Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities .
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.
31
Period Ending
Index
12/31/18
12/31/19
12/31/20
12/31/21
12/31/22
12/31/23
SB Financial Group, Inc.
100.00
122.20
116.41
128.29
119.26
112.17
NASDAQ Composite Index
100.00
136.69
198.10
242.03
163.28
236.17
KBW NASDAQ Bank Index
100.00
136.13
122.09
168.88
132.75
131.57
Source: S&P Global Market Intelligence
© 2024
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.
(a)
(b)
(c)
(d)
Period
Total Number of
Shares Purchased
Weighted Average
Price Paid per
Share
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
10/01/23 - 10/31/23
17,752
$ 13.14
17,752
272,056
11/01/23 - 11/30/23
13,988
13.59
13,988
258,068
12/01/23 - 12/31/23
21,711
14.76
21,711
236,357
Total
53,451
$ 13.92
53,451
236,357
Item 6. [Reserved].