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Equity, Other Comprehensive Income (Loss) and Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Equity, Other Comprehensive Income (Loss) and Earnings Per Share

Schedule of the components of accumulated other comprehensive loss, net of deferred taxes

Securities

Securities

Defined

Cash

Available

Benefit

Flow

(Dollars in thousands)

For Sale

Plan

Hedges

Total

Accumulated other comprehensive income (loss) at December 31, 2021

$

437

$

(2,055)

$

(469)

$

(2,087)

Net (loss) income arising during the period

(31,355)

—

1,813

(29,542)

Related income tax effects

6,585

—

(466)

6,119

(24,770)

—

1,347

(23,423)

Reclassifications into net income

—

(15)

(4)

(19)

Related income tax effects

—

3

1

4

—

(12)

(3)

(15)

Other comprehensive (loss) income, net of tax

(24,770)

(12)

1,344

(23,438)

Accumulated other comprehensive (loss) income at June 30, 2022

$

(24,333)

$

(2,067)

$

875

$

(25,525)


		Securities			Defined			Cash
		Available			Benefit			Flow
(Dollars in thousands)		For Sale			Plan			Hedges			Total
Accumulated other comprehensive income (loss) at December 31, 2020		$	4,397		$	(4,985)		$	(1,367)		$	(1,955)

Net (loss) income arising during the period			(1,982)			—			755			(1,227)
Related income tax effects			416			—			(194)			222
			(1,566)			—			561			(1,005)

Reclassifications into net income			(38)			87			(4)			45
Related income tax effects			8			(18)			1			(9)
			(30)			69			(3)			36

Other comprehensive (loss) income, net of tax			(1,596)			69			558			(969)

Accumulated other comprehensive income (loss) at June 30, 2021		$	2,801		$	(4,916)		$	(809)		$	(2,924)

Schedule of reclassifications from accumulated other comprehensive loss


		Three Months Ended June 30,							Six Months Ended June 30,						Line Item In the
(Dollars in thousands)		2022			2021				2022			2021			Consolidated Statements of Income
Securities available for sale:
Reclassification of net realized gains into net income		$	—		$	6			$	—		$	38		Net gains on sales, maturities and calls of available for sale securities
Related income tax effects			—			(1)				—			(8)		Income tax expense
			—			5				—			30		Net of tax

Defined benefit plan:¹
Reclassification of recognized net actuarial losses into net income			(10)			(61)				(19)			(121)		Noninterest expenses - Other
Amortization of prior service credit into net income			17			17				34			34		Noninterest expenses - Other
Related income tax effects			(2)			9				(3)			18		Income tax expense
			5			(35)				12			(69)		Net of tax

Cash flow hedges:
Amortization of hedging gains into net income			2			2				4			4		Interest expense - Trust preferred capital notes
Related income tax effects			—			—				(1)			(1)		Income tax expense
			2			2				3			3		Net of tax

Total reclassifications into net income		$	7		$	(28)			$	15		$	(36)

1	See “Note 7: Employee Benefit Plans,” for additional information.

Schedule of components earnings per share calculations


		Six Months Ended June 30,
(Dollars in thousands)		2022			2021
Net income attributable to C&F Financial Corporation		$	12,371		$	15,069
Weighted average shares outstanding—basic and diluted			3,541,098			3,664,752