Rurban uses State Bank to rebrand itself, subsidiary
SB Financial Group becomes new name
4/24/2013DEFIANCE — The name Rurban Financial Corp. is no more.
The parent firm of State Bank and Trust Co. announced Wednesday that it has changed its name to SB Financial Group and, in the process, is renaming its banking subsidiary the State Bank.
Rurban also is changing its Nasdaq ticker symbol from RBNF to SBFG.
The two name changes are part of the holding company’s decision to rebrand both the holding company and banking operations under the same State Bank name.
A new State Bank logo has been created, and all business lines and functions have been consolidated under the State Bank brand.
In a statement, Mark A. Klein, president and CEO of SB Financial Group and State Bank, said, “With this move, we are aligning the identity of our bank and parent company under one name and one logo, which should enhance the reputation of both. The many products and services we already offer can now be viewed more easily as belonging to one company with a consistent vision based on high-quality products and a passion for customer service.”
SB Financial Group has a second operating subsidiary, RDSI Banking Systems, which is a financial transactions processing firm. State Bank has 17 banking centers in seven northwestern Ohio counties, and one in Fort Wayne, Ind.
It also has three loan production offices — two in Columbus and one in Angola, Ind.
On Monday, SB Financial reported a first-quarter profit of $1.3 million, or 27 cents a share, a 36 percent increase over the $970,000, or 20 cents a share, in the same period a year earlier.
The financial holding firm said it had net interest income, a key measurement for banks, of $5.3 million.
That compared with $4.9 million for the same quarter a year ago. Its provision for loan losses was $299,000 compared with $450,000 a year ago.