The Q2 2024 Investor Presentation should be read in conjunction with the Earnings Release furnished in Exhibit 99.1 to Form 8K filed with the SEC on July 24, 2024. Forward-Looking Statements and Non-GAAP Financial Measures Statements contained in this investor presentation that are not historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and such forward-looking statements are subject to significant risks and uncertainties ...

Financial Performance - Net income for the three months ended March 31, 2025, was $1.9 million, a decrease of $2.3 million compared to $4.2 million for the same period in 2024[139]. - Net interest income decreased by $280,000, or 2.4%, to $11.3 million for the three months ended March 31, 2025, compared to $11.6 million for the same period in 2024[140]. - Noninterest income decreased by $1.1 million, or 58.9%, to $787,000 for the three months ended March 31, 2025, compared to $1.9 million for the same period in 2024[151]. - Noninterest expense increased by $1.4 million, or 16.3%, to $9.8 million for the three months ended March 31, 2025, primarily due to a $1.5 million increase in salaries and benefits[152]. - Income tax expense was $427,000 for the three months ended March 31, 2025, compared to $920,000 for the same period in 2024, driven by a decrease in pre-tax income[153]. Asset and Liability Management - Total assets increased by $1.9 million, or 0.1%, to $1.483 billion as of March 31, 2025, compared to $1.482 billion at December 31, 2024[131]. - Total deposits decreased by $2.4 million to $1.281 billion as of March 31, 2025, compared to $1.284 billion at December 31, 2024[134]. - The Company's total loans amounted to $1.088 billion, reflecting a decrease of $4.1 million, or 0.4%, from $1.093 billion at December 31, 2024[165]. - The Company's most liquid assets, cash and due from banks, totaled $61.3 million at March 31, 2025, while unpledged securities provided an additional liquidity source of $95.6 million[157]. - At March 31, 2025, 88.6% of total time deposits, amounting to $237.3 million, are set to mature within one year, indicating potential liquidity challenges if deposits are not retained[158]. Credit Quality - Nonperforming loans increased to $2.4 million at March 31, 2025, from $1.8 million at December 31, 2024, resulting in a nonperforming loans to total loans ratio of 0.22%[136]. - The allowance for credit losses (ACL) was $9.82 million at March 31, 2025, remaining stable compared to $9.81 million at December 31, 2024[136]. - Net charge-offs for the three months ended March 31, 2025, were $54,000, or 0.02% of average loans on an annualized basis[136]. - Provision for credit losses recorded a net recovery of $40,000 for the three months ended March 31, 2025, compared to a net recovery of $37,000 for the same period in 2024[150]. Capital Adequacy - Stockholders' equity increased by $911,000, or 0.6%, to $148.3 million at March 31, 2025, compared to $147.4 million at December 31, 2024[137]. - The Bank's Common Equity Tier 1 capital ratio was 14.94% as of March 31, 2025, exceeding the minimum requirement of 4.50% for capital adequacy purposes[164]. - The Bank's total capital ratio was 15.95% as of March 31, 2025, well above the 10.00% required to be considered well capitalized[164]. Interest Income and Expense - Interest income on a fully tax-equivalent (FTE) basis was $17.903 million for the three months ended March 31, 2025, compared to $18.025 million for the same period in 2024[129]. - Interest and dividend income decreased by $139,000, or 0.8%, to $17.8 million for the three months ended March 31, 2025, compared to $18.0 million for the same period in 2024[143]. - Interest income on loans decreased by $310,000, or 2.1%, to $14.5 million for the three months ended March 31, 2025, with the average balance of loans decreasing by $12.8 million to $1.08 billion[143]. - Interest income on taxable investment securities increased by $474,000, or 20.6%, to $2.8 million for the three months ended March 31, 2025, driven by a $42.6 million increase in average balances[143]. - Interest expense increased by $141,000, or 2.2%, to $6.5 million for the three months ended March 31, 2025, compared to $6.4 million for the same period in 2024[143]. Interest Rate Risk Management - The Company actively monitors interest rate risk, utilizing a simulation model to assess the impact of interest rate changes on net interest income and economic value of equity[169]. - EVE decreased by $28,500, resulting in a 13.5% change at an interest rate increase of 400 basis points[174]. - A decrease of 400 basis points led to a net interest income change of $7,355, reflecting a 3.5% increase[174]. - The earnings at risk increased by $3,481, representing a 6.8% change at an interest rate increase of 400 basis points[174]. - The EVE ratio at a flat interest rate is 14.83[174].

