CF BANKSHARES INC., PARENT OF CFBANK NA, REPORTS RESULTS FOR THE 3rd QUARTER 2026.
Lower credit-loss provision expense accompanied higher earnings, while overdue loans increased and recruiting costs lifted expenses.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
CF Bankshares (NASDAQ: CFBK) reported third-quarter 2026 net income of $6.0 million, with earnings rising from both comparison quarters. Diluted earnings per share were $0.91, versus $0.90 in the prior quarter and $0.36 a year earlier. Net interest income reached $14.9 million, and net interest margin widened to 2.96%. Nine-month net income rose to $17.0 million from $11.8 million.
Gross loans and leases reached $1.9 billion, up 2.2% from June, while deposits rose 1.6% to $1.9 billion. Noninterest expense increased 5.1% sequentially to $8.8 million as commercial banking recruitment continued. Loans at least 30 days past due rose to $30.8 million from $20.4 million; two loans driving the increase became current after quarter-end. Credit-loss provision expense fell to $551,000 from $944,000 in the prior quarter. Book value per share reached $29.83, up 10.5% year over year.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointQ3 net income of $6.0 million exceeded $5.9 million sequentially and $2.3 million a year earlier.
- Moderate pointNine-month net income reached $17.0 million, versus $11.8 million; diluted EPS rose to $2.59 from $1.81.
- Moderate pointNet interest income of $14.9 million increased 0.7% sequentially and 8.4% year over year.
- Moderate pointNet interest margin reached 2.96%, up 3 basis points sequentially and 20 basis points year over year.
- Moderate pointInterest expense declined 0.1% sequentially and 8.5% versus Q3 2025.
- Moderate pointNine-month pre-provision, pre-tax net revenue, a non-GAAP measure, rose to $22.6 million from $21.8 million.
- Moderate pointCommercial loan fundings totaled $79 million in Q3 and $357 million year to date.
- Moderate pointNet commercial loan growth reached $42 million in Q3 and $129 million year to date.
- Moderate pointGross loans and leases reached $1.9 billion, up 2.2% sequentially and 5.7% from December 31, 2025.
- Moderate pointDeposits reached $1.9 billion, up 1.6% sequentially and 4.3% from December 31, 2025.
- Moderate pointCredit-loss provision expense fell to $551,000, from $944,000 sequentially and $5.1 million a year earlier.
- Moderate pointStockholders’ equity reached $199.5 million, up 2.7% sequentially and 8.2% from December 31, 2025.
- Moderate pointBook value per share reached $29.83, up 10.5% year over year.
7 minor points
- Minor pointDiluted EPS of $0.91 compared with $0.90 sequentially and $0.36 in Q3 2025.
- Minor pointNoninterest income of $1.8 million increased 3.4% sequentially and 2.4% year over year.
- Minor pointCustomer fees increased 8% sequentially and 32% year to date versus the same 2025 period.
- Minor pointTwo overdue loans became current after quarter-end: a $6.7 million C&I loan and $5.9 million commercial real estate loan.
- Minor pointBorrowings declined to $99.2 million from $101.0 million at December 31, 2025; unchanged sequentially.
- Minor pointCommercial banking teams expanded during 2026; the company is also investing in mortgage lending staff.
- Minor point. Forward-looking: it has not happened yet and may not happen.The company expects growth to accelerate as more available capital is deployed into loan relationships.
Negative
- Moderate pointQ3 pre-provision, pre-tax net revenue was $7.9 million, versus $8.2 million sequentially and $7.8 million a year earlier.
- Moderate pointNoninterest expense rose to $8.8 million, up 5.1% sequentially and 13.4% year over year.
- Moderate pointLoans at least 30 days past due reached $30.8 million, versus $20.4 million sequentially and $12.9 million at year-end.
- Moderate pointNonaccrual loans were $20.4 million, or 1.10% of loans, down $478,000 sequentially but up $5.0 million from year-end.
- Minor pointNet charge-offs were $966,000, versus $106,000 net recoveries sequentially and $7.1 million net charge-offs a year earlier.
6 minor points
- Minor pointCredit-loss allowance fell to $19.0 million from $19.4 million sequentially; coverage declined to 1.03% from 1.07%.
- Minor pointNoninterest-bearing deposits decreased $922,000 sequentially and $12.8 million from December 31, 2025.
- Minor pointApproximately 31.2% of deposits exceeded FDIC insurance limits, versus approximately 32.0% sequentially and approximately 29.5% at year-end.
- Minor pointSingle-family residential loans decreased $4.1 million sequentially and $25.5 million from December 31, 2025.
- Minor pointCommercial and industrial loans decreased $932,000 sequentially, despite increasing $9.4 million from December 31, 2025.
- Minor pointQ3 income tax expense was $1.4 million, versus $373,000 a year earlier; effective rates were 18.4% and 13.8%.
News Explained
CF Bankshares paid its
Key Figures
- Net income
- $6.0 million
- Q3 2026; compared with $2.3 million in Q3 2025
- Diluted EPS
- $0.91 per diluted common share
- Q3 2026; compared with $0.36 in Q3 2025
- PPNR
- $7.9 million
- Q3 2026; compared with $8.2 million in Q2 2026 and $7.8 million in Q3 2025
- Net interest margin
- 2.96%
- Q3 2026; up 20 bps from Q3 2025
- Net commercial loan growth
- $42 million
- Q3 2026
- Customer fee growth
- 32%
- Year-to-date 2026 compared with the same period in 2025
- Book value per share
- $29.83
- As of September 30, 2026; up 10.5% year-over-year
- Cash dividend
- $0.09 per share
- Common stock dividend paid October 20, 2026
Historical Context
-
Reported higher net income, PPNR, and net interest margin alongside commercial loan and deposit growth.
