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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.