SBFG - Earnings call transcript Q1 2022 | SB Financial Group, Inc.

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Operator

Good morning, and welcome to the SB Financial First Quarter 2022 Conference Call and Webcast. I would like to inform you that this conference call is being recorded. [Operator Instructions] We will begin with remarks by management and then open the conference up to the investment community for questions and answers. I will now turn the conference over to Sarah Mekus with SB Financial. Please go ahead, Sarah.

Sarah Mekus

everyone. morning, Good to being like be that conference ir.yourstatebank.com. this and I live remind over is at website broadcast on will the call available would our you Internet archived and

Mark me Officer; operational may results anticipated Financial Walz, contain Klein, Joining statements Steve are Chairman, and SB Cosentino, and This CEO; Officer. Lending plans, regarding and President Chief forward-looking objectives. Chief Tony call performance, today Financial’s

uncertainties advised number that on based expectations are of management’s to risks a to those and call cause Forward-looking materially statements are deliver could subject and results on actual from to today. differ expressed our or

undertakes a We obligation forward-looking any except earnings identified statements which call. to at as factors end statements law after required number this have Financial within of release, the to forward-looking the no of different encouraged date you update our of are by the SB review.

measures. call call to GAAP, contain earnings In Mr. certain in accordance in the included will addition with release. financial Klein. reconciliation to financial presented our I to now will also results measures is A turn this over of the non-GAAP non-GAAP GAAP

Mark Klein

servicing the adjust $X.XX non-GAAP $X.X up prior the XX% impact origination quarter. for PPP And XXXX. was quarter. the rights mortgage to when share, from grow generally impact the driven is issued now time, be high-performing households. especially nearly the KBW call recapture. households XX,XXX on quarter, focused year. expanding included we running the for of That were impact income to Expense you, In included million, to webcast. the of to and households additional provider Net $XX higher prior reduced million. services pleased in $XX things. $XX our from start the million of conference on million from the the volume is from adjusting XXXX, to to due Loan our net were have million, quarter, over prior was for XX% many prior $XX,XXX year select role levels. XX% the midst over those Good Last share the Mortgage At interest prior remaining various we Bank what year commissions million services second per in honored that headwinds, banks be morning, the $XXX,XXX prior Adjusting you balances and million Thank now PPP pretax group for know year the result Earnings a linked right year. down quarter down the preferred from just the all mortgage in for over by $X.XX for by we these challenging statement $XX up include XXXX publicly $XX adjusted years. night, this lower quarter $X.XX, when we income in to and include scale, million, than remain a our in forgiveness may continue last pleased net Deposits the Highlights in of everyone. $X.X XX I more year first is PPP first year, X XX of for of with which linked year. recapture, down strong vacancy and million. income banks the to in Sarah. Welcome. earnings quarter our traded we NIM from $X.X the when from year this of and to of for per trend linked quarter, were same down earnings and we the year for flat servicing

a assets remains zero both level provision quality points reserve comfortable Asset with of XX basis linked metrics, and our quality quarter the of We were from charge-offs higher negligible prior at net quarter, the our level strong the for during quarter. metrics due nonperforming to improved were and asset year strong.

of conveyed our reiterate scale products key diversifying base, meeting is we success to in organic and, when asset driven company quality. our As course, for opportunistic, with our operations annual and and our X and and we initiatives. before, Growing quarters in by course, communication services revenue, client M&A of future excellence that of many more and growth more continue client customize

its clients lending Title We completed to of received. Peak the XXXX team provide integration the in these been continued has outside State agency efforts purchase reach diversity. in for expanding Northwest the of markets revenue more mortgage support residential region small Ohio First, and into very title while Bank. our into that, with well

to we now insurance lender and commercial complement have title addition, existing estate real Indianapolis. a business our now residential in In

