<SEC-DOCUMENT>0001213900-15-008116.txt : 20151102
<SEC-HEADER>0001213900-15-008116.hdr.sgml : 20151102
<ACCEPTANCE-DATETIME>20151102145729
ACCESSION NUMBER:		0001213900-15-008116
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151027
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151102
DATE AS OF CHANGE:		20151102

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SB FINANCIAL GROUP, INC.
		CENTRAL INDEX KEY:			0000767405
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				341395608
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36785
		FILM NUMBER:		151190340

	BUSINESS ADDRESS:	
		STREET 1:		401 CLINTON ST
		CITY:			DEFIANCE
		STATE:			OH
		ZIP:			43512
		BUSINESS PHONE:		4197838930

	MAIL ADDRESS:	
		STREET 1:		401 CLINTON STREET
		STREET 2:		PO BOX 467
		CITY:			DEFIANCE
		STATE:			OH
		ZIP:			43512

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RURBAN FINANCIAL CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k102715_sbfinancial.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">UNITED
STATES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SECURITIES
AND EXCHANGE COMMISSION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Washington,
D.C. 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">FORM
8-K</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CURRENT
REPORT</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date
of Report (Date of earliest event reported): <U>November 2, 2015 (October 27, 2015)</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; padding: 0pt; text-align: center; border-bottom: Black 1.5pt solid">SB FINANCIAL GROUP, INC.</TD>
    <TD STYLE="width: 25%; padding: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Exact
    name of registrant as specified in its charter)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
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    <TD STYLE="width: 32%; padding-top: 0pt; padding-right: 0pt; border-bottom: Black 1.5pt solid; padding-left: 0pt; text-decoration: none; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ohio</FONT></TD>
    <TD STYLE="width: 2%; padding: 0pt 0pt 1.5pt; text-align: center; text-indent: 0pt; text-decoration: none"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 32%; padding-top: 0pt; padding-right: 0pt; border-bottom: Black 1.5pt solid; padding-left: 0pt; text-decoration: none; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0-13507</FONT></TD>
    <TD STYLE="width: 2%; padding: 0pt 0pt 1.5pt; text-align: center; text-indent: 0pt; text-decoration: none"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 32%; padding-top: 0pt; padding-right: 0pt; border-bottom: Black 1.5pt solid; padding-left: 0pt; text-decoration: none; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34-1395608</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(State
or other jurisdiction of</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">incorporation or organization)</FONT></P></TD>
    <TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Commission
    File Number)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(IRS
                                         Employer<BR>
</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Identification
        No.)</FONT></P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;</FONT></P>

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    <TD STYLE="padding: 0pt; text-align: center; width: 25%">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center; width: 50%; border-bottom: Black 1.5pt solid">401 Clinton Street, Defiance, Ohio 43512_</TD>
    <TD STYLE="padding: 0pt; text-align: center; width: 25%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center">(Address of principal executive offices) (Zip Code)</TD>
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center; border-bottom: Black 1.5pt solid">(419) 783-8950&nbsp;&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center">(Registrant&rsquo;s telephone number, including area code)</TD>
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center; border-bottom: Black 1.5pt solid">&nbsp;Not Applicable&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0pt; text-align: center">(Former name or former address, if changed since last report.)</TD>
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font: 10pt Times New Roman, Times, Serif">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Item
2.02. Results of Operations and Financial Condition</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
October 27, 2015, SB Financial Group, Inc. (the &ldquo;Company&rdquo;) hosted a conference call and webcast to discuss its financial
results for the third quarter ended September 30, 2015. A copy of the transcript for the conference call and webcast is furnished
as Exhibit 99.1 and is incorporated herein by reference.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
information in this Item 2.02, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed to be &ldquo;filed&rdquo;
for purposes of Section 18 of the Securities Exchange Act of 1934 (the &ldquo;Exchange Act&rdquo;) or otherwise subject to the
liabilities of that Section, nor shall such information be deemed to be incorporated by reference in any registration statement
or other document filed under the Securities Act of 1933 or the Exchange Act, except as otherwise stated in such filing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Item
9.01 Financial Statements and Exhibits</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a) Not
Applicable</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b) Not
Applicable</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c) Not
Applicable</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d) Exhibits</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid">Exhibit&nbsp;No.</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid">Description</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 8%; text-align: center; text-indent: 0pt; padding-left: 0pt">99.1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 91%; text-align: left; text-indent: 0pt; padding-left: 0pt">Transcript of conference call and webcast conducted on October 27, 2015.</TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SIGNATURE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SB FINANCIAL
