|Over a week ago|
C&F Financial reports Q1 adjusted EPS $1.92 vs. $1.20 last year » 14:3004/2204/22/21
Consolidated provision for loan losses was $280,000 in the first quarter of 2021, compared to $2.7M in the first quarter of 2020, as qualitative adjustments to reserves related to the COVID-19 pandemic increased provision for loan losses in 2020 and net charge-offs were lower in 2021. Tom Cherry, President and CEO of C&F Financial, commented, "We are seeing encouraging signs in the economies in our markets and in our business segments in 2021. COVID-19 vaccinations are on the rise, and people are starting to resume many types of economic activity. Each of our business segments delivered significantly higher net income in the first quarter of 2021 compared to a year ago. Historically low net charge-offs at our consumer finance segment and historically high mortgage loan production volume at our mortgage banking segment contributed to our record first quarter net income. Although the community banking segment is still dealing with margin compression, we are encouraged by both loan and deposit growth as well as synergies we have realized as a result of our acquisition of Peoples in the first quarter of last year."
|Over a quarter ago|
C&F Financial authorizes share repurchase program up to 365,000 shares » 11:0411/1811/18/20
The board of directors…
The board of directors has authorized a program, effective November 17, 2020, to repurchase up to 365,000 shares of the Corporation's common stock through November 30, 2021. Repurchases under the program may be made through privately negotiated transactions or open market transactions, including pursuant to a trading plan in accordance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and shares repurchased will be returned to the status of authorized and unissued shares of common stock. The timing, number and purchase price of shares repurchased under the program, if any, will be determined by management in its discretion and will depend on a number of factors, including the market price of the shares, general market and economic conditions, applicable legal requirements and other conditions, and there is no assurance that the Corporation will purchase any shares under the program.
C&F Financial reports Q3 adjusted EPS $1.85 vs. $1.54 a year ago » 14:4810/2710/27/20
Tom Cherry, President and…
Tom Cherry, President and CEO of C&F Financial Corporation, commented, "Historically low interest rates have contributed to higher volume at the mortgage banking segment, setting a record for C&F Mortgage in the third quarter, and resulting in the highest consolidated net income for any quarter in the Corporation's history. The community banking segment and consumer finance segment continued to record additional provision for loan losses related to the COVID-19 pandemic in the third quarter. While we cannot be sure of the amount of loan losses that may occur as a result of the pandemic, we continue to believe we are well positioned with substantial capital and liquidity to continue to support the needs of our customers."