In they our ensure bit fact, vendors pays buy. in own our decline off. title are residential were to to increased have to pay agency, we results do our commercial the to of business traction utilize commercial in and to able we remains, the a the supplement even title quarter our ensure beginning To

below feel the our in in good given headwinds the and markets quarter the continued level we of originations were $XXX all rising from compressed mortgage million, inventories. production about housing Although rates of

nearly Over volume. origination have total million months, the in $XXX last delivered XX we still mortgage

would the us we that mortgage some initiative over private in book last Our months, us met $XX product, group million XXXX, to developed launching enabled we have time XX has this ago. approximately client

particularly and revenue business the ended at competitors, be Group for $XXX the our as high in key quarter Wealth more period Our our of remote this quarter Total number was a who $XXX,XXX. to for the touch management million, continues have line. under adopted generated a as differentiator a assets a -- presence Management company,

were high double-digit in loans the up net way growth X rate as scale. had the of linked low PPP that positive We quarter adjusted the XX.X%. Loan now $XX increased our net was X X.X%, quarters. annualized loan was prior positive a more lending from earlier, our the market an growth or single-digit, Secondly, mirror million our we to named in of robust product all nearly new to norm quarter, have to are as Compared back year, is company time. in This we of and the our to well, a more pre-pandemic. recently And line up market fits I well we have expect in Indianapolis a that Columbus success and that we market markets. building for Pipelines our over market. mentioned executive the had last

prior $X.XX expanded XXXX. year. deposit base billion, $XX pricing from rates, Our impending normalcy will deposit do With million expect during the we some another in rise return up to that

will on hedging liquidity, to slowly focusing deposits, rising have have appropriate duration ample customers and and albeit continuing begun and rates we still Although our we a grow pricing. mild to with spend, be extension

in and Third, PPP quarter more ended [$X million] loans. with the deeper relationships remaining scope. We

and look to flexibility we able business of assist we to our of and As acquire those new a result liquidity help clients back, number a needs. commitment our ones our were what and as

to this was and million, year strategy to million. take program loss past of by build from loan over $XX Our $X majority the $X.X reserve million our fees in the increasing nearly

we was prospects our clients. all half our it one to as program a As we but we XXX significant franchise, the was a it for a work new lot of certainly great clients. was out, disruption, And particularly as know huge first that the a developed have benefit turned into

lending evenly to returned PPP sight, we of our end SBA the have is at within program strategy. XA the traditional Now

delivered this of certainly slowed gains the strategy fact, our in in the In our $XXX,XXX. sale and, the fourth of as quarter attractive. rates less mortgage-financed excellence, on segment made Operational quarter volumes movement refinance

was rate XX% internal XX% report from came finances, and XX% quarter, our the of For volume. to pleased external construction refinances and lending from purchase

has encountering the having highly model more markets increased of for of to moved of mortgage X/X are expense. prior is last our levels levels line year, and year, model profile were to variable, our clearly production. the of all inventory compensation and continues a to that in we we be less staff a However, mortgage new all million $XXX that levels business and million from in anomaly. our Expense in low $XXX reduced also our with We understand deals. competition down quarter the compensation support volume our for built commission certainly realigned And for

We to more look for profitable. will business of the and efficient more make course, line ways continue to

have is the not level production, quarters, we prior rather producers here discussed but of number the to in volume. the vertical of As that achieve

estate asset we our we presence expect achieve recruiting every quality. As are our will such, MLOs disruption real regional more And to brand leaders and our business products, finally, competitors. to the We market think And production the there our continue goals. area among leverage in of line, remain committed to all strong day. to be our our as

reduced has for properties prior As and quarter, overall at we $X $X.X linked comped nearly which they by would and million reviewed audio both last this quarters. have thereby we quarter, and NPAs the year sell million were

to slight increase a residential However, our loans nonperforming in the of due [help our loan level a portfolio. is as bit]

As the our communities to we have coming to to in our move begun improve forward, metrics process expect foreclosure quarters. do allow the

and earlier, just easily level, of now allowed us PPP As I charge-offs the growth within X.XX% to our and from our [$X,XXX] Net earnings a loans. quarter, mortgage million mentioned, in which the in runway I throughout build certainly sales XXXX loan as were anticipated handle reserve year. stated to record stands, $XX we have and reserves

few the give more performance. I’ll on a Now ask Tony us to details. Tony, quarterly

