C & F FINANCIAL CORP CFFI
C&F Financial Corporation (the Corporation) is a bank holding company that was incorporated in March 1994 under the laws of the Commonwealth of Virginia. The Corporation owns all of the stock of Citizens and Farmers Bank (the Bank or C&F Bank), which is an independent commercial bank chartered under the laws of the Commonwealth of Virginia. C&F Bank originally opened for business under the name Farmers and Mechanics Bank on January 22, 1927. C&F Bank has the following five wholly-owned subsidiaries, all incorporated under the laws of the Commonwealth of Virginia:
● C&F Insurance Services, Inc.
● CVB Title Services, Inc.
The Corporation operates three principal business segments: (1) community banking through C&F Bank, C&F Wealth Management Corporation (C&F Wealth Management), C&F Insurance Services, Inc. (C&F Insurance) and CVB Title Services, Inc. (CVB Title), (2) mortgage banking through C&F Mortgage Corporation (C&F Mortgage) and (3) consumer finance through C&F Finance Company (C&F Finance). For detailed information about the financial condition and results of operations of these segments, see "Note 20: Business Segments" in Item 8. "Financial Statements and Supplementary Data" in this report.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $140.8M | $127.3M | $127.3M | $122.7M | $135.2M | $138.1M | $111.9M | $118.9M | $116.8M | $115.5M |
| Interest expense | $106.2M | $96.8M | $97.7M | $93.5M | $8.4M | $13.4M | $14.6M | $11.0M | $9.6M | $9.0M |
| Pre-tax income | $33.1M | $24.1M | $29.2M | $37.0M | $38.1M | $29.2M | $23.9M | $22.5M | $18.0M | $17.9M |
| Income tax | $6.1M | $4.2M | $5.4M | $7.6M | $9.0M | $6.8M | $5.1M | $4.5M | $11.4M | $4.5M |
| Net income | $26.8M | $19.8M | $23.6M | $29.2M | $28.7M | $22.1M | $18.9M | $18.0M | $6.6M | $13.5M |
| EPS, basic | 8.29 | 6.01 | 6.92 | 8.29 | 7.95 | 6.06 | 5.47 | 5.15 | 1.89 | 3.90 |
| EPS, diluted | 8.29 | 6.01 | 6.92 | 8.29 | 7.95 | 6.06 | 5.47 | 5.15 | 1.88 | 3.89 |
| Shares, diluted (wtd. avg.) | $3.2M | $3.3M | $3.4M | $3.5M | $3.6M | $3.6M | $3.5M | $3.5M | $3.5M | $3.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $79.1M | $65.6M | $75.2M | $26.7M | $267.7M | $86.7M | $165.4M | $115.0M | $14.1M | $12.9M |
| Property, plant and equipment | $39.2M | $40.1M | $41.9M | $43.8M | $44.8M | $44.1M | $35.3M | $37.1M | $37.0M | $35.8M |
| Goodwill | $25.2M | $25.2M | $25.2M | $25.2M | $25.2M | $25.2M | $14.4M | $14.4M | $14.4M | $14.4M |
| Other intangibles | $909.0K | $1.1M | $1.4M | $1.7M | $2.0M | $2.3M | $912.0K | $1.1M | $1.6M | $2.3M |
| Total assets | $2.77B | $2.56B | $2.44B | $2.33B | $2.26B | $2.09B | $1.66B | $1.52B | $1.51B | $1.45B |
| Short-term debt | $20.0M | $29.0M | $58.2M | $36.6M | $34.7M | $20.5M | $16.4M | $14.9M | $20.6M | $12.4M |
| Total liabilities | $2.51B | $2.34B | $2.22B | $2.14B | $2.05B | $1.89B | $1.49B | $1.37B | $1.37B | $1.31B |
| Retained earnings | $268.7M | $247.8M | $233.8M | $217.2M | $193.8M | $170.8M | $154.2M | $140.5M | $127.4M | $125.2M |
| Total equity | $261.8M | $226.4M | $217.5M | $196.2M | $211.0M | $194.5M | $165.3M | $152.0M | $141.7M | $139.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $24.5M | $36.8M | $38.8M | $90.6M | $157.4M | -$80.4M | -$14.6M | $47.6M | $25.8M | $27.0M |
| Depreciation and amortisation | $3.2M | $3.1M | $3.3M | $3.7M | $4.1M | — | — | $3.2M | $2.8M | $2.7M |
| Stock-based compensation | $1.8M | $1.9M | $2.0M | $2.0M | $1.7M | $1.4M | $1.5M | $1.3M | $1.5M | $1.2M |
| Capital expenditure | $2.3M | $3.5M | $1.5M | $3.4M | $4.8M | $10.2M | $2.7M | $3.4M | $4.2M | $2.7M |
| Investing cash flow | -$169.4M | -$146.9M | -$56.3M | -$411.3M | -$138.7M | -$183.3M | -$35.9M | -$47.5M | -$59.9M | -$106.3M |
| Financing cash flow | $158.4M | $100.6M | $66.0M | $79.6M | $162.4M | $184.9M | $101.0M | -$4.4M | $50.4M | $29.6M |
| Dividends paid | $6.0M | $5.8M | $6.0M | $5.8M | $5.7M | $5.5M | $5.1M | $4.9M | $4.6M | $4.5M |
| Buybacks | $943.0K | $8.8M | $7.8M | $5.4M | $8.2M | $1.1M | $4.9M | $1.5M | $560.0K | $414.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000913341-26-000010.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |