6.3 percent. This marks the seventh consecutive quarter of sequential loan growth. Loan growth adjusted for the Marblehead acquisition was $115.7 and $70.0 million, from the prior year and linked quarters, respectively.

● Deposit growth of $154.6 million, or 13.4 percent from the prior-year quarter, with an increase from the linked quarter of $44.7 million, or 3.5 percent. Adjusted for the Marblehead acquisition, total deposits increased $107.5 million from the prior year, or a 9.3 percent increase.

● Tangible book value ("TBV") per share ended the quarter at $18.00 up $2.00 per share or 12.5 percent from the prior-year quarter. Adjusted TBV now rests at $21.44 per share.

**Twelve months ended December 31, 2025 Highlights compared to the same period of the prior year:**

● Net interest income rose to $48.5 million, representing a year-over-year improvement of 21.4 percent from $39.9 million for the twelve months ending December 31, 2024.

● Total interest expense increased to $25.5 million, up by 4.3 percent from $24.4 million in the prior year period.

● Net income increased to $14.0 million for the twelve months ending December 31, 2025, representing an improvement of 21.8% from $11.5 million in the prior year.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** |
| **Earnings Highlights**<br>**($ in thousands, except per share & ratios)** | **Dec. 2025** | **Dec. 2024** | **% Change** | **Dec. 2025** | **Dec. 2024** | **% Change** |
| Operating revenue | $16420 | $15454 | 6.3% | $65560 | $56939 | 15.1% |
| Interest income | 19272 | 16847 | 14.4% | 73920 | 64349 | 14.9% |
| Interest expense | 6560 | 5950 | 10.3% | 25467 | 24427 | 4.3% |
| Net interest income | 12712 | 10897 | 16.7% | 48453 | 39922 | 21.4% |
| Provision for credit losses | 198 | (76) | 360.5% | 1306 | 124 | 953.2% |
| Noninterest income | 3708 | 4557 | -18.6% | 17107 | 17017 | 0.5% |
| Noninterest expense | 11239 | 11003 | 2.1% | 46999 | 42959 | 9.4% |
| Net income | 3918 | 3635 | 7.8% | 13974 | 11470 | 21.8% |
| Adjusted Earnings per diluted share | 0.65 | 0.52 | 25.0% | 2.31 | 1.71 | 35.1% |
| Earnings per diluted share | 0.63 | 0.55 | 14.5% | 2.19 | 1.72 | 27.3% |
| Adjusted Return on Avg. Assets | 1.02% | 1.02% | 0.0% | 0.98% | 0.84% | 16.7% |
| Return on average assets | 1.01% | 1.04% | -2.9% | 0.93% | 0.84% | 10.7% |
| Adjusted Return on Avg. Equity | 11.43% | 10.38% | 10.1% | 10.98% | 9.16% | 19.9% |
| Return on average equity | 11.08% | 11.07% | 0.1% | 10.38% | 9.19% | 12.9% |

---

"Net income for the fourth quarter was $3.9 million, a 7.8 percent increase from the prior-year quarter, with the GAAP DEPS of $0.63 up 14.5 percent from the prior year," said Mark A. Klein, Chairman, President, and CEO. This marks 60 consecutive quarters of profitability, which also included the third full quarter of contribution from the Marblehead acquisition, which continues to strengthen our liquidity profile and further extended our market presence in Northern Ohio.

Net interest income for the quarter grew by $1.8 million to $12.7 million compared to the previous year, driven by strong loan growth, rising loan yields, and more stable funding costs. Total loans increased by $133.9 million, compared to the prior year, and by $70.0 million from the linked quarter. On an organic basis, excluding the Marblehead acquisition, loan balances increased $115.7 million from the prior year. Deposits increased $154.6 million, or 13.4 percent, to $1.31 billion, driven by stable core deposit relationships. Excluding acquired deposits, organic growth totaled $107.5 million, demonstrating the Bank's ability to sustain long-standing client relationships while continuing to source additional deposit balances."

**RESULTS OF OPERATIONS**

In the fourth quarter of 2025, total operating revenue increased to $16.4 million, a 6.3 percent increase from $15.5 million in the prior year and a 1.0 percent decrease from the linked quarter. The year-over-year increase was driven by higher net interest income and incremental expansion in core non-interest income. Net interest income totaled $12.7 million for the quarter, representing a 16.7 percent increase from the prior year, driven by higher interest income on loans, which increased $2.3 million to $17.3 million. Interest expense rose modestly, with higher deposit costs offset in part by lower costs across other funding sources, resulting in a 10.3 percent increase in total interest expense compared to the prior-year quarter. As a result, net interest margin increased 16 basis points year over year to 3.5 percent. Noninterest income declined 18.6 percent from the prior year period to $3.7 million, primarily driven by lower wealth management fees, mortgage loan servicing fees, and other fee-based income. These declines were partially offset by higher customer service fees, gains on the sale of mortgage and non-mortgage loans and increased title insurance revenue. "Our results this quarter reflect continued balance sheet discipline, with funding cost management supporting margin expansion, while noninterest income was impacted by lower activity in certain fee-based businesses," said Mr. Klein. "We remain focused on maintaining a diversified revenue mix and executing on long-term growth priorities."

**Mortgage Loan Business** 

Net mortgage banking revenue for the quarter reached $1.5 million, down $541,000 from the prior-year quarter. Loan servicing fees added $928,000 to revenue, reflecting an increase of $42,000 from the prior-year quarter. The OMSR net valuation adjustment for the fourth quarter of 2025 was a negative $157,000 compared to a recapture of $288,000 in the fourth quarter of 2024.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Mortgage Banking**<br> **($ in thousands)** | **Dec. 2025** | **Sep. 2025** | **Jun. 2025** | **Mar. 2025** | **Dec. 2024** | **Prior Year<br> Growth** |
| Mortgage originations | $72398 | $67609 | $97901 | $39775 | $72534 | $(136) |
| Mortgage sales | 70361 | 66408 | 74313 | 39279 | 62301 | 8060 |
| Mortgage servicing portfolio | 1479982 | 1470360 | 1456374 | 1432184 | 1427318 | 52664 |
| Mortgage servicing rights | 15254 | 15347 | 15458 | 14965 | 14868 | 386 |
| **Revenue** |  |  |  |  |  |  |
| Loan servicing fees | 928 | 914 | 904 | 894 | 886 | 42 |
| OMSR amortization | (572) | (455) | (469) | (294) | (358) | (214) |
| Net administrative fees | 356 | 459 | 435 | 600 | 528 | (172) |
| OMSR valuation adjustment | (157) | (301) | 159 | 11 | 288 | (445) |
| Net loan servicing fees | 199 | 158 | 594 | 611 | 816 | (617) |
| Gain on sale of mortgages | 1272 | 1328 | 1566 | 849 | 1196 | 76 |
| **Mortgage banking revenue, net** | $**1471** | $**1486** | $**2160** | $**1460** | $**2012** | $**(541)** |

