Group 1 - CB Financial Services (CBFV) shares increased by 5.4% to close at $29.39, marking a 13% gain over the past four weeks, driven by notable trading volume [1][2] - The stock reached a new 52-week high of $29.39, influenced by a recent 50 basis points interest rate cut by the Federal Reserve, which has improved investor sentiment towards banks [2] - The expected quarterly earnings for CBFV are $0.52 per share, unchanged from the previous year, with revenues projected at $12.6 million, a 4% decline from the year-ago quarter [3] Group 2 - The consensus EPS estimate for CBFV has remained stable over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [4] - CBFV is part of the Zacks Banks - Northeast industry, where Merchants Bancorp (MBIN) has seen a 3.4% decline in its stock price, despite a 5.5% return over the past month [4] - Merchants Bancorp's EPS estimate has decreased by 4.8% over the past month to $1.42, reflecting a 15.5% decline compared to the previous year [5]

Financial Position - Total assets increased by $104.2 million, or 7.2%, to $1.6 billion at June 30, 2024, compared to $1.5 billion at December 31, 2023[112] - Total liabilities increased by $101.1 million, or 7.7%, to $1.42 billion at June 30, 2024[114] - Total deposits increased by $82.6 million to $1.35 billion as of June 30, 2024[114] - Stockholders' equity increased by $3.0 million, or 2.1%, to $142.9 million as of June 30, 2024, compared to $139.8 million at December 31, 2023, driven by $6.8 million of net income[116] - Total interest-earning assets increased to $1,419,054,000 with a net interest income of $23,140,000 for the six months ended June 30, 2024[130] - The company's Common Equity Tier 1 capital ratio was 14.62% as of June 30, 2024, compared to 13.64% on December 31, 2023[140] - Total capital to risk-weighted assets was 15.61% as of June 30, 2024, up from 14.61% at the end of 2023[140] - The company is categorized as "well capitalized" under regulatory frameworks as of June 30, 2024[139] Liquidity - Cash and due from banks increased by $74.4 million, or 109.0%, to $142.6 million at June 30, 2024[112] - As of June 30, 2024, the company's most liquid assets, including cash and due from banks, totaled $142.6 million[138] - The company had unpledged securities amounting to $97.6 million, providing an additional source of liquidity[138] - At June 30, 2024, the company had the ability to borrow up to $487.6 million from the FHLB of Pittsburgh, with $465.6 million currently available[138] - 91.5% of total time deposits, amounting to $316.5 million, are set to mature within one year, indicating potential liquidity challenges if not retained[138] - The company maintains a strong liquidity position and monitors it daily to ensure sufficient funds for current commitments[138] Loan and Interest Income - Total loans decreased by $31.7 million, or 2.9%, to $1.08 billion at June 30, 2024, driven by decreases in consumer, commercial real estate, and residential real estate loans[113] - Interest income on loans increased by $1.2 million, or 9.3%, to $14.7 million for the three months ended June 30, 2024, with an average yield on loans rising by 50 basis points to 5.50%[117] - The average yield on loans increased by 58 basis points to 5.50% for the six months ended June 30, 2024, compared to 4.92% for the same period in 2023[127] - The average balance of loans increased by $22.1 million to $1.08 billion for the six months ended June 30, 2024, compared to $1.06 billion for the same period in 2023[127] Interest Expense and Margin - Interest expense increased by $3.4 million, or 82.9%, to $7.5 million for the three months ended June 30, 2024, compared to $4.1 million for the same period in 2023[118] - The average cost of interest-bearing deposits increased by 109 basis points, or 65.8%, compared to the same period in 2023, leading to a $2.8 million increase in interest expense[117] - The net interest margin (GAAP) decreased to 3.18% for the three months ended June 30, 2024, compared to 3.29% for the same period in 2023[116] - The net interest margin (FTE) was 3.28% for the six months ended June 30, 2024, compared to 3.41% for the same period in 2023[130] Income and Expenses - Net income for the three months ended June 30, 2024, was $2.7 million, a decrease of $107,000 from $2.8 million for the same period in 2023[116] - Net income for the six months ended June 30, 2024, was $6.8 million, a decrease of $68,000 compared to $6.9 million for the same period in 2023[126] - Noninterest income decreased by $1.6 million, or 69.7%, to $688,000 for the three months ended June 30, 2024, compared to $2.3 million for the same period in 2023[123] - Noninterest income decreased by $2.5 million, or 48.7%, to $2.6 million for the six months ended June 30, 2024, primarily due to a 99.9% decrease in insurance commissions[133] - Noninterest expense decreased by $517,000, or 5.4%, to $9.0 million for the three months ended June 30, 2024, compared to $9.5 million for the same period in 2023[124] - Noninterest expense decreased by $1.1 million, or 6.0%, to $17.4 million for the six months ended June 30, 2024, mainly due to reduced salaries and benefits[135] - Income tax expense was $560,000 for the three months ended June 30, 2024, compared to $699,000 for the same period in 2023[125] - Income tax expense decreased by $347,000 to $1.5 million for the six months ended June 30, 2024, driven by an increase in non-taxable income[136] Credit Losses - The allowance for credit losses (ACL) was $9.5 million at June 30, 2024, with an ACL to total loans ratio of 0.88%[113] - Provision for credit losses recorded a net recovery of $36,000 for the three months ended June 30, 2024, compared to a provision of $432,000 for the same period in 2023[122] - Provision for credit losses was a recovery of $73,000 for the six months ended June 30, 2024, compared to a provision of $512,000 for the same period in 2023[132] Risk Management - Interest rate risk management is a key focus, with the company utilizing a simulation model to assess the impact of interest rate changes on net interest income and economic value of equity[141] - A hypothetical increase of 400 basis points in interest rates could lead to a decrease in economic value of equity by 16.1%[144] Other Information - The company is not currently involved in any legal proceedings that would materially affect its financial condition or operations[148]

