STATE BANK REMAINS STRONG AND RESILIENT
March 14, 2023
Headquartered in Defiance, Ohio, The State Bank and Trust Company (State Bank), a diversified financial services company providing full-service community banking, mortgage banking, commercial banking, private client, and wealth management, reassures its clients, stockholders, and communities that it remains strong and resilient as a publicly-traded financial institution, in the wake of the closures of Silicon Valley Bank of Santa Clara, Calif., and Signature Bank of New York, N.Y.
Mark Klein, Chairman, President and Chief Executive Officer of SB Financial Group, Inc., the holding company of State Bank, stated, “State Bank continues to remain on firm financial ground, with ample liquidity and capital in excess of the government’s parameters of being classified as “well-capitalized”. We were chartered 121 years ago and expect to serve our communities for generations to come.”
“Our depositors have access to full FDIC insurance for multiple accounts and we have experienced officers on staff to ensure each account is properly structured to remain fully insured. No one has ever lost a dime of FDIC-insured deposits up to $250,000,” continued Klein. “For customers who have questions about additional insurance coverage beyond this limit when deposits exceed $250,000, we are ready and prepared to assist you in identifying additional FDIC coverage to ensure your deposits remain safe and your liquidity needs are met.”
If you have questions about your coverage or would like to learn more about FDIC insurance and how it works, we encourage you to give us a call directly at 1.877.867.4218.
State Bank operates through a total of 23 offices; 22 in nine Ohio counties and one in Fort Wayne; six loan production offices located throughout the Tri-State region of Ohio, Indiana, and Michigan; and 23 ATMs.
SB Financial Group, Inc. is a diversified financial services holding company for The State Bank and Trust Company (State Bank) and SBFG Title, LLC dba Peak Title (Peak Title). Peak Title provides title insurance and opinions throughout the Tri-State region. SB Financial’s common stock is listed on the NASDAQ Capital Market under the symbol “SBFG.”
In April 2022, SB Financial was named to the Keefe, Bruyette & Woods, Inc., “Bank Honor Roll” of superior performers that consistently reported increases in earnings per share over the last decade. The honor roll review determined that just 17 banks in the U.S., including SB Financial, or 5% of all banks screened, qualified for inclusion.