---

**Noninterest Income and Noninterest Expense**

"Noninterest income for the fourth quarter of 2025 totaled $3.7 million, a decrease of $849,000 or 18.6 percent from the prior-year quarter, driven primarily by a decline in mortgage loan servicing fees and other fee-based income. Despite the year over year decline, noninterest revenue base remains well diversified, with gains on the sale of mortgage loans increasing $76,000 and customer servicing fees increasing $50,000, helping to partially offset lower fee activity," Mr. Klein noted.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noninterest Income/Noninterest Expense<br> ($ in thousands, except ratios)** | **Dec. 2025** | **Sep. 2025** | **Jun. 2025** | **Mar. 2025** | **Dec. 2024** | **Prior Year<br> Growth** |
| Noninterest Income (NII) | $3708 | $4244 | $5048 | $4107 | $4557 | $(849) |
| NII / Total Revenue | 22.6% | 25.6% | 29.4% | 26.7% | 29.5% | -6.9% |
| NII / Average Assets | 1.0% | 1.1% | 1.4% | 1.1% | 1.3% | -0.3% |
| Total Revenue Growth | 6.3% | 15.9% | 22.3% | 17.2% | 2.2% | 4.1% |
| Noninterest Expense (NIE) | $11239 | $11498 | $11852 | $12410 | $11003 | $236 |
| Efficiency Ratio | 68.1% | 69.0% | 68.9% | 80.0% | 71.1% | -3.0% |
| NIE / Average Assets | 2.9% | 3.0% | 3.2% | 3.4% | 3.2% | -0.3% |
| Net Noninterest Expense/Avg. Assets | -1.9% | -1.9% | -1.8% | -2.3% | -1.8% | -0.1% |
| Total Expense Growth | 2.1% | 4.5% | 11.1% | 20.7% | 6.1% | -4.0% |

---

Noninterest expense for the fourth quarter of 2025 totaled $11.2 million, an increase of 2.1 percent from the prior-year period, driven primarily by higher net occupancy costs, state and local taxes, and other noninterest expenses. These increases were partially offset by lower salary and benefit expenses, as well as reduction in professional fees and marketing costs. "Our efficiency ratio for the fourth quarter of 2025 was 68.1 percent, reflecting continued discipline in expense management as we balanced targeted investments with revenue performance," stated Mr. Klein.

**Balance Sheet** 

As of December 31, 2025, SB Financial reported total assets of $1.55 billion, an increase from the linked quarter and the previous year. Year-over-year growth was primarily driven by strong growth in the loan portfolio, which reached $1.18 billion, marking a $133.9 million or 12.8 percent increase year over year. Loan growth also included $18.2 million in loans added with the completion of the Marblehead acquisition. Cash increased by $45.6 million from the prior year, from investment portfolio runoff and deposit growth. Key metrics this quarter included our loan-to-deposit ratio of 90.3 percent and our loan to asset ratio of 76 percent, both of which remain within the upper range of the Company's target levels.

Total deposits increased to $1.31 billion, growing $154.6 million, or 13.4 percent, year over year, including $47.1 million in low-cost deposits from the acquisition and $107.5 million of organic deposit growth. Organic growth was supported by continued deposit gathering activity and customer engagement across SB Financial's markets. Shareholders' equity totaled $141.2 million at quarter end, representing an increase of $13.7 million from the prior year, or an increase of $3.01 per share, reflecting earnings retention and disciplined balance sheet management.

During the fourth quarter, SB Financial repurchased approximately 32,000 shares, a decrease from the prior quarter, reflecting management's disciplined capital deployment and its assessment of market conditions and capital priorities during the period. The Company remains focused on a balanced approach to capital management, prioritizing shareholder returns through dividends and share repurchases, while maintaining flexibility to support organic growth, strategic opportunities, and capital strength.

"As we move into the first quarter of 2026, the Company remains well positioned, supported by a strong balance sheet, solid asset quality and disciplined approach to capital management," said Mr. Klein. "Loan balances continued to grow over the past year, driven by steady client activity and consistent execution across our markets, while credit performance and reserve coverage remained sound. While we navigated variability across certain revenue categories during the quarter, our diversified business model and funding profile continue to provide stability. Looking ahead, we remain focused on prudent organic growth, disciplined expense management, and thoughtful capital deployment to support sustainable performance and long-term shareholder value.

**Loan Balances**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **($ in thousands, except ratios)** | **Dec. 2025** | **Sep. 2025** | **Jun. 2025** | **Mar. 2025** | **Dec. 2024** | **Annual<br> Growth** |
| Commercial | $113878 | $117581 | $118984 | $125878 | $124764 | $(10886) |
| % of Total | 9.6% | 10.6% | 10.9% | 11.6% | 11.9% | -8.7% |
| Commercial RE | 596983 | 535307 | 525671 | 509518 | 479573 | 117410 |
| % of Total | 50.6% | 48.2% | 48.0% | 46.8% | 45.8% | 24.5% |
| Agriculture | 76514 | 65150 | 60924 | 61443 | 64680 | 11834 |
| % of Total | 6.5% | 5.9% | 5.6% | 5.6% | 6.2% | 18.3% |
| Residential RE | 304741 | 309140 | 310126 | 319307 | 308378 | (3637) |
| % of Total | 25.8% | 27.8% | 28.3% | 29.3% | 29.5% | -1.2% |
| Consumer & Other | 88475 | 83367 | 79014 | 72128 | 69340 | 19135 |
| % of Total | 7.5% | 7.5% | 7.2% | 6.6% | 6.6% | 27.6% |
| **Total Loans** | $**1180591** | $**1110545** | $**1094719** | $**1088274** | $**1046735** | $**133856** |
| Total Growth Percentage |  |  |  |  |  | 12.8% |

