[Executive Summary and Financial Highlights](index=1&type=section&id=Executive%20Summary%20and%20Financial%20Highlights) [Overall Performance](index=1&type=section&id=Overall%20Performance) Consolidated net income for Q2 and 6M 2025 significantly increased, driven by community and mortgage banking segments Consolidated Net Income and Earnings Per Share | Metric | Q2 2025 | Q2 2024 | YoY Change (%) | 6M 2025 | 6M 2024 | YoY Change (%) | | :--------------------------------- | :------ | :------ | :------------- | :------ | :------ | :------------- | | Consolidated net income (Millions USD) | $7.767 | $5.034 | 54.3% | $13.162 | $8.469 | 55.4% | | Earnings per share - basic and diluted | $2.37 | $1.50 | 58.0% | $4.03 | $2.50 | 61.2% | | Annualized return on average assets | 1.18% | 0.82% | 0.36 pp | 1.01% | 0.69% | 0.32 pp | | Annualized return on average equity | 13.06% | 9.31% | 3.75 pp | 11.23% | 7.82% | 3.41 pp | | Annualized return on average tangible common equity | 14.70% | 10.72% | 3.98 pp | 12.72% | 9.01% | 3.71 pp | - President and CEO Tom Cherry highlighted impressive loan and deposit growth in community banking, increased loan originations in mortgage banking, and progress in operational efficiency and technology investments in the consumer finance segment[2](index=2&type=chunk) - The Corporation is optimistic about the second half of the year, anticipating continued organic loan and deposit growth and benefiting from recent strategic expansion into Southwest Virginia, including key markets like Roanoke, Lynchburg, Danville, Martinsville, and Blacksburg[3](index=3&type=chunk) [Key Operational Highlights](index=1&type=section&id=Key%20Operational%20Highlights) Operational highlights include strong community banking loan and deposit growth, increased mortgage originations, and improved net interest margin - Community banking segment loans grew **$76.7 million**, or **10.6% annualized**, compared to December 31, 2024, and **$143.4 million**, or **10.3%**, compared to June 30, 2024[4](index=4&type=chunk) - Consumer finance segment loans decreased **$5.4 million**, or **2.3% annualized**, compared to December 31, 2024, and **$17.0 million**, or **3.5%**, compared to June 30, 2024[4](index=4&type=chunk) - Deposits increased **$85.5 million**, or **7.9% annualized**, compared to December 31, 2024, and **$150.3 million**, or **7.1%**, compared to June 30, 2024[4](index=4&type=chunk) - Consolidated annualized net interest margin was **4.27%** for the second quarter of 2025, compared to **4.12%** for the second quarter of 2024 and **4.16%** in the first quarter of 2025[4](index=4&type=chunk) - Mortgage banking segment loan originations increased **$67.5 million**, or **46.2%**, to **$213.5 million** for the second quarter of 2025 compared to the second quarter of 2024, and increased **$99.8 million**, or **87.7%**, compared to the first quarter of 2025[8](index=8&type=chunk) [Segment Performance Review](index=2&type=section&id=Segment%20Performance%20Review) [Community Banking Segment](index=2&type=section&id=Community%20Banking%20Segment) The community banking segment saw substantial net income growth, driven by increased average loans and deposits, higher interest-earning asset yields, and a net reversal of provision for credit losses Community Banking Segment Performance (Millions USD) | Metric | Q2 2025 | Q2 2024 | 6M 2025 | 6M 2024 | | :--------------------------------- | :------ | :------ | :------ | :------ | | Net income | $7.1 | $4.6 | $12.6 | $8.6 | | Provision for credit losses | ($0.3) | $0.45 | ($0.2) | $0.95 | - Average loans increased **$139.6 million (10.3%)** for Q2 2025 and **$152.5 million (11.5%)** for 6M 2025 compared to the same periods in 2024, primarily due to growth in construction, construction real estate, and land acquisition and development[5](index=5&type=chunk) - Average deposits increased **$156.9 million (7.6%)** for Q2 2025 and **$144.4 million (7.0%)** for 6M 2025 compared to the same periods in 2024, mainly due to higher balances of time deposits, noninterest-bearing demand deposits, and saving and money market accounts[5](index=5&type=chunk) - Nonaccrual loans were **$1.1 million** at June 30, 2025, up from **$0.333 million** at December 31, 2024, primarily due to the downgrade of one residential mortgage relationship. The allowance for credit losses decreased to **1.12%** of total loans from **1.20%**[7](index=7&type=chunk)[9](index=9&type=chunk) [Mortgage Banking Segment](index=3&type=section&id=Mortgage%20Banking%20Segment) The mortgage banking segment reported significant net income and loan origination increases, despite sustained elevated mortgage interest rates, higher home prices, and low inventory Mortgage Banking Segment Performance (Millions USD) | Metric | Q2 2025 | Q2 2024 | 6M 2025 | 6M 2024 | | :--------------------------------- | :------ | :------ | :------ | :------ | | Net income | $0.985 | $0.376 | $1.4 | $0.67 | - Mortgage loan originations increased **46.2%** for Q2 2025 and **36.2%** for 6M 2025 compared to the same periods in 2024, reaching **$213.5 million** in Q2 2025 (comprised of **$197.2 million** home purchases and **$16.3 million** refinancings)[10](index=10&type=chunk) - The segment recorded a reversal of provision for indemnification losses of **$35,000** for Q2 2025 and **$60,000** for 6M 2025, compared to **$135,000** and **$275,000** in the same periods of 2024, with the decrease in reversals attributed to increased mortgage loan originations in 2025[11](index=11&type=chunk) [Consumer Finance Segment](index=3&type=section&id=Consumer%20Finance%20Segment) The consumer finance segment experienced a decrease in net income, primarily due to lower average loan balances and higher provision for credit losses driven by increased net charge-offs Consumer Finance Segment Performance (Millions USD) | Metric | Q2 2025 | Q2 2024 | 6M 2025 | 6M 2024 | | :--------------------------------- | :------ | :------ | :------ | :------ | | Net income | $0.539 | $0.894 | $0.765 | $0.831 | | Provision for credit losses | $2.4 | $2.1 | $5.3 | $5.1 | - Average loans decreased **$14.1 million (2.9%)** for Q2 2025 and **$11.2 million (2.4%)** for 6M 2025 compared to the same periods in 2024[12](index=12&type=chunk) - Net charge-offs at an annualized rate were **2.42%** of average total loans for 6M 2025, up from **2.21%** for 6M 2024, primarily due to an increase in delinquent loans, repossessions, and the average amount charged-off[15](index=15&type=chunk) - Total delinquent loans as a percentage of total loans was **3.81%** at June 30, 2025, compared to **3.90%** at December 31, 2024, and **3.51%** at June 30, 2024. Average payment deferrals of automobile loans increased to **1.73%** for Q2 2025 from **1.58%** in Q2 2024[15](index=15&type=chunk)[16](index=16&type=chunk) [Financial Management and Corporate Information](index=4&type=section&id=Financial%20Management%20and%20Corporate%20Information) [Liquidity](index=4&type=section&id=Liquidity) The Corporation maintains strong liquidity, with liquid assets and borrowing availability exceeding uninsured deposits - Uninsured deposits were approximately **$677.7 million (30.0% of total deposits)** at June 30, 2025. Excluding intercompany cash holdings and secured municipal deposits, uninsured amounts were **$536.1 million (23.8% of total deposits)**[17](index=17&type=chunk) - Liquid assets (**$373.7 million**) and borrowing availability (**$576.4 million**) at June 30, 2025, together exceeded uninsured deposits (excluding certain items) by **$414.0 million**[17](index=17&

Financial Performance - C&F Financial Corporation reported consolidated net income of $7.8 million for Q2 2025, a 54.3% increase from $5.0 million in Q2 2024 [1] - For the first six months of 2025, consolidated net income was $13.2 million, up 55.4% from $8.5 million in the same period of 2024 [1] - Earnings per share for Q2 2025 were $2.37, compared to $1.50 in Q2 2024, and for the first six months, it was $4.03 versus $2.50 in 2024 [1] Segment Performance - The community banking segment saw loans grow by $76.7 million (10.6% annualized) in Q2 2025 and $143.4 million (10.3%) compared to June 30, 2024 [4] - The mortgage banking segment reported net income of $985,000 for Q2 2025, up from $376,000 in Q2 2024, with loan originations increasing by $67.5 million (46.2%) [8][9] - The