0001193125-26-103638
SEC filingCF Bankshares Inc. reported net income of $17.5 million for fiscal year 2025, with net income attributable to common stockholders of $17.0 million. The company generated total interest and dividend income of $120.0 million, offset by total interest expense of $65.0 million, resulting in net interest income of $55.0 million. After a total provision for credit losses of $8.2 million, net interest income after provision for credit losses was $46.8 million. Noninterest income contributed $5.9 million, while noninterest expenses totaled $31.2 million, leading to income before income taxes of $21.5 million. The company maintained strong liquidity with total assets of $2.12 billion, including cash and cash equivalents of $259.0 million, and total deposits of $1.78 billion. Stockholders' equity stood at $184.4 million. The company generated $18.7 million in net cash from operating activities, used $25.0 million in investing activities, and generated $30.1 million from financing activities, resulting in a net increase in cash and cash equivalents of $23.7 million.
CF Bankshares Inc. reported net income of $17.5 million for fiscal year 2025, with net income attributable to common stockholders of $17.0 million after allocating $540,000 to participating securities (Series D preferred stock). The company achieved basic and diluted earnings per common share of $3. Total interest and dividend income was $120.0 million, primarily driven by loans and leases including fees of $109.3 million and federal funds sold and other of $9.7 million. Interest expense totaled $65.0 million, with deposits accounting for $60.0 million of that amount. This resulted in net interest income of $55.0 million. After accounting for a total provision for credit losses of $8.2 million, net interest income after provision for credit losses was $46.8 million.
The company's revenue streams are primarily interest-based, with loans and leases including fees generating $109.3 million, securities contributing $359,000, FHLB and FRB stock dividends providing $629,000, and federal funds sold and other contributing $9.7 million. Noninterest income totaled $5.9 million, with service charges on deposit accounts being the largest component at $2.9 million, followed by earnings on bank owned life insurance at $933,000, swap fee income at $424,000, and other noninterest income of $1.1 million. The company also recorded net gains on sales of residential mortgage loans of $716,000, offset by net losses on sales of commercial loans of $18,000 and net loss on sale of equity security of $103,000.
Net interest income after provision for credit losses was $46.8 million, representing the core earnings from lending activities after accounting for credit risk. Noninterest expenses totaled $31.2 million, with salaries and employee benefits being the largest expense at $15.7 million, followed by professional fees at $3.2 million, data processing at $2.9 million, and FDIC premiums at $2.1 million. Other significant expenses included occupancy and equipment at $1.8 million, franchise and other taxes at $1.4 million, and loan expenses at $915,000. Income before income taxes was $21.5 million, with income tax expense of $4.0 million, resulting in a net income margin relative to total interest and dividend income of approximately 14.6%.
The company generated $18.7 million in net cash from operating activities, primarily from net income of $17.5 million adjusted for non-cash items including provision for credit losses of $8.2 million, depreciation of $476,000, accretion net of $2.1 million, and restricted stock expense net of forfeitures of $1.4 million. Investing activities used $25.0 million, mainly for loan and lease originations and payments net of $33.3 million, purchases of available-for-sale securities of $9.2 million, and purchase of loans and leases of $9.9 million, partially offset by proceeds from sale of loans of $20.4 million and proceeds from sale of equity security of $4.9 million. Financing activities generated $30.1 million, primarily from net change in deposits of $24.9 million and proceeds from FHLB advances and other debt of $10.2 million, partially offset by cash dividends paid of $1.9 million and purchase of treasury shares of $1.3 million. Total assets were $2.12 billion, with loans and leases net of allowance for credit losses of $1.74 billion, cash and cash equivalents of $259.0 million, and securities available for sale of $17.5 million. Total liabilities were $1.93 billion, with total deposits of $1.78 billion and FHLB advances and other debt of $101.0 million. Stockholders' equity was $184.4 million.
The filing does not provide specific forward-looking guidance, management projections, or explicit strategic priorities for future periods. The financial statements present historical performance for fiscal year 2025 without quantitative forecasts or management guidance for 2026. Investors should review subsequent filings for updated performance metrics and any disclosed strategic initiatives.