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Equity, Other Comprehensive Income (Loss) and Earnings Per Share (Tables) | 9 Months Ended
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Sep. 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 June 30, 2024 | ​ | $ | (25,439) | ​ | $ | (2,736) | ​ | $ | 1,076 | ​ | $ | (27,099)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income (loss) arising during the period | ​ |  | 10,453 | ​ |  | — | ​ |  | (864) | ​ |  | 9,589
Related income tax effects | ​ |  | (2,195) | ​ |  | — | ​ |  | 222 | ​ |  | (1,973)
​ | ​ | ​ | 8,258 | ​ | ​ | — | ​ | ​ | (642) | ​ | ​ | 7,616
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | — | ​ | ​ | 20 | ​ | ​ | — | ​ | ​ | 20
Related income tax effects | ​ | ​ | — | ​ | ​ | (4) | ​ | ​ | — | ​ | ​ | (4)
​ | ​ | ​ | — | ​ | ​ | 16 | ​ | ​ | — | ​ | ​ | 16
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income (loss), net of tax | ​ | ​ | 8,258 | ​ | ​ | 16 | ​ | ​ | (642) | ​ | ​ | 7,632
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at September 30, 2024 | ​ | $ | (17,181) | ​ | $ | (2,720) | ​ | $ | 434 | ​ | $ | (19,467)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 December 31, 2023 | ​ | $ | (25,002) | ​ | $ | (2,752) | ​ | $ | 1,067 | ​ | $ | (26,687)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income (loss) arising during the period | ​ |  | 9,900 | ​ |  | — | ​ |  | (847) | ​ |  | 9,053
Related income tax effects | ​ |  | (2,079) | ​ |  | — | ​ |  | 218 | ​ |  | (1,861)
​ | ​ | ​ | 7,821 | ​ | ​ | — | ​ | ​ | (629) | ​ | ​ | 7,192
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reclassifications into net income | ​ | ​ | — | ​ | ​ | 40 | ​ | ​ | (5) | ​ | ​ | 35
Related income tax effects | ​ | ​ | — | ​ | ​ | (8) | ​ | ​ | 1 | ​ | ​ | (7)
​ | ​ | ​ | — | ​ | ​ | 32 | ​ | ​ | (4) | ​ | ​ | 28
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income (loss), net of tax | ​ | ​ | 7,821 | ​ | ​ | 32 | ​ | ​ | (633) | ​ | ​ | 7,220
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive (loss) income at September 30, 2024 | ​ | $ | (17,181) | ​ | $ | (2,720) | ​ | $ | 434 | ​ | $ | (19,467)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 | ​ |  | (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 income (loss), 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)
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) |  | 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 | ​ | ​ | (38) | ​ | ​ | (42) | ​ | ​ | ​ | (92) | ​ | ​ | (128) | ​ | ​ | Noninterest expenses - Other
Amortization of prior service credit into net income | ​ | ​ | 18 | ​ | ​ | 17 | ​ | ​ | ​ | 52 | ​ | ​ | 51 | ​ | ​ | Noninterest expenses - Other
Related income tax effects | ​ | ​ | 4 | ​ | ​ | 5 | ​ | ​ | ​ | 8 | ​ | ​ | 16 | ​ | ​ | Income tax expense
​ | ​ | ​ | (16) | ​ | ​ | (20) | ​ | ​ | ​ | (32) | ​ | ​ | (61) | ​ | ​ | Net of tax
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of hedging gains into net income | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | ​ | 5 | ​ | ​ | 5 | ​ | ​ | Interest expense - Trust preferred capital notes
Related income tax effects | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​ | (1) | ​ | ​ | (1) | ​ | ​ | Income tax expense
​ | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | ​ | 4 | ​ | ​ | 4 | ​ | ​ | Net of tax
​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​
Total reclassifications into net income | ​ | $ | (16) | ​ | $ | (19) | ​ | ​ | $ | (28) | ​ | $ | (61) | ​ | ​ | ​
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) |  | 2024 |  | 2023 |
Net income attributable to C&F Financial Corporation | ​ | $ | 5,389 | ​ | $ | 5,789 | ​
Weighted average shares outstanding—basic and diluted | ​ |  | 3,258,420 | ​ |  | 3,391,624 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30, |
(Dollars in thousands) |  | 2024 |  | 2023 |
Net income attributable to C&F Financial Corporation | ​ | $ | 13,797 | ​ | $ | 18,536 | ​
Weighted average shares outstanding—basic and diluted | ​ |  | 3,323,942 | ​ |  | 3,426,845 | ​

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