consumer finance segment's net income was $539,000 for Q2 2025, down from $894,000 in Q2 2024, with average loans decreasing by $14.1 million (2.9%) [11] Asset Quality and Credit Losses - The community banking segment recorded a net reversal of provision for credit losses of $300,000 in Q2 2025, compared to a provision of $450,000 in Q2 2024 [4][7] - The consumer finance segment had a provision for credit losses of $2.4 million in Q2 2025, up from $2.1 million in Q2 2024 [11] - Nonaccrual loans in the community banking segment increased to $1.1 million as of June 30, 2025, from $333,000 at December 31, 2024 [7] Liquidity and Capital - As of June 30, 2025, the Corporation's uninsured deposits were approximately $677.7 million, or 30.0% of total deposits [15] - Total equity increased by $13.9 million at June 30, 2025, compared to December 31, 2024, primarily due to net income and lower unrealized losses in securities [19] - The Corporation declared a quarterly cash dividend of 46 cents per share, representing a payout ratio of 19.4% for Q2 2025 [18] Market Position and Strategy - The Corporation is optimistic about continued organic loan and deposit growth, particularly following its expansion into Southwest Virginia [3] - The community banking segment's average loans increased by $139.6 million (10.3%) for Q2 2025, driven by growth in construction and real estate loans [5] - The Corporation's share repurchase program authorized up to $5.0 million of common stock, but no repurchases were made in Q2 2025 [22]

Core Insights - C&F Financial Corporation is expanding its commercial banking operations in Southwest Virginia, targeting key markets such as Roanoke, Lynchburg, Danville, Martinsville, and Blacksburg [1][2] Group 1: Leadership and Team - Matt Hubbard has been appointed as the Southwest Virginia Regional President, bringing over 15 years of commercial banking experience from Atlantic Union Bank [2] - Sally Siveroni, with a banking career starting in 1986, joins as Commercial Credit Officer, previously serving as Regional Credit Officer at Atlantic Union Bank [3] - James Little, a Commercial Banking Relationship Manager with 17 years of experience, also joins the team, emphasizing community involvement [3] Group 2: Strategic Positioning - This expansion positions C&F as a premier community bank in Virginia, enhancing its competitive strength and strategic vision [2] - The company operates 31 banking offices and five commercial loan offices across Virginia, offering a range of financial services [5]

Core Points - C&F Financial Corporation has declared a regular cash dividend of 46 cents per share, payable on July 1, 2025, to shareholders of record on June 13, 2025 [1] - The Board of Directors regularly reviews the cash dividend amount and payout ratio based on economic conditions, capital requirements, and expected future earnings [2] Company Overview - C&F Bank operates 31 banking offices and four commercial loan offices in eastern and central Virginia, offering full wealth management services through its subsidiary C&F Wealth Management, Inc. [3] - C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services in Virginia and surrounding states [3] - C&F Finance Company is a regional finance company that purchases automobile, marine, and recreational vehicle loans primarily in the Mid-Atlantic, Midwest, and Southern United States [3]

Financial Performance - Consolidated net income for Q1 2025 increased by $2.0 million to $5.395 million compared to $3.435 million in Q1 2024, driven by higher net income across all business segments [131]. - Earnings per share for Q1 2025 rose to $1.66, up from $1.01 in Q1 2024, reflecting a significant increase in profitability [130]. - Annualized return on average equity improved to 9.35% in Q1 2025, compared to 6.33% in Q1 2024 [130]. - Total equity increased by $8.3 million to $235.3 million as of March 31, 2025, compared to $227.0 million at December 31, 2024 [134]. - The effective income tax rate increased to 17.3% in Q1 2025 from 14.1% in Q1 2024, mainly due to a lower share of income at the community banking segment [163]. - The Corporation's net tangible income