SB Financial | 10-Q: FY2025 Q3 Revenue: USD 23.05 M

Revenue: As of FY2025 Q3, the actual value is USD 23.05 M.

EPS: As of FY2025 Q3, the actual value is USD 0.64, beating the estimate of USD 0.62.

EBIT: As of FY2025 Q3, the actual value is USD -7.378 M.

Segment Revenue

• Net Interest Income: For the third quarter of 2025, net interest income was $12.3 million, up from $10.2 million in the third quarter of 2024. For the first nine months of 2025, it was $35.7 million, compared to $29.0 million in the same period of 2024.
• Noninterest Income: Total noninterest income for the third quarter of 2025 was $4.2 million, slightly up from $4.1 million in the third quarter of 2024. For the first nine months of 2025, it was $13.4 million, up from $12.5 million in the same period of 2024.

Operational Metrics

• Net Income: For the third quarter of 2025, net income was $4.0 million, compared to $2.4 million in the third quarter of 2024. For the first nine months of 2025, net income was $10.1 million, compared to $7.8 million in the same period of 2024.
• Provision for Credit Losses: The provision for credit losses was $124,000 for the third quarter of 2025, compared to $200,000 for the third quarter of 2024. For the first nine months of 2025, it was $1.1 million, compared to $0.2 million in the same period of 2024.

Cash Flow

• Net Cash Provided by Operating Activities: For the nine months ended September 30, 2025, net cash provided by operating activities was $15.8 million, compared to $3.5 million for the same period in 2024.
• Net Cash Used in Investing Activities: For the nine months ended September 30, 2025, net cash used in investing activities was $5.0 million, compared to $14.9 million for the same period in 2024.
• Net Cash Provided by Financing Activities: For the nine months ended September 30, 2025, net cash provided by financing activities was $48.3 million, compared to $37.8 million for the same period in 2024.

Unique Metrics

• Mortgage Loan Volume: State Bank originated $67.6 million of mortgage loans during the third quarter of 2025 and sold $66.4 million. For the first nine months of 2025, $205.3 million were originated and $180.0 million were sold.

Future Outlook and Strategy

• Core Business Focus: The company aims to maintain a strong capital position, with State Bank classified as “well capitalized” under regulatory standards. The focus is on managing interest rate risk and maintaining liquidity to support loan demand and deposit growth.
• Non-Core Business: The acquisition of Marblehead Bancorp is expected to result in business synergies and economies of scale, consistent with the strategy to expand presence in Northwest Ohio and increase profitability by introducing existing products and services to the acquired customer base.