    GROUP, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt; width: 60%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt; width: 4%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt; width: 36%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dated:&nbsp;&nbsp;November
    2, 2015&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Anthony V. Cosentino</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Anthony V. Cosentino</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Executive Vice President
    and Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">INDEX TO
EXHIBITS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Current
Report on Form 8-K</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dated
November 2, 2015</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: center; text-indent: -72pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SB
Financial Group, Inc.</FONT></P>

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    <TD STYLE="width: 8%; text-align: center; text-indent: 0pt; padding-left: 0pt">99.1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 91%; text-align: left; text-indent: 0pt; padding-left: 0pt">Transcript of conference call and webcast conducted on October 27, 2015</TD></TR>
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    <TD STYLE="padding: 0pt; line-height: 115%; font-size: 18pt; text-indent: 0pt"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">SB
    Financial </FONT></TD>
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    <TD STYLE="padding: 0pt; line-height: 115%; font-size: 18pt; text-indent: 0pt"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">Third
    Quarter 2015 Financial Results <BR>
Conference Call and Webcast</FONT></TD>
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    <TD STYLE="padding: 0pt; line-height: 115%; font-size: 18pt; text-indent: 0pt"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">October
    27, 2015 at 2:30 PM Eastern</FONT></TD>
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    <TD STYLE="padding: 0pt; text-indent: 0pt"><P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>CORPORATE
                                         PARTICIPANTS</B></FONT></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Mark
        Klein </B><I>&ndash; Chairman, President, and CEO</I></FONT></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Tony
        Cosentino</B><I> &ndash; Chief Financial Officer</I></FONT></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Jon
        Gathman</B><I> &ndash; Senior Lending Officer </I></FONT></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Melissa
        Short </B><I>&ndash; Executive Assistant, Corporate Secretary</I></FONT></P></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PRESENTATION</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operator</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Good
day and welcome to the SB Financial's Third Quarter 2015 Financial Results Conference Call and Webcast. At this time, I would
like to inform you that this conference is being recorded and that all participants are in listen-only mode. We will begin with
remarks by Management and then open the conference up to the investment community for questions and answers. I would now like
to turn the conference over to Melissa Short. Please go ahead.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Melissa
Short </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Good
afternoon, everyone. I would like to remind you that this conference call is being broadcast live over the internet and will also
be archived and available on our website at www.yoursbfinancial.com under the Investor Relations tab. Joining me today are Mark
Klein, Chairman, President and Chief Executive Officer; Tony Cosentino, Chief Financial Officer; and Jon Gathman, Senior Lending
Officer. Before I turn the call over to Mr. Klein, let me add that this call may contain forward-looking statements regarding
SB Financial Group's financial performance, anticipated plans, operational results and objectives. Forward-looking statements
are based on Management expectations and are subject to a number of risks and uncertainties that could cause actual results to
differ materially from those expressed or implied on our call today. We have identified a number of different factors within the
forward-looking statements at the end of our earnings release and you are encouraged to review those factors. SB Financial Group
undertakes no obligation to update any forward-looking statement, except as required by law, after the date of this call. In addition
to the financial results presented in accordance with GAAP, this call will also contain certain non-GAAP financial measures. I
will now turn the call over to Mr. Klein.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Mark
Klein </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Thank
you, Melissa, and good afternoon everyone. Welcome to our third quarter webcast. We issued our earnings release yesterday and
those details are available on our website as well. Once I make some general comments about our quarterly performance, I will
have Tony Cosentino, our CFO, provide more details on our underlying performance metrics, and finally, I will close with some
perspective on our markets.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Highlights
for the quarter include our operating results were quite strong and revealed our best performance since 2003. GAAP net income
for the quarter was $2.26 million or $0.41 per share representing a significant increase of more than 49.6% or approximately $750,000
over the prior year quarter and a strong 13.7% or approximately $270,000 improvement over the linked quarter. Considering our
recent preferred convertible issue fully converted, our net income available to common shares is up more than 33% or $500,000
with earnings per share of $0.35. This quarterly performance represents a fully diluted earnings per share improvement of more
than 12.9% from the linked quarter of $0.31.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Top
line revenue grew 9.46% over the prior year quarter but was down slightly from the linked quarter, and expenses declined 3.8%
and 2.82% respectively. Likewise, our efficiency ratio improved to 65.6% or an 11.67% improvement over the prior year quarter
