C&F Financial Corporation reported a consolidated net income of $6.8 million for the first quarter of 2026, reflecting an increase of 26% compared to $5.4 million in the same period of 2025. This growth was primarily driven by higher net interest income, which rose to $27.7 million from $25.0 million year-over-year. The increase in net interest income was attributed to a larger volume of interest-earning assets and an improved net interest margin, which increased to 4.27% from 4.16%. Earnings per share for the quarter were $2.08, up from $1.66 in the prior year.
The company experienced significant changes in its loan portfolio, with total loans held for investment increasing to $2.04 billion, a rise of $20.5 million from the previous quarter. The community banking segment saw a notable growth of $24.1 million in loans, while the consumer finance segment reported a slight decline of $3.6 million. Deposits also increased by $53.7 million to $2.40 billion, driven by growth in time deposits and noninterest-bearing demand deposits. The total assets of C&F Financial Corporation reached $2.81 billion, up from $2.77 billion at the end of 2025.
In terms of operational developments, the mortgage banking segment reported a substantial increase in loan originations, which rose by 57.9% to $179.6 million compared to the first quarter of 2025. This increase was attributed to favorable conditions in the mortgage interest rate environment. Additionally, the company executed a strategic restructuring of its securities available for sale portfolio, which is expected to impact its financial results in the upcoming quarter.
The filing also highlighted the company's ongoing commitment to managing its capital effectively. Total equity increased to $266.1 million as of March 31, 2026, compared to $262.3 million at the end of 2025. The corporation's tier 1 risk-based capital ratio stood at 12.1%, while the total risk-based capital ratio was 15.1%, both exceeding regulatory requirements. The board of directors declared a quarterly cash dividend of $0.48 per share, reflecting a payout ratio of 23.1% of earnings per share for the first quarter.
Looking ahead, C&F Financial Corporation remains focused on maximizing earnings and deploying capital in profitable growth initiatives. The company is closely monitoring market conditions, including interest rate fluctuations, which could impact its net interest margin and overall financial performance. The management's outlook suggests a cautious optimism, with expectations for continued growth in its community banking and mortgage banking segments, while also addressing challenges in the consumer finance sector.
About C & F FINANCIAL CORP
C&F Financial Corporation is a Virginia-based bank holding company owning Citizens and Farmers Bank and subsidiaries specializing in community banking, mortgage banking, and consumer finance. It offers deposit accounts, commercial and real estate loans, mortgage origination services, and indirect automobile, marine, and RV financing primarily in the Mid-Atlantic and surrounding U.S. regions. The company emphasizes customer service, risk management, and regulatory compliance across its diversified financial services.
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