[SCHEDULE 13D/A] CF Bankshares Inc. SEC Filing

Rhea-AI Filing Summary

Castle Creek Capital Partners VII, LP amended its Schedule 13D to report recent open-market sales of CF Bankshares Inc. (CFBK) common stock. Between August 25 and August 27, 2025, Fund VII sold 72,177 shares for proceeds of $1,777,591.42, leaving the fund with 303,148 Voting Common Stock shares. The filing reports Fund VII is deemed to beneficially own 600,928 shares (approximately 9.9% of Voting Common Stock), which includes 297,780 shares issuable upon conversion of certain Non-Voting Common Stock subject to an ownership cap. The amendment discloses weighted-average sale prices (about $24.58–$24.70) and clarifies shared voting and dispositive power with CCC VII.

Positive

• Timely and specific disclosure of recent open-market transactions, including share counts, proceeds, and weighted-average prices
• Clarification of beneficial ownership that includes convertible shares and explains the effect of the Ownership Cap

Negative

• Fund VII sold 72,177 shares over three days, reducing its direct voting shares to 303,148
• Reported stake remains concentrated at approximately 9.9% beneficial ownership, which may maintain significant influence

Insights

Financial Analyst

TL;DR: Fund VII trimmed its stake via broker-assisted sales, remains a near-10% beneficial holder; sales generated $1.78M and reduced on‑hand voting shares.

Fund VII executed 72,177 open-market share sales over three days at weighted-average prices around $24.6–$24.7, producing $1,777,591.42 net. Post-sales, Fund VII directly holds 303,148 voting shares but is deemed to beneficially own 600,928 shares when accounting for convertible non-voting shares subject to the Ownership Cap. The disclosure is detailed and timely, enabling investors to update ownership and potential voting-power calculations; no financial performance metrics are provided in this amendment.

Corporate Governance Expert

TL;DR: Amendment clarifies voting/dispositive arrangements and conversion math; shared control with CCC VII remains in place.

The filing restates that Fund VII shares voting and dispositive power with Castle Creek Capital VII LLC (CCC VII) and disclaims beneficial ownership by CCC VII except for pecuniary interest. It also specifies how conversion of Non-Voting Common Stock interacts with the Ownership Cap to determine reported beneficial ownership (600,928 shares, ~9.9%). The disclosure improves transparency around control and potential dilution from conversions but does not indicate any change to governance agreements.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 13)

CF BANKSHARES INC.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

12520L109

(CUSIP Number)

Deborah Sykes
11682 El Camino Real, Suite 320,
San Diego, CA, 92130
858-756-8300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/27/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 12520L109

1

Name of reporting person

Castle Creek Capital Partners VII, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 600,928.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 600,928.00

11

Aggregate amount beneficially owned by each reporting person

600,928.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.9 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

(1) The information set forth in Item 5 of this statement on Schedule 13D is incorporated herein by reference.

SCHEDULE 13D

CUSIP No. 12520L109

1

Name of reporting person

Castle Creek Capital VII LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF, WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 600,928.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 600,928.00

11

Aggregate amount beneficially owned by each reporting person

600,928.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.9 %

14

Type of Reporting Person (See Instructions)

HC, OO

Comment for Type of Reporting Person:

