CB Financial Services, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net interest income was $7,505,000 compared to $7,191,000 a year ago. Income before income taxes was $2,879,000 compared to $2,432,000 a year ago. Net income was $2,022,000 or $0.49 per basic and diluted share compared to $1,757,000 or $0.43 per basic and diluted share a year ago. Return on average assets was 0.95% compared to 0.84% a year ago. Return on average equity was 8.92% compared to 8.00% a year ago.

For the full year, the company reported net interest income was $29,148,000 compared to $29,202,000 a year ago. Income before income taxes was $10,692,000 compared to $11,863,000 a year ago. Net income was $7,580,000 or $1.86 per basic and diluted share compared to $8,420,000 or $2.07 per basic and diluted share a year ago. Return on average assets was 0.91% compared to 1.01% a year ago. Return on average equity was 8.48% compared to 9.89% a year ago. Book value per share was $21.89 compared to $21.29 a year ago.

Net charge-offs for the three months ended December 31, 2016 were $103,000, which included $203,000 of net charge-offs on automobile loans, compared to $428,000 of net charge-offs for the three months ended December 31, 2015. The decrease in net charge-offs during the quarter were due to recoveries of $95,000 on a commercial real estate relationship and $38,000 on automobile loans.