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Equity, Other Comprehensive Income (Loss) and Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity, Other Comprehensive Income (Loss) and Earnings Per Share |
Schedule of the components of accumulated other comprehensive loss, net of deferred taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Securities |  | Defined |  | Cash |  | ​ | ​
​ | ​ | Available | ​ | Benefit | ​ | Flow | ​ | ​
(Dollars in thousands) | ​ | For Sale | ​ | Plan | ​ | Hedges | ​ | Total
Accumulated other comprehensive (loss) income at June 30, 2023 | ​ | $ | (33,635) | ​ | $ | (3,195) | ​ | $ | 1,424 | ​ | $ | (35,406)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income arising during the period | ​ |  | (7,369) | ​ |  | — | ​ |  | 179 | ​ |  | (7,190)
Related income tax effects | ​ |  | 1,548 | ​ |  | — | ​ |  | (45) | ​ |  | 1,503
​ | ​ | ​ | (5,821) | ​ | ​ | — | ​ | ​ | 134 | ​ | ​ | (5,687)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | — | ​ | ​ | 25 | ​ | ​ | (1) | ​ | ​ | 24
Related income tax effects | ​ | ​ | — | ​ | ​ | (5) | ​ | ​ | — | ​ | ​ | (5)
​ | ​ | ​ | — | ​ | ​ | 20 | ​ | ​ | (1) | ​ | ​ | 19
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income, net of tax | ​ | ​ | (5,821) | ​ | ​ | 20 | ​ | ​ | 133 | ​ | ​ | (5,668)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at September 30, 2023 | ​ | $ | (39,456) | ​ | $ | (3,175) | ​ | $ | 1,557 | ​ | $ | (41,074)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Securities |  | Defined |  | Cash |  | ​ | ​
​ | ​ | Available | ​ | Benefit | ​ | Flow | ​ | ​
(Dollars in thousands) | ​ | For Sale | ​ | Plan | ​ | Hedges | ​ | Total
Accumulated other comprehensive (loss) income at June 30, 2022 | ​ | $ | (24,333) | ​ | $ | (2,067) | ​ | $ | 875 | ​ | $ | (25,525)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income arising during the period | ​ |  | (19,547) | ​ |  | — | ​ |  | 882 | ​ |  | (18,665)
Related income tax effects | ​ |  | 4,104 | ​ |  | — | ​ |  | (228) | ​ |  | 3,876
​ | ​ | ​ | (15,443) | ​ | ​ | — | ​ | ​ | 654 | ​ | ​ | (14,789)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | — | ​ | ​ | (7) | ​ | ​ | (1) | ​ | ​ | (8)
Related income tax effects | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | 2
​ | ​ | ​ | — | ​ | ​ | (5) | ​ | ​ | (1) | ​ | ​ | (6)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income, net of tax | ​ | ​ | (15,443) | ​ | ​ | (5) | ​ | ​ | 653 | ​ | ​ | (14,795)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at September 30, 2022 | ​ | $ | (39,776) | ​ | $ | (2,072) | ​ | $ | 1,528 | ​ | $ | (40,320)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Securities |  | Defined |  | Cash |  | ​ | ​
​ | ​ | Available | ​ | Benefit | ​ | Flow | ​ | ​
(Dollars in thousands) | ​ | For Sale | ​ | Plan | ​ | Hedges | ​ | Total
Accumulated other comprehensive (loss) income at December 31, 2022 | ​ | $ | (35,184) | ​ | $ | (3,236) | ​ | $ | 1,462 | ​ | $ | (36,958)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income arising during the period | ​ |  | (5,413) | ​ |  | — | ​ |  | 131 | ​ |  | (5,282)
Related income tax effects | ​ |  | 1,137 | ​ |  | — | ​ |  | (32) | ​ |  | 1,105
​ | ​ | ​ | (4,276) | ​ | ​ | — | ​ | ​ | 99 | ​ | ​ | (4,177)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | 5 | ​ | ​ | 77 | ​ | ​ | (5) | ​ | ​ | 77
Related income tax effects | ​ | ​ | (1) | ​ | ​ | (16) | ​ | ​ | 1 | ​ | ​ | (16)
​ | ​ | ​ | 4 | ​ | ​ | 61 | ​ | ​ | (4) | ​ | ​ | 61
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income, net of tax | ​ | ​ | (4,272) | ​ | ​ | 61 | ​ | ​ | 95 | ​ | ​ | (4,116)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at September 30, 2023 | ​ | $ | (39,456) | ​ | $ | (3,175) | ​ | $ | 1,557 | ​ | $ | (41,074)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Securities |  | Defined |  | Cash |  | ​ | ​
