Community Bankers’ Bank and CBB Financial Corp. Announce First Quarter 2022 Operating Results

a. Net loan balances were slightly down in the First Quarter of 2022 as the funding of new loans were offset by payoffs and balances re-financed by other institutions. Loans year over year are up 4%.

b. The lower low rate environment for the majority of the First Quarter caused a 5% decrease in quarter over quarter interest income. This decrease was largely offset by utilizing excess liquidity to pay down borrowings.

c. Non-interest income for the First Quarter of 2022 was 15% higher than the comparable period in 2021. The increase was driven by income from alliance partnerships that helped our clients improve their productivity.

The Bank continues to maintain a strong capital position that exceeds all regulatory requirements to be classified as “well capitalized,” with a Community Bank Leverage Ratio of 12.61% at March 31, 2022, compared to 12.20% at December 31, 2021.

Gary R. Shook, President and Chief Executive Officer of CBB Financial Corp. and Community Bankers’ Bank, commented, “  Strong comparative revenue from fees positioned CBB for a strong performance in the First Quarter.  We were especially pleased with the assimilation of FBBS Securities, our newest alliance partner, into our shareholder and client banks. Additionally, our alliance partners delivered on creating efficiency and all important savings for our community banks.  The continued high level of liquidity in the system allowed for a greater number of loan pay-offs.  We see fairly robust loan demand  throughout CBB’s footprint which bodes well for the coming year.” 

Mr. Shook continued, “Community Bankers’ Bank’s 35th year of providing needed services to community banks and bankers stands as an important milestone in the mid-Atlantic and southeast.  As I have previously mentioned, CBB continues to be laser focused on adapting to the changing landscape and growing as we all navigate the dynamic environment of community banking.  As I travel through our markets meeting community bankers in their hometowns, I continue to be both pleased and humbled as to the important role CBB plays in support of community banking.”