Page 1

sb financial group Exhibit 99.1 SB Financial Group Announces Record First Quarter 2021 Results DEFIANCE , OH , April 30 , 2021 -- SB Financial Group , Inc. ( NASDAQ : SBFG ) ( “ SB Financial ” or the “ Company ” ) , a diversified financial services company providing full - service community banking , mortgage banking , wealth management , private client and title insurance services today reported earnings for the first quarter ended March 31 , 2021 . First quarter 2021 highlights over prior - year first quarter include : • Net income of $ 7.1 million up $ 6.4 million or 939.6 percent ; diluted earnings per share ( " EPS ” ) of $ 0.97 , up $ 0.88 per share or 977.8 percent , which was the highest quarterly earnings in Company history • Adjusted net income , excluding the impact of the Originated Mortgage Servicing Rights ( " OMSR " ) recapture , was $ 4.9 million , which yields a decrease in adjusted EPS of $ 0.29 to $ 0.68 . Adjusted EPS was up $ 0.37 , or 119.4 , percent from adjusted EPS in the prior - year quarter • Mortgage origination volume of $ 155.8 million , an increase of $ 54.5 million , or 53.7 percent Pre - tax , pre - provision income of $ 9.6 million , up $ 8.3 million or 639.7 percent The twelve months ended March 31 , 2021 , highlights over the prior - year twelve months include : • Loan growth of $ 17.4 million , or 2.1 percent , which includes Paycheck Protection Program ( “ PPP ” ) loan balances and loans acquired in the Edon acquisition • Deposit growth of $ 256.3 million , or 29.7 percent , driven by consumer and small business liquidity and the Edon acquisition • Mortgage origination volume of $ 748.7 million ; servicing portfolio of $ 1.3 billion , which is up $ 87.8 million , or 7.2 percent Highlights ( $ in thousands , except per share & ratios ) Operating revenue Interest income Interest expense Net interest income Provision for loan losses Noninterest income Noninterest expense Net income Earnings per diluted share Return on average assets Return on average equity Non - GAAP Measures Adjusted net income Mar. 2021 Three Months Ended Mar. 2020 % Change $ 20,547 10,705 $ 10,709 91.9 % 10,644 0.6 % 1,080 2,096 -48.5 % 9,625 8,548 12.6 % 750 600 25.0 % 10,922 2,161 405.4 % 10,909 9,406 16.0 % 7,081 681 939.8 % 0.97 0.09 977.8 % 2.21 % 0.26 % 750.0 % 19.78 % 1.99 % 894.0 % Adjusted diluted EPS Adjusted return on average assets Adjusted pre - tax , pre - provision income $ 4,943 $ 2,428 103.6 % 0.68 1.54 % 6,932 0.31 119.4 % 0.92 % 67.4 % 3,514 97.3 % " The first quarter marks a record quarter in earnings for our Company . We earned $ 0.97 per share in the quarter up significantly from the prior year as we recaptured servicing rights impairment and continued to deliver higher mortgage and PPP volume , " said Mark A. Klein , Chairman , President , and CEO of SB Financial . “ Our Residential Mortgage group originated strong volume of $ 156 million , and we processed nearly $ 40 million of PPP forgiveness from the first phase , while originating over $ 22 million in the second phase . "