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

a. After a slow first quarter, loan demand picked up, resulting in strong growth in net loan balances in the Second Quarter of 2023. Loans year over year are up 4%.

b. The increase in rates helped net interest income improve 3% year over year.

c. Non-interest income 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 13.29% at June 30, 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 unprecedented rise in interest rates has hampered our earnings momentum in 2023 as well as the final quarter of 2022. With that said, CBB continues to push forward with loan growth, adding new investment clients and account-holding banks. This all bodes well as we move toward a more normalized rate environment in 2024 and beyond. Through CBB’s partnership with Pidgin, a certified FedNow℠ Service Provider, we are pleased to offer FedNow Settlement and Liquidity Agent services. The CBB team is ready to assist your Bank with FedNow implementation. As we continue to push forward, we seek shareholder input via a Survey sent your way at the end of last week. Having relevant information from each of CBB’s shareholder banks and other clients will help determine capital needs and other services going forward. Please take a couple of minutes to complete the survey.”

For further information, please contact:

Gary R. Shook