Condensed Financial Statements of Parent Company

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Statements of Parent Company

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY

Financial information pertaining only to CB Financial Services, Inc., is as follows:

Statements of Financial Condition

December 31,	2022		2021
(Dollars in Thousands)
ASSETS
Cash and Due From Banks	$	14,516	$	18,567
Equity Securities, at Fair Value	1,822		1,877
Investment in Community Bank	107,727		126,262
Other Assets	814		1,123
TOTAL ASSETS	$	124,879	$	147,829
LIABILITIES AND STOCKHOLDERS' EQUITY
Other Borrowings	$	14,638	$	14,601
Other Liabilities	86		104
Stockholders' Equity	110,155		133,124
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	124,879	$	147,829

Statements of Income

Year Ended December 31,	2022		2021
(Dollars in Thousands)
Interest and Dividend Income	$	78	$	71
Dividend from Bank Subsidiary	4,947		9,675
Interest Expense	622		37
Net Interest and Dividend Income	4,403		9,709
Net (Loss) Gain on Securities	(54)		329
Noninterest Expense	19		12
Income Before Undistributed Net Income of Subsidiary and Income Tax Expense (Benefit)	4,330		10,026
Undistributed Net Income of Subsidiary	6,778		1,607
Income Before Income Tax (Benefit) Expense	11,108		11,633
Income Tax (Benefit) Expense	(139)		63
NET INCOME	$	11,247	$	11,570

Statements of Cash Flows

Year Ended December 31,	2022		2021
(Dollars in Thousands)
OPERATING ACTIVITIES
Net Income	$	11,247	$	11,570
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities:
Undistributed Net Income of Subsidiary	(6,778)		(1,607)
Noncash Expense for Stock-Based Compensation	600		566
Loss (Gain) on Equity Securities	55		(329)
Other, net	290		(423)
NET CASH PROVIDED BY OPERATING ACTIVITIES	5,414		9,777
INVESTING ACTIVITIES
Purchases of Equity Securities	—		(100)
Proceeds from Sales of Equity Securities	—		36
NET CASH USED IN INVESTING ACTIVITIES	—		(64)
FINANCING ACTIVITIES
Net Proceeds from Other Borrowings	37		14,601
Cash Dividends Paid	(4,920)		(5,168)
Treasury Stock, Purchases at Cost	(4,802)		(4,143)
Exercise of Stock Options	220		98
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(9,465)		5,388
(DECREASE) INCREASE IN CASH AND DUE FROM BANKS	(4,051)		15,101
CASH AND DUE FROM BANKS AT BEGINNING OF THE YEAR	18,567		3,466
CASH AND DUE FROM BANKS AT END OF THE YEAR	$	14,516	$	18,567

The Parent Company's Statements of Comprehensive (Loss) Income and Statements of Changes in Stockholders' Equity are identical to the Consolidated Statements of Comprehensive (Loss) Income and the Consolidated Statements of Changes in Stockholders' Equity and are not presented.