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Basis of Presentation | 6 Months Ended
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Jun. 30, 2015
Basis of Presentation [Abstract] |
BASIS OF PRESENTATION | NOTE 1 – BASIS OF PRESENTATION SB Financial Group, Inc., an Ohio corporation (the “Company”) is a bank holding company whose principal activity is the ownership and management of its wholly-owned subsidiaries, The State Bank and Trust Company (“State Bank”), RFCBC, Inc. (“RFCBC”), Rurbanc Data Services, Inc. dba RDSI Banking Systems (“RDSI”), and Rurban Statutory Trust II (“RST II”). In addition, State Bank owns all of the outstanding stock of Rurban Mortgage Company (“RMC”) and State Bank Insurance, LLC (“SBI”). The consolidated financial statements include the accounts of the Company, State Bank, RFCBC, RDSI, RMC, and SBI. All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions for Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The financial statements reflect all adjustments that are, in the opinion of management, necessary to fairly present the financial position, results of operations and cash flows of the Company. Those adjustments consist only of normal recurring adjustments. Results of operations for the six months ended June 30, 2015, are not necessarily indicative of results for the complete year. The condensed consolidated balance sheet of the Company as of December 31, 2014 has been derived from the audited consolidated balance sheet of the Company as of that date. For further information, refer to the consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The following paragraphs summarize the impact of new accounting pronouncements: Accounting Standards Update (ASU) No. 2015-05: Intangibles – Goodwill and Other (Subtopic 310-40, Software) The ASU provides guidance for the customer’s accounting treatment for fees paid in a cloud computing arrangement. Existing generally accepted accounting principles (GAAP) does not include explicit guidance regarding this topic. Specifically the ASU indicates how to handle cloud computing arrangements when a software license does and does not exist as part of the arrangement. The amendments in this update are effective for reporting periods beginning after December 15, 2015 and management does not believe this update will have a material impact on the Company’s consolidated financial statements. ASU No. 2015-03 (Sub Topic 835-30): Interest – Simplifying the Presentation of Debt Issuance Costs This ASU simplifies the presentation of debt issuance costs, with the amendments in this Update requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The amendments in this update are effective for reporting periods beginning after December 15, 2015 and management does not believe this update will have a material impact on the Company’s consolidated financial statements. ASU No. 2015-02, Consolidation (Topic 810): This ASU changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Management does not believe that the implementation of this update will have a material impact on the Company’s consolidated financial statements. ASU No. 2015-01, Extraordinary and Unusual Income Statement Items (Sub Topic 225-20): Simplifying Income Statement Presentation by Elimination of Extraordinary Items This ASU eliminates from GAAP the concept of extraordinary items. Included is the following criteria that must be met for extraordinary classification: 1. Unusual nature – a high degree of abnormality. 2. Infrequency of occurrence – not reasonably expected to recur. Management does not believe that the implementation of this update will have a material impact on the Company’s consolidated financial statements. ASU No. 2014-17, Business Combinations (Topic 805): Pushdown Accounting. This ASU provides guidance on whether and at what threshold an acquired entity that is a business or nonprofit activity can apply pushdown accounting in its separate financial statements. An acquired entity may elect the option to apply pushdown accounting in the reporting period in which the change-in-control event occurs. Management does not believe the amendments will have a material impact on the Company’s consolidated financial statements. ASU No. 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract is more Akin to Debt or to Equity. This ASU provides guidance for an entity when hybrid financial instruments are issued in the form of a share. The entity should determine the nature of the host contract by considering the economic characteristics and risks of the entire financial instrument. The determination of these host characteristics may meet the definition of a derivative financial instrument. Management does not believe the amendments will have a material impact on the Company’s consolidated financial statements. ASU No. 2014-15, Presentation of Financial Statements – Going Concern (Sub Topic 205-40. This ASU provides guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. Management does not believe the amendments will have a material impact on the Company’s consolidated financial statements. ASU No. 2014-12 (Topic 718): Compensation – Stock Compensation The ASU provides guidance for the accounting treatment of share-based payments when the terms provide that a performance target could be achieved after the service period. The treatment requires that the target achievement after the service period be treated as a performance condition. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. Management does not believe this update will have a material impact on the Company’s consolidated financial statements. ASU No. 2014-09 (Topic 606): Revenue from Contracts with Customers The ASU affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets unless those contracts are within the scope of other standards. The core principle is that an entity should recognize revenue in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Management does not believe that the implementation of this update will have a material impact on the Company’s consolidated financial statements.

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