CF BANKSHARES INC., PARENT OF CFBANK NA, REPORTS RESULTS FOR THE 1st QUARTER 2026
Rhea-AI Summary
CF Bankshares (NASDAQ: CFBK) reported Q1 2026 net income of $5.0M ($0.77 diluted), a 13% increase versus Q1 2025, with PPNR of $6.5M (up 5.4% YoY). NIM was 2.69%, ROE 10.74%, ROA 0.97%, book value per share $28.20, and Tier 1 leverage 11.76%.
Core commercial net loan growth was $45M in Q1 (annualized 15%), deposits totaled $1.8B, nonaccrual loans were $20.3M, and the Board declared a $0.09/share cash dividend paid April 21, 2026.
Positive
- Net income of $5.0M (Q1 2026)
- PPNR of $6.5M, up 5.4% YoY
- Core commercial net loan growth of $45M (annualized 15%)
- Tier 1 leverage ratio of 11.76% and total capital ratio of 15.15%
Negative
- Net interest income down 7.0% QoQ to $13.3M
- Net interest margin declined 16bps QoQ to 2.69%
- Nonaccrual loans increased $5.0M QoQ to $20.3M
- Provision for credit losses of $604,000 in Q1 2026
News Market Reaction – CFBK
In the May 5 session, CFBK declined 1.51%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 01 | Dividend declaration | Positive | +0.4% | Quarterly cash dividend of $0.09 common and $9.00 preferred declared. |
| Feb 05 | Earnings report | Positive | +2.3% | Q4 and full-year 2025 earnings growth, NIM expansion and higher book value. |
| Jan 21 | Executive hire | Positive | +5.4% | Addition of senior VP to strengthen commercial and CRE banking capabilities. |
| Jan 05 | Dividend increase | Positive | +1.2% | 13% increase in quarterly dividend to $0.09 common and $9.00 preferred. |
| Dec 18 | Buyback extension | Positive | +1.7% | Extension of stock repurchase program authorizing up to 325,000 share buybacks. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent shareholder-friendly actions (dividends, buybacks, positive earnings) have generally seen modest positive price reactions.
Over the past six months, CF Bankshares has reported improving fundamentals and capital returns. Q4 2025 results on Feb 05, 2026 showed higher net income and PPNR with expanding NIM and rising book value. The company raised and then maintained a $0.09 common dividend and extended a repurchase program for up to 325,000 shares. Management also added senior commercial banking talent. These steps frame the Q1 2026 earnings within an ongoing growth and balance-sheet-strength narrative.
Key Terms
ppnr financial
net interest margin financial
cost of funds financial
nonaccrual financial
net charge-offs financial
allowance for credit losses financial
fhlb advances financial
tier 1 leverage ratio financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
First Quarter 2026 Highlights
- Net income was
$5.0 million $0.77 13% increase over Q1 2025. - Pre-provision, pre-tax net revenue (PPNR) for Q1 2026 was
$6.5 million 5.4% increase over Q1 2025. - Return on Average Equity (ROE) was
10.74% for Q1 2026, while Return on Average Assets (ROA) was0.97% . - Net Interest Margin (NIM) increased 5bps for Q1 2026 when compared to Q1 2025.
- Cost of Funds declined 34bps when compared to Q1 2025 and declined 15bps when compared to Q4 2025.
- Noninterest income increased
$281,000 23% when compared to Q1 2025. This was driven by a$172,000 26% ) increase in Customer Fees, including Treasury Management products and services. - Core Commercial Net Loan Growth totaled
$45 million $100 million 15% . - Book value per common share increased to
$28.20 - CFBank's capital position remains strong with a Tier 1 Leverage ratio of
11.76% and a Total Capital Ratio of15.15% .
Recent Developments
- On April 1, 2026, the Company's Board of Directors declared a cash dividend of
$0.09 $9.00
CEO and Board Chair Commentary
Timothy T. O'Dell, President and CEO, commented "Our Q1 earnings totaled
Commercial loan payoffs occurred early in, and steadily throughout, the quarter, while heavier loan fundings and net loan growth were concentrated in the final ten days of Q1. This timing dynamic of loan fundings, combined with elevated loan payoffs, impacted average loans outstanding during the quarter and resulted in lower interest income. We expect to see the interest income benefit of Q1 net loan growth beginning in the second quarter.
Commercial loan and deposit pipelines remain strong, underscoring our expectations for continued solid growth within the Commercial Bank. Scaling the Commercial Bank remains a top strategic objective. Recent loan fundings also include adding new full C&I banking relationships. Another key strategic objective is improving overall loan mix and diversification.
Our expanded CF Commercial Banking teams continue to demonstrate our ability to compete effectively with regional banks and other larger competitors to win high-quality banking relationships.
In addition to our focus on commercial loan and deposit growth, initiatives are underway to increase fee based (non‑interest) income. Q1 results reflected a
NIM expanded modestly when compared to Q1 2025, while overcoming pressures from large Deposit Clients to receive greater Interest Income.
Overall business opportunities and pipelines remain robust. Our investment in increasing the depth of our regional market teams across
With loan payoffs expected to decline in subsequent quarters, coupled with expected increases in deal flow driven by expanded production capacity from our deepened regional teams, we believe the table is set to add greater size and scale moving forward."
Robert E. Hoeweler, Chairman of the Board, added "We believe our Bank is particularly well positioned to leverage the strength of our Commercial Banking Team & Franchise to achieve scalable growth."
Overview of Results
Net income for the three months ended March 31, 2026 totaled
Net Interest Income and Net Interest Margin
Net interest income totaled
The decrease in net interest income compared to the prior quarter was primarily due to a
The increase in net interest income compared to the first quarter of 2025 was primarily due to a
Noninterest Income
Noninterest income for the three months ended March 31, 2026 totaled
Noninterest income for the three months ended March 31, 2026 increased
The following table represents the notional amount of loans sold during the three months ended March 31, 2026, December 31, 2025, and March 31, 2025 (in thousands).
Three Months ended | ||||||||||||
March 31, | December 31, | March 31, | ||||||||||
Notional amount of loans sold | $ | 13,481 | $ | 14,066 | $ | 27,277 | ||||||
During the quarter ended March 31, 2025, two portfolios of residential mortgage loans totaling
Noninterest Expense
Noninterest expense for the quarter ended March 31, 2026 totaled
Noninterest expense for the quarter ended March 31, 2026 increased
Income Tax Expense
Income tax expense was
Loans and Loans Held For Sale
Gross loans and leases totaled
The following table presents the principal balance outstanding of loans and leases for certain non-owner-occupied loan types (in thousands).
March 31, 2026 | December 31, 2025 | |||||||
Construction – 1-4 family* | $ | 14,798 | $ | 16,535 | ||||
Construction – Multi-family* | 179,490 | 173,567 | ||||||
Construction – Non-residential* | 23,273 | 19,415 | ||||||
Hotel/Motel | 11,374 | 11,702 | ||||||
Industrial / Warehouse | 65,642 | 64,767 | ||||||
Land/Land Development | 38,952 | 40,789 | ||||||
Medical/Healthcare/Senior Housing | 1,293 | 1,330 | ||||||
Multi-family | 227,602 | 244,370 | ||||||
Office | 39,479 | 45,925 | ||||||
Retail | 117,519 | 88,484 | ||||||
Other | 11,931 | 8,121 | ||||||
* CFBank possesses a core competency and deep expertise in Construction Lending. The construction lending business sector has produced many full banking relationships with proven developers with long successful track records. |
Asset Quality
Nonaccrual loans were
Loans 30 days or more past due totaled
The allowance for credit losses on loans and leases totaled
There was
Deposits
Deposits totaled
At March 31, 2026, approximately
Borrowings
FHLB advances and other debt totaled
Capital
Stockholders' equity totaled
USE OF NON-GAAP FINANCIAL MEASURES
This earnings release contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in
Disclosures of non-GAAP financial measures should not be viewed as substitutes for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure is included at the end of this earnings release under the heading "GAAP TO NON-GAAP RECONCILIATION."
