SB Financial Group, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Net Charge Offs for the Fourth Quarter of 2013
January 21, 2014 at 04:15 pm EST
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SB Financial Group, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total interest income of USD 5.935 million compared to USD 6.349 million a year ago. Net interest income was USD 4.996 million compared to USD 5.155 million a year ago. Income before income tax expense was USD 1.746 million compared to USD 2.191 million a year ago. Net income was USD 1.224 million compared to USD 1.524 million a year ago. Diluted earnings per share were USD 0.25 compared to USD 0.31 a year ago. Book value per common share was USD 11.55 compared to USD 10.96 a year ago. Tangible book value per common share was USD 7.98 compared to USD 7.28 a year ago. Return on average assets was 0.76% compared to 0.95% a year ago. Return on average common equity was 8.75% compared to 11.64% a year ago. Return on average tangible common equity was 12.71% compared to 17.73% a year ago.
For the year, the company reported total interest income of USD 24.848 million compared to USD 26.122 million a year ago. Net interest income was USD 20.813 million compared to USD 20.732 million a year ago. Income before income tax expense was USD 7.448 million compared to USD 6.743 million a year ago. Net income was USD 5.205 million compared to USD 4.814 million a year ago. Diluted earnings per share were USD 1.07 compared to USD 0.99 a year ago. Book value per common share was USD 11.55 compared to USD 10.96 a year ago. Tangible book value per common share was USD 7.98 compared to USD 7.28 a year ago. Return on average assets was 0.81% compared to 0.75% a year ago. Return on average common equity was 9.52% compared to 9.57% a year ago. Return on average tangible common equity was 14.03% compared to 15.00% a year ago.
Net charge offs for the fourth quarter of 2013 was USD 0.156 million compared to USD 0.285 million a year ago. Net loan charge-offs was 0.13% compared to 0.25% a year ago.
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.
SB Financial Group, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Net Charge Offs for the Fourth Quarter of 2013
SB FINANCIAL GROUP, INC. 
