Cb Financl Srvcs Stock Price, News & Analysis

CB Financial Services, Inc. (NASDAQGM: CBFV) reported a strong performance for Q3 2022, achieving a net income of $3.9 million compared to $2.0 million in Q3 2021. This growth was driven by a notable expansion in net interest margin to 3.29% and a reduction in noninterest expenses. Adjusted earnings per share rose to $0.71 from $0.36 year-over-year. The total loans increased to $1.04 billion, with significant gains in consumer and commercial real estate loans. The company also repurchased shares and declared a quarterly dividend of $0.24, reflecting a commitment to shareholder value.

CB Financial Services, Inc. (CBFV) reported its second quarter 2022 results, revealing a net income of $118,000, a recovery from a net loss of $223,000 in Q2 2021. Adjusted net income fell to $275,000 from $3.2 million year-over-year. Significant challenges included a $3.8 million provision for loan losses largely due to a $2.7 million charge-off. The company completed its optimization program, reducing noninterest expenses by $1.9 million. Total loans rose to $1.03 billion. Book value per share decreased to $22.18, while a new $10 million share repurchase program was announced.

CB Financial Services, Inc. (NASDAQ: CBFV) announced a pre-tax charge-off of $2.7 million related to a $3.5 million revolving line of credit. The borrower, a general contractor, intends to cease business operations within the year. As of June 1, 2022, the outstanding loan balance was $2.66 million, with no loan loss reserve specific to this loan. Legal remedies are being pursued for potential recovery, although prospects remain limited.

CB Financial Services, Inc. (CBFV) reported its Q1 2022 financial results with net income of $3.0 million, up from $2.8 million YoY. Earnings per diluted share increased to $0.58 from $0.52. Adjusted net income also rose to $3.1 million compared to $2.5 million. Total loans held for investment grew 6.5% annualized, while total deposits reached $1.25 billion, marking a $23.7 million increase. However, noninterest income fell by 17.7% to $2.6 million. The company announced a $0.24 quarterly dividend and initiated a $10 million share repurchase program.

CB Financial Services, Inc. (NASDAQ: CBFV) has announced a share repurchase program to buy back up to $10 million of its outstanding common stock. This initiative could amount to approximately 433,643 shares, or 8.4% of the total shares currently outstanding, based on the closing price on April 19, 2022. The company plans to issue its earnings release for the quarter ending March 31, 2022 in the last week of April, after which repurchases may begin. The program will be executed under Rule 10b5-1, providing flexibility to adjust according to market conditions.

CB Financial Services, Inc. (NASDAQ: CBFV) is set to hold its annual stockholders' meeting on May 18, 2022, at 9:00 a.m. EDT in Waynesburg, Pennsylvania. The meeting will take place at the Ralph J. Sommers, Jr. Operations Center. Attendees may need to wear face coverings due to ongoing health concerns related to COVID-19. As a bank holding company for Community Bank, CBFV provides a wide range of lending and deposit services, as well as insurance brokerage through its subsidiary, Exchange Underwriters, Inc.

CB Financial Services, Inc. (NASDAQ: CBFV) has completed its $7.5 million stock repurchase program initiated on June 14, 2021. The company repurchased 308,993 shares at an average price of $24.27 each. This initiative reflects the company’s commitment to enhancing shareholder value and optimizing its capital structure.

CB Financial Services, Inc. (CBFV) reported significant fourth-quarter gains, with net income of $6.965 million compared to $3.079 million in Q4 2020, largely driven by a $5.2 million gain from branch sales. Earnings per diluted share rose to $1.31 from $0.57. Despite a 2.3% decline in total loans to $1.02 billion, loans held for investment increased by 11.3%. The company anticipates ongoing pre-tax cost savings of approximately $3 million from branch optimization. A quarterly dividend of $0.24 was declared, and a $7.5 million stock repurchase program is in effect.

CB Financial Services, Inc. (CBFV) announced the completion of a private placement offering totaling $15 million in 3.875% Fixed-to-Floating Rate Subordinated Notes due December 15, 2031. The proceeds will be utilized for general corporate purposes, including potential share repurchases. These Notes are designed to qualify as Tier 2 capital. The fixed interest rate applies until December 15, 2026, after which it will adjust quarterly based on SOFR plus 280 basis points. The offering is exempt from registration under the Securities Act.