Cf Bankshares Inc Stock Price, News & Analysis

The bank's performance showed notable improvements with Net Interest Margin (NIM) increasing by 7bps quarter-over-quarter and 28bps year-over-year. Noninterest-bearing deposits grew by $18 million (7%) during Q1. The company completed strategic sales of residential mortgage portfolios worth $18.1 million, redirecting funds to higher-yielding commercial banking relationships.

Notable developments include appointing Matt Tuohey as Northeast Ohio Market President, declaring a $0.07 per share dividend, and securing a new $10 million revolving credit line. The bank's commercial banking group achieved over $50 million in net loan growth despite significant loan payoffs.

CF Bankshares Inc. (NASDAQ: CFBK) has appointed Matt Tuohey as Market President for the Northeast Ohio (Greater Cleveland) region. Tuohey brings over 30 years of commercial banking and executive leadership experience to CFBank. He previously served as Senior Vice President, Commercial Team Lead at WesBanco, where he established and led a Cleveland loan production office.

Prior to WesBanco, Tuohey held senior leadership positions at Chemical Bank and National City Bank. His appointment aligns with CFBank's strategy to expand its commercial banking presence in Northeast Ohio and strengthen its full-service, boutique commercial banking solutions across its five Metro Regional Markets.

CF Bankshares (NASDAQ: CFBK) has announced its latest quarterly cash dividend distribution. The company's Board of Directors has declared a dividend of $0.07 per share on common stock and a corresponding $7.00 per share on Series D preferred stock. The dividend will be paid on April 22, 2025 to shareholders of record as of April 14, 2025.

Each share of Series D preferred stock can be converted into 100 shares of common stock.

CF Bankshares Inc. (NASDAQ: CFBK) reported its Q4 and full-year 2024 financial results. Q4 net income reached $4.4 million ($0.68 per diluted share), while full-year net income was $13.4 million ($2.06 per diluted share). Pre-provision, pre-tax net revenue (PPNR) for Q4 increased 12% to $6.5 million compared to Q3 2024.

Key highlights include: Net Interest Income rose by $1.0 million (9.4%) in Q4 compared to Q3; Net Interest Margin (NIM) improved by 16bps; noninterest income grew 40% year-over-year in Q4; and noninterest-bearing deposits increased by $38 million (16%) during 2024.

The bank's asset quality showed nonaccrual loans at 0.84% of total loans, while the allowance for credit losses stood at 1.00% of total loans. Total deposits reached $1.76 billion, representing a 0.6% increase from Q3 2024.

CF Bankshares (NASDAQ: CFBK) has announced a new stock repurchase program authorized by its Board of Directors. The program allows the company to repurchase up to 325,000 shares, representing approximately 5% of its outstanding common stock, through January 31, 2026.

The repurchases may be conducted through various means, including open market and privately negotiated transactions, in compliance with securities laws and regulations, including Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934. The timing, manner, and amount of repurchases will be determined by management based on factors such as trading price, market conditions, and regulatory requirements. The program can be suspended or discontinued at any time.

CF Bankshares (NASDAQ: CFBK) has announced a quarterly cash dividend declaration. The company's Board of Directors has approved a $0.07 per share dividend on common stock and a corresponding $7.00 per share dividend on Series D preferred stock. The dividends will be paid on January 27, 2025, to shareholders recorded as of January 16, 2025. Each share of Series D preferred stock can be converted into 100 shares of common stock.

CF Bankshares Inc. reported Q3 2024 net income of $4.2 million ($0.65 per diluted share), with pre-provision, pre-tax net revenue of $5.8 million. Key highlights include a 10.38% Return on Average Equity and 0.84% Return on Average Assets. The company experienced notable growth with noninterest bearing deposits increasing by $40 million (18%) and commercial loans growing by $35 million during the quarter. Service charge fee income rose 65% compared to Q3 2023. The company declared a cash dividend of $0.07 per common share and $7.00 per Series D Preferred Stock, paid on October 19, 2024.

CF Bankshares Inc. (NASDAQ: CFBK), the parent company of CFBank, NA, has announced a 17% increase in its quarterly cash dividend. The Board of Directors declared a $0.07 per share quarterly cash dividend on its common stock and a corresponding $7.00 per share quarterly cash dividend on its Series D preferred stock. The dividend will be payable on October 19, 2024 to shareholders of record as of the close of business on October 11, 2024.

Timothy T. O'Dell, President and CEO, expressed satisfaction with the company's ability to reward shareholders with this increased dividend, emphasizing that it enhances total shareholder returns. He also acknowledged the confidence and support of the shareholders.

CF Bankshares Inc. (NASDAQ: CFBK) reported financial results for Q2 2024. Key highlights include:

• Net income of $1.7 million ($0.26 per diluted share)
• Pre-provision, pre-tax net revenue (PPNR) of $5.5 million
• Return on Average Equity (ROE) of 4.23% and PPNR ROE of 13.71%
• Return on Average Assets (ROA) of 0.34% and PPNR ROA of 1.10%
• Net Interest Margin (NIM) increased 3bps compared to previous quarter
• Service charge income up 64% year-over-year
• New commercial loan production of $16.8 million

Results were impacted by $3.1 million in additional specific reserves on two loan participations. Excluding this impact, adjusted core performance metrics would have been higher. The company declared a cash dividend of $0.06 per common share.