CB Financial Services, Inc. Announces Completion of $7.5 Million Stock Repurchase Program

Rhea-AI Summary

CB Financial Services, Inc. (NASDAQ: CBFV) has completed its $7.5 million stock repurchase program initiated on June 14, 2021. The company repurchased 308,993 shares at an average price of $24.27 each. This initiative reflects the company’s commitment to enhancing shareholder value and optimizing its capital structure.

Positive

• Completed a $7.5 million stock repurchase program, indicating strong capital management.
• Repurchased 308,993 shares at an average price of $24.27, potentially boosting earnings per share.

Negative

• None.

WASHINGTON, Pa.--(BUSINESS WIRE)-- CB Financial Services, Inc. (the “Company”) (NASDAQ: CBFV), the holding company for Community Bank, announced today that it has completed its previously announced $7.5 million stock repurchase program, which commenced on June 14, 2021. In connection with the program, the Company repurchased a total of 308,993 shares of its common stock at an average price of $24.27 per share.

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 and provides commercial and personal insurance brokerage services through Exchange Underwriters, Inc., its wholly owned subsidiary.

For more information about CB Financial Services, Inc. and Community Bank, visit our website at www.communitybank.tv.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220215006089/en/

John H. Montgomery

President and Chief Executive Officer

Phone: (724) 225-2400

Fax: (724) 225-4903



Investor Relations

Jeremy Hellman, Vice President

The Equity Group Inc.

Phone: (212) 836-9626

Email: jhellman@equityny.com

Source: CB Financial Services, Inc

FAQ

What is the purpose of CB Financial Services' stock repurchase program?

The stock repurchase program aims to enhance shareholder value and optimize the company's capital structure.

How many shares did CB Financial Services repurchase in its latest program?

CB Financial Services repurchased a total of 308,993 shares.

What was the average price per share during the stock buyback by CB Financial Services?

The average price per share during the buyback was $24.27.

When did CB Financial Services start its stock repurchase program?

The stock repurchase program commenced on June 14, 2021.