About CF Bankshares Inc. and CFBank
CF Bankshares Inc. (the "Company") is a bank holding company that owns
CFBank focuses on serving the financial needs of closely held businesses and entrepreneurs, by providing a comprehensive Commercial, Retail, and Mortgage Lending services presence. In all regional markets, CFBank provides commercial loans and equipment leases, commercial and residential real estate loans and treasury management depository services, residential mortgage lending, and full-service commercial and retail banking services and products. CFBank is differentiated by our penchant for individualized service coupled with direct customer access to decision-makers, and ease of doing business. CFBank matches the sophistication of much larger banks, without the bureaucracy.
Additional information about the Company and CFBank is available at www.CF.Bank
FORWARD LOOKING STATEMENTS
This press release and other materials we have filed or may file with the Securities and Exchange Commission ("SEC") contain or may contain forward-looking statements within the meaning of the safe harbor provisions of the
Forward-looking statements are not guarantees of performance or results. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable. We caution you, however, that assumptions or bases almost always vary from actual results, and the differences between assumptions or bases and actual results can be material. The forward-looking statements included in this press release speak only as of the date hereof. We undertake no obligation to publicly release revisions to any forward-looking statements to reflect events or circumstances after the date of such statements, except to the extent required by law.
Consolidated Statements of Income ($ in thousands, except share data)
| |||||||||||||
(unaudited) | Three months ended | ||||||||||||
March 31, | |||||||||||||
2026 | 2025 | % change | |||||||||||
Total interest income | $ | 28,130 | $ | 29,200 | -4 | % | |||||||
Total interest expense | 14,810 | 16,291 | -9 | % | |||||||||
Net interest income | 13,320 | 12,909 | 3 | % | |||||||||
Provision for credit losses | |||||||||||||
Provision for credit losses-loans | 979 | 352 | 178 | % | |||||||||
Provision for credit losses-unfunded commitments | (375) | 230 | -263 | % | |||||||||
604 | 582 | 4 | % | ||||||||||
Net interest income after provision for credit losses | 12,716 | 12,327 | 3 | % | |||||||||
Noninterest income | |||||||||||||
Service charges on deposit accounts | 839 | 667 | 26 | % | |||||||||
Net gain on sales of residential mortgage loans | 145 | 114 | 27 | % | |||||||||
Net loss on sales of commercial loans | — | (18) | n/m | ||||||||||
Net loss on sale of equity security | — | (103) | n/m | ||||||||||
Swap fee income | 30 | — | n/m | ||||||||||
Other | 473 | 546 | -13 | % | |||||||||
Noninterest income | 1,487 | 1,206 | 23 | % | |||||||||
Noninterest expense | |||||||||||||
Salaries and employee benefits | 4,328 | 4,183 | 3 | % | |||||||||
Occupancy and equipment | 427 | 434 | -2 | % | |||||||||
Data processing | 769 | 674 | 14 | % | |||||||||
Franchise and other taxes | 386 | 303 | 27 | % | |||||||||
Professional fees | 819 | 787 | 4 | % | |||||||||
Director fees | 167 | 177 | -6 | % | |||||||||
Postage, printing, and supplies | 48 | 49 | -2 | % | |||||||||
Advertising and marketing | 336 | 44 | 664 | % | |||||||||
