<SEC-DOCUMENT>0001558370-22-007753.txt : 20220509
<SEC-HEADER>0001558370-22-007753.hdr.sgml : 20220509
<ACCEPTANCE-DATETIME>20220509124453
ACCESSION NUMBER:		0001558370-22-007753
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20220509
DATE AS OF CHANGE:		20220509
EFFECTIVENESS DATE:		20220509

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			C & F FINANCIAL CORP
		CENTRAL INDEX KEY:			0000913341
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				541680165
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-264788
		FILM NUMBER:		22904118

	BUSINESS ADDRESS:	
		STREET 1:		EIGHTH & MAIN STREETS
		STREET 2:		P O BOX 391
		CITY:			WEST POINT
		STATE:			VA
		ZIP:			23181
		BUSINESS PHONE:		8048432360

	MAIL ADDRESS:	
		STREET 1:		P O BOX 391
		CITY:			WEST POINT
		STATE:			VA
		ZIP:			23181
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>cffi-20220509xs8.htm
<DESCRIPTION>S-8
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.14.0.96--><!--Created on: 5/9/2022 04:32:47 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title>S-8 - 1999 Stock Option Plan - PAB/General</title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-size:12pt;"><a name="_Hlk99540704"></a></font><b style="font-weight:bold;">As filed with the Securities and Exchange Commission on May 9, 2022</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;padding-bottom:1pt;text-align:right;border-bottom:2.25pt double #000000;margin:6pt 0pt 0pt 0pt;"><b style="font-weight:bold;">Registration No. 333-______</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">UNITED STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Washington, D.C. 20549</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">FORM S-8</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:102.3%;"><tr style="height:1pt;"><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:9pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:9pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr><tr><td colspan="2" style="vertical-align:top;width:100%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">C&amp;F FINANCIAL CORPORATION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">(Exact name of registrant as specified in its charter)</p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Virginia</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">(State or other jurisdiction of</p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">incorporation or organization)</p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">54-1680165</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">(I.R.S. Employer</p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Identification No.)</p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'inherit';font-weight:bold;">3600 La Grange Parkway</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Toano, Virginia</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt;"><font style="white-space:pre-wrap;">                    (Address of principal executive offices)</font></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Courier New';font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">23168</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">(Zip Code)</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">C&amp;F FINANCIAL CORPORATION </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2022 STOCK AND INCENTIVE COMPENSATION PLAN</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;"> (Full title of the plan)</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:9pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Thomas F. Cherry</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">President and Chief Executive Officer</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'inherit';font-weight:bold;">3600 La Grange Parkway</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Toano, Virginia 23168</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">(Name and address of agent for service)</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:9pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(804) 843-2360</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">(Telephone number, including area code, of agent for service)</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:9pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;"><i style="font-style:italic;">Copies to</i>:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:9pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Susan S. Ancarrow, Esq. </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Troutman Pepper Hamilton Sanders LLP </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Troutman Pepper Building </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">1001 Haxall Point </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Richmond, Virginia 23219 </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(804) 697-1861 </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:9pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27pt;margin:0pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.<font style="font-size:12pt;"><a name="Tc_pJIeeQqdfUeaYGmz6QeT1A_1_0"></a><a name="Tc_wGf75vH4x0Kr_QeT3ZIxsg_1_1"></a><a name="Tc_StkfWubiPE6sQjHU1Rz9_A_1_3"></a><a name="Tc_h3ahlT2_bkeNUdYrevoDQA_2_0"></a><a name="Tc_FxotJ2V52UC29OAAhC7XuA_2_1"></a><a name="Tc_kVrqG3Knlk64SZbr_qHyyw_2_2"></a><a name="Tc_Mr-YWNLmY0-3KB_Ez8TU_g_3_2"></a></font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;padding:0.75pt 0pt 0.75pt 0pt;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:20.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:20.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:29.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:29.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style="height:1pt;"><td style="vertical-align:bottom;width:20.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:20.33%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:29.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:29.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:bottom;width:20.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Large accelerated filer</p></td><td style="vertical-align:bottom;width:20.33%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Segoe UI Symbol';">&#9744;</font></p></td><td style="vertical-align:bottom;width:29.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Accelerated Filer</p></td><td style="vertical-align:bottom;width:29.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Segoe UI Symbol';">&#9746;</font></p></td></tr><tr><td style="vertical-align:bottom;width:20.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Non-accelerated filer</p></td><td style="vertical-align:bottom;width:20.33%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Segoe UI Symbol';">&#9744;</font>&#160;</p></td><td style="vertical-align:bottom;width:29.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Smaller reporting company</p></td><td style="vertical-align:bottom;width:29.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Segoe UI Symbol';">&#9746;</font></p></td></tr><tr><td style="vertical-align:bottom;width:20.