CFCX - CFCX STOCK NEWS

Centric Financial Corporation (CFCX) has appointed Jessica E. Meyers to its Board of Directors as of June 17, 2021. Meyers, founder and CEO of JEM Group, brings extensive experience in corporate governance and financial oversight. Recognized as one of Pennsylvania's Best 50 Women in Business, she has a strong background in the commercial construction sector. The company emphasizes the importance of board diversity for long-term success. Centric Bank, under the CFCX ticker, boasts assets of $1.1 billion and is recognized for its organic loan growth and community-centered approach.

Centric Bank, a subsidiary of Centric Financial Corporation (OTC: CFCX), has been named one of American Banker's Top 200 Community Banks in the U.S. for the third consecutive year, ranking 89th, up from 92nd in 2020. This ranking is based on Return on Average Equity (ROAE) over three years and highlights the bank's resilience amid challenges in 2020. With assets totaling $1.1 billion, Centric Bank continues to focus on organic growth and community support, offering financial services to various sectors.

Centric Financial Corporation (CFCX) announced strong first-quarter 2021 earnings with a net income of $3.6 million, or $0.43 per share, marking a 136% increase from Q1 2020. This growth is attributed to reduced funding costs and the recognition of $1.9 million in deferred fees from Paycheck Protection Program (PPP) loans. The Bank's return on average assets rose to 1.33%, while return on average equity reached 16.80%. Total loans grew by 44%, including substantial increases in non-interest-bearing deposits, which rose by 124%, contributing to a total deposit growth of 44% year-over-year.

Christine Pavlakovich has been promoted to Executive Vice President Chief Human Resources Officer at Centric Bank, effective immediately. President & CEO Patricia Husic highlighted Pavlakovich's extensive HR experience, focusing on talent acquisition and team development, which have strengthened the bank's market position. The bank has earned accolades such as the Most Powerful Women in Banking Top Team award, thanks to her leadership. Centric Bank, with assets of $1.1 billion, is recognized for its community-focused services and remains committed to employee wellness and professional development.

On April 15, 2021, Leslie A. Meck was promoted to Executive Vice President Chief Retail and Customer Experience Officer at Centric Bank. In her new role, Meck will lead the bank's Customer Experience (CX) function, enhancing customer interactions across all business lines. CEO Patricia Husic highlighted that Meck's expertise will further the bank's customer-centric culture, essential for growth. Centric Bank, with assets of $1.1 billion, is recognized for its focus on customer service and community engagement.

Centric Bank announces the promotion of Kimberly L. Turner to Executive Vice President Chief Risk Officer, effective immediately. Her leadership has strengthened the bank's compliance management systems and is pivotal for its growth as a financial institution. Turner, an executive since 2019, has a robust background, including a Juris Doctorate from Fordham and an MBA from UCLA. Centric Bank, recognized for its community focus and strong financial services, holds assets of $1.1 billion and continues to succeed in organic loan growth.

Patricia A. Husic, President & CEO of Centric Bank, has been recognized in the Central Penn Business Journal Power 100 for her leadership and community impact. Husic emphasized her commitment to supporting local small businesses and fostering economic growth in Pennsylvania. Under her leadership, Centric Bank has grown to a $1.3 billion institution with eight locations since its founding in 2007. The Power 100 highlights influential individuals, acknowledging their roles in enhancing community quality of life, according to Managing Editor Garry Lenton.

Centric Financial Corporation (OTC: CFCX) reported a strong performance in Q4 2020, achieving net income of $2.8 million, or $0.33 per share, marking a 14% increase from Q3 and a 45% increase from Q4 2019. For the full year, net income reached $9.1 million, or $1.05 per share, up 24% YoY. Key metrics included a net interest margin of 3.64% and an increase in loans outstanding by $261 million from 2019. The bank also reported a 10% organic growth in core loans. Despite a rise in nonperforming assets to $12.4 million, the asset quality remains strong.

Patricia (Patti) A. Husic, President & CEO of Centric Financial Corporation and Centric Bank (CFCX), has been named one of American Banker's 25 Most Powerful Women in Banking for the sixth year in a row. The virtual event recognizing influential women will be held from October 6-8. Husic has led Centric Bank in making significant strides, including funding over $215 million in Paycheck Protection Program loans, saving over 25,000 jobs, and achieving a growth in deposits by $96 million.