Cb Financial Services, Inc. · NASDAQ:CBFV
Cb Financial Services — Investor Presentation (January 2025)
28 slides from Cb Financial Services's investor presentation, Jan 29, 2025
Slide 1: Q4 2024 Investor Presentation
The Q4 2024 Investor Presentation should be read in conjunction with the Earnings Release furnished in Exhibit 99.1 to Form 8K furnished with the SEC on January 29, 2025.
Slide 2: 2025 Macro Outlook
2025 Macro Outlook Overall, while there are positive factors, CB will need to remain vigilant and adaptable to navigate the uncertainties and complexities of the macroeconomic landscape in 2025. Item Comment The Federal Reserve's rate cuts are anticipated to continue although at a slower Monetary Po
Slide 3: Strategic Focus
Strategic Focus Treasury Management & Commercial Banking Strategy Strategic Focus Objectives Results CB's footprint contains highly concentrated markets and Build and develop a Treasury Management (TM) and In 2024, the Bank retained Jim Mele, a seasoned veteran with there is opportunity to gain mark
Slide 4: Strategic Initiatives
Strategic Initiatives Strategic Initiatives • Revenue Growth ▪ Outperform peer organic revenue growth • People, Culture & Innovation ▪ Upgrade our organizational culture, practices and structure to attract top talent and embed innovation • Digital Delivery & Transformation ▪ Leverage our upgraded, f
Slide 5: About Us
About Us Our Mission Statement Community Bank partners with individuals, businesses and communities to realize their dreams, protect their financial futures and improve their lives. Our Core Values Take Care of Each Other Always Do the Right Thing Be a Great Teammate Work Hard to Achieve Our Goals G
Slide 6: CB Financial Services, Inc. - Corporate Overview
CB Financial Services, Inc. - Corporate Overview • Holding Company for Community Bank (Carmichaels, PA), serving the community since 1901 • Community Bank operates 12 full-service branch offices Branches/ITM and two loan production offices in southwestern LPO Pennsylvania and northern West Virginia
Slide 7: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements and Non-GAAP Financial Measures Statements contained in this investor presentation that are not historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and such forward-looking statements ar
Slide 8: Q4 2024 Financial Highlights
Q4 2024 Financial Highlights
Slide 9: Q4 2024 Highlights
Q4 2024 Highlights Balance Sheet & Asset Quality (as of December 31, 2024 unless otherwise noted) • Steady loan portfolio. Net loans ($1.08 billion) increased 2.5% from September 30, 2024 due to commercial lending efforts. • Strong deposit base. Deposits ($1.28 billion) decreased 5.2% from September
Slide 10: Q4 2024 Results Overview
Q4 2024 Results Overview Financial Highlights Change ($000s except per share) Q4 2024 Q3 2024 Q4 2023 Quarterly Highlights(3) Balance Sheet Total Loans (Net Allowance) $ 1,082,821 $ 26,545 $ (17,868) Balance Sheet: Total Deposits 1,283,517 (70,303) 16,358 • Loans increased $26.5 million as a result
Slide 11: Financial Trends - Balance Sheet
Financial Trends - Balance Sheet Total Assets Total Net Loans $1,600 Net Loans Yield on Loans $1,560 $1,562 $1,125 6.00% $1,101 $1,100 5.80% $1,500 $1,482 $1,087 $1,083 $1,473 in millions $1,456 $1,069 in millions $1,075 5.60% $1,056 $1,400 $1,050 5.40% $1,025 5.20% $1,300 $1,000 5.00% 12/31/23 3/31
Slide 12: Financial Trends - Earnings and Profitability
Financial Trends - Earnings and Profitability Net Income / PPNR (non-GAAP) Earnings Per Share (EPS) - Diluted Net Income PPNR $3.00 $20,000 $2.52 $16,889 $15,000 $2.00 $12,966 in thousands $10,000 $1.00 $0.82 $5,079 $0.60 $5,000 $4,196 $3,925 $3,734 $0.51 $0.46 $2,650 $3,174 $3,219 $2,529 $— $— Q4 2
Slide 13: Financial Trends - Earnings and Profitability
Financial Trends - Earnings and Profitability Total Revenue (non-GAAP) Highlights - Noninterest Income (adj.) Net Interest Income Noninterest Income (adj.) • All periods exclude gains/losses on securities. • Q4 2023 - excludes a gain on the sale of Exchange Underwriters $12,500 ("EU") of $24.6 milli
