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

9 Months Ended

Sep. 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 June 30, 2025

$

(19,905)

$

(1,806)

$

410

$

(21,301)

Other comprehensive income (loss) arising during the period

8,829

—

(93)

8,736

Related income tax effects

(1,855)

—

24

(1,831)

6,974

—

(69)

6,905

Reclassifications into net income

—

(6)

(1)

(7)

Related income tax effects

—

2

—

2

—

(4)

(1)

(5)

Other comprehensive income (loss), net of tax

6,974

(4)

(70)

6,900

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

$

(12,931)

$

(1,810)

$

340

$

(14,401)


		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 December 31, 2024

$

(23,693)

$

(1,797)

$

886

$

(24,604)

Other comprehensive income (loss) arising during the period

13,624

—

(752)

12,872

Related income tax effects

(2,862)

—

194

(2,668)

10,762

—

(558)

10,204

Reclassifications into net income

—

(17)

16

(1)

Related income tax effects

—

4

(4)

—

—

(13)

12

(1)

Other comprehensive income (loss), net of tax

10,762

(13)

(546)

10,203

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

$

(12,931)

$

(1,810)

$

340

$

(14,401)


		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)

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)		2025			2024				2025			2024				Statements of Income
Defined benefit plan:¹
Reclassification of recognized net actuarial losses into net income			(11)			(38)				(34)			(92)			Noninterest expenses - Other
Amortization of prior service credit into net income			17			18				51			52			Noninterest expenses - Other
Related income tax effects			(2)			4				(4)			8			Income tax expense
			4			(16)				13			(32)			Net of tax

Cash flow hedges:
Amortization of hedging gains into net income			1			—				(16)			5			Interest expense - Trust preferred capital notes
Related income tax effects			—			—				4			(1)			Income tax expense
			1			—				(12)			4			Net of tax

Total		$	5		$	(16)			$	1		$	(28)

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)		2025			2024
Net income attributable to C&F Financial Corporation		$	7,075		$	5,389
Weighted average shares outstanding—basic and diluted			3,238,057			3,258,420


		Nine Months Ended September 30,
(Dollars in thousands)		2025			2024
Net income attributable to C&F Financial Corporation		$	20,134		$	13,797
Weighted average shares outstanding—basic and diluted			3,237,256			3,323,942