attributable for the quarter ended March 31, 2025, was $5.430 million, compared to $3.466 million for the same period in 2024 [271]. Loan and Deposit Growth - Community banking segment loans grew by $27.6 million, or 7.6% annualized, while consumer finance segment loans decreased by $4.7 million, or 4.0% annualized [137]. - Average loans increased by $160.2 million to $1.95 billion in Q1 2025, with the community banking segment seeing a 12.7% increase, primarily driven by growth in construction and commercial real estate loans [149]. - Total loans increased to $1.94 billion as of March 31, 2025, up from $1.92 billion at December 31, 2024, representing a growth of approximately 0.7% [213]. - Deposits increased by $45.8 million to $2.22 billion during the first quarter of 2025, with noninterest-bearing demand deposits rising by $53.6 million [246]. Interest Income and Margin - Net interest income for Q1 2025 increased to $25.3 million, up from $23.4 million in Q1 2024, primarily due to a higher net interest margin and increased average earning assets [148]. - Consolidated annualized net interest margin was 4.16% for Q1 2025, up from 4.09% in Q1 2024 [137]. - The annualized net interest margin rose by 7 basis points to 4.16% in Q1 2025 compared to the same period in 2024, attributed to a change in the mix of earning assets and higher yields [148]. - The community banking segment's average loan yield increased by 17 basis points to 5.52% in Q1 2025, driven by a shift towards higher yielding loans [150]. Noninterest Income and Expenses - Total noninterest income increased by $81,000, or 1.1%, in Q1 2025, driven by higher mortgage loan production and increased service charges [158]. - Total noninterest expenses decreased by $91,000, or less than one percent, in Q1 2025 compared to Q1 2024, primarily due to fluctuations in deferred compensation liabilities and lower employee benefits from reduced headcount [161]. Credit Quality and Losses - The provision for credit losses in Q1 2025 was $2.9 million, slightly down from $3.0 million in Q1 2024, attributed to lower average loan balances and an increase in net charge-offs [188]. - The allowance for credit losses as of March 31, 2025, was $40.043 million, a slight decrease from $40.087 million at the end of 2024 [202]. - The consumer finance segment's net charge-offs increased due to higher delinquent loans and repossessions, indicating potential future increases in the provision for credit losses if loan performance deteriorates [189]. - The community banking segment recorded a provision for credit losses of $100,000 for Q1 2025, down from $500,000 in the same period of 2024, indicating improved credit quality [217]. Capital and Liquidity - The Corporation's total risk-based capital ratio was 14.1% as of March 31, 2025, exceeding the minimum requirement of 8.0% [263]. - The Bank's Tier 1 risk-based capital ratio was 12.4% as of March 31, 2025, well above the minimum requirement of 6.0% [263]. - The Corporation's liquid assets totaled $315.0 million as of March 31, 2025, up from $288.1 million at December 31, 2024 [251]. - The Corporation's capacity for borrowings decreased by $7.5 million from December 31, 2024, primarily due to fluctuations in loans pledged to the FHLB [251]. Shareholder Returns - The Board of Directors declared a quarterly cash dividend of $0.46 per share, representing a payout ratio of 27.7% of earnings for Q1 2025 [135]. - The Corporation authorized a share repurchase program of up to $5.0 million effective from January 1, 2025, through December 31, 2025 [267]. - The Corporation's capital resources are influenced by its share repurchase programs, which aim to enhance shareholder returns [267]. Interest Rate Risk Management - The Corporation utilizes interest rate swaps to manage interest rate risk, converting variable rates to fixed rates for certain capital notes [291]. - The mortgage banking segment mitigates interest rate risk by entering into forward sales contracts with investors at the time interest rates are locked for loans [292]. - The Asset/Liability Committee meets quarterly to maximize net interest income while managing interest rate risk [280].

