CB Financial Services(US:CBFV)2025-10-23 20:10Financial Performance - For the three months ended September 30, 2025, net (loss) income was $(5.696) million, compared to net income of $3.949 million for the previous quarter[3]. - Adjusted net income (Non-GAAP) for the same period was $3.927 million, maintaining the same level as the previous quarter[3]. - The company reported a Net (Loss) Income of $(5,696,000) for Q3 2025, compared to a profit of $3,949,000 in Q2 2025[34]. - Basic Loss per Common Share for Q3 2025 was $(1.14), a decline from earnings of $0.79 in Q2 2025[34]. - The Return on Average Assets for Q3 2025 was (1.50)%, down from 1.06% in Q2 2025[34]. - The company reported a net loss of $5,696,000 for the three months ended September 30, 2025, compared to a net income of $3,949,000 for the previous quarter[48]. - The efficiency ratio (GAAP) was reported at 379.15% for the three months ended September 30, 2025, compared to 64.94% in the previous quarter[49]. Asset and Liability Management - Total assets increased by $27.5 million to $1.55 billion, driven by strong commercial real estate and industrial loan production[4]. - Total assets increased by $64.0 million, or 4.3%, to $1.55 billion as of September 30, 2025, compared to $1.48 billion at December 31, 2024[18]. - Total liabilities rose by $58.9 million, or 4.4%, to $1.39 billion at September 30, 2025, compared to $1.33 billion at December 31, 2024[20]. - Total deposits increased by $50.9 million, or 4.0%, to $1.33 billion as of September 30, 2025, compared to $1.28 billion at December 31, 2024[21]. - Cash and due from banks increased by $6.3 million, or 12.7%, to $55.9 million at September 30, 2025, compared to $49.6 million at December 31, 2024[22]. Loan and Credit Quality - Total loans increased by $50.8 million, or 4.6%, with commercial loans comprising 59.8% of the loan portfolio as of September 30, 2025[8]. - The provision for credit losses was $259,000, reflecting additional reserves for loan growth and changes in qualitative factors[13]. - The allowance for credit losses (ACL) was $10.1 million at September 30, 2025, with an ACL to total loans ratio of 0.89%[22]. - The bank's nonperforming loans represented just 0.19% of total loans, indicating strong asset quality[11]. - Nonperforming loans increased to $2.2 million at September 30, 2025, with a nonperforming loans to total loans ratio of 0.19%[22]. Income and Expense Analysis - Total Interest and Dividend Income for Q3 2025 was $19,341,000, an increase of 3.09% from $18,760,000 in Q2 2025[33]. - Net Interest and Dividend Income after provisions for credit losses was $12,840,000 for Q3 2025, compared to $12,532,000 in Q2 2025, reflecting a growth of 2.46%[33]. - Noninterest (Loss) Income for Q3 2025 was $(10,677,000), a significant decrease from $931,000 in Q2 2025, primarily due to a net loss on securities of $(11,752,000)[33]. - Total Noninterest Expense for Q3 2025 was $9,183,000, an increase of 4.95% from $8,748,000 in Q2 2025[33]. - Net Gain on Securities was $11,752,000 in Q3 2025, with no gains reported in Q2 2025[47]. Capital and Book Value - Stockholders' equity increased by $5.1 million, or 3.5%, to $152.5 million at September 30, 2025, compared to $147.4 million at December 31, 2024[25]. - Book value per share was $30.50, with tangible book value per share at $28.56 as of September 30, 2025[11]. - Book value per common share rose to $30.50 at September 30, 2025, an increase of $1.79 from $28.71 at December 31, 2024[26]. - The tangible common equity to tangible assets ratio was 9.3% as of September 30, 2025, compared to 9.0% a year earlier[46].