C&f Financial Corporation · NASDAQ:CFFI
C&f Financial — Q2 2025 Earnings Presentation
31 slides from C&f Financial's earnings presentation, Jul 24, 2025
Slide 1: C&F Financial Corporation Second Quarter 2025 Investor Presentation
C&F Financial Corporation NASDAQ: CFFI Second Quarter 2025 Investor Presentation
Slide 2: Cautionary Statements
Cautionary Statements Second Quarter 2025 Investor Presentation Forward-Looking Statements. Certain statements in this presentation may constitute “forward-looking statements” within the meaning of federal securities laws. These forward-looking statements are based on the beliefs of the Corporation’
Slide 3: Investment Highlights (as of 6/30/2025)
Investment Highlights (as of 6/30/2025) Second Quarter 2025 Investor Presentation $2.69 Total Assets ($B) $193.2 Market Cap ($mil) • Recent expansion into Southwest Virginia with the opening of a new loan production office in July 2025 • Strong balance sheet and asset quality • Strong community bank
Slide 4: Quarterly Trends
Quarterly Trends Second Quarter 2025 Investor Presentation * Non-GAAP financial measure. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” Earnings per Share (EPS) ($) $1.01 $1.50 $1.65 $1.87 $1.66 $2.
Slide 5: Our Executive Leadership
Our Executive Leadership Second Quarter 2025 Investor Presentation • President of C&F Bank • 25+ years in leadership at C&F • 30+ years in financial services industry including leadership experience with the Virginia Bankers Association and PricewaterhouseCoopers Thomas F. Cherry President & CEO C&F
Slide 6: Awards
Awards Second Quarter 2025 Investor Presentation 6
Slide 7: Our Vision and Promise
Our Vision and Promise Second Quarter 2025 Investor Presentation 7
Slide 8: Our Lines of Business
Our Lines of Business Second Quarter 2025 Investor Presentation 45% 75% 87% 89% 85% 85% 24% 4% 2% 5% 7% 10% 31% 21% 11% 6% 8% 5% $28.7 $29.2 $23.6 $19.8 $8.4 $13.1 2021 2022 2023 2024 Jun-24 YTD Jun-25 YTD Net Income ($mil) and Contribution by Segment Community Banking Mortgage Banking Consumer Fina
Slide 9: Community Banking Segment
$1,024 $1,161 $1,273 $1,454 $1,530 2021 2022 2023 2024 Jun-25 Total Loans, excl PPP * Total Loans, excl PPP Community Banking Segment Second Quarter 2025 Investor Presentation • Loans grew $76.7 million, or 10.6% annualized, and $143.4 million, or 10.3%, compared to December 31, 2024 and June 30, 20
Slide 10: Community Banking Segment
Community Banking Segment Second Quarter 2025 Investor Presentation The footprint includes 7 of the top 10 “non-Northern Virginia” counties and cities in 2025 median household income and 4 of the top 10 in projected population growth through 2030 Demographic data is provided by Claritas based primar
Slide 11: Mortgage Banking Segment
Mortgage Banking Segment Second Quarter 2025 Investor Presentation • Onboarded large group of loan officers on March 31, 2025 who are projected to bring in new mortgage loan originations of approx. $100- 125 million on an annual basis • Division to provide mortgage loan origination as a service • Or
Slide 12: Mortgage Banking Segment
Mortgage Banking Segment Second Quarter 2025 Investor Presentation Lender Solutions is a growing division of C&F’s mortgage banking segment that provides mortgage loan origination as a service to community financial institutions As of both June 30, 2025 and December 31, 2024, Lender Solutions active
Slide 13: Consumer Finance Segment
Consumer Finance Segment Second Quarter 2025 Investor Presentation • Unique indirect automobile financing franchise with a regional presence • Delinquency and loss rates have generally stabilized under pre-pandemic levels • Established in 2002 with the acquisition of an indirect, non-prime auto fina
Slide 14: Consumer Finance Segment
Consumer Finance Segment Second Quarter 2025 Investor Presentation The consumer finance segment made a strategic decision over the past few years to focus on higher credit quality customers. * Refer to the Allowance for Credit Losses footnote in the Corporation’s Annual Report on Form 10-K for a mor
Slide 15: Balance Sheet – Corporation
$1.35 $1.59 $1.70 $1.88 $1.95 2021 2022 2023 2024 Jun-25 $2.26 $2.33 $2.44 $2.56 $2.69 2021 2022 2023 2024 Jun-25 $1.91 $2.00 $2.07 $2.17 $2.26 2021 2022 2023 2024 Jun-25 Balance Sheet – Corporation Second Quarter 2025 Investor Presentation Total Deposits ($bil) Total Assets ($bil) 5.0% CAGR 4.8% CA
Slide 16: Net Interest Margin (NIM) - Corporation
Net Interest Margin (NIM) - Corporation Second Quarter 2025 Investor Presentation 4.67 4.63 5.47 5.92 5.95 6.00 0.44 0.38 1.23 1.92 1.90 1.85 4.26 4.27 4.31 4.12 4.16 4.27 2021 2022 2023 2024 Mar-25 QTD Jun-25 QTD Yield on EarningAssets Cost of Funds NIM Yield, Cost, and NIM (%) 16
Slide 17: Noninterest Income
