CB Financial Services, Inc. Income Taxes Disclosure
| Year Ended December 31, | 2025 | 2024 | |||||||||
| (Dollars in Thousands) | |||||||||||
| Current Tax Provision: | |||||||||||
| Federal | $ | 445 | $ | 2,505 | |||||||
| State | 17 | 53 | |||||||||
| Total Current Tax Provision | $ | 462 | $ | 2,558 | |||||||
| Deferred Tax Provision (Benefit): | |||||||||||
| Federal | $ | (63) | $ | 185 | |||||||
| State | (2) | 6 | |||||||||
| Total Deferred Tax Provision (Benefit) | $ | (65) | $ | 191 | |||||||
| Total Provision | $ | 397 | $ | 2,749 | |||||||
| December 31, | 2025 | 2024 | |||||||||
| (Dollars in Thousands) | |||||||||||
| Deferred Tax Assets: | |||||||||||
| Allowance for Credit Losses | $ | 2,326 | $ | 2,233 | |||||||
| Nonaccrual Loan Interest | 32 | 53 | |||||||||
| Purchase Accounting Adjustments | 241 | 289 | |||||||||
| Postretirement Benefits | 13 | 16 | |||||||||
| Net Unrealized Loss on Debt Securities | 924 | 4,666 | |||||||||
| Net Unrealized Loss on Equity Securities | 19 | 11 | |||||||||
| Stock-Based Compensation Expense | 113 | 109 | |||||||||
| Accrued Payroll | 59 | 107 | |||||||||
| Lease Liability | 558 | 607 | |||||||||
| Restructuring Costs | 88 | 88 | |||||||||
| Other | 45 | 93 | |||||||||
| Gross Deferred Tax Assets | 4,418 | 8,272 | |||||||||
| Deferred Tax Liabilities: | |||||||||||
| Amortization of Intangibles | 73 | 73 | |||||||||
| Deferred Origination Fees and Costs | 318 | 306 | |||||||||
| Discount Accretion | 5 | 69 | |||||||||
| Depreciation | 1,959 | 2,030 | |||||||||
| Mortgage Servicing Rights | 89 | 99 | |||||||||
| ROU Asset | 542 | 587 | |||||||||
| Other | 1 | — | |||||||||
| Gross Deferred Tax Liabilities | 2,987 | 3,164 | |||||||||
| Net Deferred Tax Assets | $ | 1,431 | $ | 5,108 | |||||||
| 2025 | 2024 | ||||||||||||||||||||||
| Year Ended December 31, | Amount | Percent of Pre-tax Income | Amount | Percent of Pre-tax Income | |||||||||||||||||||
| (Dollars in Thousands) | |||||||||||||||||||||||
| Provision at Statutory Rate | $ | 1,113 | 21.0 | % | $ | 3,222 | 21.0 | % | |||||||||||||||
State Taxes (Net of Federal Benefit)(1) | 12 | 0.2 | 47 | 0.3 | |||||||||||||||||||
| Tax Credits - Low Income Housing | (150) | (2.8) | (27) | (0.2) | |||||||||||||||||||
| Nontaxable or Nondeductible Items: | |||||||||||||||||||||||
| Tax-Exempt Interest Revenue | (485) | (9.1) | (282) | (1.8) | |||||||||||||||||||
| Bank-Owned Life Insurance | (127) | (2.4) | (317) | (2.1) | |||||||||||||||||||
| Losses from Tax Credit Partnerships | (59) | (1.1) | (44) | (0.3) | |||||||||||||||||||
| Nondeductible Interest Expense | 86 | 1.6 | 30 | 0.2 | |||||||||||||||||||
| Stock Options - ISO Disqualifying Dispositions | (112) | (2.1) | (18) | (0.1) | |||||||||||||||||||
| Excess Tax Benefits from Equity Awards | (79) | (1.5) | (31) | (0.2) | |||||||||||||||||||
| Other | 63 | 1.1 | 114 | 0.7 | |||||||||||||||||||
| Other Items: | |||||||||||||||||||||||
| Proportional Amortization of Tax Credit Investments | 135 | 2.6 | 55 | 0.4 | |||||||||||||||||||
| Actual Tax Expense and Effective Rate | $ | 397 | 7.5 | % | $ | 2,749 | 17.9 | % | |||||||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 13, 2026 | Showing above |
| 2024 | Mar 19, 2025 | |
| 2023 | Mar 13, 2024 | |
| 2022 | Mar 10, 2023 | |
| 2021 | Mar 11, 2022 | |
| 2020 | Mar 17, 2021 | |
| 2019 | Mar 11, 2020 | |
| 2018 | Mar 18, 2019 | |
| 2017 | Mar 28, 2018 | |
| 2016 | Mar 13, 2017 | |
| 2015 | Mar 14, 2016 | |
About Income Taxes Disclosures
The income tax disclosure reveals how much a company actually pays in taxes versus what the statutory rate would predict. Analysts focus on the effective tax rate (ETR) reconciliation, which breaks down every item driving the gap between the 21% federal rate and the company's reported ETR — including R&D credits, foreign rate differentials, and state taxes. Deferred tax assets (DTAs) and their valuation allowances signal management's confidence in future profitability: a rising allowance suggests the company doubts it can use accumulated tax benefits. Uncertain tax benefit (UTB) reserves quantify exposure to IRS challenges on aggressive positions.
Key signals to watch: sudden ETR drops without clear operational reasons, large increases in valuation allowances, growing UTB balances, and significant unremitted foreign earnings. Post-TCJA, pay attention to GILTI and BEAT provisions that affect multinational tax structures. Compare the cash taxes paid (from the cash flow statement) against the income tax provision to gauge earnings quality.