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.
C&F Financial Corporation (NASDAQ:CFFI) reported a record consolidated net income of $6.9 million or $1.86 per share for Q3 2020, up from $4.9 million or $1.42 per share in Q3 2019. For the first nine months of 2020, net income totaled $14.3 million or $3.87 per share, a slight decrease from $14.5 million in the same period of 2019. The community banking segment faced challenges with higher provisions for loan losses and increased expenses, impacting net income negatively. However, mortgage banking profits surged due to record loan production.
C&F Financial Corporation (NASDAQ:CFFI) announced the appointment of Dr. Jeffery O. Smith as a director effective September 15, 2020. With over 30 years in public education and currently the superintendent of Hampton City Schools, Dr. Smith brings valuable experience. He has been recognized as the 2020 Virginia Superintendent of the Year and has served on various boards including Sentara Healthcare and the Williamsburg Health Foundation. His leadership is expected to enhance C&F's organizational and community engagement.
The board of directors of C&F Financial Corporation (NASDAQ:CFFI) has declared a cash dividend of 38 cents per share. The dividend is payable on October 1, 2020, with a record date of September 15, 2020. The board regularly evaluates the dividend amount in light of economic conditions, capital requirements, and projected earnings. C&F operates 30 retail bank branches and provides a variety of financial services, including mortgage and auto loans across multiple states.
C&F Financial Corporation (NASDAQ:CFFI) reported a consolidated net income of $3.7 million or $1.03 per share for Q2 2020, down from $5.8 million or $1.69 per share in Q2 2019. For the first half of 2020, net income was $7.4 million ($2.01 per share), compared to $9.6 million ($2.77 per share) last year. The bank's average loans increased by 29.6% in Q2 2020, boosted by the acquisition of Peoples Bankshares and the Paycheck Protection Program. However, provisions for loan losses totaled $3.5 million for Q2, reflecting COVID-19 impacts.
The board of directors of CFFI has declared a cash dividend of 38 cents per share, payable on July 1, 2020, to shareholders of record on June 15, 2020. This decision reflects a continual review of cash dividends, balancing economic conditions with capital requirements and expected earnings. C&F operates 30 retail branches and three commercial loan offices in Virginia, offering a range of financial services, including mortgage and wealth management services through subsidiaries.