SB Financial Group Announces Third Quarter 2025 Results

DEFIANCE, Ohio, Oct. 30, 2025 (GLOBE NEWSWIRE) -- 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 third quarter ended September 30, 2025.

Third Quarter 2025 Highlights compared to the third quarter of the prior year include:

GAAP net income and Diluted Earnings per Share (“DEPS”) were $4.0 million, or $0.64 per DEPS, well above the $2.4 million, or $0.35 per DEPS in the prior year quarter. Net Income, adjusted for Originated Mortgage Servicing Rights (“OMSR”), was $4.3 million, up 57.4 percent compared to $2.7 million for the prior-year period. Adjusted DEPS of $0.68 was also up 65.3 percent, from the prior year.Net interest income of $12.3 million increased by 21.1 percent from $10.2 million reported in the prior-year quarter.Loan growth of $80.6 million, or 7.8 percent from the prior-year quarter, with growth from the linked quarter of $15.8 million, or 1.4 percent. This marks six consecutive quarters of sequential loan growth. Loan growth adjusted for the Marblehead acquisition was $62.7 and $15.9 million, from the prior year and linked quarters, respectively.Deposit growth of $103 million, or 8.9 percent from the prior-year quarter, with an increase from the linked quarter of $12.7 million, or 1.0 percent. Adjusted for the Marblehead acquisition, total deposits increased $52.1 million from the prior year.Tangible book value (“TBV”) per share ended the quarter at $17.21 up $0.72 per share or 4.4 percent from the prior year quarter.

Nine months ended September 30, 2025 Highlights compared to the same period of the prior year:

Mortgage Banking Revenue increased to $5.1 million, up by 7.8 percent from $4.7 million.Net interest income rose to $35.7 million, representing a year-over-year improvement of 23.1 percent from $29.0 million for the nine months ending September 30, 2024.Total interest expense came in at $18.9 million, up slightly by 2.3 percent from $18.5 million in the prior year period.

Earnings HighlightsThree Months Ended Nine Months Ended($ in thousands, except per share & ratios)Sep. 2025Sep. 2024% Change Sep. 2025Sep. 2024% ChangeOperating revenue$16,578 $14,309 15.9% $49,140 $41,485 18.5%Interest income 18,809 16,548 13.7% 54,648 47,502 15.0%Interest expense 6,475 6,362 1.8% 18,907 18,477 2.3%Net interest income 12,334 10,186 21.1% 35,741 29,025 23.1%Provision for credit losses 124 200 -38.0% 1,108 200 454.0%Noninterest income 4,244 4,123 2.9% 13,399 12,460 7.5%Noninterest expense 11,498 11,003 4.5% 35,760 31,956 11.9%Net income 4,046 2,354 71.9% 10,056 7,835 28.3%Adjusted Earnings per diluted share 0.68 0.41 65.9% 1.67 1.20 39.2%Earnings per diluted share 0.64 0.35 82.9% 1.56 1.17 33.3%Adjusted Return on Avg. Assets 1.13% 0.79%43.0% 0.96% 0.79%21.5%Return on average assets 1.07% 0.68%57.4% 0.90% 0.77%16.9%Adjusted Return on Avg. Equity 12.79% 8.42%51.9% 10.84% 8.62%25.8%Return on average equity 12.08% 7.28%65.9% 10.15% 8.41%20.7%

“Net income for the third quarter was $4.0 million, a 71.9 percent increase from the prior-year quarter, with the GAAP DEPS of $0.64 up 82.9 percent from the prior year,” said Mark A. Klein, Chairman, President, and CEO. This marks our 59th consecutive quarter of profitability, which also included the second full quarter of contribution from the Marblehead acquisition, which strengthened our liquidity profile and further extended our market presence in Northern Ohio.

Net interest income for the quarter grew by $2.1 million to $12.3 million compared to the previous year, driven by sustained loan growth and stabilization of funding costs. Total loans increased by $80.6 million, compared to the prior year, and by $15.8 million from the linked quarter. On an organic basis, excluding the Marblehead acquisition, loan balances increased $62.7 million from the prior year. Deposits rose $103.0 million, or 8.9 percent, to $1.26 billion, reflecting both acquired balances and solid client retention. Excluding acquired deposits, organic growth totaled $52.1 million, underscoring the strength of our client relationships and the resiliency of our franchise.”

