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CB Financial Services, Inc. and FedFirst Financial Corporation Announce Receipt of Regulatory Approvals for Pending Merger

CARMICHAELS, Pa. and MONESSEN, Pa., Sept. 15, 2014 (GLOBE NEWSWIRE) -- CB Financial Services, Inc. ("CB") (OTCQB:CBFV), the Carmichaels-based holding company for Community Bank, and FedFirst Financial Corporation ("FedFirst") (Nasdaq:FFCO), the Monessen-based holding company for First Federal Savings Bank, announced today that they have received approval from both the Federal Deposit Insurance Corporation and the Pennsylvania Department of Banking and Securities to complete the pending merger of their subsidiary banks, which, when completed, will result in First Federal Savings Bank merging with and into Community Bank. CB has filed a waiver request with the Federal Reserve Board requesting that it waive its application requirements with respect to the proposed merger of FedFirst with and into CB. Action on the waiver request is pending.

FedFirst's stockholders are scheduled to vote on the proposed transaction at a special meeting of stockholders on September 26, 2014. Subject to the receipt of their approval and the waiver from the Federal Reserve Board and the satisfaction of other closing conditions, the transaction is expected to be completed on or about October 31, 2014.

Additional Information About the Merger and Where to Find It

CB Financial Services, Inc. has filed a registration statement with the Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended. The registration statement includes a proxy statement/prospectus and other relevant documents in connection with the proposed merger. FEDFIRST STOCKHOLDERS ARE ADVISED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION.

The proxy statement/prospectus and other relevant materials filed with the SEC may be obtained free of charge at the SEC's website (www.sec.gov). In addition, investors and security holders may obtain free copies of the documents CB files with the SEC by contacting Barron P. "Pat" McCune, Jr., CB Financial Services, Inc., 90 West Chestnut Street, Suite 100, Washington, PA 15301 and free copies of the documents FedFirst files with the SEC by contacting Patrick G. O'Brien, FedFirst Financial Corporation, 565 Donner Street, Monessen, PA 15062.

FedFirst and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from FedFirst stockholders in connection with the proposed merger. Information concerning such participants' ownership of shares of FedFirst common stock is set forth in the definitive proxy statement/prospectus filed with the SEC on August 18, 2014.

This press release does not constitute an offer of any securities for sale. The shares of common stock of CB are not savings or deposit accounts and are not insured by the Federal Deposit Insurance Corporation or any other government agency.

About CB Financial Services, Inc.

CB Financial Services, Inc. is the bank holding company for Community Bank, a Pennsylvania-chartered commercial bank. Community Bank operates eleven offices in Greene, Allegheny and Washington Counties in southwestern Pennsylvania.

About FedFirst Financial Corporation

FedFirst Financial Corporation is the parent company of First Federal Savings Bank, a community-oriented financial institution operating seven full-service branch locations in southwestern Pennsylvania. First Federal offers a broad array of retail and commercial lending and deposit services and provides commercial and personal insurance services through Exchange Underwriters, Inc., its 80% owned subsidiary.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act relating to the proposed merger. Forward-looking statements are typically identified by words such as "believe", "plan", "expect", "anticipate", "intend", "outlook", "estimate", "forecast", "will", "should", "project", "goal", and other similar words and expressions. These forward-looking statements involve certain risks and uncertainties. Among the factors that could cause actual results to differ materially from forward-looking statements or historical performance are the ability to meet the closing conditions to the proposed merger, including approval by FedFirst's stockholders, on the expected terms and schedule; delay in closing the merger; difficulties and delays in integrating the respective businesses of CB and FedFirst or fully realizing expected cost savings and other benefits; business disruption following the merger; changes in interest rates and capital markets; inflation; customer acceptance of CB products and services; competitive conditions; and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms. CB and FedFirst undertake no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

CONTACT: CB Financial Services, Inc. Barron P. "Pat" McCune, Jr. President and Chief Executive Officer (724) 225-2400 FedFirst Financial Corporation Patrick G. O'Brien President and Chief Executive Officer (724) 684-6800

Source:FedFirst Financial Corporation;CB Financial Services, Inc.