Business
Central Federal Corporation, Parent of CFBank, Announces Stock Repurchase Program
COLUMBUS, Ohio, March 17, 2020 /PRNewswire/ -- Central Federal Corporation (NASDAQ: CFBK) (the "Company") the parent of CFBank, announced that the Board of
About this update from Cf Bankshares Inc.
[{"type":"text","content":"COLUMBUS, Ohio, March 17, 2020 /PRNewswire/ -- Central Federal Corporation (NASDAQ: CFBK) (the \"Company\") the parent of CFBank, announced that the Board of Directors of Central Federal Corporation (the \"Company) has authorized a stock repurchase program pursuant to which the Company may repurchase up to 3% of the Company's outstanding common stock over the period ending September 30, 2020. Under the stock repurchase program, the Company may purchase shares of its common stock from time to time through various means, including open market transactions and privately negotiated transactions. Open market repurchases will be made in accordance with applicable securities laws and regulations, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the \"Exchange Act\"), and may be effected pursuant to Rule 10b5-1 under the Exchange Act. The manner, timing and amount of any stock repurchases will be determined by the Company's management in its discretion based on its evaluation of various factors, including the trading price of the Company's common stock, market and economic conditions, regulatory requirements and other corporate considerations. The repurchase program may be suspended or discontinued at any time.\nTimothy T. O'Dell, President and CEO, commented \"We believe our stock is a good value, and the Board's approval of this stock repurchase program reflects confidence in our Company's intrinsic value. Repurchasing stock underscores our commitment to enhancing shareholder value and demonstrates confidence in our business model.\"\nAbout Central Federal Corporation and CFBank\nCentral Federal Corporation is a financial holding company that owns 100% of the stock of CFBank, National Association (CFBank), which was formed in Ohio in 1892 and converted from a federal savings association to a national bank on December 1, 2016. CFBank has a presence in four major metro Ohio markets – Columbus, Cleveland, Cincinnati and Akron- as well as its two branch locations in Columbiana County, Ohio. Also, in March 2019, CFBank opened a branch location in Blue Ash, Ohio, which is its second location in the Cincinnati market. CFBank provides personalized Business Banking products and services including commercial loans and leases, commercial and residential real estate loans and treasury management depository services. As...