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CF Bankshares Inc (CFBK), the Ohio-based holding company for CFBank, provides investors and stakeholders with timely updates through this dedicated news hub. Track official press releases and curated financial coverage spanning commercial lending developments, treasury management innovations, and regional market expansions.
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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.
CF Bankshares Inc. (NASDAQ: CFBK), the parent company of CFBank, NA, announced a quarterly cash dividend. Shareholders of common stock will receive $0.06 per share, while Series D preferred stockholders will receive $6.00 per share. Each Series D preferred stock is convertible into 100 shares of common stock. The dividends are payable on July 19, 2024, to shareholders registered by July 11, 2024.
CF Bankshares Inc., parent of CFBank NA, reported strong financial results for the first quarter of 2024. Net income was $3.1 million with a ROE of 7.80% and PPNR ROE of 12.71%. Core deposit balances increased, new commercial loan production was $37.3 million, and key leadership additions were made. A cash dividend was declared, and business initiatives aim for fee income growth. Nonaccrual loans increased, but the company remains well-positioned for new business opportunities.
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