C & F FINANCIAL CORP

C&F Financial Corporation reported strong financial performance for the second quarter of 2026, with net income increasing to $8.63 million and diluted earnings per share reaching $2.63. The company also saw improvements in its annualized return on average assets and net interest margin. Total assets and deposits continued to grow, reflecting a solid balance sheet, although a strategic securities portfolio restructuring resulted in a pre-tax loss.

C&F Financial Corporation reported consolidated net income of $8.6 million for the second quarter of 2026, an 11.1% increase from the prior year, with diluted earnings per share of $2.63. For the first six months of 2026, net income rose 17.2% to $15.4 million. The results include a pre-tax gain of $8.3 million from the sale of an equity interest in Bearing Insurance Group and a pre-tax loss of $7.1 million from a securities portfolio restructuring. The company also highlighted strong loan growth in community banking, increased mortgage originations, and margin expansion.

C&F Financial Corporation reported a consolidated net income of $8.6 million for the second quarter of 2026, an 11.1% increase year-over-year, and $15.4 million for the first six months, up 17.2%. These results include an $8.3 million pre-tax gain from an equity interest sale and a $7.1 million pre-tax loss from a securities portfolio restructuring. Adjusted net income also saw increases for both periods. The company highlighted strong loan growth in community banking, increased mortgage originations, and margin expansion, attributing positive results to strategic initiatives including geographic expansion and portfolio restructuring.

C&F Financial Corporation announced its expansion into the Lynchburg market, appointing Ryan White as the new Market Executive. White, a highly respected banker with over two decades of experience, will lead the bank's growth in the region. This move reinforces C&F Bank's strategy of investing in experienced local leaders and strengthens its commercial banking team in Virginia, building on its recent success in Roanoke. The expansion further solidifies C&F's position as it approaches its 100th anniversary in 2027.

C&F Financial Corporation announced that S. Dustin Crone, President and CEO of C&F Finance Company, intends to retire on December 31, 2026. He will transition out of his President role on June 30, 2026, and serve as CEO until his retirement. Shawn Moore will succeed him as President. Crone's retirement is governed by a transition agreement detailing his compensation and benefits during the transition period, including the vesting of restricted stock awards. Additionally, the company amended its SERP plan and approved a $100,000 contribution for CEO Thomas F. Cherry for retention purposes.

C&F Financial Corporation's Board of Directors has declared a regular cash dividend of $0.48 per share. This dividend is scheduled to be paid on July 1, 2026, to shareholders who are on record as of June 15, 2026. The Board continuously evaluates dividend amounts based on economic conditions, capital requirements, and expected future earnings. The corporation operates C&F Bank, C&F Wealth Management, C&F Mortgage Corporation, and C&F Finance Company.

C&F Financial Corporation announced the completion of the sale of its interest in Bearing Insurance Group, LLC, effective May 1, 2026, anticipating an $8.3 million pre-tax gain in the second quarter of 2026. Following this divestment, the company strategically restructured a portion of its available-for-sale securities portfolio, selling $72.6 million in lower-yielding securities and purchasing $67.8 million in higher-yielding ones. This restructuring is expected to result in an estimated $7.1 million pre-tax loss in Q2 2026, but is projected to improve annualized earnings per share by $0.51 and net interest margin by 9 basis points, with the loss recovered in about 3.3 years.

C&F Financial Corporation released its investor presentation, detailing financial performance for the first quarter of 2026. The company reported net income of $6.79 million and diluted earnings per share of $2.08, marking an increase from Q1 2025 net income of $5.39 million and EPS of $1.66. Key metrics included a net interest margin of 4.27% and a return on average assets of 0.97%.

C&F Financial Corporation reported consolidated net income of $6.8 million for the first quarter of 2026, an increase from $5.4 million in the first quarter of 2025. Diluted earnings per share rose to $2.08 for Q1 2026, up from $1.66 in the prior year's quarter. The company also saw an improvement in its annualized return on average assets to 0.97% and return on average equity to 10.19% compared to Q1 2025.

C&F Financial Corporation reported a significant increase in consolidated net income for the first quarter of 2026, reaching $6.8 million compared to $5.4 million in the prior year. This performance was driven by strong growth in its community banking and mortgage banking segments, which offset lower earnings in consumer finance. The company saw solid loan and deposit growth, a substantial jump in mortgage originations, and an improved net interest margin.