$CBFV

CB Financial Services, Inc.

CIK:0001605301|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST AND DIVIDEND INCOME
Loans, Including Fees	$ 16,177	$ 15,492	$ 32,134	$ 30,020
Investment Securities:
Taxable	3,351	2,860	6,351	5,637
Tax-Exempt	452	0	868	0
Dividends	7	9	14	37
Other Interest and Dividend Income	919	399	1,192	912
TOTAL INTEREST AND DIVIDEND INCOME	20,906	18,760	40,559	36,606
INTEREST EXPENSE
Deposits	5,940	5,721	11,172	11,833
Short-Term Borrowings	70	108	258	131
Other Borrowings	362	391	721	792
TOTAL INTEREST EXPENSE	6,372	6,220	12,151	12,756
NET INTEREST AND DIVIDEND INCOME	14,534	12,540	28,408	23,850
NET INTEREST AND DIVIDEND INCOME AFTER NET PROVISION (RECOVERY) FOR CREDIT LOSSES	14,517	12,532	28,149	23,882
NONINTEREST INCOME
Net Gain on Sale of Loans	45	26	56	49
Net Loss on Investment Securities	(18)	0	(10)	(69)
Net Gain on Purchased Tax Credits	10	4	21	7
Income from Bank-Owned Life Insurance	163	148	315	297
Other Income	115	127	266	282
TOTAL NONINTEREST INCOME	972	931	1,936	1,718
NONINTEREST EXPENSE
Salaries and Employee Benefits	6,120	5,088	12,117	11,124
Occupancy	615	616	1,271	1,366
Equipment	364	372	713	702
Data Processing	1,140	761	2,081	1,558
Federal Deposit Insurance Corporation Assessment	176	203	349	379
Pennsylvania Shares Tax	267	143	554	400
Contracted Services	436	382	841	692
Legal and Professional Fees	198	117	420	378
Advertising	115	124	258	242
Other Real Estate Owned	0	1	0	2
Other Expense	959	941	1,801	1,706
TOTAL NONINTEREST EXPENSE	10,390	8,748	20,405	18,549
Income Before Income Tax Expense	5,099	4,715	9,680	7,051
Income Tax Expense	798	766	1,512	1,193
Net Income	$ 4,301	$ 3,949	$ 8,168	$ 5,858
EARNINGS PER SHARE
Basic (in dollars per share)	$ 0.85	$ 0.79	$ 1.61	$ 1.15
Diluted (in dollars per share)	$ 0.80	$ 0.74	$ 1.54	$ 1.09
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic (in shares)	5,073,474	5,022,813	5,063,585	5,073,911
Diluted (in shares)	5,353,959	5,332,026	5,319,645	5,387,924
Service Fees
NONINTEREST INCOME
Revenue from contract with customer, excluding assessed tax	$ 582	$ 559	$ 1,136	$ 1,021
Commissions
NONINTEREST INCOME
Revenue from contract with customer, excluding assessed tax	75	67	152	131
Loans
INTEREST EXPENSE
Provision (Recovery) for Credit Losses - Loans	157	(136)	385	(68)
Unfunded Commitments
INTEREST EXPENSE
Provision (Recovery) for Credit Losses - Loans	$ (140)	$ 144	$ (126)	$ 36

