<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001420506-25-000288</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: MANULIFE FINANCIAL CORP -->
          <cik>0001086888</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>5</amendmentNo>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000767405</issuerCik>
        <issuerName>SB Financial Group, Inc.</issuerName>
        <issuerCusip>78408D105</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>401 Clinton Street</com:street1>
          <com:city>Defiance</com:city>
          <com:stateOrCountry>OH</com:stateOrCountry>
          <com:zipCode>43512</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Manulife Financial Corporation</reportingPersonName>
      <citizenshipOrOrganization>Z4</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Manulife Investment Management (US) LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>481000.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>481000.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>481000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>7.23</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>SB Financial Group, Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>401 Clinton Street, Defiance, OH 43512</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>This filing is made on behalf of Manulife Financial Corporation ("MFC") and MFC's indirect, wholly-owned subsidiary, Manulife Investment Management (US) LLC ("MIM (US)").</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The principal business office of MFC is located at 200 Bloor Street East, Toronto, Ontario, Canada, M4W 1E5.
The principal business office of MIM (US) is located at 197 Clarendon Street, Boston, Massachusetts 02116.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>MFC is organized and exist under the laws of Canada.
MIM (US) is organized and exists under the laws of the State of Delaware.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
        <typeOfPersonFiling>HC</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>MIM (US) has beneficial ownership of 481,000 shares of Common Stock. Through its parent-subsidiary relationship to MIM (US), MFC may be deemed to have beneficial ownership of these same shares.</amountBeneficiallyOwned>
        <classPercent>Of the 6,651,925 shares of Common Stock outstanding as of November 7, 2024, according to the Form 10-Q filed by the issuer with the Securities and Exchange Commission on November 7, 2024, MIM (US) held 7.23%.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>Incorporated by reference to Item 5 of the cover page pertaining to each reporting person.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>Incorporated by reference to Item 6 of the cover page pertaining to each reporting person.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>Incorporated by reference to Item 7 of the cover page pertaining to each reporting person.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>Incorporated by reference to Item 8 of the cover page pertaining to each reporting person.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>N</notApplicableFlag>
        <subsidiaryIdentificationAndClassification>See Items 3 and 4 above</subsidiaryIdentificationAndClassification>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <exhibitInfo>EXHIBIT A - JOINT FILING AGREEMENT</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>Manulife Financial Corporation</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Graham Miller</signature>
        <title>Graham Miller / Agent*</title>
        <date>02/04/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Manulife Investment Management (US) LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Paul M. Donahue</signature>
        <title>Paul Donahue / Chief Compliance Officer</title>
        <date>02/12/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureComments>*Signed pursuant to a Power of Attorney dated January 17, 2018 included as Exhibit A to Schedule 13F- NT filed with the Securities and Exchange Commission by Manulife Financial Corporation on January 29, 2018.

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.

NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss.240.13d-7 for other parties for whom copies are to be sent.

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)</signatureComments>
  </formData>

</edgarSubmission>