Noninterest Income Second Quarter 2025 Investor Presentation $15.2 $19.3 $16.5 $17.7 $8.3 $8.6 $31.6 $12.8 $10.2 $11.0 $5.6 $7.4 $49.2 $28.5 $29.6 $30.5 $14.8 $17.4 2021 2022 2023 2024 Jun-24 YTD Jun-25 YTD Community Banking Mortgage Banking Consumer Finance Other & Eliminations C&F Financial Corpor
Slide 18: Earnings – Corporation
Earnings – Corporation Second Quarter 2025 Investor Presentation Return on Average Equity (ROAE) (%) Earnings per Share (EPS) ($) Return on Average Assets (ROAA) (%) Return on Average Tangible Common Equity (ROATCE) * (%) * Non-GAAP financial measure. For non-GAAP financial measures, see reconciliat
Slide 19: Capital – Bank
Capital – Bank Second Quarter 2025 Investor Presentation As of June 30, 2025, the most recent notification from the FDIC categorized C&F Bank as well capitalized under the regulatory framework for prompt corrective action. The following show capital ratios excluding and including unrealized losses o
Slide 20: Capital – Corporation
Capital – Corporation Second Quarter 2025 Investor Presentation 9.8% 10.0% 9.2% 4.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 2024 Jun-25 Jun-25 w/ AOCI Impact Tier 1 Leverage Ratio 7.89% 8.05% 8.05% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 2024 Jun-25 Jun-25 w/ AOCI Impact TCE Ratio 10.7% 10.8% 9.9% 4.5% 0
Slide 21: Funding Sources – Corporation
Funding Sources – Corporation Second Quarter 2025 Investor Presentation * The Corporation may rely on brokered deposits on a limited basis as a means of maintaining and diversifying liquidity and funding sources. Internal policy limits brokered deposits to 20 percent of total deposits. June 30, 2025
Slide 22: Assets – Corporation
Assets – Corporation Second Quarter 2025 Investor Presentation Cash and Cash Equivalents 3% Securities 16% Loans, HFS 2% Loans, HFI 73% Non-Earning Assets 6% 4.67 4.63 5.47 5.92 5.95 6.00 2021 2022 2023 2024 Mar-25 QTD Jun-25 QTD Yield on Earning Assets (%) $268 $373 $1,024 $368 $80 $435 $1,530 $461
Slide 23: Loans, HFI – Corporation
$267 $775 $368 $319 $843 $475 $355 $918 $469 $381 $1,072 $467 $392 $1,138 $461 Consumer Commercial Consumer Finance 2021 2022 2023 2024 Jun-25 Loans, HFI – Corporation Second Quarter 2025 Investor Presentation Yield (%) 5.86 5.85 6.49 6.75 6.73 6.74 2021 2022 2023 2024 Mar-25 QTD Jun-25 QTD Growth b
Slide 24: Asset Quality
Asset Quality Second Quarter 2025 Investor Presentation 0.23 0.01 0.03 0.02 0.08 0.07 0.10 0.19 0.19 0.13 0.21 0.15 2021 2022 2023 2024 Mar-25 Jun-25 Bank Finance 0.04 0.01 0.01 0.02 0.01 0.01 0.01 0.01 3.05 1.54 -0.14 0.59 1.99 2.62 2.64 2.42 2019 2020 2021 2022 2023 2024 Mar-25* Jun-25* Bank Finan
Slide 25: Securities – Corporation
Securities – Corporation Second Quarter 2025 Investor Presentation U.S. Treasury securities 1% U.S. Government Agencies and corporations 14% Mortgage-backed securities 46% Obligations of states and political subdivision 34% Corporate and other debt securities 5% The weighted average life and the tot
Slide 26: Funding – Corporation
Funding – Corporation Second Quarter 2025 Investor Presentation Total Deposits 84% Borrowings 4% TruPS 1% Equity 9% Other 2% Composition (% of Total Assets) (June-25) 0.44 0.38 1.23 1.92 1.90 1.85 2021 2022 2023 2024 Mar-25 QTD Jun-25 QTD Cost of Funds (%) 26
Slide 27: Deposits
Deposits Second Quarter 2025 Investor Presentation 0.17 0.23 0.60 0.82 0.89 0.96 0.90 0.76 2.79 4.10 3.93 3.65 0.30 0.26 1.02 1.80 1.81 1.72 2021 2022 2023 2024 Mar-25 QTD Jun-25 QTD Savings and interest bearing Time Total Deposits $582 $907 $426 $605 $1,017 $381 $549 $844 $673 $526 $826 $818 $556 $
Slide 28: Deposit Trends
Deposit Trends Second Quarter 2025 Investor Presentation 1.40% 1.67% 1.79% 1.90% 1.85% 1.81% 1.72% 0.0% 4.6% 8.9% 18.4% Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Total Deposits Cost of Deposits Cumulative Deposit Beta 1.93% 2.25% 2.40% 2.54% 2.48% 2.41% 2.30% 0.0% 5.8% 12.8% 23.9% Dec-23 Mar-
Slide 29: Granular Deposit Base
Granular Deposit Base Second Quarter 2025 Investor Presentation 70% 6% 24% Insured Uninsured, secured Public Funds All other uninsured Consumer Deposits • ~71,300 accounts • $19,000 average balance Commercial Deposits • ~14,300 accounts • $60,000 average balance 29 Total Deposits $2.26 Billion As of
Slide 30: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non-GAAP Disclosures Second Quarter 2025 Investor Presentation 30 ($ thousands) 2022 2023 2024 Jun-24 Jun-25 Return on Average Tangible Common Equity Average total equity, as reported $ 197,876 $ 203,261 $ 220,856 $ 216,675 $ 234,328 Average goodwill (25,191) (25,191) (25,191) (25,
Slide 31: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non-GAAP Disclosures Second Quarter 2025 Investor Presentation 31 ($ thousands) 2022 2023 2024 Jun-25 Tangible Common Equity (TCE) / Tangible Assets (TA) Total equity, as reported $ 196,233 $ 217,516 $ 226,970 $ 240,916 Goodwill (25,191) (25,191) (25,191) (25,191) Other intangible