CORRECTING and REPLACING CB Financial Services, Inc. Announces Expiration of the $10.0 Million Stock Repurchase Program

Rhea-AI Summary

CB Financial Services, Inc. announced the expiration of its $10.0 million stock repurchase program. The program commenced on May 2, 2022, and expired on May 1, 2023. During this period, the company purchased 74,656 shares of its common stock at an average price of $22.38 per share.

WASHINGTON, Pa.--(BUSINESS WIRE)-- Please replace the release with the following corrected version due to multiple revisions.

The updated release reads:

CB FINANCIAL SERVICES, INC. ANNOUNCES EXPIRATION OF THE $10.0 MILLION STOCK REPURCHASE PROGRAM

CB Financial Services, Inc. (the “Company”) (NASDAQ: CBFV), the holding company for Community Bank, announced the $10.0 million stock repurchase program expired on May 1, 2023, that commenced on May 2, 2022. In connection with the program, the Company purchased a total of 74,656 shares of the Company’s common stock at an average price of $22.38 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/20230502005771/en/

Company Contact:

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 news about CB Financial Services, Inc.?

CB Financial Services, Inc. announced the expiration of its $10.0 million stock repurchase program.

When did the stock repurchase program commence and expire?

The program commenced on May 2, 2022, and expired on May 1, 2023.

How many shares did the company repurchase?

During the program, CB Financial Services, Inc. purchased a total of 74,656 shares of its common stock.

What was the average price per share during the repurchase program?

The average price per share during the program was $22.38.