Welcome to our dedicated page for C&F Financial news (Ticker: CFFI), a resource for investors and traders seeking the latest updates and insights on C&F Financial stock.
C&F Financial Corp (CFFI) is a prominent American bank holding company that operates through its subsidiaries to offer a comprehensive range of banking and financial services to individuals and businesses. Established in 1927, C&F Financial Corp prides itself on its enduring commitment to community banking and exceptional customer service.
The company's operations are divided into three main segments: Community Banking, Mortgage Banking, and Consumer Finance. In the Community Banking segment, C&F Bank provides a variety of lending services including residential mortgage loans, commercial real estate loans, land acquisition and development loans, and consumer loans. The company generates the majority of its revenue from this segment, highlighting its central role in the company's portfolio.
The Mortgage Banking segment focuses on providing residential mortgage solutions, catering to homebuyers with competitive rates and a simplified approval process. Meanwhile, the Consumer Finance segment offers non-prime automobile lending, providing essential financial products to underserved markets.
Despite numerous changes in the financial landscape, C&F Financial Corp has maintained its independence, avoiding mergers and acquisitions that have affected many of its counterparts. This stability allows the company to offer personalized banking services characterized by high levels of trust and familiarity. Customers can expect to be greeted by name and to interact with employees who understand their financial needs.
Recent achievements highlight the company's robust financial health and strategic growth. As of the latest reporting periods, C&F Financial Corp has showcased impressive capital ratios and a strong balance sheet, underscoring its sound financial condition and regulatory compliance.
For more detailed financial data and updates on the latest company developments, including period-specific financial measures and reconciliations, please refer to the company's financial reports and news releases.
With over nine decades of banking experience, C&F Financial Corp continues to thrive, offering a diverse range of quality financial products while staying true to its community banking roots. The company remains committed to delivering outstanding service through its well-trained employees and maintaining a strong presence in every community it serves.
C&F Financial Corporation (NASDAQ: CFFI) reported a consolidated net income of $6.5 million for Q1 2023, a 13.3% increase from Q1 2022. Earnings per share rose to $1.86, with an annualized return on average equity of 12.87%. The community banking segment experienced an 83% increase in earnings, driven by higher net interest income and loan growth. However, the mortgage banking and consumer finance segments faced challenges: mortgage loan originations decreased by 39% year-over-year, while the consumer finance segment's net income dropped 76%. Total deposits fell slightly by 1.6% annualized, but liquidity remains strong with a borrowing availability of $658.3 million. The quarterly cash dividend was raised by 5% to $0.44 per share.
The board of directors of C&F Financial Corporation (NASDAQ:CFFI) has declared a cash dividend of 44 cents per share, marking a 5% increase from the previous quarter's 42 cents. This dividend is payable on April 1, 2023, to shareholders of record on March 15, 2023. The board continuously evaluates the dividend amount based on economic conditions, capital requirements, and future earnings.
C&F Financial operates multiple banking and financial service branches across several states, including Virginia, Maryland, and North Carolina.
C&F Financial Corporation (NASDAQ: CFFI) reported a consolidated net income of $29.4 million for the year ended December 31, 2022, showing a slight increase from $29.1 million in 2021. Adjusted net income decreased by 10.1% to $27.0 million, impacted by the mortgage banking segment's 62.3% drop in loan originations due to rising interest rates. The community banking segment thrived, contributing $10.6 million in net income for Q4 2022, a significant rise from $3.2 million in Q4 2021, fueled by higher interest income. Total net income for Q4 2022 was $10.3 million, reflecting a 70.6% jump year-over-year.
C&F Financial Corporation (NASDAQ:CFFI) announced the appointment of Dr. Julie R. Agnew as a director, effective January 17, 2023. Dr. Agnew previously served on the board from 2017 to August 2022, when she left to work for an investment manager. Now returning to academia, she is the Richard C. Kraemer Term Professor at William & Mary’s Mason School of Business. CEO Tom Cherry expressed enthusiasm for Dr. Agnew's extensive expertise, which will benefit the Corporation. C&F Bank operates numerous offices across Virginia, offering a range of financial services including mortgage and wealth management.
C&F Financial Corporation (NASDAQ:CFFI) has declared a regular cash dividend of 42 cents per common share, payable on January 1, 2023 to shareholders recorded by December 15, 2022. Additionally, the board has authorized a stock repurchase program effective December 1, 2022, allowing repurchases of up to $10 million of common stock through December 31, 2023. This program follows a previous repurchase initiative that acquired 85,574 shares for $4.4 million since December 2021.
C&F Financial Corporation (NASDAQ: CFFI) reported a consolidated net income of $6.5 million for Q3 2022, down $1.3 million from Q3 2021. Year-to-date net income for 2022 stands at $19.1 million, a decline of $4.0 million year-on-year. Key highlights include an 8.6% growth in community banking loans and a substantial 26.2% increase in consumer finance loans. However, mortgage banking segment originations plummeted by nearly 49% amidst rising interest rates. A quarterly dividend of 42 cents per share was declared, reflecting a 5% increase from the previous quarter.
FAQ
What is the current stock price of C&F Financial (CFFI)?
What is the market cap of C&F Financial (CFFI)?
What services does C&F Financial Corp offer?
What are the main business segments of C&F Financial Corp?
How does C&F Financial Corp generate most of its revenue?
When was C&F Financial Corp founded?
What distinguishes C&F Financial Corp from other banks?
What types of loans does C&F Financial Corp offer?
Is C&F Financial Corp involved in non-prime automobile lending?
How has C&F Financial Corp maintained its independence?
Where can I find detailed financial reports for C&F Financial Corp?
Who can I contact for more information about C&F Financial Corp?