---

**Deposit Balances**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **($ in thousands, except ratios)** | **Dec. 2025** | **Sep. 2025** | **Jun. 2025** | **Mar. 2025** | **Dec. 2024** | **Annual<br> Growth** |
| Non-Int DDA | $254063 | $246725 | $241245 | $240446 | $232155 | $21908 |
| % of Total | 19.4% | 19.5% | 19.3% | 18.9% | 20.1% | 9.4% |
| Interest DDA | 202501 | 194420 | 205581 | 208583 | 201085 | 1416 |
| % of Total | 15.5% | 15.4% | 16.4% | 16.4% | 17.4% | 0.7% |
| Savings | 296484 | 290111 | 282311 | 285902 | 237987 | 58497 |
| % of Total | 22.7% | 23.0% | 22.6% | 22.5% | 20.6% | 24.6% |
| Money Market | 280896 | 261953 | 249536 | 257013 | 222161 | 58735 |
| % of Total | 21.5% | 20.7% | 20.0% | 20.2% | 19.3% | 26.4% |
| Time Deposits | 273300 | 269313 | 271149 | 279276 | 259217 | 14083 |
| % of Total | 20.9% | 21.3% | 21.7% | 22.0% | 22.5% | 5.4% |
| **Total Deposits** | $**1307244** | $**1262522** | $**1249822** | $**1271220** | $**1152605** | $**154639** |
| Total Growth Percentage |  |  |  |  |  | 13.4% |

---

**Asset Quality**

As of December 31, 2025, SB Financial continued to report strong asset quality metrics. Nonperforming assets totaled $4.7 million, representing 0.30 percent of total assets, a decrease of $833,000 from $5.5 million or 0.40 percent of total assets, in the prior year, and a modest decline from the linked quarter, which reported nonperforming assets of $4.9 million or 0.32 percent of total assets.

The allowance for credit losses remained strong at 1.36 percent of total loans, providing coverage of 351.9 percent of nonperforming loans. This level was consistent with the linked quarter and represented a meaningful improvement compared to the prior year period, consistent with the Company's disciplined credit risk framework. Net loan charge-offs to average loans remained modest at four basis points, increasing slightly from zero basis points in the linked quarter and improving from seven basis points in the prior year. Collectively, these metrics reflect SB Financial's continued emphasis on disciplined underwriting and effective credit administration.

"Our credit results this quarter reflect continued stability across the loan portfolio and further progress in managing problem assets," said Mr. Klein "Nonperforming assets declined from the prior quarter as we maintained disciplined credit standards, while reserve coverage and charge-off levels remained consistent with our risk appetite. We will continue to emphasize disciplined underwriting and proactive credit management as we support measured growth across our markets."

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Nonperforming Assets <br> ($ in thousands, except ratios)** | **Dec. 2025** | **Sep. 2025** | **Jun. 2025** | **Mar. 2025** | **Dec. 2024** | **Annual <br> Change** |
| Commercial & Agriculture | $2256 | $2243 | $3274 | $3418 | $2927 | $(671) |
| % of Total Com./Ag. loans | 1.18% | 1.23% | 1.82% | 1.82% | 1.55% | -22.9% |
| Commercial RE | 771 | 778 | 816 | 798 | 807 | (36) |
| % of Total CRE loans | 0.13% | 0.15% | 0.16% | 0.16% | 0.17% | -4.5% |
| Residential RE | 1322 | 1400 | 1577 | 1608 | 1539 | (217) |
| % of Total Res. RE loans | 0.43% | 0.45% | 0.51% | 0.50% | 0.50% | -14.1% |
| Consumer & Other | 230 | 195 | 205 | 227 | 243 | (13) |
| % of Total Con./Oth. loans | 0.26% | 0.23% | 0.26% | 0.31% | 0.35% | -5.3% |
| Total Nonaccruing Loans | 4579 | 4616 | 5872 | 6051 | 5516 | (937) |
| % of Total loans | 0.39% | 0.42% | 0.54% | 0.56% | 0.53% | -17.0% |
| Foreclosed Assets and Other Assets | 104 | 237 | 284 | 73 |  | 104 |
| Total Change (%) |  |  |  |  |  | N/M |
| Total Nonperforming Assets | $4683 | $4853 | $6156 | $6124 | $5516 | $(833) |
| % of Total assets | 0.30% | 0.32% | 0.41% | 0.41% | 0.40% | -15.10% |

---

**Webcast and Conference Call**

The Company will hold the fourth quarter 2025 earnings conference call and webcast on January 30, 2026, at 11:00 a.m. EST. Interested parties may access the conference call by dialing 1-888-338-9469. The webcast can be accessed at ir.yourstatebank.com. An audio replay of the call will be available on the Company's website.

**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 27 offices: 25 in eleven Ohio counties and two in Northeast, Indiana, and 27 ATMs. State Bank has four 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 and Kentucky. SB Financial's common stock is listed on the NASDAQ Capital Market with the ticker symbol "SBFG".

**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, 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.

**Non-GAAP Financial Measures**

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles ("GAAP"). Non-GAAP financial measures, specifically pre-tax, pre-provision income, tangible common equity, tangible assets, tangible book value per common share, tangible common equity to tangible assets, return on average tangible common equity, total interest income – FTE, net interest income – FTE and net interest margin – FTE are used by the Company's management to measure the strength of its capital and analyze profitability, including its ability to generate earnings on tangible capital invested by its shareholders. In addition, the Company excludes the OMSR valuation adjustment and any gain on sale of assets from net income to report a non-GAAP adjusted net income level. Although management believes these non-GAAP measures are useful to investors by providing a greater understanding of its business, they should not be considered a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

