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

a. Deposits are up 3% for the year. The additional deposits have been utilized to pay down higher funding costs to help manage interest expenses.

b. Cash balances are up due to temporary deposits held for investment.

c.   Non-interest income increased 6% year over year. The increase was driven by income from alliance partnerships helping our clients improve their productivity.

d. Continued focus on managing expenses resulted in non-interest expense remaining flat 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 13.14% at September 30, 2024, compared to 13.04% at December 31, 2023.

Gary R. Shook, President and Chief Executive Officer of CBB Financial Corp. and Community Bankers’ Bank commented, “As a bank-owned cooperative, CBB has experienced a strong year, whereby we are both buying and selling many loans on behalf of our shareholders and clients. This universe of banks continues to grow, providing a diversified pool of participation loans from Pennsylvania through the Carolinas. The continued focus on lending in our markets and cash settlement makes for a strong combination to assist our shareholders. Moreover, CBB’s Alliance Partnerships offer efficiency for our banks and allow CBB to continue to expand its sources of revenue. Please take a minute to review CBB’s services by clicking here. Finally, as we approach the holidays, the entire team at CBB wishes you the many blessings that the upcoming season can offer. I, too, am quite blessed by having the opportunity to work for you, our shareholder banks, to bring you the many services that continue to assist community banks in prospering as an important piece of the nation’s economic backbone.”

For further information, please contact:

Gary R. Shook