Telephone | 45 | 55 | -18 | % | |||||||||
Loan expenses | 198 | 325 | -39 | % | |||||||||
Foreclosed assets, net | 4 | 1 | 300 | % | |||||||||
Depreciation | 123 | 118 | 4 | % | |||||||||
FDIC premiums | 385 | 546 | -29 | % | |||||||||
Regulatory assessment | 45 | 65 | -31 | % | |||||||||
Other insurance | 50 | 46 | 9 | % | |||||||||
Other | 181 | 147 | 23 | % | |||||||||
Noninterest expense | 8,311 | 7,954 | 4 | % | |||||||||
Income before income taxes | 5,892 | 5,579 | 6 | % | |||||||||
Income tax expense | 868 | 1,149 | -24 | % | |||||||||
Net income | 5,024 | 4,430 | 13 | % | |||||||||
Earnings allocated to participating securities (Series D preferred stock) | (155) | (136) | n/m | ||||||||||
Net Income attributable to common stockholders | $ | 4,869 | $ | 4,294 | 13 | % | |||||||
Share Data | |||||||||||||
Basic earnings per common share | $ | 0.77 | $ | 0.68 | |||||||||
Diluted earnings per common share | $ | 0.77 | $ | 0.68 | |||||||||
Average common shares outstanding - basic | 6,286,297 | 6,285,649 | |||||||||||
Average common shares outstanding - diluted | 6,308,071 | 6,285,649 | |||||||||||
n/m - not meaningful | |||||||||||||
Consolidated Statements of Financial Condition
| ||||||||||||||||||||||||
($ in thousands) | Mar 31, | Dec 31, | Sept 30, | Jun 30, | Mar 31, | |||||||||||||||||||
(unaudited) | 2026 | 2025 | 2025 | 2025 | 2025 | |||||||||||||||||||
Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 267,759 | $ | 258,972 | $ | 272,361 | $ | 275,684 | $ | 240,986 | ||||||||||||||
Interest-bearing deposits in other financial institutions | 100 | 100 | 100 | 100 | 100 | |||||||||||||||||||
Securities available for sale | 17,395 | 17,496 | 9,199 | 8,996 | 8,793 | |||||||||||||||||||
Equity securities | — | — | — | - | - | |||||||||||||||||||
Loans held for sale | 3,634 | 5,611 | 2,484 | 1,613 | 3,505 | |||||||||||||||||||
Loans and leases | 1,779,903 | 1,756,532 | 1,745,125 | 1,773,930 | 1,767,942 | |||||||||||||||||||
Less allowance for credit losses on loans and leases | (18,641) | (17,678) | (16,841) | (19,122) | (17,803) | |||||||||||||||||||
Loans and leases, net | 1,761,262 | 1,738,854 | 1,728,284 | 1,754,808 | 1,750,139 | |||||||||||||||||||
FHLB and FRB stock | 8,364 | 8,354 | 8,343 | 8,031 | 8,022 | |||||||||||||||||||
Foreclosed assets, net | — | - | - | 524 | 524 | |||||||||||||||||||
Premises and equipment, net | 3,533 | 3,547 | 3,616 | 3,469 | 3,472 | |||||||||||||||||||
Operating lease right of use assets | 5,859 | 5,680 | 5,848 | 5,760 | 5,925 | |||||||||||||||||||
Bank owned life insurance | 28,294 | 28,049 | 27,810 | 27,573 | 27,341 | |||||||||||||||||||
Accrued interest receivable and other assets | 49,576 | 50,658 | 52,972 | 46,979 | 45,874 | |||||||||||||||||||
Total assets | $ | 2,145,776 | $ | 2,117,321 | $ | 2,111,017 | $ | 2,133,537 | $ | 2,094,681 | ||||||||||||||
Liabilities and Stockholders' Equity | ||||||||||||||||||||||||
Deposits | ||||||||||||||||||||||||
Noninterest bearing | $ | 240,645 | $ | 285,523 | $ | 277,629 | $ | 296,348 | $ | 291,800 | ||||||||||||||
Interest bearing | 1,568,797 | 1,495,166 | 1,500,977 | 1,513,500 | 1,491,889 | |||||||||||||||||||
Total deposits | 1,809,442 | 1,780,689 | 1,778,606 | 1,809,848 | 1,783,689 | |||||||||||||||||||
FHLB advances and other debt | 100,973 | 100,964 | 100,956 | 100,947 | 92,689 | |||||||||||||||||||