(1) The information set forth in Item 5 of this statement on Schedule 13D is incorporated herein by reference.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: CF BANKSHARES INC.
(c)	Address of Issuer's Principal Executive Offices: 4960 E. Dublin Granville Road, Suite #400, Columbus, OHIO , 43081.
Item 1 Comment: This Amendment No. 13 to Schedule 13D (this "Amendment No. 13") amends and supplements the Schedule 13D filed on December 24, 2019 (the "Original Schedule 13D", and as amended by Amendment No. 1 filed on March 31, 2020, Amendment No. 2 filed on June 1, 2020, Amendment No. 3 filed on November 26, 2024, Amendment No. 4 filed on December 3, 2024, Amendment No. 5 filed on December 12, 2024, Amendment No. 6 filed on May 14, 2025, Amendment No. 7 filed on May 22, 2025, Amendment No. 8 filed on July 3, 2025, Amendment No. 9 filed on July 10, 2025, Amendment No. 10 filed on July 23, 2025, Amendment No. 11 filed on August 15, 2025 and Amendment No. 12 filed on August 26, 2025, the "Schedule 13D") with the U.S. Securities and Exchange Commission (the "SEC"), relating to the shares of common stock, par value $0.01 per share ("Voting Common Stock"), of CF Bankshares Inc. (formerly known as Central Federal Corporation) (the "Issuer" or the "Company"). Unless specifically amended hereby, the disclosures set forth in the Schedule 13D remain unchanged. Capitalized terms used in this Amendment No. 13 that are not otherwise defined herein have the meanings attributed to them in the Original Schedule 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Schedule 13D is hereby amended and supplemented by adding the following: Between August 25, 2025 and August 27, 2025 (inclusive), Castle Creek Capital Partners VII, LP ("Fund VII") sold an aggregate of 72,177 shares of Voting Common Stock for proceeds of $1,777,591.42, which represents an amount net of commissions and fees, in various open-market transactions. Following such transactions, Fund VII owns 303,148 shares of Voting Common Stock.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) and (b) of the Schedule 13D is hereby amended and supplemented as follows: Fund VII is deemed to beneficially own 600,928 shares of the Voting Common Stock, which represents approximately 9.9%* of the Voting Common Stock. Such number of shares of Voting Common Stock includes (i) the 303,148 shares of Voting Common Stock held by Fund VII and (ii) the maximum number of shares (i.e., 297,780 shares) of Voting Common Stock issuable to Fund VII and its affiliates upon conversion of the Non-Voting Common Stock held by Fund VII taking into consideration the Ownership Cap. Such number of shares of Voting Common Stock excludes 300,820 shares of Non-Voting Common Stock. Since Fund VII does not presently, and will not within the next 60 days, have the right to acquire Voting Common Stock in respect of such Non-Voting Common Stock (due in part to the Ownership Cap), those underlying shares are not included in the amount reported herein. *This calculation is based on 6,069,987 shares of Voting Common Stock of the Company outstanding, which was calculated based on (i) 5,772,207 shares of Voting Common Stock outstanding as of August 4, 2025, as reported in the Company's Quarterly Report on Form 10-Q filed with the SEC on August 8, 2025, and (ii) increased by the 297,780 shares of Voting Common Stock that would be issued to Fund VII upon conversion of the maximum number of shares of Non-Voting Common Stock permitted in light of the Ownership Cap.
(b)	Fund VII has shared power to vote or direct the vote and shared power to dispose or direct the disposition of the 600,928 shares of Voting Common Stock described above with CCC VII. CCC VII disclaims beneficial ownership of the Voting Common Stock beneficially owned by Fund VII, except to the extent of its pecuniary interest therein.
(c)	Item 5(c) of the Schedule 13D is hereby amended and supplemented as follows: Except as previously disclosed in the Schedule 13D, Fund VII has engaged in the following open market, broker-assisted transactions with respect to the Voting Common Stock during the last 60 days through the date of the event which requires filing of this Schedule 13D: (i) 19,784 shares of Voting Common Stock sold on August 25, 2025 at a weighted average price of $24.70 per share (in multiple open market, broker-assisted transactions ranging from $24.65 to $24.72 per share, inclusive); (ii) 26,897 shares of Voting Common Stock sold on August 26, 2025 at a weighted average price of $24.70 per share (in multiple open market, broker-assisted transactions ranging from $24.65 to $24.845 per share, inclusive); and (iii) 25,496 shares of Voting Common Stock sold on August 27, 2025 at a weighted average price of $24.58 per share (in multiple open market, broker-assisted transactions ranging from $24.50 to $24.80 per share, inclusive).

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Castle Creek Capital Partners VII, LP

Signature:	/s/ Tony Scavuzzo
Name/Title:	Tony Scavuzzo, Managing Principal
Date:	08/29/2025

Castle Creek Capital VII LLC

Signature:	/s/ Tony Scavuzzo
Name/Title:	Tony Scavuzzo, Managing Principal
Date:	08/29/2025

FAQ

How many CF Bankshares (CFBK) shares did Castle Creek Capital Partners VII, LP sell on August 25–27, 2025?

The fund sold an aggregate of 72,177 shares in open-market, broker-assisted transactions during those dates.

What proceeds did Fund VII receive from the August 25–27, 2025 sales?

The sales generated net proceeds of $1,777,591.42.

After the sales, how many voting shares does Fund VII directly hold and what is its reported beneficial ownership?

Fund VII directly holds 303,148 Voting Common Stock shares and is deemed to beneficially own 600,928 shares (~9.9%).

What prices were the shares sold at during the August 25–27 transactions?

Weighted-average prices were approximately $24.70 on August 25 and 26 and $24.58 on August 27, with transaction price ranges noted in the filing.

Does the filing explain how conversion of Non-Voting Common Stock affects the reported ownership percentage?

Yes. The 600,928-share figure includes 297,780 shares issuable upon conversion of Non-Voting Common Stock to Voting Common Stock, subject to the Ownership Cap; 300,820 Non-Voting shares are excluded because they cannot be converted within 60 days.