RESULTS OF OPERATIONS

In the third quarter of 2025, total operating revenue increased to $16.6 million, a 15.9 percent rise from $14.3 million in the prior year and a 3.5 percent decrease from the linked quarter. The year-over-year increase reflected higher net interest income and continued growth in non-interest income. Net interest income reached $12.3 million, a strong 21 percent year-over-year increase, reflecting higher interest income on loans, which rose by $1.9 million to $16.6 million along with a marginal increase in interest expense of $113,000 to $6.5 million. Deposit costs increased by 2.7 percent to $5.7 million but were partially offset by decreases in interest expenses on other funding sources, resulting in a 1.8 percent increase in total interest expense compared to the prior year quarter. As a result, the net interest margin expanded by 32 basis points year-over-year to 3.48 percent, reflecting disciplined balance sheet management and moderation in funding cost pressures. Noninterest income for the quarter increased by 2.9 percent year-over-year to $4.2 million due primarily to improvements in wealth management fees, mortgage loan servicing fees, title insurance, other non-interest income fees as well as modest increases in customer service fees and gain on sale of mortgage loans. These fees were partially offset by decreases in gain on sales of non-mortgage loans and loss on sale of assets. “We remain focused on executing a balanced growth strategy, maintaining diversified sources of revenue, and exercising disciplined expense management,” said Mr. Klein.

Mortgage Loan Business

Net mortgage banking revenue for the quarter reached $1.5 million, up $136,000 from the prior-year quarter. Loan servicing fees added $914,000 to revenue, reflecting an increase of $40,000 from the prior-year quarter. The OMSR net valuation adjustment for the third quarter of 2025 was a negative $301,000 compared to a negative $465,000 in the third quarter of 2024.

Mortgage Banking($ in thousands)Sep. 2025Jun. 2025Mar. 2025Dec. 2024Sep. 2024 Prior Year GrowthMortgage originations$67,609 $97,901 $39,775 $72,534 $70,715 $(3,106)Mortgage sales 66,408 74,313 39,279 62,301 61,271 5,137 Mortgage servicing portfolio 1,470,360 1,456,374 1,432,184 1,427,318 1,406,273 64,087 Mortgage servicing rights 15,347 15,458 14,965 14,868 14,357 990 Revenue Loan servicing fees 914 904 894 886 874 40 OMSR amortization (455) (469) (294) (358) (370) (85)Net administrative fees 459 435 600 528 504 (45)OMSR valuation adjustment (301) 159 11 288 (465) 164 Net loan servicing fees 158 594 611 816 39 119 Gain on sale of mortgages 1,328 1,565 849 1,196 1,311 17 Mortgage banking revenue, net$1,486 $2,159 $1,460 $2,012 $1,350 $136

Noninterest Income and Noninterest Expense

"Noninterest income for the third quarter of 2025 totaled $4.2 million, up $121,000 or 2.9 percent from the prior-year quarter, primarily due to increased mortgage loan servicing fees and other noninterest income fees, underscoring the continued strength of our fee-based businesses. Compared to the prior-year quarter, mortgage loan services fees, improved by $119,000 year over year, and other noninterest income fees added $91,000, reflecting the benefits of our diversified revenue base,” Mr. Klein noted.

Noninterest Income/Noninterest Expense ($ in thousands, except ratios) Sep. 2025Jun. 2025Mar. 2025Dec. 2024Sep. 2024 Prior Year GrowthNoninterest Income (NII) $4,244 $5,048 $4,107 $4,557 $4,123 $121 NII / Total Revenue 25.6% 29.4% 26.7% 29.5% 28.8% -3.2%NII / Average Assets 1.1% 1.4% 1.1% 1.3% 1.2% -0.1%Total Revenue Growth 15.9% 22.3% 17.2% 2.2% 4.5% 11.4% Noninterest Expense (NIE) $11,498 $11,852 $12,410 $11,003 $11,003 $495 Efficiency Ratio 69.0% 68.9% 80.0% 71.1% 76.8% -7.8%NIE / Average Assets 3.0% 3.2% 3.4% 3.2% 3.2% -0.2%Net Noninterest Expense/Avg. Assets -1.9% -1.8% -2.3% -1.8% -2.0% 0.1%Total Expense Growth 4.5% 11.1% 20.7% 6.1% 5.0% -0.5%

Noninterest expense for the third quarter of 2025 was $11.5 million, up 4.5 percent from the prior year, driven primarily by increased salary and benefit expenses, equipment expenses and professional fees.

“Our efficiency ratio in the third quarter of 2025 was 69.0 percent highlighting our commitment to disciplined expense management and balanced revenue growth,” stated Mr. Klein.