-
Reported year-over-year increases in net income and PPNR, with net interest margin at 2.69%.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
ppnr financial
roe financial
roa financial
nim financial
tier 1 leverage ratio financial
non-gaap financial measure financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Third Quarter 2026 Highlights
- Net income for Q3 2026 was
$6.0 $0.91 $551,000 $7.9 million - Return on Average Equity (ROE) was
12.22% for Q3 2026, while Return on Average Assets (ROA) was1.14% . - Net Interest Margin (NIM) was
2.96% , an increase of 3bps when compared to the prior quarter and an increase of 20bps when compared to Q3 2025. - Commercial Loan Fundings of
$79 million $42 million $357 million $129 million - Customer Fees, including Treasury Management products and services increased
$71,000 8% , when compared to the prior quarter and have increased$660,000 32% year-to-date in 2026 when compared to the same period in 2025. - Book value per share increased to
$29.83 10.5% increase year-over-year. - CFBank's capital position remains strong with a Tier 1 Leverage Ratio of
11.99% and a Total Capital Ratio of14.69% .
Recent Developments
- On October 1, 2026, the Company's Board of Directors declared a cash dividend of
$0.09
CEO and Board Chair Commentary
Timothy T. O'Dell, President and CEO, commented, "We had strong net income of
Ongoing Investments particularly with building our Commercial Banking Teams and expanding our Regional Metro Markets presence, are producing increasing Commercial Business banking opportunities throughout the Five (5) metro Marketplaces we serve in
As an example, our Commercial Banking Team has generated over
Customer Fees, driven predominantly by Treasury Management Fees for Services, also have increased
During 2026, we have expanded considerably the size and depth of our Commercial Banking Team, which we believe will continue to fuel increasing quality Commercial growth opportunities, along with improving business mix through capturing greater numbers of full-service Banking (C&I) relationships.
Additionally, we are gaining traction with expanding our Private Banking Customers & Product offerings to closely held business owners and entrepreneurs.
Also, we are investing in Mortgage Lending, mostly through adding high performing Mortgage Loan Originators along with Regional Sales Leaders, capable of building Local and Regionally based Mortgage Lending Teams.
Looking ahead, we expect our rate of Growth to continue accelerating. As we deploy more available capital to work into Loan relationships, we see enhanced Earnings growth opportunity.
Our Best is Yet Ahead!"
Robert E. Hoeweler, Chairman of the Board, added, "Our team has been able to perform at the highest level in very trying economic times. The results of the 3rd quarter reflect the quality of the Management team we have been able to attract and keep. Our marching orders are to continue our profitable growth and build shareholder value. I wholehearted agree 'Our Best is Yet Ahead'!"
Overview of Results
Net income for the three months ended September 30, 2026 totaled
Net income for the nine months ended September 30, 2026 totaled
Net Interest Income and Net Interest Margin
Net interest income totaled
The increase in net interest income compared to the prior quarter was primarily due to a
The increase in net interest income compared to the third quarter of 2025 was primarily due to a
Noninterest Income
Noninterest income for the three months ended September 30, 2026 totaled
The following table represents the notional amount of loans sold during the three months ended September 30, 2026, June 30, 2026, and September 30, 2025 (in thousands).
|
|
|
Three Months ended |
|
||||||||||
|
|
|
September 30, |
|
|
June 30, |
|
|
September 30, |
|
||||
|
Notional amount of loans sold |
|
$ |
15,749 |
|
|
$ |
15,702 |
|
|
$ |
12,486 |
|
|
Noninterest Expense
Noninterest expense for the quarter ended September 30, 2026 totaled
The increase in noninterest expense when compared to the third quarter of 2025 was driven by a
Income Tax Expense
Income tax expense was
Loans and Leases
Gross loans and leases totaled
The increase in loans and leases balances when compared to December 31, 2025 was primarily due to a
The following table presents the principal balance outstanding of loans and leases for certain non-owner-occupied loan types (in thousands).
|
|
|
September 30, 2026 |
|
|
June 30, 2026 |
|
||
|
Construction – 1-4 family* |
|
$ |
12,856 |
|
|
$ |
14,210 |
|
|
Construction – Multi-family* |
|
|
190,563 |
|
|
|
175,814 |
|
|
Construction – Non-residential* |
|
|
22,139 |
|
|
|
24,641 |
|
|
Hotel/Motel |
|
|
4,436 |
|
|
|
11,295 |
|
|
Industrial / Warehouse |
|
|
89,837 |
|
|
|
85,307 |
|
|
Land/Land Development |
|
|
41,707 |
|
|
|
37,447 |
|
|
Medical/Healthcare/Senior Housing |
|
|
1,219 |
|
|
|
1,256 |
|
|
Multi-family |
|
|
274,533 |
|
|
|
244,075 |
|
|
Office |
|
|
29,846 |
|
|
|
39,295 |
|
|
Retail |
|
|
130,747 |
|
|
|
124,978 |
|
|
Other |
|
|
11,660 |
|
|
|
11,769 |
|
* CFBank possesses a core competency and deep expertise in Construction Lending. The construction lending business sector has produced many full banking relationships with proven developers with long successful track records.
Asset Quality
Nonaccrual loans were
Loans 30 days or more past due totaled
The allowance for credit losses on loans and leases totaled
There was
Deposits
Deposits totaled
At September 30, 2026, approximately
Borrowings
FHLB advances and other debt totaled
Capital
Stockholders' equity totaled
USE OF NON-GAAP FINANCIAL MEASURES
This earnings release contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in
Disclosures of non-GAAP financial measures should not be viewed as substitutes for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure is included at the end of this earnings release under the heading "GAAP TO NON-GAAP RECONCILIATION."
About CF Bankshares Inc. and CFBank
CF Bankshares Inc. (the "Company") is a bank holding company that owns
CFBank focuses on serving the financial needs of closely held businesses and entrepreneurs, by providing a comprehensive Commercial, Retail, and Mortgage Lending services presence. In all regional markets, CFBank provides commercial loans and equipment leases, commercial and residential real estate loans and treasury management depository services, residential mortgage lending, and full-service commercial and retail banking services and products. CFBank is differentiated by our penchant for individualized service coupled with direct customer access to decision-makers, and ease of doing business. CFBank matches the sophistication of much larger banks, without the bureaucracy.
