SB FINANCIAL GROUP, INC. 10-K

Item 2. Properties . The Company’s principal executive offices are located at 401 Clinton Street, Defiance, Ohio. State Bank owns this facility, with a portion of the facility utilized as a retail banking center. In addition, State Bank owns the land and buildings occupied by 21 of its banking centers and leases two other properties used as banking centers. The Company also occupies office space from various parties for loan production and other business purposes on varying lease terms. There is no outstanding mortgage debt on any of the properties which are owned by State Bank. 28 Listed below are the banking centers, loan production offices and service facilities of the Company and their addresses, all of which are located in Allen, Defiance, Delaware, Franklin, Fulton, Hancock, Lucas, Paulding, Williams and Wood counties of Ohio; Allen, Boone, Hamilton and Steuben counties of Indiana; and Monroe county of Michigan: SB Financial Group, Inc. Property List as of December 31, 2023 ($ in thousands) Description/Address Leased/ Owned Total Deposits 12/31/23 Main Banking Center & Corporate Office 401 Clinton Street, Defiance, OH Owned $ 254,499 Banking Centers/Drive-Thru’s 1419 West High Street, Bryan, OH Owned 56,400 510 Third Street, Defiance, OH (Drive-thru) Owned N/A 1600 North Clinton Street, Defiance, OH Leased 38,898 312 Main Street, Delta, OH Owned 20,504 4080 West Dublin Granville Road, Dublin, OH Owned 79,995 104 North Michigan Avenue, Edgerton, OH Owned 12,508 201 East Lincoln Street, Findlay, OH Owned 21,823 408 South Main Street Suite A, Findlay, OH Leased 103 12832 Coldwater Road, Fort Wayne, IN Owned 29,364 1232 North Main Street, Bowling Green, OH Owned 22,454 235 Main Street, Luckey, OH Owned 29,324 133 East Morenci Street, Lyons, OH Owned 23,672 930 West Market Street, Lima, OH Owned 58,987 1201 East Main Street, Montpelier, OH Owned 42,167 218 North First Street, Oakwood, OH Owned 24,413 220 North Main Street, Paulding, OH Owned 70,841 610 East South Boundary Street, Perrysburg, OH Owned 14,232 119 South State Street, Pioneer, OH Owned 38,644 6401 Monroe Street, Sylvania, OH Owned 57,552 311 Main Street, Walbridge, OH Owned 30,982 101 North Michigan Street, Edon, OH Owned 59,472 1379 North Shoop Avenue, Wauseon, OH Owned 83,371 Loan Production Offices 307 North Wayne Street, Angola, IN Owned N/A 10100 Lantern Road, Suite 240, Fishers, IN Leased N/A 94 Granville Street, Gahanna, OH Owned N/A 8204 Secor Road, Lambertville, MI Leased N/A 1900 Monroe Street, Suite 108, Toledo, OH Leased N/A 100 South Main Street, Suite 102, Zionsville, IN Leased N/A Service Facilities (SBT/ SBFG Title) 105 East Holland Street, Archbold, OH Leased N/A 125 West Butler Street, Bryan OH Owned N/A 9101 Antares Avenue, Columbus, OH Owned N/A 1911 Baltimore Road, Defiance, OH Leased N/A Total deposits $ 1,070,205 SB Captive operates from office space located at 101 Convention Center Dr., Suite 850, Las Vegas, NV 89109. The Company’s subsidiaries have several noncancellable leases for business use that expire over the next five years. Aggregate rental expense for these leases was $0.20 million and $0.19 million for the years ended December 31, 2023 and 2022, respectively. 29 Future minimum lease payments under operating leases are: ($ in thousands) 2024 $ 241 2025 156 2026 140 2027 117 2028 80 Thereafter 567 Total minimum lease payments $ 1,301