Company Performance - CB Financial Services reported earnings of $0.62 per share, exceeding expectations of $0.53 by 16.98% [1] - The company posted revenues of $12.16 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.51% and down from $13.39 million year-over-year [6] - The current consensus EPS estimate for the upcoming quarter is $0.54 on revenues of $12.6 million, and for the current fiscal year, it is $2.22 on revenues of $51.3 million [8] Industry Outlook - The Zacks Industry Rank for Banks - Northeast is in the top 27% of over 250 Zacks industries, indicating a favorable outlook [4] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can significantly impact stock performance [3] Stock Performance - CB Financial Services shares have declined approximately 0.4% since the beginning of the year, while the S&P 500 has gained 16.5% [12] - The company has surpassed consensus EPS estimates two times over the last four quarters [11]

10 Explanation of Use of Non-GAAP Financial Measures In addition to financial measures presented in accordance with generally accepted accounting principles ("GAAP"), we use, and this Press Release contains or references, certain Non-GAAP financial measures. We believe these Non-GAAP financial measures provide useful information in understanding our underlying results of operations or financial position and our business and performance trends as they facilitate comparisons with the performance of other comp ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 001-36706 CB FINANCIAL SERVICES, INC. (Exact name of registrant as specified in its charter ...

CB Financial Services (CBFV) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.98%. A quarter ago, it was expected that this holding company for Pennsylvania-based Community Bank would post earnings of $0.57 per share when it actually produced earnings of $0.60, delivering a surprise ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------|-------|-------|-----------|------------|---------|-------|-----------|---------| | (Dollars in thousands, except per share data) (Unaudited) | | | 3/31/24 | 12/31/23 | 9/30/23 | | 6/30/23 | 3/31/23 | | Net Income (GAAP) | $ | | 4,196 $ | 12,966 $ | 2,672 | $ | 2,757 $ | 4,156 | | Net Income Adjustments | | | (1,000) | (9,905) | 29 | | 78 | (127) | | (1) Adjusted Net Income (N ...

FORM 10-K | --- | --- | |----------------------------------------------------------------|--------------------------------------| | Pennsylvania | 51-0534721 | | (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification Number) | | 100 North Market Street, Carmichaels, Pennsylvania | 15320 | | | | Page PART I ITEM 1. Business 3 ITEM 1A. Risk Factors 19 ITEM 1B. Unresolved Staff Comments 23 ITEM 1C. Cybersecurity 24 ITEM 2. Properties 25 ITEM 3. Legal Proceedings 25 ITEM 4 ...

WASHINGTON, Pa.--(BUSINESS WIRE)--CB Financial Services, Inc. (NASDAQGM: CBFV), the holding company of Community Bank, today announced that the annual meeting of stockholders will be held on Wednesday, May 15, 2024 at 9:00 a.m. EDT at the Ralph J. Sommers, Jr. Operations Center located at 600 EverGreene Dr. in Waynesburg, Pennsylvania. About CB Financial Services, Inc CB Financial Services, Inc. is the bank holding company for Community Bank, a Pennsylvania-chartered commercial bank. Community Bank operat ...

WASHINGTON, Pa.--(BUSINESS WIRE)--CB Financial Services, Inc. (“CB” or the “Company”) (NASDAQGM: CBFV), the holding company of Community Bank (the “Bank”), today announced its fourth quarter and 2023 financial results.   Three Months Ended   Year Ended   12/31/23 9/30/23 6/30/23 3/31/23 12/31/22   12/31/23 12/31/22 (Dollars in thousands, except per share data) (Unaudited)                           ...