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Holding Company Condensed Financial Information

12 Months Ended

Dec. 31, 2022

Holding Company Condensed Financial Information

Holding Company Condensed Financial Information

NOTE 22: Holding Company Condensed Financial Information

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The following tables present the condensed balance sheets as of December 31, 2022 and 2021 and the condensed statements of comprehensive income and cash flows for the years ended December 31, 2022, 2021 and 2020 for the Corporation on a standalone basis:

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​	​	​	​	​	​	​	​
​	​	December 31,
(Dollars in thousands)		2022			2021
Condensed Balance Sheets	​	​	​	​	​	​	​
Assets	​	​	​	​	​	​	​
Cash	​	$	22,094	​	$	20,584	​
Other assets	​		21,227	​		24,884	​
Investment in C&F Bank	​		218,262	​		235,771	​
Total assets	​	$	261,583	​	$	281,239	​
Liabilities and equity	​	​	​	​	​	​	​
Trust preferred capital notes	​	$	25,386	​	$	25,351	​
Long-term borrowings	​	​	23,965	​	​	24,029	​
Other liabilities	​		16,598	​		21,541	​
Equity	​		195,634	​		210,318	​
Total liabilities and equity	​	$	261,583	​	$	281,239	​

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​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(Dollars in thousands)		2022			2021			2020
Condensed Statements of Comprehensive Income	​	​	​	​	​	​	​	​	​	​
Interest expense on borrowings	​	$	(2,358)	​	$	(2,348)	​	$	(1,611)	​
Dividends received from C&F Bank	​		12,500	​		12,500	​		8,746	​
Equity in undistributed net income of C&F Bank	​		19,292	​		18,653	​		15,373	​
Other income	​		(3,230)	​		2,207	​		2,041	​
Other expenses	​		2,955	​		(2,345)	​		(2,432)	​
Net income	​	​	29,159	​	​	28,667	​	​	22,117	​
Other comprehensive income (loss), net of tax	​	​	(34,871)	​	​	(132)	​	​	294	​
Comprehensive (loss) income	​	$	(5,712)	​	$	28,535	​	$	22,411	​

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​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(Dollars in thousands)		2022			2021			2020
Condensed Statements of Cash Flows	​	​	​	​	​	​	​	​	​	​
Operating activities:	​	​	​	​	​	​	​	​	​	​
Net cash provided by operating activities	​	$	9,750	​	$	12,001	​	$	8,141	​
Investing activities:	​	​	​	​	​	​	​	​	​	​
Acquisition of Peoples Bankshares, Inc.	​		—	​		—	​		(10,084)	​
Swap collateral, net	​	​	2,705	​	​	1,030	​	​	(1,710)	​
Net cash provided by (used in) investing activities	​		2,705	​		1,030	​		(11,794)	​
Financing activities:	​	​	​	​	​	​	​	​	​	​
Proceeds from borrowings	​	​	—	​	​	—	​	​	19,924	​
Common stock repurchases	​	​	(5,373)	​	​	(8,232)	​	​	(1,061)	​
Cash dividends	​		(5,756)	​		(5,675)	​		(5,546)	​
Other financing activities, net	​		184	​		188	​		144	​
Net cash (used in) provided by financing activities	​		(10,945)	​		(13,719)	​		13,461	​
Net increase (decrease) in cash and cash equivalents	​		1,510	​		(688)	​		9,808	​
Cash at beginning of year	​		20,584	​		21,272	​		11,464	​
Cash at end of year	​	$	22,094	​	$	20,584	​	$	21,272	​

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X

- References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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