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net Income	$ 8,168	$ 5,858
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities
Net Accretion on Securities	(560)	(78)
Depreciation and Amortization	1,131	894
Net Loss on Sale of Equity Securities	0	13
Net Unrealized Loss Recognized on Equity Securities	10	56
Gain on Purchased Tax Credits	(21)	(7)
Income from Bank-Owned Life Insurance	(315)	(297)
Proceeds From Mortgage Loans Sold	1,687	3,856
Originations of Mortgage Loans for Sale	(1,631)	(3,822)
Net Gain on Sale of Loans	(56)	(49)
Noncash Expense for Stock-Based Compensation	474	416
Decrease (Increase) in Accrued Interest Receivable	64	(233)
(Benefit) Provision in Deferred Income Tax	(405)	843
Increase in Taxes Payable	644	780
Decrease in Accrued Interest Payable	(455)	(779)
Other, Net	1,449	740
Net Cash Provided by Operating Activities	10,443	8,159
Investment Securities Available for Sale:
Proceeds From Principal Repayments and Maturities	37,863	19,659
Purchases of Securities	(84,874)	(22,637)
Proceeds from Sale of Equity Securities	0	1,680
Net Increase in Loans	(17,511)	(8,968)
Purchase of Premises and Equipment	(268)	(358)
Investment in Low Income Housing Tax Credit	(1,080)	(354)
Investment in Historical Tax Credit	(217)	0
Purchase of Restricted Equity Securities	(6,618)	0
Redemption of Restricted Equity Securities	3,989	47
Net Cash Used in Investing Activities	(68,716)	(10,931)
FINANCING ACTIVITIES
Net Increase in Deposits	40,255	25,915
Net Increase in Short-Term Borrowings	65,000	0
Principal Payments on Other Borrowed Funds	0	(20,000)
Proceeds From Other Borrowed Funds	0	20,000
Cash Dividends Paid	(2,830)	(2,536)
Treasury Stock, Purchases at Cost	(306)	(6,819)
Exercise of Stock Options	551	1,146
Net Cash Provided by Financing Activities	102,670	17,706
Increase in Cash and Due from Banks	44,397	14,934
CASH AND DUE FROM BANKS AT BEGINNING OF YEAR	31,693	49,572
CASH AND DUE FROM BANKS AT END OF PERIOD	76,090	64,506
Cash Paid For:
Interest on Deposits and Borrowings (Including Interest Credited to Deposits of $11,639 and $12,605, Respectively)	12,606	13,537
Income Taxes	640	1,150
SUPPLEMENTAL NONCASH DISCLOSURE:
Transfer of Loans from Loans Held for Sale to Portfolio	0	403
Other Real Estate Acquired in Settlement of Loans	0	158
Syndicated Loans Purchased and Sold Not Settled, net	0	9,000
Right of Use Asset Recognized	552	0
Unfunded Commitment in Low Income Housing Tax Credit	2,958	4,641
Unfunded Commitment in Historical Tax Credits	555	0
Loans
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities
Recovery/Provision for Credit Losses	385	(68)
Unfunded Commitments
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities
Recovery/Provision for Credit Losses	$ (126)	$ 36

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Cash and Due From Banks:
Interest-Earning	$ 62,881	$ 18,374
Noninterest-Earning	13,209	13,319
Total Cash and Due From Banks	76,090	31,693
Securities:
Available-for-Sale Debt Securities, at Fair Value	324,655	278,986
Equity Securities, at Fair Value	899	909
Total Securities	325,554	279,895
Loans, Net of Allowance for Credit Losses of $10,451 and $10,116 at June 30, 2026 and December 31, 2025, Respectively	1,169,270	1,152,144
Premises and Equipment, Net	19,069	19,646
Bank-Owned Life Insurance	25,127	24,812
Goodwill	9,732	9,732
Accrued Interest Receivable and Other Assets	31,578	29,771
TOTAL ASSETS	1,656,420	1,547,693
Deposits:
Noninterest-Bearing Demand Accounts	286,623	291,745
Interest-Bearing Demand Accounts	460,197	357,134
Money Market Accounts	220,812	209,166
Savings Accounts	168,948	169,307
Time Deposits	209,847	213,953
Brokered Deposits	33,633	98,500
Total Deposits	1,380,060	1,339,805
Short-Term Borrowings	65,000	0
Other Borrowings	34,778	34,758
Accrued Interest Payable and Other Liabilities	14,485	15,593
TOTAL LIABILITIES	1,494,323	1,390,156
STOCKHOLDERS' EQUITY
Common Stock, $0.4167 Par Value; 35,000,000 Shares Authorized, 5,877,305 Shares Issued and 5,080,438 Shares Outstanding at June 30, 2026, with 5,835,325 and 5,036,509 Shares Issued and Outstanding at December 31, 2025.	2,449	2,432
Capital Surplus	88,385	87,644
Retained Earnings	95,963	90,625
Treasury Stock, at Cost (796,867 and 798,816 Shares at June 30, 2026 and December 31, 2025, Respectively)	(19,791)	(19,752)
Accumulated Other Comprehensive Loss	(4,909)	(3,412)
TOTAL STOCKHOLDERS' EQUITY	162,097	157,537
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,656,420	$ 1,547,693