Cf Bankshares Inc Stock Price, News & Analysis

CF Bankshares Inc. (NASDAQ: CFBK) reported a remarkable 220% increase in net income for Q1 2021, totaling $6.4 million compared to $2 million in Q1 2020. Earnings per share (EPS) reached $0.96. Total assets grew to $1.6 billion, with net loans increasing by 8% to $967 million. The bank maintained strong credit quality, with nonperforming loans at 0.04%. However, it anticipates a decrease in mortgage originations due to a challenging lending environment. Overall, the company is focusing on expanding its market presence, including a new branch in Indianapolis.

CF Bankshares Inc. (NASDAQ: CFBK) has declared a quarterly cash dividend of $0.03 per share, payable on May 3, 2021, to shareholders of record as of April 22, 2021. This announcement reinforces the company's commitment to returning value to its shareholders. CF Bank, the company's national bank, operates across major Ohio markets including Columbus, Cleveland, Cincinnati, and Akron, providing various personalized banking and financing services. The company continues to focus on closely held businesses, ensuring quick access to decision makers and efficient service.

Orion First Financial has been chosen by CF Bankshares Inc. (NASDAQ: CFBK) and its subsidiary CFBank to provide primary management services for their equipment finance and leasing operations. This partnership will enable CFBank to support its recent expansion into commercial equipment financing, catering to middle-market and small-ticket transactions. Orion will manage portfolio services such as contract booking and payment processing, while CFBank focuses on credit underwriting and origination. In 2019, the U.S. saw $51.4 billion in small-ticket equipment financing, indicating a growing market.

CF Bankshares (CFBK) reported impressive financial results for the year and quarter ending December 31, 2020, with net income more than tripling to $29.6 million, a 208% increase from 2019. Fourth quarter net income reached $7.3 million, up 143%. Return on average assets and equity were strong at 2.59% and 32.04%, respectively. Book value per share grew 35% to $16.79. Noninterest income surged 412% due to robust mortgage lending. Despite the pandemic, overall credit quality remained strong. The company plans to expand and leverage growth opportunities in 2021.

CF Bankshares Inc. (NASDAQ: CFBK) announced a stock repurchase program allowing the repurchase of up to 250,000 shares by February 27, 2022. The program aims to enhance shareholder value and reflects management's confidence in the company's intrinsic value. Shares may be repurchased through various means, including open market transactions, subject to regulatory compliance. President Timothy T. O'Dell emphasized that the buyback program demonstrates commitment to boosting shareholder value amidst ongoing economic challenges.

CF Bankshares Inc. (NASDAQ: CFBK) has declared a quarterly cash dividend of $0.03 per share. This dividend is set to be paid on February 1, 2021, to shareholders of record as of January 21, 2021. The company operates CFBank, which provides a variety of personalized banking services tailored for closely held businesses across major Ohio markets, including Columbus, Cleveland, Cincinnati, and Akron. CFBank focuses on offering quick access to decision-makers and modern banking solutions, such as online and mobile banking.

CF Bankshares Inc. (CFBK) announces Brad Ringwald as the new Chief Commercial Banking Officer at CFBank. With 25 years of experience, he previously held executive roles at large regional banks and has a proven track record in commercial banking. CEO Timothy O'Dell emphasizes that Ringwald's appointment supports the bank's growth strategy toward a $2 billion target. CFBank, known for its boutique banking model, operates in major Ohio markets and aims to leverage its capital resources for commercial growth opportunities.

CFBank has signed a purchase agreement with Consumers National Bank for two of its Ohio branches in Wellsville and Calcutta, involving approximately $100 million in deposits. Consumers will compensate CFBank with the net book value and a 1.75% deposit premium on the average daily deposits.

This strategic move is expected to enhance Consumers' market share to 12.5% in Columbiana County, while CFBank aims to focus on core markets. The transaction awaits regulatory approval and is projected to close in the second quarter of 2021.

CF Bankshares Inc. (CFBK) has appointed John J. Catalano as President of CFBank Equipment Finance. With over 30 years of industry experience, Catalano will lead efforts to establish a middle-market and small-ticket equipment finance operation, enhancing services for commercial businesses. His background includes executive roles at leasing firms and military service. The bank aims to expand its Equipment Financing services to create a national platform, complementing its existing Commercial Banking operations. CFBank operates in four major Ohio markets, focusing on personalized business banking.