CB Financial Services, Inc. CBFV
CB Financial Services, Inc.
CB Financial Services, Inc. (the "Company"), a Pennsylvania corporation, is a bank holding company headquartered in Carmichaels, Pennsylvania. The Company's common stock is traded on the Nasdaq Global Market under the symbol "CBFV." The Company conducts its operations primarily through its wholly owned subsidiary, Community Bank, a Pennsylvania-chartered commercial bank. At December 31, 2025, the Company, on a consolidated basis, had total assets of $1.55 billion, total liabilities of $1.39 billion and stockholders' equity of $157.5 million.
Community Bank is a Pennsylvania-chartered commercial bank headquartered in Carmichaels, Pennsylvania. The Bank operates nine offices in Greene, Allegheny, Washington, Fayette and Westmoreland Counties in southwestern Pennsylvania and three offices in Marshall and Ohio Counties in West Virginia. The Bank also has a loan production office in Allegheny County, a loan production office and a corporate center in Washington County and an operations center in Greene County, Pennsylvania. The Bank is a community-oriented institution offering residential and commercial real estate loans, commercial and industrial loans, and consumer loans as well as a variety of deposit products for individuals and businesses in its market area.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75.9M | $76.1M | $62.2M | $47.7M | $43.6M | $47.5M | $51.0M | $43.6M | $32.4M | $32.0M |
| Interest expense | $50.8M | $46.1M | $44.6M | $4.8M | $3.4M | $5.6M | $7.9M | $5.9M | $3.4M | $2.9M |
| Pre-tax income | $5.3M | $15.3M | $30.3M | $14.1M | $14.7M | -$9.4M | $16.1M | $8.6M | $9.8M | $10.7M |
| Income tax | $397.0K | $2.7M | $7.7M | $2.8M | $3.1M | $1.2M | $1.7M | $1.5M | $2.9M | $3.1M |
| Net income | $4.9M | $12.6M | $22.6M | $11.2M | $11.6M | -$10.6M | $14.3M | $7.1M | $6.9M | $7.6M |
| EPS, basic | 0.97 | 2.45 | 4.41 | 2.19 | 2.15 | -1.97 | 2.64 | 1.42 | 1.70 | 1.86 |
| EPS, diluted | 0.92 | 2.38 | 4.40 | 2.18 | 2.15 | -1.97 | 2.63 | 1.40 | 1.69 | 1.86 |
| Shares, diluted (wtd. avg.) | $5.3M | $5.3M | $5.1M | $5.1M | $5.4M | $5.4M | $5.4M | $5.0M | $4.1M | $4.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $31.7M | $49.6M | $68.2M | $103.7M | $119.7M | $160.9M | $80.2M | $53.4M | $20.6M | $14.3M |
| Property, plant and equipment | $19.6M | $20.7M | $19.7M | $17.8M | $18.4M | $20.3M | $22.3M | $23.4M | $16.7M | $14.1M |
| Goodwill | $9.7M | $9.7M | $9.7M | $9.7M | $9.7M | $9.7M | $28.4M | $28.4M | $5.0M | $5.0M |
| Other intangibles | $0 | $0 | $958.0K | $3.5M | $5.3M | $8.4M | $10.5M | $10.9M | $3.3M | $3.8M |
| Total assets | $1.55B | $1.48B | $1.46B | $1.41B | $1.43B | $1.42B | $1.32B | $1.28B | $934.5M | $846.1M |
| Short-term debt | $0 | $0 | $0 | $8.1M | $39.3M | $41.1M | $30.6M | $31.0M | $39.6M | $27.0M |
| Total liabilities | $1.39B | $1.33B | $1.32B | $1.30B | $1.29B | $1.28B | $1.17B | $1.14B | $841.2M | $756.6M |
| Retained earnings | $90.6M | $90.9M | $83.4M | $63.9M | $57.5M | $51.1M | $67.0M | $57.8M | $55.3M | $51.7M |
| Total equity | $157.5M | $147.4M | $139.8M | $110.2M | $133.1M | $134.5M | $151.1M | $137.6M | $93.3M | $89.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $17.8M | $6.8M | $14.2M | $14.2M | $13.1M | $14.1M | $17.9M | $13.7M | $11.6M | $10.6M |
| Depreciation and amortisation | $1.8M | $2.4M | $2.7M | $2.7M | $2.4M | $3.3M | $3.7M | $3.0M | $2.5M | $3.1M |
| Stock-based compensation | $796.0K | $812.0K | $1.1M | $600.0K | $566.0K | $498.0K | $323.0K | $482.0K | $361.0K | $353.0K |
| Capital expenditure | $650.0K | $3.3M | $3.3M | $509.0K | $2.4M | $322.0K | $48.0K | $4.4M | $3.8M | $2.5M |
| Investing cash flow | -$82.6M | -$36.4M | -$54.7M | -$28.3M | -$60.1M | -$36.9M | -$11.0M | $27.5M | -$85.9M | -$17.5M |
| Financing cash flow | $46.9M | $11.0M | $5.0M | -$1.8M | $5.8M | $103.5M | $20.0M | -$8.4M | $80.6M | $9.9M |
| Dividends paid | $5.1M | $5.1M | $5.1M | $4.9M | $5.2M | $5.2M | $5.2M | $4.5M | $3.6M | $3.6M |
| Buybacks | $6.8M | $965.0K | $843.0K | $4.8M | $4.1M | $1.9M | $71.0K | $317.0K | $10.0K | $14.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001605301-26-000012.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |