Community Bank Announces Consolidation of Branches
30 June 2020 - 5:07AM
Community Bank (the “Bank”), the bank subsidiary of CB Financial
Services, Inc. (NASDAQGM: CBFV), today announced that it has filed
notice with its regulators of its plans to consolidate its Monessen
branch office located at 565 Donner Avenue, Monessen, Pennsylvania,
with its nearby Rostraver branch office located at 1670 Broad
Avenue, Belle Vernon, Pennsylvania, and consolidate its Bethlehem
branch office located at 1090 East Bethlehem Boulevard, Wheeling,
West Virginia, with its nearby Woodsdale branch office located at
875 National Road, Wheeling, West Virginia. The proposed
consolidation date is September 30, 2020. Following consolidation,
the Monessen and Bethlehem locations will no longer operate as
branch offices.
“The decision to consolidate our Monessen and Bethlehem branches
followed a thorough review of our operations and is based primarily
on the close proximity to other Community Bank branches,” said
Barron P. McCune, Jr., President and Chief Executive Officer of the
Bank. “Transaction counts in all branches are declining, especially
in light of measures taken due to COVID-19. Over the years, we have
offered some of the best on-line and mobile banking services
available to consumers today and customers have responded by using
them more and more each day. The added convenience and ease of
transacting business without needing to come into a branch has
become so popular with customers that it has reduced usage of some
branch locations. Monessen has been temporarily closed since
mid-May due to the pandemic and limitations with the facility in a
socially distant environment. All employees will be retained and
relocated to one of our other locations. Customers of the Monessen
branch will continue to be served through our nearby Rostraver
branch, as well as the nearby Monongahela branch. Customers of the
Bethlehem branch will continue to be served through our nearby
Woodsdale branch, as well as the nearby Warwood branch. We remain
committed to superior customer service. At the same time, we
continue to develop an efficient branch network that will meet the
changing needs of our market area.”
About CB Financial Services, Inc.
CB Financial Services, Inc. is the bank holding company for
Community Bank, a Pennsylvania-chartered commercial bank. Community
Bank operates sixteen offices in Greene, Allegheny, Washington,
Fayette, and Westmoreland Counties in southwestern Pennsylvania,
seven offices in Brooke, Marshall, Ohio, Upshur and Wetzel Counties
in West Virginia, and one office in Belmont County in Ohio.
Community Bank offers a broad array of retail and commercial
lending and deposit services and provides commercial and personal
insurance brokerage services through Exchange Underwriters, Inc.,
its wholly owned subsidiary.
For more information about CB Financial Services, Inc. and
Community Bank, visit our website at www.communitybank.tv.
Contact: Barron P. McCune, Jr.President and Chief Executive
OfficerPhone: (724) 225-2400Fax: (724) 225-4903
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