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CB Financial Services, Inc. reports developments tied to its role as the Pennsylvania bank holding company for Community Bank, a community-oriented institution offering deposit products and residential, commercial real estate, commercial and industrial, and consumer loans. Recurring updates cover quarterly earnings, cash dividends, net interest income, credit quality, loan portfolio mix, and capital levels.
Company news also includes balance sheet and securities portfolio actions, common stock repurchase authorization, annual meeting matters, and board or executive leadership changes. Recent operating commentary has emphasized redeploying indirect automobile and residential mortgage repayments into commercial loan products.
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CB Financial Services, Inc. (NASDAQ: CBFV) announced that its annual stockholders' meeting will be held on May 17, 2023, at 9:00 a.m. EDT in Waynesburg, Pennsylvania. The meeting will follow health precautions related to COVID-19, requiring attendees to wear face coverings. CB Financial Services operates Community Bank, offering commercial and retail banking services across southwestern Pennsylvania and West Virginia. The bank also provides insurance brokerage services through its subsidiary, Exchange Underwriters, Inc..
CB Financial Services, Inc. (NASDAQGM: CBFV) reported its fourth quarter 2022 financial results, with net income of $4.2 million, down from $7.0 million a year prior. The Company achieved adjusted net income of $4.1 million, a rise from $2.8 million in Q4 2021. Earnings per share (EPS) decreased to $0.81 from $1.31. Total loans increased to $1.05 billion, with notable growth in consumer and commercial real estate loans. Notably, noninterest income fell to $2.4 million due to a significant prior year gain on the sale of branches. The Company declared a quarterly dividend of $0.25 per share, reflecting a 4.2% increase. Total deposits rose by 3.4% to $1.27 billion.