but down slightly from the linked quarter.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Wealth
management revenue increased to $655,000 or a 2.7% increase over the prior year quarter but a decline of more than 4% from the
linked quarter. Mortgage origination volume for the quarter was $87 million or an improvement of more than 28% over the prior
year quarter but a decline of 7% over the linked quarter.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">With
more than 90% of our volume new to State Bank for the quarter, our servicing portfolio grew to an all-time high of $751 million,
representing an improvement of 16% over the prior year quarter and 3.8% over the linked quarter. Asset quality metrics and portfolio
performance are stable with the exception of one loan in non-performing status that I will ask Jon Gathman, our Senior Lender,
to address momentarily.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
SBA loan generation strategy continues to provide momentum in non-interest income. And finally, assets under our care, including
$310 million in assets under management, $750 million residential real estate servicing portfolio, and $719 million in our traditional
banking assets, collectively now stands at $1.8 billion.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">To
ensure we remain on our path of improvement, we continue to pursue five key strategic initiatives we identified to lead us to
and maintain that high performance. As we&rsquo;ve disclosed in prior webcasts, these five are diversifying our revenue streams,
strengthening our penetration in all markets served, expanding product service utilization by new and existing clients, delivering
gains in operational excellence, and sustaining asset quality. And now a bit of expansion on each.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Revenue
diversity goals continue to drive key initiatives. These sources include assets under management on our wealth management business
line, residential mortgage and SBA loan sale gains and deposit service fees. These continue to form the foundation of our top
quartile performance that now stands above our strategic vision of top quartile performance at the 77th percentile when comparing
our return on average assets among our 64-bank peer group in the United States. Collectively, these sources comprise more than
39% of our total revenue this quarter and more than 40% year-to-date.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Loan
sale gains remain a key driver of our performance improvement. Mortgage banking net revenue expanded more than 3.28% from the
year ago quarter but declined to 22% from a very robust linked quarter. Our gain on sale percentage for the quarter remained strong
at 1.49%. 86% or $221 million of our loan production through the third quarter was new money to State Bank and 14% or $35 million
was refinanced loans. This past quarter, our Columbus region continues to lead the way with more than $51 million followed by
the Defiance region at $25 million, and our newest region in Findlay, Ohio that we announced last quarter, originated more than
$10 million. We have expanded to 18 mortgage lending officers up from 13 at year-end to drive our presence in all six of our regions.
To ensure our presence in this space remains meaningful, we have recently leveraged our expertise into new markets of Tiffin,
Ohio and in the coming quarter, we&rsquo;ll have our first presence in the Michigan market.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Another
initiative to bolster non-interest income and drive more revenue diversity remains agriculture and small business lending loan
sales. Agricultural loan sale gains this quarter were $26,000 and SBA loan sale gains were $271,000. Collectively, all loan sales
provided $1.98 million or 50% of our total non-interest income and 19.8% of total revenue. Together this non-interest income expansion
plus expense control continued to be the key drivers of the improved efficiency ratio.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Wealth
management revenue continues a key segment of our non-interest income initiative. We have begun to reach deeper into newer markets
like Findlay and Toledo and now have plans to obtain the expertise needed to service clients in our new full service office of
Columbus as well. A strong pipeline across all regions coupled with a great strategic fit for our brand continues to drive our
dedication to grow and further develop this 50-year-old division.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Finally,
our item and statement processing operation at our affiliate RDSI and DCM recently developed a strategy to partner with FF&amp;S
of Noblesville, Indiana. We have addressed all of the operational issues that surfaced at our technology division during the exit
of data processing and are now ready to leverage our resources and capabilities for FF&amp;S's 270 community banking clients predominantly
in the Midwest. Our goal now is to grow this business line and drive fee-based revenue to higher levels. Our second initiative
continues to be to grow our market share by increasing our presence in low share, high growth markets.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
are well into the development of our newest market in Findlay, Ohio. Our professional team is now completely in place and includes
a strong market leader, an experienced private client professional, a seasoned wealth management advisor and support staff. Our
approved, ready-to-close loan pipeline today stands at $10.4 million. Our prospects for organic, franchised growth in one of Ohio's
more stable healthy markets remain strong.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
continue to advance our residential real estate and commercial staff and their expertise into more households in the greater Columbus
market. As a result of our past success, we will formally open our new office in Dublin, Ohio in November, a slight delay from
our plan to open in August. We have consistently demonstrated our ability over the last seven years to compete in this high-growth
market in both mortgage and commercial lending arenas. This past success, however, pales in comparison to our potential as we
are even more encouraged that our increased exposure with this new facility will provide new avenues to even more opportunities.
