CF BANKSHARES INC.

Listed Company

CFBKCIK 0001070680NasdaqAcceleratedSmaller ReportingNational Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$17.54M

Total Assets

$2.12B

Equity

$184.43M

Shares Out

5.32M

Op. Cash Flow

$18.69M

Business

CF BANKSHARES INC. is the Delaware holding company for CFBank, a nationally chartered boutique commercial bank that serves closely held businesses, entrepreneurs and local consumers. It offers commercial loans and equipment leases, commercial and residential real estate lending, construction and multifamily financing, retail deposit and treasury management services, residential mortgage origination and sales, and online/mobile banking with remote deposit. The company operates through the Holding Company, subsidiary CFBank and a trust subsidiary used for funding. CFBank serves markets in Columbus, Cleveland, Cincinnati and Akron, Ohio, and Indianapolis, Indiana via branches and digital channels.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans and leases, including fees	109	107	97	64	51
Securities	359,000	549,000	658,000	881,000	756,000
FHLB and FRB stock dividends	629,000	675,000	592,000	348,000	234,000
Federal funds sold and other	10	10	10	3	102,000
Total interest and dividend income	120	118	108	68	52
Deposits	60	67	56	16	8
FHLB advances and other debt	4	3	3	2	1
Subordinated debentures	1	1	1	982,000	897,000
Total interest expense	65	72	61	19	—
Net interest income	55	47	48	49	42
Provision for credit losses-loans	8	6	2	787,000	−2
Provision for credit losses-unfunded commitments	739,000	650,000	459,000	—	—
Total provision for credit losses	8	7	2	787,000	−2
Net interest income after provision for credit losses	47	40	45	48	44
Service charges on deposit accounts	3	3	2	1	845,000
Net gains on sales of residential mortgage loans	716,000	435,000	119,000	656,000	6
Net (losses) gains on sales of commercial loans	−18,000	246,000	66,000	—	—
Net loss on sale of equity security	−103,000	—	—	—	—
Earnings on bank owned life insurance	933,000	850,000	625,000	598,000	532,000
Swap fee income	424,000	321,000	715,000	190,000	194,000
Other	1	818,000	940,000	451,000	434,000
Total noninterest income	6	5	4	3	12
Salaries and employee benefits	16	14	15	15	17
Occupancy and equipment	2	2	2	1	1
Data processing	3	3	2	3	2
Franchise and other taxes	1	1	1	1	975,000
Professional fees	3	3	2	3	4
Director fees	686,000	574,000	658,000	632,000	622,000
Postage, printing and supplies	142,000	152,000	149,000	183,000	146,000
Advertising and marketing	418,000	134,000	336,000	431,000	3
Telephone	186,000	210,000	257,000	249,000	263,000
Loan expenses	915,000	1	619,000	694,000	352,000
Foreclosed assets, net	18,000	—	—	—	—
Depreciation	476,000	486,000	567,000	496,000	435,000
FDIC premiums	2	2	2	1	1
Regulatory assessment	216,000	258,000	242,000	272,000	261,000
Other insurance	194,000	198,000	209,000	177,000	158,000
Impairment of premises and equipment	—	56,000	60,000	570,000	17,000
Other	934,000	831,000	945,000	693,000	431,000
Total noninterest expense	31	29	28	29	32
Income before incomes taxes	22	16	21	23	23
Income tax expense	4	3	4	4	4
Net income	18	13	17	18	18
Earnings allocated to participating securities (Series D preferred stock)	−540,000	−361,000	—	—	—
Net income attributable to common stockholders	17	13	17	18	18
Basic	2.7	2.08	2.64	2.84	2.84
Diluted	2.69	2.06	2.63	2.78	2.77