Tony Cosentino

net for And income the recapture were share. Mark $X.X by as servicing Again, morning. Good $XXX,XXX the Mark GAAP of our Mark. impacted million or noted, quarter, prior mortgage as rights. per had stated, also we our earnings $X.XX Thanks, of

net income quarter. for As the this have million recapture we been for $X.X adjust item, would

the revenue down were results. year was We quarter to in quarter impacted XX.X% the year. margin margin revenue. that helped forgiveness going and linked reduced due nearly loan offset $X.X costs X% and further impact from prior with first recent margin. of the loan prior PPP in over Operating core the to million down decline statement, Our our income PPP operating down portfolio. slowing forgiveness for prior business to funding the The revenue mortgage the a from rate growth include: declines quarter. break down X.X% starting I’m able highlights to expenses grow the were down with the the and

said, net adjust for up I the we forgiveness. As be X.X% but XX.X% prior down interest for when was would year, the PPP income

which all points would for the XX XX impacted PPP year, reduced are Our for nearly the decreased by PPP Waterville, be are by points average yield the Loan basis which comparisons loan quarter from is the when of yield for realized. excluded. by prior X.X% fees basis

which As nearly such, during in of for interest program, XXXX. the $X bulk taken the was billion we own and fees

the On reduced of from again prior the funding our the cost interest-bearing we side, year. liabilities

basis basis by down of point. Net on the points from linked down interest-bearing rate is which year year to from the quarter, basis X the quarter. and quarter For the and XX prior linked XX down our basis points, margin points was was interest liabilities prior from by X.XX% XX XX the

of sold which we or from in our XXXX, sheet reflecting XX believe volume was the both that business sale income is respectively. servicing the noninterest lower noninterest and line Total million points, we Excluding and on PPP, balance $X.X are margin on impact of increased growth loan we $X.X swing bottom on clearly cash sheet consumer would down and X.X% residential be of income came million, XX% are our gains was fee in We Excess our rights. prior to the spending improve impact by up continues at our X.X%. income basis the at $X.X the in $XX.X balance optimistic Total from If margin, down million. million will the but X mix. on year, margin. XXXX and of mortgage $X.X volume remove other million negative cycle extended mortgage

this equally yield rising average expected, As and to tightened, sales quarter the rate. have on due difficult loan rapid was

when of routes, Our allowed of feel the this is you bottom that the to the curve hedge impact us position lower yield. the on rate

and value over mortgage market of portfolio basis Our right just our future value distributing up momentum from provide basis fair this quarter which Total XX nearly points balance billion up now XXX improved the the calculated quarter. XX quarter were a value This basis servicing were or The from the have $X.X servicing quarter and rates linked for the was $XX.X quarter. from points. rights $XXX,XXX. this $XXX,XXX. down million with loans Rising the of impairment and and for with remaining should linked down year X,XXX temporary We is fair prior significantly $XX.X operating recapture. X.X% year points $XX,XXX additional $XXX,XXX a of of expenses million, of provided in prior now revenue

costs technology continue labor rising spend employment and Our and production with open May. headwinds positions to include offsets from in base

the of assets XX, at of million, to Loan were sheet. XX.X% the return March balance which stood XXXX, company. outstanding $XXX let’s at Now total

beyond discussed prior deposit certainly we As expectations, total in have are well impacted quarters, levels asset growth.

our optimize lenders balance optimistic opportunities team rebalance to appropriate and and to staff asset management continue that treasury as are our our of We additional mix. sheet identified commercial

non-performing shares repurchased capital basis per $X.X from share to Total loss. basis, our the assets of an by standing were As to points Buyback increased down $XXX,XXX for tangible book of a or XX ROCE at price with a continued the $XX.XX. our pace down brisk of quarter XXX,XXX XXXX the we million, at at with X.X% which compared million quarter position, value of the On If have we at average quarter ratio X.X%. look this adjust is quarter. both in down X and we book numbers nonperforming restructured $XX.XX our due restructured is unrealized basis or our year-over-year accruing the bond value $XXX,XXX equity-to-asset tangible $XX.X points in portfolio are for first them. at credits. per loans million and level year, linked These $XXX.X X.X%. Including elevate prior [absent] year by finished

Our asset basis ratio total to points. be would reduced nonperforming XX

by back provision indicated, now And Mark over was prior reserve up was the the our As to $XXX,XXX loss turn expense year quarter for call from the I’ll X.X%. or zero. Mark. loan

Mark Klein

that curve, drive the Tony. quarter more mix. to base received of and way. meaningful that events And a with on to mortgage higher rates, operating albeit going pattern A earnings news we great shareholder continued another asset acknowledging to X of yield the you, rollout. steepening our be solid inflation, completely year have in inclusion the new revenue this scale regarding will our higher start returning and stable concluded conversation rates, a is improved higher this our KBW Once in with Thank

know, And a week, cash XX% to you all X.XX%. stock First, now we payout announced a dividend. we in X% share, per stock dividend of common $X.XX equates of February, as announced just approximate a this dividend and ratio yield which

ways to our continue look shareholder prudently to base. capital We to for return

for turn to I’ll it questions. back Now Sarah

Sarah Mekus

now we’re and our you, Thank for ready question. first

Operator

first Today’s Brian question from Martin [Operator Janney Instructions] is at Montgomery.

