CB Financial Services Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
CBFV$40.34-2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Three Months Ended March 31, | 2024 | 2023 |
|---|---|---|
| (Dollars in thousands) | ||
| OPERATING ACTIVITIES | ||
| Net Income | $4,196 | $4,156 |
| Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities | ||
| Net (Accretion) Amortization on Securities | (212) | 22 |
| Depreciation and Amortization | 718 | 710 |
| Recovery (Provision) for Credit Losses - Loans | (143) | 80 |
| Provision for Credit Losses - Unfunded Commitments | 106 | — |
| Loss on Securities | 166 | 232 |
| Gain on Purchased Tax Credits | (12) | (7) |
| Income from Bank-Owned Life Insurance | (148) | (140) |
| Gain on Bank-Owned Life Insurance Death Benefit Claims | (915) | — |
| Proceeds From Mortgage Loans Sold | 994 | 140 |
| Originations of Mortgage Loans for Sale | (972) | (138) |
| Gain on Sale of Loans | (22) | (2) |
| Gain on Sale of Other Real Estate Owned and Repossessed Assets | (7) | — |
| Noncash Expense for Stock-Based Compensation | 178 | 174 |
| Increase in Accrued Interest Receivable | (162) | (33) |
| Gain on Disposal of Premises and Equipment | (274) | (11) |
| Decrease in Deferred Income Tax | (300) | — |
| Increase in Taxes Payable | 925 | 1,129 |
| Increase in Accrued Interest Payable | 399 | 109 |
| Other, Net | (1,255) | 810 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 3,260 | 7,231 |
| INVESTING ACTIVITIES | ||
| Investment Securities Available for Sale: | ||
| Proceeds From Principal Repayments and Maturities | 3,082 | 3,359 |
| Purchases of Securities | (19,770) | — |
| Net Decrease (Increase) in Loans | 24,482 | (15,865) |
| Purchase of Premises and Equipment | (970) | (204) |
| Proceeds from Disposal of Premises and Equipment | 988 | 36 |
| Proceeds From a Claim on Bank-Owned Life Insurance | — | 1,392 |
| Proceeds From Sale of Other Real Estate Owned | 169 | — |
| Decrease in Restricted Equity Securities | 177 | 223 |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 8,158 | (11,059) |
| FINANCING ACTIVITIES | ||
| Net (Decrease) Increase in Deposits | (4,665) | 13,017 |
| Net Decrease in Short-Term Borrowings | — | (7,939) |
| Cash Dividends Paid | (1,280) | (1,275) |
| Treasury Stock, Purchases at Cost | (5) | (130) |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (5,950) | 3,673 |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 5,468 | (155) |
| CASH AND DUE FROM BANKS AT BEGINNING OF YEAR | 68,223 | 103,700 |
| CASH AND DUE FROM BANKS AT END OF PERIOD | $73,691 | $103,545 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Three Months Ended March 31, | 2024 | 2023 |
|---|---|---|
| (Dollars in thousands) | ||
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||
| Cash Paid For: | ||
| Interest on Deposits and Borrowings (Including Interest Credited to Deposits of $5,736 and $2,540, Respectively) | $5,995 | $2,522 |
| Income Taxes | 32 | — |
| SUPPLEMENTAL NONCASH DISCLOSURE: | ||
| Proceeds Receivable from Claims on Bank-Owned Life Insurance | 2,679 | 1,392 |
| Other Real Estate Acquired in Settlement of Loans | — | 248 |
| Securities Purchased Not Settled | 10,075 | — |
| Syndicated Loans Purchased and Sold Not Settled, net | 10,550 | 8,943 |
| Right of Use Asset Recognized | 1,042 | 77 |
| Lease Liability Recognized | 1,042 | 75 |
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