SBFG — what changed in the latest 10-Q
A section-by-section comparison of SBFG's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-06 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +13 | −4 | ~19 | 42 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 4 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-06
Consolidated Noninterest Expense: Total noninterest expense for the second quarter of 2026 was $12.1 million, which was up $0.3 million compared to $11.9 million in the prior-year second quarter. The quarter included higher expenses related to incentive accruals and other employee benefits.
Six Months Ended June 30, 2026, compared to Six Months Ended June 30, 2025
Net Income: Net income for the first six months of 2026 was $8.8 million compared to net income of $6.0 million for the first six months of 2025, an increase of $2.8 million, or 46 percent. DEPS of $1.41 for the first six months of 2026 were higher compared to the DEPS of $0.93 for the first six mon…
Provision for Credit Losses: The provision for credit losses for the first six months of 2026 was $513,000 as compared to a $984,000 provision for the prior year first six months. The Company had net chargeoffs of $219,000 for the first six months of 2026 compared to net chargeoffs of $130,000 for t…
Consolidated Revenue: Operating revenue, consisting of NII and noninterest income, was $35.4 million for the first six months of 2026, an increase of $2.8 million, or 9 percent, from the $32.6 million generated during the first six months of 2025.
Text removed vs the prior filing · source: 10-Q · 2026-05-07
Consolidated Noninterest Expense: Total noninterest expense for the first quarter of 2026 was $11.9 million, which was down $0.5 million compared to $12.4 million in the prior-year first quarter. The quarter included higher expenses related to increased mortgage activity and various expenses related…
Borrowed funds (consisting of FHLB advances, repurchase (“REPO”) agreements, trust preferred securities and subordinated debt) totaled $67.0 million at March 31, 2026. This was down slightly from year-end 2025 when borrowed funds totaled $77.3 million. Total shareholders’ equity for the Company of $…
As of March 31, 2026, based on the computations for the FFIEC 041 Consolidated Reports of Condition and Income filed by State Bank with the Federal Reserve Board, State Bank was classified as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as well ca…
State Bank’s actual capital levels and ratios as of March 31, 2026, and December 31, 2025, are presented in the following table. Capital levels are presented for State Bank only as the Company is exempt from quarterly reporting on capital levels at the holding company level:
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice