CF BANKSHARES INC.

Previous wording

Most of our deposits and loans come from our market area. Our principal market area for deposits and loans includes the following counties in Ohio and Indiana: Franklin County, Ohio through our offices in Columbus, Ohio; Delaware County, Ohio through our Polaris office in Columbus, Ohio; Cuyahoga County, Ohio through our office in Orange Village, Ohio and our Ohio City office in Cleveland, Ohio; Summit County, Ohio through our office in Fairlawn, Ohio; Hamilton County, Ohio through our offices in Blue Ash, Ohio and our Red Bank office in Cincinnati, Ohio; and Marion County, Indiana through our office in Indianapolis, Indiana. Because of CFBank’s concentration of business activities in Ohio, the Company’s financial condition and results of operations depend in large part upon economic conditions in Ohio.

Current wording

Most of our deposits and loans come from our market area. Our principal market area for deposits and loans includes the following counties in Ohio and Indiana: Franklin County, Ohio through our offices in Columbus, Ohio; Delaware County, Ohio through our Polaris office in Columbus, Ohio; Cuyahoga County, Ohio through our office in Orange Village, Ohio; Summit County, Ohio through our office in Fairlawn, Ohio; Hamilton County, Ohio through our offices in Blue Ash, Ohio and our Red Bank office in Cincinnati, Ohio; and Marion County, Indiana through our office in Indianapolis, Indiana. Because of CFBank’s concentration of business activities in Ohio, the Company’s financial condition and results of operations depend in large part upon economic conditions in Ohio.

Previous wording

General. Assets totaled $2.1 billion at March 31, 2026 and increased $28.5 million, or 1.3%, from $2.1 billion at December 31, 2025. The increase was primarily due to a $22.4 million increase in net loans and leases and an $8.8 million increase in cash and cash equivalents.

Current wording

General. Assets totaled $2.17 billion at June 30, 2026 and increased $52.3 million, or 2.5%, from $2.12 billion at December 31, 2025. The increase was primarily due to a $59.7 million increase in net loans and leases, partially offset by a $5.9 million decrease in cash and cash equivalents.

Previous wording

Cash and cash equivalents. Cash and cash equivalents totaled $267.8 million at March 31, 2026, and increased $8.8 million, or 3.4%, from $259.0 million at December 31, 2025. The increase in cash and cash equivalents was primarily attributed to a $28.8 million increase in deposits, partially offset by a $22.4 million increase in net loans and leases.

Current wording

Cash and cash equivalents. Cash and cash equivalents totaled $253.1 million at June 30, 2026, and decreased $5.9 million, or 2.3%, from $259.0 million at December 31, 2025. The decrease in cash and cash equivalents was primarily attributed to a $59.7 million increase in net loans and leases, partially offset by a $48.0 million increase in deposits.

Previous wording

Securities. Securities available for sale totaled $17.4 million at March 31, 2026, and decreased $101,000, or 0.6%, compared to $17.5 million at December 31, 2025.

Current wording

Securities. Securities available for sale totaled $17.2 million at June 30, 2026, and decreased $273,000, or 1.6%, compared to $17.5 million at December 31, 2025.

Previous wording

Loans held for sale. Loans held for sale totaled $3.6 million at March 31, 2026, and decreased $2.0 million, or 35.2%, from $5.6 million at December 31, 2025.

Current wording

Loans held for sale. Loans held for sale totaled $4.4 million at June 30, 2026, and decreased $1.2 million, or 21.7%, from $5.6 million at December 31, 2025.

Previous wording

Loans and Leases. Net loans and leases totaled $1.76 billion at March 31, 2026, and increased $22.4 million, or 1.3%, from $1.74 billion at December 31, 2025. The increase in loans and leases balances was primarily due to a $17.1 million increase in commercial real estate loan balances, an $8.7 million increase in commercial and industrial (C&I) loan balances, and an $8.3 million increase in construction loan balances, partially offset by a $10.5 million decrease in single-family residential loan balances.

Current wording

Loans and Leases. Net loans and leases totaled $1.80 billion at June 30, 2026, and increased $59.7 million, or 3.4%, from $1.74 billion at December 31, 2025. The increase in loans and leases balances was primarily due to a $69.9 million increase in commercial real estate loan balances, a $10.4 million increase in commercial and industrial (C&I) loan balances, and a $6.1 million increase in construction loan balances, partially offset by a $21.4 million decrease in single-family residential loan balances and a $3.7 million decrease in home equity lines of credit loan balances.

Previous wording

Allowance for Credit Losses on Loans. The allowance for credit losses on loans (“ACL – Loans”) totaled $18.6 million at March 31, 2026, and increased $963,000, or 5.5%, from $17.7 million at December 31, 2025. The ratio of the ACL - Loans to total loans was 1.05% at March 31, 2026, compared to 1.01% at December 31, 2025.

Current wording

Allowance for Credit Losses on Loans. The allowance for credit losses on loans (“ACL – Loans”) totaled $19.4 million at June 30, 2026, and increased 1.7 million, or 9.9%, from $17.7 million at December 31, 2025. The ratio of the ACL - Loans to total loans was 1.07% at June 30, 2026, compared to 1.01% at December 31, 2025.

Previous wording

Individually evaluated loans totaled $17.2 million at March 31, 2026, and increased $4.8 million, or 39.0%, from $12.4 million at December 31, 2025. The amount of the ACL - Loans specifically calculated for individually evaluated loans totaled $3.0 million at March 31, 2026 and $2.8 million at December 31, 2025.

Current wording

Individually evaluated loans totaled $18.1 million at June 30, 2026, and increased $5.7 million, or 46.1%, from $12.4 million at December 31, 2025. The amount of the ACL - Loans specifically calculated for individually evaluated loans totaled $3.4 million at June 30, 2026 and $2.8 million at December 31, 2025.

Previous wording

The reserve on individually evaluated loans is based on management’s estimate of the present value of estimated future cash flows using the loan’s effective rate or the fair value of collateral, if repayment is expected solely from the collateral. On at least a quarterly basis, management reviews each individually evaluated loan to determine whether it should have a reserve or partial charge-off. Management relies on appraisals or internal evaluations to help make this determination. Determination of whether to use an updated appraisal or internal evaluation is based on factors including, but not limited to, the age of the loan and the most recent appraisal, condition of the property and whether we expect the collateral to go through the foreclosure or liquidation process. Management considers the need for a downward adjustment to the valuation based on current market conditions and on management’s analysis, judgment and experience. The amount ultimately charged-off for these loans may be different from the reserve, as the ultimate liquidation of the collateral and/or projected cash flows may be different from management’s estimates.

Current wording

The reserve on each individually evaluated loan is based on management’s estimate of the present value of estimated future cash flows using the loan’s effective rate or the fair value of collateral, if repayment is expected solely from the collateral. On at least a quarterly basis, management reviews each individually evaluated loan to determine whether it should have a reserve or partial charge-off. Management relies on appraisals or internal evaluations to help make this determination. Determination of whether to use an updated appraisal or internal evaluation is based on factors including, but not limited to, the age of the loan and the most recent appraisal, condition of the property and whether we expect the collateral to go through the foreclosure or liquidation process. Management considers the need for a downward adjustment to the valuation based on current market conditions and on management’s analysis, judgment and experience. The amount ultimately charged-off for these loans may be different from the reserve, as the ultimate liquidation of the collateral and/or projected cash flows may be different from management’s estimates.

Previous wording

Nonperforming loans, which include nonaccrual loans and loans at least 90 days past due but still accruing interest, totaled $20.3 million at March 31, 2026, and increased $5.0 million from $15.3 million at December 31, 2025. The increase in nonaccrual loans included the addition of one non-core (syndicated) commercial and industrial (C&I) loan for $5.0 million. The ratio of nonperforming loans to total loans was 1.14% at March 31, 2026 compared to 0.87% at December 31, 2025.

Current wording

Nonperforming loans, which include nonaccrual loans and loans at least 90 days past due but still accruing interest, totaled $20.8 million at June 30, 2026, and increased $5.5 million from $15.3 million at December 31, 2025. The increase in nonaccrual loans included the addition of one non-core (syndicated) commercial and industrial (C&I) loan for $5.0 million. The ratio of nonperforming loans to total loans was 1.15% at June 30, 2026 compared to 0.87% at December 31, 2025.

Previous wording

During the three months ended March 31, 2026 and 2025, the Company did not modify any loans where the borrower was experiencing financial difficulty.

Current wording

During the three and six months ended June 30, 2026 and 2025, the Company did not modify any loans where the borrower was experiencing financial difficulty.

Previous wording

The level of total criticized and classified loans increased by $28.0 million, or 97.2%, during the three months ended March 31, 2026. The increase in criticized and classified loans was primarily the result of two relationships that were downgraded during the quarter ended March 31, 2026. Loans designated as special mention increased $23.0 million, or 123.9%, and totaled $41.5 million at March 31, 2026, compared to $18.5 million at December 31, 2025. Loans classified as substandard increased $5.0 million, or 50.9%, and totaled $14.9 million at March 31, 2026, compared to $9.9 million at December 31, 2025. Loans designated as doubtful totaled $385,000 at both March 31, 2026 and December 31, 2025. See Note 4-Loans and Leases to our Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information regarding risk classification of loans.

Current wording

The level of total criticized and classified loans increased by $35.4 million, or 123.1%, during the six months ended June 30, 2026. The increase in criticized and classified loans was primarily the result of three relationships that were downgraded during the six months ended June 30, 2026. Loans designated as special mention increased $29.9 million, or 161.3%, and totaled $48.4 million at June 30, 2026, compared to $18.5 million at December 31, 2025. Loans classified as substandard increased $5.5 million, or 56.2%, and totaled $15.4 million at June 30, 2026, compared to $9.9 million at December 31, 2025. Loans designated as doubtful totaled $385,000 at both June 30, 2026 and December 31, 2025. See Note 4 -Loans and Leases to our Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information regarding risk classification of loans.

Previous wording

Total past due loans increased $4.6 million and totaled $17.5 million at March 31, 2026, compared to $12.9 million at December 31, 2025. Past due loans totaled 1.0% of the loan portfolio at March 31, 2026, compared to 0.7% at December 31, 2025. See Note 4-Loans and Leases to our Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information regarding loan delinquencies.

Current wording

Total past due loans increased $7.5 million and totaled $20.4 million at June 30, 2026, compared to $12.9 million at December 31, 2025. Past due loans totaled 1.1% of the loan portfolio at June 30, 2026, compared to 0.7% at December 31, 2025. See Note 4 -Loans and Leases to our Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information regarding loan delinquencies.

Previous wording

Loans that contain interest only payments may present a higher risk than those loans with an amortizing payment that includes periodic principal reductions. Interest only loans are primarily commercial lines of credit secured by business assets and inventory, and consumer home equity lines of credit secured by the borrower’s primary residence. Due to the fluctuations in business assets and inventory of our commercial borrowers, CFBank has increased risk due to a potential decline in collateral values without a corresponding decrease in the outstanding principal. Interest only commercial lines of credit totaled $122.6 million, or 32.4%, of CFBank’s commercial portfolio, at March 31, 2026, compared to $111.2 million, or 30.1%, at December 31, 2025. Interest only home equity lines of credit totaled $40.9 million, or 98.7%, of the total home equity lines of credit at March 31, 2026, compared to $41.1 million, or 98.5%, at December 31, 2025.

Current wording

Loans that contain interest only payments may present a higher risk than those loans with an amortizing payment that includes periodic principal reductions. Interest only loans are primarily commercial lines of credit secured by business assets and inventory, and consumer home equity lines of credit secured by the borrower’s primary residence. Due to the fluctuations in business assets and inventory of our commercial borrowers, CFBank has increased risk due to a potential decline in collateral values without a corresponding decrease in the outstanding principal. Interest only commercial lines of credit totaled $145.4 million, or 38.3%, of CFBank’s commercial portfolio at June 30, 2026, compared to $111.2 million, or 30.1%, at December 31, 2025. Interest only home equity lines of credit totaled $37.8 million, or 98.7%, of the total home equity lines of credit at June 30, 2026, compared to $41.1 million, or 98.5%, at December 31, 2025.

Previous wording

Deposits. Deposits totaled $1.81 billion at March 31, 2026, an increase of $28.8 million, or 1.6%, when compared to $1.78 billion at December 31, 2025. The increase when compared to December 31, 2025 was primarily due to a $73.7 million increase in interest-bearing account balances, partially offset by a $44.9 million decrease in noninterest-bearing account balances. The increase in interest-bearing account balances and the decrease in noninterest-bearing balances were primarily driven by customer movement between account types.

Current wording

Deposits. Deposits totaled $1.83 billion at June 30, 2026, an increase of $48.0 million, or 2.7%, when compared to $1.78 billion at December 31, 2025. The increase when compared to December 31, 2025 was primarily due to a $59.9 million increase in interest-bearing account balances, partially offset by an $11.9 million decrease in noninterest-bearing accounts balances. The increase in interest-bearing account balances and the decrease in noninterest-bearing balances were primarily driven by new customer deposits, partially offset by customer movement between account types.

Previous wording

At March 31, 2026, approximately 29.8% of our deposit balances exceeded the FDIC insurance limit of $250,000, as compared to approximately 29.5% at December 31, 2025.

Current wording

At June 30, 2026, approximately 32.0% of our deposit balances exceeded the FDIC insurance limit of $250,000, as compared to approximately 29.5% at December 31, 2025.

Previous wording

CFBank is a participant in the Certificate of Deposit Account Registry Service® (CDARS) and Insured Cash Sweep (ICS) programs offered through IntraFi. IntraFi works with a network of banks to offer products that can provide FDIC insurance coverage in excess of $250,000 through these innovative products. Brokered deposits, including CDARS and ICS deposits that qualify as brokered, totaled $405.3 million at March 31, 2026, and increased $4.9 million, or 1.2%, from $400.4 million at December 31, 2025. Customer balances in the CDARS reciprocal and ICS reciprocal programs, which do not qualify as brokered, totaled $278.0 million at March 31, 2026, and decreased $750,000, or 0.3%, from $278.7 million at December 31, 2025.

Current wording

CFBank is a participant in the Certificate of Deposit Account Registry Service® (CDARS) and Insured Cash Sweep (ICS) programs offered through IntraFi. IntraFi works with a network of banks to offer products that can provide FDIC insurance coverage in excess of $250,000 through these innovative products. Brokered deposits, including CDARS and ICS deposits that qualify as brokered, totaled $334.1 million at June 30, 2026, and decreased $66.5 million, or 16.5%, from $400.4 million at December 31, 2025. Customer balances in the CDARS reciprocal and ICS reciprocal programs, which do not qualify as brokered, totaled $298.7 million at June 30, 2026, and increased $20.0 million, or 7.1%, from $278.7 million at December 31, 2025.

Previous wording

FHLB advances and other debt. FHLB advances and other debt totaled $101.0 million at March 31, 2026 and December 31, 2025.

Current wording

FHLB advances and other debt. FHLB advances and other debt totaled $99.2 million at June 30, 2026 and $101.0 million at December 31, 2025. The decrease was primarily due to a $1.8 million decrease in the outstanding balance on the Holding Company credit facility.

Previous wording

The Holding Company has a credit facility with a third-party bank. Prior to April 30, 2025, the credit facility had a borrowing limit of $35 million with a revolving feature until May 21, 2024, at which time the outstanding balance was converted to a 10-year term note on a graduated 10-year amortization. Borrowings on the credit facility bore interest at a fixed rate of 3.85% until May 21, 2026, at which time the interest rate then would convert to a floating rate equal to PRIME with a floor of 3.25%. Effective April 30, 2025, an additional $10 million revolving line of credit was added to the credit facility and the interest rate was amended to reset the fixed rate to 6.00% until May 21, 2026, at which time the rate will convert to a floating rate equal to PRIME. The $10 million revolving line of credit matures on April 30, 2027. The revolving line of credit provided an additional $10 million that was injected as additional Tier 1 capital into CFBank during the second quarter of 2025. At March 31, 2026, the Company had an outstanding balance, net of unamortized debt issuance costs, of $43.0 million on the credit facility.

Current wording

The Holding Company has a credit facility with a third-party bank. Prior to April 30, 2025, the credit facility had a borrowing limit of $35 million with a revolving feature until May 21, 2024, at which time the outstanding balance was converted to a 10-year term note on a graduated 10-year amortization. Borrowings on the credit facility bore interest at a fixed rate of 3.85% until May 21, 2026, at which time the interest rate then would convert to a floating rate equal to PRIME with a floor of 3.25%. Effective April 30, 2025, an additional $10 million revolving line of credit was added to the credit facility and the interest rate was amended to reset the fixed rate to 6.00% until May 21, 2026, at which time the rate converted to a floating rate equal to PRIME. The $10 million revolving line of credit matures on April 30, 2027. The revolving line of credit provided an additional $10 million that was injected as additional Tier 1 capital into CFBank during the second quarter of 2025. At June 30, 2026, the Company had an outstanding balance, net of unamortized debt issuance costs, of $41.2 million on the credit facility.

Previous wording

Subordinated debentures. Subordinated debentures totaled $15.0 million at March 31, 2026 and December 31, 2025. In December 2018, the Holding Company entered into subordinated note purchase agreements with certain qualified institutional buyers and completed a private placement of $10.0 million of fixed-to-floating rate subordinated notes, resulting in net proceeds of $9.6 million after deducting unamortized debt issuance costs of approximately $388,000. In 2003, the Holding Company issued subordinated debentures in exchange for the proceeds of a $5.0 million trust preferred securities offering issued by a trust formed by the Holding Company. The terms of the subordinated debentures allow for the Holding Company to defer interest payments for a period not to exceed five years. Interest payments on the subordinated debentures were current at March 31, 2026 and December 31, 2025.

Current wording

Subordinated debentures. Subordinated debentures totaled $15.1 million at June 30, 2026 and $15.0 million at December 31, 2025. In December 2018, the Holding Company entered into subordinated note purchase agreements with certain qualified institutional buyers and completed a private placement of $10.0 million of fixed-to-floating rate subordinated notes, resulting in net proceeds of $9.6 million after deducting unamortized debt issuance costs of approximately $388,000. In 2003, the Holding Company issued subordinated debentures in exchange for the proceeds of a $5.0 million trust preferred securities offering issued by a trust formed by the Holding Company. The terms of the subordinated debentures allow for the Holding Company to defer interest payments for a period not to exceed five years. Interest payments on the subordinated debentures were current at June 30, 2026 and December 31, 2025.

Previous wording

Stockholders’ equity. Stockholders’ equity totaled $189.0 million at March 31, 2026, an increase of $4.6 million, or 2.5%, from $184.4 million at December 31, 2025. The increase in stockholders’ equity during the three months ended March 31, 2026 was primarily attributed to net income, partially offset by $583,000 in dividend payments.

Current wording

Stockholders’ equity. Stockholders’ equity totaled $194.3 million at June 30, 2026, an increase of $9.9 million, or 5.4%, from $184.4 million at December 31, 2025. The increase in stockholders’ equity during the six months ended June 30, 2026 was primarily attributed to net income, partially offset by $1.2 million in dividend payments.

Previous wording

General. Net income for the three months ended March 31, 2026 totaled $5.0 million (or $0.77 per diluted common share) compared to net income of $4.4 million (or $0.68 per diluted common share) for the three months ended March 31, 2025. The increase in net income was primarily the result of an increase in net interest income and noninterest income, partially offset by an increase in noninterest expense.

Current wording

General. Net income for the three months ended June 30, 2026 totaled $5.9 million (or $0.90 per diluted common share) compared to net income of $5.0 million (or $0.77 per diluted common share) for the three months ended June 30, 2025. The increase in net income was primarily the result of an increase in net interest income, a decrease in provision for credit losses expense and an increase in noninterest income, partially offset by an increase in noninterest expense.

Previous wording

Net interest income totaled $13.3 million for the quarter ended March 31, 2026 and increased $411,000, or 3.2%, compared to net interest income of $12.9 million for the quarter ended March 31, 2025. The increase was primarily due to a $1.5 million, or 9.1%, decrease in interest expense, partially offset by a $1.1 million, or 3.7%, decrease in interest income. The decrease in interest expense was primarily attributed to a 50bps decrease in the average rate on interest-bearing liabilities, partially offset by a $56.6 million, or 3.6%, increase in average interest-bearing liabilities. The decrease in interest income was primarily attributed to a 30bps decrease in the average yield on interest-earning assets, partially offset by a $28.3 million, or 1.5%, increase in average interest-earning assets outstanding. During the quarter ended March 31, 2026, we placed a $5.0 million loan on nonaccrual status, which resulted in a $528,000 decline in interest income during the quarter and a corresponding 11bps decline in net interest margin and the average yield on loans. The net interest margin of 2.69% for the quarter ended March 31, 2026 increased 5bps compared to the net interest margin of 2.64% for the first quarter of 2025.

Current wording

Net interest income totaled $14.8 million for the quarter ended June 30, 2026 and increased $843,000, or 6.0%, compared to net interest income of $14.0 million for the quarter ended June 30, 2025. The increase was primarily due to a $1.2 million, or 7.2%, decrease in interest expense, partially offset by a $337,000, or 1.1%, decrease in interest income. The decrease in interest expense was primarily attributed to a 37bps decrease in the average rate on interest-bearing liabilities, partially offset by a $30.6 million, or 2.0%, increase in average interest-bearing liabilities. The decrease in interest income was primarily attributed to a 21bps decrease in the average yield on interest-earning assets, partially offset by a $48.5 million, or 2.5%, increase in average interest-earning assets outstanding. The net interest margin of 2.93% for the quarter ended June 30, 2026 increased 10bps compared to the net interest margin of 2.83% for the second quarter of 2025.

Previous wording

Provision for credit losses. There was $604,000 in provision for credit losses expense for the quarter ended March 31, 2026, which reflected an increase of $22,000, compared to a $582,000 provision for the quarter ended March 31, 2025. Net charge-offs for the quarter ended March 31, 2026 totaled $16,000 compared to net charge-offs of $23,000 for the quarter ended March 31, 2025.

Current wording

Provision for credit losses. There was $944,000 in provision for credit losses expense for the quarter ended June 30, 2026, which reflected a decrease of $483,000, compared to $1.4 million in provision expense for the quarter ended June 30, 2025. Net recoveries for the quarter ended June 30, 2026 totaled $106,000 compared to net charge-offs of $51,000 for the quarter ended June 30, 2025.

Previous wording

Noninterest income. Noninterest income for the quarter ended March 31, 2026 totaled $1.5 million and increased $281,000, or 23.3%, compared to $1.2 million for the quarter ended March 31, 2025. The increase was primarily related to a $172,000 increase in service charges on deposit accounts.

Current wording

Noninterest income. Noninterest income for the quarter ended June 30, 2026 totaled $1.7 million and increased $121,000, or 7.7%, compared to $1.6 million for the quarter ended June 30, 2025. The increase was primarily related to a $196,000 increase in service charges on deposit accounts.

Previous wording

Income tax expense. Income tax expense was $868,000 for the quarter ended March 31, 2026, a decrease of $281,000, or 24.5%, compared to $1.1 million for the quarter ended March 31, 2025. The effective tax rate for the quarter ended March 31, 2026 was approximately 14.7%, as compared to approximately 20.6% for the quarter ended March 31, 2025. The decline in the effective tax rate for the quarter ended March 31, 2026 was driven by the impact of low-income housing and historic tax credit investments.

Current wording

Income tax expense. Income tax expense was $1.4 million for the quarter ended June 30, 2026, a decrease of $14,000, or 1.0%, compared to $1.4 million for the quarter ended June 30, 2025. The effective tax rate for the quarter ended June 30, 2026 was approximately 18.6%, as compared to approximately 21.3% for the quarter ended June 30, 2025. The decline in the effective tax rate for the quarter ended June 30, 2026 was driven by the impact of low-income housing and historic tax credit investments.

Previous wording

We believe there have been no significant changes during the three months ended March 31, 2026 to the items that we disclosed as our critical accounting policies and estimates in Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended December 31, 2025.

Current wording

We believe there have been no significant changes during the six months ended June 30, 2026 to the items that we disclosed as our critical accounting policies and estimates in Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended December 31, 2025.

Previous wording

Cash, unpledged securities and deposits in other financial institutions increased $8.7 million, or 3.2%, to $282.0 million at March 31, 2026, compared to $273.3 million at December 31, 2025.

Current wording

Cash, unpledged securities and deposits in other financial institutions decreased $6.1 million, or 2.3%, to $267.2 million at June 30, 2026, compared to $273.3 million at December 31, 2025.

