C&F Financial Corp Files Q2 2024 10-Q

TL;DR

**C&F Financial Corp 10-Q is IN. Check Q2 numbers.**

AI Summary

C & F Financial Corporation filed its 10-Q for the period ending June 30, 2024. The company, a commercial bank, reported financial results and operational details. Specific financial figures and performance metrics for the quarter are detailed within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for C & F Financial Corporation, crucial for evaluating its current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant negative events indicated.

Key Numbers

• 3374098 — Total Assets (As of the reporting period.)
• 3293909 — Total Liabilities (As of the reporting period.)

Key Players & Entities

• C & F FINANCIAL CORP (company) — Filer
• 0000913341-24-000040 (filing_id) — Accession Number
• 20240630 (date) — Period of Report
• 20240802 (date) — Filing Date
• VA (location) — State of Incorporation
• WEST POINT (location) — City

FAQ

Key Financial Figures

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

Filing Documents

• cffi-20240630x10q.htm (10-Q) — 8094KB
• cffi-20240630xex31d1.htm (EX-31.1) — 17KB
• cffi-20240630xex31d2.htm (EX-31.2) — 17KB
• cffi-20240630xex32.htm (EX-32) — 18KB
• 0000913341-24-000040.txt ( ) — 29843KB
• cffi-20240630.xsd (EX-101.SCH) — 59KB
• cffi-20240630_cal.xml (EX-101.CAL) — 95KB
• cffi-20240630_def.xml (EX-101.DEF) — 313KB
• cffi-20240630_lab.xml (EX-101.LAB) — 621KB
• cffi-20240630_pre.xml (EX-101.PRE) — 502KB
• cffi-20240630x10q_htm.xml (XML) — 9185KB

- Financial Information

PART I - Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets (Unaudited) –June 30, 2024 and December 31, 2023 3 Consolidated Statements of Income (Unaudited) – Three and six months ended June 30, 2024 and 2023 4 Consolidated Statements of Comprehensive Income (Unaudited) – Three and six months ended June 30, 2024 and 2023 5 Consolidated Statements of Equity (Unaudited) – Three and six months ended June 30, 2024 and 2023 6 Consolidated Statements of Cash Flows (Unaudited) –Six months ended June 30, 2024 and 2023 8 Notes to Consolidated Interim Financial Statements (Unaudited) 9 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 38 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 67 Item 4.

Controls and Procedures

Controls and Procedures 69

- Other Information

PART II - Other Information 69 Item 1A.

Risk Factors

Risk Factors 69 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 69 Item 5 . Other Information 70 Item 6. Exhibits 71

Signatures

Signatures 72 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) June 30, December 31, 2024 2023 Assets Cash and due from banks $ 16,233 $ 16,382 Interest-bearing deposits in other banks 28,433 58,777 Total cash and cash equivalents 44,666 75,159 Securities—available for sale at fair value, amortized cost of $ 436,959 and $ 494,092 , respectively 404,758 462,444 Loans held for sale, at fair value 33,716 14,176 Loans, net of allowance for credit losses of $ 40,343 and $ 39,651 , respectively 1,824,833 1,702,488 Restricted stock, at cost 3,592 2,925 Corporate premises and equipment, net 41,208 41,914 Accrued interest receivable 10,516 10,398 Goodwill 25,191 25,191 Other intangible assets, net 1,277 1,407 Bank-owned life insurance 21,705 21,464 Net deferred tax asset 18,844 18,731 Other assets 61,794 62,201 Total assets $ 2,492,100 $ 2,438,498 Liabilities Deposits Noninterest-bearing demand deposits $ 533,618 $ 549,367 Savings and interest-bearing demand deposits 788,780 843,564 Time deposits 783,664 673,199 Total deposits 2,106,062 2,066,130 Short-term borrowings 25,049 58,223 Long-term borrowings 68,311 25,894 Trust preferred capital notes 25,440 25,422 Accrued interest payable 4,670 3,493 Other liabilities 43,469 41,820 Total liabilities 2,273,001 2,220,982 Commitments and contingent liabilities (Note 11) Equity Common stock ( $ 1.00 par value, 8,000,000 shares authorized, 3,293,909 and 3,374,098 shares issued and outstanding , respectively, includes 120,388 and 135,694 of unvested shares, respectively) 3,174 3,238 Additional paid-in capital 3,157 6,567 Retained earnings 239,231 233,760 Accumulated other comprehensive loss, net ( 27,099 ) ( 26,687 ) Equity attributable to C&F Financial Corporati

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View this 10-Q filing on SEC EDGAR