Community Bankers’ Bank and CBB Financial Corp. Announce First Quarter 2024 Operating Results

a.  Net loan balances are up 12% year over year.

b.  Increased funding cost in 2023 resulted in flat year-over-year Net Interest Income, but Net Interest Income improved quarter over quarter.

c. Non-interest income for the First Quarter of 2024 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 12.85% at March 31, 2024, compared to 13.04% at December 31, 2024.

Gary R. Shook, President and Chief Executive Officer of CBB Financial Corp. and Community Bankers’ Bank, commented, “Pleased to be off to a strong start for 2024. The historic rise in interest rates, especially impacting our cost of funds, has been a headwind for all banks, including CBB. With the greatest of those impacts behind us, we anticipate continually enhancing performance moving forward. We are especially pleased with the number of new accounts and consulting opportunities afforded us as we begin the new year. CBB’s affiliation with First Bankers’ Bank Securities continues to grow. I ask that each of our shareholders and clients seek ways to do your bond trading business with FBBS, our core consulting, check printing consulting, and all of the Alliance Partners. Also, should you have any FedNow® Service questions, please feel free to reach out to us. Finally, as we quickly push into June and the summer season, the CBB team looks forward to connecting with each of you throughout our travels.”

For further information, please contact:

Gary R. Shook