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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income        
Interest and fees on loans $ 27,416 $ 21,923 $ 53,476 $ 42,407
Interest on interest-bearing deposits and federal funds sold 281 394 457 500
Interest and dividends on securities        
U.S. treasury, government agencies and corporations 955 546 1,990 839
Mortgage-backed securities 933 778 1,880 1,446
Tax-exempt obligations of states and political subdivisions 682 337 1,300 687
Taxable obligations of states and political subdivisions 183 174 367 287
Corporate and other 288 240 573 457
Total interest income 30,738 24,392 60,043 46,623
Interest expense        
Savings and interest-bearing deposits 1,265 471 2,474 858
Time deposits 3,311 630 5,131 1,348
Borrowings 1,521 371 2,546 737
Trust preferred capital notes 296 289 589 573
Total interest expense 6,393 1,761 10,740 3,516
Net interest income 24,345 22,631 49,303 43,107
Provision for credit losses 1,700 530 3,750 202
Net interest income after provision for credit losses 22,645 22,101 45,553 42,905
Noninterest income        
Gains on sales of loans 1,916 2,198 3,710 4,893
Interchange income 1,580 1,559 3,100 2,989
Service charges on deposit accounts 1,071 1,071 2,119 2,117
Investment income in other equity interests 156 92 269 230
Mortgage banking fee income 643 924 1,137 1,777
Wealth management services income, net 611 625 1,225 1,272
Mortgage lender services income 579 438 1,030 862
Other service charges and fees 379 402 770 776
Net losses on sales, maturities and calls of available for sale securities     (5)  
Other income (loss), net 828 (1,646) 1,851 (2,524)
Total noninterest income 7,763 5,663 15,206 12,392
Noninterest expenses        
Salaries and employee benefits 14,022 10,642 27,920 22,498
Occupancy 1,987 2,116 4,031 4,325
Other 6,482 6,341 12,941 12,487
Total noninterest expenses 22,491 19,099 44,892 39,310
Income before income taxes 7,917 8,665 15,867 15,987
Income tax expense 1,533 1,882 2,986 3,469
Net income 6,384 6,783 12,881 12,518
Less net income attributable to noncontrolling interest 78 41 134 147
Net income attributable to C&F Financial Corporation $ 6,306 $ 6,742 $ 12,747 $ 12,371
Net income per share - basic (in dollars per share) $ 1.84 $ 1.91 $ 3.70 $ 3.49
Net income per share - diluted (in dollars per share) $ 1.84 $ 1.91 $ 3.70 $ 3.49