secwatch.observer — SEC 8-K summary
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Issuer:     CB Financial Services, Inc. (CBFV)
CIK:        0001605301
Form:       8-K
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001605301-23-000045
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CB Financial Services agrees to sell insurance agency subsidiary for $30.5M cash
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- Purchase price $30.5M cash plus earn-out for Exchange Underwriters (2022 revenue $6.0M).
- Expected after-tax gain on sale of ~$16.4M.
- Pro forma TCE/TA improves 114bps to 8.56%; tangible book value per share up 16.8% to $23.47.
- President Richard Boyer to resign as director at closing; receives $600K settlement and vesting of equity awards.
- Transaction expected to close in Q4 2023, subject to customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1605301/000160530123000045/0001605301-23-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1605301/000160530123000045/cbfv-20231201.htm
  HTML page:      https://secwatch.observer/filing/0001605301-23-000045

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