**Investor Contact Information:**

Mark A. Klein

Chairman, President and

Chief Executive Officer

Mark.Klein@YourStateBank.com

Anthony V. Cosentino

Executive Vice President and

Chief Financial Officer

Tony.Cosentino@YourStateBank.com

**SB FINANCIAL GROUP, INC.**

**CONSOLIDATED BALANCE SHEETS - (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**($ in thousands)** | **December**<br>**2025** | **September**<br>**2025** | **June**<br>**2025** | **March**<br>**2025** | **December**<br>**2024** |
| **ASSETS** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash and due from banks | $71543 | $85025 | $79463 | $105145 | $25928 |
| &nbsp;&nbsp;&nbsp;Interest bearing time deposits | 1140 | 2025 | 1565 | 1565 | 1565 |
| &nbsp;&nbsp;&nbsp;Available-for-sale securities | 188626 | 193190 | 195955 | 199721 | 201587 |
| &nbsp;&nbsp;&nbsp;Loans held for sale | 1761 | 4736 | 12774 | 4286 | 6770 |
| &nbsp;&nbsp;&nbsp;Loans, net of unearned income | 1180591 | 1110545 | 1094719 | 1088274 | 1046735 |
| &nbsp;&nbsp;&nbsp;Allowance for credit losses | (16114) | (15943) | (15645) | (15391) | (15096) |
| &nbsp;&nbsp;&nbsp;Premises and equipment, net | 21688 | 21764 | 21857 | 21875 | 20456 |
| &nbsp;&nbsp;&nbsp;Federal Reserve and FHLB Stock, at cost | 5610 | 5466 | 5466 | 5340 | 5223 |
| &nbsp;&nbsp;&nbsp;Foreclosed assets | 104 | 237 | 284 | 73 |  |
| &nbsp;&nbsp;&nbsp;Interest receivable | 5490 | 5455 | 5299 | 5072 | 4908 |
| &nbsp;&nbsp;&nbsp;Goodwill | 27158 | 27158 | 27158 | 27158 | 23239 |
| &nbsp;&nbsp;&nbsp;Cash value of life insurance | 32208 | 32004 | 31060 | 30871 | 30685 |
| &nbsp;&nbsp;&nbsp;Mortgage servicing rights | 15254 | 15347 | 15458 | 14965 | 14868 |
| &nbsp;&nbsp;&nbsp;Other assets | 10308 | 9254 | 10888 | 12048 | 12649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $1545367 | $1496263 | $1486301 | $1501002 | $1379517 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non interest bearing demand | $254063 | $246725 | $241245 | $240446 | $232155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest bearing demand | 202501 | 194420 | 205581 | 208583 | 201085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savings | 296484 | 290111 | 282311 | 285902 | 237987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market | 280896 | 261953 | 249536 | 257013 | 222161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 273300 | 269313 | 271149 | 279276 | 259217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1307244 | 1262522 | 1249822 | 1271220 | 1152605 |
| &nbsp;&nbsp;&nbsp;Short-term borrowings | 9230 | 10976 | 15640 | 11058 | 10585 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank advances | 35000 | 35000 | 35000 | 35000 | 35000 |
| &nbsp;&nbsp;&nbsp;Trust preferred securities | 10310 | 10310 | 10310 | 10310 | 10310 |
| &nbsp;&nbsp;&nbsp;Subordinated debt net of issuance costs | 19739 | 19726 | 19715 | 19702 | 19690 |
| &nbsp;&nbsp;&nbsp;Interest payable | 2460 | 2739 | 2258 | 2634 | 2351 |
| &nbsp;&nbsp;&nbsp;Other liabilities | 20148 | 18051 | 19908 | 19552 | 21468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1404131 | 1359324 | 1352653 | 1369476 | 1252009 |
| &nbsp;&nbsp;&nbsp;Shareholders' Equity |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock | 61319 | 61319 | 61319 | 61319 | 61319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 15160 | 15086 | 15139 | 14955 | 15194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 126311 | 123370 | 120273 | 117397 | 116186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (21481) | (23412) | (25492) | (26872) | (30234) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury stock | (40073) | (39424) | (37591) | (35273) | (34957) |
| Total shareholders' equity | 141236 | 136939 | 133648 | 131526 | 127508 |
| Total liabilities and shareholders' equity | $1545367 | $1496263 | $1486301 | $1501002 | $1379517 |

