8-K

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): June 6, 2022

CB FINANCIAL SERVICES, INC.

(Exact name of registrant as specified in its charter)

Commission file number: 001-36706

Pennsylvania	51-0534721
(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 or former address, 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 share	CBFV	The 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 or Rule 12b-2 of the Securities Exchange Act of 1934.   ☐

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 8.01.    Other Items.

On June 6, 2022, CB Financial Services, Inc. issued a press release announcing that its bank subsidiary, Community Bank, has recorded a loan charge-off of $2.7 million (pre-tax) relating to a commercial and industrial loan. For additional information, reference is made to the press release dated June 6, 2022, which is an exhibit hereto and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

a.Not applicable.

a.Not applicable.

a.Not applicable.

(d) Exhibits

99.1 Press Release dated June 6, 2022

101 Cover Page Interactive Data File (embedded in Inline XBRL)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CB FINANCIAL SERVICES, INC.
Date: June 6, 2022	By:	/s/ John H. Montgomery
		John H. Montgomery
		President and Chief Executive Officer

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EX-99.1

2111 N. Franklin Dr.

Washington, PA 15301

www.communitybank.tv

CB FINANCIAL SERVICES, INC.

RECORDS LOAN CHARGE-OFF

Washington, PA – June 6, 2022. CB Financial Services, Inc. (the “Company”) (NASDAQ: CBFV), the holding company for Community Bank (the “Bank”) and Exchange Underwriters, Inc., a wholly-owned insurance subsidiary of the Bank, announced today it has recorded a charge-off of $2.7 million (pre-tax) with respect to a commercial and industrial loan.

The charge-off relates to a $3.5 million revolving line of credit, with an outstanding balance of $2.66 million as of June 1, 2022, which is the only credit relationship the corporate borrower, a general contractor, has with the Bank. The borrower has notified the Bank that it intends to cease business operations over the course of the next year. There is no specific loan loss reserve against the loan. The line of credit is partially secured by the borrower’s business assets. The Bank is pursuing legal remedies designed to improve the chances of a recovery, although based on the Bank’s current evaluation of the credit relationship it is believed that the prospects for recovery in the foreseeable future are limited.

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.

Forward Looking Statements

Statements contained in this press release that are not historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and such forward-looking statements are subject to significant risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Act. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations and future prospects of the Company and its subsidiaries include, but are not limited to, general and local economic conditions, the scope and duration of economic contraction as a result of the COVID-19 pandemic and its effects on the Company’s business and that of the Company’s customers, changes in market interest rates, deposit flows, demand for loans, real estate values and competition, competitive products and pricing, the ability of our customers to make scheduled loan payments, loan delinquency rates and trends, our ability to manage the risks involved in our business, our ability to control costs and expenses, inflation, market and monetary fluctuations, changes in federal and state legislation and regulation applicable to our business, actions by our competitors, and other factors that may be disclosed in the Company’s periodic reports as filed with the Securities and Exchange Commission. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company assumes no obligation to update any forward-looking statements except as may be required by applicable law or regulation.

Company Contact:

John H. Montgomery

President and Chief Executive Officer

Phone: (724) 225-2400

Investor Relations:

Jeremy Hellman, Vice President

The Equity Group Inc.

Phone: (212) 836-9626

Email: jhellman@equityny.com

XML

Cover	Jun. 06, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jun. 06, 2022
Entity Registrant Name	CB FINANCIAL SERVICES, INC.
Entity File Number	001-36706
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	51-0534721
Entity Address, Address Line One	100 N. Market Street,
Entity Address, City or Town	Carmichaels,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15320
City Area Code	(724)
Local Phone Number	966-5041
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common stock, par value $0.4167 per share
Trading Symbol	CBFV
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0001605301
Amendment Flag	false