Form 8-K
8-K — CB Financial Services, Inc.
Accession: 0001605301-26-000018
Filed: 2026-04-22
Period: 2026-04-22
CIK: 0001605301
SIC: 6022 (STATE COMMERCIAL BANKS)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Other Events
Item: Financial Statements and Exhibits
Documents
8-K — cbfv-20260422.htm (Primary)
EX-99.1 — EX-99.1 EARNINGS RELEASE (a20260331ex9911stqtrearnin.htm)
EX-99.2 — EX-99.2 INVESTOR PRESENTATION (a20260331cbfvinvestorpre.htm)
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8-K
8-K (Primary)
Filename: cbfv-20260422.htm · Sequence: 1
cbfv-20260422
0001605301FALSE00016053012026-04-222026-04-22
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 22, 2026
CB FINANCIAL SERVICES, INC.
(Exact name of registrant as specified in its charter)
Commission file number: 001-36706
Pennsylvania 51-0534721
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)
100 N. Market Street, Carmichaels, PA
15320
(Address of principal executive offices) (Zip Code)
(724) 966-5041
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Common stock, par value $0.4167 per share CBFV The Nasdaq Stock Market, LLC
(Title of each class) (Trading symbol) (Name of each exchange on which registered)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition
period for complying with any new or revised financial accounting standard provided pursuant to Section 13(a) of the
Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On April 22, 2026, CB Financial Services, Inc. ("the Company") issued a press release announcing its financial results for the three months ended March 31, 2026, a copy of which is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
John H. Montgomery, President and Chief Executive Officer, and Amanda L. Engles, Executive Vice President and Chief Financial Officer, of the Company and Community Bank (the “Bank”), will meet with investors at the D.A. Davidson 28th Annual Financial Institutions Conference being held in Nashville, Tennessee on May 4-6, 2026. A copy of the investor presentation to be used at the meeting is furnished herewith as Exhibit 99.2 and is incorporated herein by reference.
Item 8.01. Other Events.
On April 22, 2026, the Company announced that its Board of Directors declared a cash dividend on the Company's outstanding shares of common stock. The dividend of $0.28 per share will be paid on or about May 29, 2026 to stockholders of record as of the close of business on May 15, 2026.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
99.1. Earnings Press Release Dated April 22, 2026
99.2. Investor Presentation - April 2026
104. Cover Page Interactive Data File (embedded in Inline XBRL)
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CB FINANCIAL SERVICES, INC.
Date: April 22, 2026
By: /s/ John H. Montgomery
John H. Montgomery
President and Chief Executive Officer
3
EX-99.1 — EX-99.1 EARNINGS RELEASE
EX-99.1
Filename: a20260331ex9911stqtrearnin.htm · Sequence: 2
Document
EXHIBIT 99.1
CB Financial Services, Inc.
Announces First Quarter 2026 Financial Results and
Declares Quarterly Cash Dividend
WASHINGTON, PA., April 22, 2026 -- CB Financial Services, Inc. (“CB” or the “Company”) (NASDAQGM: CBFV), the holding company of Community Bank (the “Bank”), today announced its first quarter 2026 financial results.
Three Months Ended
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
(Dollars in thousands, except per share data) (Unaudited)
Net Income (Loss) (GAAP)
$ 3,867 $ 4,742 $ (5,696) $ 3,949 $ 1,909
Net Income Adjustments
(13) (943) 9,623 — 808
Adjusted Net Income (Non-GAAP) (1)
$ 3,854 $ 3,799 $ 3,927 $ 3,949 $ 2,717
Earnings (Loss) per Common Share - Diluted (GAAP) $ 0.73 $ 0.89 $ (1.07) $ 0.74 $ 0.35
Adjusted Earnings per Common Share - Diluted (Non-GAAP) (1)
$ 0.72 $ 0.72 $ 0.74 $ 0.74 $ 0.50
Income (Loss) Before Income Tax Expense (GAAP) $ 4,581 $ 5,270 $ (7,020) $ 4,715 $ 2,336
Net Provision (Recovery) for Credit Losses 241 362 259 8 (40)
Pre-Provision Net Revenue (“PPNR”)
$ 4,822 $ 5,632 $ (6,761) $ 4,723 $ 2,296
Net Income Adjustments (16) (765) 11,752 — 1,023
Adjusted PPNR (Non-GAAP) (1)
$ 4,806 $ 4,867 $ 4,991 $ 4,723 $ 3,319
(1) Refer to Explanation of Use of Non-GAAP Financial Measures and reconciliation of adjusted net income and adjusted earnings per common share - diluted as presented later in this Press Release.
2026 First Quarter Financial Highlights
•Total assets were $1.58 billion at March 31, 2026, an increase of $35.6 million from December 31, 2025. Strong deposit growth augmented cash balances and funded investment security purchases. The Bank continues to focus efforts on repositioning the balance sheet to maximize earnings while maintaining a stable risk profile. These strategic movements include:
◦Effectively managing cash and liquidity.
◦Redeploying repayments of indirect automobile and residential mortgage loans into higher-yielding commercial loan products. Commercial loans totaled 61.1% of the Bank’s loan portfolio at March 31, 2026 compared to 55.6% at March 31, 2025.
◦The Bank continues to strategically shift its deposit mix toward lower cost core deposit relationships and away from higher priced funding, a favorable transition driven by the ongoing onboarding of Specialty Treasury clients that began during the first quarter of 2026.
•Net interest margin (NIM) improved for the sixth consecutive quarter to 3.83% for the three months ended March 31, 2026 compared to 3.76% for the three months ended December 31, 2025. The improved NIM resulted from a reduction in the cost of funds to 1.70% from 1.78% resulting from favorable changes in the Bank’s deposit mix coupled with disciplined deposit pricing and the recent reduction in the target federal funds rate. During the three months ended March 31, 2026, Specialty Treasury deposits grew by $27.6 million primarily in noninterest bearing and low interest bearing demand deposits leading to the improvement in the Bank’s deposit mix. This was partially offset as the yield on earning assets decreased to 5.47% from 5.48% due to the effect of the recent target federal funds rate cut on asset repricing.
•Noninterest expenses increased $89,000 to $10.0 million for the three months ended March 31, 2026 compared to $9.9 million for the three months ended December 31, 2025. This increase was driven by increases in salaries and employee benefits due to higher payroll taxes and healthcare benefits, data processing due to the implementation of enhanced treasury and commercial banking platforms and occupancy expenses due to higher winter maintenance and utility costs.
•Asset quality remains strong as nonperforming loans to total loans was 0.29% at March 31, 2026.
1
EXHIBIT 99.1
•Book value per share and tangible book value per share (Non-GAAP) was $31.30 and $29.38, respectively at March 31, 2026. The improvements since year-end 2025 resulted from increased equity due to current period net income, partially offset by the increase in accumulated other comprehensive losses, treasury shares repurchased under the Company’s stock repurchase program and the payment of dividends.
•The Bank remains well-capitalized and is positioned for future growth.
Management Commentary
President and CEO John H. Montgomery commented, “Our first quarter results reflect meaningful progress across our core financial objectives, reflecting the strength of our strategy and the disciplined execution of our team. Net interest margin improvement was largely attributable to a lower cost of funds, driven by a more favorable deposit mix, disciplined deposit pricing, and the cumulative impact of federal funds target rate reductions. Complementing this, earning asset yields held up well as our balance sheet restructuring executed in the third quarter last year continued to insulate the portfolio against rate reductions on asset repricing, strengthening both our financial foundation and our ability to generate sustainable earnings growth. Throughout this period, we remained focused on advancing key strategic initiatives that we believe set the Company on a stronger trajectory as we move through 2026 and beyond.
While macroeconomic uncertainties persist, our approach remains grounded in prudent financial management, disciplined balance sheet positioning, and a consistent commitment to maintaining the credit quality our shareholders have come to expect. Total loans decreased by $4.4 million, or 0.4%, during the quarter,with decreases in consumer, commercial and industrial and commercial real estate loans more than offsetting increases in construction and residential real estate loans. Loan demand showed momentum during the quarter, with production totaling $30.5 million against $29.4 million in payoffs over the past three months. Our asset quality continues to be strong, with nonperforming loans representing 0.29% of total loans and the allowance for credit losses covering 309.5% of nonperforming assets at quarter-end. We remain confident in the overall health of our loan portfolio and our ability to manage risk effectively as we continue to grow.
During the first quarter, our Specialty Treasury Payments & Services program, a key pillar of our long-term strategy to drive sustainable revenue growth and expand our core deposit base, delivered meaningful early results. Building on the full deployment completed in the fourth quarter last year, we made measurable progress onboarding new customers and deepening relationships within the program, generating $28 million in new deposits since year-end. We remain confident this high-value investment will enhance our franchise's strength, efficiency and scalability while generating significant revenue growth over time. While bringing new customers fully onto the platform requires time, we are encouraged by the pipeline and the quality of relationships we are building.
We continue to build out our mortgage lending capabilities as a core pillar of our growth strategy, deepening customer relationships and diversifying revenue while creating meaningful cross-selling opportunities within our primary market. This initiative is a natural extension of our relationship-banking model and reinforces our broader lending and deposit growth objectives. While we pursue new avenues for growth, our commitment to the local customers and communities remains as strong as ever — they are the foundation of who we are and central to everything we do.
As we approach our 125th anniversary on July 1, 2026, we will mark this milestone through our Generations of Trust marketing campaign, reinforcing the longevity, stability, and community dedication that have defined our institution across five generations. We believe this initiative will strengthen brand awareness and deepen customer relationships in the markets we serve, supporting our long-term growth objectives.”
Dividend Declaration
The Company’s Board of Directors declared a $0.28 quarterly cash dividend per outstanding share of common stock, payable on or about May 29, 2026, to stockholders of record as of the close of business on May 15, 2026.
2026 First Quarter Financial Review
Net Interest and Dividend Income
Net interest and dividend income increased $2.6 million, or 22.6%, to $13.9 million for the three months ended March 31, 2026 compared to $11.3 million for the three months ended March 31, 2025.
•Net Interest Margin (NIM) (GAAP) increased to 3.83% for the three months ended March 31, 2026 compared to 3.27% for the three months ended March 31, 2025. Fully tax equivalent (FTE) NIM (Non-GAAP) increased 60 basis points (“bps”) to 3.88% for the three months ended March 31, 2026 compared to 3.28% for the three months ended March 31, 2025.
•Interest and dividend income increased $1.8 million, or 10.1%, to $19.7 million for the three months ended March 31, 2026 compared to $17.8 million for the three months ended March 31, 2025.
2
◦Interest income on loans increased $1.4 million, or 9.8%, to $16.0 million for the three months ended March 31, 2026 compared to $14.5 million for the three months ended March 31, 2025. The average balance of loans increased $76.9 million to $1.15 billion from $1.08 billion, causing a $1.1 million increase in interest income on loans. Additionally, the average yield on loans increased 14 bps to 5.64% from 5.50% despite a 75 bp reduction in the federal funds target rate since September 2025. While this led to the downward repricing of adjustable rate loans, the impact was negated by a reduction in lower yielding consumer loans due to the discontinuation of the indirect automobile loan product with the redeployment of those funds into higher yielding commercial loan products. The increase in the average yield caused a $378,000 increase in interest income on loans.
◦Interest income on investment securities increased $638,000, or 23.0%, to $3.4 million for the three months ended March 31, 2026 compared to $2.8 million for the three months ended March 31, 2025 driven by a 96 bp increase in average yields, coupled with a $6.8 million increase in average balances. The increase in yield was primarily due to the third quarter 2025 implementation of a balance sheet repositioning strategy of the Bank’s portfolio of available-for-sale investment securities in which $129.6 million in book value of lower-yielding investment securities with an average yield of 2.87% were sold for an after-tax realized loss of $9.3 million. Investment securities sold included $121.1 million of mortgage-backed securities/collateralized mortgage obligations issued by the U.S. government-sponsored agencies, $5.0 million of U.S. government agency securities and $3.5 million of municipal securities. The Bank then purchased $117.8 million of higher-yielding mortgage-backed securities/collateralized mortgage obligations issued by U.S government-sponsored agencies, municipal securities, subordinated debt investments and non-agency guaranteed securitizations with an expected tax-equivalent yield of approximately 5.43%.
◦Interest income on interest-earning deposits at other banks decreased $259,000 to $200,000 for the three months ended March 31, 2026 compared to $459,000 for the three months ended March 31, 2025 driven by a 113 bp decrease in the average yield and a $17.8 million decrease in average balances. The decrease in the yield was directly related to the Federal Reserve’s reductions in the target federal funds rate while the decrease in the volume was due to the funding of loans.
•Interest expense decreased $757,000, or 11.6%, to $5.8 million for the three months ended March 31, 2026 compared to $6.5 million for the three months ended March 31, 2025.
◦Interest expense on deposits decreased $879,000, or 14.4%, to $5.2 million for the three months ended March 31, 2026 compared to $6.1 million for the three months ended March 31, 2025. The cost of interest-bearing deposits declined 43 bps to 2.03% for the three months ended March 31, 2026 from 2.46% for the three months ended March 31, 2025 due to the change in the deposit mix and the recent Federal Reserve federal funds target rate decreases. The decrease in the cost of interest-bearing deposits accounted for a $1.1 million decrease in interest expense. This was partially offset as average interest-bearing deposit balances increased $39.4 million, or 3.9%, to $1.05 billion as of March 31, 2026 compared to $1.01 billion as of March 31, 2025, primarily as the Bank grew core banking relationships, onboarded Specialty Treasury clients and strategically reduced time deposit only relationships. The increase in average balances accounted for a $221,000 increase in interest expense.
Provision for Credit Losses
A provision for credit losses of $241,000 was recorded for the three months ended March 31, 2026. The provision for credit losses on loans was $228,000 and was primarily due to additional reserves required for individually assessed loans requiring specific reserves and charge-offs. Additionally, the provision for credit losses on unfunded commitments was $13,000 and was due to an increase in unfunded commitments. This compared to a recovery for credit losses of $40,000 recorded for the three months ended March 31, 2025 as the provision for credit losses on loans was $68,000 primarily due to qualitative adjustments on economic factors, and the provision for credit losses on unfunded commitments was $108,000 due to a decrease in unfunded commitments and a decrease in funding rates.
Noninterest Income
Noninterest income increased $175,000, or 22.2%, to $962,000 for the three months ended March 31, 2026, compared to $787,000 for the three months ended March 31, 2025 primarily due to a $92,000 increase in service fees related to corporate deposit and Individual Covered Health Reimbursement Arrangement accounts and a $77,000 increase in net gain on securities due to net losses of $69,000 recognized for the three months ended March 31, 2025 related primarily to the sale of equity securities.
3
Noninterest Expense
Noninterest expense increased $210,000, or 2.1%, to $10.0 million for the three months ended March 31, 2026 compared to $9.8 million for the three months ended March 31, 2025. Data processing expense increased $145,000 due to the implementation of enhanced treasury and commercial banking platforms in late 2025. Contracted services increased $95,000 due to outsourced information security services and robotic process automation projects. Other noninterest expense increased $76,000 due to increases in travel, meals and entertainment expenses related to sales activities and increases in dues and subscriptions and printing and office supplies expenses. Partially offsetting these increases, occupancy expense decreased $94,000 due to certain property management cost savings initiatives implemented in 2025 and salaries and benefits decreased $39,000. During the three months ended March 31, 2025, the Bank recorded $1.0 million of one-time non-recurring expenses related to a reduction in force. Excluding these one-time charges, salaries and benefits increased $1.0 million primarily due to revenue producing treasury and commercial banking personnel additions, merit increases and higher benefit compensation costs.
Statement of Financial Condition Review
Assets
Total assets increased $35.6 million, or 2.3%, to $1.58 billion at March 31, 2026, compared to $1.55 billion at December 31, 2025.
•Cash and due from banks increased $23.9 million, or 75.3%, to $55.5 million at March 31, 2026, compared to $31.7 million at December 31, 2025, driven by deposit growth.
•Securities increased $15.6 million, or 5.6%, to $295.5 million at March 31, 2026, compared to $279.9 million at December 31, 2025. This was primarily due to $26.0 million of security purchases, partially offset by $8.8 million of repayments on amortizing securities and a $1.9 million increase in unrealized losses on the portfolio.
Loans and Credit Quality
•Total loans decreased $4.4 million, or 0.4%, to $1.158 billion compared to $1.162 billion, and included decreases in consumer, commercial and industrial and commercial real estate loans of $6.2 million, $3.4 million and $2.2 million, respectively, partially offset by increases in construction and residential real estate loans of $6.0 million and $1.5 million, respectively. The decrease in consumer loans resulted from a reduction in indirect automobile loan production due to the discontinuation of this product offering as of June 30, 2023. This portfolio is expected to continue to decline as resources are allocated and production efforts are focused on more profitable commercial products. Excluding the $5.8 million decrease in indirect automobile loans, total loans increased $1.4 million, or 0.1%. Loan production totaled $30.5 million while $29.4 million of loans were paid off since December 31, 2025.
•Nonperforming loans, which include nonaccrual loans and accruing loans past due 90 days or more, were $3.3 million at March 31, 2026 and $5.3 million at December 31, 2025. Nonperforming loans to total loans ratio was 0.29% at March 31, 2026 and 0.46% at December 31, 2025. The decrease in nonperforming loans was due to the full repayment of a $2.0 million commercial real estate loan which was placed on nonaccrual status in the fourth quarter of 2025.
•The allowance for credit losses (ACL) was $10.3 million at March 31, 2026 and $10.1 million at December 31, 2025. As a result, the ACL to total loans was 0.89% at March 31, 2026 and 0.87% at December 31, 2025. During the current year, the Company recorded a net provision for credit losses of $241,000. The ACL to nonperforming assets was 309.5% at March 31, 2026 and 190.5% at December 31, 2025.
•Net charge-offs for the three months ended March 31, 2026 were $41,000, or 0.01% of average loans on an annualized basis. Net charge-offs for the three months ended March 31, 2025 were $54,000, or 0.02% of average loans on an annualized basis.
Liabilities
Total liabilities increased $34.4 million, or 2.5%, to $1.42 billion at March 31, 2026 compared to $1.39 billion at December 31, 2025.
Deposits
•Total deposits increased $35.6 million, or 2.7%, to $1.38 billion as of March 31, 2026 compared to $1.34 billion at December 31, 2025. Interest-bearing demand, non interest-bearing demand and savings deposits increased $27.5 million, $9.3 million and $2.9 million, respectively, while time deposits decreased $4.1 million. This favorable change in the deposit mix occurred as the Bank began onboarding Specialty Treasury clients during the three months ended March 31, 2026. The Bank continues to focus on building core banking relationships while strategically reducing higher priced funding. Brokered time deposits totaled $98.5 million as of March 31, 2026 and December 31, 2025, all of which mature within three months and were utilized to fund the purchase of floating rate CLO securities. At March 31, 2026, FDIC insured deposits totaled approximately 58.8% of total deposits while an additional 16.7% of total deposits were collateralized with investment securities.
4
Stockholders’ Equity
Stockholders’ equity increased $1.2 million, or 0.8%, to $158.8 million at March 31, 2026, compared to $157.5 million at December 31, 2025. The key factors positively impacting stockholders’ equity were $3.9 million of net income for the current year and $341,000 of shares issued as a result of stock option exercises, partially offset by a $1.5 million increase in accumulated other comprehensive loss resulting from market interest rate changes, the payment of $1.4 million in dividends and $292,000 of treasury shares purchased under the stock repurchase program since December 31, 2025.
Book value per share
Book value per common share was $31.30 at March 31, 2026 compared to $31.28 at December 31, 2025, an increase of $0.02.
Tangible book value per common share (Non-GAAP) was $29.38 at March 31, 2026, compared to $29.35 at December 31, 2025, an increase of $0.03.
Refer to “Explanation of Use of Non-GAAP Financial Measures” at the end of this Press Release.
About CB Financial Services, Inc.
CB Financial Services, Inc. is the bank holding company for Community Bank, a Pennsylvania-chartered commercial bank. Community Bank operates its branch network in southwestern Pennsylvania and West Virginia. Community Bank offers a broad array of retail and commercial lending and deposit services.
For more information about CB Financial Services, Inc. and Community Bank, visit our website at www.cb.bank.
Statement About Forward-Looking Statements
Statements contained in this press release that are not historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and such forward-looking statements are subject to significant risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Act. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations and future prospects of the Company and its subsidiaries include, but are not limited to, general and local economic conditions, changes in market interest rates, deposit flows, demand for loans, real estate values and competition, competitive products and pricing, the ability of our customers to make scheduled loan payments, loan delinquency rates and trends, our ability to manage the risks involved in our business, our ability to control costs and expenses, inflation, market and monetary fluctuations, changes in federal and state legislation and regulation applicable to our business, actions by our competitors, and other factors that may be disclosed in the Company’s periodic reports as filed with the Securities and Exchange Commission. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company assumes no obligation to update any forward-looking statements except as may be required by applicable law or regulation.
Company Contact:
John H. Montgomery
President and Chief Executive Officer
Phone: (724) 223-8317
5
CB FINANCIAL SERVICES, INC.
SELECTED CONSOLIDATED FINANCIAL INFORMATION
(Dollars in thousands, except share and per share data) (Unaudited)
Selected Financial Condition Data 3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
Assets
Cash and Due From Banks $ 55,549 $ 31,693 $ 55,890 $ 64,506 $ 61,274
Securities 295,452 279,895 272,559 267,171 258,699
Loans Held for Sale — — 107 512 230
Loans
Real Estate:
Residential 330,761 329,237 333,430 329,324 334,744
Commercial 550,029 552,180 539,395 513,197 497,316
Construction 51,394 45,419 38,905 40,680 54,597
Commercial and Industrial 157,694 161,081 143,919 138,221 107,419
Consumer 36,720 42,876 49,581 57,376 61,854
Other 31,239 31,467 38,156 32,026 32,564
Total Loans 1,157,837 1,162,260 1,143,386 1,110,824 1,088,494
Allowance for Credit Losses (10,303) (10,116) (10,146) (9,722) (9,819)
Loans, Net 1,147,534 1,152,144 1,133,240 1,101,102 1,078,675
Premises and Equipment, Net 19,428 19,646 19,896 20,223 20,392
Bank-Owned Life Insurance 24,964 24,812 24,660 24,506 24,358
Goodwill 9,732 9,732 9,732 9,732 9,732
Accrued Interest Receivable and Other Assets 30,633 29,771 29,430 30,232 30,096
Total Assets $ 1,583,292 $ 1,547,693 $ 1,545,514 $ 1,517,984 $ 1,483,456
Liabilities
Deposits
Noninterest-Bearing Demand Accounts $ 301,053 $ 291,745 $ 291,882 $ 278,685 $ 267,392
Interest-Bearing Demand Accounts 384,599 357,134 365,976 353,448 341,212
Money Market Accounts 209,258 209,166 206,166 225,141 228,005
Savings Accounts 172,172 169,307 169,005 172,021 176,722
Time Deposits 308,355 312,453 301,391 280,137 267,766
Total Deposits 1,375,437 1,339,805 1,334,420 1,309,432 1,281,097
Other Borrowings 34,768 34,758 34,748 34,738 34,728
Accrued Interest Payable and Other Liabilities 14,336 15,593 23,881 25,452 19,342
Total Liabilities 1,424,541 1,390,156 1,393,049 1,369,622 1,335,167
Stockholders’ Equity 158,751 157,537 152,465 148,362 148,289
Total Liabilities and Stockholders’ Equity $ 1,583,292 $ 1,547,693 $ 1,545,514 $ 1,517,984 $ 1,483,456
6
(Dollars in thousands, except share and per share data) (Unaudited)
Three Months Ended
Selected Operating Data 3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
Interest and Dividend Income:
Loans, Including Fees $ 15,957 $ 16,077 $ 15,973 $ 15,492 $ 14,528
Securities:
Taxable 2,999 3,035 2,848 2,860 2,777
Tax-Exempt 416 415 146 — —
Dividends 7 7 7 9 28
Other Interest and Dividend Income 272 458 367 399 514
Total Interest and Dividend Income 19,651 19,992 19,341 18,760 17,847
Interest Expense:
Deposits 5,232 5,802 5,810 5,721 6,111
Short-Term Borrowings 188 — 68 108 23
Other Borrowings 359 364 364 391 402
Total Interest Expense 5,779 6,166 6,242 6,220 6,536
Net Interest and Dividend Income 13,872 13,826 13,099 12,540 11,311
Provision (Recovery) for Credit Losses - Loans 228 265 336 (136) 68
Provision (Recovery) for Credit Losses - Unfunded Commitments 13 97 (77) 144 (108)
Net Interest and Dividend Income After Net Provision (Recovery) for Credit Losses 13,631 13,464 12,840 12,532 11,351
Noninterest Income:
Service Fees 554 585 574 559 462
Insurance Commissions 1 1 1 1 1
Other Commissions 75 60 63 66 63
Net Gain on Sale of Loans 11 6 50 26 22
Net Gain (Loss) on Securities 8 14 (11,752) — (69)
Net Gain on Purchased Tax Credits 10 4 4 4 4
Net Gain on Disposal of Premises and Equipment — 40 — — —
Income from Bank-Owned Life Insurance 152 152 154 148 149
Other Income 151 867 229 127 155
Total Noninterest Income (Loss) 962 1,729 (10,677) 931 787
Noninterest Expense:
Salaries and Employee Benefits 5,997 5,842 5,247 5,088 6,036
Occupancy 656 573 574 616 750
Equipment 349 382 367 372 330
Data Processing 942 790 708 761 797
Federal Deposit Insurance Corporation Assessment 173 171 173 203 176
Pennsylvania Shares Tax 286 242 306 143 257
Contracted Services 405 481 371 382 310
Legal and Professional Fees 221 234 411 117 262
Advertising 142 192 132 124 119
Other Real Estate Owned
— 55 8 1 —
Other Expense 841 961 886 941 765
Total Noninterest Expense 10,012 9,923 9,183 8,748 9,802
Income (Loss) Before Income Tax Expense 4,581 5,270 (7,020) 4,715 2,336
Income Tax Expense (Benefit) 714 528 (1,324) 766 427
Net Income (Loss) $ 3,867 $ 4,742 $ (5,696) $ 3,949 $ 1,909
7
Three Months Ended
Per Common Share Data 3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
Dividends Per Common Share $ 0.28 $ 0.26 $ 0.26 $ 0.25 $ 0.25
Earnings (Loss) Per Common Share - Basic 0.77 0.95 (1.14) 0.79 0.37
Earnings (Loss) Per Common Share - Diluted 0.73 0.89 (1.07) 0.74 0.35
Weighted Average Common Shares Outstanding - Basic 5,053,586 5,015,025 4,985,188 5,022,813 5,125,577
Weighted Average Common Shares Outstanding - Diluted 5,318,874 5,304,685 5,319,594 5,332,026 5,471,006
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
Common Shares Outstanding 5,072,183 5,036,509 4,998,383 4,972,300 5,099,069
Book Value Per Common Share $ 31.30 $ 31.28 $ 30.50 $ 29.84 $ 29.08
Tangible Book Value per Common Share (1)
29.38 29.35 28.56 27.88 27.17
Stockholders’ Equity to Assets 10.0 % 10.2 % 9.9 % 9.8 % 10.0 %
Tangible Common Equity to Tangible Assets (1)
9.5 9.6 9.3 9.2 9.4
Three Months Ended
Selected Financial Ratios (2)
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
Return on Average Assets 1.01 % 1.22 % (1.50) % 1.06 % 0.53 %
Return on Average Equity 9.84 12.14 (15.15) 10.76 5.24
Average Interest-Earning Assets to Average Interest-Bearing Liabilities 133.68 134.05 134.42 135.33 134.70
Average Equity to Average Assets 10.24 10.02 9.93 9.88 10.07
Net Interest Rate Spread 3.29 3.18 3.05 2.91 2.61
Net Interest Rate Spread (FTE) (1)
3.34 3.23 3.08 2.93 2.63
Net Interest Margin 3.83 3.76 3.64 3.54 3.27
Net Interest Margin (FTE) (1)
3.88 3.80 3.67 3.55 3.28
Net Charge-Offs (Recoveries) to Average Loans
0.01 0.10 (0.03) (0.01) 0.02
Efficiency Ratio 67.49 63.79 379.15 64.94 81.02
Asset Quality Ratios 3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
Allowance for Credit Losses to Total Loans 0.89 % 0.87 % 0.89 % 0.88 % 0.90 %
Allowance for Credit Losses to Nonperforming Loans (3)
309.49 190.51 464.99 550.20 414.48
Delinquent and Nonaccrual Loans to Total Loans (4)
0.54 0.86 0.59 0.49 0.54
Nonperforming Loans to Total Loans (3)
0.29 0.46 0.19 0.16 0.22
Nonperforming Assets to Total Assets (5)
0.21 0.34 0.15 0.13 0.16
Capital Ratios (6)
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
Common Equity Tier 1 Capital (to Risk Weighted Assets) 14.70 % 13.92 % 14.19 % 15.28 % 14.94 %
Tier 1 Capital (to Risk Weighted Assets) 14.70 13.92 14.19 15.28 14.94
Total Capital (to Risk Weighted Assets) 15.71 14.89 15.20 16.29 15.95
Tier 1 Leverage (to Adjusted Total Assets) 10.34 10.15 10.06 10.49 10.36
(1) Refer to Explanation of Use of Non-GAAP Financial Measures in this Press Release for the calculation of the measure and reconciliation to the most comparable GAAP measure.
(2) Interim period ratios are calculated on an annualized basis.
(3) Nonperforming loans consist of all nonaccrual loans and accruing loans that are 90 days or more past due.
(4) Delinquent loans consist of accruing loans that are 30 days or more past due.
(5) Nonperforming assets consist of nonperforming loans and other real estate owned.
(6) Capital ratios are for Community Bank only.
Certain items previously reported may have been reclassified to conform with the current reporting period’s format.
8
AVERAGE BALANCES AND YIELDS
Three Months Ended
March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025
Average Balance Interest and Dividends
Yield / Cost (1)
Average Balance Interest and Dividends
Yield / Cost (1)
Average Balance Interest and Dividends
Yield / Cost (1)
Average Balance Interest and Dividends
Yield / Cost (1)
Average Balance Interest and Dividends
Yield / Cost (1)
(Dollars in thousands) (Unaudited)
Assets:
Interest-Earning Assets:
Loans, Net (2)
$ 1,151,941 $ 16,023 5.64 % $ 1,138,734 $ 16,145 5.62 % $ 1,120,036 $ 16,034 5.68 % $ 1,098,698 $ 15,549 5.68 % $ 1,075,083 $ 14,584 5.50 %
Debt Securities
Taxable 249,917 2,999 4.80 241,449 3,035 5.03 259,196 2,848 4.40 284,499 2,860 4.02 278,362 2,777 3.99
Tax-Exempt 35,218 527 5.99 35,243 525 5.96 12,461 185 5.94 — — — — — —
Equity Securities 1,000 7 2.80 1,000 7 2.80 1,000 7 2.80 1,000 9 3.60 2,674 28 4.19
Interest-Earning Deposits at Banks 27,236 200 2.94 41,222 384 3.73 29,682 293 3.95 33,564 331 3.94 45,056 459 4.07
Other Interest-Earning Assets 3,874 72 7.54 2,998 74 9.79 3,972 74 7.39 3,767 68 7.24 3,196 55 6.98
Total Interest-Earning Assets 1,469,186 19,828 5.47 1,460,646 20,170 5.48 1,426,347 19,441 5.41 1,421,528 18,817 5.31 1,404,371 17,903 5.17
Noninterest-Earning Assets 87,352 85,605 75,480 67,513 63,324
Total Assets $ 1,556,538 $ 1,546,251 $ 1,501,827 $ 1,489,041 $ 1,467,695
Liabilities and Stockholders' Equity:
Interest-Bearing Liabilities:
Interest-Bearing Demand Accounts $ 365,729 $ 1,642 1.82 % $ 367,382 $ 1,850 2.00 % $ 350,232 $ 1,835 2.08 % $ 334,752 $ 1,677 2.01 % $ 317,799 $ 1,526 1.95 %
Money Market Accounts 209,181 1,104 2.14 212,212 1,232 2.30 211,660 1,401 2.63 238,195 1,747 2.94 230,634 1,726 3.04
Savings Accounts 169,568 40 0.10 168,853 45 0.11 171,188 43 0.10 174,055 42 0.10 172,322 41 0.10
Time Deposits 300,781 2,446 3.30 306,395 2,675 3.46 287,646 2,531 3.49 259,506 2,255 3.49 285,093 2,818 4.01
Total Interest-Bearing Deposits 1,045,259 5,232 2.03 1,054,842 5,802 2.18 1,020,726 5,810 2.26 1,006,508 5,721 2.28 1,005,848 6,111 2.46
Short-Term Borrowings 18,990 188 4.01 16 — 4.71 5,655 68 4.77 9,143 108 4.74 1,985 23 4.70
Other Borrowings 34,764 359 4.19 34,754 364 4.16 34,743 364 4.16 34,733 391 4.52 34,723 402 4.70
Total Interest-Bearing Liabilities 1,099,013 5,779 2.13 1,089,612 6,166 2.25 1,061,124 6,242 2.33 1,050,384 6,220 2.38 1,042,556 6,536 2.54
Noninterest-Bearing Demand Deposits 283,546 285,269 271,462 270,729 265,522
Total Funding and Cost of Funds
1,382,559 1.70 1,374,881 1.78 1,332,586 1.86 1,321,113 1.89 1,308,078 2.03
Other Liabilities 14,564 16,367 20,120 20,789 11,854
Total Liabilities 1,397,123 1,391,248 1,352,706 1,341,902 1,319,932
Stockholders' Equity 159,415 155,003 149,121 147,139 147,763
Total Liabilities and Stockholders' Equity $ 1,556,538 $ 1,546,251 $ 1,501,827 $ 1,489,041 $ 1,467,695
Net Interest Income (FTE)
(Non-GAAP) (3)
$ 14,049 $ 14,004 $ 13,199 $ 12,597 $ 11,367
Net Interest-Earning Assets (4)
370,173 371,034 365,223 371,144 361,815
Net Interest Rate Spread (FTE)
(Non-GAAP) (3) (5)
3.34 % 3.23 % 3.08 % 2.93 % 2.63 %
Net Interest Margin (FTE)
(Non-GAAP) (3)(6)
3.88 3.80 3.67 3.55 3.28
(1) Annualized based on three months ended results.
(2) Net of the allowance for credit losses and includes nonaccrual loans with a zero yield and Loans Held for Sale if applicable.
(3) Refer to Explanation and Use of Non-GAAP Financial Measures in this Press Release for the calculation of the measure and reconciliation to the most comparable GAAP measure.
(4) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
(5) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
(6) Net interest margin represents annualized net interest income divided by average total interest-earning assets.
9
Explanation of Use of Non-GAAP Financial Measures
In addition to financial measures presented in accordance with generally accepted accounting principles (“GAAP”), we use, and this Press Release contains or references, certain Non-GAAP financial measures. We believe these Non-GAAP financial measures provide useful information in understanding our underlying results of operations or financial position and our business and performance trends as they facilitate comparisons with the performance of other companies in the financial services industry. Non-GAAP adjusted items impacting the Company's financial performance are identified to assist investors in providing a complete understanding of factors and trends affecting the Company’s business and in analyzing the Company’s operating results on the same basis as that applied by management. Although we believe that these Non-GAAP financial measures enhance the understanding of our business and performance, they should not be considered an alternative to GAAP or considered to be more important than financial results determined in accordance with GAAP, nor are they necessarily comparable with similar Non-GAAP measures which may be presented by other companies. Where Non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found herein.
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
(Dollars in thousands, except share and per share data) (Unaudited)
Total Assets (GAAP)
$ 1,583,292 $ 1,547,693 $ 1,545,514 $ 1,517,984 $ 1,483,456
Goodwill and Intangible Assets, Net (9,732) (9,732) (9,732) (9,732) (9,732)
Tangible Assets (Non-GAAP) (Numerator) $ 1,573,560 $ 1,537,961 $ 1,535,782 $ 1,508,252 $ 1,473,724
Stockholders' Equity (GAAP) $ 158,751 $ 157,537 $ 152,465 $ 148,362 $ 148,289
Goodwill and Intangible Assets, Net (9,732) (9,732) (9,732) (9,732) (9,732)
Tangible Common Equity or Tangible Book Value (Non-GAAP) (Denominator) $ 149,019 $ 147,805 $ 142,733 $ 138,630 $ 138,557
Stockholders’ Equity to Assets (GAAP) 10.0 % 10.2 % 9.9 % 9.8 % 10.0 %
Tangible Common Equity to Tangible Assets (Non-GAAP) 9.5 % 9.6 % 9.3 % 9.2 % 9.4 %
Common Shares Outstanding (Denominator) 5,072,183 5,036,509 4,998,383 4,972,300 5,099,069
Book Value per Common Share (GAAP) $ 31.30 $ 31.28 $ 30.50 $ 29.84 $ 29.08
Tangible Book Value per Common Share (Non-GAAP) $ 29.38 $ 29.35 $ 28.56 $ 27.88 $ 27.17
Three Months Ended
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
(Dollars in thousands) (Unaudited)
Net Income (Loss) (GAAP) $ 3,867 $ 4,742 $ (5,696) $ 3,949 $ 1,909
Annualization Factor 4.06 3.97 3.97 4.01 4.06
Average Stockholders' Equity (GAAP) $ 159,415 $ 155,003 $ 149,121 $ 147,139 $ 147,763
Average Goodwill and Intangible Assets, Net (9,732) (9,732) (9,732) (9,732) (9,732)
Average Tangible Common Equity (Non-GAAP) (Denominator) $ 149,683 $ 145,271 $ 139,389 $ 137,407 $ 138,031
Return on Average Equity (GAAP) 9.84 % 12.14 % (15.15) % 10.76 % 5.24 %
Return on Average Tangible Common Equity (Non-GAAP) 10.48 % 12.95 % (16.21) % 11.53 % 5.61 %
10
Three Months Ended
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
(Dollars in thousands) (Unaudited)
Interest Income (GAAP) $ 19,651 $ 19,992 $ 19,341 $ 18,760 $ 17,847
Adjustment to FTE Basis 177 178 100 57 56
Interest Income (FTE) (Non-GAAP) 19,828 20,170 19,441 18,817 17,903
Interest Expense (GAAP) 5,779 6,166 6,242 6,220 6,536
Net Interest Income (FTE) (Non-GAAP) $ 14,049 $ 14,004 $ 13,199 $ 12,597 $ 11,367
Net Interest Rate Spread (GAAP) 3.29 % 3.18 % 3.05 % 2.91 % 2.61 %
Adjustment to FTE Basis 0.05 0.05 0.03 0.02 0.02
Net Interest Rate Spread (FTE) (Non-GAAP) 3.34 % 3.23 % 3.08 % 2.93 % 2.63 %
Net Interest Margin (GAAP) 3.83 % 3.76 % 3.64 % 3.54 % 3.27 %
Adjustment to FTE Basis 0.05 0.04 0.03 0.01 0.01
Net Interest Margin (FTE) (Non-GAAP) 3.88 % 3.80 % 3.67 % 3.55 % 3.28 %
Three Months Ended
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
(Dollars in thousands) (Unaudited)
Income (Loss) Before Income Tax Expense (GAAP) $ 4,581 $ 5,270 $ (7,020) $ 4,715 $ 2,336
Net Provision (Recovery) for Credit Losses 241 362 259 8 (40)
PPNR (Non-GAAP)
4,822 5,632 (6,761) 4,723 2,296
Adjustments
Net (Gain) Loss on Securities (8) (14) 11,752 — 69
Net Gain on Disposal of Premises and Equipment — (40) — — —
Earn-out Payment Related to the Sale of EU (8) (711) — — (49)
Reduction in Force Expenses — — — — 1,003
Adjusted PPNR (Non-GAAP) (Numerator) $ 4,806 $ 4,867 $ 4,991 $ 4,723 $ 3,319
Annualization Factor 4.06 3.97 3.97 4.01 4.06
Average Assets (Denominator) $ 1,556,538 $ 1,546,251 $ 1,501,827 $ 1,489,041 $ 1,467,695
Adjusted PPNR Return on Average Assets (Non-GAAP) 1.25 % 1.25 % 1.32 % 1.27 % 0.92 %
11
Three Months Ended
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
(Dollars in thousands, except share and per share data) (Unaudited)
Net Income (Loss) (GAAP)
$ 3,867 $ 4,742 $ (5,696) $ 3,949 $ 1,909
Adjustments
Net (Gain) Loss on Securities (8) (14) 11,752 — 69
Net Gain on Disposal of Premises and Equipment — (40) — — —
Earn-out Payment Related to the Sale of EU (8) (711) — — (49)
Reduction in Force Expenses — — — — 1,003
Tax effect 3 (178) (2,129) — (215)
Adjusted Net Income (Non-GAAP) $ 3,854 $ 3,799 $ 3,927 $ 3,949 $ 2,717
Weighted-Average Diluted Common Shares and Common Stock Equivalents Outstanding 5,318,874 5,304,685 5,319,594 5,332,026 5,471,006
Earnings (Loss) per Common Share - Diluted (GAAP) $ 0.73 $ 0.89 $ (1.07) $ 0.74 $ 0.35
Adjusted Earnings per Common Share - Diluted (Non-GAAP) $ 0.72 $ 0.72 $ 0.74 $ 0.74 $ 0.50
Net Income (Loss) (GAAP) (Numerator) $ 3,867 $ 4,742 $ (5,696) $ 3,949 $ 1,909
Annualization Factor 4.06 3.97 3.97 4.01 4.06
Average Assets (Denominator) 1,556,538 1,546,251 1,501,827 1,489,041 1,467,695
Return on Average Assets (GAAP) 1.01 % 1.22 % (1.50) % 1.06 % 0.53 %
Adjusted Net Income (Non-GAAP) (Numerator) $ 3,854 $ 3,799 $ 3,927 $ 3,949 $ 2,717
Annualization Factor 4.06 3.97 3.97 4.01 4.06
Average Assets (Denominator) 1,556,538 1,546,251 1,501,827 1,489,041 1,467,695
Adjusted Return on Average Assets (Non-GAAP) 1.00 % 0.97 % 1.04 % 1.06 % 0.75 %
Three Months Ended
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
(Dollars in thousands) (Unaudited)
Net Income (Loss) (GAAP) (Numerator)
$ 3,867 $ 4,742 $ (5,696) $ 3,949 $ 1,909
Annualization Factor 4.06 3.97 3.97 4.01 4.06
Average Equity (GAAP) (Denominator) 159,415 155,003 149,121 147,139 147,763
Return on Average Equity (GAAP) 9.84 % 12.14 % (15.15) % 10.76 % 5.24 %
Adjusted Net Income (Non-GAAP) (Numerator) $ 3,854 $ 3,799 $ 3,927 $ 3,949 $ 2,717
Annualization Factor 4.06 3.97 3.97 4.01 4.06
Average Equity (GAAP) (Denominator) 159,415 155,003 149,121 147,139 147,763
Adjusted Return on Average Equity (Non-GAAP) 9.80 % 9.72 % 10.45 % 10.76 % 7.46 %
12
Three Months Ended
3/31/26 12/31/25 9/30/25 6/30/25 3/31/25
(Dollars in thousands) (Unaudited)
Noninterest Expense (GAAP) (Numerator) $ 10,012 $ 9,923 $ 9,183 $ 8,748 $ 9,802
Net Interest and Dividend Income (GAAP) $ 13,872 $ 13,826 $ 13,099 $ 12,540 $ 11,311
Noninterest Income (Loss) (GAAP) 962 1,729 (10,677) 931 787
Operating Revenue (GAAP) (Denominator) $ 14,834 $ 15,555 $ 2,422 $ 13,471 $ 12,098
Efficiency Ratio (GAAP) 67.49 % 63.79 % 379.15 % 64.94 % 81.02 %
Noninterest Expense (GAAP) $ 10,012 $ 9,923 $ 9,183 $ 8,748 $ 9,802
Adjustments:
Reduction in Force Expenses — — — — (1,003)
Adjusted Noninterest Expense (Non-GAAP) (Numerator) $ 10,012 $ 9,923 $ 9,183 $ 8,748 $ 8,799
Net Interest and Dividend Income (GAAP) $ 13,872 $ 13,826 $ 13,099 $ 12,540 $ 11,311
Noninterest Income (Loss) (GAAP) 962 1,729 (10,677) 931 787
Adjustments:
Net (Gain) Loss on Securities (8) (14) 11,752 — 69
Net Gain on Disposal of Premises and Equipment — (40) — — —
Earn-out Payment Related to the Sale of EU (8) (711) — — (49)
Adjusted Noninterest Income (Non-GAAP) $ 946 $ 964 $ 1,075 $ 931 $ 807
Adjusted Operating Revenue (Non-GAAP) (Denominator) $ 14,818 $ 14,790 $ 14,174 $ 13,471 $ 12,118
Adjusted Efficiency Ratio (Non-GAAP) 67.56 % 67.09 % 64.79 % 64.94 % 72.61 %
13
EX-99.2 — EX-99.2 INVESTOR PRESENTATION
EX-99.2
Filename: a20260331cbfvinvestorpre.htm · Sequence: 3
a20260331cbfvinvestorpre
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 2 Forward-Looking Statements and Non-GAAP Financial Measures Statements contained in this investor presentation that are not historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and such forward-looking statements are subject to significant risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Act. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations and future prospects of the Company and its subsidiaries include, but are not limited to, general and local economic conditions, changes in market interest rates, deposit flows, demand for loans, real estate values and competition, competitive products and pricing, the ability of our clients to make scheduled loan payments, loan delinquency rates and trends, our ability to manage the risks involved in our business, our ability to control costs and expenses, inflation, market and monetary fluctuations, changes in federal and state legislation and regulation applicable to our business, actions by our competitors, and other factors that may be disclosed in the Company’s periodic reports as filed with the Securities and Exchange Commission. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company assumes no obligation to update any forward-looking statements except as may be required by applicable law or regulation. Explanation of Use of Non-GAAP Financial Measures In addition to financial measures presented in accordance with generally accepted accounting principles (“GAAP”), we use, and this investor presentation may contain or reference, certain non-GAAP financial measures. We believe these non-GAAP financial measures provide useful information in understanding our underlying results of operations or financial position and our business and performance trends as they facilitate comparisons with the performance of other companies in the financial services industry. Non-GAAP adjusted items impacting the Company's financial performance are identified to assist investors in providing a complete understanding of factors and trends affecting the Company’s business and in analyzing the Company’s operating results on the same basis as that applied by management. Although we believe that these non-GAAP financial measures enhance the understanding of our business and performance, they should not be considered an alternative to GAAP or considered to be more important than financial results determined in accordance with GAAP, nor are they necessarily comparable with similar non-GAAP measures which may be presented by other companies. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found within the referenced earnings release.
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 3 CB Financial Services, Inc. - Corporate Overview • Holding Company for Community Bank (Carmichaels, PA), serving the community since 1901 • Community Bank operates 12 full-service branch offices and two loan production offices in southwestern Pennsylvania and northern West Virginia • NASDAQ: CBFV Market Data CBFV Share Price $35.15 Shares Outstanding 5.1M Market Cap $178.4M Avg. 3 Mo. Daily Trading Volume 5,198 shares Insider Ownership 9.19% Institutional Ownership 44.39% Dividend Yield 3.19% Total Stockholders' Equity $158.8M Book Value per Common Share $31.30 Tangible Book Value per Common Share (1) $29.38 Price to Book Value 1.12x Price to Tangible Book Value (1) 1.20x ◦ All daily trading information/multiples as of April 20, 2026 ◦ All other financial information as of March 31, 2026 Washington Waynesburg Moundsville Canonsburg Uniontown Branches/ITM LPO Operations (1) Non GAAP financial measure.
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 4 Community Bank partners with individuals, businesses and communities to realize their dreams, protect their financial futures and improve their lives. Take Care of Each Other Always Do the Right Thing Be a Great Teammate Work Hard to Achieve Our Goals Give and Expect Mutual Respect Enjoy Life Everyday Be Positive Have a Sense of Urgency Client Experience First Our Mission Statement Our Core Values Our Cornerstone About Us
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 5 Creating Value for our Shareholders and Stakeholders • Sustainable Earnings Growth ▪ Improve core earnings by investing in talent and technology, implementing and rewarding a disciplined sales culture, innovating new products, providing best in class delivery, improving efficiency and developing digital delivery. • People, Culture & Innovation ▪ Ensure our organization culture, practices, values and structure enable us to attract, train and retain top talent. Embed innovation at our core to improve capacity, to scale and respond to changing market and industry conditions. • Client Experience ▪ Prioritize the Client Experience. Make it simple and easy. • Automate and Optimize Processes ▪ Optimize process and delivery channels through technology, including AI, to enhance our Client Experience, lower costs, mitigate risk and improve profitability. • Improve Efficiency ▪ Establish a board-approved enterprise risk management framework to drive high quality earnings within established risk tolerances. Strategic Initiatives
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 6 Strategic Focus Treasury Management & Commercial Banking Strategy Strategic Focus Objectives Results CB's footprint contains highly concentrated markets and there is opportunity to gain market share in Commercial Banking and Treasury Services. Build and develop a Treasury Management (TM) and Specialized Deposit Division that provides a first class client experience. Under the leadership of Jim Mele, a seasoned veteran with an established record of success, the Bank has built a TM and Specialized Deposit Division which includes specialized and experienced sales, operations and risk associates dedicated to these clients. Targeted investments related to technology and systems to develop new products and processes, with a focus on ensuring a positive client experience. Leverage existing core system strengths and enhance with new TM products and processes with an exceptional client experience as the primary goal. Technology has been upgraded and risk controls have been enhanced. Technology upgrades include online banking, ACH platforms and escrow management programs, with enhanced capabilities for treasury and commercial clients. Treasury Services are the least commoditized deposits and servicing these accounts will generate growth in lower cost deposits and noninterest income. Enhance liquidity position with sticky, granular cost-effective deposits while also adding net fee income. With the talent and technology implemented, the onboarding of treasury clients has begun and material deposit growth was achieved in 1Q26 ($27. 6 million). Strong ongoing growth is expected. Combined with the expansion of the Bank's Commercial Banking team, this two pronged strategy enhances the ability to improve net interest margin and net income. Be opportunistic in retaining talented Commercial Bankers to gain market share. The Bank is continuing to evaluate and hire additional Commercial Banking talent. Expenses related to these strategies are expected to be offset with additional cost savings and incremental revenue.
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 7 2026 Macro Outlook Item Comment Monetary Policy The Federal Reserve's rate cuts are uncertain to continue during 2026 due to renewed inflation pressure tied to energy prices and geopolitical risks. Further rate cuts could impact pricing on deposits, borrowings and loans. Interest rate and liquidity management are primary components to managing impact. Inflation/Demand Inflation is pushing higher and expectations have become volatile. If inflationary pressures escalate, a potential economic slowdown may temper loan demand. Cost- control and pricing strategies are critical to remain competitive. Regulatory Environment Evolving regulations may impact operations and compliance costs. Risk management (cybersecurity and data privacy in particular) is on the forefront with continued shift to digital channels. Market Dynamics Competitive pressures, market conditions, stablecoin and deposit tokenization and AI- powered technology will require agile and innovative strategies to remain relevant while prioritizing client experience to build loyalty and differentiation. CB will need to remain vigilant and adaptable to navigate the uncertainties and complexities of the macroeconomic landscape in 2026 and beyond.
Q1 2026 Financial Highlights
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 9 Q1 2026 Highlights (Unaudited) Earnings (for the three months ended March 31, 2026 unless otherwise noted) • Core earnings. Core net income (non-GAAP) was $3.9 million, with diluted core earnings per share of $0.72. Core pre-provision net revenue (PPNR) (non-GAAP) was $4.8 million. • Margin. Net interest income was $13.9 million, an increase of 0.3% from Q4 2025. Net interest margin was 3.83%, up 7 bps from Q4 2025 as cost of funds decreased 8 bps partially offset as the yield on interest-earning assets decreased 1 bp. • Positive core returns. Adjusted return on average equity (non-GAAP) was 9.80% for Q1 2026, compared to 7.46% for Q1 2025. Balance Sheet & Asset Quality (as of March 31, 2026 unless otherwise noted) • Steady loan portfolio. Total loans ($1.15 billion) decreased 0.4% from December 31, 2025 due primarily to a decrease in indirect auto loans following the discontinuation of that product in Q2 2023. Excluding the reduction in the Bank's indirect auto loans, the portfolio grew 0.1% during the quarter. • Strong deposit growth. Deposits ($1.38 billion) increased 2.7% from December 31, 2025. Deposit growth for the quarter included $39.7 million of core (non-time) deposits primarily from growth in the Bank's new Specialty Treasury division, partially offset by a $4.1 million decrease in time deposits. • High concentration of core deposits. Core deposits were 78% of total deposits at March 31, 2026. • Limited wholesale funding. Borrowings to total assets was 2.2% and brokered time deposits to total assets was 6.2% at March 31, 2026. • Strong credit quality. Nonperforming loans to total loans was 0.29% and nonperforming assets to total assets was 0.21% as of March 31, 2026. Annualized net charge-offs to average loans for the current quarter was 0.01%. Liquidity and Capital Strength (as of March 31, 2026 unless otherwise noted) • Significant available liquidity. Cash on deposit was $55.5 million and available borrowing capacity was $640.6 million. Available liquidity covers 262% of uninsured/non-collateralized deposits. • Low-risk deposit base. Insured/collateralized deposits account for 75.5% of total deposits. • Well-capitalized. The Bank's Tier 1 Leverage ratio was 10.34% at March 31, 2026, compared to 10.15% at December 31, 2025. • Increasing shareholder value. TBV per common share (non-GAAP) was $29.38 at March 31, 2026, compared to $29.35 at December 31, 2025. • Stock Repurchase Plan (SRP). Announced $5.0 million SRP in Q3 2025. Attractive way to return capital to shareholders.
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 10 Financial Highlights Change ($000s except per share) Q1 2026 Q4 2025 Q1 2025 Balance Sheet Total Net Loans (Net of Allowance) $ 1,147,534 $ (4,610) $ 68,859 Total Deposits 1,375,437 35,632 94,340 Income Statement Net Interest Income 13,872 46 2,561 Net Provision (Recovery) for Credit Losses 241 (121) 281 Adjusted Noninterest Income(2) 946 (18) 139 Gain on Sale of Securities 8 (6) (77) Noninterest Expense 10,012 89 210 Income Tax Expense 714 186 287 Adjusted Net Income 3,854 55 1,137 Performance Ratios Adjusted Earnings Per Share, Diluted(2) $ 0.72 $ — $ 0.22 Net Interest Margin(1) 3.83 % 0.07 % 0.56 % Adjusted ROAA(1)(2) 1.00 % 0.03 % 0.25 % Adjusted ROAE(1)(2) 9.80 % 0.08 % 2.34 % NCOs/Average Loans(1) 0.01 % (0.09) % (0.01) % Tangible Book Value per Share(2) $ 29.38 $ 0.03 $ 2.21 Tangible Equity Ratio (TCE / TA)(2) 9.47 % (0.14) % 0.07 % Capital Ratios (Bank Only) Tier 1 Leverage 10.34 % 0.19 % (0.02) % Common Equity Tier 1 Capital 14.70 % 0.78 % (0.24) % Tier 1 Capital 14.70 % 0.78 % (0.24) % Total Risk-Based Capital 15.71 % 0.83 % (0.24) % Q1 2026 Results Overview (Unaudited) (1) Annualized (2) Non-GAAP Calculation in Press Release (3) Comparisons are to Q4 2025 unless otherwise noted Quarterly Highlights(3) Balance Sheet: • Loans decreased $4.6 million as a result of a decrease in consumer loans due to the discontinued indirect auto product offering. • Deposits increased $35.6 million due to an increase of $39.7 million in in core (non-time) deposits, partially offset by a $4.1 million decrease in time deposits. Growth was driven by increases in Specialty Treasury deposits. • Tangible book value per share (non-GAAP) was $29.38. Earnings and Capital: • Core net income was $3.9 million, while core PPNR was $4.8 million for Q1. • Net interest margin(1) was up 7 bp to 3.83% due to a reduction in cost of funds. • Noninterest expense increased 0.9% due to higher salaries and benefits and data processing costs primarily related to treasury personnel and products. • The Bank's Tier 1 Leverage ratio was 10.34%.
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 11 Financial Trends - Balance Sheet (Unaudited) Total Net LoansTotal Assets Total Deposits Total Stockholders' Equity in m ill io ns $1,483 $1,518 $1,546 $1,548 $1,583 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 $1,400 $1,450 $1,500 $1,550 $1,600 in m ill io ns $1,079 $1,101 $1,133 $1,152 $1,148 Net Loans Yield on Loans 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 $1,000 $1,025 $1,050 $1,075 $1,100 $1,125 $1,150 $1,175 5.30% 5.40% 5.50% 5.60% 5.70% 5.80% 5.90% 6.00% in m ill io ns $1,281 $1,309 $1,334 $1,340 $1,375 Total Deposits Cost of Interest Bearing Deposits 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 $1,150 $1,200 $1,250 $1,300 $1,350 $1,400 1.75% 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% in m ill io ns $148 $148 $152 $158 $159 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 $130 $140 $150 $160
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 12 Financial Trends - Reported Earnings and Profitability (Unaudited) Net Income (Loss) / PPNR (non-GAAP) Earnings (Loss) Per Share (EPS) - Diluted in th ou sa nd s $1,909 $3,949 $(5,696) $4,742 $3,867 $2,296 $4,723 $(6,761) $5,632 $4,822 Net Income PPNR Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 $(8,000) $(6,000) $(4,000) $(2,000) $— $2,000 $4,000 $6,000 $0.35 $0.74 $(1.07) $0.89 $0.73 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 $(1.50) $(1.00) $(0.50) $— $0.50 $1.00 Annualized Return on Average Equity (ROAE) 5.24% 10.76% (15.15)% 12.14% 9.84% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 (16.00)% (8.00)% —% 8.00% 16.00% Annualized Return on Average Assets (ROAA) 0.53% 1.06% (1.50)% 1.22% 1.01% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 (2.00)% (1.50)% (1.00)% (0.50)% —% 0.50% 1.00% 1.50%
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 13 Financial Trends - Core Earnings and Profitability (1) (Unaudited) Core Net Income / Core PPNR (non-GAAP) Core EPS - Diluted (non-GAAP) in th ou sa nd s $2,717 $3,949 $3,927 $3,799 $3,854 $3,319 $4,723 $4,991 $4,867 $4,806 Core Net Income Core PPNR Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 $1,000 $2,000 $3,000 $4,000 $5,000 $0.50 $0.74 $0.74 $0.72 $0.72 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 $— $0.20 $0.40 $0.60 $0.80 Core Annualized ROAE (non-GAAP) 7.46% 10.76% 10.45% 9.72% 9.80% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 —% 3.00% 6.00% 9.00% 12.00% Core Annualized ROAA (non-GAAP) 0.75% 1.06% 1.04% 0.97% 1.00% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 —% 0.25% 0.50% 0.75% 1.00% 1.25% (1) Non-GAAP Calculation in Press Release
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 14 Financial Trends - Earnings and Profitability (Unaudited) Total Revenue (non-GAAP) Highlights - Revenue Core Efficiency Ratio (non-GAAP)(1) in th ou sa nd s $11,311 $12,540 $13,099 $13,826 $13,872 $807 $931 $1,075 $964 $946 Net Interest Income Noninterest Income (adj.) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 $7,500 $9,000 $10,500 $12,000 $13,500 $15,000 72.6% 64.9% 64.8% 67.1% 67.6% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 50.0% 55.0% 60.0% 65.0% 70.0% 75.0%Net Interest Margin (NIM) (non-GAAP) (1) 5.17% 5.31% 5.41% 5.48% 5.47% 3.28% 3.55% 3.67% 3.80% 3.88% 2.03% 1.89% 1.86% 1.78% 1.70% Yield on Earning Assets Net Interest Margin (FTE) Cost of Funds Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 —% 2.00% 4.00% 6.00% Noninterest Income (adj.) (non-GAAP): • All periods exclude gains/losses on securities. • Q1 2025 - excludes a $49,000 earn-out payment from sale of EU. • Q4 2025 - excludes a $711,000 earn-out payment from the sale of EU and a $40,000 gain on the sale of bank assets. • Q1 2026 - excludes an $8,000 earn-out payment from the sale of EU. (1) Non-GAAP Calculation in Press Release $11,311 $12,540 $13,099 $13,826 $13,872$787 $931 $(10,677) $1,729 $962 Net Interest Income Noninterest Income Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 $(20,000) $(10,000) $— $10,000 $20,000
Deposit Composition / Characteristics
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 16 Deposit Mix and Cost (Unaudited) 21.9% 28.0% 15.2% 12.5% 22.4% Non-Interest Bearing Demand Interest Bearing Demand Money Market Accounts Savings Accounts Time Deposits Deposit Mix Average Cost of Interest-Bearing Deposits 2.46% 2.28% 2.26% 2.18% 2.03% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 —% 1.00% 2.00% 3.00% Deposit Composition (in millions) 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 NIB Demand $ 267.4 $ 278.7 $ 291.9 $ 291.7 $ 301.1 IB Demand 341.2 353.4 366.0 357.1 384.6 Money Market 228.0 225.1 206.2 209.2 209.3 Savings Accounts 176.7 172.0 169.0 169.3 172.2 Organic Time Deposits 228.8 201.1 202.9 214.0 209.9 Brokered Time Deposits 39.0 79.0 98.5 98.5 98.5 Total Deposits $ 1,281.1 $ 1,309.4 $ 1,334.4 $ 1,339.8 $ 1,375.4 Highlights • Deposits increased $35.6 million, or 2.7%, from December 31, 2025 due to Specialty Treasury deposit growth. • Brokered time deposits were utilized to fund the purchase of floating rate CLO securities and mature within three months. • Mix shifting from organic time and money market to lower-cost demand deposits. • Offering short-term CDs at a cost favorable to alternative funding. • Average cost of interest-bearing deposits was 2.03% for Q1 2026, compared to 2.18% for Q4 2025 and 2.46% for Q1 2025. 1.95% 2.01% 2.08% 2.00% 1.82% 3.04% 2.94% 2.63% 2.30% 2.14% 0.10% 0.10% 0.10% 0.11% 0.10% 3.95% 3.27% 3.12% 3.15% 3.05% 4.40% 4.37% 4.36% 4.12% 3.92% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 —% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% Noninterest- Bearing Interest- Bearing Money Market Accounts Savings Accounts Time Deposits $— $100,000 $200,000 $300,000 $400,000 $500,000 20.9% 21.3% 21.9% 21.8% 21.9% 26.6% 27.0% 27.4% 26.7% 28.0% 17.8% 17.2% 15.5% 15.6% 15.2% 13.8% 13.1% 12.7% 12.6% 12.5% 17.9% 15.4% 15.2% 16.0% 15.2% 3.0% 6.0% 7.4% 7.4% 7.2% Noninterest-Bearing Interest-Bearing Money Market Accounts Savings Accounts Organic Time Deposits Brokered Time Deposits 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 17 —% cost / $173.6 million 0.27% cost / $130.6 million 1.21% cost / $90.4 million 0.08% cost / $165.7 million 2.99% cost / $186.2 million 3.08% cost / $21.4 million Deposit Composition (unaudited) Retail Deposits as of March 31, 2026 $767.8 million 1.02% WAC 35,469 accounts —% cost / $120.7 million 2.15% cost / $119.4 million2.14% cost / $63.7 million 0.51% cost / $5.7 million 2.71% cost / $1.9 million 3.20% cost / $155.1 million Commercial Deposits as of March 31, 2026 $466.5 million 1.92% WAC 4,460 accounts —% cost / $10.1 million 3.12% cost / $20.0 million 3.56% cost / $12.5 million Specialty Deposits as of March 31, 2026 $42.6 million 2.51% WAC 54 accounts —% cost / $168.7 million 0.28% cost / $129.9 million 1.27% cost / $88.9 million 0.08% cost / $163.3 million 3.13% cost / $188.1 million 3.04% cost / $20.6 million Retail Deposits as of December 31, 2025 $759.5 million 1.07% WAC 35,798 accounts —% cost / $116.8 million 2.28% cost / $118.2 million2.29% cost / $57.8 million 0.61% cost / $5.5 million 2.73% cost / $1.9 million 3.33% cost / $166.6 million Commercial Deposits as of December 31, 2025 $466.8 million 2.07% WAC 4,448 accounts 3.75% cost / $1.5 million 3.69% cost / $13.6 million —% 3.75% —% —% 3.69% —% Specialty Deposits as of December 31, 2025 $15.0 million 3.70% WAC 43 accounts Reconciliation to Balance Sheet 3/31/26 12/31/25 YTD Change dollars in thousands Retail $ 767,815 $ 759,455 $ 8,360 Commercial 466,483 466,832 (349) Specialty Treasury 42,639 15,018 27,621 Organic Deposits 1,276,937 1,241,305 35,632 Brokered Time Deposits 98,500 98,500 — Total Deposits $ 1,375,437 $ 1,339,805 $ 35,632
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 18 Secure Deposit Base (Unaudited) • In total, 75.5% of client deposits (non- brokered) are FDIC insured or collateralized with investment securities as of March 31, 2026, compared to 75.2% as of December 31, 2025. • Uninsured client deposits consist of business & retail deposits of 15.1% and 9.4% of total deposits, respectively. • At March 31, 2026, client deposits consisted of 55.6% retail, 28.5% business, and 15.8% public funds. • CB is focused on providing opportunities for uninsured depositors to move funds to alternate products, providing benefit to both clients and the Bank. FDIC Insured, 58.8% Collateralized, 16.7% Uninsured, 24.5% Source: Company information as of 3/31/2026 As of 3/31/2026
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 19 Strong Liquidity Position (Unaudited) $1,967 1.0% $35,753 18.9% $47,734 25.2%$80,480 42.5% $22,491 11.9% $917 0.5% Government Agency Municipal MBS's CMO's Corporate Debt Marketable Equity Cash $55.5 million Investments $126.5 million Fed Capacity $76.6 million FHLB Capacity $514.0 million Other Capacity $50.0 million Available Liquidity of $822.6 million Highlights Source: Company information as of 3/31/2026 • Cash & Cash Equivalents totaled $55.5 million, or 3.5% of total assets. • Investment Securities totaled $295.5 million, with $168.9 million utilized as collateral for public fund deposits. All securities are classified as available-for-sale and marked to market. • Total borrowings totaled $34.8 million, or 2.2% of total assets and included $20.0 million in FHLB borrowings and $14.8 million in subordinated debt. • The Bank has $640.6 million in available borrowing capacity (FED, FHLB, Other). • Available liquidity covers 262% of uninsured/ non-collateralized deposits.
Loan Portfolio Composition
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 21 Loan Portfolio Composition (Unaudited) Commercial & Industrial 13.6% Real Estate- Construction 4.4% Real Estate- Commercial 47.5% Real Estate- Residential 28.6% Consumer 3.2% Other 2.7% As of 3/31/2026 Loan Portfolio Detail dollars in millions 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 QoQ Change YoY Change Real Estate - Residential $ 334.7 $ 329.3 $ 333.4 $ 329.2 $ 330.8 0.5 % (1.2) % Real Estate - Commercial 497.3 513.2 539.4 552.2 550.0 (0.4) 10.6 Real Estate - Construction 54.6 40.7 38.9 45.4 51.4 13.2 (5.9) Commercial & Industrial 107.4 138.2 143.9 161.1 157.7 (2.1) 46.8 Consumer 61.9 57.4 49.6 42.9 36.7 (14.5) (40.7) Other 32.6 32.0 38.2 31.5 31.2 (1.0) (4.3) Total Loans $ 1,088.5 $ 1,110.8 $ 1,143.4 $ 1,162.3 $ 1,157.8 (0.4) % 6.4 % Highlights • Loans decreased $4.4 million, or 0.4%, from December 31, 2025 due primarily from a decrease in indirect auto loans. Excluding the indirect loans, loans increased $1.4 million, or 0.1%, from December 31, 2025. • Loan production for Q1 2026 totaled $30.5 million while loans paid off totaled $29.4 million. • CB continues to focus on disciplined pricing and credit quality standards. • CB remains committed to hiring and retaining experienced commercial bankers.