Balance Sheet

As of September 30, 2025, SB Financial reported total assets of $1.50 billion, higher than the linked quarter and the previous year. Year-over-year growth was primarily driven by a robust increase in the loan portfolio, which reached $1.11 billion, marking an $80.6 million or 7.8 percent increase year over year. Loan growth also included $18.0 million in loans added with the completion of the Marblehead acquisition. Cash increased by $35.7 million from the prior year, driven by investment portfolio runoff and deposit growth. Key metrics this quarter included our loan-to-deposit ratio of 88 percent and our loan to asset ratio of 74 percent, both of which were in the upper range of our target levels.

Total deposits increased to $1.26 billion, growing $103.0 million or 8.9 percent year over year, including $50.9 million in low-cost deposits from the acquisition and $52.1 million in organic deposit growth reflecting SB Financial’s successful efforts in deposit gathering and customer engagement within dynamic markets. Shareholders’ equity ended the quarter at $137.0 million, representing a $4.1 million increase from the prior year. The increase highlights management’s consistent efforts to deliver sustainable growth and enhance shareholder returns.

During the third quarter, SB Financial repurchased approximately 101,000 shares, a slight decrease from the prior quarter, reflecting management’s disciplined and opportunistic approach to capital deployment when the share price trades below the target range. This activity demonstrates the Company’s balanced approach to capital management, prioritizing shareholder returns through dividends and share repurchases while maintaining sufficient capital to fund future growth.

"As we progress through the fourth quarter of 2025, the Company’s solid balance sheet and prudent capital management provide a strong foundation to navigate the current environment and support future growth," said Mr. Klein. "We were pleased to achieve our sixth consecutive quarter of sequential loan growth, supported by sound credit quality and consistent execution across our markets, with total loan balances rising $80.6 million from the prior year, including $62.7 million of organic loan growth. This continued trajectory reflects the depth of our client relationships, the resiliency of our business model, and the disciplined manner in which we deploy capital across our markets. Our strong asset quality metrics and top-tier reserve coverage remain central to our financial strength and position us well to navigate the current operating environment. As we look ahead, we remain focused on driving organic growth, maintaining disciplined expense management, and delivering long-term value for our shareholders.”

Loan Balances ($ in thousands, except ratios)Sep. 2025Jun. 2025Mar. 2025Dec. 2024Sep. 2024Annual
GrowthCommercial$117,581 $118,984 $125,878 $124,764 $123,821 $(6,240)% of Total 10.6% 10.9% 11.6% 11.9% 12.0% -5.0%Commercial RE 535,307 525,671 509,518 479,573 459,449 75,858 % of Total 48.2% 48.0% 46.8% 45.8% 44.6% 16.5%Agriculture 65,150 60,924 61,443 64,680 64,887 263 % of Total 5.9% 5.6% 5.6% 6.2% 6.3% 0.4%Residential RE 309,140 310,126 319,307 308,378 314,010 (4,870)% of Total 27.8% 28.3% 29.3% 29.5% 30.5% -1.6%Consumer & Other 83,367 79,014 72,128 69,340 67,788 15,579 % of Total 7.5% 7.2% 6.6% 6.6% 6.6% 23.0%Total Loans$1,110,545 $1,094,719 $1,088,274 $1,046,735 $1,029,955 $80,590 Total Growth Percentage 7.8% Deposit Balances ($ in thousands, except ratios)Sep. 2025Jun. 2025Mar. 2025Dec. 2024Sep. 2024Annual
GrowthNon-Int DDA$246,725 $241,245 $240,446 $232,155 $222,425 $24,300 % of Total 19.5% 19.3% 18.9% 20.1% 19.2% 10.9%Interest DDA 194,420 205,581 208,583 201,085 202,097 (7,677)% of Total 15.4% 16.4% 16.4% 17.4% 17.4% -3.8%Savings 290,111 282,311 285,902 237,987 241,761 48,350 % of Total 23.0% 22.6% 22.5% 20.6% 20.8% 20.0%Money Market 261,953 249,536 257,013 222,161 228,182 33,771 % of Total 20.7% 20.0% 20.2% 19.3% 19.7% 14.8%Time Deposits 269,313 271,149 279,276 259,217 265,068 4,245 % of Total 21.3% 21.7% 22.0% 22.5% 22.9% 1.6%Total Deposits$1,262,522 $1,249,822 $1,271,220 $1,152,605 $1,159,533 $102,989 Total Growth Percentage 8.9%

Asset Quality

As of September 30, 2025, SB Financial continued to focus on strong asset quality metrics. Nonperforming assets totaled $4.9 million, representing 0.32 percent of total assets, a decrease of $665,000 compared to $5.5 million or 0.40 percent of total assets reported in the prior year, and a continued improvement from linked quarter balance of $6.2 million, representing 0.41 percent of total assets.