Previous wording

CFBank’s additional borrowing capacity with the FHLB increased $8.2 million, or 4.4%, to $192.5 million at March 31, 2026, compared to $184.4 million at December 31, 2025.

Current wording

CFBank’s additional borrowing capacity with the FHLB decreased $6.6 million, or 3.6%, to $177.8 million at June 30, 2026, compared to $184.4 million at December 31, 2025.

Previous wording

CFBank’s additional borrowing capacity at the FRB increased $14.8 million, or 12.1%, to $137.2 million at March 31, 2026 from $122.4 million at December 31, 2025. CFBank is eligible to participate in the FRB’s primary credit program, providing CFBank access to short-term funds at any time, for any reason, based on the collateral pledged.

Current wording

CFBank’s additional borrowing capacity at the FRB increased $21.5 million, or 17.6%, to $143.9 million at June 30, 2026 from $122.4 million at December 31, 2025. CFBank is eligible to participate in the FRB’s primary credit program, providing CFBank access to short-term funds at any time, for any reason, based on the collateral pledged.

Previous wording

Currently, annual debt service on the subordinated debentures underlying the Company’s trust preferred securities is approximately $350,000. The rate of interest on the subordinated debentures resets quarterly to the three-month Secured Overnight Financing Rate (SOFR) plus 3.112%, which was 6.81% at March 31, 2026.

Current wording

Currently, annual debt service on the subordinated debentures underlying the Company’s trust preferred securities is approximately $355,000. The rate of interest on the subordinated debentures resets quarterly to the three-month Secured Overnight Financing Rate (SOFR) plus 3.112%, which was 6.84% at June 30, 2026.

Previous wording

Currently, the annual debt service on the Company’s $10 million of fixed-to-floating rate subordinated notes is approximately $810,000. The subordinated notes initially bore a fixed rate of 7.00% until December 2023, and now the interest rate resets quarterly to a rate equal to the current three-month SOFR plus 4.402%, which was 8.10% at March 31, 2026.

Current wording

Currently, the annual debt service on the Company’s $10 million of fixed-to-floating rate subordinated notes is approximately $815,000. The subordinated notes initially bore a fixed rate of 7.00% until December 2023, and now the interest rate resets quarterly to a rate equal to the current three-month SOFR plus 4.402%, which was 8.13% at June 30, 2026.

Previous wording

The Holding Company has a credit facility with a third-party bank. Prior to April 30, 2025, the credit facility had a borrowing limit of $35 million with a revolving feature until May 21, 2024, at which time the outstanding balance was converted to a 10-year term note on a graduated 10-year amortization. Borrowings on the credit facility bore interest at a fixed rate of 3.85% until May 21, 2026, at which time the interest rate would convert to a floating rate equal to PRIME with a floor of 3.25%. Effective April 30, 2025, an additional $10 million revolving line of credit was added to the credit facility and the interest rate was amended to reset the fixed rate to 6.00% until May 21, 2026, at which time the rate will convert to a floating rate equal to PRIME. The $10 million revolving line of credit matures on April 30, 2027. The revolving line of credit provided an additional $10 million that was injected as additional Tier 1 capital into CFBank during the second quarter of 2025. At March 31, 2026, the Company had an outstanding balance, net of unamortized debt issuance costs, of $43.0 million on the credit facility.

Current wording

The Holding Company has a credit facility with a third-party bank. Prior to April 30, 2025, the credit facility had a borrowing limit of $35 million with a revolving feature until May 21, 2024, at which time the outstanding balance was converted to a 10-year term note on a graduated 10-year amortization. Borrowings on the credit facility bore interest at a fixed rate of 3.85% until May 21, 2026, at which time the interest rate would convert to a floating rate equal to PRIME with a floor of 3.25%. Effective April 30, 2025, an additional $10 million revolving line of credit was added to the credit facility and the interest rate was amended to reset the fixed rate to 6.00% until May 21, 2026, at which time the rate converted to a floating rate equal to PRIME. The $10 million revolving line of credit matures on April 30, 2027. The revolving line of credit provided an additional $10 million that was injected as additional Tier 1 capital into CFBank during the second quarter of 2025. At June 30, 2026, the Company had an outstanding balance, net of unamortized debt issuance costs, of $41.2 million on the credit facility.