Welcome to our dedicated page for C&F Financial news (Ticker: CFFI), a resource for investors and traders seeking the latest updates and insights on C&F Financial stock.
C&F Financial Corporation reports recurring developments as a bank holding company for C&F Bank. Company updates center on consolidated earnings, segment performance, net interest trends, capital levels and regular cash dividends. Its operating activities include community banking, mortgage banking and consumer finance.
C&F news also covers governance actions and business-unit disclosures tied to C&F Bank, C&F Wealth Management, C&F Mortgage Corporation, C&F Select and C&F Finance Company. The company’s releases describe banking and commercial lending in Virginia, mortgage origination in Virginia and surrounding states, and indirect automobile, marine and recreational vehicle lending across multiple U.S. regions.
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C&F Financial Corporation (NASDAQ: CFFI) reported a consolidated net income of $6.5 million for Q1 2023, a 13.3% increase from Q1 2022. Earnings per share rose to $1.86, with an annualized return on average equity of 12.87%. The community banking segment experienced an 83% increase in earnings, driven by higher net interest income and loan growth. However, the mortgage banking and consumer finance segments faced challenges: mortgage loan originations decreased by 39% year-over-year, while the consumer finance segment's net income dropped 76%. Total deposits fell slightly by 1.6% annualized, but liquidity remains strong with a borrowing availability of $658.3 million. The quarterly cash dividend was raised by 5% to $0.44 per share.