Advances by borrowers for taxes and insurance | 1,292 | 2,523 | 1,479 | 374 | 1,346 | |||||||||||||||||||
Operating lease liabilities | 6,071 | 5,878 | 6,033 | 5,932 | 6,083 | |||||||||||||||||||
Accrued interest payable and other liabilities | 23,995 | 27,802 | 29,623 | 24,394 | 23,183 | |||||||||||||||||||
Subordinated debentures | 15,048 | 15,039 | 15,029 | 15,019 | 15,009 | |||||||||||||||||||
Total liabilities | 1,956,821 | 1,932,895 | 1,931,726 | 1,956,514 | 1,921,999 | |||||||||||||||||||
Stockholders' equity | 188,955 | 184,426 | 179,291 | 177,023 | 172,682 | |||||||||||||||||||
Total liabilities and stockholders' equity | $ | 2,145,776 | $ | 2,117,321 | $ | 2,111,017 | $ | 2,133,537 | $ | 2,094,681 | ||||||||||||||
Average Balance Sheet and Yield Analysis
| ||||||||||||||||||||||||||
For Three Months Ended | ||||||||||||||||||||||||||
March 31, 2026 | December 31, 2025 | March 31, 2025 | ||||||||||||||||||||||||
Average | Interest | Average | Average | Interest | Average | Average | Interest | Average | ||||||||||||||||||
Outstanding | Earned/ | Yield/ | Outstanding | Earned/ | Yield/ | Outstanding | Earned/ | Yield/ | ||||||||||||||||||
Balance | Paid | Rate | Balance | Paid | Rate | Balance | Paid | Rate | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||
Interest-earning assets: | ||||||||||||||||||||||||||
Securities (1) (2) | $ | 17,523 | $ | 187 | 3.89 % | $ | 13,473 | $ | 125 | 3.27 % | $ | 13,632 | $ | 139 | 3.49 % | |||||||||||
Loans and leases and loans held for sale (3) | 1,738,056 | 25,809 | 5.94 % | 1,725,629 | 27,153 | 6.29 % | 1,747,968 | 26,815 | 6.14 % | |||||||||||||||||
Other earning assets | 217,500 | 1,992 | 3.66 % | 260,562 | 2,641 | 4.05 % | 183,421 | 2,072 | 4.52 % | |||||||||||||||||
FHLB and FRB stock | 8,358 | 142 | 6.80 % | 8,349 | 148 | 7.09 % | 8,151 | 174 | 8.54 % | |||||||||||||||||
Total interest-earning assets | 1,981,437 | 28,130 | 5.67 % | 2,008,013 | 30,067 | 5.98 % | 1,953,172 | 29,200 | 5.97 % | |||||||||||||||||
Noninterest-earning assets | 100,204 | 102,813 | 99,873 | |||||||||||||||||||||||
Total assets | $ | 2,081,641 | $ | 2,110,826 | $ | 2,053,045 | ||||||||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||||||||||
Deposits | $ | 1,513,330 | $ | 13,484 | 3.56 % | $ | 1,493,254 | $ | 14,379 | 3.85 % | $ | 1,465,045 | $ | 15,253 | 4.16 % | |||||||||||
FHLB advances and other borrowings | 116,014 | 1,326 | 4.57 % | 115,995 | 1,365 | 4.71 % | 107,690 | 1,038 | 3.86 % | |||||||||||||||||
Total interest-bearing liabilities | 1,629,344 | 14,810 | 3.64 % | 1,609,249 | 15,744 | 3.91 % | 1,572,735 | 16,291 | 4.14 % | |||||||||||||||||
Noninterest-bearing liabilities | 265,120 | 319,265 | 309,457 | |||||||||||||||||||||||
Total liabilities | 1,894,464 | 1,928,514 | 1,882,192 | |||||||||||||||||||||||
Equity | 187,177 | 182,312 | 170,853 | |||||||||||||||||||||||
Total liabilities and equity | $ | 2,081,641 | $ | 2,110,826 | $ | 2,053,045 | ||||||||||||||||||||
Net interest-earning assets | $ | 352,093 | $ | 398,764 | $ | 380,437 | ||||||||||||||||||||
Net interest income/interest rate spread | $ | 13,320 | 2.03 % | $ | 14,323 | 2.07 % | $ | 12,909 | 1.83 % | |||||||||||||||||
Net interest margin | 2.69 % | 2.85 % | 2.64 % | |||||||||||||||||||||||
Average interest-earning assets | ||||||||||||||||||||||||||
