SB Financial Group (SBFG) AGM 2025 summary

Opening remarks and agenda

• Meeting called to order with 74% of outstanding shares represented, establishing a quorum.

• Four proposals on the agenda: election of directors, ratification of auditors, advisory vote on executive compensation, and frequency of future compensation votes.

• Shareholders could submit questions electronically until 10:35 A.M. for discussion.

Financial performance review

• Net income for 2024 was $11.5 million ($1.72 EPS), slightly below 2023's $12.1 million.

• Deposit base grew by $82 million (7.7%), loan book by $47 million (4.7%).

• Margin revenue reached $40 million, 70% of total revenue; total revenue was $57 million.

• Return on average assets was 0.84%, and return on tangible economic equity was 11.34%.

• Assets under management in the wealth division grew by $46 million (9.1%).

Board and executive committee updates

• All directors met required attendance; board met 15 times in the year.

• Committees (audit, compensation, governance, risk, loan review, trust investment) met regularly and were led by experienced members.

• A new risk committee was formed, meeting twice in the year.