SB FINANCIAL GROUP INC

For the period ended Dec 31, 2023. Filed Mar 8, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 8, 2024

SBFG$28.25-0.6%Stored close · as of Nov 9, 2026

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Contents

Item 2. Properties

The Company’s principal executive offices are located at 401 Clinton Street, Defiance, Ohio. State Bank owns this facility, with a portion of the facility utilized as a retail banking center. In addition, State Bank owns the land and buildings occupied by 21 of its banking centers and leases two other properties used as banking centers. The Company also occupies office space from various parties for loan production and other business purposes on varying lease terms. There is no outstanding mortgage debt on any of the properties which are owned by State Bank.

Listed below are the banking centers, loan production offices and service facilities of the Company and their addresses, all of which are located in Allen, Defiance, Delaware, Franklin, Fulton, Hancock, Lucas, Paulding, Williams and Wood counties of Ohio; Allen, Boone, Hamilton and Steuben counties of Indiana; and Monroe county of Michigan:

SB Financial Group, Inc. Property List as of December 31, 2023

($ in thousands) · Description/Address · Leased/ Owned · Total Deposits 12/31/23
Main Banking Center & Corporate Office
401	Clinton Street, Defiance, OH		Owned	$254,499
Banking Centers/Drive-Thru’s
1419	West High Street, Bryan, OH		Owned	56,400
510	Third Street, Defiance, OH (Drive-thru)		Owned	N/A
1600	North Clinton Street, Defiance, OH		Leased	38,898
312	Main Street, Delta, OH		Owned	20,504
4080	West Dublin Granville Road, Dublin, OH		Owned	79,995
104	North Michigan Avenue, Edgerton, OH		Owned	12,508
201	East Lincoln Street, Findlay, OH		Owned	21,823
408	South Main Street Suite A, Findlay, OH		Leased	103
12832	Coldwater Road, Fort Wayne, IN		Owned	29,364
1232	North Main Street, Bowling Green, OH		Owned	22,454
235	Main Street, Luckey, OH		Owned	29,324
133	East Morenci Street, Lyons, OH		Owned	23,672
930	West Market Street, Lima, OH		Owned	58,987
1201	East Main Street, Montpelier, OH		Owned	42,167
218	North First Street, Oakwood, OH		Owned	24,413
220	North Main Street, Paulding, OH		Owned	70,841
610	East South Boundary Street, Perrysburg, OH		Owned	14,232
119	South State Street, Pioneer, OH		Owned	38,644
6401	Monroe Street, Sylvania, OH		Owned	57,552
311	Main Street, Walbridge, OH		Owned	30,982
101	North Michigan Street, Edon, OH		Owned	59,472
1379	North Shoop Avenue, Wauseon, OH		Owned	83,371
Loan Production Offices
307	North Wayne Street, Angola, IN		Owned	N/A
10100	Lantern Road, Suite 240, Fishers, IN		Leased	N/A
94	Granville Street, Gahanna, OH		Owned	N/A
8204	Secor Road, Lambertville, MI		Leased	N/A
1900	Monroe Street, Suite 108, Toledo, OH		Leased	N/A
100	South Main Street, Suite 102, Zionsville, IN		Leased	N/A
Service Facilities (SBT/ SBFG Title)
105	East Holland Street, Archbold, OH		Leased	N/A
125	West Butler Street, Bryan OH		Owned	N/A
9101	Antares Avenue, Columbus, OH		Owned	N/A
1911	Baltimore Road, Defiance, OH		Leased	N/A
Total deposits		$1,070,205

SB Captive operates from office space located at 101 Convention Center Dr., Suite 850, Las Vegas, NV 89109.

The Company’s subsidiaries have several noncancellable leases for business use that expire over the next five years. Aggregate rental expense for these leases was $0.20 million and $0.19 million for the years ended December 31, 2023 and 2022, respectively.

Future minimum lease payments under operating leases are:

($ in thousands)
2024	$241
2025	156
2026	140
2027	117
2028	80
Thereafter	567
Total minimum lease payments	$1,301

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.