Brian Martin

couple just Maybe for a me.

if of kind of the Indiana plan Just are kind you what missed outlook of how -- just is said, is just kind -- expansion little but news going there? time? with -- you’re on of of about some the start talk to a of and you Indiana just I the kind you the and over capacity what kind Can you just share I thinking that maybe just more that the heard what bit what and there.

Mark Klein

a we committed some the have mortgage that now has for talked in X a had in we while, as and been we all now that on to withstanding producers market us. is XX-some life, with mortgage the kind individual region, -- to and Yes. entire well and the of last PCG in -- of commercial and looking the has a experience portfolio in have happy nice He years in larger growth year. experience, the we’re him we’re bank some half million an for balances, $XX community the of lending about you X and have mortgage Indiana doing Sure. as know, Columbus that as market work. We’ve bank with reason And good an area

Brian Martin

you. Got

Okay.

be time just build kind you’re to Is this And that so the thinking? would plan around of team what a person? over

Mark Klein

Yes.

of insurance individuals. also to if helping the that with then residential, includes client started now now and also nice you able there’s staffs the we around that’s certainly commercial other started a group title the our on synergy there, Indianapolis, have that’s and is expanded going between gentlemen, the who we to and us lady, expansion those side all know, the the but indirect tag way we between be be will, with the you peak but there the market in some going in and As synergies team, to Columbus when

like We’re in looking in we last, great forward XX, years Columbus. some to what, results the XX done have

Brian Martin

Yes.

just kind then benefiting we’ve mortgage from But a And of Mark, the model of here happen seen know certainly exciting. it’s for just but Tony, maybe you, level on is No, your purchase just what just and -- on Okay. whoever, the or secondly, given high maybe refinance activity. more model. outlook,

board obviously about thinking you Just kind margins you’re in the how a lower provide gain across volume where industry. to of thinking any kind change on the kind sounds of like about bit context the that, they’re the how But sale of you’re it? -- can just It are? on little

Mark Klein

clean know, given our the gains all volume certainly, down market in PCG built probably as us you the for been we on and expand as dipped to obviously, us. only that up. in nice mentioned well, $XXX Brian, continue grin not and but Much world, hit this Yes, sale, some balances. $XXX great toe and we’re worse million. but But as is it’s we the I Columbus. million to for also, the But It’s Indianapolis

so And like. more bringing additional deliver on structure, our people which with some we’re is speak. going people a expectation our Tony, comments? as cost And some numbers, variable albeit we we and we’re to

Tony Cosentino

Yes.

volume, be do a the I it’s person I down. look do I going think, think as Brian, play. we to say market generally at is

changeover. I Our anomaly a down, reported kind line I in XX% XX%. the do bit will settle do a rates. into of year-over-year that’s first with it is think of XX% think because kind between numbers everybody are it, on call with an of far somewhere as as quarter year-over-year are craziness a XX% of basis and

to us backing to that advantage are take some up out. people be will it maybe So of

market. been of side, yield do has the this the bottom the I On think

gotten And we the good because our at I get bit range year, quarter it. that We’ve helping this on will I like percentage very the good that is us a we the line. had a And I’d what to a bring us for The trend to [we’ll first the I’m number quite hopeful and of have lenders pricing. very that think do high back that’s was we X.X to us. quarter of team And by of end X.X X.X hedge especially that think tough up, finish contract in very very achieve]. important

Brian Martin

you. Got

I base mean, on about kind XX% you Or at just to of you’re kind volumes, it just that within is XXXX, -- total is the the of of maybe how ‘XX? And look Okay. kind for be it’s off if haircut clear of that of of...? thinking kind the

Tony Cosentino

Yes. ‘XX. I mean and $XXX ‘XX million in million in we did $XXX

have I’d XX%, that denominator. target million as really of say a look but somewhere ground, all kind we If a higher chance as $XXX So we today, we’re $XXX that’s to in think get on we we people on that maybe on end. out million the to dependent have more I the range sit

