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

a. DDA balances are up 6% for the year.  The additional deposits have been utilized to pay down higher funding costs, allowing for lower interest expense quarter over quarter.

b. Non-interest income increased 7% year over year. The increase was driven by income from alliance partnerships helping our clients improve their productivity. 

c. Continued focus on managing expenses resulted in a 1% decrease in non-interest expense year over year.

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 12.83% at June 30, 2024, compared to 13.044% at December 31, 2023.

Gary R. Shook, President and Chief Executive Officer of CBB Financial Corp. and Community Bankers’ Bank, commented, “We are very pleased with the continued improvement in performance as we progress through 2024.  Loans are up nicely year over year, which is a testament to the vibrant markets in which CBB is privileged to operate.  A big shout-out to our clients and shareholders for enabling our team to make that happen.   Fee income has remained strong and will continue to improve as interest rates moderate.   Additionally, the CBB Team remains diligent in improving non-interest expense as a community bank-owned cooperative to better provide services to our shareholders and clients.  As banks begin to do more portfolio trading, we ask that you give CBB a call to assist.  Finally, seeing so many of our bankers out on the summer circuit was gratifying.  Please let us know how we can be of greater assistance in growing your banks.”

For further information, please contact:

Gary R. Shook