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CF BANKSHARES INC., PARENT OF CFBANK NA, REPORTS RESULTS FOR THE 1ST QUARTER 2025
CF Bankshares Inc. (NASDAQ: CFBK) (the "Company"), the parent of CFBank, National Association ("CFBank"), today announced financial results for the first quarter ended March 31, 2025.
About this update from Cf Bankshares Inc.
[{"type":"text","content":"COLUMBUS, Ohio, May 6, 2025 /PRNewswire/ -- CF Bankshares Inc. (NASDAQ: CFBK) (the "Company"), the parent of CFBank, National Association ("CFBank"), today announced financial results for the first quarter ended March 31, 2025.","length":247,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/CF Bankshares Inc.)","displaySize":"","headline":null,"caption":"(PRNewsfoto/CF Bankshares Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":71,"url":"https://media.zenfs.com/en/prnewswire.com/90cbbd72eb364c6ca55f5deab7b1a877"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Z1mg53PfHNOHwLYmkGzMOQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTEyNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/90cbbd72eb364c6ca55f5deab7b1a877","width":400,"height":71}},"href":"https://mma.prnewswire.com/media/1220151/CF_Bankshares_Inc_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"First Quarter 2025 Highlights","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income for Q1 2025 was $4.4 million ($0.68 per diluted common share), which included $600k of Provision expense. This represents a 44% increase in net income over Q1 2024. Pre-provision, pre-tax net revenue (PPNR) for Q1 2025 was $6.2 million.","length":247,"tagName":"p"}]},{"val":[{"type":"text","content":"Book value per share increased to $25.86 as of March 31, 2025.","length":62,"tagName":"p"}]},{"val":[{"type":"text","content":"Return on Average Equity (ROE) was 10.37% for the first quarter, while Return on Average Assets (ROA) was 0.86%. Q1 results included elevated payroll tax expense, which is typical for the first quarter of the year.","length":214,"tagName":"p"}]},{"val":[{"type":"text","content":"Net Interest Margin (NIM) increased 7bps when compared to the prior quarter and increased 28bps when compared to the first quarter of 2024. This represents the fourth consecutive quarter in which we have achieved NIM expansion.","length":227,"tagName":"p"}]},{"val":[{"type":"text","content":"Noninterest bearing (NIB) deposit balances grew by $18 million, an increase of 7% during the first quarter of 2025.","length":115,"tagName":"p"}]},{"val":[{"type":"text","content":"During Q1, we completed the sale of two portfolios of residential mortgage loans totaling $18.1 million. Proc...