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Equity, Other Comprehensive Income (Loss) and Earnings Per Share (Tables) | 3 Months Ended
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Mar. 31, 2024
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 December 31, 2023 | ​ | $ | (25,002) | ​ | $ | (2,752) | ​ | $ | 1,067 | ​ | $ | (26,687)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income arising during the period | ​ |  | (2,615) | ​ |  | — | ​ |  | 106 | ​ |  | (2,509)
Related income tax effects | ​ |  | 549 | ​ |  | — | ​ |  | (27) | ​ |  | 522
​ | ​ | ​ | (2,066) | ​ | ​ | — | ​ | ​ | 79 | ​ | ​ | (1,987)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | — | ​ | ​ | 9 | ​ | ​ | (3) | ​ | ​ | 6
Related income tax effects | ​ | ​ | — | ​ | ​ | (2) | ​ | ​ | 1 | ​ | ​ | (1)
​ | ​ | ​ | — | ​ | ​ | 7 | ​ | ​ | (2) | ​ | ​ | 5
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income, net of tax | ​ | ​ | (2,066) | ​ | ​ | 7 | ​ | ​ | 77 | ​ | ​ | (1,982)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at March 31, 2024 | ​ | $ | (27,068) | ​ | $ | (2,745) | ​ | $ | 1,144 | ​ | $ | (28,669)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 income (loss) arising during the period | ​ |  | 6,680 | ​ |  | — | ​ |  | (353) | ​ |  | 6,327
Related income tax effects | ​ |  | (1,403) | ​ |  | — | ​ |  | 91 | ​ |  | (1,312)
​ | ​ | ​ | 5,277 | ​ | ​ | — | ​ | ​ | (262) | ​ | ​ | 5,015
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | 5 | ​ | ​ | 21 | ​ | ​ | (2) | ​ | ​ | 24
Related income tax effects | ​ | ​ | (1) | ​ | ​ | (4) | ​ | ​ | 1 | ​ | ​ | (4)
​ | ​ | ​ | 4 | ​ | ​ | 17 | ​ | ​ | (1) | ​ | ​ | 20
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income (loss), net of tax | ​ | ​ | 5,281 | ​ | ​ | 17 | ​ | ​ | (263) | ​ | ​ | 5,035
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at March 31, 2023 | ​ | $ | (29,903) | ​ | $ | (3,219) | ​ | $ | 1,199 | ​ | $ | (31,923)
Schedule of reclassifications from accumulated other comprehensive loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, | ​ | ​ | ​ | Line Item In the Consolidated
(Dollars in thousands) |  | 2024 |  | 2023 | ​ |  | ​ | 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 | ​ | ​ | (27) | ​ | ​ | (38) | ​ | ​ | ​ | Noninterest expenses - Other
Amortization of prior service credit into net income | ​ | ​ | 18 | ​ | ​ | 17 | ​ | ​ | ​ | Noninterest expenses - Other
Related income tax effects | ​ | ​ | 2 | ​ | ​ | 4 | ​ | ​ | ​ | Income tax expense
​ | ​ | ​ | (7) | ​ | ​ | (17) | ​ | ​ | ​ | Net of tax
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of hedging gains into net income | ​ | ​ | 3 | ​ | ​ | 2 | ​ | ​ | ​ | Interest expense - Trust preferred capital notes
Related income tax effects | ​ | ​ | (1) | ​ | ​ | (1) | ​ | ​ | ​ | Income tax expense
​ | ​ | ​ | 2 | ​ | ​ | 1 | ​ | ​ | ​ | Net of tax
​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
Total reclassifications into net income | ​ | $ | (5) | ​ | $ | (20) | ​ | ​ | ​ | ​
1 | See “Note 8: Employee Benefit Plans,” for additional information.
Schedule of components earnings per share calculations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, |
(Dollars in thousands) |  | 2024 |  | 2023 |
Net income attributable to C&F Financial Corporation | ​ | $ | 3,401 | ​ | $ | 6,441 | ​
Weighted average shares outstanding—basic and diluted | ​ |  | 3,370,934 | ​ |  | 3,464,895 | ​
​

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