What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2024-03-08 compared with 2023-03-07 · 50 added, 27 removed, 12 unchanged (87% of the section changed)

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities .

common shares are traded on the NASDAQ Capital Market under the symbol “SBFG”.

There were 6,935,462 common shares outstanding

as of December 31, 2022, which were held by approximately 1,167 record holders.

Company paid quarterly dividends on its common shares in the aggregate amounts of $0.48 per share and $0.44 per share in 2022 and 2021,

respectively.

The Company presently anticipates continuing to pay quarterly dividends in the future at similar levels.

However, there

is no guarantee that dividends on our common shares will continue in the future.

of dividends by State Bank may be restricted at any time at the discretion of the regulatory authorities, if they deem such dividends

to constitute an unsafe and/or unsound banking practice.

These provisions could have the effect of limiting the Company’s ability

to pay dividends on its outstanding shares.

Moreover, the Federal Reserve Board expects the Company to serve as a source of strength

to its subsidiary banks, which may require it to retain capital for further investment in State Bank, rather than for dividends to shareholders

of the Company.

The Company’s ability to pay dividends on its shares is also conditioned upon the payment, on a current basis,

of quarterly interest payments on the subordinated debentures underlying the Company’s trust preferred securities.

under the terms of the Company’s fixed-to-floating rate subordinated debt, the Company’s ability to pay dividends on its

shares is conditioned upon the Company continuing to make required principal and interest payments, and not incurring an event of default,

with respect to the subordinated debt.

Market Information

Our common shares are traded on the NASDAQ Capital

Market under the symbol “SBFG”.

There were 6,719,676 common shares outstanding as of December 31, 2023, which were held by

approximately 1,162 record holders.

The Company paid quarterly dividends on its common

shares in the aggregate amounts of $0.52 per share and $0.48 per share in 2023 and 2022, respectively.

The Company presently anticipates

continuing to pay quarterly dividends in the future at similar levels.

However, there is no guarantee that dividends on our common shares

will continue in the future.

The ability of the Company to obtain funds for

the payment of dividends and for other cash requirements is largely dependent on the amount of dividends that may be declared by State

Bank and the Company’s other subsidiaries.

Payment of dividends by State Bank may be restricted at any time at the discretion of

the regulatory authorities, if they deem such dividends to constitute an unsafe and/or unsound banking practice.

These provisions could

have the effect of limiting the Company’s ability to pay dividends on its outstanding shares.

Moreover, the Federal Reserve Board

expects the Company to serve as a source of strength to its subsidiary banks, which may require it to retain capital for further investment

in State Bank, rather than for dividends to shareholders of the Company.

The Company’s ability to pay dividends on its shares is

also conditioned upon the payment, on a current basis, of quarterly interest payments on the subordinated debentures underlying the Company’s

trust preferred securities.

In addition, under the terms of the Company’s fixed-to-floating rate subordinated debt, the Company’s

ability to pay dividends on its shares is conditioned upon the Company continuing to make required principal and interest payments, and

not incurring an event of default, with respect to the subordinated debt.

Performance Graph

The following performance graph compares the

five-year total shareholder return of the Company’s common shares, based on an initial investment on December 31, 2018, and assuming

reinvestment of dividends, against two indices – the NASDAQ Composite Index and the KBW NASDAQ Bank Index.

This Performance

Graph shall not be deemed to be “soliciting material” or to be “filed” with the SEC, nor shall such information

be deemed to be incorporated by reference into any future filing under the Securities Act or the Exchange Act, except to the extent that

the Company specifically incorporates this Performance Graph by reference into such filing.

Period Ending

2 unchanged sentences

KBW NASDAQ Bank Index

Market Intelligence

table below reflects the common shares repurchased by the Company during the three months ended December 31, 2022.

As of December 31,

2022, the Company had 480,682 shares remaining of the 500,000 approved under the Company’s existing share repurchase program which

was authorized on December 21, 2022 and expires December 31, 2024.

S&P Global Market Intelligence

Issuer Purchases of Equity Securities

The table below reflects the common shares repurchased

by the Company during the three months ended December 31, 2023.

As of December 31, 2023, the Company had 236,357 shares remaining of

the 500,000 approved under the Company’s existing share repurchase program which was authorized by the Company’s Board of

Directors on December 21, 2022 and expires December 31, 2024.

Total Number of

2 unchanged sentences

Price Paid per

Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs

Maximum Number of Shares that May Yet be Purchased Under the Plans or Programs

Total Number of

Shares Purchased

as Part of Publicly

Announced Plans

Maximum Number

of Shares that May

Yet be Purchased

Under the Plans or

10/01/23 - 10/31/23

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity