- CB Financial Services, Inc. (CBFV, Financial) reported a decrease in net income to $1.9 million for Q1 2025 compared to $4.2 million for the same period in 2024.
- The company declared a quarterly cash dividend of $0.25 per share, payable on May 30, 2025.
- Total assets increased slightly to $1.48 billion as of March 31, 2025, indicating a stable financial position.
CB Financial Services, Inc. (CBFV), the holding company for Community Bank, released its first quarter financial results for 2025, reporting a net income of $1.9 million. This represents a decline compared to the $4.2 million reported in the first quarter of 2024. The decrease is attributed primarily to a $1 million one-time expense related to a reduction in force.
Despite the decrease in earnings, the company is embarking on strategic repositioning of its balance sheet to maximize earnings and maintain a steady risk profile. Total assets were up slightly to $1.48 billion as of March 31, 2025, with commercial loans comprising 56% of the loan portfolio, an increase from 52% a year earlier.
The net interest margin improved to 3.27% from 3.12% in the previous quarter, supported by a reduction in funding costs due to changes in deposit mix and lower federal funds rates. Additionally, the company's deposit mix saw a strategic shift, with reductions in time deposits and increases in core deposit relationships.
CB Financial Services, Inc. declared a quarterly cash dividend of $0.25 per share, to be paid on May 30, 2025, to shareholders of record as of May 16, 2025. The company's stock repurchase program remained active, contributing to a decrease in common shares outstanding to 5,099,069 as of March 31, 2025.
Looking forward, the company continues to focus on conservative balance sheet management, risk mitigation, and enhancing core banking relationships. CBFV anticipates further strategic initiatives, such as the implementation of the Specialty Treasury Payments & Services program expected later in 2025, aiming to drive revenue growth and strengthen its deposit base.
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