---

**SB FINANCIAL GROUP, INC.**

**CONSOLIDATED STATEMENTS OF INCOME - (Unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** |
| <br>**($ in thousands, except per**<br>**share & ratios)** | **December**<br>**2025** | **September**<br>**2025** | **June**<br>**2025** | **March**<br>**2025** | **December**<br>**2024** | **December**<br>**2025** | **December**<br>**2024** |
| Interest income |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | $17234 | $16449 | $16059 | $15244 | $14920 | $64986 | $56863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax exempt | 107 | 117 | 116 | 115 | 122 | 455 | 496 |
| &nbsp;&nbsp;&nbsp;Securities |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | 1096 | 1097 | 1133 | 1169 | 1178 | 4495 | 4870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax exempt | 36 | 35 | 35 | 38 | 35 | 144 | 146 |
| &nbsp;&nbsp;&nbsp;Other interest income | 799 | 1111 | 1124 | 806 | 592 | 3840 | 1974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 19272 | 18809 | 18467 | 17372 | 16847 | 73920 | 64349 |
| Interest expense |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 5820 | 5721 | 5597 | 5352 | 5169 | 22490 | 21035 |
| &nbsp;&nbsp;&nbsp;Repurchase agreements & other | 22 | 28 | 21 | 24 | 41 | 95 | 154 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank advances | 370 | 369 | 366 | 362 | 369 | 1467 | 1721 |
| &nbsp;&nbsp;&nbsp;Trust preferred securities | 154 | 162 | 161 | 160 | 177 | 637 | 739 |
| &nbsp;&nbsp;&nbsp;Subordinated debt | 194 | 195 | 194 | 195 | 194 | 778 | 778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 6560 | 6475 | 6339 | 6093 | 5950 | 25467 | 24427 |
| **Net interest income** | 12712 | 12334 | 12128 | 11279 | 10897 | 48453 | 39922 |
| &nbsp;&nbsp;&nbsp;Provision for credit losses | 198 | 124 | 597 | 387 | (76) | 1306 | 124 |
| **Net interest income after provision for credit losses** | 12514 | 12210 | 11531 | 10892 | 10973 | 47147 | 39798 |
| Noninterest income |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Wealth management fees | 900 | 912 | 859 | 864 | 916 | 3535 | 3511 |
| &nbsp;&nbsp;&nbsp;Customer service fees | 892 | 887 | 886 | 879 | 842 | 3544 | 3467 |
| &nbsp;&nbsp;&nbsp;Gain on sale of mtg. loans & OMSR | 1272 | 1328 | 1566 | 849 | 1196 | 5015 | 4565 |
| &nbsp;&nbsp;&nbsp;Mortgage loan servicing fees, net | 199 | 158 | 594 | 611 | 816 | 1562 | 2183 |
| &nbsp;&nbsp;&nbsp;Gain on sale of non-mortgage loans | 38 | 8 | 82 | 15 | 10 | 143 | 145 |
| &nbsp;&nbsp;&nbsp;Title insurance revenue | 525 | 544 | 582 | 397 | 478 | 2048 | 1635 |
| &nbsp;&nbsp;&nbsp;Other | (118) | 407 | 479 | 492 | 299 | 1260 | 1311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 3708 | 4244 | 5048 | 4107 | 4557 | 17107 | 17017 |
| Noninterest expense |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | 6047 | 6198 | 6595 | 6237 | 6185 | 25077 | 23603 |
| &nbsp;&nbsp;&nbsp;Net occupancy expense | 822 | 801 | 793 | 893 | 702 | 3309 | 2884 |
| &nbsp;&nbsp;&nbsp;Equipment expense | 1154 | 1188 | 1121 | 1072 | 1127 | 4535 | 4333 |
| &nbsp;&nbsp;&nbsp;Data processing fees | 790 | 723 | 888 | 1439 | 821 | 3840 | 3075 |
| &nbsp;&nbsp;&nbsp;Professional fees | 805 | 863 | 892 | 1034 | 895 | 3594 | 2927 |
| &nbsp;&nbsp;&nbsp;Marketing expense | 122 | 174 | 190 | 165 | 207 | 651 | 821 |
| &nbsp;&nbsp;&nbsp;Telephone and communication expense | 124 | 123 | 125 | 139 | 136 | 511 | 525 |
| &nbsp;&nbsp;&nbsp;Postage and delivery expense | 140 | 157 | 107 | 137 | 116 | 541 | 447 |
| &nbsp;&nbsp;&nbsp;State, local and other taxes | 331 | 268 | 268 | 224 | 224 | 1091 | 907 |
| &nbsp;&nbsp;&nbsp;Employee expense | 158 | 255 | 176 | 174 | 168 | 763 | 733 |
| &nbsp;&nbsp;&nbsp;Other expenses | 746 | 748 | 697 | 896 | 422 | 3087 | 2704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 11239 | 11498 | 11852 | 12410 | 11003 | 46999 | 42959 |
| **Income before income tax expense** | 4983 | 4956 | 4727 | 2589 | 4527 | 17255 | 13856 |
| &nbsp;&nbsp;&nbsp;Income tax expense | 1065 | 910 | 875 | 431 | 892 | 3281 | 2386 |
| **Net income** | $3918 | $4046 | $3852 | $2158 | $3635 | $13974 | $11470 |
| **Common share data:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic earnings per common share | $0.63 | $0.64 | $0.60 | $0.33 | $0.55 | $2.19 | $1.72 |
| &nbsp;&nbsp;&nbsp;Diluted earnings per common share | $0.63 | $0.64 | $0.60 | $0.33 | $0.55 | $2.19 | $1.72 |
| **Average shares outstanding (in thousands):** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic: | 6252 | 6297 | 6448 | 6481 | 6575 | 6369 | 6660 |
| &nbsp;&nbsp;&nbsp;Diluted: | 6266 | 6311 | 6459 | 6502 | 6599 | 6388 | 6680 |

