CB Financial Services, Inc. Announces Net Charge-Offs for the Year Ended December 31, 2019
January 31, 2020 at 04:07 pm EST
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CB Financial Services, Inc. announced net charge-offs for the year ended December 31, 2019 of $416,000, which included $398,000 of net charge-offs on automobile loans, compared to net charge-offs of $1.8 million for the year ended December 31, 2018. Net charge-offs to average loans decreased from 0.21% to 0.05% year-over-year with the allowance for loan losses to total loans ratio declining slightly to 1.04% at December 31, 2019 compared to 1.05% at December 31, 2018.
CB Financial Services, Inc. is the bank holding company. The Company conducts its operations primarily through its wholly owned subsidiary, Community Bank (the Bank). The Bank offers range of residential and commercial real estate loans, commercial and industrial loans, and consumer loans and deposit products for individuals and businesses in its market area. The Company's principal lending activity has been the origination in its local market area of residential one- to four-family, commercial real estate, construction, and others. Its residential real estate loans are comprised of loans secured by one- to four-family residential properties. It provides loans to individuals to finance the construction of residential dwellings, construction of commercial properties, including hotels, and apartment buildings. Its investment portfolio includes United States Government Agency Securities, Obligations of States and Political Subdivisions, Mortgage-Backed Securities, and Corporate Debt.
CB FINANCIAL SERVICES, INC. 
