CB Financial Services, Inc. reported a total asset increase of $66.1 million, or 4.5%, reaching $1.55 billion as of December 31, 2025, compared to $1.48 billion in the previous year. The company's net income for the fiscal year was $4.9 million, a decline from $12.6 million in 2024, resulting in earnings per share of $0.97, down from $2.45. The decrease in profitability was attributed to a significant loss of $11.8 million on investment securities, stemming from a balance sheet repositioning strategy that involved selling lower-yielding securities and purchasing higher-yielding alternatives.
In terms of loan performance, total loans increased by $69.6 million, or 6.4%, to $1.16 billion, driven primarily by growth in commercial real estate and commercial and industrial loans. However, the company also experienced an increase in nonperforming loans, which rose to $5.3 million from $1.8 million in the previous year. The allowance for credit losses increased to $10.1 million, representing 0.87% of total loans, reflecting the company's proactive approach to managing credit risk amid economic uncertainties.
Strategically, CB Financial Services completed the sale of its subsidiary, Exchange Underwriters, Inc., to World Insurance Associates for $30.5 million in cash, which resulted in a pre-tax gain of $24.6 million. This transaction was finalized on December 8, 2023, and the remaining assets of Exchange Underwriters were merged into Community Bank, enhancing the bank's operational efficiency. The company also focused on enhancing its digital banking capabilities and improving customer service through technology investments.
Operationally, the bank's employee count increased to 172 full-time employees, with a voluntary turnover rate of 12%. The company continues to emphasize a strong community presence, operating 12 branch offices across southwestern Pennsylvania and West Virginia. As of December 31, 2025, the bank's market share in its primary service areas was approximately 0.65%, with a focus on expanding its footprint in the Pittsburgh metropolitan area.
Looking ahead, CB Financial Services aims to enhance profitability and efficiency while continuing to invest in growth opportunities. The company plans to leverage its strong credit culture and conservative lending practices to maintain asset quality, even as it seeks to increase its commercial lending activities. The management remains optimistic about future performance, contingent on favorable economic conditions and effective execution of its strategic initiatives.
About CB Financial Services, Inc.
CB Financial Services, Inc. is a Pennsylvania-based bank holding company operating primarily through its subsidiary, Community Bank, a commercial bank serving southwestern Pennsylvania and parts of West Virginia. The bank offers residential and commercial real estate loans, commercial and industrial loans, consumer loans, and deposit products to individuals and businesses. It emphasizes relationship-based service, local market knowledge, conservative lending, and a community-focused banking model.
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