Additional information about the Company and CFBank is available at www.CF.Bank
FORWARD LOOKING STATEMENTS
This press release and other materials we have filed or may file with the Securities and Exchange Commission ("SEC") contain or may contain forward-looking statements within the meaning of the safe harbor provisions of the
Forward-looking statements are not guarantees of performance or results. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable. We caution you, however, that assumptions or bases almost always vary from actual results, and the differences between assumptions or bases and actual results can be material. The forward-looking statements included in this press release speak only as of the date hereof. We undertake no obligation to publicly release revisions to any forward-looking statements to reflect events or circumstances after the date of such statements, except to the extent required by law.
|
Consolidated Statements of Income |
|||||||||||||||||||||||||||
|
($ in thousands, except share data) |
|||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||
|
(unaudited) |
Three months ended |
|
|
|
|
|
Nine months ended |
|
|
|
|
||||||||||||||||
|
|
September 30, |
|
|
|
|
|
September 30, |
|
|
|
|
||||||||||||||||
|
|
2026 |
|
|
2025 |
|
|
% change |
|
|
2026 |
|
|
2025 |
|
|
% change |
|
||||||||||
|
Total interest income |
$ |
|
30,114 |
|
|
$ |
|
30,369 |
|
|
|
-1 |
% |
|
$ |
|
88,266 |
|
|
$ |
|
89,928 |
|
|
|
-2 |
% |
|
Total interest expense |
|
|
15,165 |
|
|
|
|
16,579 |
|
|
|
-9 |
% |
|
|
|
45,153 |
|
|
|
|
49,228 |
|
|
|
-8 |
% |
|
Net interest income |
|
|
14,949 |
|
|
|
|
13,790 |
|
|
|
8 |
% |
|
|
|
43,113 |
|
|
|
|
40,700 |
|
|
|
6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Provision for credit losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Provision for credit losses-loans |
|
|
575 |
|
|
|
|
4,818 |
|
|
|
-88 |
% |
|
|
|
2,243 |
|
|
|
|
6,540 |
|
|
|
-66 |
% |
|
Provision for (recovery of) credit losses-unfunded |
|
|
(24) |
|
|
|
|
251 |
|
|
|
-110 |
% |
|
|
|
(144) |
|
|
|
|
538 |
|
|
|
-127 |
% |
|
|
|
|
551 |
|
|
|
|
5,069 |
|
|
|
-89 |
% |
|
|
|
2,099 |
|
|
|
|
7,078 |
|
|
|
-70 |
% |
|
Net interest income after provision for credit losses |
|
|
14,398 |
|
|
|
|
8,721 |
|
|
|
65 |
% |
|
|
|
41,014 |
|
|
|
|
33,622 |
|
|
|
22 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Noninterest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Service charges on deposit accounts |
|
|
988 |
|
|
|
|
696 |
|
|
|
42 |
% |
|
|
|
2,744 |
|
|
|
|
2,084 |
|
|
|
32 |
% |
|
Net gain on sales of residential mortgage loans |
|
|
172 |
|
|
|
|
209 |
|
|
|
-18 |
% |
|
|
|
467 |
|
|
|
|
529 |
|
|
|
-12 |
% |
|
Net loss on sales of commercial loans |
|
|
— |
|
|
|
|
— |
|
|
n/m |
|
|
|
|
— |
|
|
|
|
(18) |
|
|
n/m |
|
||
|
Net loss on sale of equity security |
|
|
— |
|
|
|
|
— |
|
|
n/m |
|
|
|
|
— |
|
|
|
|
(103) |
|
|
n/m |
|
||
|
Swap fee income |
|
|
143 |
|
|
|
|
228 |
|
|
|
-37 |
% |
|
|
|
387 |
|
|
|
|
424 |
|
|
|
-9 |
% |
|
Other |
|
|
456 |
|
|
|
|
585 |
|
|
|
-22 |
% |
|
|
|
1,349 |
|
|
|
|
1,588 |
|
|
|
-15 |
% |
|
Noninterest income |
|
|
1,759 |
|
|
|
|
1,718 |
|
|
|
2 |
% |
|
|
|
4,947 |
|
|
|
|
4,504 |
|
|
|
10 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Noninterest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Salaries and employee benefits |
|
|
4,551 |
|
|
|
|
3,800 |
|
|
|
20 |
% |
|
|
|
13,204 |
|
|
|
|
11,937 |
|
|
|
11 |
% |
|
Occupancy and equipment |
|
|
411 |
|
|
|
|
444 |
|
|
|
-7 |
% |
|
|
|
1,236 |
|
|
|
|
1,295 |
|
|
|
-5 |
% |
|
Data processing |
|
|
904 |
|
|
|
|
709 |
|
|
|
28 |
% |
|
|
|
2,449 |
|
|
|
|
2,066 |
|
|
|
19 |
% |
|
Franchise and other taxes |
|
|
386 |
|
|
|
|
303 |
|
|
|
27 |
% |
|
|
|
1,157 |
|
|
|
|
910 |
|
|
|
27 |
% |
|
Professional fees |
|
|
994 |
|
|