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:20.33%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:29.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Emerging growth company</p></td><td style="vertical-align:bottom;width:29.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Segoe UI Symbol';">&#9744;</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-indent:27pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27pt;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.<font style="display:inline-block;width:35.99pt;"></font><font style="font-family:'Segoe UI Symbol';">&#9744;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;padding:0.75pt;"><tr style="height:1pt;"><td style="vertical-align:middle;width:0.96%;margin:0pt;padding:1pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">&#160;</p></div></div></td><td style="vertical-align:middle;width:98.54%;margin:0pt;padding:1pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.49%;margin:0pt;padding:1pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr><td style="vertical-align:middle;width:0.96%;margin:0pt;padding:1pt;"></td><td style="vertical-align:middle;width:98.54%;margin:0pt;padding:1pt;"></td><td style="vertical-align:middle;width:0.49%;margin:0pt;padding:1pt;"></td></tr><tr><td colspan="3" style="vertical-align:top;width:100%;border-bottom:2.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:2pt 1.25pt 2.5pt 4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:1pt;margin:0pt;">&#160;</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><hr color="#848484" size="1.5" style="height:1.5pt;position:relative;top:0.6em;width:100%;margin:0 auto;" align="center"></div><p style="display:none;font-size:12pt;line-height:0pt;padding-left:36pt;text-align:center;text-indent:-36pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:10pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:9.41%;padding-right:7.06%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:36pt;text-align:center;text-indent:-36pt;margin:4pt 0pt 0pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:36pt;text-align:center;text-indent:-36pt;margin:4pt 0pt 0pt 0pt;"><b style="font-weight:bold;">Part I &#8212; Information Required in the Section 10(a) Prospectus</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">Item 1.</font></font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Plan Information</u>.*</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">Item 2.</font></font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Registrant Information and Employee Plan Annual Information</u>.*</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;">*</p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;">The information specified in Items 1 and 2 of Part I of Form S-8 is omitted from this filing in accordance with the provisions of Rule 428 under the Securities Act and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I will be delivered to the participants in the Plan covered by this registration statement as required by Rule 428(b)(1).</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Part II &#8212; Information Required in the Registration Statement</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-indent:0pt;width:45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">Item 3.</font></font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Incorporation of Documents by Reference</u>.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:45pt;"></font>C&amp;F Financial Corporation (the Company or the Registrant) hereby incorporates by reference into this registration statement the following documents: </p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">(a)</td><td style="padding:0pt;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;font-size:12pt;" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000913341/000091334122000012/cffi-20211231x10k.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">The Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the Securities and Exchange Commission (the Commission) on March 1, 2022;</font></a></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">(b)</td><td style="padding:0pt;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;font-size:12pt;" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000913341/000091334122000028/cffi-20220331x10q.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">The Company&#8217;s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2022, as filed with the Commission on May 6, 2022;</font></a></td></tr></table><div style="margin-top:6pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:72pt;text-align:justify;text-indent:-72pt;margin:0pt 0pt 6pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>(c)<font style="display:inline-block;width:22.68pt;"></font>The Company&#8217;s Current Reports on Form 8-K, as filed with the Commission on <a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000913341/000091334122000008/cffi-20220215x8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">February 16, 2022</font></a> and <a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000913341/000091334122000023/cffi-20220419x8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">April 21, 2022</font></a> (in each case other than portions of those documents deemed to be furnished and not filed); &#160;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:72pt;text-align:justify;text-indent:-72pt;margin:0pt 13.5pt 6pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>(d)<font style="display:inline-block;width:22.01pt;"></font>The description of the Company&#8217;s common stock contained in <a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/Archives/edgar/data/913341/000155837020001967/cffi-20191231ex413eb8eb7.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Exhibit 4.1</font></a> to the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the Commission on March 1, 2022, which updates the description of the Company&#8217;s common stock contained in the &#8220;Description of Capital Stock&#8221; in the Company&#8217;s Proxy Statement/Prospectus filed as part of the Registration Statement on Form S-4 (No. 33-70184) with the Commission on October 12, 1993, as amended on October 19, 1993 (Pre-Effective Amendment No. 1), as amended by any subsequent amendment or report filed for the purpose of updating such description; and</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:72pt;text-align:justify;text-indent:-72pt;margin:0pt 13.5pt 6pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>(e)<font style="display:inline-block;width:22.68pt;"></font>All other reports filed with the Commission pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the Exchange Act) by the Company since the end of the fiscal year covered in its Annual Report referred to in (a) above (in each case other than portions of those documents deemed to be furnished and not filed).