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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income        
Interest and fees on loans $ 28,369 $ 23,159 $ 81,845 $ 65,566
Interest on interest-bearing deposits and federal funds sold 379 521 836 1,021
Interest and dividends on securities        
U.S. treasury, government agencies and corporations 795 961 2,785 1,800
Mortgage-backed securities 902 854 2,782 2,300
Tax-exempt obligations of states and political subdivisions 731 409 2,031 1,096
Taxable obligations of states and political subdivisions 178 188 545 475
Corporate and other 332 234 905 691
Total interest income 31,686 26,326 91,729 72,949
Interest expense        
Savings and interest-bearing deposits 1,316 557 3,790 1,415
Time deposits 4,316 722 9,447 2,070
Borrowings 1,291 373 3,837 1,110
Trust preferred capital notes 301 294 890 867
Total interest expense 7,224 1,946 17,964 5,462
Net interest income 24,462 24,380 73,765 67,487
Provision for credit losses 2,050 1,200 5,800 1,402
Net interest income after provision for credit losses 22,412 23,180 67,965 66,085
Noninterest income        
Gains on sales of loans 1,220 1,870 4,930 6,763
Interchange income 1,558 1,513 4,658 4,502
Service charges on deposit accounts 1,122 1,099 3,241 3,216
Investment income in other equity interests 211 64 480 294
Mortgage banking fee income 558 731 1,695 2,508
Wealth management services income, net 630 613 1,855 1,885
Mortgage lender services income 537 397 1,567 1,259
Other service charges and fees 364 403 1,134 1,179
Net losses on sales, maturities and calls of available for sale securities     (5)  
Other income (loss), net (180) (561) 1,671 (3,085)
Total noninterest income 6,020 6,129 21,226 18,521
Noninterest expenses        
Salaries and employee benefits 12,921 12,202 40,841 34,700
Occupancy 1,944 2,182 5,975 6,507
Other 6,467 6,705 19,408 19,192
Total noninterest expenses 21,332 21,089 66,224 60,399
Income before income taxes 7,100 8,220 22,967 24,207
Income tax expense 1,323 1,675 4,309 5,144
Net income 5,777 6,545 18,658 19,063
Less net (loss) income attributable to noncontrolling interest (12) 65 122 212
Net income attributable to C&F Financial Corporation $ 5,789 $ 6,480 $ 18,536 $ 18,851
Net income per share - basic (in dollars per share) $ 1.71 $ 1.85 $ 5.41 $ 5.34
Net income per share - diluted (in dollars per share) $ 1.71 $ 1.85 $ 5.41 $ 5.34