---
schema_version: "secwatch.filing_event.v1"
accession: "0001605301-23-000049"
form_type: "8-K"
ticker: "CBFV"
cik: "0001605301"
company_name: "CB Financial Services, Inc."
filed_at: "2023-12-08T23:59:59+00:00"
generated_at: "2026-06-07T15:36:29.726015+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CB Financial completes sale of Exchange Underwriters for $30.5M cash

## Summary
- Sale of wholly owned insurance agency Exchange Underwriters to World Insurance Associates for $30.5M cash plus potential earn-outs.
- Director Richard Boyer resigned from all boards effective December 8; board sizes reduced accordingly.
- Transaction closed on December 8, 2023; Community Bank remains CB's sole banking subsidiary.

## SEC filing metadata
- accession: 0001605301-23-000049
- form_type: 8-K
- ticker: CBFV
- cik: 0001605301
- company_name: CB Financial Services, Inc.
- filed_at: 2023-12-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1605301/000160530123000049/0001605301-23-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1605301/000160530123000049/cbfv-20231208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001605301-23-000049
- JSON: https://secwatch.observer/filing/0001605301-23-000049.json
- Plain text: https://secwatch.observer/filing/0001605301-23-000049.txt

## Key facts
- Executive change
  Richard Boyer resigned as director at CB Financial Services, Inc..
  - Action: resigned
  - Role: director
  source text: In connection with the closing of the Transaction (as defined in Item 8.01 below), Richard Boyer resigned from his directorships at CB Financial Services, Inc. (the “Company”), Community Bank (the “Bank”) and Exchange Underwriters, Inc. (“Exchange Underwriters”), effective December 8, 2023 .
  evidence_url: https://www.sec.gov/Archives/edgar/data/1605301/000160530123000049/0001605301-23-000049-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.