CF Bankshares Inc. reported a significant increase in financial performance for the second quarter of 2025, with net income reaching $5.0 million, or $0.77 per diluted share, compared to $1.7 million, or $0.26 per diluted share, in the same period last year. This growth was primarily driven by a 23.2% increase in net interest income, which totaled $14.0 million, up from $11.4 million in the prior year. The company also saw a decrease in provision for credit losses, which fell to $1.4 million from $3.6 million, contributing to the overall improvement in profitability.
Total assets for CF Bankshares increased to $2.13 billion as of June 30, 2025, reflecting a 3.3% rise from $2.07 billion at the end of 2024. This growth was largely attributed to a $40.4 million increase in cash and cash equivalents and a $32.8 million rise in net loans and leases, which reached $1.75 billion. The allowance for credit losses on loans also increased to $19.1 million, representing 1.08% of total loans, up from 1.00% at the end of the previous year.
In terms of operational developments, CF Bankshares reported a 3.1% increase in total deposits, which amounted to $1.81 billion, driven by a $31.4 million rise in interest-bearing accounts and a $22.7 million increase in noninterest-bearing accounts. The company also noted a significant increase in its FHLB advances and other debt, which rose to $100.9 million, up 8.9% from the previous period. Additionally, the bank's nonperforming loans increased to $16.6 million, or 0.94% of total loans, compared to $15.0 million, or 0.87%, at the end of 2024.
Looking ahead, CF Bankshares remains focused on maintaining its capital levels and managing credit risk effectively. The company has sufficient liquidity to meet its operational needs and plans to continue leveraging its capital to support growth. Management expressed confidence in the adequacy of the allowance for credit losses, although they acknowledged that future economic conditions could necessitate adjustments. The bank's strategic focus on individualized customer service and competitive interest rates is expected to further enhance its market position in the coming quarters.
About CF BANKSHARES INC.
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