Financial Performance - Consolidated net income for Q1 2025 was $5.4 million, up from $3.4 million in Q1 2024, representing a 58.8% increase[2] - Earnings per share increased to $1.66 in Q1 2025 from $1.01 in Q1 2024, reflecting a 64.4% rise[2] - The net income for the quarter ended March 31, 2025, was $5,395,000, compared to $3,435,000 for the same period in 2024, reflecting a year-over-year increase of approximately 57.1%[32] - Interest income for the quarter was $35,988,000, up from $32,708,000 in the prior year, indicating an increase of about 10.4%[32] - The company reported a net interest income of $25,298,000 for the quarter, compared to $23,443,000 in the same quarter of the previous year, reflecting an increase of approximately 7.9%[32] - Earnings per share (EPS) rose to $1.66, up from $1.01 in the same quarter last year, marking a significant increase of 64.4%[35] Loan and Deposit Growth - Community banking segment loans grew by $27.6 million, or 7.6% annualized, and $139.9 million, or 10.4% year-over-year[4] - Consumer finance segment loans decreased by $4.7 million, or 4.0% annualized, and $14.0 million, or 2.9% year-over-year[4] - Mortgage banking segment loan originations rose by $19.5 million, or 20.6%, to $113.8 million compared to Q1 2024[5] - Total loans reached $1,954,049 million, a 9.0% increase from $1,793,808 million in the previous year[34] - The total deposits as of March 31, 2025, were $2,216,654,000, up from $2,170,860,000 at the end of 2024, indicating a growth of about 2.1%[32] - Deposits increased by $45.8 million, or 8.4% annualized, and $128.7 million, or 6.2% year-over-year[4] Asset and Equity Growth - As of March 31, 2025, the total assets of C&F Financial Corporation were $2,612,530,000, an increase from $2,563,374,000 at December 31, 2024, representing a growth of approximately 1.9%[32] - Total consolidated equity increased by $8.3 million at March 31, 2025, compared to December 31, 2024[20] - Total equity as of March 31, 2025, was $235,271,000, an increase from $226,970,000 at the end of 2024, marking a growth of approximately 3.3%[32] - The tangible book value per share was reported at $64.39, while the book value per share was $72.51 as of March 31, 2025[23] Credit Quality and Losses - The allowance for credit losses was $22.5 million at March 31, 2025, representing 4.88% of total loans[14] - The provision for credit losses in the Community Banking segment was $100,000, down from $500,000 in the previous year, while the Consumer Finance segment's provision was $2,900,000, down from $3,000,000[32] - The allowance for credit losses (ACL) to total loans ratio was 1.18% as of March 31, 2025, slightly down from 1.20% a year prior[35] - Nonaccrual loans to total loans ratio increased to 0.08% from 0.02%, indicating a rise in asset quality concerns[35] Dividends and Returns - The Corporation increased its quarterly cash dividend by 5% to $0.46 per share, with a payout ratio of 27.7%[19] - The annualized return on average equity improved to 9.35% in Q1 2025 from 6.33% in Q1 2024[2] - The annualized return on average assets improved to 0.84% from 0.57% year-over-year[35] - The total risk-based capital ratio for C&F Financial Corporation remained stable at 14.1% as of March 31, 2025, consistent with the previous quarter[37] - The price to earnings ratio (ttm) decreased to 11.16 from 11.86, indicating a slight decline in market valuation relative to earnings[37] Company Overview - C&F Financial Corporation operates 31 banking offices and four commercial loan offices, providing a range of financial services across eastern and central Virginia[24] - C&F Financial Corporation emphasizes the use of non-GAAP financial measures to provide a clearer picture of its operating performance, including adjusted net income and adjusted return on average equity[26]

Core Viewpoint - C&F Financial Corporation reported a consolidated net income of $5.4 million for Q1 2025, a significant increase from $3.4 million in Q1 2024, driven by growth in various business segments and improved efficiency [1][2]. Financial Performance Highlights - Consolidated net income increased to $5.4 million in Q1 2025 from $3.4 million in Q1 2024 [1]. - Earnings per share rose to $1.66 from $1.01 year-over-year [1]. - Annualized return on average equity improved to 9.35% from 6.33% [1]. - Annualized return on average tangible common equity increased to 10.65% from 7.30% [1]. - Annualized return on average assets rose to 0.84% from 0.57% [1]. Segment Performance Community Banking Segment - Net income for the community banking segment was $5.4 million in Q1 2025, up from $4.0 million in Q1 2024 [3]. - Loans in the community banking segment grew by $27.6 million, or 