CFBK · CF Bankshares Inc.

CF Bankshares reported Q1 2026 net income of $5.0 million ($0.77 per diluted share), a 13% increase from $4.4 million ($0.68 per share) in Q1 2025, but down from $5.7 million ($0.88 per share) in Q4 2025. The sequential decline was driven by a $1.0 million decrease in net interest income to $13.3 million, primarily due to a $5.0 million loan placed on nonaccrual status, which reversed $528,000 in accrued interest and reduced NIM by 11bps. Net interest margin expanded 5bps year-over-year to 2.69%, benefiting from a 50bps decline in the average rate on interest-bearing liabilities. Noninterest income rose 23% to $1.5 million, led by a $172,000 increase in customer fees from treasury management services. Noninterest expense increased 4.5% to $8.3 million, driven by higher advertising costs from marketing campaigns. Core commercial loan growth was $45 million (15% annualized), though loan fundings were concentrated late in the quarter, limiting average loan balances. Asset quality weakened with nonaccrual loans rising to $20.3 million (1.14% of total loans) due to one non-core C&I loan; however, $5.1 million of nonaccruals were SBA-guaranteed. The provision for credit losses was $604,000, up slightly from $582,000 a year ago. Deposits grew 1.6% sequentially to $1.8 billion, with a shift from noninterest-bearing to interest-bearing accounts. Management expressed optimism for Q2, citing strong pipelines and expected decline in loan payoffs. The Board declared a $0.09 per share dividend payable April 21, 2026.