to average interest-bearing liabilities | 121.61 % | 124.78 % | 124.19 % | |||||||||||||||||||||||
(1) | Average balance is computed using the carrying value of securities. Average yield is computed using the historical amortized cost average balance for available for sale securities. |
(2) | Average yields and interest earned are stated on a fully taxable equivalent basis. |
(3) | Average balance is computed using the recorded investment in loans net of the allowance for credit losses on loans and leases and includes nonperforming loans and leases. |
Consolidated Financial Highlights
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At or for the three months ended | |||||||||||||||||||||||||
($ in thousands except per share data) | Mar 31, | Dec 31, | Sept 30, | Jun 30, | Mar 31, | ||||||||||||||||||||
(unaudited) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||||||||||||
Earnings and Dividends | |||||||||||||||||||||||||
Net interest income | $ | 13,320 | $ | 14,323 | $ | 13,790 | $ | 14,001 | $ | 12,909 | |||||||||||||||
Provision for credit losses | $ | 604 | $ | 1,169 | $ | 5,069 | $ | 1,427 | $ | 582 | |||||||||||||||
Noninterest income | $ | 1,487 | $ | 1,423 | $ | 1,718 | $ | 1,580 | $ | 1,206 | |||||||||||||||
Noninterest expense | $ | 8,311 | $ | 7,742 | $ | 7,726 | $ | 7,754 | $ | 7,954 | |||||||||||||||
Net income | $ | 5,024 | $ | 5,736 | $ | 2,340 | $ | 5,035 | $ | 4,430 | |||||||||||||||
Basic earnings per common share | $ | 0.77 | $ | 0.88 | $ | 0.36 | $ | 0.77 | $ | 0.68 | |||||||||||||||
Diluted earnings per common share | $ | 0.77 | $ | 0.88 | $ | 0.36 | $ | 0.77 | $ | 0.68 | |||||||||||||||
Dividends declared per share | $ | 0.09 | $ | 0.08 | $ | 0.08 | $ | 0.07 | $ | 0.07 | |||||||||||||||
Performance Ratios (annualized) | |||||||||||||||||||||||||
Return on average assets | 0.97 | % | 1.09 | % | 0.45 | % | 0.97 | % | 0.86 | % | |||||||||||||||
Return on average equity | 10.74 | % | 12.59 | % | 5.20 | % | 11.47 | % | 10.37 | % | |||||||||||||||
Average yield on interest-earning assets | 5.67 | % | 5.98 | % | 6.08 | % | 6.13 | % | 5.97 | % | |||||||||||||||
Average rate paid on interest-bearing liabilities | 3.64 | % | 3.91 | % | 4.12 | % | 4.16 | % | 4.14 | % | |||||||||||||||
Average interest rate spread | 2.03 | % | 2.07 | % | 1.96 | % | 1.97 | % | 1.83 | % | |||||||||||||||
Net interest margin, fully taxable equivalent | 2.69 | % | 2.85 | % | 2.76 | % | 2.83 | % | 2.64 | % | |||||||||||||||
Efficiency ratio (3) | 56.13 | % | 49.17 | % | 49.82 | % | 49.77 | % | 55.94 | % | |||||||||||||||
Noninterest expense to average assets | 1.60 | % | 1.47 | % | 1.47 | % | 1.49 | % | 1.55 | % | |||||||||||||||
Capital | |||||||||||||||||||||||||
Tier 1 capital leverage ratio (1) | 11.76 | % | 11.40 | % | 11.19 | % | 11.20 | % | 10.55 | % | |||||||||||||||
Total risk-based capital ratio (1) | 15.15 | % | 15.02 | % | 14.88 | % | 14.69 | % | 13.76 | % | |||||||||||||||
Tier 1 risk-based capital ratio (1) | 13.95 | % | 13.85 | % | 13.74 | % | 13.45 | % | 12.59 | % | |||||||||||||||
Common equity tier 1 capital to risk weighted assets (1) | 13.95 | % | 13.85 | % | 13.74 | % | 13.45 | % | 12.59 | % | |||||||||||||||
Equity to total assets at end of period | 8.81 | % | 8.71 | % | 8.49 | % | 8.30 | % | 8.24 | % | |||||||||||||||
