Leadership & Pay ·
CB Financial Services, Inc.'s wholly owned subsidiary, Community Bank, entered into new employment agreements with CEO…
CBFVCB Financial Services, Inc.
CB Financial Services, Inc.'s wholly owned subsidiary, Community Bank, entered into new employment agreements with CEO John H. Montgomery and Senior EVP Bruce Sharp on August 24, 2026. The agreements have initial terms ending April 30, 2029, with automatic one-year extensions subject to Board approval. Base salaries are set at $495,000 for Montgomery and $294,500 for Sharp. Montgomery is eligible for a cash bonus equal to 20% of his base salary and annual equity grants valued at 20% of his base salary. The Bank also renewed a Split Dollar Life Insurance Agreement with Montgomery, providing up to $500,000 in death benefits through October 1, 2030. Qualifying terminations trigger severance payments equal to the greater of the remaining contract term or 12 months' salary, plus COBRA reimbursements. Change in control provisions provide for three times annual compensation as severance. CB Financial Services operates as a bank holding company providing financial services.