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Equity, Other Comprehensive Income (Loss) and Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 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 March 31, 2024 | ​ | $ | (27,068) | ​ | $ | (2,745) | ​ | $ | 1,144 | ​ | $ | (28,669)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income (loss) arising during the period | ​ |  | 2,062 | ​ |  | — | ​ |  | (89) | ​ |  | 1,973
Related income tax effects | ​ |  | (433) | ​ |  | — | ​ |  | 23 | ​ |  | (410)
​ | ​ | ​ | 1,629 | ​ | ​ | — | ​ | ​ | (66) | ​ | ​ | 1,563
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | — | ​ | ​ | 11 | ​ | ​ | (2) | ​ | ​ | 9
Related income tax effects | ​ | ​ | — | ​ | ​ | (2) | ​ | ​ | — | ​ | ​ | (2)
​ | ​ | ​ | — | ​ | ​ | 9 | ​ | ​ | (2) | ​ | ​ | 7
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income (loss), net of tax | ​ | ​ | 1,629 | ​ | ​ | 9 | ​ | ​ | (68) | ​ | ​ | 1,570
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at June 30, 2024 | ​ | $ | (25,439) | ​ | $ | (2,736) | ​ | $ | 1,076 | ​ | $ | (27,099)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Securities |  | Defined |  | Cash |  | ​ | ​
​ | ​ | Available | ​ | Benefit | ​ | Flow | ​ | ​
(Dollars in thousands) | ​ | For Sale | ​ | Plan | ​ | Hedges | ​ | Total
Accumulated other comprehensive (loss) income at March 31, 2023 | ​ | $ | (29,903) | ​ | $ | (3,219) | ​ | $ | 1,199 | ​ | $ | (31,923)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income arising during the period | ​ |  | (4,724) | ​ |  | — | ​ |  | 305 | ​ |  | (4,419)
Related income tax effects | ​ |  | 992 | ​ |  | — | ​ |  | (78) | ​ |  | 914
​ | ​ | ​ | (3,732) | ​ | ​ | — | ​ | ​ | 227 | ​ | ​ | (3,505)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | — | ​ | ​ | 31 | ​ | ​ | (2) | ​ | ​ | 29
Related income tax effects | ​ | ​ | — | ​ | ​ | (7) | ​ | ​ | — | ​ | ​ | (7)
​ | ​ | ​ | — | ​ | ​ | 24 | ​ | ​ | (2) | ​ | ​ | 22
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income, net of tax | ​ | ​ | (3,732) | ​ | ​ | 24 | ​ | ​ | 225 | ​ | ​ | (3,483)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at June 30, 2023 | ​ | $ | (33,635) | ​ | $ | (3,195) | ​ | $ | 1,424 | ​ | $ | (35,406)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 | ​ |  | (553) | ​ |  | — | ​ |  | 17 | ​ |  | (536)
Related income tax effects | ​ |  | 116 | ​ |  | — | ​ |  | (4) | ​ |  | 112
​ | ​ | ​ | (437) | ​ | ​ | — | ​ | ​ | 13 | ​ | ​ | (424)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | — | ​ | ​ | 20 | ​ | ​ | (5) | ​ | ​ | 15
Related income tax effects | ​ | ​ | — | ​ | ​ | (4) | ​ | ​ | 1 | ​ | ​ | (3)
​ | ​ | ​ | — | ​ | ​ | 16 | ​ | ​ | (4) | ​ | ​ | 12
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive (loss) income, net of tax | ​ | ​ | (437) | ​ | ​ | 16 | ​ | ​ | 9 | ​ | ​ | (412)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at June 30, 2024 | ​ | $ | (25,439) | ​ | $ | (2,736) | ​ | $ | 1,076 | ​ | $ | (27,099)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 | ​ |  | 1,956 | ​ |  | — | ​ |  | (48) | ​ |  | 1,908
Related income tax effects | ​ |  | (411) | ​ |  | — | ​ |  | 13 | ​ |  | (398)
​ | ​ | ​ | 1,545 | ​ | ​ | — | ​ | ​ | (35) | ​ | ​ | 1,510
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | 5 | ​ | ​ | 52 | ​ | ​ | (4) | ​ | ​ | 53
Related income tax effects | ​ | ​ | (1) | ​ | ​ | (11) | ​ | ​ | 1 | ​ | ​ | (11)
​ | ​ | ​ | 4 | ​ | ​ | 41 | ​ | ​ | (3) | ​ | ​ | 42
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income (loss), net of tax | ​ | ​ | 1,549 | ​ | ​ | 41 | ​ | ​ | (38) | ​ | ​ | 1,552
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at June 30, 2023 | ​ | $ | (33,635) | ​ | $ | (3,195) | ​ | $ | 1,424 | ​ | $ | (35,406)
Schedule of reclassifications from accumulated other comprehensive loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | ​ | Six Months Ended June 30, | ​ | Line Item In the Consolidated
(Dollars in thousands) |  | 2024 |  | 2023 | ​ |  | 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) | ​ | ​ | (48) | ​ | ​ | ​ | (54) | ​ | ​ | (86) | ​ | ​ | Noninterest expenses - Other
Amortization of prior service credit into net income | ​ | ​ | 16 | ​ | ​ | 17 | ​ | ​ | ​ | 34 | ​ | ​ | 34 | ​ | ​ | Noninterest expenses - Other
Related income tax effects | ​ | ​ | 2 | ​ | ​ | 7 | ​ | ​ | ​ | 4 | ​ | ​ | 11 | ​ | ​ | Income tax expense
​ | ​ | ​ | (9) | ​ | ​ | (24) | ​ | ​ | ​ | (16) | ​ | ​ | (41) | ​ | ​ | Net of tax
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of hedging gains into net income | ​ | ​ | 2 | ​ | ​ | 2 | ​ | ​ | ​ | 5 | ​ | ​ | 4 | ​ | ​ | Interest expense - Trust preferred capital notes
Related income tax effects | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​ | (1) | ​ | ​ | (1) | ​ | ​ | Income tax expense
​ | ​ | ​ | 2 | ​ | ​ | 2 | ​ | ​ | ​ | 4 | ​ | ​ | 3 | ​ | ​ | Net of tax
​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​
Total reclassifications into net income | ​ | $ | (7) | ​ | $ | (22) | ​ | ​ | $ | (12) | ​ | $ | (42) | ​ | ​ | ​
1 | See “Note 8: Employee Benefit Plans,” for additional information.
Schedule of components earnings per share calculations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, |
(Dollars in thousands) |  | 2024 |  | 2023 |
Net income attributable to C&F Financial Corporation | ​ | $ | 5,007 | ​ | $ | 6,306 | ​
Weighted average shares outstanding—basic and diluted | ​ |  | 3,343,192 | ​ |  | 3,424,820 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30, |
(Dollars in thousands) |  | 2024 |  | 2023 |
Net income attributable to C&F Financial Corporation | ​ | $ | 8,408 | ​ | $ | 12,747 | ​
Weighted average shares outstanding—basic and diluted | ​ |  | 3,357,063 | ​ |  | 3,444,746 | ​

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