Slide 14: Deposit Composition / Characteristics
Deposit Composition / Characteristics
Slide 15: Deposit Mix and Cost
Deposit Mix and Cost Deposit Mix Cost of Interest-Bearing Deposits 5.46% 5.36% 5.30% 5.50% 12/31/23 21.9% 28.6% 15.9% 15.4% 15.9% 2.3% 5.00% 4.74% 4.81% 4.32% 4.39% 4.29% 4.50% 4.08% 3.83% 3/31/24 21.8% 25.6% 16.5% 15.1% 17.7% 3.3% 4.00% Noninterest-Bearing 3.50% 3.08% 3.16% 3.18% 2.99% Interest-Bea
Slide 16: Secure Deposit Base
Secure Deposit Base • In total, 78.4% of client deposits (non- brokered) are FDIC insured or As of 12/31/2024 collateralized with investment securities as of December 31, 2024, compared to 77.6% as of December 31, 2023. Uninsured, 21.6% • Uninsured client deposits consist of business & retail deposi
Slide 17: Strong Liquidity Position
Strong Liquidity Position Highlights Other Capacity Cash • Cash & Cash Equivalents totaled $49.6 million, $50.0 million $49.6 million or 3.3% of total assets. Investments $86.0 million • Investment Securities totaled $262.2 million, with $176.2 million utilized as collateral for public Fed Capacity
Slide 18: Loan Portfolio Composition
Loan Portfolio Composition
Slide 19: Loan Portfolio Composition
Loan Portfolio Composition As of 12/31/2024 Highlights Consumer 6.5% • Loans decreased $17.8 million, or 1.6%, from Other 2.9% December 31, 2023 due primarily from exit of indirect Real Estate- lending. Loans increased $26.9 million, or 2.5% from Residential 30.9% Commercial & Industrial 10.3% Septe
Slide 20: Commercial Loan Portfolio Detail
Commercial Loan Portfolio Detail C&I and CRE Loans by Industry Highlights 11.1% • CRE loans represent 44.4% of our total loan portfolio. 1.1% 25.3% • Limited exposure to office space. 1.9% Retail Space 2.8% Multifamily • 23.0% of CRE loans are owner occupied. 5.3% Warehouse Space • Non-Owner Occupie
Slide 21: Consumer Loan Portfolio Detail
Consumer Loan Portfolio Detail Consumer Lending Portfolio - $408.9M Highlights • Residential loans represent 31.0% of our total loan portfolio. • 62.3% of residential loans carried an LTV of less than 70%, at 15.3% the time of underwriting. 1-4 Family • Indirect auto loans represent 5.5% of our tota
Slide 22: Asset Quality and Capital Ratios
Asset Quality and Capital Ratios
Slide 23: Asset Quality Trends
Asset Quality Trends Net Charge-Offs (Recoveries) / Average Loans Nonperforming Loans / Total Loans Net Charge Offs (Recoveries) NCO's (Recoveries)/ Avg Loans Nonperforming Loans (000's) Nonperforming/Total Loans $200 0.10% $2,400 $2,240 $2,189 0.24% $157 $2,047 0.08% $1,857 $1,789 $150 0.06% $1,600
Slide 24: Capital Ratios (Bank Only)
Capital Ratios (Bank Only) Common Equity Tier 1 Capital (to Risk Weighted Assets) Tier 1 Capital to Risk Weighted Assets Common Equity Tier 1 Capital Adequately Capitalized Well Capitalized Tier 1 Capital Adequately Capitalized Well Capitalized 16.00% 16.00% 14.50% 14.62% 14.79% 14.78% 14.50% 14.62%
Slide 25: Conclusions
Conclusions
Slide 26: Investment Summary
Investment Summary Market Presence with Brand Recognition Seasoned Executive Serving Stable Southwestern PA & Leadership Ohio River Valley markets Proven experience through all economic cycles Rewarding Shareholders Stable quarterly dividend and active stock repurchase plan Deploying Technology to I
Slide 27: Concluding Thoughts
Concluding Thoughts ◦ Community bank model is highly-differentiated compared with large regional banks experiencing recent regulatory issues ◦ Intense focus on sales and service culture and quality product offerings which builds full relationships with our clients ◦ Utilize technology investments to
Slide 28: Contact Information
Contact Information Company Contact John H. Montgomery FDIC Headquarters: President and Chief Executive Officer 100 N. Market Street Phone: (724) 223-8317 Carmichaels, PA 15320 Investor Relations Corporate Center: The IR Group 2111 North Franklin Drive, Suite 200 Diane Fitzgibbons, President Washing
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