CBFV

EX-99.1

2 a20260630ex9912ndqtrearnin.htm

EX-99.1

Document

EXHIBIT 99.1

CB Financial Services, Inc.

Announces Second Quarter 2026 Financial Results and

Declares Quarterly Cash Dividend

WASHINGTON, PA., July 27, 2026 -- CB Financial Services, Inc. (“CB” or the “Company”) (NASDAQGM: CBFV), the holding company of Community Bank (the “Bank”), today announced its second quarter and year-to-date 2026 financial results.

Three Months EndedSix Months Ended

6/30/263/31/2612/31/259/30/256/30/256/30/266/30/25

(Dollars in thousands, except per share data) (Unaudited)

Net Income (Loss) (GAAP) $4,301 $3,867 $4,742 $(5,696)$3,949 $8,168 $5,858

Net Income Adjustments 14 (13)(943)9,623 — 1 808

Adjusted Net Income (Non-GAAP) (1) $4,315 $3,854 $3,799 $3,927 $3,949 $8,169 $6,666

Earnings (Loss) per Common Share - Diluted (GAAP)$0.80 $0.73 $0.89 $(1.07)$0.74 $1.54 $1.09

Adjusted Earnings per Common Share - Diluted (Non-GAAP) (1)

$0.81 $0.72 $0.72 $0.74 $0.74 $1.54 $1.24

Income (Loss) Before Income Tax Expense (GAAP)$5,099 $4,581 $5,270 $(7,020)$4,715 $9,680 $7,051

Net Provision (Recovery) for Credit Losses17 241 362 259 8 259 (32)

Pre-Provision Net Revenue (“PPNR”)

$5,116 $4,822 $5,632 $(6,761)$4,723 $9,939 $7,019

Net Income Adjustments18 (16)(765)11,752 — 2 1,023

Adjusted PPNR (Non-GAAP) (1) $5,134 $4,806 $4,867 $4,991 $4,723 $9,941 $8,042

(1)    Refer to Explanation of Use of Non-GAAP Financial Measures and reconciliation of adjusted net income and adjusted earnings per common share - diluted as presented later in this Press Release.

2026 Second Quarter Financial Highlights

•Total assets were $1.66 billion at June 30, 2026, an increase of $73.1 million from March 31, 2026. Strong organic deposit growth augmented cash balances and funded loans and investment security purchases. The Bank continues to focus efforts on managing the balance sheet to maximize earnings while maintaining a stable risk profile. These strategic movements include:

◦Effectively managing cash and liquidity.

◦Redeploying repayments of indirect automobile and residential mortgage loans into higher-yielding commercial loan products. Commercial loans totaled 62.1% of the Bank’s loan portfolio at June 30, 2026 compared to 58.6% at June 30, 2025.

◦The Bank continues to strategically shift its deposit mix toward lower cost core deposit relationships and away from higher priced funding, a favorable transition driven by the ongoing onboarding of Specialty Treasury clients that began during the first quarter of 2026.

•Net interest and dividend income increased for five consecutive quarters to $14.5 million for the three months ended June 30, 2026 compared to $13.9 million for the three months ended March 31, 2026, although net interest margin (NIM) declined after five consecutive quarters of improvement to 3.68% for the three months ended June 30, 2026 compared to 3.83% for the three months ended March 31, 2026. The decline in NIM resulted from a decrease in the yield on earning assets to 5.34% from 5.47%, driven by higher cash balances resulting from deposit growth. At the same time, the cost of funds increased to 1.72% from 1.70% resulting from Specialty Treasury deposit growth of $56.5 million in interest bearing demand and money market deposits.

1

EXHIBIT 99.1

•Noninterest expenses increased $378,000 to $10.4 million for the three months ended June 30, 2026 compared to $10.0 million for the three months ended March 31, 2026. This increase was driven by an increase in data processing due to the implementation of enhanced treasury and commercial banking platforms and an increase in salaries and employee benefits due to higher healthcare benefits.

