What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2025-03-07 compared with 2024-03-08 · 36 added, 41 removed, 21 unchanged (79% of the section changed)

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.

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

There were 6,493,526 common shares outstanding

as of December 31, 2024, which were held by approximately 1,115 record holders.

Company paid quarterly dividends on its common shares in the aggregate amounts of $0.56 per share and $0.52 per share in 2024 and 2023,

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.

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

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

following performance graph compares the five-year total shareholder return of the Company’s common shares, based on an initial

investment on December 31, 2019, 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

3 unchanged sentences

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.

Purchases of Equity Securities

table below reflects the common shares repurchased by the Company during the three months ended December 31, 2024.

On December 18, 2024,

the Company’s Board of Directors approved a share repurchase program authorizing the repurchase of 500,000 shares through December

As of December 31, 2024, the Company had repurchased 17,460 shares, and 482,540 shares remained available for purchase under

this program.

The December 18, 2024, share repurchase program replaced the Company’s prior repurchase program announced on December

21, 2022, under which an aggregate 500,000 common shares of the Company were repurchased through December 2024.

Total Number of

14 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