CB Financial Services, Inc. (CBFV) has reported 25.99 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $1.58 million, or $0.38 a share in the quarter, compared with $2.13 million, or $0.52 a share for the same period last year.

Revenue during the quarter dropped 6.13 percent to $8.35 million from $8.89 million in the previous year period. Net interest income for the quarter dropped 4.27 percent over the prior year period to $6.98 million. Non-interest income for the quarter fell 4.41 percent over the last year period to $1.82 million.

CB Financial Services, Inc. has made provision of $0.45 million for loan losses during the quarter, up 50 percent from $0.30 million in the same period last year.

Net interest margin contracted 15 basis points to 3.68 percent in the quarter from 3.83 percent in the last year period. Efficiency ratio for the quarter deteriorated to 70.08 percent from 63.75 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.

"We are pleased to report on our third quarter and YTD performance. The third quarter was somewhat weaker than prior quarters, due to the continuing impact of the soft local economy," said Barron P. McCune, Jr., vice chairman, president and chief executive officer.

Return on assets moved down 26 basis points to 0.76 percent in the quarter from 1.02 percent in the last year period. At the same time, return on equity decreased 290 basis points to 6.94 percent in the quarter from 9.84 percent in the last year period.

Meanwhile, nonperforming assets to total assets was 0.94 percent in the quarter.

Book value per share was $22.07 for the quarter.