•Asset quality remains strong as nonperforming loans to total loans was 0.29% at June 30, 2026.

•Book value per share and tangible book value per share (Non-GAAP) was $31.91 and $29.99, respectively at June 30, 2026. The improvements since year-end 2025 resulted from increased equity due to current period net income and stock option exercises, partially offset by the increase in accumulated other comprehensive losses, treasury shares repurchased under the Company’s stock repurchase program and the payment of dividends.

•The Bank remains well-capitalized and is positioned for future growth.

Management Commentary

President and CEO John H. Montgomery commented, “Our team’s disciplined execution and well-grounded strategy came through clearly in our second quarter performance, driving substantive progress towards the Company’s financial goals. Net interest income grew during the quarter, even as net interest margin declined due to elevated cash balances and slightly higher deposit costs. This growth was supported by a $69.5 million increase in organic deposits during the quarter, reflecting the continued strength of our core deposit franchise. Earning asset yields remained resilient, continuing to benefit from the balance sheet restructuring executed in the third quarter last year, which helps

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cbfv-202601270001605301FALSE00016053012026-01-272026-01-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 27, 2026

CB FINANCIAL SERVICES, INC.

(Exact name of registrant as specified in its charter)

Commission file number: 001-36706

Pennsylvania51-0534721 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

100 N. Market Street, Carmichaels, PA 15320 (Address of principal executive offices)(Zip Code)

(724) 966-5041

(Registrant’s telephone number, including area code)

Not Applicable (Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Common stock, par value $0.4167 per shareCBFVThe Nasdaq Stock Market, LLC (Title of each class)(Trading symbol)(Name of each exchange on which registered)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standard provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02. Results of Operations and Financial Condition. On January 27, 2026, CB Financial Services, Inc. ("the Company") issued a press release announcing its financial results for the year ended December 31, 2025, a copy of which is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Effective January 21, 2026, Amanda L. Engles was promoted to Chief Financial Officer of CB Financial Services, Inc. (the “Company”). She had been serving as the Company’s Interim Chief Financial Officer since February 2025. For further information, refer to the press release dated January 27, 2026, which is filed as Exhibit 99.3 hereto and incorporated herein by reference.

In connection with the promotion, the Bank and Amanda L. Engles entered into a Change in Control Agreement dated as of January 21, 2026. The Change in Control Agreement provides for an initial 2-year term and renews annually, subject to board approval. If a qualifying termination event occurs on or after a change in control of the Company or Community Bank, Ms. Engles would receive: (1) severance equal to a cash lump sum payment equal to two (2) times the sum of (i) her highest annual rate of base salary paid during the calendar year of, or two calendar years preceding her date of termination, and (ii) the average of the annual cash bonus earned by Executive for the three years preceding the year in which the Change in Control occurs; and (2) continued life insurance and non-taxable medical and dental insurance coverage for two years or until she receives substantially similar benefits from another employer whichever occurs earlier.

The foregoing summary of the Change in Control Agreement is not complete and is qualified in its entirety by reference to the full text of the Change in Control Agreement, which is attached as Exhibit 10.1 hereto and incorporated herein by reference.

Item 7.01. Regulation FD Disclosure. John H. Montgomery, President and Chief Executive Officer of the Company and Community Bank (the “Bank”) will meet with investors at the 2026 Janney CEO Forum Conference being held in Scottsdale, Arizona on February 4-5, 2026. A copy of the investor presentation to be used at the meeting is furnished herewith as Exhibit 99.2 and is incorporated herein by reference.

Item 8.01. Other Events. On January 27, 2026, the Company announced that its Board of Directors declared a cash dividend on the Company's outstanding shares of common stock. The dividend of $0.28 per share will be paid on or about February 27, 2026 to stockholders of record as of the close of business on February 13, 2026.

Item 9.01. Financial Statements and Exhibits. (d)Exhibits 10.1.    Change in Control Agreement - Engles (2026) 99.1.