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Donnerstag, 28.01.2021 22:20 von PR Newswire | Aufrufe: 34

SB Financial Group Announces Fourth Quarter 2020 Results

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PR Newswire

DEFIANCE, Ohio, Jan. 28, 2021

DEFIANCE, Ohio, Jan. 28, 2021 /PRNewswire/ -- 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 fourth quarter and twelve months ended December 31, 2020.

Fourth quarter 2020 highlights over prior-year fourth quarter include:

Net income of $5.4 million up $2.0 million or 59.6 percent; diluted earnings per share ("EPS") of $0.71, up $0.29 per share or 69.0 percent
Adjusted net income, excluding the impact of the Originated Mortgage Servicing Rights ("OMSR") recapture, was $5.8 million, which yields an increase in adjusted EPS of $0.06 to $0.77
Mortgage origination volume of $169.0 million, an increase of $31.5 million, or 22.9 percent
Pre-tax, pre-provision income of $7.5 million, up $3.1 million or 70.6 percent

The twelve months ended December 31, 2020, highlights over the prior-year twelve months include:

Net income of $14.9 million; diluted EPS of $1.96
Adjusted net income, excluding the impact of OMSR and Edon merger costs, rose to $18.8 million, up $5.9 million, or 46.1 percent, with adjusted EPS of $2.44
Return on Average Assets ("ROAA") of 1.29 percent; adjusted ROAA of 1.61 percent
Loan growth of $47.2 million, or 5.7 percent, which includes Paycheck Protection Program ("PPP") loan balances and loans acquired in the Edon acquisition.
Deposit growth of $213.9 million, or 25.4 percent, driven by PPP balances and the Edon acquisition
Mortgage origination volume of $694.2 million; servicing portfolio of $1.3 billion, which is up $101 million, or 8.4 percent

Highlights

Three Months Ended

Twelve Months Ended

($ in thousands, except per share & ratios)

ARIVA.DE Börsen-Geflüster

Kurse

SB FINANCIAL GROUP INC.

13,71 $

-1,30%

Dec. 2020

Dec. 2019

% Change

Dec. 2020

Dec. 2019

% Change

Operating revenue

$ 18,153

$ 14,555

24.7%

$ 66,026

$ 52,842

24.9%

Interest income

10,589

11,205

-5.5%

42,635

44,400

-4.0%

Interest expense

1,338

2,609

-48.7%

6,705

9,574

-30.0%

Net interest income

9,251

8,596

7.6%

35,930

34,826

3.2%

Provision for loan losses

800

300

166.7%

4,500

800

462.5%

Noninterest income

8,902

5,959

49.4%

30,096

18,016

67.1%

Noninterest expense

10,684

10,176

5.0%

43,087

37,410

15.2%

Net income

5,358

3,358

59.6%

14,944

11,973

24.8%

Earnings per diluted share

0.71

0.42

69.0%

1.96

1.51

29.8%

Return on average assets

1.73%

1.28%

35.2%

1.29%

1.16%

11.2%

Return on average equity

15.05%

9.93%

51.6%

10.74%

8.99%

19.5%

Non-GAAP Measures

Adjusted net income

$ 5,841

$ 3,119

87.3%

$ 18,757

$ 12,838

46.1%

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