CB Financial Services Inc
For the period ended Sep 30, 2024. Filed Nov 8, 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.
Sep 30, 2024 · Filed Nov 8, 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)
| Nine Months Ended September 30, | 2024 | 2023 |
|---|---|---|
| (Dollars in thousands) | ||
| OPERATING ACTIVITIES | ||
| Net Income | $10,065 | $9,586 |
| Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities | ||
| Net (Accretion) Amortization on Securities | (564) | 56 |
| Depreciation and Amortization | 1,973 | 2,133 |
| (Recovery) Provision for Credit Losses - Loans | (105) | 863 |
| (Recovery) Provision for Credit Losses - Unfunded Commitments | (9) | 54 |
| (Gain) Loss on Securities | (49) | 369 |
| Gain on Purchased Tax Credits | (37) | (22) |
| Income from Bank-Owned Life Insurance | (442) | (425) |
| Gain on Bank-Owned Life Insurance Death Benefit Claims | (915) | — |
| Proceeds From Mortgage Loans Sold | 3,696 | 269 |
| Originations of Mortgage Loans for Sale | (4,075) | (266) |
| (Gain) Loss on Sale of Loans | (49) | 3 |
| Loss (Gain) on Sale of Other Real Estate Owned and Repossessed Assets | 30 | (13) |
| Noncash Expense for Stock-Based Compensation | 591 | 557 |
| Increase in Accrued Interest Receivable | (1,160) | (600) |
| Valuation adjustment on real estate owned | — | 119 |
| Gain on Disposal of Premises and Equipment | (274) | (11) |
| Increase in Deferred Income Tax | 1,035 | — |
| Decrease in Taxes Payable | (4,314) | (632) |
| Increase in Accrued Interest Payable | 1,364 | 1,390 |
| Other, Net | (1,600) | 4,236 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 5,161 | 17,666 |
| INVESTING ACTIVITIES | ||
| Investment Securities Available for Sale: | ||
| Proceeds From Principal Repayments and Maturities | 10,722 | 12,357 |
| Purchases of Securities | (70,224) | — |
| Net Decrease (Increase) in Loans | 50,551 | (55,546) |
| Purchase of Premises and Equipment | (3,045) | (1,594) |
| Proceeds from Disposal of Premises and Equipment | 988 | 46 |
| Proceeds From a Claim on Bank-Owned Life Insurance | 2,678 | 731 |
| Investment in Low Income Housing Tax Credit | (604) | — |
| Proceeds From Sale of Other Real Estate Owned | 132 | 142 |
| Decrease (Increase) in Restricted Equity Securities | 269 | (517) |
| NET CASH USED IN INVESTING ACTIVITIES | (8,533) | (44,381) |
| FINANCING ACTIVITIES | ||
| Net Increase (Decrease) in Deposits | 86,661 | (32,214) |
| Net Decrease in Short-Term Borrowings | — | (8,060) |
| Proceeds From Other Borrowed Funds | — | 20,000 |
| Cash Dividends Paid | (3,850) | (3,832) |
| Treasury Stock, Purchases at Cost | (331) | (327) |
| Exercise of Stock Options | (6) | 45 |
| NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 82,474 | (24,388) |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 79,102 | (51,103) |
| CASH AND DUE FROM BANKS AT BEGINNING OF YEAR | 68,223 | 103,700 |
| CASH AND DUE FROM BANKS AT END OF PERIOD | $147,325 | $52,597 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Nine Months Ended September 30, | 2024 | 2023 |
|---|---|---|
| (Dollars in thousands) | ||
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||
| Cash Paid For: | ||
| Interest on Deposits and Borrowings (Including Interest Credited to Deposits of $19,726 and $9,923, Respectively) | $20,799 | $10,511 |
| Income Taxes | 6,372 | 2,570 |
| SUPPLEMENTAL NONCASH DISCLOSURE: | ||
| Other Real Estate Acquired in Settlement of Loans | 150 | 248 |
| Syndicated Loans Purchased and Sold Not Settled, net | 6,000 | (1,967) |
| Right of Use Asset Recognized | 1,419 | — |
| Unfunded Commitment in Low Income Housing Tax Credit | 5,396 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.