1. CFBK reports Q1 2025 net income of $4.4 million. 2. NIB deposits increased by 7% this quarter, enhancing liquidity. 3. Commercial banking saw over $50 million net loan growth. 4. Interest expense decreased 6.7%, boosting net interest income. 5. Stockholders' equity rose to $172.7 million, reflecting strong performance.
CFBK's consistent growth, particularly in net loans and deposits, signals potential for upward stock movement, leveraging positive earnings trends.
The Q1 results showcase strong operational metrics essential for investor confidence, directly enhancing share value perspectives.
Immediate performance metrics, such as quarterly earnings, suggest upward traction in the short term, likely affecting stock price swiftly.
CF Bankshares Inc. (NASDAQ: CFBK) (the "Company"), the parent of CFBank, National Association ("CFBank"), today announced financial results for the first quarter ended March 31, 2025.
Timothy T. O'Dell, President and CEO, commented:
"Q1 Net Income of $4.4 million, which included $600k of provision expense, represents a solid start to 2025, and we believe establishes a base to continue building upon. We are particularly pleased with our continuing positive trajectory of growing NIB deposits, which were up 7% during the quarter.
We expect additional opportunities to reduce our Cost Of Funds and Deposit costs moving forward, with expected Fed rate reductions providing further impetus."
Our Commercial Banking group produced over $50 million of net Loan growth during the first quarter, after overcoming considerable loan payoffs...
I am highly enthused by the caliber and interest level of experienced Commercial Bankers interested in joining CFBank mostly from Regional Banks...
Robert E. Hoeweler, Chairman of the Board, added: "Our CFBank Leadership and Team continues to demonstrate the ability to compete successfully and win vs. Regional Bank competitors."
Net income for the three months ended March 31, 2025 totaled $4.4 million (or $0.68 per diluted common share) compared to net income of $4.4 million (or $0.68 per diluted common share) for the three months ended December 31, 2024 and net income of $3.1 million (or $0.47 per diluted common share) for the three months ended March 31, 2024...
Net interest income totaled $12.9 million for the quarter ended March 31, 2025 and increased $376,000, or 3.0%...
Noninterest income for the quarter ended March 31, 2025 totaled $1.2 million and decreased $240,000, or 16.6%...
Noninterest expense for the quarter ended March 31, 2025 totaled $8.0 million and increased $521,000, or 7.0%...
Income tax expense was $1.1 million for the quarter ended March 31, 2025 (effective tax rate of 20.6%)...
Net loans and leases totaled $1.8 billion at March 31, 2025 and increased $28.1 million, or 1.6%...
Deposits totaled $1.78 billion at March 31, 2025, an increase of $27.9 million, or 1.6%...
Stockholders' equity totaled $172.7 million at March 31, 2025, an increase of $4.3 million, or 2.5%...
CF Bankshares Inc. (the "Company") is a holding company that owns 100% of the stock of CFBank, National Association ("CFBank"). CFBank is a nationally chartered boutique Commercial bank operating primarily in Five (5) Major Metro Markets: Columbus, Cleveland, Cincinnati, and Akron Ohio, and Indianapolis, Indiana...
This press release and other materials we have filed or may file with the Securities and Exchange Commission ("SEC") contain or may contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Reform Act of 1995...