The allowance for credit losses remained strong at 1.44 percent of total loans, providing 345.4 percent coverage of non-performing loans, a level consistent with the linked quarter and reflective of our conservative approach to risk management. The net loan charge-offs to average loans ratio remained modest at 0 basis points, declining from 2 basis points in the linked quarter and 1 basis point recorded in the prior year. These metrics reflect our continued focus on disciplined credit practices and effective collateral management.

"Our asset quality metrics continue to reflect the strength of our portfolio and disciplined approach to risk management”, stated Mr. Klein. “We were especially pleased with the improvement in non-performing loans, which were the result of our determined efforts to resolve several longer-term problem credits. We remain focused on maintaining conservative credit practices while supporting prudent growth and delivering long-term value for our shareholders.”

Nonperforming Assets Annual
Change($ in thousands, except ratios)Sep. 2025Jun. 2025Mar. 2025Dec. 2024Sep. 2024Commercial & Agriculture$2,243 $3,274 $3,418 $2,927 $2,899 $(656)% of Total Com./Ag. loans 1.23% 1.82% 1.82% 1.55% 1.54% -22.6%Commercial RE 778 816 798 807 813 (35)% of Total CRE loans 0.15% 0.16% 0.16% 0.17% 0.18% -4.3%Residential RE 1,400 1,577 1,608 1,539 1,536 (136)% of Total Res. RE loans 0.45% 0.51% 0.50% 0.50% 0.49% -8.9%Consumer & Other 195 205 227 243 270 (75)% of Total Con./Oth. loans 0.23% 0.26% 0.31% 0.35% 0.40% -27.8%Total Nonaccruing Loans 4,616 5,872 6,051 5,516 5,518 (902)% of Total loans 0.42% 0.54% 0.56% 0.53% 0.54% -16.3%Foreclosed Assets and Other Assets 237 284 73 - - 237 Total Change (%) N/MTotal Nonperforming Assets$4,853 $6,156 $6,124 $5,516 $5,518 $(665)% of Total assets 0.32% 0.41% 0.41% 0.40% 0.40% -12.05%

Webcast and Conference Call

The Company will hold the third quarter 2025 earnings conference call and webcast on October 31, 2025, at 11:00 a.m. EDT. 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 26 offices: 24 in ten Ohio counties and two in Northeast, Indiana, and 26 ATMs. State Bank has four loan production offices located throughout the Tri-State region of Ohio and Indiana. 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
[email protected]

Anthony V. Cosentino
Executive Vice President and
Chief Financial Officer
[email protected]

SB FINANCIAL GROUP, INC. CONSOLIDATED BALANCE SHEETS - (Unaudited) September June March December September ($ in thousands) 2025 2025 2025 2024 2024 ASSETS Cash and due from banks $85,025 $79,463 $105,145 $25,928 $49,348 Interest bearing time deposits 2,025 1,565 1,565 1,565 1,706 Available-for-sale securities 193,190 195,955 199,721 201,587 211,511 Loans held for sale 4,736 12,774 4,286 6,770 8,927 Loans, net of unearned income 1,110,545 1,094,719 1,088,274 1,046,735 1,029,955 Allowance for credit losses (15,943) (15,645) (15,391) (15,096) (15,278) Premises and equipment, net 21,764 21,857 21,875 20,456 20,715 Federal Reserve and FHLB Stock, at cost 5,466 5,466 5,340 5,223 5,223 Foreclosed assets 237 284 73 - - Interest receivable 5,455 5,299 5,072 4,908 4,842 Goodwill 27,158 27,158 27,158 23,239 23,239 Cash value of life insurance 32,004 31,060 30,871 30,685 30,488 Mortgage servicing rights 15,347 15,458 14,965 14,868 14,357 Other assets 9,254 10,888 12,048 12,649 8,916 Total assets $1,496,263 $1,486,301 $1,501,002 $1,379,517 $1,393,949 LIABILITIES AND SHAREHOLDERS' EQUITY Deposits Non interest bearing demand $246,725 $241,245 $240,446 $232,155 $222,425 Interest bearing demand 194,420 205,581 208,583 201,085 202,097 Savings 290,111 282,311 285,902 237,987 241,761 Money market 261,953 249,536 257,013 222,161 228,182 Time deposits 269,313 271,149 279,276 259,217 265,068 Total deposits 1,262,522 1,249,822 1,271,220 1,152,605 1,159,533 Short-term borrowings 10,976 15,640 11,058 10,585 15,240 Federal Home Loan Bank advances 35,000 35,000 35,000 35,000 35,000 Trust preferred securities 10,310 10,310 10,310 10,310 10,310 Subordinated debt net of issuance costs 19,726 19,715 19,702 19,690 19,678 Interest payable 2,739 2,258 2,634 2,351 3,374 Other liabilities 18,051 19,908 19,552 21,468 17,973 Total liabilities 1,359,324 1,352,653 1,369,476 1,252,009 1,261,108 Shareholders' Equity Common stock 61,319 61,319 61,319 61,319 61,319 Additional paid-in capital 15,086 15,139 14,955 15,194 15,090 Retained earnings 123,370 120,273 117,397 116,186 113,515 Accumulated other comprehensive loss (23,412) (25,492) (26,872) (30,234) (24,870) Treasury stock (39,424) (37,591) (35,273) (34,957) (32,213) Total shareholders' equity 136,939 133,648 131,526 127,508 132,841 Total liabilities and shareholders' equity$1,496,263 $1,486,301 $1,501,002 $1,379,517 $1,393,949

