SB Financial Q1 net income down 12.9% to $2.5M; EPS $0.35; loan growth 5.9% annualized

SB FINANCIAL GROUP, INC.

2023-Q1 EPS reported $0.35

Net income $2.5M, diluted EPS $0.35 vs $0.40 prior year; adjusted for OMSR recapture, net income up 14%.
Net interest income $10.3M (+21.8% YoY); net interest margin +68 bps YoY due to balance sheet mix shift.
Noninterest income $3.7M (-36.8% YoY) driven by mortgage revenue decline; mortgage originations $49.3M (-49.3% YoY).
Loans held for investment $976.3M (+14.8% YoY); deposits $1.11B (-2.5% YoY but +$23.5M linked quarter).
Nonperforming assets $4.7M (0.35% of assets), down 16% YoY; repurchased 56,000 shares during quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SB FINANCIAL GROUP, INC. reported first quarter 2023 results: net income $2.5 million, EPS $0.35.

Period: first quarter 2023
Net income: $2.5 million
EPS: $0.35
Result: reported results

Exact text from the filing

First quarter 2023 highlights: ● Net income of $2.5 million decreased 12.9 percent compared to the prior year with diluted earnings per share (“EPS”) of $0.35

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Source: SEC EDGAR

accession 0001213900-23-032261

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