Community Bankers’ Bank and CBB Financial Corp. Announce Fourth Quarter 2021 Operating Results

a. Non-interest income for the Fourth Quarter of 2021 was 33% higher than the comparable period in 2020. The increase was driven in part by interest-sensitive fee income that rises when market rates fall. Additionally, income from alliance partnerships helping our clients improve productivity drove the remaining increase.

b. Net loan balances fell by 2.7% in 2021. The funding of new loans was offset by payoffs and balances re-financed by other institutions.

c. Despite the lower rate environment, net interest income remained flat as lower loan yields were offset by utilizing excess liquidity to pay down borrowings.

d. The Board of Directors of CBBFC paid a two-dollar ($2.00) per share annual dividend for shareholders on December 1, 2021.

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 12.20% at December 31, 2021, compared to 11.24% on December 31, 2020.

Gary R. Shook, President and Chief Executive Officer of CBB Financial Corp. and Community Bankers’ Bank, commented, “CBB’s focus on driving fee income began to show results in the 4^th Quarter and for all of 2021. As with many of our shareholder banks, CBB is primarily driven by balance sheet-related income. The focus on building multiple revenue channels is important to CBB, and the investments we make will provide needed revenue and savings opportunities for our shareholders and clients. One of those areas of focus is our new partnership with FBBS Securities.

This joining of forces and resources will greatly enhance the investment options and the level of portfolio advice and services available to CBB’s shareholders and clients.”

Mr. Shook continued, “Finally, as Community Bankers’ Bank embarks on the 35^th year of providing needed services to banks and bankers, we continue to be laser-focused on adapting to the changing landscape and growing as we all navigate the changing environment of community banking. Be on the lookout as we look back, and more importantly, look forward to celebrating this important milestone.”