CB FINANCIAL SERVICES, INC. (NASDAQ:CBFV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 17, 2017, Patrick G. OBrien was promoted to President of
CB Financial Services, Inc. (the Company) and of its subsidiary
bank, Community Bank, succeeding Barron P. McCune, Jr. in that
office. Mr. McCune will continue to serve as Vice Chairman and
Chief Executive Officer of both organizations. Mr. OBrien had
served as Senior Executive Vice President and Chief Operating
Officer of the Company and Community Bank.
| Item 5.07 |
Submission of Matters to a Vote of Security Holders. |
The Company held its annual meeting of stockholders on May 17,
2017. The final voting results as to each matter submitted to a
vote of stockholders are as follows:
| 1. |
The following individuals were elected as directors for a three-year term and until their successors are elected and qualified, by the following vote: |
| Name | For | Withheld |
Broker Non-Votes |
|||
| Mark E. Fox | 2,307,978 | 88,731 | 914,829 | |||
| William C. Groves | 2,175,956 | 220,753 | 914,829 | |||
| John J. LaCarte | 2,302,472 | 94,237 | 914,829 | |||
| David F. Pollock | 2,331,954 | 64,755 | 914,829 |
| 2. |
The appointment of Baker Tilly Virchow Krause, LLP to serve as the Companys independent registered public accounting firm for the fiscal year ending December 31, 2017 was ratified by the following vote: |
| For | Against | Abstain |
Broker Non-Votes |
|||
| 3,319,732 | 61,650 | 130,156 | – |
| Item 7.01 | Regulation FD Disclosure. |
On May 17, 2017, Messrs. McCune and OBrien delivered a
presentation to the attendees of the Companys 2017 Annual
Shareholders Meeting. A copy of the CB Financial Services, Inc.
Shareholder Presentation is furnished herewith as Exhibit 99.1
and is incorporated herein by reference.
On May 17, 2017, the Company issued a press release announcing
the events reported under Items 5.02, 5.07 and 8.01 herein. A
copy of the press release is furnished herewith as Exhibit 99.2
(Annual Meeting Results) and incorporated in this Item 7.01 by
reference.
| Item 8.01 | Other Events. |
On May 17, 2017, Ralph Burchianti was promoted to Executive Vice
President and Chief Credit Officer of Community Bank. He had
previously served as Executive Vice President of Loan
Administration.
On May 17, 2017, CB Financial Services, Inc. (the Company)
announced that its Board of Directors declared a cash dividend on
the Companys outstanding shares of stock. The dividend of $0.22
per share will be paid on or about June 19, 2017 to stockholders
of record on June 9, 2017.
A copy of the press release announcing the cash dividend is
included as Exhibit 99.3 (Cash Dividend Declaration) and
incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
99.1 CB Financial Services, Inc. Shareholder Presentation
99.2 Press Release dated May 17, 2017 – Annual Meeting Results
99.3 Press Release dated May 17, 2017 – Cash Dividend Declaration
About CB FINANCIAL SERVICES, INC. (NASDAQ:CBFV)
CB Financial Services, Inc. is the bank holding company for Community Bank (the Bank). The Company operates in community banking segment. The Bank offers residential and commercial real estate loans, commercial and industrial loans, and consumer loans, as well as a range of deposit products for individuals and businesses in its market area. The Bank operates through a network of approximately 20 offices in Greene, Allegheny, Washington, Fayette and Westmoreland Counties in southwestern Pennsylvania. The Company’s principal lending activity is the origination of residential loans secured by one- to four-family residential properties in its local market area. In addition, the Bank offers property and casualty, commercial liability, surety and other insurance products, through its subsidiary, Exchange Underwriters, Inc. (Exchange Underwriters), an independent insurance agency. CB FINANCIAL SERVICES, INC. (NASDAQ:CBFV) Recent Trading Information
CB FINANCIAL SERVICES, INC. (NASDAQ:CBFV) closed its last trading session 00.00 at 27.93 with 975 shares trading hands.
