C&F Financial Corp Files Q3 2024 10-Q

TL;DR

C&F Financial Corp filed its Q3 2024 10-Q. Check financials.

AI Summary

C & F Financial Corporation reported its Q3 results for the period ending September 30, 2024. The company's filing details its financial performance and operational status. Specific financial figures and operational highlights are available within the full report.

Why It Matters

This filing provides investors with an update on C & F Financial Corporation's financial health and operational performance for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Players & Entities

• C & F FINANCIAL CORP (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241104 (date) — Filing Date
• WEST POINT, VA (location) — Company Headquarters

FAQ

Key Financial Figures

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

Filing Documents

• cffi-20240930x10q.htm (10-Q) — 8169KB
• cffi-20240930xex31d1.htm (EX-31.1) — 15KB
• cffi-20240930xex31d2.htm (EX-31.2) — 15KB
• cffi-20240930xex32.htm (EX-32) — 18KB
• 0000913341-24-000048.txt ( ) — 30093KB
• cffi-20240930.xsd (EX-101.SCH) — 60KB
• cffi-20240930_cal.xml (EX-101.CAL) — 96KB
• cffi-20240930_def.xml (EX-101.DEF) — 313KB
• cffi-20240930_lab.xml (EX-101.LAB) — 626KB
• cffi-20240930_pre.xml (EX-101.PRE) — 504KB
• cffi-20240930x10q_htm.xml (XML) — 9276KB

- Financial Information

PART I - Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets (Unaudited) – September 30, 2024 and December 31, 2023 3 Consolidated Statements of Income (Unaudited) – Three and nine months ended September 30, 2024 and 2023 4 Consolidated Statements of Comprehensive Income (Unaudited) – Three and nine months ended September 30, 2024 and 2023 5 Consolidated Statements of Equity (Unaudited) – Three and nine months ended September 30, 2024 and 2023 6 Consolidated Statements of Cash Flows (Unaudited) –Nine months ended September 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 68 Item 4.

Controls and Procedures

Controls and Procedures 70

- Other Information

PART II - Other Information 70 Item 1A.

Risk Factors

Risk Factors 70 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 71 Item 5 . Other Information 71 Item 6. Exhibits 72

Signatures

Signatures 73 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) September 30, December 31, 2024 2023 Assets Cash and due from banks $ 16,686 $ 16,382 Interest-bearing deposits in other banks 32,507 58,777 Total cash and cash equivalents 49,193 75,159 Securities—available for sale at fair value, amortized cost of $ 430,793 and $ 494,092 , respectively 409,045 462,444 Loans held for sale, at fair value 44,677 14,176 Loans, net of allowance for credit losses of $ 40,771 and $ 39,651 , respectively 1,868,638 1,702,488 Restricted stock, at cost 4,542 2,925 Corporate premises and equipment, net 42,128 41,914 Other real estate owned 296 — Accrued interest receivable 10,198 10,398 Goodwill 25,191 25,191 Other intangible assets, net 1,211 1,407 Bank-owned life insurance 21,827 21,464 Net deferred tax asset 16,871 18,731 Other assets 57,087 62,201 Total assets $ 2,550,904 $ 2,438,498 Liabilities Deposits Noninterest-bearing demand deposits $ 541,621 $ 549,367 Savings and interest-bearing demand deposits 783,419 843,564 Time deposits 810,851 673,199 Total deposits 2,135,891 2,066,130 Short-term borrowings 48,643 58,223 Long-term borrowings 68,235 25,894 Trust preferred capital notes 25,448 25,422 Accrued interest payable 3,967 3,493 Other liabilities 40,762 41,820 Total liabilities 2,322,946 2,220,982 Commitments and contingent liabilities (Note 11) Equity Common stock ($ 1.00 par value, 8,000,000 shares authorized, 3,234,363 and 3,374,098 shares issued and outstanding, respectively, includes 120,173 and 135,694 of unvested shares, respectively) 3,114 3,238 Additional paid-in capital 499 6,567 Retained earnings 243,194 233,760 Accumulated other comprehensive loss, net ( 19,467 ) ( 26,687 ) Equity attri

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View this 10-Q filing on SEC EDGAR