CFBANK NAMES CHAD OWENS AS LEADER OF CFBANK EQUIPMENT FINANCE

Rhea-AI Summary

CF Bankshares Inc. (CFBK) announces the appointment of Chad Owens as the leader of its expanding Equipment Finance business, effective immediately. With 25 years of experience in Equipment Finance and Commercial Banking, Owens will report to Brad Ringwald, Chief Commercial Banking Officer. His role will involve driving growth in CFBank's equipment finance operations across Ohio and surrounding states. CFBank aims to enhance its commercial lending products to better serve middle-market and small-ticket businesses, highlighting its commitment to a boutique commercial banking model.

Positive

• Appointment of Chad Owens expected to enhance equipment finance operations.
• Owens brings 25 years of experience, positioning CFBank for growth in equipment financing.
• CFBank's strategy targets middle-market and small-ticket businesses, expanding its market reach.

Negative

• None.

COLUMBUS, Ohio, Jan. 5, 2022 /PRNewswire/ -- CF Bankshares Inc. (CFBK) (the "Company") and its wholly-owned banking subsidiary, CFBank, N.A. ("CFBank") are pleased to announce that Chad Owens joins CFBank as the leader of its expanding Equipment Finance business, reporting directly to Brad Ringwald, Chief Commercial Banking Officer, and will work closely with all regional commercial banking teams.  Chad brings 25 years of experience in Equipment Finance and Commercial Banking with expertise working directly with middle-market businesses throughout Ohio and the surrounding region to provide capital equipment financing solutions.

Based in Columbus, Chad will drive the expansion of CFBank's middle-market and small-ticket equipment finance operation throughout our expanded market focus which includes not only Ohio but all contiguous states Indiana, Michigan, Pennsylvania, West Virginia, and Kentucky. We continue to add and enhance our commercial lending products and capabilities in support of our boutique commercial banking model, serving the needs of entrepreneurs and privately held businesses. 

Brad Ringwald, Chief Commercial Banking Officer commented, "We are excited to welcome Chad Owens to our CFBank Commercial team.  Chad's extensive background and experience in Equipment Finance allow us to expand this important line of business, which, from our collective experience, affords high growth opportunities and allows us to open doors to develop new commercial client relationships.  We are excited to have Chad's leadership as we continue to expand our top-tier lending products and teams."

Chad Owens commented, "I'm excited and feel fortunate to join the CFBank team and reunite with members I've known for several years.  I've lived in Worthington, Ohio for 15 years and have covered Ohio and surrounding states for almost 20 years.  CFBank's boutique commercial model is a proven success and I can't wait to participate in its future growth."

About CF Bankshares Inc. and CFBank

CF Bankshares Inc. (the Company) is a holding company that owns 100% of the stock of CFBank, National Association (CFBank). CFBank is a nationally chartered boutique Commercial bank operating primarily in Four (4) Major Metro Markets: Columbus, Cleveland, and Cincinnati, Ohio, and Indianapolis, Indiana. The current Leadership Team and Board recapitalized the Company and CFBank in 2012 during the financial crisis, repositioning CFBank as a full-service Commercial Bank model. Since the 2012 recapitalization, CFBank has achieved a CAGR of 25%.

CFBank focuses on serving the financial needs of closely held businesses and entrepreneurs, by providing 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.         

CFBank has been recognized as among the Top 200 Publicly Traded Community Banks by American Banker, and in addition, as a Small Cap All-Star performer by Piper Sandler in 2021, 2020, and 2019. CFBank is the only Ohio-based bank and 1 of only 4 banks in the country that have achieved this award for the past 3 consecutive years. In addition, CFBank was nationally recognized in 2021 by Bank Director magazine, ranking #4 in the Best Community Bank category overall and #2 in Growth Strategy.  

Additional information about the Company and CFBank is available at www.CF.Bank

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SOURCE CFBank

FAQ

Who is Chad Owens and what is his role at CF Bankshares Inc. (CFBK)?

Chad Owens has been appointed as the leader of CF Bankshares' Equipment Finance business, leveraging his 25 years of experience in Equipment Finance and Commercial Banking.

What are the primary goals of CF Bankshares Inc. (CFBK) with Chad Owens' appointment?

CFBK aims to expand its equipment finance operations and enhance its commercial lending products to serve middle-market and small-ticket businesses.

Where is CF Bankshares Inc. (CFBK) focusing its expansion efforts?

CFBK is focusing its expansion efforts in Ohio and contiguous states including Indiana, Michigan, Pennsylvania, West Virginia, and Kentucky.

What is the significance of CFBank's boutique commercial banking model?

The boutique commercial banking model differentiates CFBank by offering individualized service and direct customer access to decision-makers.

How has CF Bankshares Inc. (CFBK) performed since its recapitalization in 2012?

Since its recapitalization in 2012, CF Bankshares has achieved a compound annual growth rate (CAGR) of 25%.