CB Financial Services (CBFV) Suspends Stock Repurchase Program

CB Financial Services, Inc. (NASDAQ: CBFV), the holding company for Community Bank, announced today that it has joined other banking institutions in suspending its stock repurchase program. The program has been suspended until further notice. To date, the Company has repurchased 69,966 shares totaling $2.0 million of the $5.0 million authorized for repurchase under the program.

Barron P. “Pat” McCune, Jr., President and Chief Executive Officer, said, “Given the evolving economic circumstances surrounding the COVID-19 coronavirus pandemic, our Board of Directors has determined to suspend the stock repurchase program so as to preserve the Company’s excess capital to support Community Bank’s business of providing financial services to its customers and communities.”

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