We also intend to retain our presence in the New Albany, Ohio market as well.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Third
is our desire to expand product service utilization by new and existing clients. With marginal population growth in our rural
markets comes the impetus to sell deeper into existing households. This process of proactively identifying and recommending appropriate
solutions for our clients for cross selling remains the heart of our growth initiatives. Supporting this initiative is our on-boarding
focus for new State Bank clients. As a result of these efforts this past quarter, our business lines expanded our net number of
households by 226 to nearly 26,000 households, and the number of bank services by 834 to over 40,000 services. Addressing client
needs with insight and innovation remains the center post for our brand improvement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Finally,
as we have discussed since 2006 our business lines continue to work interdependently to first and foremost provide prudent client
solutions and secondly to drive a sustainable competitive advantage for our Company. This collaborative approach produced 714
referrals to business partners this last quarter that led to 314 closed referrals, accounting for over $18 million in additional
business. This strategy builds our client base, leverages our individual contacts, and best serves the interest of all of our
stake holders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
fourth key theme required for us to deliver on our performance improvement commitment is operational excellence. This focus is
no more apparent than in our ability to deliver seamless service to those 26,000 households. As a result, when compared to the
year ago quarter our loan balances increased to $540 million or by 6.9%, assets increased over $719 million or 8.2%, and deposits
increased to nearly $574 million, or more than 7%. Our strategic initiatives are working. Our ability to attract a client and
retain them for life rests with our proficiency in providing a world-class banking experience.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">And
now for our fifth and final strategy, maintaining asset quality. We continue to emphasize conscious client prospecting first,
active lender loan administration second, and timely receipt of financial reporting, third, as we bind each component in a comprehensive
relationship analysis annually. This well-defined and integrated process has led us to achieve some top quartile performance metrics.
Our portfolio is sound and our process is comprehensive. This quarter, past due loans remain an acceptable 1.18%, charge-offs
are well contained at $29,000 or 2 basis points, and comparable for the prior year quarter and significantly lower than the 25
basis points from the linked quarter, and our allowance as a percentage of total loans remain stable at 1.31%. On the down side,
non-performing assets increased to $8.5 million or 1.18% of total assets; however, still in the top quartile of our peer group.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Before
I turn the call over to Tony Cosentino for more detail on our quarterly performance, I'd like have Jon Gathman, our Senior Lender,
comment briefly on the recently identified addition to our non-performing assets. Jon?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Jon
Gathman </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Thank
you, Mark. As Mark just stated, while we remain pleased with our overall asset quality, the third quarter saw a significant relative
increase in our non-performing assets due almost entirely to the deterioration of one large commercial credit.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
credit represented 49 basis points of our total assets compared to total non-performing as a percentage of assets at 1.18%, or
41% of our total non-performing assets. This relationship has been adversely classified for almost two years and we have been
monitoring the credit closely. In addition, we have had iterative negotiations with the borrower during that entire time. Nonetheless,
this commercial real estate loan deteriorated to the point that non-performing status was warranted, but we remain vigilant in
our pursuit of full collection. We believe we have the credit addressed appropriately and conservatively in our allowance and
will have it resolved in short order. I will now turn the call back over to Mark.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Mark
Klein</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Thank
you, Jon. At this time, I'd like to ask Tony, our CFO, to give us some more details on our performance this quarter. Tony?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Tony
Cosentino </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Thanks,
Mark. As Mark has said, a very strong earnings quarter with GAAP net income for the quarter up 50% from the prior year at $2.3
million or $0.35 per diluted share. Net income available to common was up 35% from the prior year as we had the full effect of
the TRUP payoff with our preferred equity raise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Now,
