Sb Financial Group, Inc. · NASDAQ:SBFG
Sb Financial — Shareholder Meeting (April 2026)
37 slides from Sb Financial's shareholder meeting presentation, Apr 22, 2026
Slide 1: 2025 Business Plan Overview
2025 Business Plan Overview 2026 Theme: Leading with Vision; Growing with Purpose
Slide 2: 2025 Highlights: Leading with Vision, Growing with Purpose
2025 Highlights Leading with Vision, Growing with Purpose • Net income of $14.0 million or $2.19/share • Deposit growth of $155 million or 13.4% • Loan growth of $134 million or 12.8% • ROAA of 0.93% , ROAE of 10.38% ROA TCE of 13.22% • $278 million Residential Real Estate loans • Grew Wealth Manage
Slide 3: 2025 Highlights: Leading with Vision, Growing with Purpose
• Adjusted Tangible Book Value expanded to $21.44 , up $2.00 /share or 12.5% • Returned Capital to our Stockholders • Market Cap rose $3 Million to $139 Million • Operating Revenue expanded by $8.6 Million • Marblehead Bank integrated into State Bank • Expanded our reach into new markets 2025 Highli
Slide 4: EPS and ROAA versus peer group
2.75 2.50 2.25 2.00 1.75 1.50 1.25 1.00 0.75 0.50 0.25 0.00 0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2020 2021 2022 2023 Peer Group Top Quartile* (L) 2024 2025 SBFG - EPS (R) EPS ($/Share) ROAA (%) SBFG (L) * Peer group consists of S&P 2025 data for 65 publicly traded bank holding companies in the U.
Slide 5: Unique Qualities
RRE $2.0M / 14% Retail/PCG $1.7M / 12% Peak $0.6M / 4% Commercial/SBA $8.9M / 64% WM $0.8M / 6% CONTRIBUTIONS 2025 ASSETS UNDER MANAGEMENT $3.6 BILLION NET INCOME 2025 NET INCOME $ 14.0 MILLION COMPRISED OF: • $1.6B Commercial Bank • $1.5B Residential Sold Portfolio • $566M Wealth Management • EPS $
Slide 6: Key Initiatives
Key Initiatives Become a Russell 2000, High - Performing Financial Services Conglomerate Increase profitability through ongoing diversification of revenue streams Strengthen penetration in all markets served Expand product service utilization by new and existing customers Deliver gains in operationa
Slide 7: Key Initiatives
Key Initiatives Become a Russell 2000, High - Performing Financial Services Conglomerate Increase profitability through ongoing diversification of revenue streams Strengthen penetration in all markets served Expand product service utilization by new and existing customers Deliver gains in operationa
Slide 8: Increase Profitability Through Diversification of Revenue Streams
Increase Profitability THROUGH DIVERSIFICATION OF REVENUE STREAMS $0 $5 $10 $20 $0 $15 $30 $45 $60 $75 2020 2021 2022 2023 2024 2025 NET INCOME REVENUE (MIL) TOTAL REVENUE/NET INCOME Title Revenue Other SBA $15 Mortgage Service Charges Wealth Management Net Interest Margin Net Income 45.6% $66.1 Fee
Slide 9: Non-interest income as percentage of revenue versus peers
* Peer group consists of S&P Capital 2025 data for 65 publicly traded bank holding companies in the U.S. on a major exchange with assets between $1.0 billion and $2.77 billion 50.0% 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 2020 2021 SBFG 2022 Peer Median* 2025 PERCENTAGE NON - INTER
Slide 10: Mortgage volume and gain on sale
$694 $600 $313 $216 $261 $278 $0 $100 $200 $300 $400 $500 $600 $700 $800 $0 $5 $10 $15 $20 $25 $30 2020 NW Ohio 2021 Columbus 2022 Findlay 2023 Indy MORTGAGE VOLUME (MIL) MORTGAGE GAIN ON SALE (MIL) MORTGAGE GAIN ON SALE/VOLUME 2024 2025 Total $ Originations Cincinnati Increase Profitability THRO UG
Slide 11: Wealth Management AUM and revenue growth
Increase Profitability $558 $618 $507 $502 $548 $565 $3.3 $3.8 $3.7 $3.5 $3.5 $3.5 $3.0 $3.1 $3.2 $3.3 $3.4 $3.5 $3.6 $3.7 $3.8 $3.9 $0 $100 $200 $300 $400 $500 $600 $700 2020 2021 2022 AUM (L) 2023 Revenue (R) 2024 2025 Wealth Management Revenue ($M) Wealth Management AUM ($M) THROUGH DIVERSIFICATI
Slide 12: Net interest income, margin and deposit costs
Increase Profitability $35,930 $37,884 $39,399 $39,273 $39,922 $48,453 3.35% 3.06% 3.22% 3.16% 3.16% 3.47% 3.60% 3.50% 3.40% 3.30% 3.20% 3.10% 3.00% 2.90% 2.80% $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 2020 2021 2025 Net Interest Margin Net Interest Income (000’s) Net Interest Income and M