Financial Performance - Net income for Q1 2025 was $1.909 million, a decrease of 24.5% from $2.529 million in Q4 2024 and a decrease of 54.4% from $4.196 million in Q1 2024[3] - Basic Earnings Per Share (EPS) for the three months ended March 31, 2025, was $0.37, a decrease of 54.9% compared to $0.82 for the same period last year[32] - Diluted EPS for the same period was $0.35, down 57.3% from $0.82 year-over-year[32] - Adjusted Net Income (Non-GAAP) decreased to $1,909 thousand in Q1 2025 from $4,537 thousand in Q1 2024, a decline of 57.9%[40] - Net Income for Q1 2025 was $1,909 thousand, down 54.5% from $4,196 thousand in Q1 2024[40] Asset and Equity Management - Total assets increased by $1.9 million, or 0.1%, to $1.48 billion at March 31, 2025, compared to $1.48 billion at December 31, 2024[4] - Stockholders' equity increased by $911,000, or 0.6%, to $148.3 million as of March 31, 2025, compared to $147.4 million at December 31, 2024[22] - Book value per common share rose to $29.08 at March 31, 2025, an increase of $0.37 from $28.71 at December 31, 2024[23] - Total assets as of March 31, 2025, were $1,467,695, a decrease from $1,536,100 on December 31, 2024[36] Income and Expense Analysis - Total interest and dividend income decreased to $17.847 million for the three months ended March 31, 2025, compared to $19.431 million for the previous quarter[31] - Total noninterest expense increased to $9.802 million for the three months ended March 31, 2025, compared to $9.453 million for the previous quarter[31] - Noninterest income decreased by $1.1 million, or 58.9%, to $787,000 for Q1 2025, primarily due to a prior period gain on bank-owned life insurance[14] - Noninterest expenses increased by $1.4 million, or 16.3%, to $9.8 million for Q1 2025, largely due to $1.0 million in one-time expenses related to a reduction in force[15] Loan and Deposit Trends - Total loans decreased by $4.1 million, or 0.4%, to $1.088 billion as of March 31, 2025, with notable decreases in consumer, commercial, and industrial loans[25] - Total deposits decreased by $2.4 million to $1.281 billion as of March 31, 2025, with time deposits decreasing by $29.1 million[20] - The average yield on loans remained stable at 5.50% despite a 100 basis point reduction in the federal funds rate since September 2024[12] Efficiency and Profitability Ratios - Return on Average Assets decreased to 0.53% from 1.17% in the prior year, indicating a decline in asset efficiency[32] - Return on Average Equity fell to 5.24% from 12.03% year-over-year, showing a significant reduction in profitability[32] - The Efficiency Ratio increased to 81.02% from 62.40% a year ago, suggesting a decline in operational efficiency[32] - Common Equity Tier 1 Capital ratio remained strong at 14.94%, up from 14.50% year-over-year, indicating solid capital management[32] Interest Margin and Rate Analysis - Net interest margin improved to 3.27% for Q1 2025, up from 3.12% in Q4 2024, driven by a reduction in the cost of funds to 2.03% from 2.29%[4] - Net interest margin (FTE) for the quarter was 3.28%, up from 3.13% in the previous quarter[36] - Net interest rate spread (FTE) increased to 2.63% from 2.42% in the previous quarter[36] - Total interest-earning assets amounted to $1,404,371, with a yield of 5.17%[36] Credit Quality and Losses - Asset quality remained strong, with nonperforming loans to total loans at 0.22% at March 31, 2025[4] - The allowance for credit losses (ACL) was $9.82 million at March 31, 2025, maintaining a ratio of 0.90% to total loans[25] - Nonperforming loans increased to $2.4 million at March 31, 2025, resulting in a nonperforming loans to total loans ratio of 0.22%[25] - The company recorded a net recovery for credit losses of $40,000 during the current year[25] Future Initiatives - The company is implementing a Specialty Treasury Payments & Services program, with initial implementation expected near the end of 2025[8]

