CB retail delivery system plan unfolds.

JACKSON, Mich.--(BUSINESS WIRE)--Sept. 30, 1996--Steven W. Seely, President and Chief Operating Officer of CB Financial Corporation, announced the most recent implementation phase of a comprehensive retail delivery system strategic plan which includes optimization of financial centers, introduction of alternative banking services, together with a sales and service emphasis throughout the retail delivery system.

"Branch optimization is a common theme within the banking industry. External influences such as evolving customer needs, competitive pressures, cost concerns, and rapidly developing new technologies, are forcing banks to re-examine their market focus, resources, structure, and processes to strive for unprecedented change," said Seely.

CB Financial Corporation's strategic plan includes embellished services at selected financial centers through implementation of the "hub and spoke" system. A "hub" financial center offers all of the products and services typically found only at traditional main office locations, such as mortgage and investment services; while the "spoke" locations offer banking services customers need on a frequent basis, with specialized services offered by appointment at the customer's convenience. "The creation of several 'hub and spoke' satellites throughout the state increases the quality of service offered, as we have placed the appropriate product specialists closer to our customers," said Seely.

The establishment of "hub" financial centers for CB Financial Corporation subsidiaries are as follows: CB North - Charlevoix and Bellaire Financial Centers, City Bank - Egan Financial Center in St. Johns and Carriage Hills Financial Center in Lansing, City Bank and Trust Company - specific financial centers have yet to be selected. As a part of the financial center optimization, facility enhancements have been implemented in order to provide increased customer service and convenience. An ATM has been installed at CB North's Bellaire Financial Center; and at the West Saginaw Financial Center of City Bank. At City Bank and Trust Company a new drive-thru facility has been added to the East Michigan Financial Center including a drive-thru ATM. Based on the market research performed regarding branch optimization, a new financial center was opened on September 27, in the Okemos market of City Bank.

Bringing services closer to customers, while providing convenient access through a variety of delivery channels with a sales and service emphasis, has prompted the need to realign current staff, in addition to, the creation of several new positions. The following new positions have been created to either serve the customer directly in a sales capacity or to increase support to behind the scene areas providing service efficiencies:

City Bank and Trust Company Robert A. Setera, SVP, Financial Center Administration Jackson Patrick J. Peruchietti, Retail Market Manager II Jackson William E. Bruesch, Officer, Financial Center Manager II Jackson James W. Sykes III, Financial Center Manager II Jackson Michael D. Haley, Mortgage Originator Jackson Jason P. Hagle, Mortgage Originator Jackson Ron L. Philipp, Mortgage Underwriter Jackson

City Bank Heather K. Silkworth, Officer, Mortgage Originator Lansing/St. Johns Lori A. Burgess, Officer, Consumer Lender II Lansing/St. Johns Judy L. Williams, Mortgage Underwriter Lansing/St. Johns

CB North Thomas R. Lane, AVP, Retail Market Manager I Bellaire Curtis G. O'Neil, AVP, Regional Consumer Lending Manager Charlevoix Kathleen M. Meggision, Officer, Retail Market Manager I Charlevoix

Over the past year CB Financial Corporation, through the implementation of the retail system strategic plan, has reduced the number of subsidiary bank financial centers from 45 to 39. The reduction of financial centers is directly related to improved financial center optimization.

In today's society many customers prefer to perform transactions through a variety of methods such as loan by phone, ATMs, telephone banking, PC home or business banking, etc. Addressing these needs, CB Financial Corporation has introduced a new 24-hour automated phone system called "CB TeleBanc", which enables customers from all three subsidiary banks to perform selected transactions and to inquire on selected topics concerning their accounts. The "CB InfoCenter" is now available for state-wide customer use; providing one source for customers of CB Financial Corporation's subsidiary banks to call for information concerning their existing accounts or to inquire about new product or service offerings. The "CB InfoCenter" is staffed by experienced banking professionals, Monday through Friday from 8:00 a.m. to 6:00 p.m. By year end, the corporation will also introduce "CB PCbanc", whereby customers will be able to bank via their home computer systems, in addition to, an interactive web site on the Internet, which will provide product and rate information along with streamlined product applications. "All of the new products are designed for customer ease. Whether it is to transfer money between accounts at 1:00 a.m. with 'CB TeleBanc', or apply for a loan through the 'CB InfoCenter', or to verify account balances through 'CB PCbanc', customers will find transacting business with CB banks easier, more efficient and available when the customer chooses," said Seely.

CB Financial Corporation, with assets of $752.5 million, as of June 30, 1996, is the parent holding company for City Bank and Trust Company in Jackson, City Bank in Lansing/St. Johns and CB North in Charlevoix. CB Financial Corporation and its subsidiaries have 39 financial centers providing commercial, trust, and personal banking services in northwest and central Michigan.

CB Financial Corporation maintains a site on Business Wire's "Corporate News on the Net" service, providing detailed information on the corporation and its subsidiaries. The site name is CB Financial Corporation at http://www.businesswire.com on the World Wide Web.

CONTACT: CB Financial Corporation, Jackson

C. Sue Barron, Marketing Services, 517/788-2760