TOANO, Va., April 19, 2024 (GLOBE NEWSWIRE) -- C&F Financial Corporation (the Corporation) (NASDAQ:CFFI), the holding company for C&F Bank, today reported consolidated net income of $3.4 million for the first quarter of 2024, compared to $6.5 million for the first quarter of 2023. The following table presents selected financial performance highlights for the periods indicated:   For The Quarter Ended Consolidated Financial Highlights (unaudited) 3/31/2024  3/31/2023 Consolidated net income (000's) $3,435  $ ...

Table of Contents | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------|-------|-----------------|--------------|--------------------|------------| | (Dollars in thousands, except per share amounts) \nInterest income | | Year 2023 | Ended 2022 | December 31, | 2021 | | | | | | | | | Interest and fees on loans Interest on interest-bearing deposits and federal funds sold | $ | 110,938 1,245 | $ | 90,833 $ 1,278 ...

TOANO, Va., Jan. 24, 2024 (GLOBE NEWSWIRE) -- C&F Financial Corporation (the Corporation) (NASDAQ:CFFI), the holding company for C&F Bank, today reported consolidated net income of $23.7 million for the year ended December 31, 2023, compared to $29.4 million for the year ended December 31, 2022. Included in net income for the year ended December 31, 2022 were the effects of real estate disposal activity related to branch consolidation and a change in accounting policy election related to the fair value of c ...

(Mark One) Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________ to _________ Commission File Number 000-23423 C&F FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) (804) 843-2360 (Registrant's telephone number, including area code) Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smal ...