Financial Performance - Net income decreased to $12,594,000 in 2024, down from $22,550,000 in 2023, a decline of 44.4%[179] - Earnings per common share (basic) fell to $2.45 in 2024 from $4.41 in 2023, a decrease of 44.4%[180] - Noninterest income significantly decreased to $5,494,000 in 2024 from $24,012,000 in 2023, a decline of 77.1%[179] - Total noninterest expense decreased by $3.1 million, or 8.1%, to $35.6 million for the year ended December 31, 2024, compared to $38.8 million for the year ended December 31, 2023[241] - Income tax expense decreased by $5.0 million to $2.7 million for the year ended December 31, 2024, compared to $7.7 million for the year ended December 31, 2023[242] - Salaries and employee benefits decreased by $3.1 million to $18.8 million for the year ended December 31, 2024, primarily due to no expense related to EU for the year[242] Asset and Liability Management - Total assets increased to $1,481,564,000 in 2024 from $1,456,091,000 in 2023, representing a growth of 1.8%[179] - Total liabilities increased by $17.9 million, or 1.4%, to $1.33 billion at December 31, 2024, compared to $1.32 billion at December 31, 2023[222] - Total deposits increased by $16.4 million, or 1.3%, to $1.28 billion as of December 31, 2024, compared to $1.27 billion at December 31, 2023[223] - The Bank's most liquid assets, cash and due from banks, totaled $49.6 million at December 31, 2024[276] - The Bank had funding commitments totaling $167.6 million at December 31, 2024, primarily for loan origination[278] Loan Portfolio - Total loans decreased by $17.8 million, or 1.6%, to $1.09 billion at December 31, 2024, compared to $1.11 billion at December 31, 2023[214] - Consumer loans decreased by $41.1 million, while commercial real estate loans increased by $18.4 million, contributing to the overall loan portfolio change[214] - The company's loan portfolio composition includes residential loans at $337.99 million (30.9%), commercial loans at $485.51 million (44.4%), and consumer loans at $70.51 million (6.5%) as of December 31, 2024[216] - The commercial real estate (CRE) portfolio totaled $485.5 million, an increase of $18.4 million, or 3.9%, compared to December 31, 2023[217] - The total amount of special mention and classified loans decreased by $29.0 million, or 41.8%, to $40.4 million at December 31, 2024, compared to $69.4 million at December 31, 2023[260] Credit Losses and Nonperforming Assets - The provision for credit losses on loans was $379,000 in 2024, compared to a recovery of $(284,000) in 2023[179] - The allowance for credit losses was $9.805 million as of December 31, 2024, compared to $9.707 million in the previous year[216] - Nonperforming assets decreased by $613,000 to $1.8 million at December 31, 2024, compared to $2.4 million at December 31, 2023[255] - Nonperforming loans decreased by $451,000 to $1.8 million at December 31, 2024, compared to $2.2 million at December 31, 2023[255] - The ratio of nonaccrual loans to total loans decreased from 0.20% at December 31, 2023, to 0.16% at December 31, 2024[257] Capital Adequacy - The company maintained a common equity tier 1 capital ratio of 14.78% in 2024, up from 13.64% in 2023, indicating improved capital strength[180] - Stockholders' equity increased by $7.5 million, or 5.4%, to $147.4 million at December 31, 2024, compared to $139.8 million at December 31, 2023[232] - Common Equity Tier 1 Capital increased to $152,238 thousand with a ratio of 14.78% as of December 31, 2024, compared to $143,654 thousand and 13.64% in 2023[287] - Total Capital reached $162,733 thousand with a ratio of 15.79% in 2024, up from $153,861 thousand and 14.61% in 2023[287] - The Company’s actual Tier I Leverage Capital was $152,238 thousand, representing 9.98% of adjusted total assets, down from 10.19% in 2023[287] Interest Income and Expense - Net interest and dividend income rose to $46,068,000 in 2024, up from $44,553,000 in 2023, an increase of 3.4%[179] - Interest income on loans increased by $4.7 million, or 8.7%, to $59.4 million for the year ended December 31, 2024, compared to $54.7 million for the year ended December 31, 2023[238] - Interest expense increased by $12.4 million, or 70.1%, to $30.1 million for the year ended December 31, 2024, compared to $17.7 million for the year ended December 31, 2023[236] - Total interest income from loans decreased by $158,000 to $4.781 million for the year ended December 31, 2024, compared to $4.939 million for the year ended December 31, 2023[248] - Total interest expense on deposits increased by $2.127 million to $12.008 million for the year ended December 31, 2024[248] Interest Rate Risk - The Company’s interest rate risk analysis indicates that a 