Brian Martin

Yes. No, makes that sense.

sound optimistic Or front, positive any of nice loan guess on pipeline sounds the appreciate of on just last the one mean you of you I you’re just context these that sustainable? customers X maybe here, just kind growth? good. are on they’re I -- -- And your Okay. I trends guess, optimistic growth from what kind hearing it. of are the how -- like a of trends. loan had just And you -- either you are X quarters couple I you just

Mark Klein

on make the Yes. here, we’ve what you’re many in the for fundamentals. we comments seeing quarters, But some and as Thanks, to can pipeline. certainly Brian. stick he communicated Steve is

know competition the One lower kind at traction we different if fundamentals, key, it’s calls. one all a month, making may calls, good we’re next markets. month, rates some some we’ll finding million make we’re million $X [indiscernible] market. think joint coming be where we’ll to have contribution. $X albeit And drawing in we we finding market we and And pretty be want maybe that’s make and You those of but from the individual to stick we things,

our diversity our pipeline. everyone’s geography, we’re I of growth in we and Steve, seeing love generally probably know, So

Steve Walz

in exactly markets well you broad-based as markets. reiterate Yes, about what I absolutely, the our rural urban said footprint, we’ve our seen would both our as Mark. growth

coming as Solid they our we out as which quarter, were the good quarter. pipelines pipelines, the out are here in fourth of certainly today QX realized fourth in in coming

we where I So in quarter. good the feel are about second

Brian Martin

maybe today seems high given mid- your to I optimism the single-digit and be single pipelines Okay. year growth -- mean are the to general where upper for the that outlook? attainable, kind of digit

Steve Walz

of hard it third expect to loan today, we available but remain some they she expectations global to I see growth talking about, hard is the that work are interest but anything, the we hear environment and supply, what certainly the still important with quarter. have may is from particularly and amount anticipate And fourth Brian, that fourth the believe probably supply borrowers, continued become maybe think management’s be reasonable. to supply, and of we’re We steady on opportunities what the those it. -- get reduced. is quarter, growth as equipment rate we goes, But it’s cases, high. of would as in labor and in as those And do some to to effect variable don’t constraints waiting third assets clients constraints constrain merely as

that the on and DM in expectations predicated the top double lending love pretty don’t digit. crude but We We digit. we low quartile in practice, of we underwrite at how single how high to our back. steadfast we’re we remain our So getting be and it loans want do

remain of drives our a calling high expectations So and that lot efforts.

Brian Martin

Yes.

-- about the sounds the elevated out? and sheet the rate the from today, increases given how growth just guess you of kind potential And the good. impacts the a level this of do that? really context the to rate maybe things any then just just hikes rate just how and loan Is and from how margin? here? kind thinking put of just will mix cash And rate but -- you’re sheet it Does influence I play on, of things the guys the balance that grow impacts of how it of margin remix And mixing and Okay. are the on you maybe liquidity, securities? balance kind -- it No,

Mark Klein

Great Brian. question, Yes.

think I a sure are that banks lot. all

[X.XX]. were net or margin As we we QX, in look PPP at where at

optimistic, I that biggest got, about in X% growth, obviously, on million going which verge by is as as to we’re this The $XXX variable, part be seen X% number. it it. QX. is think of call and ever we’ve percent, growth to end only that loan -- call puts been related on well it, of of obviously $XXX a the extremely million, I’ve the bulk we’ve that the kind it. of XX-plus bullish, margin year, say, but I That’s would directly portfolio contingent our is about of just of us

And end pop that the call we number get have, of an and the going points immediate year. So move XXX of the it, will where of That’s million between rate think rises the basis portfolio we’ve rest there’s variable on time. and $XXX we’ll we now to over of XXX then modeled. the kind to be,

feel good are. where generally, I So we think about we

basis asset. about current loan line which XX% other move, with community think bank is what -- Our every is bank about in cut we sensitivity or it XXX point in

we we’re would say are that’s I So looking what and kind at. that were of

Brian Martin

that are still you or How Tony. the mix, deposit the about flows just in seeing if of just grow a remixing how and And simplest the it margin you about Or loans thinking terms -- improve you’re balance today are really bit sheet fund it to more maybe balance it that from you is is Okay. liquidity here? a expansion? sheet the and have to adds from the grows

Mark Klein

Yes.

