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SBFG Nasdaq· SB Financial Group Inc.
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SBFG Nasdaq· SB Financial Group Inc.
Earnings report Q2 2023

SB Financial Group Records Solid Revenue Growth

Segments of revenue

SB Financial Group's revenue for the latest quarter was derived from several segments. The taxable loans segment generated $12.71 million, marking a significant increase from the previous year's $8.88 million. Tax-exempt loans contributed a further $0.12 million. The securities segment brought in $1.37 million, split between taxable and tax-exempt securities. Other interest income added $0.2 million to the total revenue, bringing the total interest income to $14.41 million.

Strengths

The company's strengths lie in its robust performance in taxable loans, which saw a significant increase compared to the previous year. The consistent performance in securities also contributed to the overall revenue growth.

Challenges

The company faced increased expenses in the form of interest on deposits, which rose sharply from $0.57 million to $3.54 million. This increase in expenses could potentially offset the gains made in revenue.

Noteworthy

It's worth noting that the company's tax-exempt loans and securities, while not as substantial as the taxable segments, still contributed to the total revenue, adding diversity to the company's income streams.

Summary

In summary, SB Financial Group demonstrated solid performance in the latest quarter, with total interest income reaching $14.41 million. The significant increase in taxable loans revenue was a major contributor to this growth. However, the company also faced increased expenses, particularly in interest on deposits. The diversity of the company's income streams, including tax-exempt loans and securities, is a positive aspect of its financial performance.

Source documents

Form 10-Q  filed on Aug 10, 2023
87 pages scanned

Reference data

Company financials Q2 revenue 15.5M
Analyst estimates Q2 EPS beat by 39.02%
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