Photo Release -- SB Financial Group, Inc. Announces Change to Board of
Director Thomas Sauer Retires; George Carter Appointed to Board
DEFIANCE, Ohio, Aug. 26, 2013 (GLOBE NEWSWIRE) -- SB Financial Group, Inc.
(Nasdaq:SBFG) ("SB Financial" or the "Company"), a diversified financial
services company providing full-service community banking, wealth management
and item processing services, announced today that Mr. Thomas L. Sauer will
retire as a director of both the Company and The State Bank and Trust Company
("State Bank") effective August 21, 2013. Upon the recommendation of the
Governance and Nominating Committee at its August 21, 2013 meeting, the
Company also announced that Mr. George W. Carter was appointed to serve as a
director on the boards of SB Financial Group and State Bank for the remainder
of Mr. Sauer's term, which expires in 2015.
George W. Carter
George W. Carter, newly
appointed director of SB
Financial Group, Inc.
and its subsidiary State
A photo accompanying this release is available at
Mark A. Klein, President and CEO of SB Financial Group and State Bank, stated,
"Tom has been a valued member of our Company since 2004. On behalf of all our
directors and employees, I wish to thank him for his nine years of service to
"We are fortunate that George Carter will be joining both of our boards to
serve out the remainder of Tom Sauer's term. George brings to the Company over
25 years of experience as a senior-level executive, most recently as CEO of
Paulding Putnam Electric Cooperative. George brings to our corporate boards a
strong leadership background in finance, strategic planning, business
development, and communications. These valuable areas of expertise will be
fully utilized by our board and management, and I am very confident that
George will be a great asset to both for many years to come. Speaking on
behalf of the entire organization, we welcome him to our boards."
Mr. Carter currently serves as the CEO/General Manager of Paulding Putnam
Electric Cooperative, a rural utility serving member/owners in Ohio and
Indiana, and has held this position since 2005. Paulding Putnam Electric
Cooperative has annual revenues exceeding $30 million with assets totaling
over $75 million. Mr. Carter has served on several corporate boards of
directors, including Buckeye Power, Inc., an Ohio-based generation and
transmission corporation with nearly $2 billion in assets, and United
Utilities Service, a Kentucky-based manufacturer of utility transformers and
wholesale provider of utility materials.
Mr. Carter is an active member of his community, currently serving on the
board of the Northwest Ohio Port Authority; the Buckeye Power (G&T) Board as
Trustee; the Paulding Kiwanis Club (Director); and as President of the United
Way of Paulding County. He holds a B.A. degree from Oakland University,
About SB Financial Group
Based in Defiance, Ohio, SB Financial Group, Inc. is a financial services
holding company with two wholly-owned operating subsidiaries: State Bank and
RDSI Banking Systems (RDSI). State Bank operates through 17 banking centers in
seven Northwestern Ohio counties, one center in Fort Wayne, Indiana; and three
loan production offices: two in Columbus, Ohio and one in Angola, Indiana.
State Bank offers a full range of financial services for consumers and small
businesses, including wealth management, mortgage banking, commercial and
agricultural lending. RDSI provides item processing services to community
banks located in the Midwest. The Company's common stock is listed on the
NASDAQ Global Market under the symbol SBFG.
Certain statements within this document, which are not statements of
historical fact, constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve risks and uncertainties and actual results may differ
materially from those predicted by the forward-looking statements. These risks
and uncertainties include, but are not limited to, risks and uncertainties
inherent in the national and regional banking, insurance and mortgage
industries, competitive factors specific to markets in which SB Financial
Group and its subsidiaries operate, future interest rate levels, legislative
and regulatory actions, capital market conditions, general economic
conditions, geopolitical events, the loss of key personnel and other factors.
Additional factors that could cause results to differ from those described
above can be found in the Company's Annual Report on Form 10-K and documents
subsequently filed by SB Financial Group with the Securities and Exchange
Commission.Forward-looking statements speak only as of the date on which they
are made, and SB Financial Group undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after the date on
which the statement is made except as required by law. All subsequent written
and oral forward-looking statements attributable to SB Financial Group or any
person acting on its behalf are qualified by these cautionary statements.
CONTACT: Investor Contact Information:
Anthony V. Cosentino
Executive Vice President and
Chief Financial Officer
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