400 basis point increase in interest rates would decrease the Economic Value of Equity (EVE) by $32,439 thousand, a 15.4% change[295] - A flat interest rate scenario shows an EVE of $210,357 thousand, with a net interest income at risk of $49,673 thousand[295] - The Company’s Asset/Liability Management Committee meets quarterly to evaluate and manage interest rate risk, ensuring compliance with established guidelines[289] - The Company utilizes a simulation model to monitor interest rate risk, measuring impacts on both capital and earnings perspectives[290] - The EVE ratio reflects the sensitivity of the Company to interest rate changes, with a base case scenario assuming no change in interest rates[292]

Core Viewpoint - CB Financial Services reported quarterly earnings of $0.35 per share, missing the Zacks Consensus Estimate of $0.46 per share, and down from $0.60 per share a year ago [1][2] Financial Performance - The company experienced an earnings surprise of -23.91% for the quarter, while a quarter ago it had a positive surprise of 7.84% [2] - Revenues for the quarter ended December 2024 were $13.19 million, exceeding the Zacks Consensus Estimate by 7.21%, but down from $27.65 million year-over-year [3] Market Performance - CB Financial Services shares have increased by approximately 2% since the beginning of the year, compared to a 3.2% gain in the S&P 500 [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [7] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.44 on revenues of $12.1 million, and for the current fiscal year, it is $1.89 on revenues of $49.7 million [8] - The trend for estimate revisions prior to the earnings release was unfavorable, which may impact future stock performance [7] Industry Context - The Banks - Northeast industry, to which CB Financial Services belongs, is currently ranked in the top 9% of over 250 Zacks industries, suggesting a favorable industry outlook [9]

Financial Performance - Net income for Q4 2024 was $2.5 million, a decrease from $13.0 million in Q4 2023, primarily due to a prior period gain of $24.6 million from the sale of a subsidiary[5]. - Net income for the three months ended December 31, 2024, was $2,529,000, a decrease of 21.5% from $3,219,000 in the previous quarter[30]. - The company reported a net income of $12,966,000 for the year ended December 31, 2024, compared to $12,594,000 in 2023, which is an increase of approximately 2.95%[44]. - Adjusted net income (Non-GAAP) for the year ended December 31, 2024, was $24,316,000, compared to $22,550,000 in 2023, representing an increase of approximately 7.83%[44]. - Adjusted net income (Non-GAAP) for the year ended December 31, 2024, was $12,624,000, an increase of 18.4% from $10,764,000 in the previous year[46]. Income and Revenue - Net interest and dividend income increased by $396,000, or 3.6%, to $11.5 million compared to Q4 2023[11]. - Total Interest and Dividend Income for the year ended December 31, 2024, was $76,131,000, an increase of 22.4% compared to $62,225,000 for the year ended December 31, 2023[30]. - Total Noninterest Income for the year ended December 31, 2024, was $5,494,000, significantly down from $24,012,000 for the year ended December 31, 2023[30]. - Interest Income (GAAP) for the three months ended December 31, 2024, was $19,431,000, compared to $16,905,000 for the same period last year, representing a year-over-year increase of 15%[45]. - Net Interest Income (FTE) (Non-GAAP) for the year ended December 31, 2024, was $76,292,000, up from $62,380,000 in the previous year, reflecting a growth of 22%[45]. Assets and Liabilities - Total assets increased by $25.5 million, or 1.8%, to $1.48 billion from $1.46 billion[5]. - Total assets increased to $1,502,500,000 as of December 31, 2024, compared to $1,407,027,000 in 2023, reflecting a growth of approximately 6.76%[39]. - The company reported a total of $1,388,227,000 in liabilities, a slight increase from $1,381,095,000 in the previous quarter[35]. - Stockholders' equity increased by $7.5 million, or 5.4%, to $147.4 million at December 31, 2024, compared to $139.8 million at December 31, 2023[22]. - Cash and due from banks decreased by $18.7 million, or 27.3%, to $49.6 million at December 31, 2024, compared to $68.2 million at December 31, 2023[20]. Loans and Credit Quality - Total loans