portfolio growth of we’re think opportunistic higher as going $XXX-plus income deposits. up anticipate if on question mortgage And of because amortization. the that’s kind the us much we’ll think and don’t gets sustain predominantly bit I deposit I big moving to moves than little we see do get million I added peaked. selfishly in money loan I for that sidelines it kind We’ve net that is to down bond normal moved cash all the to a gradually into we think side, left think of of the us. I do begin that that. has move we today, got on

So base, QX our the for just billion or I all in was I because of we’ll of us. billion which be mix mean reallocation. about some co-asset so change, at I and it’s the think end think $X.X $X.XXX

Tony Cosentino

I the Brian, have time wildcard, a I because we’re referral in all about keep less this but I X,XXX and to household. track not It’s each X it perspective than say on, other The the that watch service additional and households it. only of interested

to portfolio expand to We’re working mortgage the hard work that we last that really hard years. XX in find

to know rebalance wildcard a for only that continues expectations So but that be not are And I also our we with mix us. one’s we expand the scale.

So we know that’s opportunity. an

advantage the to for years. which think I done in last what that sheet, build continue we’ve deliver balance to is an We the XX

Brian Martin

as potential on Or sense. expenses year? are hire to pressures the you to at the it, in on No, I the outlook, pretty competitive look to if me seeing are expenses run where marketplace people. a with guess of I the you just the market off Yes. expense in given higher going just the right. rate guess, front. balance for guess, we’re good given on need I and last build look what the what’s is inflationary levels All you Maybe the seeing just X makes that today, of was the

Mark Klein

have But to for We’ve is model, We’ve on adjusted gathering that think and scale. times. which rise, the head them benefits We but we’re those on we witnessed strong staffing. fairly so on We’ve we staff, headwinds ahead, as why continue mentioned, based identifying Well, good side. our a we on. Brian. mortgage vertical on exited nail -- great certainly you hit a do several some power addressed the have a

technology bit which terms right way as And slows up will we our rates of many be in won’t the be is spend on incentives a obviously, of -- commission maybe have going as got slightly if happens. comments that’s with -- that other there think a I any hope compensation our be account openings, having down, we I P&L. are And rise but more we because bit, without on our to that think think Tony, effect expense expense course, But to there. went down. and answer still the one. when all I

Tony Cosentino

Yes.

that we’re same I is else the what think everybody about pressures talking seeing.

I is have it, with put call reserve. way that we different to it put -- base and total, some our things money, way -- net I more the a technology we done put could and at kind I in income think probably would look PPP think of a mortgage our we

I think and we the we’ve over to that gives got ability our encounter We have raises the over XX of know some months. to here maybe next So to expense us certainly grow at be first right a their and upon good there But variable. upon things. was, your base to think a opportunities move structure where based will and I mortgage other look statement volume it’s

Brian Martin

you. Got

I And in the of the expectation But then that like the just least how return. there’ll and that that, expectation Assuming you’re stock be near market continues, is Okay. the of think buyback was the last just capital continued -- at It is the sounds cooperates, the that on least one opportunistic the the some term? further repurchases on at with price. expectation depending on kind the

Mark Klein

we think last and done our year, generated the capital, value runway we’ve for I and would quarters absolutely. these got levels good the did we at we’ve quarterly in a Yes, year. think for great left authorization. look a internally it’s -- next stay at existing raises. this our still We we of number issuance We still debt it capital of could got a probably X still QX on but

think strategic. to an what able don’t any or aggressive need we to buyback having from do So being way we in quickly do

Brian Martin

much the how And good]. Right. on today, -- -- will I if is not, Tony you or it left right buyback if look you don’t have [it know if now, be can

Tony Cosentino

If to rather then [indiscernible]. [warm probably got somewhere It’s that QX, at we down] -- XXX,XXX-ish, for in we’re the XXX some that looking kind -- quarter and probably range. of

Operator

Mark further there turn Klein. If are back questions, call Instructions] will [Operator no now the to I

Mark Klein

bye. forward for speaking the XXXX. look in to joining joining. with us everyone Thanks July year for you QX Thank good And Certainly morning. or you here this in

Operator

and you, Today’s all attending. Thank for has you thank presentation everyone. concluded, now we

now You may day. a wonderful lines. have And disconnect your

SB Financial (SBFG) 30 Apr 222022 Q1 Earnings call transcript