Book value per common share | $ | 28.20 | $ | 27.87 | $ | 26.99 | $ | 26.63 | $ | 25.86 | |||||||||||||||
Tangible book value per common share (2) | $ | 28.20 | $ | 27.87 | $ | 26.99 | $ | 26.63 | $ | 25.86 | |||||||||||||||
Period-end market value per common share | $ | 27.91 | $ | 24.95 | $ | 23.95 | $ | 23.97 | $ | 22.04 | |||||||||||||||
Period-end common shares outstanding | 6,499,617 | 6,418,349 | 6,443,775 | 6,447,692 | 6,476,759 | ||||||||||||||||||||
Average basic common shares outstanding | 6,286,297 | 6,281,531 | 6,292,698 | 6,300,427 | 6,285,649 | ||||||||||||||||||||
Average diluted common shares outstanding | 6,308,071 | 6,350,488 | 6,346,243 | 6,344,833 | 6,285,649 | ||||||||||||||||||||
Asset Quality | |||||||||||||||||||||||||
Nonperforming loans | $ | 20,313 | $ | 15,329 | $ | 10,034 | $ | 16,632 | $ | 14,563 | |||||||||||||||
Nonperforming loans to total loans | 1.14 | % | 0.87 | % | 0.57 | % | 0.94 | % | 0.82 | % | |||||||||||||||
Nonperforming assets to total assets | 0.95 | % | 0.72 | % | 0.48 | % | 0.80 | % | 0.72 | % | |||||||||||||||
Allowance for credit losses on loans and leases to total loans and leases | 1.05 | % | 1.01 | % | 0.97 | % | 1.08 | % | 1.01 | % | |||||||||||||||
Allowance for credit losses on loans and leases to nonperforming loans and leases | 91.77 | % | 115.32 | % | 167.84 | % | 114.97 | % | 122.25 | % | |||||||||||||||
Net charge-offs (recoveries) | $ | 16 | $ | 131 | $ | 7,099 | $ | 51 | $ | 23 | |||||||||||||||
Annualized net charge-offs (recoveries) to average loans | 0.00 | % | 0.03 | % | 1.62 | % | 0.01 | % | 0.01 | % | |||||||||||||||
Average Balances | |||||||||||||||||||||||||
Loans | $ | 1,753,016 | $ | 1,739,982 | $ | 1,750,950 | $ | 1,775,865 | $ | 1,763,827 | |||||||||||||||
Assets | $ | 2,081,641 | $ | 2,110,826 | $ | 2,101,048 | $ | 2,074,933 | $ | 2,053,045 | |||||||||||||||
Stockholders' equity | $ | 187,177 | $ | 182,312 | $ | 179,867 | $ | 175,589 | $ | 170,853 | |||||||||||||||
(1) | Regulatory capital ratios of CFBank |
(2) | There are no differences between book value per common share and tangible book value per common share since the Company does not have any intangible assets. |
(3) | The efficiency ratio equals noninterest expense (excluding amortization of intangibles and foreclosed asset writedowns) divided by net interest income plus noninterest income (excluding gains or losses on securities transactions). |
NON-GAAP FINANCIAL MEASURE
The following non-GAAP financial measure used by the Company provides information useful to investors in understanding the Company's operating performance and trends and facilitates comparisons with the performance of peers. The following table summarizes the non-GAAP financial measure derived from amounts reported in the Company's consolidated financial statements:
Pre-provision, pre-tax net revenue ("PPNR")
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Three Months Ended | ||||||||||||||
March 31, | December 31, | March 31, | ||||||||||||
2026 | 2025 | 2025 | ||||||||||||
Net income | $ | 5,024 | $ | 5,736 | $ | 4,430 | ||||||||
Add: Provision for credit losses | 604 | 1,169 | 582 | |||||||||||
Add: Income tax expense | 868 | 1,099 | 1,149 | |||||||||||
Pre-provision, pre-tax net revenue | $ | 6,496 | $ | 8,004 | $ | 6,161 | ||||||||
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SOURCE CF BANKSHARES INC.