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CB Financial Services, Inc. renewed and enhanced executive arrangements at its subsidiary Community Bank for President and CEO John H. Montgomery and Senior EVP/Chief Banking Officer Bruce Sharp. New employment agreements run initially through April 30, 2029, with automatic one-year extensions to maintain a 36‑month term, and an automatic 36‑month extension following any qualifying Change in Control.
Montgomery’s annual base salary is $495,000 and Sharp’s is $294,500. Montgomery has an annual cash bonus opportunity initially equal to 20% of base salary and a long‑term equity incentive opportunity also at 20% of base salary, plus use of a Bank‑owned or leased automobile. For a qualifying termination without cause or for good reason, each executive receives a lump sum equal to the remaining contract‑term base salary or 12 months, whichever is greater, plus up to 12 months of COBRA reimbursement; if the termination follows a Change in Control, severance increases to a lump sum of 3× base salary plus average bonus as defined in the agreement and up to 24 months of COBRA or Medicare reimbursement. Both executives are subject to one‑year post‑employment non‑competition and non‑solicitation covenants, which fall away after a Change in Control. A new Split Dollar Life Insurance Agreement for Montgomery provides a death benefit formula based on a $500,000 reference amount reduced by the value of specified equity awards, and runs through October 1, 2030.
CB Financial Services, Inc. director John Swiatek reported an option exercise and related share sale involving the company’s common stock. On August 14, 2026, he exercised 1,400 stock options for common shares at an exercise price of $26.45 per share. The exercise generated an acquisition of 1,400 shares of common stock. On the same date, he sold 1,000 shares of common stock at a price of $37.06 per share in a disposition transaction. Following these transactions, he continues to hold common stock indirectly through an IRA, reported at 7,534 shares, and also holds remaining stock options on common stock with an exercise price of $30.75 per share, covering 1,115 underlying shares and expiring on December 15, 2027. Some of the reported common stock holdings include restricted stock that vests in annual 20% installments from February 16, 2023 through February 16, 2026, with an additional grant vesting 100% on February 16, 2027.
CB Financial Services, Inc. Chief Credit Officer Stephen Cobain reported an option exercise-and-sale transaction in CBFV stock. He exercised 1,500 stock options for common shares at an exercise price of $22.48 per share and received 1,500 common shares. On the same date, he sold 1,176 shares at $37.06, 316 shares at $37.25, and 8 shares at $37.40. Footnotes indicate that portions of his holdings include restricted stock and options that vest at 20% per year beginning on specified dates. He also continues to hold stock options on 2,688 underlying shares at a $22.12 exercise price expiring in 2034.
CB Financial Services, Inc. delivered higher profitability for Q2 2026. Net income was $4.3 million compared with $3.9 million a year earlier, and diluted EPS rose to $0.80 from $0.74. For the first half of 2026, net income increased to $8.2 million from $5.9 million as net interest and dividend income grew to $28.4 million from $23.9 million. On a fully tax-equivalent basis (non-GAAP), net interest margin improved to 3.80% for the first half from 3.42%.
Credit quality remained solid. The allowance for credit losses on loans was $10.5 million versus $10.1 million at year-end, while nonperforming assets fell to $3.4 million from $5.3 million, and gross charge-offs for the first half declined versus the prior-year period. The allowance for unfunded commitments decreased to $620,000, reflecting net recoveries.
Total assets reached about $1.66 billion, driven by loan growth to $1.18 billion and securities to $325.6 million, funded by a $40.3 million increase in deposits and $65 million of new short-term borrowings, while brokered deposits declined. Stockholders’ equity rose to $162.1 million, and tangible book value per share increased to $29.99 despite accumulated other comprehensive loss widening to $4.9 million from market value changes in the securities portfolio. The company paid cash dividends of $0.56 per share in the first half.
BlackRock, Inc. reports beneficial ownership of common stock of CB Financial Services, Inc. on a Schedule 13G filing. BlackRock and certain of its reporting business units collectively beneficially own 280,242 shares of CB Financial Services common stock, representing 5.5% of the outstanding class.
BlackRock has sole voting power over 276,175 shares and sole dispositive power over 280,242 shares, with no shared voting or dispositive power reported. Various underlying clients and investors have rights to dividends or sale proceeds from these shares, but no single person holds an interest exceeding five percent of the total outstanding common shares. The filing is signed by a Managing Director of BlackRock.
CB Financial Services, Inc. reported solid second quarter 2026 results. GAAP net income for the quarter was $4,301 thousand (diluted EPS $0.80), with adjusted net income of $4,315 thousand and adjusted diluted EPS of $0.81. For the first six months of 2026, net income was $8,168 thousand. Net interest and dividend income rose to $14,534 thousand, up 15.9% from the prior-year quarter, while the net interest margin was 3.68%, lower than 3.83% in the first quarter but above 3.54% a year earlier.
Total assets reached $1,656,420 thousand and loans were $1,179,721 thousand, supported by growth in commercial and construction real estate lending and strong organic deposit growth. Organic deposits were $1,346,427 thousand, and brokered deposits declined as funding shifted to lower-cost FHLB borrowings. Asset quality remained strong, with nonperforming loans at 0.29% of total loans and an allowance for credit losses of 0.89% of loans, covering 308.5% of nonperforming assets.
The bank’s Tier 1 Leverage ratio stood at 9.94%, and tangible book value per share was $29.99 at June 30, 2026. The board declared a quarterly cash dividend of $0.28 per share, payable on or about August 28, 2026 to shareholders of record on August 14, 2026.
CB Financial Services, Inc. President and CEO John Haines reported an option exercise that increased his direct common stock holdings. He exercised stock options to acquire 3,500 shares of Common Stock at $18.60 per share, bringing his direct ownership to 42,537 shares.
He also holds 2,500 Common Stock shares indirectly through an IRA. In addition, he retains several stock option awards over Common Stock with exercise prices between $22.01 and $26.25 and expirations from 2032 to 2034, providing ongoing equity-based exposure alongside his restricted stock that vests in 20% annual increments.
CB Financial Services, Inc. reported the results of its annual stockholder meeting held on May 20, 2026. Stockholders elected directors Mark E. Fox, John J. LaCarte and David F. Pollock, with each nominee receiving over 2.3 million votes in favor and broker non-votes of 1,075,030.
Stockholders ratified the appointment of Forvis Mazars, LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 4,082,439 votes for and minimal opposition. The advisory vote approved executive compensation, and stockholders expressed a preference for an annual advisory say-on-pay vote.
Based on this preference, the Company will include a non-binding advisory vote on executive compensation in its proxy materials every year until the next required frequency vote at the 2032 annual meeting.
CB Financial Services Inc reports a 13G filing showing a 5.0% passive stake. AllianceBernstein L.P. reports beneficial ownership of 253,883 shares of Common Stock as of 03/31/2026, held in discretionary client accounts and reported on a Schedule 13G. The filing is signed on 05/15/2026.
The filing notes sole voting and dispositive power over the reported shares. AllianceBernstein states it is majority owned by Equitable Holdings, Inc. but operates under independent management and reports ownership separately.