|
|
828 |
|
|
|
20 |
% |
|
|
|
2,662 |
|
|
|
|
2,514 |
|
|
|
6 |
% |
|
Director fees |
|
|
195 |
|
|
|
|
187 |
|
|
|
4 |
% |
|
|
|
555 |
|
|
|
|
544 |
|
|
|
2 |
% |
|
Postage, printing, and supplies |
|
|
31 |
|
|
|
|
23 |
|
|
|
35 |
% |
|
|
|
113 |
|
|
|
|
118 |
|
|
|
-4 |
% |
|
Advertising and marketing |
|
|
133 |
|
|
|
|
130 |
|
|
|
2 |
% |
|
|
|
596 |
|
|
|
|
258 |
|
|
|
131 |
% |
|
Telephone |
|
|
38 |
|
|
|
|
43 |
|
|
|
-12 |
% |
|
|
|
127 |
|
|
|
|
141 |
|
|
|
-10 |
% |
|
Loan expenses |
|
|
201 |
|
|
|
|
201 |
|
|
|
0 |
% |
|
|
|
605 |
|
|
|
|
722 |
|
|
|
-16 |
% |
|
Foreclosed assets, net |
|
|
1 |
|
|
|
|
10 |
|
|
|
-90 |
% |
|
|
|
6 |
|
|
|
|
14 |
|
|
|
-57 |
% |
|
Depreciation |
|
|
104 |
|
|
|
|
116 |
|
|
|
-10 |
% |
|
|
|
345 |
|
|
|
|
352 |
|
|
|
-2 |
% |
|
FDIC premiums |
|
|
408 |
|
|
|
|
506 |
|
|
|
-19 |
% |
|
|
|
1,229 |
|
|
|
|
1,586 |
|
|
|
-23 |
% |
|
Regulatory assessment |
|
|
46 |
|
|
|
|
33 |
|
|
|
39 |
% |
|
|
|
136 |
|
|
|
|
162 |
|
|
|
-16 |
% |
|
Other insurance |
|
|
60 |
|
|
|
|
49 |
|
|
|
22 |
% |
|
|
|
167 |
|
|
|
|
145 |
|
|
|
15 |
% |
|
Impairment of property and equipment |
|
|
37 |
|
|
|
|
— |
|
|
n/m |
|
|
|
|
128 |
|
|
|
|
— |
|
|
n/m |
|
||
|
Other |
|
|
264 |
|
|
|
|
344 |
|
|
|
-23 |
% |
|
|
|
698 |
|
|
|
|
670 |
|
|
|
4 |
% |
|
Noninterest expense |
|
|
8,764 |
|
|
|
|
7,726 |
|
|
|
13 |
% |
|
|
|
25,413 |
|
|
|
|
23,434 |
|
|
|
8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Income before income taxes |
|
|
7,393 |
|
|
|
|
2,713 |
|
|
|
173 |
% |
|
|
|
20,548 |
|
|
|
|
14,692 |
|
|
|
40 |
% |
|
Income tax expense |
|
|
1,360 |
|
|
|
|
373 |
|
|
|
265 |
% |
|
|
|
3,579 |
|
|
|
|
2,887 |
|
|
|
24 |
% |
|
Net income |
|
|
6,033 |
|
|
|
|
2,340 |
|
|
|
158 |
% |
|
|
|
16,969 |
|
|
|
|
11,805 |
|
|
|
44 |
% |
|
Earnings allocated to participating securities (Series |
|
|
(109) |
|
|
|
|
(72) |
|
|
n/m |
|
|
|
|
(448) |
|
|
|
|
(364) |
|
|
n/m |
|
||
|
Net Income attributable to common stockholders |
$ |
|
5,924 |
|
|
$ |
|
2,268 |
|
|
|
161 |
% |
|
$ |
|
16,521 |
|
|
$ |
|
11,441 |
|
|
|
44 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Share Data |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Basic earnings per common share |
$ |
|
0.92 |
|
|
$ |
|
0.36 |
|
|
|
|
|
$ |
|
2.61 |
|
|
$ |
|
1.82 |
|
|
|
|
||
|
Diluted earnings per common share |
$ |
|
0.91 |
|
|
$ |
|
0.36 |
|
|
|
|
|
$ |
|
2.59 |
|
|
$ |
|
1.81 |
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Average common shares outstanding - basic |
|
|
6,408,370 |
|
|
|
|
6,292,698 |
|
|
|
|
|
|
|
6,338,857 |
|
|
|
|
6,292,950 |
|
|
|
|
||
|
Average common shares outstanding - diluted |
|
|
6,475,440 |
|
|
|
|
6,346,243 |
|
|
|
|
|
|
|
6,382,801 |
|
|
|
|
6,325,600 |
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
n/m - not meaningful |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Consolidated Statements of Financial Condition |
||||||||||||||||||||||||
|
|
||||||||||||||||||||||||
|
($ in thousands) |
Sept 30, |
|
|
Jun 30, |
|
|
Mar 31, |
|
|
Dec 31, |
|
|
Sept 30, |
|
||||||||||
|
(unaudited) |
2026 |
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
2025 |
|
||||||||||
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Cash and cash equivalents |
$ |
|
248,596 |
|
|
$ |
|
253,103 |
|
|
$ |
|
267,759 |
|
|
$ |
|
258,972 |
|
|
$ |
|
272,361 |
|
|
Interest-bearing deposits in other financial institutions |
|
|
100 |
|
|
|
|
100 |
|
|
|
|
100 |
|
|
|
|
100 |
|
|
|
|
100 |
|
|
Securities available for sale |
|
|
16,532 |
|
|
|
|
17,223 |
|
|
|
|
17,395 |
|
|
|
|
17,496 |
|
|
|
|
9,199 |
|
|
Loans held for sale |
|
|
2,431 |
|
|
|
|
4,392 |
|
|
|
|
3,634 |
|
|
|
|
5,611 |
|
|
|
|
2,484 |
|
|
Loans and leases |
|
|
1,857,338 |
|
|
|
|
1,818,020 |
|
|
|
|
1,779,903 |
|
|
|
|
1,756,532 |
|
|
|
|
1,745,125 |
|
|
