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Equity, Other Comprehensive Income and Earnings Per Share | 3 Months Ended
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Mar. 31, 2021
Equity, Other Comprehensive Income and Earnings Per Share |
Equity, Other Comprehensive Income and Earnings Per Share | NOTE 7: Equity, Other Comprehensive Income and Earnings Per Share ​ Equity and Noncontrolling Interest ​ The Corporation’s Board of Directors authorized a program, effective November 17, 2020 to repurchase up to 365,000 shares of the Corporation’s common stock through November 30, 2021 (the Repurchase Program). As of March 31, 2021, the Corporation has made aggregate common stock repurchases of 7,459 shares for an aggregate cost of $275,000 under the Repurchase Program. There were no share repurchases under the Repurchase Program during the three months ended March 31, 2021. ​ The Corporation’s previous share repurchase program, which was authorized by the Board of Directors in May 2019, expired on May 31, 2020. During the three months ended March 31, 2020, the Corporation repurchased 8,963 shares of its common stock for an aggregate cost of $355,000, under its previous share repurchase program. ​ Additionally during the three months ended March 31, 2021 and 2020, the Corporation withheld 5,633 shares and 5,069 shares of its common stock, respectively, from employees to satisfy tax withholding obligations upon vesting of restricted stock. ​ Noncontrolling interest represents an ownership interest in C&F Select LLC, a subsidiary of C&F Mortgage, held by an unrelated investor. In exchange for issuing this noncontrolling interest in C&F Select LLC, C&F Bank received a note receivable from the investor for $490,000, which is included in loans in the Consolidated Balance Sheets and is secured by cash deposits at C&F Bank. ​ Accumulated Other Comprehensive Loss, Net ​ The following table presents the cumulative balances of the components of accumulated other comprehensive loss, net of deferred taxes of $997,000 and $630,000 as of March 31, 2021 and December 31, 2020, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
(Dollars in thousands) |  | 2021 |  | 2020
Net unrealized gains on securities | ​ | $ | 2,024 | ​ | $ | 4,397
Net unrecognized losses on cash flow hedges | ​ |  | (633) | ​ |  | (1,367)
Net unrecognized losses on defined benefit plan | ​ |  | (4,951) | ​ |  | (4,985)
Total accumulated other comprehensive loss, net | ​ | $ | (3,560) | ​ | $ | (1,955)
​ Earnings Per Share (EPS) ​ The components of the Corporation’s EPS calculations are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, |
(Dollars in thousands) |  | 2021 |  | 2020 |
Net income attributable to C&F Financial Corporation | ​ | $ | 7,061 | ​ | $ | 3,578 | ​
Weighted average shares outstanding—basic and diluted | ​ |  | 3,676,067 | ​ |  | 3,644,614 | ​
​ ​ The Corporation has applied the two-class method of computing basic and diluted EPS for each period presented because the Corporation’s unvested restricted shares outstanding contain rights to nonforfeitable dividends equal to dividends on the Corporation’s common stock. Accordingly, the weighted average number of shares used in the calculation of basic and diluted EPS includes both vested and unvested shares outstanding.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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