---

**SB FINANCIAL GROUP, INC. <br> CONSOLIDATED FINANCIAL HIGHLIGHTS - (Unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** |
| **($ in thousands, except per share & ratios)**<br>**SUMMARY OF OPERATIONS** | **December**<br>**2025** | **September**<br>**2025** | **June**<br>**2025** | **March**<br>**2025** | **December**<br>**2024** | **December**<br>**2025** | **December**<br>**2024** |
| &nbsp;&nbsp;&nbsp;Net interest income | $12712 | $12334 | $12128 | $11279 | $10897 | $48453 | $39922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax-equivalent adjustment | 38 | 40 | 40 | 41 | 42 | 159 | 171 |
| &nbsp;&nbsp;&nbsp;Tax-equivalent net interest income | 12750 | 12374 | 12168 | 11320 | 10939 | 48612 | 40093 |
| &nbsp;&nbsp;&nbsp;Provision for credit loss | 198 | 124 | 597 | 387 | (76) | 1306 | 124 |
| &nbsp;&nbsp;&nbsp;Noninterest income | 3708 | 4244 | 5048 | 4107 | 4557 | 17107 | 17017 |
| &nbsp;&nbsp;&nbsp;Total operating revenue | 16420 | 16578 | 17176 | 15386 | 15454 | 65560 | 56939 |
| &nbsp;&nbsp;&nbsp;Noninterest expense | 11239 | 11498 | 11852 | 12410 | 11003 | 46999 | 42959 |
| &nbsp;&nbsp;&nbsp;Pre-tax pre-provision income | 5181 | 5080 | 5324 | 2976 | 4451 | 18561 | 13980 |
| &nbsp;&nbsp;&nbsp;Net income | 3918 | 4046 | 3852 | 2158 | 3635 | 13974 | 11470 |
| **PER SHARE INFORMATION:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic earnings per share (EPS) | 0.63 | 0.64 | 0.60 | 0.33 | 0.55 | 2.19 | 1.72 |
| &nbsp;&nbsp;&nbsp;Diluted earnings per share | 0.63 | 0.64 | 0.60 | 0.33 | 0.55 | 2.19 | 1.72 |
| &nbsp;&nbsp;&nbsp;Common dividends | 0.155 | 0.150 | 0.150 | 0.145 | 0.145 | 0.600 | 0.560 |
| &nbsp;&nbsp;&nbsp;Book value per common share | 22.65 | 21.85 | 21.02 | 20.29 | 19.64 | 22.65 | 19.64 |
| &nbsp;&nbsp;&nbsp;Tangible book value per common share (TBV) | 18.00 | 17.21 | 16.44 | 15.79 | 16.00 | 18.00 | 16.00 |
| &nbsp;&nbsp;&nbsp;Market price per common share | 22.27 | 19.29 | 19.10 | 20.82 | 20.91 | 22.27 | 20.91 |
| &nbsp;&nbsp;&nbsp;Market price to TBV | 123.7% | 112.1% | 116.2% | 131.8% | 130.7% | 123.7% | 130.7% |
| &nbsp;&nbsp;&nbsp;Market price to trailing 12 month EPS | 10.1 | 9.1 | 10.4 | 12.2 | 12.1 | 10.1 | 12.1 |
| **PERFORMANCE RATIOS:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return on average assets (ROAA) | 1.01% | 1.07% | 1.03% | 0.60% | 1.04% | 0.93% | 0.84% |
| &nbsp;&nbsp;&nbsp;Pre-tax pre-provision ROAA | 1.34% | 1.34% | 1.42% | 0.83% | 1.27% | 1.33% | 1.10% |
| &nbsp;&nbsp;&nbsp;Return on average equity (ROE) | 11.08% | 12.08% | 11.67% | 6.63% | 11.07% | 10.38% | 9.19% |
| &nbsp;&nbsp;&nbsp;Return on average tangible equity | 13.97% | 15.47% | 14.97% | 8.32% | 13.51% | 13.22% | 11.34% |
| &nbsp;&nbsp;&nbsp;Efficiency ratio | 68.09% | 69.00% | 68.90% | 80.00% | 71.09% | 71.33% | 75.33% |
| &nbsp;&nbsp;&nbsp;Earning asset yield | 5.32% | 5.31% | 5.29% | 5.23% | 5.15% | 5.28% | 4.91% |
| &nbsp;&nbsp;&nbsp;Cost of interest bearing liabilities | 2.34% | 2.33% | 2.33% | 2.32% | 2.35% | 2.33% | 2.48% |
| &nbsp;&nbsp;&nbsp;Net interest margin | 3.51% | 3.48% | 3.48% | 3.40% | 3.33% | 3.46% | 3.05% |
| &nbsp;&nbsp;&nbsp;Tax equivalent effect | 0.01% | 0.02% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| &nbsp;&nbsp;&nbsp;Net interest margin, tax equivalent | 3.52% | 3.50% | 3.49% | 3.41% | 3.34% | 3.47% | 3.06% |
| &nbsp;&nbsp;&nbsp;Non interest income/Average assets | 0.96% | 1.12% | 1.35% | 1.14% | 1.30% | 1.14% | 1.25% |
| &nbsp;&nbsp;&nbsp;Non interest expense/Average assets | 2.90% | 3.04% | 3.17% | 3.45% | 3.14% | 3.13% | 3.16% |
| &nbsp;&nbsp;&nbsp;Net noninterest expense/Average assets | -1.94% | -1.92% | -1.82% | -2.31% | -1.84% | -1.99% | -1.91% |
| **ASSET QUALITY RATIOS:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Gross charge-offs | 133 | 11 | 49 | 86 | 195 | 279 | 290 |
