C&F Financial Corporation (CFFI) Bundle
A Brief History of C&F Financial Corporation (CFFI)
Formation and Early Years
C&F Financial Corporation (CFFI) was established in 1990. The corporation is based in Mechanicsville, Virginia, and serves as the holding company for C&F Bank. The bank traces its origins back to 1927, with a focus on delivering banking services primarily to communities in Virginia.
Public Offering
In 1995, C&F Financial Corporation went public, trading on the NASDAQ under the ticker symbol "CFFI." The initial public offering (IPO) was a strategic move to raise capital for expansion. By the end of 1995, the company reported assets amounting to $170 million.
Growth and Expansion
Throughout the late 1990s and early 2000s, CFFI expanded its footprint through strategic acquisitions. In 1999, C&F Bank acquired Commonwealth Bank, which added approximately $80 million in assets. By 2002, total assets had grown to $400 million.
Financial Performance
In 2020, CFFI reported a net income of $14.1 million, compared to $13.4 million in 2019, marking a growth of 5.2%. The company's return on assets (ROA) stood at 1.12% for the year.
| Year | Net Income ($ million) | Total Assets ($ million) | Return on Assets (%) |
|---|---|---|---|
| 2018 | 12.1 | 900 | 1.10 |
| 2019 | 13.4 | 950 | 1.12 |
| 2020 | 14.1 | 1,000 | 1.12 |
| 2021 | 15.7 | 1,050 | 1.32 |
| 2022 | 17.3 | 1,100 | 1.57 |
Recent Developments
As of the end of 2022, C&F Financial Corporation's total assets reached approximately $1.1 billion. The company has continued to enhance its digital banking services, with a notable increase in online banking users, up by 25% in the last year.
Commitment to Community
C&F Financial Corporation maintains a strong commitment to community development, providing over $1 million in loans through its Community Development Financial Institution (CDFI) initiatives in 2021. This highlights the corporation’s focus on social responsibility while delivering financial services.
Current Stock Performance
As of October 2023, CFFI's stock price has shown resilience, trading at approximately $38.50 per share, with a market capitalization around $350 million. The stock has consistently delivered dividends, with a yield of 2.5%.
| Date | Stock Price ($) | Market Cap ($ million) | Dividend Yield (%) |
|---|---|---|---|
| Dec 2021 | 32.00 | 300 | 2.3 |
| Dec 2022 | 36.00 | 325 | 2.4 |
| Oct 2023 | 38.50 | 350 | 2.5 |
Outlook
Looking forward, C&F Financial Corporation aims to expand its market presence in the Mid-Atlantic region and leverage technological advancements to enhance customer experience. The company’s strategic focus remains on sustainable growth and community engagement.
A Who Owns C&F Financial Corporation (CFFI)
Ownership Structure
The ownership of C&F Financial Corporation (CFFI) is comprised of institutional and individual shareholders. As of the last available data in 2023, institutional investors hold a significant portion of the shares, indicating a strong market confidence in the company’s performance.
Top Shareholders
| Shareholder Name | Ownership Percentage (%) | Number of Shares Owned | Type of Shareholder |
|---|---|---|---|
| BlackRock, Inc. | 12.5 | 757,400 | Institutional |
| The Vanguard Group, Inc. | 10.8 | 650,000 | Institutional |
| Southern Trust Company | 7.3 | 440,000 | Institutional |
| Dimensional Fund Advisors LP | 5.2 | 315,000 | Institutional |
| Insider Holdings (Executives and Directors) | 4.6 | 280,000 | Individual |
Market Capitalization and Financial Performance
As of October 2023, C&F Financial Corporation has a market capitalization of approximately $250 million. The company reported a net income of $20 million for the fiscal year ending 2022, indicating a year-over-year growth.
Share Price Information
- Current Share Price: $45.00
- 52-Week High: $48.00
- 52-Week Low: $39.00
- Dividend Yield: 2.5%
Recent Stock Performance
| Date | Closing Price ($) | Volume |
|---|---|---|
| October 2, 2023 | 45.00 | 50,000 |
| September 29, 2023 | 44.50 | 45,000 |
| September 28, 2023 | 44.75 | 60,000 |
| September 27, 2023 | 43.00 | 55,000 |
| September 26, 2023 | 42.50 | 30,000 |
Conclusion on Ownership Trends
As indicated by the data, C&F Financial Corporation's ownership is characterized by a blend of institutional and individual investors, with a strong representation from major investment firms. The financial performance and market metrics further reflect the company's standing in the capital market.
C&F Financial Corporation (CFFI) Mission Statement
Corporate Overview
Corporate Overview
C&F Financial Corporation, established in 1990, operates as the holding company for C&F Bank and its subsidiaries. The company is headquartered in West Point, Virginia, and provides a range of financial services, including banking, mortgage services, and wealth management.
Mission Statement
The mission of C&F Financial Corporation is to provide exceptional financial services to its customers while fostering a culture of integrity and accountability. CFFI aims to create value for its shareholders and enhance the communities it serves through sustainable growth and exceptional customer service.
Core Values
- Integrity: Commitment to ethical practices in all business dealings.
- Customer Focus: Prioritizing the needs of customers in service delivery.
- Excellence: Striving for excellence in all aspects of operations.
- Community Engagement: Investing in community development initiatives.
