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)                           ...

Table of Contents (Mark One) OR CB FINANCIAL SERVICES, INC. (Exact name of registrant as specified in its charter) FORM 10-Q For the quarterly period ended September 30, 2023 For the transition period from __________ to __________ Pennsylvania 51-0534721 (Title of each class) (Trading symbol) (Name of each exchange on which registered) Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.4 ...

Financial Performance - Net income for the six months ended June 30, 2023, was $6.9 million, an increase of $3.8 million compared to $3.2 million for the same period in 2022[59]. - Net income for the second quarter of 2023 was $2,757 thousand, a significant increase from $118 thousand in the same period of 2022, marking a growth of over 2200%[72]. - Net income for the three months ended June 30, 2023, was $2,757,000, compared to $3,165,000 for the same period in the previous year[92]. - For the six months ended June 30, 2023, net income was $6,915 thousand, a decrease of 6.5% compared to $7,395 thousand for the same period in 2022[211]. Assets and Liabilities - As of June 30, 2023, total assets amounted to $1,406,741,000, an increase from $1,391,928,000 as of December 31, 2022[40]. - Total liabilities as of June 30, 2023, were $1,316,144,000, compared to $1,298,783,000 at December 31, 2022, an increase of approximately 1.3%[87]. - Total stockholders' equity increased by $6.4 million, or 5.8%, to $116.6 million at June 30, 2023, compared to $110.2 million at December 31, 2022[46]. - The company reported a total interest and dividend income of $15,203 thousand in June 2023, up from $10,958 thousand in June 2022, an increase of approximately 38.5%[71]. Loans and Credit Quality - Total loans increased by $51.3 million, or 4.9%, to $1.10 billion at June 30, 2023, compared to $1.05 billion at December 31, 2022, driven by growth in commercial and industrial loans, commercial real estate, and residential mortgages[44]. - The allowance for credit losses decreased from $12.819 million at December 31, 2022, to $10.666 million as of June 30, 2023[150]. - Nonperforming loans decreased to $4.1 million at June 30, 2023, from $5.8 million at December 31, 2022, resulting in a nonperforming loans to total loans ratio of 0.37%[44]. - The provision for credit losses recorded for the three months ended June 30, 2023, was $432,000, compared to $3.8 million for the same period in 2022[54]. Interest Income and Expenses - Net interest income for the three months ended June 30, 2023, was $11,155,000, compared to $10,197,000 for the same period in 2022[40]. - Interest expense increased by $3.3 million, or 413.6%, to $4.1 million for the three months ended June 30, 2023, compared to $795,000 for the same period in 2022[50]. - Net interest and dividend income increased by $1.0 million, or 9.4%, to $11.1 million for the three months ended June 30, 2023, compared to $10.2 million for the same period in 2022[49]. Equity and Shareholder Information - Book value per share increased by $1.21 to $22.81 at June 30, 2023, compared to $21.60 at December 31, 2022[46]. - The number of shares issued increased to 5,733,408 as of June 30, 2023, from 5,708,433 at December 31, 2022, a slight increase of 0.4%[87]. - Dividends paid for the quarter were $1,277,000, with a dividend per share of $0.25[92]. Noninterest Income and Expenses - Noninterest income increased by $164,000, or 7.8%, to $2.3 million for the three months ended June 30, 2023, compared to $2.1 million for the same period in 2022[55]. - Total noninterest expense increased to $9,501 thousand in June 2023 from $8,410 thousand in June 2022, reflecting an increase of approximately 12.9%[71]. Market and Economic Conditions - The company anticipates potential risks including changes in market interest rates and economic conditions that could affect future performance[35]. - The company has identified approximately $16.2 million in outstanding loan balances tied to the LIBOR reference rate as of June 30, 2023[112]. Branch and Market Presence - The company operates 10 branches in Pennsylvania and three offices in West Virginia, focusing on community-oriented banking services[33]. - The bank's loan production office is located in Allegheny County, enhancing its market presence in southwestern Pennsylvania[33].

Financial Performance - Net interest income increased by $1.7 million, or 17.1%, to $11.6 million for the three months ended March 31, 2023, compared to $9.9 million for the same period in 2022[214] - Interest and dividend income rose by $3.6 million, or 34.2%, to $14.2 million for the three months ended March 31, 2023, compared to $10.6 million for the same period in 2022[214] - Net income for the three months ended March 31, 2023, was $4.2 million, an increase of $1.1 million compared to $3.0 million for the same period in 2022[241] - Noninterest income rose by $197,000, or 7.5%, to $2.8 million for the three months ended March 31, 2023, compared to $2.6 million for the same period in 2022[248] Asset and Liability Management - Total assets increased by $21.8 million, or 1.5%, to $1.43 billion as of March 31, 2023, compared to $1.41 billion at December 31, 2022[237] - Total liabilities increased by $14.7 million, or 1.1%, to $1.31 billion at March 31, 2023, compared to $1.30 billion at December 31, 2022[211] - Total deposits rose by $13.0 million to $1.28 billion as of March 31, 2023, reflecting an annualized increase of 4.1%[238] Equity and Capital Ratios - Tangible common equity increased to $104.4 million at March 31, 2023, compared to $96.9 million at March 31, 2022[208] - Stockholders' equity increased by $7.0 million, or 6.4%, to $117.2 million at March 31, 2023, compared to $110.2 million at December 31, 2022[240] - Common Equity Tier 1 ratio improved to 12.60% at March 31, 2023, compared to 12.33% at December 31, 2022[227] Interest and Yield Metrics - The average yield on loans increased by 98 basis points to 4.83% for the three months ended March 31, 2023, compared to 3.85% for the same period in 2022[214] - The net interest margin increased to 3.51% for the three months ended March 31, 2023, compared to 3.08% for the same period in 2022[214] - Interest expense increased by $1.9 million, or 268.0%, to $2.7 million for the three months ended March 31, 2023, compared to $723,000 for the same period in 2022[244] Regulatory Compliance and Governance - The certification of the Chief Executive Officer and Chief Financial Officer was completed in accordance with the Sarbanes-Oxley Act of 2002, ensuring compliance and accountability[278] - The company is committed to transparency and regulatory compliance as evidenced by the incorporation of amended articles and bylaws[278] - The company has implemented new controls and modified existing controls as part of adopting the CECL accounting standard effective January 1, 2023[273] Strategic Insights and Future Outlook - The financial results are expected to provide insights into future performance and strategic direction[278] - The company emphasizes the significance of its financial condition in guiding investment and operational decisions moving forward[281] - The financial services sector continues to evolve, with the company adapting to market changes and regulatory requirements[281] Liquidity and Funding - Cash and due from banks totaled $103.5 million at March 31, 2023, with unpledged securities providing an additional liquidity source of $16.1 million[250] - The company had the ability to borrow up to $449.7 million from the FHLB of Pittsburgh, with $447.8 million available as of March 31, 2023[250] - 54.2% of total time deposits, amounting to $70.7 million, are set to mature within one year[250] Shareholder Returns - The company declared and paid $1.3 million in dividends to common stockholders in the current period[240] - The company repurchased a total of 74,656 shares at an average price of $22.38 per share as part of a $10.0 million stock repurchase program[276]