| &nbsp;&nbsp;&nbsp;Recoveries | 3 | 9 | 3 | 2 | 13 | 17 | 40 |
| &nbsp;&nbsp;&nbsp;Net charge-offs | 130 | 2 | 46 | 84 | 182 | 262 | 250 |
| &nbsp;&nbsp;&nbsp;Nonperforming loans/Total loans | 0.39% | 0.42% | 0.54% | 0.56% | 0.53% | 0.39% | 0.53% |
| &nbsp;&nbsp;&nbsp;Nonperforming assets/Loans & OREO | 0.40% | 0.44% | 0.56% | 0.56% | 0.53% | 0.40% | 0.53% |
| &nbsp;&nbsp;&nbsp;Nonperforming assets/Total assets | 0.30% | 0.32% | 0.41% | 0.41% | 0.40% | 0.30% | 0.40% |
| &nbsp;&nbsp;&nbsp;Allowance for credit loss/Nonperforming loans | 351.91% | 345.39% | 266.43% | 254.35% | 273.68% | 351.91% | 273.68% |
| &nbsp;&nbsp;&nbsp;Allowance for credit loss/Total loans | 1.36% | 1.44% | 1.43% | 1.41% | 1.44% | 1.36% | 1.44% |
| &nbsp;&nbsp;&nbsp;Net loan charge-offs/Average loans (ann.) | 0.04% | 0.00% | 0.02% | 0.03% | 0.07% | 0.02% | 0.02% |
| &nbsp;&nbsp;&nbsp;Loan loss provision/Net charge-offs | N/M | N/M | N/M | N/M | N/M | N/M | N/M |
| **CAPITAL & LIQUIDITY RATIOS:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loans/ Deposits | 90.31% | 87.96% | 87.59% | 85.61% | 90.81% | 90.31% | 90.81% |
| &nbsp;&nbsp;&nbsp;Equity/ Assets | 9.14% | 9.15% | 8.99% | 8.76% | 9.24% | 9.14% | 9.24% |
| &nbsp;&nbsp;&nbsp;Tangible equity/Tangible assets | 7.40% | 7.35% | 7.17% | 6.96% | 7.66% | 7.40% | 7.66% |
| &nbsp;&nbsp;&nbsp;Common equity tier 1 ratio (Bank) | 11.78% | 12.48% | 12.53% | 12.35% | 13.43% | 11.78% | 13.43% |
| **END OF PERIOD BALANCES** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | 1545367 | 1496263 | 1486301 | 1501002 | 1379517 | 1545367 | 1379517 |
| &nbsp;&nbsp;&nbsp;Total loans | 1180591 | 1110545 | 1094719 | 1088274 | 1046735 | 1180591 | 1046735 |
| &nbsp;&nbsp;&nbsp;Deposits | 1307244 | 1262522 | 1249822 | 1271220 | 1152605 | 1307244 | 1152605 |
| &nbsp;&nbsp;&nbsp;Shareholders equity | 141236 | 136939 | 133648 | 131526 | 127508 | 141236 | 127508 |
| &nbsp;&nbsp;&nbsp;Goodwill and intangibles | 28989 | 29048 | 29107 | 29125 | 23597 | 28989 | 23597 |
| &nbsp;&nbsp;&nbsp;Tangible equity | 112247 | 107891 | 104541 | 102401 | 103911 | 112247 | 103911 |
| &nbsp;&nbsp;&nbsp;Mortgage servicing portfolio | 1479982 | 1470360 | 1456374 | 1432184 | 1427318 | 1479982 | 1427318 |
| &nbsp;&nbsp;&nbsp;Wealth/Brokerage assets under care | 566004 | 563036 | 536836 | 519158 | 547697 | 566004 | 547697 |
| &nbsp;&nbsp;&nbsp;Total assets under care | 3591353 | 3529659 | 3479511 | 3452344 | 3354532 | 3591353 | 3354532 |
| &nbsp;&nbsp;&nbsp;Full-time equivalent employees | 252 | 253 | 256 | 262 | 252 | 252 | 252 |
| &nbsp;&nbsp;&nbsp;Period end common shares outstanding | 6236 | 6268 | 6359 | 6483 | 6494 | 6236 | 6494 |
| &nbsp;&nbsp;&nbsp;Market capitalization (all) | 138883 | 120907 | 121453 | 134982 | 135780 | 138883 | 135780 |
| **AVERAGE BALANCES** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | 1536215 | 1502389 | 1498756 | 1459896 | 1395473 | 1499323 | 1361274 |
| &nbsp;&nbsp;&nbsp;Total earning assets | 1436207 | 1404330 | 1399485 | 1346354 | 1301872 | 1398888 | 1267794 |
| &nbsp;&nbsp;&nbsp;Total loans | 1158567 | 1104175 | 1076328 | 1076328 | 1040580 | 1108531 | 1014375 |
| &nbsp;&nbsp;&nbsp;Deposits | 1299512 | 1270783 | 1270798 | 1227449 | 1163531 | 1267201 | 1130973 |
| &nbsp;&nbsp;&nbsp;Shareholders equity | 140315 | 132866 | 132353 | 131944 | 130647 | 134606 | 124742 |
| &nbsp;&nbsp;&nbsp;Goodwill and intangibles | 29027 | 29077 | 29116 | 26714 | 23605 | 28865 | 23629 |
| &nbsp;&nbsp;&nbsp;Tangible equity | 111288 | 103789 | 103237 | 105230 | 107042 | 105741 | 101113 |
| &nbsp;&nbsp;&nbsp;Average basic shares outstanding | 6252 | 6297 | 6448 | 6481 | 6575 | 6369 | 6660 |
| &nbsp;&nbsp;&nbsp;Average diluted shares outstanding | 6266 | 6311 | 6459 | 6502 | 6599 | 6388 | 6680 |