Less allowance for credit losses on loans and leases |
|
|
(19,045) |
|
|
|
|
(19,436) |
|
|
|
|
(18,641) |
|
|
|
|
(17,678) |
|
|
|
|
(16,841) |
|
|
Loans and leases, net |
|
|
1,838,293 |
|
|
|
|
1,798,584 |
|
|
|
|
1,761,262 |
|
|
|
|
1,738,854 |
|
|
|
|
1,728,284 |
|
|
FHLB and FRB stock |
|
|
8,389 |
|
|
|
|
8,375 |
|
|
|
|
8,364 |
|
|
|
|
8,354 |
|
|
|
|
8,343 |
|
|
Foreclosed assets, net |
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
Premises and equipment, net |
|
|
3,260 |
|
|
|
|
3,372 |
|
|
|
|
3,533 |
|
|
|
|
3,547 |
|
|
|
|
3,616 |
|
|
Operating lease right of use assets |
|
|
5,531 |
|
|
|
|
5,693 |
|
|
|
|
5,859 |
|
|
|
|
5,680 |
|
|
|
|
5,848 |
|
|
Bank owned life insurance |
|
|
28,803 |
|
|
|
|
28,546 |
|
|
|
|
28,294 |
|
|
|
|
28,049 |
|
|
|
|
27,810 |
|
|
Accrued interest receivable and other assets |
|
|
60,265 |
|
|
|
|
50,198 |
|
|
|
|
49,576 |
|
|
|
|
50,658 |
|
|
|
|
52,972 |
|
|
Total assets |
$ |
|
2,212,200 |
|
|
$ |
|
2,169,586 |
|
|
$ |
|
2,145,776 |
|
|
$ |
|
2,117,321 |
|
|
$ |
|
2,111,017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Noninterest bearing |
$ |
|
272,703 |
|
|
$ |
|
273,625 |
|
|
$ |
|
240,645 |
|
|
$ |
|
285,523 |
|
|
$ |
|
277,629 |
|
|
Interest bearing |
|
|
1,584,481 |
|
|
|
|
1,555,031 |
|
|
|
|
1,568,797 |
|
|
|
|
1,495,166 |
|
|
|
|
1,500,977 |
|
|
Total deposits |
|
|
1,857,184 |
|
|
|
|
1,828,656 |
|
|
|
|
1,809,442 |
|
|
|
|
1,780,689 |
|
|
|
|
1,778,606 |
|
|
FHLB advances and other debt |
|
|
99,240 |
|
|
|
|
99,231 |
|
|
|
|
100,973 |
|
|
|
|
100,964 |
|
|
|
|
100,956 |
|
|
Advances by borrowers for taxes and insurance |
|
|
1,472 |
|
|
|
|
2,354 |
|
|
|
|
1,292 |
|
|
|
|
2,523 |
|
|
|
|
1,479 |
|
|
Operating lease liabilities |
|
|
5,766 |
|
|
|
|
5,917 |
|
|
|
|
6,071 |
|
|
|
|
5,878 |
|
|
|
|
6,033 |
|
|
Accrued interest payable and other liabilities |
|
|
33,936 |
|
|
|
|
24,034 |
|
|
|
|
23,995 |
|
|
|
|
27,802 |
|
|
|
|
29,623 |
|
|
Subordinated debentures |
|
|
15,068 |
|
|
|
|
15,058 |
|
|
|
|
15,048 |
|
|
|
|
15,039 |
|
|
|
|
15,029 |
|
|
Total liabilities |
|
|
2,012,666 |
|
|
|
|
1,975,250 |
|
|
|
|
1,956,821 |
|
|
|
|
1,932,895 |
|
|
|
|
1,931,726 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Stockholders' equity |
|
|
199,534 |
|
|
|
|
194,336 |
|
|
|
|
188,955 |
|
|
|
|
184,426 |
|
|
|
|
179,291 |
|
|
Total liabilities and stockholders' equity |
$ |
|
2,212,200 |
|
|
$ |
|
2,169,586 |
|
|
$ |
|
2,145,776 |
|
|
$ |
|
2,117,321 |
|
|
$ |
|
2,111,017 |
|
|
Average Balance Sheet and Yield Analysis |
||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||
|
|
For Three Months Ended |
|||||||||||||||||||||||||
|
|
September 30, 2026 |
|
June 30, 2026 |
|
September 30, 2025 |
|||||||||||||||||||||
|
|
Average |
|
Interest |
|
Average |
|
Average |
|
Interest |
|
Average |
|
Average |
|
Interest |
|
Average |
|||||||||
|
|
Outstanding |
|
Earned/ |
|
Yield/ |
|
Outstanding |
|
Earned/ |
|
Yield/ |
|
Outstanding |
|
Earned/ |
|
Yield/ |
|||||||||
|
|
Balance |
|
Paid |
|
Rate |
|
Balance |
|
Paid |
|
Rate |
|
Balance |
|
Paid |
|
Rate |
|||||||||
|
|
(Dollars in thousands) |
|||||||||||||||||||||||||
|
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities (1) (2) |
$ |
17,143 |
|
$ |
156 |
|
|
3.23 % |
|
$ |
17,396 |
|
$ |
175 |
|
|
3.62 % |
|
$ |
8,999 |
|
$ |
55 |
|
|
2.00 % |
|
Loans and leases and loans |
|
1,801,881 |
|
|
28,045 |
|
|
6.23 % |
|
|
1,764,433 |
|
|
27,510 |
|
|
6.24 % |
|
|
1,734,706 |
|
|
27,407 |
|
|
6.32 % |
|
Other earning assets |
|
187,477 |
|
|
1,774 |
|
|
3.78 % |
|
|
236,107 |
|
|
2,196 |
|
|
3.72 % |
|
|
245,301 |
|
|
2,753 |
|
|
4.49 % |
|
FHLB and FRB stock |
|
8,383 |
|
|
139 |
|
|
6.63 % |
|
|
8,368 |
|
|
141 |
|
|
6.74 % |
|
|
8,214 |
|
|
154 |
|
|
7.50 % |
|
Total interest-earning |
|
2,014,884 |
|
|
30,114 |
|
|
5.97 % |
|
|
2,026,304 |
|
|
30,022 |
|
|
