Exhibit 21
List of Subsidiaries
| Name | State of Incorporation |
| The State Bank and Trust Company | Ohio |
| SBFG Title, LLC | Ohio |
| SB Captive, Inc. | Nevada |
| SBT Insurance, LLC | Ohio |
| Rurban Statutory Trust II | Declaration of Trust – State of Delaware |
| NC Merger Corp.* | Ohio |
| *NC | Merger Corp. has no assets or liabilities and is inactive. |