---

**SB FINANCIAL GROUP, INC. <br> Rate Volume Analysis - (Unaudited)**

**For the Three and Twelve Months Ended Dec. 31, 2025 and 2024**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended Dec. 31, 2025** | **Three Months Ended Dec. 31, 2025** | **Three Months Ended Dec. 31, 2025** | **Three Months Ended Dec. 31, 2024** | **Three Months Ended Dec. 31, 2024** | **Three Months Ended Dec. 31, 2024** |
| <br>**($ in thousands)** | **Average<br> Balance** | **Interest** | **Average<br> Rate** | **Average<br> Balance** | **Interest** | **Average<br> Rate** |
| **Assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Taxable securities | $192092 | $1096 | 2.26% | $205848 | $1321 | 2.55% |
| &nbsp;&nbsp;&nbsp;Overnight Cash | 79464 | 799 | 3.99% | 49141 | 449 | 3.63% |
| &nbsp;&nbsp;&nbsp;Nontaxable securities | 6084 | 36 | 2.35% | 6303 | 35 | 2.21% |
| &nbsp;&nbsp;&nbsp;Loans, net | 1158567 | 17341 | 5.94% | 1040580 | 15042 | 5.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total earning assets | 1436207 | 19272 | 5.32% | 1301872 | 16847 | 5.15% |
| &nbsp;&nbsp;&nbsp;Cash on hand | 5449 |  |  | 4262 |  |  |
| &nbsp;&nbsp;&nbsp;Allowance for loan losses | (16044) |  |  | (15070) |  |  |
| &nbsp;&nbsp;&nbsp;Premises and equipment | 21832 |  |  | 20642 |  |  |
| &nbsp;&nbsp;&nbsp;Other assets | 88771 |  |  | 83767 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $1536215 |  |  | $1395473 |  |  |
| **Liabilities** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Savings, MMDA and interest bearing demand | $764806 | $3468 | 1.80% | $669987 | $2803 | 1.66% |
| &nbsp;&nbsp;&nbsp;Time deposits | 272398 | 2352 | 3.43% | 259093 | 2366 | 3.63% |
| &nbsp;&nbsp;&nbsp;Repurchase agreements & other | 10709 | 22 | 0.82% | 13229 | 41 | 1.23% |
| &nbsp;&nbsp;&nbsp;Advances from Federal Home Loan Bank | 35000 | 370 | 4.19% | 35000 | 369 | 4.19% |
| &nbsp;&nbsp;&nbsp;Trust preferred securities | 10310 | 154 | 5.93% | 10310 | 177 | 6.83% |
| &nbsp;&nbsp;&nbsp;Subordinated debt | 19731 | 194 | 3.90% | 19674 | 194 | 3.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest bearing liabilities | 1112954 | 6560 | 2.34% | 1007293 | 5950 | 2.35% |
| &nbsp;&nbsp;&nbsp;Non interest bearing demand | 262308 | - |  | 234451 | - |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total funding | 1375262 |  | 1.89% | 1241744 |  | 1.91% |
| &nbsp;&nbsp;&nbsp;Other liabilities | 20638 |  |  | 23082 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1395900 |  |  | 1264826 |  |  |
| &nbsp;&nbsp;&nbsp;Equity | 140315 |  |  | 130647 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $1536215 |  |  | $1395473 |  |  |
| &nbsp;&nbsp;&nbsp;Net interest income |  | $12712 |  |  | $10897 |  |
| &nbsp;&nbsp;&nbsp;Net interest income as a percent of average interest-earning assets - GAAP measure | &nbsp;&nbsp;&nbsp;Net interest income as a percent of average interest-earning assets - GAAP measure | &nbsp;&nbsp;&nbsp;Net interest income as a percent of average interest-earning assets - GAAP measure | **3.51%** |  |  | **3.33%** |
| &nbsp;&nbsp;&nbsp;Net interest income as a percent of average interest-earning assets - non GAAP - Computed on a fully tax equivalent (FTE) basis | &nbsp;&nbsp;&nbsp;Net interest income as a percent of average interest-earning assets - non GAAP - Computed on a fully tax equivalent (FTE) basis | &nbsp;&nbsp;&nbsp;Net interest income as a percent of average interest-earning assets - non GAAP - Computed on a fully tax equivalent (FTE) basis | **3.52%** |  |  | **3.34%** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Twelve Months Ended Dec. 31, 2025** | **Twelve Months Ended Dec. 31, 2025** | **Twelve Months Ended Dec. 31, 2025** | **Twelve Months Ended Dec. 31, 2024** | **Twelve Months Ended Dec. 31, 2024** | **Twelve Months Ended Dec. 31, 2024** |
|  | **Average Balance** | **Interest** | **Average<br> Rate** | **Average Balance** | **Interest** | **Average<br> Rate** |
| **Assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Taxable securities | $196831 | $4495 | 2.28% | $247026 | $5490 | 2.22% |
| &nbsp;&nbsp;&nbsp;Overnight Cash | 87283 | 3840 | 4.40% | 43171 | 1354 | 3.14% |
| &nbsp;&nbsp;&nbsp;Nontaxable securities | 6243 | 144 | 2.31% | 6393 | 146 | 2.28% |
| &nbsp;&nbsp;&nbsp;Loans, net | 1108531 | 65441 | 5.90% | 1014375 | 57359 | 5.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total earning assets | 1398888 | 73920 | 5.28% | 1310965 | 64349 | 4.91% |
| &nbsp;&nbsp;&nbsp;Cash on hand | 5390 |  |  | 4388 |  |  |
| &nbsp;&nbsp;&nbsp;Allowance for loan losses | (15631) |  |  | (15536) |  |  |
| &nbsp;&nbsp;&nbsp;Premises and equipment | 21624 |  |  | 20929 |  |  |
| &nbsp;&nbsp;&nbsp;Other assets | 89052 |  |  | 40528 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $1499323 |  |  | $1361274 |  |  |
| **Liabilities** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Savings, MMDA and interest bearing demand | $742153 | $13092 | 1.76% | $643710 | $11073 | 1.72% |
| &nbsp;&nbsp;&nbsp;Time deposits | 273228 | 9398 | 3.44% | 259818 | 9962 | 3.83% |
| &nbsp;&nbsp;&nbsp;Repurchase agreements & Other | 12085 | 95 | 0.79% | 14336 | 154 | 1.07% |
| &nbsp;&nbsp;&nbsp;Advances from Federal Home Loan Bank | 35011 | 1467 | 4.19% | 39092 | 1721 | 4.40% |
| &nbsp;&nbsp;&nbsp;Trust preferred securities | 10310 | 637 | 6.18% | 10310 | 739 | 7.17% |
| &nbsp;&nbsp;&nbsp;Subordinated debt | 19713 | 778 | 3.95% | 19665 | 778 | 3.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest bearing liabilities | 1092500 | 25467 | 2.33% | 986931 | 24427 | 2.48% |
| &nbsp;&nbsp;&nbsp;Non interest bearing demand | 251820 |  | 1.89% | 227445 |  | 2.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total funding | 1344320 |  |  | 1214376 |  |  |
| &nbsp;&nbsp;&nbsp;Other liabilities | 20397 |  |  | 22156 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1364717 |  |  | 1236532 |  |  |
| &nbsp;&nbsp;&nbsp;Equity | 134606 |  |  | 124742 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $1499323 |  |  | $1361274 |  |  |
| &nbsp;&nbsp;&nbsp;Net interest income |  | $48453 |  |  | $39922 |  |
| Net interest income as a percent of average interest-earning assets - GAAP measure | Net interest income as a percent of average interest-earning assets - GAAP measure | Net interest income as a percent of average interest-earning assets - GAAP measure | **3.46%** |  |  | **3.05%** |
| Net interest income as a percent of average interest-earning assets - non GAAP - Computed on a fully tax equivalent (FTE) basis | Net interest income as a percent of average interest-earning assets - non GAAP - Computed on a fully tax equivalent (FTE) basis | Net interest income as a percent of average interest-earning assets - non GAAP - Computed on a fully tax equivalent (FTE) basis | **3.47%** |  |  | **3.06%** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** |
| **Non-GAAP reconciliation**<br>**($ in thousands, except per share & ratios)** | **Dec. 31, 2025** | **Dec. 31, 2024** | **Dec. 31, 2025** | **Dec. 31, 2024** |
| Total Operating Revenue | $16420 | $14454 | $65560 | $56939 |
| Adjustment to (deduct)/add OMSR recapture/impairment \* | 157 | (288) | 289 | (42) |
| Adjusted Total Operating Revenue | 16577 | 14166 | 65849 | 56897 |
| Total Operating Expense | 11239 | 11003 | 46999 | 42959 |
| Adjustment for merger expenses | - | - | (726) | - |
| Adjusted Total Operating Expense | 11239 | 11003 | 46273 | 42959 |
| Income before Income Taxes | 4983 | 4527 | 17255 | 13856 |
| Adjustment for OMSR\*/Merger Expenses | 157 | (288) | 1015 | (42) |
| Adjusted Income before Income Taxes | 5140 | 4239 | 18270 | 13814 |
| Provision for Income Taxes | 1065 | 892 | 3281 | 2386 |
| Adjustment for OMSR/Merger Expenses \*\* | 33 | (60) | 213 | (9) |
| Adjusted Provision for Income Taxes | 1098 | 832 | 3494 | 2377 |
| Net Income | 3918 | 3635 | 13974 | 11470 |
| Adjustment for OMSR\*/Merger Expenses | 124 | (228) | 802 | (33) |
| Adjusted Net Income | 4042 | 3407 | 14776 | 11437 |
| Diluted Earnings per Share | 0.63 | 0.55 | 2.19 | 1.72 |
| Adjustment for OMSR\*/Merger Expenses | 0.02 | (0.03) | 0.13 | (0.00) |
| Adjusted Diluted Earnings per Share | $0.65 | $0.52 | $2.31 | $1.71 |
| **Return on Average Assets** | **1.01%** | **1.04%** | **0.93%** | **0.84%** |
| Adjustment for OMSR\*/Merger Expenses | 0.01% | -0.02% | 0.05% | 0.00% |
| Adjusted Return on Average Assets | 1.02% | 1.02% | 0.98% | 0.84% |

---

\* valuation adjustment to the Company's mortgage servicing rights

\*\* tax effect is calculated using a 21% statutory federal corporate income tax rate