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

a. Net loan balances increased 4% year over year.

b. A combination of improved liquidity and a lower rate environment at the end of 2021 allowed for a 45% decrease in interest expense during the first six months of 2022 compared to the first six months of 2021.

c. Non-interest income for the first six months of 2022 was 9% higher than the comparable period in 2021. The increase was driven by income from alliance partnerships which help facilitate efficiencies and improve productivity for our client banks.

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 13.17% at June 30, 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, “We are very pleased with CBB’s record performance for the first half of 2022. At this point, the second half of 2022 presents a more challenging scenario. The headwinds of rising interest rates on potential loan demand, funding costs, and related fee income will all impact the bottom line. We can offset some of those factors by encouraging our client banks to engage our partner, FBBS Securities, for investment transactions. CBB stands ready to assist with loan participation purchases to alleviate concentration issues or expand lending limits. Our Executive Loan Program remains an attractive and confidential resource as well. We appreciate our client’s open door philosophy when it comes to meeting with members of the CBB team to discuss cash management, instant payments, FedNow, and other efficiency opportunities for your banks. Moreover, CBB’s Alliance Partners offer consulting services for negotiating your check printing and core contracts and have brought significant savings opportunities to our shareholders and clients. CBB’s expansion into eastern Tennessee continues to move forward. Many thanks to our clients and shareholders in Southwest Virginia for assisting our team with those efforts.”

Mr. Shook continued, “It’s been great connecting with so many of you during the summer convention season. The CBB team continues to focus on assisting our shareholders, clients, and prospects in building community banks for the future. We sincerely appreciate your support to expand our relationships.”