State Bank & Trust Co. Updates SB Financial Group Stake

TL;DR

**State Bank & Trust Co. just updated its ownership in SB Financial Group, Inc. via an SC 13G/A filing.**

AI Summary

The State Bank and Trust Company, an Ohio-based entity, filed an Amendment No. 7 to Schedule 13G on February 9, 2024, reporting its beneficial ownership in SB Financial Group, Inc. as of December 31, 2023. This filing indicates that The State Bank and Trust Company is part of a group, and it's an update to their previous disclosures. This matters to investors because it provides transparency into significant ownership stakes, which can influence corporate governance and future strategic decisions for SB Financial Group, Inc.

Why It Matters

This filing provides transparency into a significant ownership stake in SB Financial Group, Inc., which can influence corporate governance and future strategic decisions. Investors should monitor such filings as large holders can impact stock performance.

Risk Assessment

Risk Level: low — This is a routine amendment filing, providing an update on beneficial ownership without indicating any immediate negative or positive events.

Analyst Insight

Investors should note the continued ownership by The State Bank and Trust Company in SB Financial Group, Inc. and monitor future filings for any significant changes in their stake, as this could signal shifts in institutional confidence or strategy.

Key Players & Entities

• The State Bank and Trust Company (company) — Reporting Person and beneficial owner of SB Financial Group, Inc. shares
• SB Financial Group, Inc. (company) — The issuer whose securities are being reported
• Ohio (company) — Place of organization for The State Bank and Trust Company
• December 31, 2023 (date) — Date of event requiring the filing of this statement
• February 9, 2024 (date) — Date the SC 13G/A filing was made

FAQ

Filing Documents

• ea193254-13ga7thestate_sbfin.htm (SC 13G/A) — 64KB
• 0001213900-24-011838.txt ( ) — 66KB

(a) . Name of Issuer

Item 1(a) . Name of Issuer: SB Financial Group, Inc.

(b) . Address of Issuer’s Principal Executive Offices

Item 1(b) . Address of Issuer’s Principal Executive Offices: 401 Clinton Street Defiance, Ohio 43512

(a) . Names of Persons Filing

Item 2(a) . Names of Persons Filing: The State Bank and Trust Company SB Financial Group, Inc. Employee Stock

(b) . Address of Principal Business Office or, if none, Residence

Item 2(b) . Address of Principal Business Office or, if none, Residence: The State Bank and Trust Company 401 Clinton Street Defiance, Ohio 43512 SB Financial Group, Inc. Employee Stock Ownership Plan The State Bank and Trust Company, Trustee 401 Clinton Street Defiance, Ohio 43512

(c) . Citizenship

Item 2(c) . Citizenship: The State Bank and Trust Company - Organized under the laws of Ohio SB Financial Group, Inc. Employee Stock Ownership Plan - Organized under the laws of Ohio

(d) . Title and Class of Securities

Item 2(d) . Title and Class of Securities: Common Shares, without par value

(e) . CUSIP Number

Item 2(e) . CUSIP Number: 78408 D 105 4 Item 3 . If this statement is filed pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment Company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E). (f) An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F). (g) A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G). (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (j) Group, in accordance with § 240.13d-1(b)(1)(ii)(J).

. Ownership

Item 4 . Ownership: The State Bank and Trust Company (a) Amount beneficially owned: 328,187 (b) Percent of class: 4.85% 5 (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: -0- (ii) Shared power to vote or to direct the vote: -0- (iii) Sole power to dispose or to direct the disposition of: -0- (iv) Shared power to dispose or to direct the disposition of: 328,187 SB Financial Group, Inc. Employee Stock Ownership Plan (a) Amount beneficially owned: 328,187 (b) Percent of class: 4.85% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: -0- (ii) Shared power to vote or to direct the vote: -0- (iii) Sole power to dispose or to direct the disposition of: -0- (iv) Shared power to dispose or to direct the disposition of: 364,021 6 At December 31, 2023, there were 364,021 common shares owned by the SB Financial Group, Inc. Employee Stock Ownership Plan (the “Plan”). The State Bank and Trust Company is the trustee of the Plan. Under the terms of the Plan, the trustee votes all of the shares allocated to the accounts of participants as directed by the participants to whose accounts such shares have been allocated. With respect to unallocated shares, the Plan provides that the Trustee shall vote such shares in the Trustee’s discretion. As of December 31, 2023, 328,187 of the shares held by the Plan have been allocated to Plan participants. The trustee has limited power to dispose of Plan shares, as set forth in the Plan, such as in order to pay Plan participants. The trustee is directed by the Plan to invest primarily in shares of SB Financial Group, Inc.

. Ownership of Five Percent or Less of a Class

Item 5 . Ownership of Five Percent or Less of a Class: Not applicable

. Ownership of More than Five Percent on Behalf of Another Person

Item 6 . Ownership of More than Five Percent on Behalf of Another Person: Not applicable Item 7 . Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company: Not applicable

. Identification and Classification of Members of the Group

Item 8 . Identification and Classification of Members of the Group: Not applicable

. Notice of Dissolution of Group

Item 9 . Notice of Dissolution of Group: Not applicable

. Certification

Item 10 . Certification: By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §240.14a-11. 7 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. THE STATE BANK AND TRUST COMPANY Date: February 9, 2024 By: /s/ Anthony V. Cosentino Anthony V. Cosentino, Chief Financial Officer SB FINANCIAL GROUP, INC. EMPLOYEE STOCK OWNERSHIP PLAN By: The State Bank and Trust Company, Trustee Date: February 9, 2024 By: /s/ Anthony V. Cosentino Anthony V. Cosentino, Chief Financial Officer 8 EXHIBIT A AGREEMENT FOR JOINT FILING OF SCHEDULE 13G The undersigned hereby agree that the Schedule 13G being filed with the Securities and Exchange Commission to report their beneficial ownership of more than 5% of the common shares of SB Financial Group, Inc., an Ohio corporation, shall be, and is, filed on behalf of each of the undersigned. THE STATE BANK AND TRUST COMPANY Date: February 9, 2024 By: /s/ Anthony V. Cosentino Anthony V. Cosentino, Chief Financial Officer SB FINANCIAL GROUP, INC. EMPLOYEE STOCK OWNERSHIP PLAN By: The State Bank and Trust Company, Trustee Date: February 9, 2024 By: /s/ Anthony V. Cosentino Anthony V. Cosentino, Chief Financial Officer 9

View Full Filing

View this SC 13G/A filing on SEC EDGAR