5.92 % |
|
|
1,997,220 |
|
|
30,369 |
|
|
6.08 % |
|
Noninterest-earning assets |
|
103,567 |
|
|
|
|
|
|
|
|
102,344 |
|
|
|
|
|
|
|
|
103,828 |
|
|
|
|
|
|
|
Total assets |
$ |
2,118,451 |
|
|
|
|
|
|
|
$ |
2,128,648 |
|
|
|
|
|
|
|
$ |
2,101,048 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
$ |
1,515,289 |
|
$ |
13,753 |
|
|
3.63 % |
|
$ |
1,487,547 |
|
$ |
13,812 |
|
|
3.71 % |
|
$ |
1,493,145 |
|
$ |
15,205 |
|
|
4.07 % |
|
FHLB advances and other |
|
114,299 |
|
|
1,412 |
|
|
4.94 % |
|
|
115,223 |
|
|
1,366 |
|
|
4.74 % |
|
|
115,978 |
|
|
1,374 |
|
|
4.74 % |
|
Total interest-bearing |
|
1,629,588 |
|
|
15,165 |
|
|
3.72 % |
|
|
1,602,770 |
|
|
15,178 |
|
|
3.79 % |
|
|
1,609,123 |
|
|
16,579 |
|
|
4.12 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing |
|
291,386 |
|
|
|
|
|
|
|
|
333,819 |
|
|
|
|
|
|
|
|
312,058 |
|
|
|
|
|
|
|
Total liabilities |
|
1,920,974 |
|
|
|
|
|
|
|
|
1,936,589 |
|
|
|
|
|
|
|
|
1,921,181 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity |
|
197,477 |
|
|
|
|
|
|
|
|
192,059 |
|
|
|
|
|
|
|
|
179,867 |
|
|
|
|
|
|
|
Total liabilities and |
$ |
2,118,451 |
|
|
|
|
|
|
|
$ |
2,128,648 |
|
|
|
|
|
|
|
$ |
2,101,048 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest-earning assets |
$ |
385,296 |
|
|
|
|
|
|
|
$ |
423,534 |
|
|
|
|
|
|
|
$ |
388,097 |
|
|
|
|
|
|
|
Net interest income/interest |
|
|
|
$ |
14,949 |
|
|
2.25 % |
|
|
|
|
$ |
14,844 |
|
|
2.13 % |
|
|
|
|
$ |
13,790 |
|
|
1.96 % |
|
Net interest margin |
|
|
|
|
|
|
|
2.96 % |
|
|
|
|
|
|
|
|
2.93 % |
|
|
|
|
|
|
|
|
2.76 % |
|
Average interest-earning |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to average interest-bearing |
|
123.64 % |
|
|
|
|
|
|
|
|
126.43 % |
|
|
|
|
|
|
|
|
124.12 % |
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||
|
(1) |
Average balance is computed using the carrying value of securities. Average yield is computed using the historical amortized cost average balance for available for sale securities. |
||||||||||||||||||||||||||
|
(2) |
Average yields and interest earned are stated on a fully taxable equivalent basis. |
||||||||||||||||||||||||||
|
(3) |
Average balance is computed using the recorded investment in loans net of the allowance for credit losses on loans and leases and includes nonperforming loans and leases. |
||||||||||||||||||||||||||
|
|
Consolidated Financial Highlights |
|||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||
|
|
|
|
At or for the three months ended |
|
|
Nine months ended |
|
|||||||||||||||||||||||||||||
|
|
($ in thousands except per share data) |
|
Sept 30, |
|
|
Jun 30, |
|
|
Mar 31, |
|
|
Dec 31, |
|
|
Sept 30, |
|
|
|
Sept 30, |
|
||||||||||||||||
|
|
(unaudited) |
|
2026 |
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
||||||||||||
|
|
Earnings and Dividends |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Net interest income |
|
$ |
|
14,949 |
|
|
$ |
|
14,844 |
|
|
$ |
|
13,320 |
|
|
$ |
|
14,323 |
|
|
$ |
|
13,790 |
|
|
$ |
|
43,113 |
|
|
$ |
|
40,700 |
|
|
|
Provision for credit losses |
|
$ |
|
551 |
|
|
$ |
|
944 |
|
|
$ |
|
604 |
|
|
$ |
|
1,169 |
|
|
$ |
|
5,069 |
|
|
$ |
|
2,099 |
|
|
$ |
|
7,078 |
|
|
|
Noninterest income |
|
$ |
|
1,759 |
|
|
$ |
|
1,701 |
|
|
$ |
|
1,487 |
|
|
$ |
|
1,423 |
|
|
$ |
|
1,718 |
|
|
$ |
|
4,947 |
|
|
$ |
|
4,504 |
|
|
|
Noninterest expense |
|
$ |
|
8,764 |
|
|
$ |
|
8,338 |
|
|
$ |
|
8,311 |
|
|
$ |
|
7,742 |
|
|
$ |
|
7,726 |
|
|
$ |
|
25,413 |
|
|
$ |
|
23,434 |
|
|
|
Net income |
|
$ |
|
6,033 |
|
|
$ |
|
5,912 |
|
|
$ |
|
5,024 |
|
|
$ |
|
5,736 |
|
|
$ |
|
2,340 |
|
|
$ |
|
16,969 |
|
|
$ |
|
11,805 |
|
|
|
Basic earnings per common share |
|
$ |
|
0.92 |
|
|
$ |
|
0.91 |
|
|
$ |
|
0.77 |
|
|
$ |
|
0.88 |
|
|
$ |
|
0.36 |
|
|
$ |
|
2.61 |
|
|
$ |
|
1.82 |
|
|
|
Diluted earnings per common share |
|
