Welcome to our dedicated page for CF Bankshares news (Ticker: CFBK), a resource for investors and traders seeking the latest updates and insights on CF Bankshares stock.
CF Bankshares Inc. (NASDAQ: CFBK), the parent company of CFBank, is a well-established financial institution with roots dating back to 1892. Originally founded in Wellsville, Ohio, as Central Federal Savings and Loan, the company has evolved into a full-service commercial banking entity serving four major metro markets: Columbus, Cleveland, and Cincinnati in Ohio, and Indianapolis in Indiana.
Core Business and Services:
CFBank offers a comprehensive suite of financial services tailored to both businesses and individuals. These include:
- Commercial Loans and Leases: CFBank provides commercial loans, equipment leasing, and SBA loans to support business growth.
- Real Estate Loans: Both commercial and residential real estate loans are available for property development and home ownership.
- Treasury Management: Advanced depository services to manage liquidity efficiently.
- Retail Banking: Full-service banking products, including checking and savings accounts, certificates of deposit, and money market accounts.
Current Projects and Achievements:
CFBank has been proactive in enhancing shareholder value and operational efficiency. Recently, the company authorized a stock repurchase program, reflecting confidence in its intrinsic value. This program allows for the repurchase of up to 250,000 shares of its common stock on or before June 30, 2024. Additionally, CFBank's leadership team, which recapitalized the company in 2012, has transformed it into a high-growth entity with a CAGR exceeding 20% since recapitalization.
For the third quarter of 2023, CFBank reported net earnings of $4.0 million, marking steady financial performance with a robust loan pipeline and expanding fee income. The company's assets reached $1.96 billion, with expectations to surpass $2 billion in 2024. Moreover, CFBank has been recognized for its durable performance and ranked #7 on American Banker's 2023 listing of Top 200 Publicly Traded Community Banks based on a 3-year average return on equity.
Financial Condition:
As of the latest quarter, CFBank's net interest income has shown stability despite a challenging high-interest-rate environment. The company maintains a strong credit quality with minimal nonaccrual loans and a strategic focus on increasing loan and deposit pipelines.
Partnerships and Community Engagement:
CFBank is committed to serving closely held businesses and entrepreneurs, providing personalized service and direct access to decision-makers. This customer-centric approach differentiates CFBank from larger institutions. The bank also actively engages with local communities, contributing to regional economic development.
For more information, visit the company's website at www.CF.Bank.
CF Bankshares Inc. (NASDAQ: CFBK) has declared a quarterly cash dividend of $0.06 per share, reflecting a 20% increase over the previous quarterly dividend. This dividend is payable on April 28, 2023, to shareholders of record as of April 17, 2023. Timothy T. O'Dell, President and CEO, expressed satisfaction in rewarding shareholders with this increase, enhancing total shareholder return. CFBank, the bank under CF Bankshares, operates in key markets and has shown a compound annual growth rate (CAGR) of nearly 25% since its recapitalization in 2012.
CF Bankshares Inc. (NASDAQ: CFBK) reported a net income of $4.7 million ($0.72 per share) for Q4 2022, a 10% rise from Q3 2022. Full-year net income stood at $18.2 million ($2.78 per share). PPNR for Q4 was $6.5 million, up 20% from Q3, with a return on average assets of 1.04%. Net loans increased by $98 million to $1.6 billion, maintaining strong credit quality. The company is relocating its headquarters to Hamilton Quarter in February 2023, aiming for increased visibility and new banking opportunities. A cash dividend of $0.05 per share was declared for January 31, 2023.
CF Bankshares Inc. (NASDAQ: CFBK) has announced a quarterly cash dividend of $0.05 per share, payable on January 31, 2023. Shareholders of record as of January 17, 2023 will receive the dividend. CF Bankshares is the parent company of CFBank, a commercial bank focusing on closely held businesses in metropolitan markets, including Columbus, Cleveland, Cincinnati, and Indianapolis. Since its recapitalization in 2012, CFBank has achieved a compound annual growth rate (CAGR) of nearly 25%.
CF Bankshares Inc. (NASDAQ: CFBK) reported third-quarter 2022 financial results with a net income of $4.2 million ($0.65/share) and core earnings of $5.2 million ($0.80/share). Key metrics included a return on average assets (ROA) of 1.02% and a return on average equity (ROE) of 12.62%. Net loans grew by $96 million (27.8% annualized) to $1.5 billion. The net interest margin increased to 3.36%, driven by a substantial rise in interest income. Despite challenges, credit quality remained solid with loans more than 30 days past due at 0.09%. The Company declared a cash dividend of $0.05 per share for October 2022.
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