SB FINANCIAL GROUP, INC. CONSOLIDATED STATEMENTS OF INCOME - (Unaudited) ($ in thousands, except per share & ratios) At and for the Three Months Ended Nine Months Ended September June March December September September SeptemberInterest income 2025 2025 2025 2024 2024 2025 2024 Loans Taxable $16,449 $16,059 $15,244 $14,920 $14,513 $47,752 $41,943 Tax exempt 117 116 115 122 127 348 374 Securities Taxable 1,097 1,133 1,169 1,178 1,192 3,399 3,692 Tax exempt 35 35 38 35 37 108 111 Other interest income 1,111 1,124 806 592 679 3,041 1,382 Total interest income 18,809 18,467 17,372 16,847 16,548 54,648 47,502 Interest expense Deposits 5,721 5,597 5,352 5,169 5,568 16,670 15,866 Repurchase agreements & other 28 21 24 41 43 73 113 Federal Home Loan Bank advances 369 366 362 369 369 1,097 1,352 Trust preferred securities 162 161 160 177 187 483 562 Subordinated debt 195 194 195 194 195 584 584 Total interest expense 6,475 6,339 6,093 5,950 6,362 18,907 18,477 Net interest income 12,334 12,128 11,279 10,897 10,186 35,741 29,025 Provision for credit losses 124 597 387 (76) 200 1,108 200 Net interest income after provision for loan losses 12,210 11,531 10,892 10,973 9,986 34,633 28,825 Noninterest income Wealth management fees 912 859 864 916 882 2,635 2,595 Customer service fees 887 886 879 842 870 2,652 2,625 Gain on sale of mtg. loans & OMSR 1,328 1,566 849 1,196 1,311 3,743 3,369 Mortgage loan servicing fees, net 158 594 611 816 39 1,363 1,367 Gain on sale of non-mortgage loans 8 82 15 10 20 105 135 Title insurance revenue 544 582 397 478 485 1,523 1,157 Net gain on sales of securities - - - - - - - Gain (loss) on sale of assets - - - - 200 - 200 Other 407 479 492 299 316 1,378 1,012 Total noninterest income 4,244 5,048 4,107 4,557 4,123 13,399 12,460 Noninterest expense Salaries and employee benefits 6,198 6,595 6,237 6,185 6,057 19,030 17,418 Net occupancy expense 801 793 893 702 706 2,487 2,182 Equipment expense 1,188 1,121 1,072 1,127 1,069 3,381 3,206 Data processing fees 723 888 1,439 821 758 3,050 2,254 Professional fees 863 892 1,034 895 659 2,789 2,032 Marketing expense 174 190 165 207 241 529 614 Telephone and communication expense 123 125 139 136 128 387 389 Postage and delivery expense 157 107 137 116 145 401 331 State, local and other taxes 268 268 224 224 208 760 683 Employee expense 255 176 174 168 228 605 565 Other expenses 748 697 896 422 804 2,341 2,282 Total noninterest expense 11,498 11,852 12,410 11,003 11,003 35,760 31,956 Income before income tax expense 4,956 4,727 2,589 4,527 3,106 12,272 9,329 Income tax expense 910 875 431 892 752 2,216 1,494 Net income $4,046 $3,852 $2,158 $3,635 $2,354 $10,056 $7,835 Common share data: Basic earnings per common share $0.64 $0.60 $0.33 $0.55 $0.35 $1.57 $1.17 Diluted earnings per common share$0.64 $0.60 $0.33 $0.55 $0.35 $1.56 $1.17 Average shares outstanding (in thousands): Basic: 6,297 6,448 6,481 6,575 6,660 6,408 6,689 Diluted: 6,311 6,459 6,502 6,599 6,675 6,427 6,704