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>All documents filed by the Company subsequent to the date of this registration statement pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, and prior to the filing of a post-effective amendment hereto which indicates that all securities offered hereby have been sold or which deregisters all such securities then remaining unsold, shall also be deemed to be incorporated by reference into this registration statement and to be a part hereof from their respective dates of filing. &#160;Any statement contained in this registration statement, or in a document incorporated or deemed incorporated herein, shall be deemed to be modified or superseded to the extent that a statement contained in a subsequently filed document which is, or is deemed to be, incorporated by reference herein modifies or supersedes such statement. &#160;Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.</p></div><div style="clear:both;margin-bottom:18pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:10pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:9.41%;margin-right:7.06%;margin-top:30pt;page-break-after:always;width:83.53%;border-width:0;"><div style="max-width:100%;padding-left:9.41%;padding-right:7.06%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-indent:0pt;width:36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">Item 4.</font></font><font style="display:inline-block;width:36pt;"></font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Description of Securities</u>.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-indent:0pt;width:36pt;"></font>Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-indent:0pt;width:36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">Item 5.</font></font><font style="display:inline-block;width:36pt;"></font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Interests of Named Experts and Counsel</u>.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Not applicable. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-indent:0pt;width:36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">Item 6.</font></font><font style="display:inline-block;width:36pt;"></font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Indemnification of Directors and Officers</u>.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt;">Article VII of the Company&#8217;s Amended and Restated Articles of Incorporation limits the liability of the Company&#8217;s directors and officers to the Company and its shareholders to the full extent permitted by the Virginia Stock Corporation Act as now and hereafter in effect. &#160;The Virginia Stock Corporation Act places a limit on the liability of a director or officer in derivative or shareholder proceedings equal to the lesser of (i) the amount specified in the corporation&#8217;s articles of incorporation or a shareholder-approved bylaw; or (ii) the greater of (a) $100,000 or (b) the amount of cash compensation received by the officer or director from the corporation during the 12 months immediately preceding the act or omission for which liability was imposed. &#160;The Company&#8217;s Amended and Restated Articles of Incorporation provide that the Company&#8217;s directors and officers will not be monetarily liable to the Company or the Company&#8217;s shareholders, if such limitation is permissible under the Virginia Stock Corporation Act. &#160;This limitation does not apply in the event the director or officer has engaged in willful misconduct or a knowing violation of a criminal law or a federal or state securities law. &#160;The effect of the Company&#8217;s Amended and Restated Articles of Incorporation, together with the Virginia Stock Corporation Act, is to eliminate liability of directors and officers for monetary damages in derivative or shareholder proceedings so long as the required standard of conduct is met. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-indent:24.5pt;margin:0pt;"><font style="margin-bottom:5pt;margin-top:5pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:24.5pt;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:11.5pt;"></font>Article VII of the Company&#8217;s Amended and Restated Articles of Incorporation also mandates indemnification of the Company&#8217;s directors and officers to the full extent permitted by the Virginia Stock Corporation Act. &#160;The Virginia Stock Corporation Act permits a corporation to indemnify its directors and officers against liability incurred in all proceedings, including derivative proceedings, arising out of their service to the corporation or to other corporations or enterprises that the officer or director was serving at the request of the corporation, except in the case of willful misconduct or a knowing violation of a criminal law. &#160;The Company is required to indemnify its directors and officers in all such proceedings if they have not violated this standard. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">&#160;</p><p style="color:#000033;font-family:'Courier New';font-size:10pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to the Company&#8217;s directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.</font></p><p style="color:#000033;font-family:'Courier New';font-size:10pt;text-align:justify;margin:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="color:#000033;font-family:'Courier New';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;">The Company has also purchased a directors&#8217; and officers&#8217; liability insurance policy. &#160;Within the coverage limit, the policy provides coverage (a) to the Company&#8217;s directors and officers where the Company either is not permitted by law or is unable, due to insolvency, to indemnify its directors and officers; and (b) to the Company where the Company does indemnify the directors and officers as permitted, and/or required by law.</font><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;"> </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">Item 7.</font></font><font style="display:inline-block;width:36pt;"></font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Exemption from Registration Claimed</u>.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>Not applicable.</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:9.41%;margin-right:7.06%;margin-top:30pt;page-break-after:always;width:83.53%;border-width:0;"><div style="max-width:100%;padding-left:9.41%;padding-right:7.06%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">Item 8.</font></font><font style="display:inline-block;width:36pt;"></font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Exhibits</u>.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;">The exhibits to this Registration Statement are listed below: </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Exhibit Description</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 36pt;">Exhibit </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 6pt 36pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Number</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 6pt 36pt;"><font style="margin-left:0pt;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/Archives/edgar/data/913341/000091334117000042/cffi-20170930ex315522136.