Interest Income and Loans - Net interest income for the community banking segment increased by $2.9 million to $18.5 million for Q2 2023 and increased by $8.4 million to $37.9 million for the first six months of 2023 compared to the same periods in 2022[309]. - Average loans outstanding in the consumer finance segment increased by $58.7 million, or 14.1%, for Q2 2023 and increased by $76.3 million, or 19.1%, for the first six months of 2023 compared to the same periods in 2022[316]. - Average loan yields were higher for Q2 2023 compared to Q2 2022, primarily due to rising interest rates, while average costs of interest-bearing liabilities also increased[309]. - The community banking segment expects loan yields to continue to rise, but the impact on net interest margin is expected to be outpaced by rising deposit costs for the remainder of 2023[309]. - Total loans grew from $1,160,454,000 on December 31, 2022, to $1,211,962,000 on June 30, 2023, reflecting a significant increase in commercial real estate and residential mortgage lending[370][379]. - Total loans increased to $1,686,990,000 as of June 30, 2023, compared to $1,635,718,000 at December 31, 2022, reflecting growth in the loan portfolio[397]. Mortgage Banking Performance - Total mortgage loan originations for Q2 2023 were $155.1 million, down from $211.1 million in Q2 2022, and for the first six months of 2023 were $270.9 million, down from $401.0 million in the same period in 2022[313]. - Mortgage loan originations decreased by 26.5% in Q2 2023 compared to Q2 2022, and by 32.4% for the first six months of 2023 compared to the same period in 2022[344]. - Mortgage banking segment reported net income of $346,000 for Q2 2023, down from $782,000 in Q2 2022, primarily due to lower mortgage loan originations[341]. - Total noninterest income for the mortgage banking segment was $3,196,000 for Q2 2023, down from $4,039,000 in Q2 2022[341]. - The provision for credit losses in the mortgage banking segment was $0 for Q2 2023, compared to $10,000 in Q2 2022[341]. Credit Losses and Provisions - The community banking segment recorded a provision for credit losses of $600,000 for Q2 2023 and $1.1 million for the first six months of 2023, compared to no provision for Q2 2022 and a net reversal of $700,000 for the first six months of 2022[310]. - The allowance for credit losses on loans is based on evaluations of historical loan losses, current conditions, and reasonable forecasts relevant to collectability[319]. - As of June 30, 2023, the allowance for credit losses was $40,528 million, with a provision charged to operations of $1,401 million for the quarter[330]. - The provision for credit losses increased to $1,100,000 for the three months ended June 30, 2023, compared to $520,000 for the same period in 2022, reflecting increased net charge-offs due to rising delinquent loans[348]. - The total amount of nonaccrual loans in the community banking segment rose to $520,000 at June 30, 2023, from $115,000 at December 31, 2022, indicating increased credit challenges[402]. Financial Ratios and Capital - The total risk-based capital ratio was 14.9% as of June 30, 2023, exceeding the minimum requirement of 8.0%[419]. - The Tier 1 leverage ratio was 9.9% as of June 30, 2023, above the regulatory minimum of 4.0%[419]. - The Common Equity Tier 1 capital ratio was 12.8% as of June 30, 2023, surpassing the minimum requirement of 4.5%[419]. - The allowance for credit losses (ACL) totaled $40,528,000 as of June 30, 2023, with the consumer finance segment accounting for $25,187,000 of this total[391]. - The ACL to total loans ratio was 5.30% as of June 30, 2023, slightly down from 5.47% at the end of 2022[372]. Income and Expenses - Net income for the three months ended June 30, 2023, was $1,070,000, down 51.2% from $2,195,000 in the same period last year[347]. - Noninterest income was $5,000 for the three months ended June 30, 2023, a significant decrease from $49,000 in the same period last year[347]. - Total noninterest expenses were $3,514,000 for the three months ended June 30, 2023, a slight decrease of 3.6% from $3,645,000 in the same period in 2022[347]. - Net income for the three months ended June 30, 2023, was $6,384,000, compared to $6,783,000 for the same period in 2022, representing a decrease of approximately 5.9%[426]. Liquidity and Deposits - Liquidity, including liquid assets, totaled $349.4 million at June 30, 2023, an increase from $325.7 million at December 31, 2022[415]. - The Corporation's uninsured deposits were approximately $565.9 million, representing 28.3% of total deposits as of June 30, 2023[416]. - Deposits decreased by $6.4 million to $2.00 billion at June 30, 2023, with noninterest-bearing demand deposits decreasing by $18.7 million[441]. - The Corporation's capacity and amount available for funding increased by $190.6 million and $98.3 million, respectively, from December 31, 2022[415]. Interest Rate Risk Management - The Corporation's interest rate swaps are used to manage exposure to interest rate risk, converting variable rates to fixed rates for periods ending between June 2024 and June 2029[469]. - The methodology for interest rate risk analysis has inherent shortcomings, as it relies on assumptions that may not accurately reflect actual market responses[491]. - The company mitigates interest rate risk by entering into forward sales contracts with investors at the time interest rates are locked for loans[492]. - The mortgage banking segment utilizes Interest Rate Lock Commitments (IRLCs) to manage interest rate risk associated with loans prior to funding[492]. Economic Conditions and Projections - The Corporation expects net interest income to decrease by 4.56% over the next twelve months if market interest rates shift downward by 200 basis points[433]. - A 200 basis point downward shift in market interest rates would decrease the net interest income by $5.08 million (4.56%) as of June 30, 2023[467]. - The EVE analysis indicates a 7.29% decrease in economic value of equity with a 200 basis point downward shift in interest rates[488].

FORM 10-Q or C&F FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) N/A (Former name, former address and former fiscal year, if changed since last report) Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smaller reporting company ☒ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pur ...

108 Earnings Per Share (EPS) | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------|-------|-------------|-------|-----------------|-------|------------| | (Dollars in thousands) | | Year \n2022 | Ended | December \n2021 | | 31, \n2020 | | Net income attributable to C&F Financial Corporation | $ | 29,159 | $ | 28,667 | $ | 22,117 | | Weighted average shares outstanding — basic and diluted | | 3,517,114 | | 3,604,119 | | 3,648,696 | NOTE 13: Income Taxes | --- ...

