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 $0.05 per share, payable on October 25, 2022, to shareholders of record by the close of business on October 14, 2022. The company, which operates CFBank, focuses on providing comprehensive commercial and retail banking services across major markets in Ohio and Indiana. CFBank has demonstrated significant growth with a CAGR of nearly 25% since its recapitalization in 2012.
CF Bankshares Inc. (CFBK) reports a strong second quarter for 2022 with a net income of $4.7 million and earnings per share of $0.72. Year-to-date net income is $9.2 million. Key metrics include a return on average assets (ROA) of 1.18% and return on average equity (ROE) of 14.61%. Net interest income rose by $771,000 (7.2%) from the previous quarter. Loans increased by $97 million (7.6%), and credit quality remained strong, with loans more than 30 days past due at just 0.05% of total loans. A 25% dividend increase was also announced.
CF Bankshares Inc. (NASDAQ: CFBK) announced a quarterly cash dividend of $0.05 per share, marking a substantial 25% increase from the previous dividend. This dividend will be payable on July 26, 2022 to shareholders of record by the close of business on July 15, 2022. President and CEO Timothy T. O'Dell highlighted this increase as a sign of confidence in the company's business strength and a commitment to delivering attractive total returns to shareholders.
CF Bankshares Inc. (NASDAQ: CFBK) shared its Annual Meeting presentation, detailing strong financial performance for 2021 and Q1 2022. Key highlights include:
- Annualized Loan CAGR of 31% since Dec 2017.
- Tangible book value CAGR of 16% over five years.
- Significant improvement in credit quality with Criticized Loans decreasing from 1.96% to 0.32% from Dec 2017 to Mar 2022.
The company focuses on serving closely held businesses in major markets including Columbus, Cleveland, Cincinnati, and Indianapolis.
CF Bankshares Inc. (NASDAQ: CFBK) reported a net income of $4.5 million with an EPS of $0.69 for Q1 2022, maintaining earnings levels from Q4. Key metrics include a 1.24% return on average assets and a 14.32% return on equity. Loans grew by $67 million (5.5%), and deposits increased by $52 million (4.2%). The efficiency ratio improved to 53.10%, and credit quality remains robust, with only 0.07% of loans more than 30 days overdue. A cash dividend of $0.04 per share was declared for distribution on April 25, 2022.
CF Bankshares Inc. (NASDAQ: CFBK) has declared a quarterly cash dividend of $0.04 per share, payable on April 25, 2022. Shareholders of record as of the close of business on April 14, 2022 will receive this dividend. The bank, operating in major markets such as Columbus and Cleveland, has achieved a compound annual growth rate (CAGR) of nearly 25% since its recapitalization in 2012. CFBank is recognized as a top community bank and has consistently received accolades for its performance and growth strategies.
CF Bankshares Inc. (NASDAQ: CFBK) reported a net income of $4.5 million for Q4 2021 and $18.5 million for the full year. Earnings Per Share (EPS) for Q4 stood at $0.68, while the full year EPS was $2.77. The Return on Average Assets (ROA) was 1.29% for Q4 and 1.26% for 2021, with a Return on Average Equity (ROE) of 14.50% and 15.58%, respectively. Net Interest Margin (NIM) improved to 3.36% in Q4 compared to 2.48% in Q4 2020. Loans increased by $90.4 million during the quarter. A cash dividend of $0.04 per share was declared, payable on February 1, 2022.
CF Bankshares Inc. (NASDAQ: CFBK) announced that its subsidiary, CFBank, has been recognized by BankDirector.com, ranking #4 in the Best Community Bank category and #2 in Growth Strategy. This acknowledgment positions CFBank as the only Ohio community bank among the top 10 in the nation. CFBank, operating in major Ohio cities and Indianapolis, Indiana, has achieved a CAGR of 25% since its recapitalization in 2012, focusing on servicing closely held businesses and offering a range of financial products.
CF Bankshares Inc. (NASDAQ: CFBK) announced a quarterly cash dividend of $0.04 per share, payable on February 1, 2022, to shareholders of record as of January 21, 2022. Since the recapitalization in 2012, CFBank has achieved a compound annual growth rate (CAGR) of 25%. The bank, which serves closely held businesses and entrepreneurs across four major metro markets, has been recognized among the Top 200 Publicly Traded Community Banks by American Banker and ranked highly for its growth strategy.
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.
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