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Equity, Other Comprehensive Income and Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2025

Equity, Other Comprehensive Income 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, 2025

$

(19,083)

$

(1,806)

$

598

$

(20,291)

Other comprehensive loss arising during the period

(1,040)

—

(272)

(1,312)

Related income tax effects

218

—

70

288

(822)

—

(202)

(1,024)

Reclassifications into net income

—

1

19

20

Related income tax effects

—

(1)

(5)

(6)

—

—

14

14

Other comprehensive loss, net of tax

(822)

—

(188)

(1,010)

Accumulated other comprehensive (loss) income at June 30, 2025

$

(19,905)

$

(1,806)

$

410

$

(21,301)


		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 December 31, 2024

$

(23,693)

$

(1,797)

$

886

$

(24,604)

Other comprehensive income (loss) arising during the period

4,795

—

(659)

4,136

Related income tax effects

(1,007)

—

170

(837)

3,788

—

(489)

3,299

Reclassifications into net income

—

(11)

17

6

Related income tax effects

—

2

(4)

(2)

—

(9)

13

4

Other comprehensive income (loss), net of tax

3,788

(9)

(476)

3,303

Accumulated other comprehensive (loss) income at June 30, 2025

$

(19,905)

$

(1,806)

$

410

$

(21,301)


		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)

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)		2025			2024				2025			2024				Statements of Income
Defined benefit plan:¹
Reclassification of recognized net actuarial losses into net income			(18)			(27)				(23)			(54)			Noninterest expenses - Other
Amortization of prior service credit into net income			17			16				34			34			Noninterest expenses - Other
Related income tax effects			1			2				(2)			4			Income tax expense
			—			(9)				9			(16)			Net of tax

Cash flow hedges:
Amortization of hedging gains into net income			(19)			2				(17)			5			Interest expense - Trust preferred capital notes
Related income tax effects			5			—				4			(1)			Income tax expense
			(14)			2				(13)			4			Net of tax

Total		$	(14)		$	(7)			$	(4)		$	(12)

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)		2025			2024
Net income attributable to C&F Financial Corporation		$	7,691		$	5,007
Weighted average shares outstanding—basic and diluted			3,238,765			3,343,192


		Six Months Ended June 30,
(Dollars in thousands)		2025			2024
Net income attributable to C&F Financial Corporation		$	13,059		$	8,408
Weighted average shares outstanding—basic and diluted			3,236,849			3,357,063