SB FINANCIAL GROUP, INC. CONSOLIDATED FINANCIAL HIGHLIGHTS - (Unaudited) ($ in thousands, except per share & ratios)At and for the Three Months Ended Nine Months Ended SUMMARY OF September June March December September September SeptemberOPERATIONS 2025 2025 2025 2024 2024 2025 2024 Net interest income $12,334 $12,128 $11,279 $10,897 $10,186 $35,741 $29,025 Tax-equivalent adjustment 40 40 41 42 44 121 129 Tax-equivalent net interest income 12,374 12,168 11,320 10,939 10,230 35,862 29,154 Provision for credit loss 124 597 387 (76) 200 1,108 200 Noninterest income 4,244 5,048 4,107 4,557 4,123 13,399 12,460 Total operating revenue 16,578 17,176 15,386 15,454 14,309 49,140 41,485 Noninterest expense 11,498 11,852 12,410 11,003 11,003 35,760 31,956 Pre-tax pre-provision income 5,080 5,324 2,976 4,451 3,306 13,380 9,529 Net income 4,046 3,852 2,158 3,635 2,354 10,056 7,835 PER SHARE INFORMATION: Basic earnings per share (EPS) 0.64 0.60 0.33 0.55 0.35 1.57 1.17 Diluted earnings per share 0.64 0.60 0.33 0.55 0.35 1.56 1.17 Common dividends 0.150 0.150 0.145 0.145 0.140 0.445 0.415 Book value per common share 21.85 21.02 20.29 19.64 20.05 21.85 20.05 Tangible book value per common share (TBV) 17.21 16.44 15.79 16.00 16.49 17.21 16.49 Market price per common share 19.29 19.10 20.82 20.91 20.56 19.29 20.56 Market price to TBV 112.1% 116.2% 131.8% 130.7% 124.7% 112.1% 124.7%Market price to trailing 12 month EPS 9.1 10.4 12.2 12.1 11.8 9.1 11.8 PERFORMANCE RATIOS: Return on average assets (ROAA) 1.07% 1.03% 0.60% 1.04% 0.68% 0.90% 0.77%Pre-tax pre-provision ROAA 1.34% 1.42% 0.83% 1.27% 0.96% 1.29% 1.01%Return on average equity (ROE) 12.08% 11.67% 6.63% 11.07% 7.28% 10.15% 8.41%Return on average tangible equity 15.47% 14.97% 8.32% 13.51% 8.92% 12.89% 10.39%Efficiency ratio 69.00% 68.90% 80.00% 71.09% 76.78% 72.41% 76.91%Earning asset yield 5.31% 5.29% 5.23% 5.18% 5.16% 5.27% 5.05%Cost of interest bearing liabilities 2.33% 2.33% 2.32% 2.36% 2.53% 2.33% 2.52%Net interest margin 3.48% 3.48% 3.40% 3.35% 3.16% 3.44% 3.08%Tax equivalent effect 0.02% 0.01% 0.01% 0.01% 0.01% 0.02% 0.02%Net interest margin, tax equivalent 3.50% 3.49% 3.41% 3.36% 3.17% 3.46% 3.10%Non interest income/Average assets 1.12% 1.35% 1.14% 1.30% 1.19% 1.20% 1.23%Non interest expense/Average assets 3.04% 3.17% 3.45% 3.14% 3.18% 3.21% 3.16%Net noninterest expense/Average assets -1.92% -1.82% -2.31% -1.84% -1.99% -2.01% -1.93% ASSET QUALITY RATIOS: Gross charge-offs 11 49 86 195 29 146 95 Recoveries 9 3 2 13 2 14 27 Net charge-offs 2 46 84 182 27 132 68 Nonperforming loans/Total loans 0.42% 0.54% 0.56% 0.53% 0.54% 0.42% 0.54%Nonperforming assets/Loans & OREO 0.44% 0.56% 0.56% 0.53% 0.54% 0.44% 0.54%Nonperforming assets/Total assets 0.32% 0.41% 0.41% 0.40% 0.40% 0.32% 0.40%Allowance for credit loss/Nonperforming loans 345.39% 266.43% 254.35% 273.68% 276.83% 345.39% 276.83%Allowance for credit loss/Total loans 1.44% 1.43% 1.41% 1.44% 1.48% 1.44% 1.48%Net loan charge-offs/Average loans (ann.) 0.00% 0.02% 0.03% 0.07% 0.01% 0.02% 0.01% CAPITAL & LIQUIDITY RATIOS: Loans/ Deposits 87.96% 87.59% 85.61% 90.81% 88.82% 87.96% 88.82%Equity/ Assets 9.15% 8.99% 8.76% 9.24% 9.53% 9.15% 9.53%Tangible equity/Tangible assets 7.35% 7.17% 6.96% 7.66% 7.97% 7.35% 7.97%Common equity tier 1 ratio (Bank) 12.33% 12.53% 12.35% 13.43% 13.19% 12.33% 13.19% END OF PERIOD BALANCES Total assets 1,496,263 1,486,301 1,501,002 1,379,517 1,393,949 1,496,263 1,393,949 Total loans 1,110,545 1,094,719 1,088,274 1,046,735 1,029,955 1,110,545 1,029,955 Deposits 1,262,522 1,249,822 1,271,220 1,152,605 1,159,533 1,262,522 1,159,533 Shareholders equity 136,939 133,648 131,526 127,508 132,841 136,939 132,841 Goodwill and intangibles 29,048 29,107 29,125 23,597 23,613 29,048 23,613 Tangible equity 107,891 104,541 102,401 103,911 109,228 107,891 109,228 Mortgage servicing portfolio 1,470,360 1,456,374 1,432,184 1,427,318 1,406,273 1,470,360 1,406,273 Wealth/Brokerage assets under care 563,036 536,836 519,158 547,697 557,724 563,036 557,724 Total assets under care 3,529,659 3,479,511 3,452,344 3,354,532 3,357,946 3,529,659 3,357,946 Full-time equivalent employees 253 256 262 252 248 253 248 Period end common shares outstanding 6,268 6,359 6,483 6,494 6,624 6,268 6,624 Market capitalization (all) 120,907 121,453 134,982 135,780 136,189 120,907 136,189 AVERAGE BALANCES Total assets 1,502,389 1,498,756 1,459,896 1,395,473 1,376,849 1,487,251 1,350,580 Total earning assets 1,404,330 1,399,485 1,346,354 1,301,872 1,283,407 1,387,258 1,255,335 Total loans 1,104,175 1,076,328 1,076,328 1,040,580 1,018,262 1,091,670 1,005,577 Deposits 1,270,783 1,270,798 1,227,449 1,163,531 1,145,964 1,256,732 1,119,276 Shareholders equity 132,866 132,353 131,944 130,647 128,608 132,426 124,218 Goodwill and intangibles 29,077 29,116 26,714 23,605 23,621 28,140 23,720 Tangible equity 103,789 103,237 105,230 107,042 104,987 104,286 100,498 Average basic shares outstanding 6,297 6,448 6,481 6,575 6,660 6,408 6,689 Average diluted shares outstanding 6,311 6,459 6,502 6,599 6,675 6,427 6,704