​ | ​ | Available | ​ | Benefit | ​ | Flow | ​ | ​
(Dollars in thousands) | ​ | For Sale | ​ | Plan | ​ | Hedges | ​ | Total
Accumulated other comprehensive income (loss) at December 31, 2021 | ​ | $ | 437 | ​ | $ | (2,055) | ​ | $ | (469) | ​ | $ | (2,087)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income arising during the period | ​ |  | (50,902) | ​ |  | — | ​ |  | 2,695 | ​ |  | (48,207)
Related income tax effects | ​ |  | 10,689 | ​ |  | — | ​ |  | (694) | ​ |  | 9,995
​ | ​ | ​ | (40,213) | ​ | ​ | — | ​ | ​ | 2,001 | ​ | ​ | (38,212)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | — | ​ | ​ | (22) | ​ | ​ | (5) | ​ | ​ | (27)
Related income tax effects | ​ | ​ | — | ​ | ​ | 5 | ​ | ​ | 1 | ​ | ​ | 6
​ | ​ | ​ | — | ​ | ​ | (17) | ​ | ​ | (4) | ​ | ​ | (21)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income, net of tax | ​ | ​ | (40,213) | ​ | ​ | (17) | ​ | ​ | 1,997 | ​ | ​ | (38,233)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at September 30, 2022 | ​ | $ | (39,776) | ​ | $ | (2,072) | ​ | $ | 1,528 | ​ | $ | (40,320)
Schedule of reclassifications from accumulated other comprehensive loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | ​ | Nine Months Ended September 30, | ​ | Line Item In the Consolidated
(Dollars in thousands) |  | 2023 |  | 2022 | ​ |  | 2023 |  | 2022 | ​ | Statements of Income
Securities available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassification of net realized losses into net income | ​ | $ | — | ​ | $ | — | ​ | ​ | $ | (5) | ​ | $ | — | ​ | Net losses on sales, maturities and calls of available for sale securities
Related income tax effects | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​ | 1 | ​ | ​ | — | ​ | Income tax expense
​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​ | (4) | ​ | ​ | — | ​ | Net of tax
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Defined benefit plan:1 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassification of recognized net actuarial losses into net income | ​ | ​ | (42) | ​ | ​ | (10) | ​ | ​ | ​ | (128) | ​ | ​ | (29) | ​ | Noninterest expenses - Other
Amortization of prior service credit into net income | ​ | ​ | 17 | ​ | ​ | 17 | ​ | ​ | ​ | 51 | ​ | ​ | 51 | ​ | Noninterest expenses - Other
Related income tax effects | ​ | ​ | 5 | ​ | ​ | (2) | ​ | ​ | ​ | 16 | ​ | ​ | (5) | ​ | Income tax expense
​ | ​ | ​ | (20) | ​ | ​ | 5 | ​ | ​ | ​ | (61) | ​ | ​ | 17 | ​ | Net of tax
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of hedging gains into net income | ​ | ​ | 1 | ​ | ​ | 1 | ​ | ​ | ​ | 5 | ​ | ​ | 5 | ​ | Interest expense - Trust preferred capital notes
Related income tax effects | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​ | (1) | ​ | ​ | (1) | ​ | Income tax expense
​ | ​ | ​ | 1 | ​ | ​ | 1 | ​ | ​ | ​ | 4 | ​ | ​ | 4 | ​ | Net of tax
​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​
Total reclassifications into net income | ​ | $ | (19) | ​ | $ | 6 | ​ | ​ | $ | (61) | ​ | $ | 21 | ​ | ​
1 | See “Note 8: Employee Benefit Plans,” for additional information.
Schedule of components earnings per share calculations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, |
(Dollars in thousands) |  | 2023 |  | 2022 |
Net income attributable to C&F Financial Corporation | ​ | $ | 5,789 | ​ | $ | 6,480 | ​
Weighted average shares outstanding—basic and diluted | ​ |  | 3,391,624 | ​ |  | 3,511,326 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30, |
(Dollars in thousands) |  | 2023 |  | 2022 |
Net income attributable to C&F Financial Corporation | ​ | $ | 18,536 | ​ | $ | 18,851 | ​
Weighted average shares outstanding—basic and diluted | ​ |  | 3,426,845 | ​ |  | 3,531,064 | ​
​

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