Business
CB Financial Services, Inc. Completes Sale of Insurance Agency Subsidiary
WASHINGTON, Pa.--(BUSINESS WIRE)-- CB Financial Services, Inc. (“CB”) (NASDAQGM: CBFV), the holding company of Community Bank (the “Bank”), and Exchange
About this update from Cb Financial Services, Inc.
[{"type":"text","content":" WASHINGTON, Pa.--(BUSINESS WIRE)--\nCB Financial Services, Inc. (“CB”) (NASDAQGM: CBFV), the holding company of Community Bank (the “Bank”), and Exchange Underwriters, Inc. (“Exchange Underwriters”), the full-service independent insurance agency subsidiary of the Bank, announced today the completion of the sale of substantially all of the assets of Exchange Underwriters pursuant to the Asset Purchase Agreement with World Insurance Associates, LLC (“World”) for a $30.5 million cash purchase price plus possible additional revenue-based earn-out payments.\n\n\nDowling Hales acted as exclusive financial advisor and Luse Gorman, PC acted as legal counsel to CB.\n\n\nAbout CB Financial Services, Inc.\n\n\nCB Financial Services, Inc. is the bank holding company for Community Bank, a Pennsylvania-chartered commercial bank. Community Bank operates its branch network in southwestern Pennsylvania and West Virginia. Community Bank offers a broad array of retail and commercial lending and deposit services.\n\n\nFor more information about CB Financial Services, Inc. and Community Bank, visit our website at www.communitybank.tv.\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20231208713506/en/\n\nJohn H. Montgomery\nPresident and Chief Executive Officer\nPhone: (724) 225-2400\n\n\nSource: CB Financial Services, Inc.","length":2986,"tagName":"div"}]