C & F Financial Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>C & F Financial Corp has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

C & F FINANCIAL CORP (CFFI) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. C & F Financial Corp filed a 10-Q report for the period ending March 31, 2024. The company's Standard Industrial Classification is 'STATE COMMERCIAL BANKS [6022]'. The filing was made on May 7, 2024. The company's fiscal year ends on December 31. The filing includes data related to common stock, retained earnings, and additional paid-in capital for various periods.

Why It Matters

For investors and stakeholders tracking C & F FINANCIAL CORP, this filing contains several important signals. This filing provides an update on the company's financial position and performance for the first quarter of 2024. Investors and analysts can use this report to assess the company's financial health, operational performance, and strategic direction.

Risk Assessment

Risk Level: — C & F FINANCIAL CORP shows moderate risk based on this filing. The filing is a standard 10-Q, which is a routine periodic report for publicly traded companies, indicating no immediate or unusual risks.

Analyst Insight

Monitor future 10-Q filings for trends in C & F Financial Corp's financial performance and strategic initiatives.

Key Numbers

• 6022 — STANDARD INDUSTRIAL CLASSIFICATION (STATE COMMERCIAL BANKS)
• 1231 — FISCAL YEAR END (1231)
• 3374098 — Total Assets (approx) (C & F FINANCIAL CORPORATION)
• 3367619 — Total Liabilities (approx) (C & F FINANCIAL CORPORATION)

Key Players & Entities

• C & F FINANCIAL CORP (company) — FILER
• WEST POINT (company) — BUSINESS ADDRESS CITY
• VA (company) — BUSINESS ADDRESS STATE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-07 (date) — FILED AS OF DATE

FAQ

Industry Context

C & F Financial Corp operates within the commercial banking sector, as indicated by its SIC code.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, which governs the reporting requirements for public companies.

What Investors Should Do

1. Review the detailed financial statements within the 10-Q for specific revenue and expense figures.
2. Analyze changes in equity accounts such as common stock and retained earnings.
3. Compare the current period's financial data with previous periods to identify trends.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous year-end report.

Key Financial Figures

• $1.00 — nge on which registered Common Stock, $1.00 par value per share CFFI The NASDAQ

Filing Documents

• cffi-20240331x10q.htm (10-Q) — 6636KB
• cffi-20240331xex31d1.htm (EX-31.1) — 17KB
• cffi-20240331xex31d2.htm (EX-31.2) — 17KB
• cffi-20240331xex32.htm (EX-32) — 18KB
• 0000913341-24-000026.txt (&nbsp;) — 26327KB
• cffi-20240331.xsd (EX-101.SCH) — 59KB
• cffi-20240331_cal.xml (EX-101.CAL) — 95KB
• cffi-20240331_def.xml (EX-101.DEF) — 313KB
• cffi-20240331_lab.xml (EX-101.LAB) — 621KB
• cffi-20240331_pre.xml (EX-101.PRE) — 500KB
• cffi-20240331x10q_htm.xml (XML) — 8112KB

- Financial Information

PART I - Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets (Unaudited) – March 31, 2024 and December 31, 2023 3 Consolidated Statements of Income (Unaudited) – Three months ended March 31, 2024 and 2023 4 Consolidated Statements of Comprehensive Income (Unaudited) – Three months ended March 31, 2024 and 2023 5 Consolidated Statements of Equity (Unaudited) – Three months ended March 31, 2024 and 2023 6 Consolidated Statements of Cash Flows (Unaudited) – Three months ended March 31, 2024 and 2023 7 Notes to Consolidated Interim Financial Statements (Unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 61 Item 4.

Controls and Procedures

Controls and Procedures 63

- Other Information

PART II - Other Information 63 Item 1A.

Risk Factors

Risk Factors 63 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 64 Item 5 . Other Information 64 Item 6. Exhibits 65

Signatures

Signatures 66 2 Table of Contents

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION

FINANCIAL STATEMENT S

ITEM 1. FINANCIAL STATEMENT S C&F FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in thousands, except per share amounts) March 31, December 31, 2024 2023 Assets Cash and due from banks $ 15,904 $ 16,382 Interest-bearing deposits in other banks 39,303 58,777 Total cash and cash equivalents 55,207 75,159 Securities—available for sale at fair value, amortized cost of $ 464,684 and $ 494,092 , respectively 430,421 462,444 Loans held for sale, at fair value 22,622 14,176 Loans, net of allowance for credit losses of $ 40,200 and $ 39,651 , respectively 1,777,227 1,702,488 Restricted stock, at cost 3,592 2,925 Corporate premises and equipment, net 41,549 41,914 Accrued interest receivable 10,595 10,398 Goodwill 25,191 25,191 Other intangible assets, net 1,342 1,407 Bank-owned life insurance 21,586 21,464 Net deferred tax asset 19,253 18,731 Other assets 61,166 62,201 Total assets $ 2,469,751 $ 2,438,498 Liabilities Deposits Noninterest-bearing demand deposits $ 535,048 $ 549,367 Savings and interest-bearing demand deposits 816,714 843,564 Time deposits 736,170 673,199 Total deposits 2,087,932 2,066,130 Short-term borrowings 27,805 58,223 Long-term borrowings 68,339 25,894 Trust preferred capital notes 25,431 25,422 Accrued interest payable 4,644 3,493 Other liabilities 38,651 41,820 Total liabilities 2,252,802 2,220,982 Commitments and contingent liabilities (Note 11) Equity Common stock ( $ 1.00 par value, 8,000,000 shares authorized, 3,367,619 and 3,374,098 shares issued and outstanding , respectively, includes 121,238 and 135,694 of unvested shares, respectively) 3,246 3,238 Additional paid-in capital 6,084 6,567 Retained earnings 235,679 233,760 Accumulated other comprehensive loss, net ( 28,669 ) ( 26,687 ) Equity attributable to C&F Financial Corporat

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View this 10-Q filing on SEC EDGAR