SB Financial Group in Defiance, Ohio, is looking to raise nearly $25 million by selling common stock.
The $877 million-asset company said Monday in a regulatory filing that it would use the funds for general corporate purposes, adding that it was well positioned for M&A opportunities. The company's last bank acquisition was its December 2008 purchase of NBM Bancorp.
SB could sell another 3.8 million shares if there is enough demand.
The company touted its “seasoned and talented management team” and track record of “superior earnings with multiple business lines,” according to a presentation tied to the offering.
SB's fourth-quarter profit rose 74% from a year earlier, to $4 million. The increase was in partly due to recapturing $1.7 million from its deferred tax liability.
FIG Partners is serving as the offering's sole book-running manager.