$ |
|
0.91 |
|
|
$ |
|
0.90 |
|
|
$ |
|
0.77 |
|
|
$ |
|
0.88 |
|
|
$ |
|
0.36 |
|
|
$ |
|
2.59 |
|
|
$ |
|
1.81 |
|
|
|
Dividends declared per share |
|
$ |
|
0.09 |
|
|
$ |
|
0.09 |
|
|
$ |
|
0.09 |
|
|
$ |
|
0.08 |
|
|
$ |
|
0.08 |
|
|
$ |
|
0.27 |
|
|
$ |
|
0.22 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Performance Ratios (annualized) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Return on average assets |
|
|
|
1.14 |
% |
|
|
|
1.11 |
% |
|
|
|
0.97 |
% |
|
|
|
1.09 |
% |
|
|
|
0.45 |
% |
|
|
|
1.07 |
% |
|
|
|
0.76 |
% |
|
|
Return on average equity |
|
|
|
12.22 |
% |
|
|
|
12.31 |
% |
|
|
|
10.74 |
% |
|
|
|
12.59 |
% |
|
|
|
5.20 |
% |
|
|
|
11.77 |
% |
|
|
|
8.97 |
% |
|
|
Average yield on interest-earning assets |
|
|
|
5.97 |
% |
|
|
|
5.92 |
% |
|
|
|
5.67 |
% |
|
|
|
5.98 |
% |
|
|
|
6.08 |
% |
|
|
|
5.86 |
% |
|
|
|
6.06 |
% |
|
|
Average rate paid on interest-bearing |
|
|
|
3.72 |
% |
|
|
|
3.79 |
% |
|
|
|
3.64 |
% |
|
|
|
3.91 |
% |
|
|
|
4.12 |
% |
|
|
|
3.67 |
% |
|
|
|
4.14 |
% |
|
|
Average interest rate spread |
|
|
|
2.25 |
% |
|
|
|
2.13 |
% |
|
|
|
2.03 |
% |
|
|
|
2.07 |
% |
|
|
|
1.96 |
% |
|
|
|
2.19 |
% |
|
|
|
1.92 |
% |
|
|
Net interest margin, fully taxable |
|
|
|
2.96 |
% |
|
|
|
2.93 |
% |
|
|
|
2.69 |
% |
|
|
|
2.85 |
% |
|
|
|
2.76 |
% |
|
|
|
2.86 |
% |
|
|
|
2.74 |
% |
|
|
Efficiency ratio (3) |
|
|
|
52.45 |
% |
|
|
|
50.40 |
% |
|
|
|
56.13 |
% |
|
|
|
49.17 |
% |
|
|
|
49.82 |
% |
|
|
|
52.88 |
% |
|
|
|
51.84 |
% |
|
|
Noninterest expense to average assets |
|
|
|
1.65 |
% |
|
|
|
1.57 |
% |
|
|
|
1.60 |
% |
|
|
|
1.47 |
% |
|
|
|
1.47 |
% |
|
|
|
1.61 |
% |
|
|
|
1.50 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Tier 1 capital leverage ratio (1) |
|
|
|
11.99 |
% |
|
|
|
11.64 |
% |
|
|
|
11.76 |
% |
|
|
|
11.40 |
% |
|
|
|
11.19 |
% |
|
|
|
11.99 |
% |
|
|
|
11.19 |
% |
|
|
Total risk-based capital ratio (1) |
|
|
|
14.69 |
% |
|
|
|
14.76 |
% |
|
|
|
15.15 |
% |
|
|
|
15.02 |
% |
|
|
|
14.88 |
% |
|
|
|
14.69 |
% |
|
|
|
14.88 |
% |
|
|
Tier 1 risk-based capital ratio (1) |
|
|
|
13.54 |
% |
|
|
|
13.55 |
% |
|
|
|
13.95 |
% |
|
|
|
13.85 |
% |
|
|
|
13.74 |
% |
|
|
|
13.54 |
% |
|
|
|
13.74 |
% |
|
|
Common equity tier 1 capital to risk |
|
|
|
13.54 |
% |
|
|
|
13.55 |
% |
|
|
|
13.95 |
% |
|
|
|
13.85 |
% |
|
|
|
13.74 |
% |
|
|
|
13.54 |
% |
|
|
|
13.74 |
% |
|
|
Equity to total assets at end of period |
|
|
|
9.02 |
% |
|
|
|
8.96 |
% |
|
|
|
8.81 |
% |
|
|
|
8.71 |
% |
|
|
|
8.49 |
% |
|
|
|
9.02 |
% |
|
|
|
8.49 |
% |
|
|
Book value per common share |
|
$ |
|
29.83 |
|
|
$ |
|
29.04 |
|
|
$ |
|
28.20 |
|
|
$ |
|
27.87 |
|
|
$ |
|
26.99 |
|
|
$ |
|
29.83 |
|
|
$ |
|
26.99 |
|
|
|
Tangible book value per common share |
|
$ |
|
29.83 |
|
|
$ |
|
29.04 |
|
|
$ |
|
28.20 |
|
|
$ |
|
27.87 |
|
|
$ |
|
26.99 |
|
|
$ |
|
29.83 |
|
|
$ |
|
26.99 |
|
|
|
Period-end market value per common |
|
$ |
|
33.92 |
|
|
$ |
|
32.77 |
|
|
$ |
|
27.91 |
|
|
$ |
|
24.95 |
|
|
$ |
|
23.95 |
|
|
$ |
|
33.92 |
|
|
$ |
|
23.95 |
|
|
|
Period-end common shares outstanding |
|
|
|
6,689,655 |
|
|
|
|
6,492,212 |
|
|
|
|
6,499,617 |
|
|
|
|
6,418,349 |
|
|
|
|
6,443,775 |
|
|
|
|
6,689,655 |
|
|
|
|
6,443,775 |
|
|
|
Average basic common shares |
|
|
|
6,408,370 |
|
|
|
|
6,320,561 |
|
|
|
|
6,286,297 |
|
|
|
|
6,281,531 |
|
|
|
|
6,292,698 |
|
|
|
|
6,338,857 |
|
|
|
|
6,292,950 |
|
|
|
Average diluted common shares |
|
|
|
6,475,440 |
|
|
|
|
6,363,549 |
|
|
|
|
6,308,071 |
|
|
|
|
6,350,488 |
|
|
|
|
6,346,243 |
|
|
|
|
6,382,801 |
|
|
|
|
6,325,600 |
|
|
|
Asset Quality |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Nonperforming loans |
|
$ |
|
20,357 |
|
|
$ |
|
20,835 |
|
|
$ |
|
20,313 |
|
|
$ |
|
15,329 |
|
|
$ |
|
10,034 |
|
|
$ |
|
20,357 |
|
|
$ |
|
10,034 |
|
|
|
Nonperforming loans to total loans |