decreased by $17.8 million, or 1.6%, to $1.09 billion, with significant declines in consumer and residential real estate loans[5]. - Nonperforming loans to total loans improved to 0.16% at December 31, 2024, compared to 0.20% a year earlier[7]. - The allowance for credit losses (ACL) was $9.8 million at December 31, 2024, resulting in an ACL to total loans ratio of 0.90%[20]. - Nonperforming loans decreased to $1.8 million at December 31, 2024, with a nonperforming loans to total loans ratio of 0.16%[20]. - The provision for credit losses was $683,000, compared to a recovery of $1.4 million in Q4 2023, reflecting changes in loan growth and loss rates[13]. Efficiency and Ratios - The Efficiency Ratio for the three months ended December 31, 2024, was 71.68%, compared to 69.11% in the previous quarter, indicating a decline in operational efficiency[31]. - The Return on Average Assets for the three months ended December 31, 2024, was 0.65%, down from 0.84% in the previous quarter[31]. - The Allowance for Credit Losses to Total Loans ratio was 0.90% as of December 31, 2024, compared to 0.87% as of December 31, 2023, indicating a slight increase in credit risk[31]. - The Common Equity Tier 1 Capital ratio was 14.78% as of December 31, 2024, stable compared to 14.79% in the previous quarter[31]. - The annualized Return on Average Equity (GAAP) for the year ended December 31, 2024, was 19.42%, a decrease from 44.99% in the previous year[46]. Dividends and Shareholder Returns - The company declared a quarterly cash dividend of $0.25 per share, payable on February 28, 2025[10]. - Earnings Per Common Share - Basic for the year ended December 31, 2024, was $2.53, compared to $2.45 for the year ended December 31, 2023, reflecting a 3.3% increase[31]. - Earnings per Common Share - Diluted (GAAP) for the three months ended December 31, 2024, was $0.46, down from $0.60 in the previous quarter, a decline of 23.3%[46]. - Book value per common share increased by $1.39 to $28.71 at December 31, 2024, compared to $27.32 at December 31, 2023[23]. - The Book Value Per Common Share increased to $28.71 as of December 31, 2024, from $27.53 as of December 31, 2023[31]. Future Outlook - The implementation of the Specialty Treasury Payments & Services program is expected to enhance revenue growth and core deposit base, with full utilization anticipated by Q3 2025[9].

Financial Performance - Net income for the three months ended September 30, 2024, was $3.2 million, an increase of $547,000 or 20.3% compared to $2.7 million for the same period in 2023[118]. - Net income for the nine months ended September 30, 2024, was $10.1 million, an increase of $479,000 compared to $9.6 million for the same period in 2023[126]. - Noninterest income decreased by $1.2 million, or 48.9%, to $1,233,000, primarily due to a decrease in insurance commissions following the sale of Exchange Underwriters[123]. - Noninterest income decreased by $3.7 million, or 48.8%, to $3.8 million, primarily due to a 99.9% decrease in insurance commissions[133]. Asset and Liability Management - Total assets increased by $105.7 million, or 7.3%, to $1.6 billion at September 30, 2024, compared to $1.5 billion at December 31, 2023[113]. - Total deposits increased by $86.7 million to $1.4 billion as of September 30, 2024, with significant increases in time deposits and brokered certificates of deposit[116]. - Cash and due from banks increased by $79.1 million, or 115.9%, to $147.3 million at September 30, 2024[113]. - Total interest-bearing liabilities rose to $1.102 billion, with total interest-bearing deposits increasing by $130 million, or 13.9%, to $1.1 billion[119]. - The company's liquidity position included $147.3 million in cash and due from banks, with unpledged securities totaling $95.8 million[139]. Loan Portfolio - Total loans decreased by $44.6 million, or 4.0%, to $1.07 billion at September 30, 2024, driven by declines in various loan categories[114]. - As of September 30, 2024, the company's total loans amounted to $1.07 billion, reflecting a decrease of $44.6 million, or 4.0%, from $1.11 billion at December 31, 2023[143]. - The company's Commercial Real Estate (CRE) portfolio totaled $464.4 million, a decrease of $2.8 million, or 0.6%, compared to December 31, 2023[144]. - The composition of the CRE portfolio includes