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26.07.2021 16:15
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PR Newswire
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SB Financial Group Announces Second Quarter 2021 Results
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PR Newswire
DEFIANCE, Ohio, July 26, 2021
DEFIANCE, Ohio, July 26, 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 second quarter and six months ended June 30, 2021.
Second quarter 2021 highlights over prior-year second quarter include:
- Net income of $3.8 million; diluted earnings per share ("EPS") of $0.52 or a 10.6 percent increase
- Adjusted net income, excluding the impact of the Originated Mortgage Servicing Rights ("OMSR") impairment of $0.1 million was $3.84 million, with EPS of $0.53
- Mortgage origination volume of $164.9 million, reflects a decrease of $58.8 million, or 26.3 percent
Six months ended June 30, 2021, highlights over prior-year six months include:
- Net income of $10.8 million and diluted EPS of $1.49, compared to $4.3 million, or $0.56 per share or a 166.1 percent increase
- Adjusted net income, excluding the impact of OMSR activity and merger costs of $8.8 million, up $0.9 million or 10.9 percent
- Adjusted diluted EPS of $1.21, up $0.18 per share or 17.5 percent
Second quarter 2021 trailing twelve-month highlights include:
- Loans excluding Paycheck Protection Program ("PPP") loan balances of $34.8 million, decreased $3.0 million, or 0.4 percent from the prior year
- Deposits grew by $100.4 million, or 10.1 percent to $1.09 billion at quarter end
- Mortgage origination volume of $689.9 million; servicing portfolio of $1.32 billion, which is up $1.2 million, or 4.9 percent
| | | | | | | | | |
| Highlights | Three Months Ended | | | Six Months Ended | ||||
| ($ in thousands, except per share & ratios) | Jun. 2021 | Jun. 2020 | % Change | | | Jun. 2021 | Jun. 2020 | % Change |
| Operating revenue | $ 15,694 | $ 17,487 | -10.3% | | | $ 36,241 | $ 28,196 | 28.5% |
| Interest income | 10,163 | 10,595 | -4.1% | | | 20,868 | 21,239 | -1.7% |
| Interest expense | 1,006 | 1,723 | -41.6% | | | 2,086 | 3,819 | -45.4% |
| Net interest income | 9,157 | 8,872 | 3.2% | | | 18,782 | 17,420 | 7.8% |
| Provision for loan losses | - | 1,300 | -100.0% | | | 750 | 1,900 | -60.5% |
| Noninterest income | 6,537 | 8,615 | -24.1% | | | 17,459 | 10,776 | 62.0% |
| Noninterest expense | 11,076 | 11,662 | -5.0% | | | 21,985 | 21,068 | 4.4% |
| Net income | 3,761 | 3,655 | 2.9% | | | 10,842 | 4,336 | 150.0% |
| Earnings per diluted share | 0.52 | 0.47 | 10.6% | | | 1.49 | 0.56 | 166.1% |
| Return on average assets | 1.13% | 1.25% | -9.6% | | | 1.66% | 0.78% | 112.8% |
| Return on average equity | 10.42% | 10.31% | 1.1% | | | 15.09% | 6.22% | 142.6% |
| | | | | | | | | |
| Non-GAAP Measures | | | | | | | | |
| Adjusted net income | $ 3,840 | $ 5,495 | -30.1% | | | $ 8,783 Werbung Mehr Nachrichten zur SB FINANCIAL GROUP INC. Aktie kostenlos abonnieren
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