CF Bankshares Inc. Files 8-K: Other Events

TL;DR

CFBK filed an 8-K for 'Other Events' on 4/15 - details TBD.

AI Summary

CF Bankshares Inc. filed an 8-K on April 15, 2024, reporting "Other Events." The filing does not contain specific details about the nature of these events, dollar amounts, or definitive dates beyond the filing date itself. The company is incorporated in Delaware and headquartered in Columbus, Ohio.

Why It Matters

This filing indicates that CF Bankshares Inc. has reported significant events that require disclosure to the SEC, though the specifics are not yet detailed in this initial report.

Risk Assessment

Risk Level: low — The filing is a standard 8-K for 'Other Events' without immediate disclosed financial impact or significant corporate changes.

Key Players & Entities

• CF BANKSHARES INC. (company) — Registrant
• Delaware (jurisdiction) — State of incorporation
• Columbus, Ohio (location) — Principal executive offices
• April 15, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $150,000 — tes on residential mortgage loans below $150,000 in an effort to attract more LMI borrow

Filing Documents

• cfbk-20240415x8k.htm (8-K) — 78KB
• 0001070680-24-000008.txt ( ) — 196KB
• cfbk-20240415.xsd (EX-101.SCH) — 2KB
• cfbk-20240415_lab.xml (EX-101.LAB) — 15KB
• cfbk-20240415_pre.xml (EX-101.PRE) — 11KB
• cfbk-20240415x8k_htm.xml (XML) — 5KB

01. Other Events

Item 8.01. Other Events. As previously disclosed in the Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed by CF Bankshares Inc. (the "Company") on March 29, 2023, the Office of the Comptroller of the Currency (the "OCC") publicly released its Community Reinvestment Act ("CRA") rating of CFBank, National Association ("CFBank") for the 2020 to 2022 evaluation period. CFBank received an overall CRA rating of "Needs to Improve", which included a rating of "Needs to Improve" under the lending test and a rating of "Satisfactory" under the community development test. The OCC routinely conducts CRA performance evaluations of CFBank, typically once every three years. The OCC last conducted a CRA performance evaluation of CFBank in 2020, at which time CFBank received a "Satisfactory" rating. The CRA rating is among the factors that the OCC considers when reviewing applications to acquire, merge, or consolidate with another banking institution, to establish a new branch that will accept deposits, or to relocate a branch. Similarly, the Federal Reserve considers CRA ratings when reviewing applications to acquire another financial institution or its holding company. The Company believes that the "Needs to Improve" rating was primarily attributable to CFBank's legacy direct-to-consumer ("DTC") national residential mortgage lending business, which was entered into opportunistically in 2018. CFBank exited DTC in 2021. CFBank has consistently engaged in a traditional retail mortgage lending model in its regional markets. Upon exiting the DTC model, CFBank's assessment area distribution of residential mortgage loans improved in 2022 within the low- and moderate-income (LMI) geographies and borrowers, a positive trend which continued through 2023. In conjunction with the DTC exit and the conclusion of the COVID-19 pandemic, CFBank also evaluated its overall branch presence and capabilities in relation to the needs of the communities it serves. This re

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CF Bankshares Inc. Date: April 15 , 2024 By: /s/ Kevin J. Beerman Kevin J. Beerman Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR