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SB Financial Group redeems $10.3 million of 10.6% trust preferreds
By Tali Rackner
Norfolk, Va., Sept. 8 – SB Financial Group, Inc. redeemed $10.3 million of its 10.6% fixed-rate trust preferred securities on Sept. 7, according to a press release.
The preferreds were scheduled to mature on Sept. 7, 2030.
As part of the redemption, the company will incur a prepayment penalty of about $400,000, or $0.05 per diluted share, in the 2014 third quarter.
SB Financial is Defiance, Ohio-based community banking, mortgage banking, wealth management and item processing services company.
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