Multifamily loans at $87.9 million (25.89%), Retail Space at $87.6 million (25.81%), and Warehouse Space at $45.2 million (13.31%) as of September 30, 2024[144]. - The company's total loans composition includes Residential loans at $338.9 million (31.8%) and Commercial loans at $464.4 million (43.6%) as of September 30, 2024[143]. Interest Income and Expense - Net interest income (FTE) for the three months ended September 30, 2024, was $11.516 million, compared to $10.760 million for the same period in 2023[110]. - Interest income on loans increased by $896,000, or 6.4%, to $14.9 million, with an average yield on loans rising by 47 basis points to 5.60%[118]. - Interest income on taxable investment securities surged by $2.3 million, or 249.9%, to $3.3 million, driven by a 272 basis point increase in average yield[118]. - Interest expense increased by $3.1 million, or 60.9%, to $8.3 million, primarily due to rising market interest rates[118]. - The average cost of interest-bearing deposits increased by 93 basis points, or 46.3%, compared to the same period in 2023[118]. Credit Losses and Provisions - The allowance for credit losses (ACL) was $9.5 million at September 30, 2024, resulting in an ACL to total loans ratio of 0.89%[114]. - The provision for credit losses recorded a net recovery of $41,000 for the three months ended September 30, 2024, compared to a provision of $406,000 in the same period in 2023[122]. - The provision for credit losses was a recovery of $114,000 for the nine months ended September 30, 2024, compared to a provision of $917,000 for the same period in 2023[132]. - Nonperforming loans decreased to $2.0 million at September 30, 2024, with a nonperforming loans to total loans ratio of 0.19%[114]. Capital Ratios - Stockholders' equity increased by $9.3 million, or 6.7%, to $149.1 million at September 30, 2024, driven by net income of $10.1 million[117]. - The Bank's Common Equity Tier 1 capital ratio was 14.79% as of September 30, 2024, compared to 13.64% at December 31, 2023[141]. - The actual total capital ratio was 15.76% as of September 30, 2024, exceeding the minimum required to be well capitalized[141]. Interest Rate Risk Management - The company's interest rate risk management strategy includes monitoring through a simulation model, with quarterly reports to identify and control interest rate risk[146]. - Estimated changes in Economic Value of Equity (EVE) indicate a potential decrease of $27.1 million (14.5%) with a +400 basis points change in interest rates[147]. - The company’s asset/liability management committee meets quarterly to review interest rate risk strategies and ensure compliance with board-approved guidelines[146].

Group 1: Earnings Performance - CB Financial Services reported quarterly earnings of $0.55 per share, exceeding the Zacks Consensus Estimate of $0.51 per share, and compared to earnings of $0.52 per share a year ago, representing an earnings surprise of 7.84% [1] - The company posted revenues of $12.71 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.85%, although this is a decrease from year-ago revenues of $13.13 million [1] Group 2: Stock Performance and Outlook - CB Financial Services shares have increased by approximately 21.3% since the beginning of the year, slightly underperforming compared to the S&P 500's gain of 21.8% [2] - The current consensus EPS estimate for the upcoming quarter is $0.52 on revenues of $12.7 million, and for the current fiscal year, it is $2.19 on revenues of $49.9 million [4] Group 3: Industry Context - The Zacks Industry Rank for Banks - Northeast is currently in the top 13% of over 250 Zacks industries, indicating a favorable outlook for the industry [5] - MainStreet Bank, another company in the same industry, is expected to report a quarterly loss of $0.04 per share, reflecting a year-over-year change of -105.2%, with revenues anticipated to be $16.03 million, down 18% from the previous year [5]