Financial Performance
As of the end of the fiscal year 2022, C&F Financial Corporation reported the following financial metrics:
| Metric | 2022 Amount | 2021 Amount | Percentage Change |
|---|---|---|---|
| Total Assets | $1.5 billion | $1.4 billion | 7.14% |
| Total Deposits | $1.2 billion | $1.1 billion | 9.09% |
| Net Income | $10 million | $8 million | 25% |
| Return on Equity (ROE) | 10.5% | 9.2% | 14.13% |
Customer Base
C&F Financial Corporation serves a diverse customer base, primarily focusing on the following segments:
- Individuals seeking personal banking and loan services.
- Small and medium-sized enterprises requiring business banking solutions.
- Homebuyers in need of mortgage financing options.
- Investors looking for wealth management services.
Community Involvement
CFFI commits a portion of its earnings to community involvement and philanthropic activities. In 2022, the corporation contributed approximately $250,000 to various local charities and initiatives.
Future Goals
C&F Financial Corporation aims to achieve the following objectives over the next five years:
- Expand branch locations by 20% across Virginia and neighboring states.
- Increase digital banking services and enhance user experience.
- Achieve a 15% growth in net income year-over-year.
- Enhance community engagement programs by collaborating with local organizations.
How C&F Financial Corporation (CFFI) Works
Business Overview
C&F Financial Corporation (CFFI), established in 1993, operates as a bank holding company. Its primary subsidiary, C&F Bank, provides a range of banking services.
Financial Performance
As of the latest fiscal year 2022, CFFI reported total assets of approximately $2.03 billion. For the same period, the company achieved net income of $16.1 million and a return on average assets (ROAA) of 0.79%.
| Fiscal Year | Total Assets ($ Billion) | Net Income ($ Million) | Return on Average Assets (%) |
|---|---|---|---|
| 2021 | 1.98 | 14.9 | 0.75 |
| 2022 | 2.03 | 16.1 | 0.79 |
Services Offered
CFFI provides various financial services, including:
- Commercial and retail banking
- Residential mortgage lending
- Consumer finance
- Investment services
Market Segmentation
Target markets for CFFI include:
- Individuals and families
- Small to medium-sized businesses
- Real estate developers
Loan Portfolio
As of December 31, 2022, CFFI's loan portfolio was approximately $1.5 billion, which consists of:
- Commercial loans: $850 million
- Residential mortgages: $400 million
- Consumer loans: $250 million
| Loan Type | Amount ($ Million) |
|---|---|
| Commercial Loans | 850 |
| Residential Mortgages | 400 |
| Consumer Loans | 250 |
Deposits
C&F Financial Corporation reported total deposits of approximately $1.7 billion as of December 31, 2022. The composition of deposits includes:
- Checking accounts: $500 million
- Savings accounts: $600 million
- Time deposits: $600 million
| Deposit Type | Amount ($ Million) |
|---|---|
| Checking Accounts | 500 |
| Savings Accounts | 600 |
| Time Deposits | 600 |
Risk Management
CFFI adopts a comprehensive risk management framework focusing on:
- Credit risk
- Market risk
- Operational risk
Recent Achievements
In 2022, C&F Financial was awarded the Best Bank Award by a reputable financial publication, recognizing its commitment to customer service and financial stability.
Stock Performance
As of October 2023, CFFI's stock price stands at approximately $36.75 per share, with a market capitalization of $210 million.
| Date | Stock Price ($) | Market Cap ($ Million) |
|---|---|---|
| October 2023 | 36.75 | 210 |
How C&F Financial Corporation (CFFI) Makes Money
Primary Revenue Sources
C&F Financial Corporation generates its revenue primarily through several channels, predominantly in the financial services sector. The key revenue streams include:
- Banking Operations
- Mortgage Banking
- Investment Services
Banking Operations
The banking segment of CFFI includes retail banking services that cater to individuals and businesses. As of the end of 2022, the company reported the following statistics related to its banking operations:
| Metric | 2022 Amount | 2021 Amount |
|---|---|---|
| Net Interest Income | $53.4 million | $49.7 million |
| Loan Portfolio | $1.2 billion | $1.1 billion |
| Deposit Portfolio | $1.4 billion | $1.3 billion |
Mortgage Banking
The mortgage banking segment is crucial for CFFI, comprising mortgage origination, servicing, and sales. In 2022, the statistics for mortgage operations are as follows:
| Metric | 2022 Amount | 2021 Amount |
|---|---|---|
| Mortgage Originations | $350 million | $300 million |
| Mortgage Servicing Rights (MSRs) | $12 million | $10 million |
| Gain on Sale of Loans | $7.2 million | $6.5 million |
Investment Services
C&F Financial Corporation provides various investment services, including wealth management and advisory services. Key financial figures from 2022 related to investment services are:
| Metric | 2022 Amount | 2021 Amount |
|---|---|---|
| Assets Under Management (AUM) | $1.1 billion | $1.0 billion |
| Investment Advisory Revenue | $4.3 million | $4.0 million |
| Client Growth (% YoY) | 10% | 8% |
Other Income Sources
In addition to the core segments, C&F Financial Corporation also generates revenue through:
- Fee Income from Banking Services
- Service Charges on Deposits
- Interchange Fees from Card Transactions
Financial Performance Overview
For an overall view of C&F Financial Corporation's financial health, below are some pertinent figures from the latest filings:
| Metric | 2022 Amount | 2021 Amount |
|---|---|---|
| Total Revenue | $72 million | $65 million |
| Net Income | $15 million | $13 million |
| Earnings Per Share (EPS) | $1.40 | $1.20 |
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