SB FINANCIAL GROUP, INC. Rate Volume Analysis - (Unaudited) For the Three Months Ended Sep. 30, 2025 and 2024 ($ in thousands) Three Months Ended Sep. 30, 2025 Three Months Ended Sep. 30, 2024 Average Average Average AverageAssets BalanceInterestRate BalanceInterestRate Taxable securities $193,893 $1,0972.24% $208,081 $1,1922.28% Overnight Cash 100,164 1,1114.40% 51,578 6795.24% Nontaxable securities 6,098 352.28% 6,402 372.30% Loans, net 1,104,175 16,5665.95% 1,018,262 14,6405.72% Total earning assets 1,404,330 18,8095.31% 1,284,323 16,5485.13% Cash on hand 5,044 4,334 Allowance for loan losses (15,750) (15,601) Premises and equipment 21,854 20,820 Other assets 86,911 82,973 Total assets $1,502,389 $1,376,849 Liabilities Savings, MMDA and interest bearing demand $753,639 $3,4421.81% $659,879 $2,9691.79% Time deposits 267,984 2,2793.37% 264,188 2,5993.91% Repurchase agreements & other 14,015 280.79% 16,240 431.05% Advances from Federal Home Loan Bank 35,000 3694.18% 35,054 3694.19% Trust preferred securities 10,310 1626.23% 10,310 1877.22% Subordinated debt 19,719 1953.92% 19,670 1953.94% Total interest bearing liabilities 1,100,667 6,4752.33% 1,005,341 6,3622.52% Non interest bearing demand 249,160 - 221,897 - Total funding 1,349,827 1.90% 1,227,238 2.06% 44.20% 1 Other liabilities 19,696 21,003 Total liabilities 1,369,523 1,248,241 Equity 132,866 128,608 Total liabilities and equity $1,502,389 $1,376,849 Net interest income $12,334 $10,186 Net interest income as a percent of average interest-earning assets - GAAP measure3.48% 3.16% Net interest income as a percent of average interest-earning assets - non GAAP3.50% 3.17% - Computed on a fully tax equivalent (FTE) basis Nine Months Ended Sep. 30, 2025 Nine Months Ended Sep. 30, 2024 Average Average Average AverageAssets BalanceInterestRate BalanceInterestRate Taxable securities $198,463 $3,3992.29% $210,992 $3,6922.34% Overnight Cash 90,829 3,0414.48% 33,855 1,3825.45% Nontaxable securities 6,296 1082.29% 6,423 1112.31% Loans, net 1,091,670 48,1005.89% 1,005,577 42,3175.62% Total earning assets 1,387,258 54,6485.27% 1,256,847 47,5025.05% Cash on hand 4,880 4,431 Allowance for loan losses (15,492) (15,693) Premises and equipment 21,555 21,026 Other assets 89,050 83,969 Total assets $1,487,251 $1,350,580 Liabilities Savings, MMDA and interest bearing demand $734,938 $9,6241.75% $634,122 $8,2701.74% Time deposits 273,508 7,0463.44% 260,061 7,5963.90% Repurchase agreements & Other 12,549 730.78% 14,708 1131.03% Advances from Federal Home Loan Bank 35,015 1,0974.19% 40,466 1,3524.46% Trust preferred securities 10,310 4836.26% 10,310 5627.28% Subordinated debt 19,707 5843.96% 19,658 5843.97% Total interest bearing liabilities 1,086,027 18,9072.33% 979,325 18,4772.52% Non interest bearing demand 248,286 1.89% 225,093 2.05% Total funding 1,334,313 1,204,418 Other liabilities 20,512 21,944 Total liabilities 1,354,825 1,226,362 Equity 132,426 124,218 Total liabilities and equity $1,487,251 $1,350,580 Net interest income $35,741 $29,025 Net interest income as a percent of average interest-earning assets - GAAP measure3.44% 3.08% Net interest income as a percent of average interest-earning assets - non GAAP3.46% 3.10% - Computed on a fully tax equivalent (FTE) basis

Non-GAAP reconciliation Three Months Ended Nine Months Ended ($ in thousands, except per share & ratios) Sep. 30, 2025 Sep. 30, 2024 Sep. 30, 2025 Sep. 30, 2024 Total Operating Revenue $16,578 $14,309 $49,140 $41,485 Adjustment to (deduct)/add OMSR recapture/impairment * 301 465 131 246 Adjusted Total Operating Revenue 16,879 14,774 49,271 41,731 Total Operating Expense $11,498 $10,481 $35,760 $31,956 Adjustment for merger expenses - - (726) - Adjusted Total Operating Expense 11,498 10,481 35,034 31,956 Income before Income Taxes 4,956 3,106 12,272 9,329 Adjustment for OMSR*/Merger Expenses 301 465 857 246 Adjusted Income before Income Taxes 5,257 3,571 13,129 9,575 Provision for Income Taxes 910 752 2,216 1,494 Adjustment for OMSR/Merger Expenses ** 63 98 180 52 Adjusted Provision for Income Taxes 973 850 2,396 1,546 Net Income 4,046 2,354 10,056 7,835 Adjustment for OMSR*/Merger Expenses 238 367 677 194 Adjusted Net Income 4,284 2,721 10,733 8,029 Diluted Earnings per Share 0.64 0.35 1.56 1.17 Adjustment for OMSR*/Merger Expenses 0.04 0.06 0.11 0.03 Adjusted Diluted Earnings per Share $0.68 $0.41 $1.67 $1.20 Return on Average Assets 1.07% 0.68% 0.90% 0.77%Adjustment for OMSR*/Merger Expenses 0.06% 0.11% 0.06% 0.01% Adjusted Return on Average Assets 1.13% 0.79% 0.96% 0.79% *valuation adjustment to the Company's mortgage servicing rights **tax effect is calculated using a 21% statutory federal corporate income tax rate