Community Bankers’ Bank and CBB Financial Corp. Announce First Quarter 2023 Operating Results

a. Net loan balances were slightly down in the First Quarter of 2023 as the funding of new loans was offset by payoffs and balances re-financed by other institutions. Loans year over year are up 5%.

b. The increase in rates helped net interest income improve 7% year over year.

c. Non-interest income for the First Quarter of 2023 increased quarter over quarter. The increase was driven by income from alliance partnerships helping 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 12.96% at March 31, 2023, compared to 12.99% at December 31, 2022.

Gary R. Shook, President and Chief Executive Officer of CBB Financial Corp. and Community Bankers’ Bank commented, “The first quarter of 2023 underscored the importance of community banks and bankers in the American economy.  The CBB Team is so pleased and fortunate to serve our shareholders and clients as partners to ensure the vibrancy of all community banks.  CBB’s focus on expanding revenue sources, loan participation banks, and growing our partnership with FBBS Securities continued to strengthen revenue streams.  The 5% year-over-year loan growth was especially gratifying.  Moreover, CBB’s consulting partnerships for core technology and check printing have brought our shareholders and clients stronger contracts and substantial savings on a go-forward basis.”

Mr. Shook continued, “Finally, with the upcoming launch of faster payments and the FedNow℠ Service, CBB is your best partner to guide you and your team through the process.  Be on the lookout as we make the rounds over the coming months. Your support is much appreciated.”

For further information, please contact:

Gary R. Shook