BUSINESS BRIEF

SB Financial reports $1.3M profit for Q3

10/21/2013
BLADE STAFF
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Members of SB Financial Group are, from left, Jon Gathman, senior lender; Keeta Diller, director of operations; Pam Benedict, residential real estate manager; Mark A. Klein, president and CEO; Nichole Wichman, market and sales strategist; Tony Cosentino, executive vice president and CFO; Kristen Nusbaum, chief retail/deposit officer; and Craig Kuhlman, executive vice president, wealth management.

DEFIANCE — SB Financial Group Inc., the parent firm of State Bank & Trust Co., reported a third-quarter profit Monday of $1.3 million, or 28 cents per share, up only slightly from the same period a year ago when the financial institution had a quarterly profit of $1.3 million, or 27 cents per share.

The company reported net interest income of $5.3 million, down 4.5 percent from a year ago when net interest income was $5.52 million. The bank said it had total assets of $633.4 million, up 0.5 percent from $630.2 million in the third quarter of 2012.

SB Financial said its nonperforming assets fell by 6.7 percent from the third quarter of 2012 and were just 1.4 percent of total assets.