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Midas Edge

CF BANKSHARES INC

For the period ended Mar 31, 2024. Filed May 14, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 14, 2024

CFBK$35.15+0.5%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Table of Contents

EX

PART I. Financial InformationPage
Item 1. Financial Statements3
Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 20233
Consolidated Statements of Income for the three months ended March 31, 2024 and 2023 (unaudited)4
Consolidated Statements of Comprehensive Income for the three months ended March 31, 2024 and 2023 (unaudited)5
Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2024 and 2023 (unaudited)6
Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (unaudited)7
Notes to Consolidated Financial Statements (three months ended March 31, 2024 and 2023 (unaudited))9
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations36
Item 3. Quantitative and Qualitative Disclosures About Market Risk46
Item 4. Controls and Procedures47
PART II. Other Information48
Item 1. Legal Proceedings48
Item 1A. Risk Factors48
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds48
Item 3. Defaults Upon Senior Securities48
Item 4. Mine Safety Disclosures48
Item 5. Other Information48
Item 6. Exhibits49
Signatures50

CONSOLIDATED BALANCE SHEETS

March 31,December 31,
20242023
(unaudited)
ASSETS
Cash and cash equivalents$236,892$261,595
Interest-bearing deposits in other financial institutions100100
Securities available for sale7,5978,092
Equity securities5,0005,000
Loans held for sale, at fair value2,2411,849
Loans and leases, net of allowance of $18,198 and $16,865, respectively1,695,7311,694,133
FHLB and FRB stock8,4918,482
Premises and equipment, net3,6853,812
Operating lease right-of-use assets5,0415,221
Bank owned life insurance26,47026,266
Accrued interest receivable and other assets48,22544,065
Total assets$2,039,473$2,058,615
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits
Noninterest bearing$236,841$235,916
Interest bearing1,486,2291,508,141
Total deposits1,723,0701,744,057
FHLB advances and other debt111,004109,995
Advances by borrowers for taxes and insurance1,0932,179
Operating lease liabilities5,1275,302
Accrued interest payable and other liabilities26,20926,747
Subordinated debentures14,97114,961
Total liabilities1,881,4741,903,241
Commitments and contingent liabilities--
Stockholders' equity
Common stock, $0.01 par value;
shares authorized: 9,090,909, including 1,260,700 shares of non-voting common stock
Voting common stock, $0.01 par value; shares issued: 5,473,026 at March 31, 2024 and 5,665,958 at December 31, 20235557
Non-voting common stock, $0.01 par value;
shares issued: 1,260,700 at March 31, 2024 and December 31, 20231313
Series D preferred stock, $0.01 par value; 5,000 shares authorized;
2,000 shares issued at March 31, 2024 and 0 shares issued at December 31, 2023--
Additional paid-in capital91,30391,068
Retained earnings79,20176,517
Accumulated other comprehensive loss(2,281)(2,290)
Treasury stock, at cost; 395,611 shares of voting common stock at March 31, 2024 and 381,098 shares of voting common stock at December 31, 2023(10,292)(9,991)
Total stockholders' equity157,999155,374
Total liabilities and stockholders' equity$2,039,473$2,058,615
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.