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Midas Edge

CF BANKSHARES INC

For the period ended Sep 30, 2024. Filed Nov 13, 2024.

View on SEC.gov

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.

Sep 30, 2024 · Filed Nov 13, 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 September 30, 2024 (unaudited) and December 31, 20233
Consolidated Statements of Income for the three and nine months ended September 30, 2024 and 2023 (unaudited)4
Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 (unaudited)5
Consolidated Statements of Changes in Stockholders’ Equity for the three and nine months ended September 30, 2024 and 2023 (unaudited)6
Consolidated Statements of Cash Flows for the three and nine months ended September 30, 2024 and 2023 (unaudited)8
Notes to Consolidated Financial Statements (unaudited))10
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations38
Item 3. Quantitative and Qualitative Disclosures About Market Risk50
Item 4. Controls and Procedures51
PART II. Other Information52
Item 1. Legal Proceedings52
Item 1A. Risk Factors52
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds52
Item 3. Defaults Upon Senior Securities52
Item 4. Mine Safety Disclosures52
Item 5. Other Information52
Item 6. Exhibits53
Signatures54

CONSOLIDATED BALANCE SHEETS

September 30,December 31,
20242023
(unaudited)
ASSETS
Cash and cash equivalents$233,520$261,595
Interest-bearing deposits in other financial institutions100100
Securities available for sale8,6908,092
Equity securities5,0005,000
Loans held for sale, at fair value5,2401,849
Loans and leases, net of allowance for credit losses of $16,780 and $16,865, respectively1,717,0751,694,133
FHLB and FRB stock8,9088,482
Premises and equipment, net3,4803,812
Operating lease right-of-use assets6,2595,221
Bank owned life insurance26,89926,266
Accrued interest receivable and other assets51,32344,065
Total assets$2,066,494$2,058,615
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits
Noninterest bearing$257,715$235,916
Interest bearing1,487,8611,508,141
Total deposits1,745,5761,744,057
FHLB advances and other debt108,672109,995
Advances by borrowers for taxes and insurance1,2142,179
Operating lease liabilities6,3875,302
Accrued interest payable and other liabilities25,65226,747
Subordinated debentures14,99014,961
Total liabilities1,902,4911,903,241
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: 5,525,611 at September 30, 2024 and 5,665,958 at December 31, 20235557
Non-voting common stock, $0.01 par value;
shares issued: 1,260,700 at September 30, 2024 and December 31, 20231313
Series D preferred stock, $0.01 par value; 5,000 shares authorized;
2,160 shares issued at September 30, 2024 and 0 shares issued at December 31, 2023--
Additional paid-in capital91,91291,068
Retained earnings84,32676,517
Accumulated other comprehensive loss(1,960)(2,290)
Treasury stock, at cost; 398,201 shares of voting common stock at September 30, 2024 and 381,098 shares of voting common stock at December 31, 2023(10,343)(9,991)
Total stockholders' equity164,003155,374
Total liabilities and stockholders' equity$2,066,494$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.