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 22 Commercial Loan Portfolio Detail (Unaudited) 24.7% 18.9% 17.5% 12.6% 4.8% 4.4% 2.8% 1.8% 1.6% 10.9% Retail Space Multifamily Warehouse Space Office Space Medical Facilities Manufacturing Hotels Oil & Gas Senior Housing Other C&I and CRE Loans by Industry Highlights Commercial Real Estate Loan Portfolio Details Total O/S Balance CRE Owner Occupied CRE Non-Owner Occupied dollars in thousands O/S Balance Percent Avg Loan Size Avg LTV O/S Balance Percent Avg Loan Size Avg LTV Retail Space $ 135,654 $ 26,341 4.78 % $ 675 50.05 % $ 109,314 19.85 % $ 1,497 61.69 % Multifamily 104,265 — — — — 104,265 18.93 1,043 60.81 Warehouse Space 96,252 18,388 3.34 766 44.86 77,864 14.14 2,104 55.40 Office Space 69,075 9,394 1.71 447 71.99 59,681 10.84 1,270 57.62 Medical Facilities 26,229 8,385 1.52 699 73.90 17,844 3.24 1,190 55.10 Manufacturing 24,159 3,022 0.55 336 56.60 21,137 3.84 2,114 42.45 Hotels 15,324 — — — — 15,324 2.78 1,916 60.70 Oil & Gas 9,845 5,160 0.94 645 67.78 4,685 0.85 1,562 57.51 Senior Housing 9,018 5,815 1.06 1,938 26.80 3,203 0.58 3,203 41.03 Other 60,208 35,095 6.35 462 51.93 25,112 4.70 897 59.77 Total $ 550,029 $ 111,600 20.25 % $ 581 53.21 % $ 438,429 79.75 % $ 1,362 58.27 % • CRE loans represent 47.5% of the total loan portfolio. • Limited exposure to office space. • 20.3% of CRE loans are owner occupied. • Non-Owner Occupied CRE loans have an average LTV of 58.3% based on appraised values at the time of origination, whereas Owner Occupied CRE's LTV is 53.2%. • Average Non-Owner Occupied CRE loan size is approximately $1.4 million, and Owner Occupied is approximately $581,000. • No loans are currently in deferral. • CRE loans are concentrated in the Pittsburgh metropolitan area.Source: Company information as of 3/31/2026
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 23 Consumer Loan Portfolio Detail (Unaudited) 90.0% 7.1% 2.9% 1-4 Family Indirect Auto Other Consumer 30.5% 15.7% 20.1% 20.7% 10.5% 2.5% < 50% 50% - 59% 60% - 69% 70% - 79% 80% - 89% > 90% 42.9% 36.7% 14.0% 5.8% 0.6% > 800 740-799 700-739 661-699 < 660 Consumer Lending Portfolio - $367.5M Residential Real Estate Loan to Values (LTV's) - $330.8MIndirect Auto Portfolio by Max FICO Score- $26.2M Highlights • Residential loans represent 28.5% of total loans. • 66.3% of residential loans have an LTV of less than 70%, based on appraised values at the time of origination. • Indirect auto loans represent 2.2% of total loans. • 79.6% of indirect auto loans are to borrowers with FICO scores greater than 740, at the time of underwriting. • The indirect auto lending program was discontinued in Q2 2023 to prioritize more profitable commercial lending products. Source: Company information as of 3/31/2026 Source: Company information as of 3/31/2026 Source: Company information as of 3/31/2026
Asset Quality, Capital Ratios and IRR
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 25 Asset Quality Trends (Unaudited) Net Charge-Offs (Recoveries) / Average Loans Allowance for Credit Losses / Total LoansNonperforming Assets / Total Assets in th ou sa nd s $2,369 $1,925 $2,340 $5,310 $3,329 Nonperforming Assets NPA's / Assets 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 $— $2,000 $4,000 $6,000 —% 0.16% 0.32% 0.48% Allowance for Credit Losses / Nonperforming Assets Nonperforming Loans to Total Loans $2,369 $1,767 $2,182 $5,310 $3,329 Nonperforming Loans (000's) Nonperforming/Total Loans 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 $— $2,000 $4,000 $6,000 0.15% 0.20% 0.25% in th ou sa nd s $54 $(39) $(88) $295 $41 Net Charge Offs (Recoveries) NCO's (Recoveries)/ Avg Loans Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 $(150) $(100) $(50) $— $50 $100 $150 $200 $250 $300 $350 (0.08)% (0.05)% (0.03)% —% 0.03% 0.05% 0.08% 0.10% 0.13% 0.15% 0.18% in th ou sa nd s $9,819 $9,722 $10,146 $10,116 $10,303 Loan Loss Reserve ($000's) ALLL/ Total Loans 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 $— $4,000 $8,000 $12,000 0.86% 0.88% 0.90% 0.92% in th ou sa nd s $2,369 $1,925 $2,340 $5,310 $3,329 Nonperforming Assets ALLL / Nonperforming Assets 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 $— $2,000 $4,000 $6,000 —% 200.00% 400.00% 600.00%
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 26 Capital Ratios (Bank Only) (Unaudited) Common Equity Tier 1 Capital (to Risk Weighted Assets) Tier 1 Capital to Risk Weighted Assets 14.94% 15.28% 14.19% 13.92% 14.70% Common Equity Tier 1 Capital Adequately Capitalized Well Capitalized 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 14.94% 15.28% 14.19% 13.92% 14.70% Tier 1 Capital Adequately Capitalized Well Capitalized 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% Tier 1 Leverage (to Adjusted Total Assets) 10.36% 10.49% 10.06% 10.15% 10.34% Tier 1 Leverage Adequately Capitalized Well Capitalized 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 4.00% 6.00% 8.00% 10.00% 12.00% Total Capital (to Risk Weighted Assets) 15.95% 16.29% 15.20% 14.89% 15.71% Total Capital Adequately Capitalized Well Capitalized 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 8.00% 10.00% 12.00% 14.00% 16.00% 18.00%
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 27 Change in Rates (bp) (in th ou sa nd s) $(3,006) $(2,249) $(1,018) $— $800 $1,511 $2,204 -300 -200 -100 0 +100 +200 +300 $(4,000) $(2,000) $— $2,000 $4,000 Change in Rates (bp) (in th ou sa nd s) $15,415 $13,207 $8,226 $— $(10,702) $(22,606) $(35,004) -300 -200 -100 0 +100 +200 +300 $(40,000) $(20,000) $— $20,000 Change in Net Interest Income (as of 03/31/2026) Change in Economic Value of Equity (as of 03/31/2026) Interest Rate Risk (Unaudited) Interest Rate Risk Details (as of 03/31/2026) EVE EVE as a Percent of Portfolio Value of Assets Net Interest Earnings at Risk Change in Interest Rates in Basis Points Dollar Amount Dollar Change Percent Change NPV Ratio Basis Point Change Dollar Amount Dollar Change Percent Change (Dollars in thousands) +300 $ 223,486 $ (35,004) (13.5) % 15.55 % (122) $ 62,266 $ 2,204 3.7 % +200 235,884 (22,606) (8.7) 16.04 (73) 61,573 1,511 2.5 +100 247,788 (10,702) (4.1) 16.45 (32) 60,862 800 1.3 Flat 258,490 — — 16.77 — 60,062 — — -100 266,716 8,226 3.2 16.92 15 59,044 (1,018) (1.7) -200 271,697 13,207 5.1 16.87 10 57,813 (2,249) (3.7) -300 273,905 15,415 6.0 16.66 (11) 57,056 (3,006) (5.0)
Conclusions
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 29 Market Presence with Brand Recognition Seasoned Executive Leadership Deploying Technology to Enhance Client Experience Investment Summary Serving Stable Southwestern PA & Ohio River Valley markets Proven experience through all economic cycles Continuing to invest with a tech- forward and people-centric approach Investing for Growth Adding new talent, tech upgrades and investing in process improvement Rewarding Shareholders Increased quarterly dividend 8% to $0.28 per share in Q1 2026
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 30 Delivering Value to Shareholders Our goal is to continue operating as a high-performing, independent community bank, generating positive returns and adding significant value for our shareholders. ◦ Committed to Improving Financial Performance ▪ Revenue Growth ▪ Consistent returns ◦ Dividend and Capital Reinvestment ▪ Regular and reliable dividend payouts ▪ Attractive dividend yield ▪ Capital reinvestment to produce higher returns ◦ Investing in Products and Strategies for Future Growth ▪ Specialty Treasury Payments & Services ▪ Commercial Banking ▪ Mortgage Banking ◦ Creating Franchise Value ◦ Supporting Local Communities (building value beyond financial returns)
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 31 ◦ Community bank model is highly-differentiated compared with large regional banks ◦ Intense focus on sales and service culture and quality product offerings which builds full relationships with our clients ◦ Utilize technology investments to enhance speed of process while improving client experience ◦ Enhance profitability and efficiency potential while continuing to invest for future growth ◦ Continue our track record of opportunistic growth in the robust Pittsburgh Metropolitan area and across our footprint ◦ Defend and grow our relatively low-cost deposit base which enables the bank to protect net interest margin ◦ Leverage our credit culture and strong loan underwriting as a foundation to uphold our asset quality metrics Be the Community Bank of choice across our footprint Concluding Thoughts
CB Financial Services, Inc. (Nasdaq: CBFV) April 2026 Page 32 Company Contact John H. Montgomery President and Chief Executive Officer Phone: (724) 223-8317 Investor Relations The IR Group Diane Fitzgibbons, President Phone: (206) 388-5789 Email: dianef@theIRgroup.com Bank Main Office: 100 N. Market Street Carmichaels, PA 15320 Corporate Center: 2111 North Franklin Drive, Suite 200 Washington, PA 15301 Contact Information
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