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">4.1</font></a></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/Archives/edgar/data/913341/000091334117000042/cffi-20170930ex315522136.htm"><u style="color:#00006f;font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;text-decoration-color:#00006f;text-decoration-line:underline;text-decoration-style:solid;">Amended and Restated Articles of Incorporation of C&amp;F Financial Corporation, effective March 7, 1994 (incorporated by reference to Exhibit 3.1 to Form 10-Q filed November 8, 2017)</u></a></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/Archives/edgar/data/913341/000119312509005819/dex311.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">4.1.1</font></a></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/Archives/edgar/data/913341/000119312509005819/dex311.htm"><u style="color:#00006f;font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;text-decoration-color:#00006f;text-decoration-line:underline;text-decoration-style:solid;">Amendment to Articles of Incorporation of C&amp;F Financial Corporation (incorporated by reference to Exhibit 3.1.1 to Form 8-K filed January 14, 2009)</u></a></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/Archives/edgar/data/913341/000091334120000070/cffi-20201215ex317cf104a.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">4.2</font></a></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/Archives/edgar/data/913341/000091334120000070/cffi-20201215ex317cf104a.htm"><u style="color:#00006f;font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;text-decoration-color:#00006f;text-decoration-line:underline;text-decoration-style:solid;">Amended and Restated Bylaws of C&amp;F Financial Corporation, as adopted December 15, 2020 (incorporated by reference to Exhibit 3.1 to Form 8-K filed December 17, 2020)</u></a></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="cffi-20220509xex5d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">5.1</font></a></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="cffi-20220509xex5d1.htm"><u style="color:#00006f;font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;text-decoration-color:#00006f;text-decoration-line:underline;text-decoration-style:solid;">Opinion of Troutman Pepper Hamilton Sanders LLP, filed herewith</u></a></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="cffi-20220509xex5d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">23.1</font></a></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:6pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="cffi-20220509xex5d1.htm"><u style="color:#00006f;font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;text-decoration-color:#00006f;text-decoration-line:underline;text-decoration-style:solid;">Consent of Troutman Pepper Hamilton Sanders LLP (contained in Exhibit 5.1 hereto)</u></a></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="cffi-20220509xex23d2.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">23.2</font></a></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="cffi-20220509xex23d2.htm"><u style="color:#00006f;font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;text-decoration-color:#00006f;text-decoration-line:underline;text-decoration-style:solid;">Consent of Yount, Hyde &amp; Barbour, P.C., filed herewith</u></a></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><a href="#Powersofattorney"><font style="font-style:normal;font-weight:normal;">24.1</font></a></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><a href="#Powersofattorney"><u style="color:#00006f;font-style:normal;font-weight:normal;text-decoration-color:#00006f;text-decoration-line:underline;text-decoration-style:solid;">Powers of Attorney (included on the signature page of this registration statement)</u></a></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/Archives/edgar/data/913341/000091334122000023/cffi-20220419ex10167f10a.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">99.1</font></a></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="https://www.sec.gov/Archives/edgar/data/913341/000091334122000023/cffi-20220419ex10167f10a.htm"><u style="color:#00006f;font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;text-decoration-color:#00006f;text-decoration-line:underline;text-decoration-style:solid;">C&amp;F Financial Corporation 2022 Stock and Incentive Compensation Plan (incorporated by reference to Exhibit 10.1 to Form 8-K filed on April 21, 2022)</u></a> </p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="cffi-20220509xexfilingfees.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">107.1</font></a></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="cffi-20220509xexfilingfees.htm"><u style="color:#00006f;font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;text-decoration-color:#00006f;text-decoration-line:underline;text-decoration-style:solid;">Filing Fee Table</u></a></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">Item 9.</font></font><font style="display:inline-block;width:36pt;"></font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Undertakings</u>.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>(a)<font style="display:inline-block;width:22.68pt;"></font>The undersigned Registrant hereby undertakes:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 72pt;">(1) &#160;To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 72pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 108pt;">(i) &#160;To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933 (the Securities Act);</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 108pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 108pt;">(ii) &#160;To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. &#160;Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:9.41%;margin-right:7.06%;margin-top:30pt;page-break-after:always;width:83.53%;border-width:0;"><div style="max-width:100%;padding-left:9.41%;padding-right:7.06%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 108pt;">in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement; and</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 108pt;"><font style="margin-bottom:5pt;margin-left:0pt;margin-top:5pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 108pt;">(iii) &#160;To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 108pt;"><font style="margin-bottom:5pt;margin-left:0pt;margin-top:5pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 72pt;"><i style="font-style:italic;">Provided, however</i>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 72pt;">(2) &#160;That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 72pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 72pt;">(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;">(b)</p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&#8217;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;">(h)</p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:5pt 0pt 5pt 72pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:9.41%;margin-right:7.06%;margin-top:30pt;page-break-after:always;width:83.53%;border-width:0;"><div style="max-width:100%;padding-left:9.41%;padding-right:7.06%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">SIGNATURES</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the town of Toano, Commonwealth of Virginia, on May 9, 2022. &#160;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:93.66%;"><tr style="height:1pt;"><td style="vertical-align:top;width:46.24%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:top;width:53.75%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">/s/ Thomas F. Cherry</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:21.6pt;text-indent:-21.6pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr><tr><td style="vertical-align:top;width:46.24%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:53.75%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">C&amp;F Financial Corporation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;">(Registrant)</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;">By: &#160;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">/s/ Thomas F. Cherry</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:21.6pt;text-indent:-21.6pt;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:21.6pt;"></font>Thomas F. Cherry </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 20.5pt;">President and Chief Executive Officer </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:9.41%;margin-right:7.06%;margin-top:30pt;page-break-after:always;width:83.53%;border-width:0;"><div style="max-width:100%;padding-left:9.41%;padding-right:7.06%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><a name="Powersofattorney"></a>POWERS OF ATTORNEY</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">AND</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">SIGNATURES</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Thomas F. Cherry and Jason E. Long, and each of them, with full power to act without the other, such person&#8217;s true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name and on his behalf as a director and/or officer of C&amp;F Financial Corporation to prepare, execute and deliver any and all amendments, including post-effective amendments, and supplements to this registration statement on Form S-8, including any amendment to this registration statement for the purpose of registering additional shares in accordance with General Instruction E to Form S-8, and to file the same, with exhibits and schedules thereto, and other documents in connection therewith (including any necessary amendments thereof), with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act necessary or desirable to be done in connection with the above-described matters, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his substitute or substitutes may lawfully do or cause to be done by virtue hereof.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-left:252pt;text-indent:-252pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated below on this 9<sup style="font-size:9pt;vertical-align:top;">th</sup> day of May, 2022. &#160;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="padding-left:5.75pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:6pt;padding-right:6pt;table-layout:auto;width:91.59%;"><tr style="height:1pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Signature</b></p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Title</b></p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;"><font style="white-space:pre-wrap;">/s/ Thomas F. Cherry                      </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="white-space:pre-wrap;">            Thomas F. Cherry                      </font></p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">President and </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Chief Executive Officer </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">and Director</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">(Principal Executive Officer)</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ Jason E. Long</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">Jason E. Long</p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Executive Vice President, Chief</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Financial Officer and Secretary</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt 0pt 12pt 0pt;">(Principal Financial and Accounting Officer)</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ Julie R. Agnew</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 12pt 34.55pt;">Dr. Julie R. Agnew</p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt 0pt 12pt 0pt;">Director</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ J. P. Causey Jr.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 12pt 34.55pt;">J. P. Causey Jr.</p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt 0pt 12pt 0pt;">Director</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ Larry G. Dillon</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">Larry G. Dillon </p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Executive Chairman</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:9.41%;margin-right:7.06%;margin-top:30pt;page-break-after:always;width:83.53%;border-width:0;"><div style="max-width:100%;padding-left:9.41%;padding-right:7.06%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><div style="padding-left:5.75pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:6pt;padding-right:6pt;table-layout:auto;width:91.59%;"><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ Audrey D. Holmes</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">Audrey D. Holmes</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Director</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ James H. Hudson III</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">James H. Hudson III</p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Director</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ Elizabeth R. Kelley</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">Elizabeth R. Kelley<font style="font-family:'inherit';"> </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Director</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;"><a name="_Hlk99531964"></a>/s/ James T. Napier</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">James T. Napier</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Director</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ C. Elis Olsson</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">C. Elis Olsson</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Director</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ D. Anthony Peay</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">D. Anthony Peay</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Director</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ Paul C. Robinson</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">Paul C. Robinson</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Director</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ George R. Sisson III</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">George R. Sisson III</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Director</p></td></tr><tr style="height:64.4pt;"><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;border-bottom:1px solid #000000;margin:0pt 0pt 0pt 34.75pt;">/s/ Jeffery O. Smith</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;">Dr. Jeffery O. Smith</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 34.75pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt 6pt 0pt 6pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Director</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:9.41%;margin-right:7.06%;margin-top:30pt;page-break-after:avoid;width:83.53%;border-width:0;"></body></html>