Slide 13: Peak Title Agency revenue and net income
Increase Profitability THROUGH DIVERSIFICATION OF REVENUE STREAMS $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 2020 2025 Net Income Revenue PEAK TITLE AGENCY 2021 2022 Revenue (L) 2023 2024 Net Income (R) 13
Slide 14: Key Initiatives
Key Initiatives Become a Russell 2000, High - Performing Financial Services Conglomerate Increase profitability through ongoing diversification of revenue streams Strengthen penetration in all markets served Expand product service utilization by new and existing customers Deliver gains in operationa
Slide 15: Marblehead Bank Acquisition
Marblehead Bank Acquisition 15
Slide 16: Proven Growth History
$1,049 $1,113 $1,087 $1,070 $1,153 $1,307 $0 $500 $1,000 $1,500 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y $14.9 $18.3 $12.5 $12.1 $11.5 $14.0 $0 $7 $14 $21 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y $873 $830 $962 $1,000 $1,047 $1,181 $0 $500 $1,000 $1,500 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y $1,258 $1,331 $1,336
Slide 17: Strengthen Market Penetration: Loan Portfolio and Total Assets
Loans (Net) 75% Securities 13% Cash & Due 5% Other 7% Commercial RE 50% HELOC 6% 1 - 4 Family 26% Agriculture 6% C&I 10% Consumer & Other 2% LOAN PORTFOLIO = $1.18 BILLION Strengthen Market Penetration IN ALL MARKETS SERVED Loan to Deposit December 2025 – 90% Top Quartile Performance TOTAL ASSETS =
Slide 18: Strengthen Market Penetration: Deposit Portfolio and Funding
Borrowings 5% Deposits 85% Capital 9% Other 1% Time 21% MMDA 21% Savings 23% Interest Bearing 16% Non - Interest 19% DEPOSIT PORTFOLIO = $1.31 BILLION Strengthen Market Penetration IN ALL MARKETS SERVED Transactional deposits = 79% of total deposits Average cost of deposits = 178 bps* TOTAL FUNDING
Slide 19: Strengthen Market Penetration in All Markets Served
Strengthen Market Penetration IN ALL MARKETS SERVED $824,598 $956,541 $895,785 $814,696 $893,388 $1,033,944 $229,549 $156,504 $140,880 $255,509 $259,217 $273,300 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 2025 (000’s) Deposits 2020 2021 2022 Transaction Deposits 2023 202
Slide 20: Key Initiatives
Key Initiatives Become a Russell 2000, High - Performing Financial Services Conglomerate Increase profitability through ongoing diversification of revenue streams Strengthen penetration in all markets served Expand product service utilization by new and existing customers Deliver gains in operationa
Slide 21: Expand Product Utilization: Strong Market Leadership
BOWLING GREEN, TOLEDO & LAKE ERIE FULTON, WILLIAMS COUNTIES & ANGOLA Randy L. Moyer Tyson R. Moss Shaun N. Mack FINDLAY DEFIANCE, PAULDING & NAPOLEON Paul R. Fultz Stefan R. Hartman FORT WAYNE COLUMBUS Adam V. Graessle Expand Product Utilization 21 BY NEW AND EXISTING CUSTOMERS STRONG MARKET LEADERS
Slide 22: Expand Product Utilization: Online Banking Users
Expand Product Utilization 2,109 2,322 2,525 2,805 3,347 3,925 0 1,000 4,000 3,000 2,000 2020 2024 2025 BY NEW AND EXISTING CUSTOMERS Business Online Banking Users 16,265 15,404 15,030 14,410 14,717 13,970 17,000 16,000 15,000 14,000 13,000 12,000 2020 2021 2022 2023 2024 2025 2021 2022 2023 Retail
Slide 23: Electronic versus in-office transactions
800 700 600 500 400 300 200 100 0 20.0 19.0 18.0 17.0 16.0 15.0 14.0 13.0 12.0 11.0 10.0 2021 2022 2023 2024 2025 IN - OFFICE TRANSACTIONS PER YEAR (000’s) ELECTRONIC TRANSACTIONS PER YEAR (Million) ELECTRONIC TRANSACTIONS & IN - OFFICE TRANSACTIONS Electronic Transactions (L) In - Office Transactio
Slide 24: Referrals and new business
1,636 1,312 1,409 1,364 1,514 1,395 811 607 737 761 890 734 $99.5 $79.3 $81.6 $85.3 $92.2 $92.4 $0 $20 $40 $60 $80 $100 $120 0 700 1,400 2,100 2020 2021 2022 2023 2024 2025 New Business (R) NEW BUSINESS (MIL) REFERRALS REFERRALS & NEW BUSINESS Gross (L) Closed (L) Expand Product Utilization BY NEW A
Slide 25: Key Initiatives
Key Initiatives Become a Russell 2000, High - Performing Financial Services Conglomerate Increase profitability through ongoing diversification of revenue streams Strengthen penetration in all markets served Expand product service utilization by new and existing customers Deliver gains in operationa
