CF Bankshares Inc. reports news centered on its role as the holding company for CFBank, National Association, a nationally chartered boutique commercial bank serving markets that include Columbus, Cleveland, Cincinnati and Akron, Ohio, and Indianapolis, Indiana. Company updates describe commercial loans and equipment leases, commercial and residential real estate lending, treasury management deposits, residential mortgage lending, and full-service commercial and retail banking.
Recurring announcements cover quarterly and annual earnings, net interest margin, loan growth, deposit funding, credit quality, provision expense, noninterest income, and capital ratios at CFBank. Other releases address common and Series D preferred stock dividends, stock repurchase authorization activity, and additions to commercial and regional banking teams.
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CF Bankshares Inc. (NASDAQ: CFBK) has declared a quarterly cash dividend of $0.06 per share, reflecting a 20% increase over the previous quarterly dividend. This dividend is payable on April 28, 2023, to shareholders of record as of April 17, 2023. Timothy T. O'Dell, President and CEO, expressed satisfaction in rewarding shareholders with this increase, enhancing total shareholder return. CFBank, the bank under CF Bankshares, operates in key markets and has shown a compound annual growth rate (CAGR) of nearly 25% since its recapitalization in 2012.
CF Bankshares Inc. (NASDAQ: CFBK) reported a net income of $4.7 million ($0.72 per share) for Q4 2022, a 10% rise from Q3 2022. Full-year net income stood at $18.2 million ($2.78 per share). PPNR for Q4 was $6.5 million, up 20% from Q3, with a return on average assets of 1.04%. Net loans increased by $98 million to $1.6 billion, maintaining strong credit quality. The company is relocating its headquarters to Hamilton Quarter in February 2023, aiming for increased visibility and new banking opportunities. A cash dividend of $0.05 per share was declared for January 31, 2023.