Financial Performance - Net income for Q3 2024 was $3.2 million, an increase of 19.8% from $2.7 million in Q3 2023[3] - Earnings per diluted common share rose to $0.60, up from $0.52 in the same period last year[3] - Net Income for Q3 2024 was $3,219,000, compared to $2,672,000 in Q3 2023, reflecting a 20.5% increase[27] - Adjusted Net Income (Non-GAAP) for Q3 2024 was $3,483,000, compared to $3,117,000 in Q3 2023, reflecting a year-over-year increase of 11.7%[39] - Earnings Per Common Share - Basic rose to $0.63 in Q3 2024, up from $0.52 in Q3 2023, marking a 21.2% increase[29] - Net Income (GAAP) for Q3 2024 was $3,219,000, an increase from $2,650,000 in Q2 2024, and $4,196,000 in Q1 2024[46] Asset and Liability Management - Total assets increased by $105.7 million, or 7.3%, to $1.6 billion compared to $1.5 billion at the end of 2023[4] - Total liabilities increased by $96.3 million, or 7.3%, to $1.4 billion at September 30, 2024[16] - Total deposits increased by $86.7 million to $1.35 billion as of September 30, 2024, with time deposits rising by $136.5 million[17] - Total loans decreased by $44.6 million, or 4.0%, to $1.07 billion, with significant declines in consumer and residential real estate loans[4] - Total Interest-Bearing Liabilities were $1,061,400 thousand with a cost of 2.79% for the current period, compared to $944,309 thousand and 1.69% previously[35] Income and Expense Analysis - Net interest and dividend income increased by $757,000, or 7.1%, to $11.5 million compared to Q3 2023[8] - Total Noninterest Expense decreased to $8,782,000 in Q3 2024 from $9,487,000 in Q3 2023, a reduction of 7.4%[27] - Interest expense on deposits surged by $3.1 million, or 66.1%, to $7.9 million due to rising market interest rates[9] - Interest Expense increased to $8,299,000 in Q3 2024, up from $5,157,000 in Q3 2023, a rise of 60.5%[27] Credit Quality and Losses - The provision for credit losses was a net recovery of $41,000, contrasting with a $406,000 provision in Q3 2023[10] - Nonperforming loans decreased to $2.0 million at September 30, 2024, resulting in a nonperforming loans to total loans ratio of 0.19%[15] - Net charge-offs for the three months ended September 30, 2024, were $73,000, or 0.03% of average loans on an annualized basis[15] - Provision for Credit Losses - Loans was $25,000 in Q3 2024, compared to a recovery of $291,000 in Q3 2023[27] Capital and Equity - Stockholders' equity increased by $9.3 million, or 6.7%, to $149.1 million at September 30, 2024, driven by $10.1 million of net income[20] - Common Equity Tier 1 Capital ratio increased to 14.79% from 14.62%, reflecting a stronger capital position[30] - Book value per common share increased by $1.75 to $29.07 at September 30, 2024[20] - Book Value per Common Share (GAAP) increased to $29.07 from $22.43 year-over-year[38] Operational Efficiency - Efficiency ratio improved to 69.11% from 73.89% in the previous quarter, indicating better cost management[30] - Return on average assets improved to 0.84% from 0.71% in the prior quarter, indicating enhanced asset efficiency[30] - Return on average equity rose to 8.80% from 7.58% in the previous quarter, demonstrating better profitability for shareholders[30] Market Expansion - The company opened a new state-of-the-art branch office in Uniontown, PA, as part of its market expansion strategy[6]

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for CB Financial Services due to lower revenues, with the actual results being crucial for stock price movement [1] Earnings Expectations - CB Financial Services is expected to report quarterly earnings of $0.51 per share, reflecting a year-over-year decrease of 1.9% [2] - Revenues are projected to be $12.6 million, down 4% from the same quarter last year [2] Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a stable outlook from covering analysts [3] - The Most Accurate Estimate for CB Financial Services is lower than the Zacks Consensus Estimate, leading to an Earnings ESP of -1.96%, suggesting a bearish sentiment among analysts [6] Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a favorable Zacks Rank [5] - CB Financial Services currently holds a Zacks Rank of 4, making it challenging to predict an earnings beat [7] Historical Performance - In the last reported quarter, CB Financial Services met the expected earnings of $0.52 per share, resulting in no surprise [8] - Over the past four quarters, the company has beaten consensus EPS estimates twice [8] Conclusion - Despite the potential for an earnings beat, CB Financial Services does not appear to be a compelling candidate for such an outcome, and investors should consider other factors before making decisions [9]