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<DOCUMENT>
<TYPE>EX-5.1
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<FILENAME>cffi-20220509xex5d1.htm
<DESCRIPTION>EX-5.1
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<!--Enhanced HTML document created with Toppan Merrill Bridge  9.14.0.96--><!--Created on: 5/9/2022 04:32:50 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;min-height:36pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:right;margin:0pt 36pt 0pt 0pt;"><b style="font-weight:bold;">Exhibit 5.1</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:right;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:right;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:108.1pt;"><div style="height:108.1pt;left:82.18%;max-width:17.82%;position:absolute;top:1.35pt;width:120.15pt;z-index:251659264;"><div style="height:108pt;left:0pt;padding-bottom:0pt;position:relative;top:0.1pt;width:120pt;"><div style="height:108pt;left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:120pt;"><div style="height:calc(100% - 7.18pt);left:0pt;position:relative;text-indent:0pt;top:0pt;padding:3.59pt 7.19pt 3.59pt 7.19pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6.5pt;letter-spacing:0.2pt;line-height:1.31;text-align:right;width:100%;margin:0pt 2pt 0pt 0pt;">TROUTMAN PEPPER HAMILTON SANDERS LLP</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6.5pt;letter-spacing:0.2pt;line-height:1.31;text-align:right;width:100%;margin:0pt;">Attorneys at Law</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6.5pt;letter-spacing:0.2pt;line-height:1.31;text-align:right;width:100%;margin:0pt;">Troutman Pepper Building</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6.5pt;letter-spacing:0.2pt;line-height:1.31;text-align:right;width:100%;margin:0pt;">P.O. Box 1122 (23218-1122)</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6.5pt;letter-spacing:0.2pt;line-height:1.31;text-align:right;width:100%;margin:0pt;">1001 Haxall Point</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6.5pt;letter-spacing:0.2pt;line-height:1.31;text-align:right;width:100%;margin:0pt;"><font style="white-space:pre-wrap;">Richmond, Virginia  23219</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6.5pt;letter-spacing:0.2pt;line-height:1.31;text-align:right;width:100%;margin:0pt;">804.697.1200 telephone</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6.5pt;letter-spacing:0.2pt;line-height:1.31;text-align:right;width:100%;margin:0pt;">804.697.1339 facsimile</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6.5pt;letter-spacing:0.2pt;line-height:1.31;text-align:right;width:100%;margin:0pt;">troutman.com</p></div></div></div></div><div style="height:43.9pt;left:55.48%;max-width:44.52%;position:absolute;top:-7.7pt;width:106.95pt;z-index:-9223372036603117568;"><div style="height:43.9pt;left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:106.95pt;"><img src="cffi-20220509xex5d1002.jpg" alt="Logo&#10;&#10;Description automatically generated" style="height:43.9pt;width:106.95pt;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:center;margin:0pt -27pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;background:#ffff00;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:center;margin:75pt 0pt 0pt 0pt;">May 9, 2022</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;">The Board of Directors</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;">C&amp;F Financial Corporation</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;">3600 La Grange Parkway</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;">Toano, Virginia 23168</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;padding-left:72pt;text-align:center;text-indent:-72pt;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Registration Statement on Form S-8</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;background:#ffff00;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;">Members of the Board of Directors:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;">We have acted as counsel to C&amp;F Financial Corporation, a Virginia corporation (the &#8220;Company&#8221;), in connection with the filing by the Company of the above-referenced registration statement on Form&#160;S-8 (the &#8220;Registration Statement&#8221;) with the United States Securities and Exchange Commission (the &#8220;Commission&#8221;) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), whereby 200,000 shares (the &#8220;Shares&#8221;) of common stock, $1.00 par value per share (the &#8220;Common Stock&#8221;), of the Company are registered to be issued in accordance with the C&amp;F Financial Corporation 2022 Stock and Incentive Compensation Plan (the &#8220;Plan&#8221;). &#160;The Plan and the issuance of the Shares pursuant to the Plan were approved by the Board of Directors of the Company (the &#8220;Board&#8221;) on February 15, 2022, subject to shareholder approval, which was obtained on April 19, 2022. &#160;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="visibility:hidden;background:#ffff00;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;">This opinion is being furnished in accordance with the requirements of Item 601(b)(5)(i) of Regulation S-K.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;">We have examined originals or copies, certified or otherwise identified to our satisfaction, of such corporate records, agreements, and other instruments, certificates, orders, opinions, correspondence with public officials, certificates provided by the Company&#8217;s officers and representatives, and other documents as we have deemed necessary or advisable for the purposes of rendering the opinion set forth herein, including (i) the corporate and organizational documents of the Company, including the Amended and Restated Articles of Incorporation, as amended to date (the &#8220;Articles&#8221;), and the Amended and Restated Bylaws, as amended to date, (ii) the resolutions (the &#8220;Resolutions&#8221;) of the Board with respect to the offering and issuance of the Shares under the Plan and certain related matters, (iii) the Plan and (iv)&#160;the Registration Statement and exhibits thereto. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="visibility:hidden;background:#ffff00;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 9pt 0pt;">For purposes of the opinion expressed below, we have assumed (i)&#160;the authenticity of all documents submitted to us as originals, (ii)&#160;the conformity to the originals of all documents submitted as certified, photostatic or electronic copies and the authenticity of the originals thereof, (iii)&#160;the legal capacity of natural persons, (iv)&#160;the genuineness of all signatures, including electronic signatures, not witnessed by us, (v)&#160;the due authorization, execution and delivery of all </p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:10pt;margin:0pt;"><font style="font-size:10pt;line-height:1.19;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:right;margin:0pt -27pt 0pt 0pt;"><font style="display:inline-block;width:216pt;"></font><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;">The Board of Directors</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;">C&amp;F Financial Corporation</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;">May 9, 2022</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;">Page 2</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt 0pt 9pt 0pt;"><font style="margin-bottom:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt 0pt 9pt 0pt;">documents by all parties, other than the Company, and the validity, binding effect and enforceability thereof and (vi) the truth, accuracy and completeness of the information, representations and warranties contained in the records, documents, instruments and certificates we have reviewed.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Based on the foregoing, and in reliance thereon, and subject to the assumptions, comments, qualifications, limitations and exceptions set forth herein, we are of the opinion that the Shares have been duly authorized and, when and if issued in accordance with the Articles, the Plan, the Registration Statement and the Resolutions (assuming that, upon any issuance of the Shares, the total number of shares of Common Stock issued and outstanding will not exceed the total number of shares of Common Stock that the Company is then authorized to issue under the Articles), the Shares will be validly issued, fully paid and nonassessable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We are members of the bar of the Commonwealth of Virginia and are not purporting to be experts on, or generally familiar with, or qualified to express legal conclusions based upon, laws of any state or jurisdiction other than the federal laws of the United States of America and the Commonwealth of Virginia and we express no opinion as to the effect of the laws of any other jurisdiction or as to the securities or blue sky laws of any state (including, without limitation, Virginia), municipal law or the laws of any local agencies within any state (including, without limitation, Virginia). &#160;This opinion is limited to the matters stated herein, and no opinion is implied or may be inferred beyond the matters expressly stated herein. &#160;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Our opinion is as of the date hereof and we have no responsibility to update this opinion for events and circumstances occurring after the date hereof or as to facts relating to prior events that are subsequently brought to our attention and we disavow any undertaking to advise you of any changes in law.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We hereby consent to the filing of this opinion as an exhibit to the Registration Statement.&#160;&#160;In giving this consent, we do not hereby admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act, or the rules or regulations of the Commission promulgated thereunder.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font>Very truly yours,</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font>/s/ Troutman Pepper Hamilton Sanders LLP</p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:avoid;width:76.47%;border-width:0;"></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>cffi-20220509xex23d2.htm
<DESCRIPTION>EX-23.2
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.14.0.96--><!--Created on: 5/9/2022 04:32:52 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:right;margin:0pt;"><b style="font-weight:bold;">Exhibit 23.2</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:center;margin:0pt;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;">We consent to the incorporation by reference in this registration statement on Form S-8 of C&amp;F Financial Corporation of our reports dated March 1, 2022, relating to the consolidated financial statements and the effectiveness of internal control over financial reporting of C&amp;F Financial Corporation, appearing in the Annual Report on Form 10-K of C&amp;F Financial Corporation for the year ended December 31, 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt 18pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt 18pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;padding-left:288pt;text-indent:-288pt;margin:0pt;">/s/ Yount, Hyde &amp; Barbour, P.C.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;">Richmond, Virginia</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;">May 9, 2022</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:avoid;width:76.47%;border-width:0;"></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>4
<FILENAME>cffi-20220509xexfilingfees.htm
<DESCRIPTION>EX-FILING FEES
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.14.0.96--><!--Created on: 5/9/2022 04:32:55 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:9.41%;padding-right:7.06%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:right;margin:0pt;"><b style="font-weight:bold;">Exhibit 107.1</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:18pt 0pt 0pt 0pt;"><b style="font-weight:bold;">CALCULATION OF FILING FEE TABLES </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:center;margin:12pt 0pt 0pt 0pt;"><b style="font-weight:bold;">FORM S-8 </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">(Form Type) </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:center;margin:12pt 0pt 0pt 0pt;"><b style="font-weight:bold;">C&amp;F Financial Corporation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">(Exact Name of Registrant as Specified in its Charter) </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:12pt 0pt 0pt 0pt;"><b style="font-weight:bold;">Table 1: Newly Registered Securities </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;text-align:center;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;" align="center"><tr><td style="vertical-align:middle;width:17.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:10.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:12.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:12.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:10.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.47%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:17.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt -0.37pt 0pt 8.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">Security Type</b></p></td><td style="vertical-align:bottom;width:12.93%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">Security</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Class Title</b></p></td><td colspan="2" style="vertical-align:bottom;width:10.