SB Financial Group, Inc. (NASDAQ:SBFG) Q1 2024 Earnings Call Transcript

Anthony Cosentino: Yeah, I think those are all spot on. I think we’ve been in this 225 to 230 gain on sale. 85% of our volume really is saleable. I think the pipeline is certainly improved. I do think we’re going to have a decent second quarter. It feels like the pipeline continues to get refilled when a client falls out, which is usually a good sign that there’s activity out there. We’ll see if it holds up. The little increase in rates actually drives volume a little higher because people get a little fearful that rates are going to continue to move. So if we get any stabilization or slight move down, I do think they’ll get even more flush.

Brian Martin: Gotcha. Okay. And maybe just the last one for me was just on, you guys have done a great job on the expense side, just kind of trying to think about, you know, is there still opportunity to take that lower? Is it kind of at a good level today, just given, you know, the heavy lifting you’ve already done? Just big picture how we think those trends here in the coming quarters or any initiatives you have in place on those?

Mark Klein: Well, we’ve certainly tried to right-size the mortgage business line, Brian, but as we’ve proclaimed before, and as you well know, we’ve built this thing for growth, and when the economy looks to be stalling a bit from the current levels of interest rates. You know, that – it’s a particular conundrum to us because we have a fair amount of fixed rate commercial lending basis, if you will, that are not variable based or, fixed. And so this thing is built, and we built it consciously for production. So that’s what we need to be doing, and that’s the work that we have to put in. But generally speaking, we’re bullish on what we can do, and we just got to outwork the competition, is what we’ve always proclaimed.

Brian Martin: Got it. Okay. Well, that’s all I had, guys. I appreciate you guys taking the questions. Thank you.

Mark Klein: Thanks, Brian.

Anthony Cosentino: Thanks, Brian.

Operator: [Operator Instructions] This concludes our question-and-answer session. I would like to turn the conference back over to Mark Klein, CEO, for any closing remarks. Go ahead, please.

Mark Klein : Thank you, and certainly once again, thanks for joining us this morning. We look forward to speaking with you in July for an update on our second quarter 2024 results. Thank you for joining. Goodbye.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.