SB Financial Group, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017
January 26, 2018 at 02:55 am IST
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SB Financial Group, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest income of $8,762,000 as compared to $7,512,000 for the same period last year. Net interest income was $7,654,000 as compared to $6,647,000 for the same period last year. Net interest income after provision for loan losses was $7,454,000 as compared to $6,147,000 for the same period last year. Income before income tax expense was $3,440,000 as compared to $3,416,000 for the same period last year. Net income was $4,032,000 as compared to $2,317,000 for the same period last year. Net income available to common shares was $3,788,000 as compared to $2,073,000 for the same period last year. Diluted earnings per common share was $0.64 as compared to $0.37 for the same period last year. Return on average assets was 1.83% as compared to 1.14% for the same period last year.
For the year, the company reported total interest income of $29,792,000 as compared to $26,846,000 for the same period last year. Net interest income was $28,386,000 as compared to $25,853,000 for the same period last year. Net interest income after provision for loan losses was $27,986,000 as compared to $25,103,000 for the same period last year. Income before income tax expense was $13,625,000 as compared to $12,901,000 for the same period last year. Net income was $11,065,000 as compared to $8,784,000 for the same period last year. Net income available to common shares was $10,090,000 as compared to $7,809,000 for the same period last year. Diluted earnings per common share was $1.74 as compared to $1.38 for the same period last year. Return on average assets was 1.29% as compared to 1.11% for the same period last year.
SB Financial Group, Inc. is a financial holding company. Through its direct and indirect subsidiaries, the Company is engaged in a various financial activities, including commercial banking, and wealth management services. The Company is primarily engaged in providing a full range of banking and wealth management services to individual and corporate customers primarily located in Ohio, Indiana, and Michigan. Its principal activity is the ownership and management of its wholly owned subsidiaries, The State Bank and Trust Company, SBFG Title, LLC, SB Captive, Inc., RFCBC, Inc., Rurbanc Data Services, Inc., Rurban Statutory Trust II, and SBFG Mortgage, LLC. The State Bank and Trust Company offers a full range of commercial banking services, including checking accounts, savings accounts, money market accounts and time certificates of deposit, automatic teller machines, commercial, consumer, agricultural and residential mortgage loans, commercial leasing, and various other services.