CB Financial Services, Inc. Completes $15 Million Subordinated Notes Offering

Dec 10, 2021

CB Financial Services, Inc. (the “Company”) (NASDAQGM: CBFV), the holding company of Community Bank and Exchange Underwriters, Inc., a wholly-owned insurance subsidiary of Community Bank, announced today the completion of a private placement offering of $15 million aggregate principal amount of the Company’s 3.875% Fixed-to-Floating Rate Subordinated Notes due 2031 (the “Notes”) to certain qualified institutional buyers and accredited institutional investors. The Company intends to use the net proceeds for general corporate purposes, which may include repurchases of its outstanding shares of common stock. The Notes are intended to qualify as Tier 2 capital for the Company for regulatory capital purposes.

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