C&F Financial Corp. Stock Price, News & Analysis

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.

The board of directors of C&F Financial Corporation (NASDAQ:CFFI) has declared a cash dividend of 44 cents per share, marking a 5% increase from the previous quarter's 42 cents. This dividend is payable on April 1, 2023, to shareholders of record on March 15, 2023. The board continuously evaluates the dividend amount based on economic conditions, capital requirements, and future earnings.

C&F Financial operates multiple banking and financial service branches across several states, including Virginia, Maryland, and North Carolina.

C&F Financial Corporation (NASDAQ: CFFI) reported a consolidated net income of $29.4 million for the year ended December 31, 2022, showing a slight increase from $29.1 million in 2021. Adjusted net income decreased by 10.1% to $27.0 million, impacted by the mortgage banking segment's 62.3% drop in loan originations due to rising interest rates. The community banking segment thrived, contributing $10.6 million in net income for Q4 2022, a significant rise from $3.2 million in Q4 2021, fueled by higher interest income. Total net income for Q4 2022 was $10.3 million, reflecting a 70.6% jump year-over-year.

C&F Financial Corporation (NASDAQ:CFFI) announced the appointment of Dr. Julie R. Agnew as a director, effective January 17, 2023. Dr. Agnew previously served on the board from 2017 to August 2022, when she left to work for an investment manager. Now returning to academia, she is the Richard C. Kraemer Term Professor at William & Mary’s Mason School of Business. CEO Tom Cherry expressed enthusiasm for Dr. Agnew's extensive expertise, which will benefit the Corporation. C&F Bank operates numerous offices across Virginia, offering a range of financial services including mortgage and wealth management.

C&F Financial Corporation (NASDAQ:CFFI) has declared a regular cash dividend of 42 cents per common share, payable on January 1, 2023 to shareholders recorded by December 15, 2022. Additionally, the board has authorized a stock repurchase program effective December 1, 2022, allowing repurchases of up to $10 million of common stock through December 31, 2023. This program follows a previous repurchase initiative that acquired 85,574 shares for $4.4 million since December 2021.

C&F Financial Corporation (NASDAQ: CFFI) reported a consolidated net income of $6.5 million for Q3 2022, down $1.3 million from Q3 2021. Year-to-date net income for 2022 stands at $19.1 million, a decline of $4.0 million year-on-year. Key highlights include an 8.6% growth in community banking loans and a substantial 26.2% increase in consumer finance loans. However, mortgage banking segment originations plummeted by nearly 49% amidst rising interest rates. A quarterly dividend of 42 cents per share was declared, reflecting a 5% increase from the previous quarter.

The board of directors of CFFI has declared a cash dividend of 42 cents per share, payable on October 1, 2022 to shareholders of record as of September 15, 2022. This marks a 5 percent increase from the previous dividend of 40 cents.

The Board regularly assesses cash dividends and payout ratios based on economic conditions and expected earnings.

C&F Financial Corporation (NASDAQ: CFFI) reported a consolidated net income of $6.8 million for Q2 2022, down $1.3 million from Q2 2021. For the first half of 2022, net income fell to $12.5 million, a decrease of $2.7 million year-over-year. The community banking segment demonstrated loan growth of 16.9% annualized, while the consumer finance segment saw a 40.7% increase. However, mortgage banking volumes dropped significantly by 44.6% in Q2 due to rising interest rates. The quarterly dividend remained consistent at $0.40 per share.

The board of directors of CFFI has declared a regular cash dividend of 40 cents per share, to be paid on July 1, 2022, for shareholders of record on June 15, 2022. This decision reflects the board's ongoing assessment of economic conditions, capital requirements, and anticipated earnings. C&F operates multiple banking and lending offices across Virginia and neighboring states, providing comprehensive financial services, including wealth management and mortgage origination.