|
|
|
1.10 |
% |
|
|
|
1.15 |
% |
|
|
|
1.14 |
% |
|
|
|
0.87 |
% |
|
|
|
0.57 |
% |
|
|
|
1.10 |
% |
|
|
|
0.57 |
% |
|
|
Nonperforming assets to total assets |
|
|
|
0.92 |
% |
|
|
|
0.96 |
% |
|
|
|
0.95 |
% |
|
|
|
0.72 |
% |
|
|
|
0.48 |
% |
|
|
|
0.92 |
% |
|
|
|
0.48 |
% |
|
|
Allowance for credit losses on loans |
|
|
|
1.03 |
% |
|
|
|
1.07 |
% |
|
|
|
1.05 |
% |
|
|
|
1.01 |
% |
|
|
|
0.97 |
% |
|
|
|
1.03 |
% |
|
|
|
0.97 |
% |
|
|
Allowance for credit losses on loans |
|
|
|
93.56 |
% |
|
|
|
93.29 |
% |
|
|
|
91.77 |
% |
|
|
|
115.32 |
% |
|
|
|
167.84 |
% |
|
|
|
93.56 |
% |
|
|
|
167.84 |
% |
|
|
Net charge-offs (recoveries) |
|
$ |
|
966 |
|
|
$ |
|
(106 |
) |
|
$ |
|
16 |
|
|
$ |
|
131 |
|
|
$ |
|
7,099 |
|
|
$ |
|
876 |
|
|
$ |
|
7,173 |
|
|
|
Annualized net charge-offs (recoveries) |
|
|
|
0.21 |
% |
|
|
|
(0.02 |
%) |
|
|
|
0.00 |
% |
|
|
|
0.03 |
% |
|
|
|
1.62 |
% |
|
|
|
0.07 |
% |
|
|
|
0.54 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Average Balances |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Loans |
|
$ |
|
1,817,199 |
|
|
$ |
|
1,778,891 |
|
|
$ |
|
1,753,016 |
|
|
$ |
|
1,739,982 |
|
|
$ |
|
1,750,950 |
|
|
$ |
|
1,783,270 |
|
|
$ |
|
1,763,500 |
|
|
|
Assets |
|
$ |
|
2,118,451 |
|
|
$ |
|
2,128,648 |
|
|
$ |
|
2,081,641 |
|
|
$ |
|
2,110,826 |
|
|
$ |
|
2,101,048 |
|
|
$ |
|
2,109,715 |
|
|
$ |
|
2,076,518 |
|
|
|
Stockholders' equity |
|
$ |
|
197,477 |
|
|
$ |
|
192,059 |
|
|
$ |
|
187,177 |
|
|
$ |
|
182,312 |
|
|
$ |
|
179,867 |
|
|
$ |
|
192,276 |
|
|
$ |
|
175,469 |
|
|
|
|
|||||||||||||||||||||||||||||||||||
|
(1) |
Regulatory capital ratios of CFBank |
|||||||||||||||||||||||||||||||||||
|
(2) |
There are no differences between book value per common share and tangible book value per common share since the Company does not have any intangible assets. |
|||||||||||||||||||||||||||||||||||
|
(3) |
The efficiency ratio equals noninterest expense (excluding amortization of intangibles and foreclosed asset writedowns) divided by net interest income plus noninterest income (excluding gains or losses on securities transactions). |
|||||||||||||||||||||||||||||||||||
GAAP TO NON-GAAP RECONCILIATION
The following non-GAAP financial measure used by the Company provides information useful to investors in understanding the Company's operating performance and trends and facilitates comparisons with the performance of peers. The following table summarizes the non-GAAP financial measure derived from amounts reported in the Company's consolidated financial statements:
|
Pre-provision, pre-tax net revenue ("PPNR") |
||||||||||||||||||||||||
|
|
||||||||||||||||||||||||
|
|
Three Months Ended |
|
|
Nine months ended |
|
|||||||||||||||||||
|
|
September 30, |
|
|
June 30, |
|
|
September 30, |
|
|
September 30, |
|
|||||||||||||
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||||||||
|
Net income |
$ |
|
6,033 |
|
|
$ |
|
5,912 |
|
|
$ |
|
2,340 |
|
|
$ |
|
16,969 |
|
|
$ |
|
11,805 |
|
|
Add: Provision for credit losses |
|
|
551 |
|
|
|
|
944 |
|
|
|
|
5,069 |
|
|
|
|
2,099 |
|
|
|
|
7,078 |
|
|
Add: Income tax expense |
|
|
1,360 |
|
|
|
|
1,351 |
|
|
|
|
373 |
|
|
|
|
3,579 |
|
|
|
|
2,887 |
|
|
Pre-provision, pre-tax net revenue |
$ |
|
7,944 |
|
|
$ |
|
8,207 |
|
|
$ |
|
7,782 |
|
|
$ |
|
22,647 |
|
|
$ |
|
21,770 |
|
View original content to download multimedia:https://www.prnewswire.com/news-releases/cf-bankshares-inc-parent-of-cfbank-na-reports-results-for-the-3rd-quarter-2026-302919880.html
SOURCE CF BANKSHARES INC.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were CFBank’s capital ratios and returns in Q3 2026?
CFBank’s Tier 1 leverage ratio was 11.99% and its total capital ratio was 14.69%. For Q3 2026, CF Bankshares reported return on average equity of 12.22% and return on average assets of 1.14%.