Slide 26: Liquidity versus insured deposits
$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 2020 2021 2022 Insured Deposits (L) 2025 CONTINGENCY LIQUIDITY ($000s) (Cash & FHLB Capacity) INSURED DEPOSITS ($000s) LIQUIDITY v
Slide 27: Mortgage servicing portfolio
Deliver Gains in Operation Excellence $1,299,697 $1,362,961 $1,352,016 $1,366,667 $1,427,318 $1,479,982 8,543 8,614 8,514 8,549 8,750 8,886 0 1,000 7,000 6,000 5,000 4,000 3,000 2,000 8,000 9,000 10,000 $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 2023 2024 2025 Number of Loans Ser
Slide 28: Total risk based capital
Deliver Gains in Operation Excellence 14.2% 15.2% 14.7% 14.7% 14.7% 13.0% 0.0 9.0 6.0 3.0 12.0 15.0 18.0 2020 2021 2022 Total Risk Based Capital 2025 RATIO (%) TOTAL RISK BASED CAPITAL 2023 2024 Well Capitalized 63% above well capitalized minimum 28
Slide 29: TBV and EPS performance
$10.39 $11.59 $13.27 $15.39 $15.23 $16.30 $17.60 $17.95 $19.42 $20.66 $21.44 $1.19 $1.38 $1.51 $1.51 $1.96 $2.56 $1.77 $1.75 $1.72 $2.19 $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $0.00 $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 $14.00 $16.00 $18.00 $20.00 $22.00 Earnings Per Share Tangible Book Value 201
Slide 30: Dividend payout ratio and average annual dividend
Deliver Gains in Operation Excellence Dividend Payout Ratio 20.41% 17.19% 27.12% 29.71% 32.56% 27.37% 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 Percent 2020 2021 2022 2023 2024 2025 Payout Ratio Average Annual Dividend 0.20 0.24 0.28 0.33 0.36 0.40 0.44 0.48 0.52 0.56 0.60 0.00 0.10 0.20 0.30 0.
Slide 31: Key Initiatives
Key Initiatives Become a Russell 2000, High - Performing Financial Services Conglomerate Increase profitability through ongoing diversification of revenue streams Strengthen penetration in all markets served Expand product service utilization by new and existing customers Deliver gains in operationa
Slide 32: Sustain Asset Quality: Non-performing assets / total assets
Sustain Asset Quality * Peer group consists of S&P Capital 2025 data for 65 publicly traded bank holding companies in the U.S. on a major exchange with assets between $1.0 billion and $2.77 billion. 0.58% 0.49% 0.38% 0.25% 0.40% 0.30% 0.49% 0.41% 0.40% 0.23% 0.28% 0.41% 0.22% 0.19% 0.20% 0.13% 0.11%
Slide 33: Sustain Asset Quality: NCOs / average loans
Sustain Asset Quality * Peer group consists of S&P Capital 2025 data for 65 publicly traded bank holding companies in the U.S. on a major exchange with assets between $1.0 billion and $2.77 billion. - 0.05% 0.00% 0.05% 0.10% 2020 2021 2024 2025 NCOs/ AVERAGE LOANS SBFG 2022 2023 Peer Median* Top Qua
Slide 34: Reserve to non-performing loans
0 600 500 400 300 200 100 2020 2021 2024 2025 PERCENTAGE RESERVE TO NON - PERFORMING LOANS SBFG 2022 Median 2023 Top Quartile Sus tain Asset Quality * Peer group consists of S&P Capital 2025 data for 65 publicly traded bank holding companies in the U.S. on a major exchange with assets between $1.0 b
Slide 35: Sustain Asset Quality: Loan loss reserve
Sustain Asset Quality 1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 2020 2021 2022 2023 2024 2025 Coverage (%) Reserves (Mil $) LOAN LOSS RESERVE Reserves (L) Coverage (R) 75th Percentile (R) $1.4M Added 1/1/23 – CECL Adoption * Peer group consists of
Slide 36: Sustain Asset Quality: Criticized loans
Sustain Asset Quality 2.06% 2.42% 1.30% 0.90% 0.62% 0.49% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% $0 $5,000 $10,000 $15,000 $20,000 $25,000 2020 2021 Special Mention (L) 2022 2023 Classified (L) 2024 Criticized (R) 2025 (000’s) Criticized Loans $17,995 $20,106 $12,543 $9,030 $6,439 $5,744 36
Slide 37: Key Initiatives
Key Initiatives Become a Russell 2000, High - Performing Financial Services Conglomerate Increase profitability through ongoing diversification of revenue streams Strengthen penetration in all markets served Expand product service utilization by new and existing customers Deliver gains in operationa
SB Financial Group — Shareholder Meeting (April 2026) on 6ix