Financial Performance - Consolidated net income for 2022 was $19.063 million, a decrease of 17.5% compared to $23.082 million in 2021[153]. - Community banking segment net income increased to $13.754 million in 2022, up 26.5% from $10.884 million in 2021[153]. - Net income for the three months ended September 30, 2022, was $6,545,000, a decrease of 16.4% compared to $7,827,000 for the same period in 2021[322]. - The company reported a net income attributable to C&F Financial Corporation of $6,555,000 for the three months ended September 30, 2022, compared to $7,753,000 for the same period in 2021, reflecting a decrease of 15.5%[322]. Loan and Deposit Growth - Consumer finance segment loans grew by $28.6 million or 26.2% annualized in Q3 2022 compared to Q2 2022[159]. - Average loans increased by $94.6 million to $1.58 billion for Q3 2022, and by $18.8 million to $1.53 billion for the first nine months of 2022 compared to the same periods in 2021[194]. - Total loans reached $1,526,238 thousand, with a net interest income of $67,890 thousand for the period[187]. - Total loans increased to $1,567,202,000 as of September 30, 2022, from $1,410,060,000 as of December 31, 2021, representing a growth of 11.1%[254]. - Total loans in the Community Banking Segment reached $1,095,367,000 as of September 30, 2022, compared to $1,032,477,000 as of December 31, 2021, marking an increase of 6.1%[257]. - Total loans in the consumer finance segment was $465,713,000 as of September 30, 2022, showing a stable performance in the segment[250]. Interest Income and Margin - Consolidated annualized net interest margin was 4.37% in Q3 2022, up from 4.25% in Q3 2021[159]. - Net interest income for the third quarter of 2022 was $24,531 thousand, up from $21,749 thousand in the same period of 2021, indicating an increase of about 12.93%[184]. - The yield on total loans for the third quarter of 2022 was 5.82%, compared to 5.91% in the third quarter of 2021, showing a slight decrease of 0.09 percentage points[184]. - The interest rate spread for the third quarter of 2022 was 4.19%, an increase from 4.06% in the same quarter of the previous year[184]. - The average yield on community banking segment loans was 4.20% for the third quarter of 2022, down from 4.57% in the same quarter of 2021[181]. - The Corporation expects net interest margin to continue to expand despite rising deposit costs due to higher average yields on earning assets[202]. Noninterest Income and Expenses - Total noninterest income decreased by $5.6 million, or 47.9%, for Q3 2022, and by $20.2 million, or 52.1%, for the first nine months of 2022 compared to the same periods in 2021[204]. - Total noninterest expenses decreased by $1.8 million, or 7.9%, in Q3 2022, and by $12.2 million, or 16.8%, in the first nine months of 2022 compared to the same periods in 2021[208]. - Noninterest income for the community banking segment increased due to higher service charges on deposit accounts and debit card interchange income[219]. Capital and Equity - Total equity decreased to $185.4 million at September 30, 2022, down from $211.0 million at December 31, 2021[160]. - The Corporation's tier 1 capital ratio was 12.8% at September 30, 2022, compared to 13.0% at December 31, 2021[160]. - The Corporation's total risk-based capital ratio is 15.4% as of September 30, 2022, exceeding the minimum requirement of 8.0%[312]. - The Tier 1 risk-based capital ratio stands at 12.8%, well above the minimum requirement of 6.0%[312]. - Common Equity Tier 1 capital ratio is reported at 11.4%, surpassing the minimum requirement of 4.5%[312]. Asset and Liability Management - The Corporation's total assets increased to $2,336,456 thousand as of September 30, 2022, compared to $2,178,742 thousand in the previous year, reflecting a growth of approximately 7.25%[184]. - Total interest-bearing deposits amounted to $1,376,407 thousand in the third quarter of 2022, compared to $1,274,640 thousand in the same quarter of 2021, representing an increase of approximately 8.00%[184]. - The Corporation maintains overall liquidity sufficient to satisfy its operational requirements and contractual obligations[307]. Loan Losses and Charge-offs - The Corporation's allowance for loan losses was $40,976 thousand as of September 30, 2022, compared to $39,215 thousand in the previous year, indicating a slight increase in reserves[184]. - The provision for loan losses in the consumer finance segment increased to $1,200 for Q3 2022 from $400 in Q3 2021, reflecting significant loan growth[235]. - The ratio of annualized net charge-offs to average loans for the consumer finance segment was 0.22% for the first nine months of 2022[241]. - Nonaccrual loans decreased to $2,304,000 as of September 30, 2022, compared to $2,924,000 as of December 31, 2021, indicating a reduction of 21.2%[254]. Market and Economic Conditions - The company expects future operations to be influenced by interest rate fluctuations and general economic conditions, including inflation and unemployment levels[326]. - Recent increases in interest rates have affected the Corporation's sensitivity to interest rate risk[330].

Table of Contents or UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________ to _________ Commission File Number 000-23423 C&F FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Virg ...

Table of Contents c UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________ to _________ Commission File Number 000-23423 C&F FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) V ...