SB Financial Group, the Defiance-based holding company for State Bank, reported third-quarter net income of $3.9 million, or 63 cents per diluted share, on Thursday, October 22, a slight decline from $4.0 million, or 64 cents, in the same quarter a year earlier.
The company’s loan portfolio reached $1.22 billion in the quarter ended September 30, an increase of $108.2 million, or 9.7 percent, from a year earlier and $29.2 million, or 2.5 percent, from the prior quarter. SB Financial said the result marked its tenth consecutive quarter of loan portfolio expansion.
Total deposits climbed to $1.38 billion, up $120.3 million, or 9.5 percent, from the prior-year quarter, though deposits were down $8.3 million, or 0.6 percent, from the linked quarter. Tangible book value per common share finished the quarter at $18.65, up $1.44, or 8.3 percent, from $17.21 a year earlier.
For the first nine months of 2026, net income rose to $12.7 million, a 26.7 percent increase from $10.1 million in the same period last year, and diluted earnings per share improved to $2.04 from $1.56. Net interest income rose to $39.1 million, up 9.4 percent from $35.7 million a year earlier.
SB Financial is a diversified financial services company providing community banking, mortgage banking, wealth management, private client and title insurance services through State Bank and its Peak Title affiliate.
State Bank operates 27 offices — 25 in eleven Ohio counties and two in northeast Indiana — along with 27 ATMs and four residential loan production offices across Ohio and Indiana. The company’s common stock trades on the NASDAQ Capital Market under the symbol SBFG.
Adjusted tangible book value excluding accumulated other comprehensive income advanced to $23.03 per share at quarter end, the company said. SB Financial, headquartered in Defiance, describes itself as a diversified financial services company, and its State Bank subsidiary serves consumers and small businesses across northwest Ohio and neighboring communities.
The results give northwest Ohio’s largest locally headquartered bank holding company another quarter of balance-sheet growth heading into the final months of 2026, even as quarterly earnings held essentially flat with a year ago.