secwatch.observer — SEC 8-K summary
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Issuer:     CB Financial Services, Inc. (CBFV)
CIK:        0001605301
Form:       8-K
Filed at:   2025-02-05T23:59:59+00:00
Accession:  0001605301-25-000005
Event type: leadership
Sentiment:  negative
Materiality: 0.85
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud

CB Financial Services CFO resigns, company reduces workforce by 5%, expects $1.0M charges
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- CFO Jamie L. Prah resigned effective February 14, 2025; receives gross severance of $558,413.75 and full vesting of 2,260 restricted shares.
- Amanda Engles appointed interim CFO; she joined Community Bank in 2023 and was previously CFO of Emclaire Financial Corp.
- Workforce reduced by seven employees (approx. 5%); one-time pre-tax charges estimated at $1.0 million in Q1 2025.
- Operational changes expected to yield annual pre-tax cost savings of approximately $1.5 million.
- Prah also receives $400,000 life insurance coverage until May 1, 2027 and a $34,365.51 bonus for 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1605301/000160530125000005/0001605301-25-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1605301/000160530125000005/cbfv-20250204.htm
  HTML page:      https://secwatch.observer/filing/0001605301-25-000005

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