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">Fee</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Calculation</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Rule</b></p></td><td colspan="2" style="vertical-align:bottom;width:13.62%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">Amount</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Registered(1)(2)</b></p></td><td colspan="2" style="vertical-align:bottom;width:9.78%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">Proposed</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Maximum</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Offering</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Price Per</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Unit(3)</b></p></td><td colspan="2" style="vertical-align:bottom;width:12.74%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">Maximum</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Aggregate</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Offering Price(3)</b></p></td><td colspan="2" style="vertical-align:bottom;width:10.76%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">Fee Rate</b></p></td><td colspan="2" style="vertical-align:bottom;width:11.97%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">Amount of</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Registration</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">Fee(3)</b></p></td></tr><tr><td style="vertical-align:top;width:17.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt -0.37pt 0pt 8.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">Equity</p></td><td style="vertical-align:bottom;width:12.93%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">Common Stock, $1.00 par value, reserved for issuance under the Plan</p></td><td colspan="2" style="vertical-align:top;width:10.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">Rule 457(c) and </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">Rule 457(h)</p></td><td colspan="2" style="vertical-align:top;width:13.62%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">200,000 </p></td><td colspan="2" style="vertical-align:top;width:9.78%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">$51.81</p></td><td colspan="2" style="vertical-align:top;width:12.74%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">$10,362,000</p></td><td colspan="2" style="vertical-align:top;width:10.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">0.0000927</p></td><td colspan="2" style="vertical-align:top;width:11.97%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">$960.56</p></td></tr><tr><td colspan="6" style="vertical-align:top;width:54.73%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt -0.37pt 0pt 8.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><b style="font-weight:bold;">Total Offering Amounts</b></p></td><td style="vertical-align:bottom;width:0.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:9.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.39%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:12.35%;border-bottom:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">$10,362,000</p></td><td style="vertical-align:bottom;width:0.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:10.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:11.47%;border-bottom:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 2.02pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">$960.56</p></td></tr><tr><td colspan="6" style="vertical-align:top;width:54.73%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt -0.37pt 0pt 8.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><b style="font-weight:bold;">Total Fee Offsets</b></p></td><td style="vertical-align:bottom;width:0.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:9.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.39%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:12.35%;border-bottom:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">&#8212;</p></td><td style="vertical-align:bottom;width:0.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:10.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:11.47%;border-bottom:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 2.02pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">&#8212;</p></td></tr><tr><td colspan="6" style="vertical-align:top;width:54.73%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt -0.37pt 0pt 8.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><b style="font-weight:bold;">Net Fee Due</b></p></td><td style="vertical-align:bottom;width:0.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:9.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.39%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:12.35%;border-bottom:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:10.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:11.47%;border-bottom:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 2.02pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">$960.56</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;background:#ffff00;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">(1) Consists of shares of common stock, par value $1.00 per share (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Common Stock</u>&#8221;), of C&amp;F Financial Corporation (the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Company</u>&#8221;) reserved for issuance under the C&amp;F Financial Corporation 2022 Stock and Incentive Compensation Plan (the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Plan</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><font style="white-space:pre-wrap;">(2)  Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the &#8220;</font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Securities Act</u>&#8221;), this Registration Statement shall also cover any additional shares of the Company&#8217;s Common Stock that become issuable under the Plan by reason of any future stock dividend, stock split, reverse stock split, recapitalization, merger, consolidation, reorganization, reclassification, combination, exchange of shares or similar event or change in the Company&#8217;s capital stock.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:0pt;"><font style="font-size:10pt;visibility:hidden;background:#ffff00;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><font style="white-space:pre-wrap;">(3) Estimated in accordance with Rule 457(c) and Rule 457(h) of the Securities Act. Pursuant to Rule 457(c) and 457(h) of the Securities Act, the proposed maximum offering price per share and the proposed maximum aggregate offering price are estimated solely for the purpose of calculating the amount of the registration fee.  The price shown is based upon the average of the high and low prices reported for the Common Stock on the Nasdaq Global Market on May 3, 2022, or $51.81 (rounded up to the nearest cent).  </font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:9.41%;margin-right:7.06%;margin-top:30pt;page-break-after:avoid;width:83.53%;border-width:0;"></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