7.6% annualized, compared to Q4 2024 [3]. - Deposits increased by $45.8 million, or 8.4% annualized, compared to Q4 2024 [3]. - The annualized net interest margin for the community banking segment was 4.16% in Q1 2025, slightly up from 4.09% in Q1 2024 [3]. Mortgage Banking Segment - The mortgage banking segment reported net income of $431,000 for Q1 2025, compared to $294,000 in Q1 2024 [7]. - Mortgage loan originations increased by $19.5 million, or 20.6%, to $113.8 million in Q1 2025 compared to Q1 2024 [7]. - Loan originations decreased by $16.7 million, or 12.8%, compared to Q4 2024 [7]. Consumer Finance Segment - The consumer finance segment reported net income of $226,000 for Q1 2025, compared to a net loss of $63,000 in Q1 2024 [11]. - Average loans decreased by $8.3 million, or 1.8%, compared to Q1 2024 [11]. - The allowance for credit losses was $22.5 million at March 31, 2025, compared to $22.7 million at December 31, 2024 [12]. Liquidity and Capital Management - As of March 31, 2025, the Corporation's uninsured deposits were approximately $644.4 million, or 29.1% of total deposits [13]. - Total equity increased by $8.3 million at March 31, 2025, compared to December 31, 2024, primarily due to net income and lower unrealized losses in securities [18]. - The Corporation's total risk-based capital ratio was 14.1% as of March 31, 2025, exceeding the minimum requirement of 8.0% [36]. Dividend and Stock Repurchase - The Corporation increased its quarterly cash dividend by 5% to $0.46 per share, representing a payout ratio of 27.7% of earnings per share for Q1 2025 [16]. - No repurchases of common stock were made under the 2025 Repurchase Program during Q1 2025 [20].

Financial Performance - Consolidated net income for 2024 was $19.9 million, down from $23.7 million in 2023, with earnings per share decreasing from $6.92 to $6.01[222] - Adjusted net income for 2024 was $20.0 million, compared to $23.7 million in 2023[222] - Community banking segment net income for the year ended December 31, 2024, was $20.3 million, a decrease from $22.9 million in 2023[280] - The consumer finance segment reported net income of $1.4 million for the year ended December 31, 2024, down from $2.9 million in 2023, primarily due to higher provision for credit losses[300] - Mortgage banking segment net income increased to $1.1 million for the year ended December 31, 2024, from $465,000 in 2023[288] Loan Growth - Total loans increased to $1,885,643 thousand in 2024, up from $1,713,626 thousand in 2023, reflecting a growth of approximately 10%[249] - Community banking segment loans grew by $180.0 million, or 14.1%, to $1.5 billion at December 31, 2024, compared to $1.3 billion at December 31, 2023[282] - Average loans increased by $172.0 million to $1.89 billion in 2024, with community banking segment loans rising by $164.0 million, or 13.5%[257] - The average loans for the commercial segment were $1,010,121 thousand in 2024, an increase from $879,608 thousand in 2023, representing a growth of 14.8%[320] - Total loans held for investment reached $1.88 billion, with loans held for sale valued at $20.1 million as of December 31, 2024[360] Credit Loss Provisions - The consumer finance segment provision for credit losses increased to $11.6 million from $6.7 million[228] - The provision for credit losses on loans was $13,100 thousand for the year ended December 31, 2024, compared to $8,126 thousand in 2023, indicating a significant increase of 61.5%[334] - The provision for credit losses in the community banking segment was $1.7 million for 2024, compared to $1.6 million in 2023, reflecting growth in the loan portfolio[283] - Management believes the allowance for credit losses is adequate, but further deterioration in loan performance may lead to increased provisions in the future[302] - The total allowance for credit losses increased to $40,087 thousand as of December 31, 2024, up from $39,651 thousand in 2023, reflecting a provision charged to operations of $13,100 thousand[320] Interest Income and Margin - The net interest income for the year ended December 31, 2024, was $97,922 thousand, compared to $98,671 thousand in 2023, indicating a slight decrease[249] - The consolidated net interest margin decreased to 4.12% from 4.31%[228] - The yield on total loans for 2024 was 6.75%, an increase from 6.49% in 2023[249] - The average yield on interest-bearing deposits increased by 99 basis points to 2.42% for 2024, compared to 1.43% in 2023[262] - Net interest income after provision for credit losses for the consumer finance segment was $14.4 million in 2024, down from $17.8 million in 2023[298] Asset and Equity Growth - Total equity increased to $227.0 million at December 31, 2024, compared to $217.5 million at December 31, 2023[226] - The corporation's total assets reached $2,494,496 thousand in 2024, an increase from $2,393,497 thousand in 2023, indicating overall growth[249] - Total assets increased to $2.56 billion as of December 31, 2024, compared to $2.44 billion in 2023, primarily due to growth in loans held for investment[359] - The average balance of total earning assets increased to $2,378,506 thousand in 2024 from $2,285,878 thousand in 2023, marking a growth of approximately 4%[249] - The average balance of interest-bearing deposits rose to $1,572,128 thousand in 2024, compared to $1,422,529 thousand in 2023, representing an increase of about 10.5%[249] Noninterest Income and Expenses - Total noninterest income increased by $923,000, or 3.1%, for 2024, driven by higher wealth management services income and mortgage loan production[267] - Total noninterest expense rose by $47,000, or less than 1%, for 2024, attributed to higher professional fees and data processing expenses[273] - Noninterest income for the consumer finance segment was $1.0 million in 2024, slightly up from $962,000 in 2023[298] - Noninterest expenses for the community banking segment totaled $62.9 million for 2024, compared to $60.8 million in 2023[279] - Total noninterest expenses decreased to $13.5 million in 2024 from $14.8 million in 2023, reflecting efforts to reduce overhead costs[298] Regulatory and Economic Environment - Economic and regulatory uncertainties are expected to continue in 2025, impacting interest rate movements and overall business performance[235] - The corporation's credit policy emphasizes maintaining acceptable asset quality alongside loan growth, with a focus on risk management and underwriting standards[367] - The maximum loan-to-value ratio for commercial real estate loans is typically 80%, with exceptions for strong borrowers[370] Deposits and Borrowings - Deposits increased by $104.7 million to $2.17 billion at December 31, 2024, compared to $2.07 billion at December 31, 2023[403] - Borrowings increased to $122.6 million at December 31, 2024, up from $109.5 million at December 31, 2023, primarily due to higher long-term borrowings from the FHLB[410] - The average balance of certificates of deposit increased to $767.7 million in 2024, with an average rate of 4.10%[406] - The corporation had $25.0 million in brokered deposits outstanding at both December 31, 2024, and December 31, 2023[405] - The total contract amount of standby letters of credit rose to $18.8 million at December 31, 2024, from $7.9 million at December 31, 2023, reflecting a significant increase of 137.9%[414]

Core Points - C&F Financial Corporation has declared a regular cash dividend of 46 cents per share, which is a 5 percent increase from the previous quarter's dividend of 44 cents per share [1] - The dividend is payable on April 1, 2025, to shareholders of record on March 14, 2025 [1] - The Board of Directors regularly reviews the cash dividends per share and the dividend payout ratio based on economic conditions, capital requirements, and expected future earnings [2] Company Overview - C&F Bank operates 31 banking offices and four commercial loan offices in eastern and central Virginia, offering full wealth management services through its subsidiary C&F Wealth Management, Inc. [3] - C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services in Virginia and surrounding states [3] - C&F Finance Company is a regional finance company that purchases automobile, marine, and recreational vehicle loans primarily in the Mid-Atlantic, Midwest, and Southern United States [3]

Core Viewpoint - C&F Financial Corporation has declared a regular cash dividend of 46 cents per share, marking a 5 percent increase from the previous quarter's dividend of 44 cents per share, with payment scheduled for April 1, 2025 [1]. Group 1: Dividend Information - The board of directors has approved a cash dividend of 46 cents per share, payable on April 1, 2025, to shareholders of record on March 14, 2025 [1]. - This dividend reflects a 5 percent increase compared to the prior quarter's dividend of 44 cents per share [1]. Group 2: Company Overview - C&F Bank operates 31 banking offices and four commercial loan offices across eastern and central Virginia, providing full wealth management services through its subsidiary, C&F Wealth Management, Inc. [2]. - C&F Mortgage Corporation and its subsidiary, C&F Select LLC, offer mortgage loan origination services in Virginia and surrounding states [2]. - C&F Finance Company specializes in purchasing automobile, marine, and recreational vehicle loans primarily in the Mid-Atlantic, Midwest, and Southern United States from its headquarters in Henrico, Virginia [2].