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	259	235	262	152	167
Interest-bearing deposits in other financial institutions	100,000	100,000	100,000	100,000	100,000
Securities available for sale	17	9	8	10	16
Equity securities	0	5	5	5	5
Loans held for sale, at fair value	6	3	2	580,000	28
Loans and leases, net of allowance for credit losses of $17,678 and $17,474, respectively	1,739	1,722	1,694	1,572	—
FHLB and FRB stock	8	9	8	8	7
Premises and equipment, net	4	4	4	4	6
Operating lease right-of-use assets	6	6	5	1	2
Bank owned life insurance	28	27	26	26	26
Accrued interest receivable and other assets	51	46	44	39	25
Total assets	2,117	2,066	2,059	1,820	1,496
Noninterest bearing	286	274	236	263	285
Interest bearing	1,495	1,482	1,508	1,265	961
Total deposits	1,781	1,756	1,744	1,528	1,246
FHLB advances and other debt	101	93	110	109	90
Advances by borrowers for taxes and insurance	3	2	2	4	3
Operating lease liabilities	6	6	5	1	2
Accrued interest payable and other liabilities	28	25	27	24	15
Subordinated debentures	15	15	15	15	15
Total liabilities	1,933	1,897	1,903	1,681	1,370
Commitments and contingent liabilities	—	—	—	—	—
Series D preferred stock, $0.01 par value; 5,000 shares authorized; 2,000 shares issued at December 31, 2025 and December 31, 2024	—	—	—	—	—
Additional paid-in capital	94	92	91	90	89
Retained earnings	104	88	77	61	44
Accumulated other comprehensive loss	−1	−2	−2	−2	−170,000
Treasury stock, at cost; 459,113 shares of voting common stock at December 31, 2025 and 398,201 shares of voting common stock a December 31, 2024	−12	−10	−10	−10	−7
Total stockholders' equity	184	168	155	139	125
Total liabilities and stockholders' equity	2,117	2,066	2,059	1,820	1,496

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	476,000	486,000	567,000	496,000	435,000
Accretion, net	−2	−1	−1	−881,000	—
Deferred income tax (benefit) expense	−186,000	−365,000	456,000	215,000	773,000
Net loss on sale of equity security	103,000	—	—	—	—
Originations of loans held for sale	−50	−48	−11	−97	−2,359
Proceeds from sale of loans held for sale	47	47	10	124	2,603
Net gains on sales of residential mortgage loans	−716,000	−435,000	−119,000	−656,000	−6
Loss on disposal of premises and equipment	0	56,000	60,000	570,000	—
Loss on sale of other assets held for sale	0	0	13,000	—	—
Earnings on bank owned life insurance	−933,000	−850,000	−625,000	−598,000	−532,000
Restricted stock expense, net of forfeitures	1	1	1	—	—
Accrued interest receivable and other assets	1	4	−3	−6	18
Operating lease right-of-use asset	661,000	753,000	687,000	568,000	461,000
Operating lease liability	−605,000	−692,000	−686,000	−594,000	−498,000
Accrued interest payable and other liabilities	−4	−8	2	1	−15
Net cash from operating activities	19	14	18	40	253
Available-for-sale securities: Maturities, prepayments and calls	1	2	2	4	5
Available-for-sale securities, Purchases	−9	−2	0	—	−13
Proceeds from the sale of equity security	5	0	0	—	—
Loan and lease originations and payments, net	−33	−32	−125	−365	−311
Purchase of loans and leases	−10	−6	0	—	—
Proceeds from the sale of loans	20	6	2	13	33
Additions to premises and equipment	−487,000	−266,000	−661,000	−905,000	−3
Redemption (purchase) of FRB and FHLB stock	564,000	−436,000	−540,000	—	—
Purchase of other investments	0	0	−1	—	−2
Other adjustments	477,000	578,000	−341,000	582,000	—
Proceeds from the sale of foreclosed assets	524,000	—	—	—	—
Proceeds from the sale of assets held for sale	0	0	2	—	—
Net cash used by investing activities	−25	−33	−122	−353	−317
Net change in deposits	25	12	216	282	238
Proceeds from FHLB advances and other debt	10	27	37	40	174
Repayments on FHLB advances and other debt	−2	−45	−37	−20	−229
Net change in advances by borrowers for taxes and insurance	285,000	59,000	−1	761,000	2
Cash dividends paid	−2	−2	−1	−1	−848,000
Proceeds from exercise of stock options	0	0	84,000	387,000	185,000
Acquisition of treasury shares surrendered upon vesting of restricted stock and exercised options for payment of taxes and exercise proceeds	−147,000	−129,000	−122,000	−173,000	−139,000
Purchase of treasury shares	−1	−223,000	−177,000	−2	−3
Net cash from (used by) financing activities	30	−8	214	299	8
Net change in cash and cash equivalents	24	−26	110	−15	−55
Interest paid	65	72	59	18	11
Income tax paid	3	664,000	4	2	4
Transfer from loans to foreclosed assets	524,000	—	—	—	—
Investment payable on limited partnerships	6	6	889,000	8	8
Initial recognition of operating lease right-of-use asset	254,000	2	5	—	999,000
Initial recognition of operating lease liability	254,000	2	5	—	—

Filings

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