let's start with a few high-level comments on some of the factors that affected our results.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">First,
total revenue on a fully taxable equivalent basis was up 9.3% from the prior year, but down just slightly 1.8% from the linked
quarter. Second, loan growth up to $35 million over the prior year, or 6.9%, and finally, the impact of the early payoff of our
trust preferred securities in the third quarter of 2014 resulted in an improvement in net interest margin of 17 basis points for
the quarter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Now,
as we look at our results in the context of Mark's comments on our strategic initiatives and overall industry conditions, starting
with the income statement. Specifically, margin on the revenue front, net interest income on a fully taxable equivalent basis
was up 13.2% from the prior year and up from the linked quarter by 5.3%. End of period loan balances up $35 million from the prior
year and were up $18.5 million or 3.5% to the linked quarter. Thus far in 2015, we have added $24.6 million in loan outstandings
to our balance sheet. The yield on earning assets only declined 2 basis points from the prior year and compared to the linked
quarter yields on earning assets were up 9 basis points as growth in pricing were higher this quarter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
the funding side, we continue to reduce our cost of interest bearing liabilities which came in at 49 basis points. This was down
27 basis points from the 76 basis points in the third quarter of 2014. Net interest margin at 3.87% was up 23 basis points from
the prior year and up 11 basis points from the linked quarter. Absent the impact of the 10.6% TRUP pay-off in the third quarter
of 2014, funding costs would have been down 9 basis points and the adjusted margin would have been 3.70%.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Regarding
the rest of our balance sheet, we have slightly increased the size of our bond portfolio to accommodate pledging requirements
and supplement liquidity. Our expectation is that the relative parts of the balance sheet will stay in this proportion as we grow
in coming quarters.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Now
turning to fee income, for the quarter, mortgage originations of $87 million were up $19.5 million or 29% from the prior year
third quarter, but down $6.6 million or 7.1% from the linked quarter. Total gains on sale came in at $1.7 million, which is in
excess of 2.4% on our sold volume of $70 million. Our servicing portfolio of $751 million provided revenue for the quarter of
$459,000. This servicing portfolio is up more than $100 million since the third quarter of 2014. The mixed pricing and disciplined
selling have enabled us to sell 84% of our origination volume over the last year to our partners.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Servicing
rights on the portfolio continue to gain in value. At September 30th, these rights were $6.8 million, which is a $1.1 million
or 19% improvement over the third quarter of 2014. We still have a slight impairment remaining of $361,000, which was increased
this quarter with an $138,000 impairment. The earnings impact of our servicing rights impairment was a swing from the linked quarter
of $406,000. This was the reason that revenue growth was down from the linked quarter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Small
business lending continued its strong performance this quarter. We sold $2.4 million in loans for gains of $271,000 in the quarter,
significantly above the prior year and slightly higher than the linked quarter. As we look at our year-to-date performance, we
have sold $6.7 million in loans for total realized gains of $718,000. Our gains were up for the year over the prior year by $628,000.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other
fee income for the quarter at $2.0 million was up 3.1% from the prior year and flat to the linked quarter. The growth was driven
by Farm Service Agency gains and increases in service fees on our new relationship reward deposit products and partially offset
by declines in our wealth management fees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Turning
to the expenses, this quarter we were down $262,000 or $3.8% from the prior year. And compared to the linked quarter, expenses
were also down 2.8% or $191,000. This quarter included lower benefit costs and lower mortgage commissions as origination volume
was down slightly. As we look at our year-to-date expense level, we were up $495,000 or 2.5% for the full year of 2015 compared
to the prior year, year-to-date performance. The increase was related to higher compensation expenses due to merit adjustments
and increased mortgage and SBA commissions. With our previously discussed 17% revenue growth year-to-date, operating leverage
for the Company is at 6.6 times.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
efficiency ratio for the quarter came in at 65.6% reflective of both the higher revenue for the quarter and a lower expense level.
On a year-to-date basis, our efficiency level, ratio level of 67.9% has improved by 11.7% from the 2014 September year-to-date
level.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Now,
as we turn to the balance sheet and asset quality, we had the best loan growth thus far in 2015 this past quarter. We were up
$35 million from the prior year and $18.5 million to the linked quarter. This growth level from this quarter would equate to a
14% annualized growth rate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Compared
to the prior year, our loan growth was more diverse this quarter. Residential real estate led the way with $19.1 million followed
by commercial real estate of $18.3 million and consumer of $2.3 million. Responsible for the bulk of the consumer growth has been
our credit card portfolio, which we started in June of 2013. This portfolio ended the quarter at $1.5 million with an average
yield of 8.9%.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
the deposit side, we were up from the prior year by $38.3 million, which is a 7.2% growth rate. Included in that growth is an
improvement in our non-interest bearing balances as a percentage of deposits to 17.9% from 16.9% one-year prior. While total assets
have grown nearly $55 million in the last 12 months or 8.2%, our balance sheet is very efficient and primed for profitability
via our asset sensitivity. Total loans are 75.2% of total assets with investments just 13.8%. Total borrowings are $57.2 million,
which are down $8 million from the prior year having been replaced by lower cost deposits and equity.</FONT>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
Mark and Jon have indicated, total non-performing assets now stand at $8.5 million with 98% in non-performing loans and 2% in
OREO properties. Included in our non-performing asset total is $1.6 million in accruing restructured credits. These restructured
loans, which were nearly all maturity extensions, added 22 basis points to our non-performing level. Absent these accruing restructured
credits, our total non-performing asset ratio would be just 96 basis points. We have three large credits that comprise 62% of
our total problem assets. Our OREO balances of $188,000 are nearly all residential real estate properties and our stated value
should match closely to proceeds upon disposition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Delinquency
levels for the Company remained stable this quarter as the large credit that moved to non-performing has been part of our 60-day
delinquency levels for some time. Finally, as we summarize our year-to-date performance, the first nine months of 2015 we were
up 17.1% on a diluted EPS basis compared to the first nine months of 2014. Our trailing 12 month diluted EPS improved to $1.19
from $1.15 at the end of the second quarter. Our higher results have been driven by the robust mortgage market, higher SBA loan
sale gains, and good expense management. I will now turn the call back over to Mark.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Mark
Klein </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Thank
you, Tony. In summary, overall, it was a great quarter for our Company and clearly the best performance in over 11 years. Our
unique combination of organic balance sheet growth, as Tony discussed, coupled with our ability to generate a fee income from
key business lines all bound by our unique geographic market diversity is providing that distinctive competitive advantage. We
intend to continue to leverage that positioning.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
commitments and resulting performance are delivering shareholder value. Over the last 12 quarters our earnings per share have
expanded by nearly 20%. Our stock price as of Friday, October 23rd rested at $10.25 or just 8.6 times trailing 12 months earnings
per share, well below the Ohio market median of 13 times. We realize the critical component necessary to achieve market recognition
of this performance rests with our ability to achieve both size and performance. It is this critical link that continues to drive
our search for strategic fits for our franchise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
consider a number of metrics that lead us to envision a strong finish to a meaningful year for our Company and the impetus to
a bright future here at SB Financial. These include our positive trends revealed in revenue and expense levels, more balance sheet
growth, efficiency and performance resulting in positive operating leverage as we align these performance metrics with our organizational
capacity; expanding national, regional, and local economies and imminent increases in short-term rates as Tony alluded to, the
asset sensitivity that will send a positive message to the investment community as well as provide margin expansion for our organization.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
performance and our strategy remain perfectly correlated and reflect the collective efforts and effectiveness of our execution.
As a result, we are pleased with our progress and our level of commitment to deliver consistently high performance. We look forward
to a strong finish to 2015. And now I'll turn the call back to Melissa for questions and answers. Melissa?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Melissa
Short</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Thank
you, Mark. Operator, we're now ready for our first question.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>QUESTIONS
AND ANSWERS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operator</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We will
now begin the question-and-answer session. To ask a question, you may press star (*) then one (1) on your touchtone phone. If
you are using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question please press star
(*) then two (2). At this time we will pause momentarily to assemble our roster.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Melissa
Short</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">While
we're waiting for questions, I would like to remind you that today's call will be accessible on our website at www.yoursbfinancial.com
under the Investor Relations tab.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operator</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Again,
if you would like to ask a question please press star (*) then one (1). The first question comes from Chas Craig of Meliora. Please
go ahead.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Chas
Craig </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Hi,
guys.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Mark
Klein </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Hi,
Chas. How are you doing?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Chas
Craig </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Good.
Thanks. How are you?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Mark
Klein </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Doing
well, thanks.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Chas
Craig</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Good.
So my question is regarding your peer group. So you often make reference to being in the top quartile of your peer group, and
then you also made a reference towards the Ohio market specifically. I just want to verify that those are two separate groups
of comparable banks, is that correct?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Mark
Klein</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Yes,
Chas. What I was referencing is the 64 banks between $500 million and $1 billion that are publicly traded in the United States.
That's the peer group we've been benchmarking our self to and again, strategically we've aspired to be in that 75th percentile
that we identified some four or five years ago, and this second quarter we've landed at the 77th percentile with our performance
coming into the third quarter.</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Chas
Craig </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Very
good. Thank you.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Mark
Klein</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Yep.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operator</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
concludes our question-and-answer session. I would now like to turn the conference back over to Management for any closing remarks.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>CONCLUSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Mark
Klein </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Thank
you once again for joining us this afternoon. We look forward to speaking with you in January for a full review of our entire
year performance for 2015. Thank you and good bye.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operator</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
conference is now concluded. Thank you for attending today's presentation. You may now disconnect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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