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Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2023

Parent Company Only Condensed Financial Information [Abstract]

Parent Company Only Condensed Financial Information

NOTE 19 – PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed financial information of CF Bankshares Inc. follows:

	2023			2022
Assets
Cash and cash equivalents	$	530		$	487
Equity securities		5,000			5,000
Investment in banking subsidiary		194,985			175,123
Investment in and advances to other subsidiary		257			247
Other assets		3,387			3,027
Total assets	$	204,159		$	183,884
Liabilities and Equity
Subordinated debentures	$	14,961		$	14,922
Other borrowings		33,495			29,461
Accrued expenses and other liabilities		329			253
Stockholders' equity		155,374			139,248
Total liabilities and stockholders' equity	$	204,159		$	183,884

	2023			2022			2021
Dividend income	$	6,000		$	10,000		$	-
Interest income		1			-			414
Other income		724			675			230
Interest expense		2,492			1,882			1,527
Other expense		887			796			851
Loss before income tax and before undistributed subsidiary income		3,346			7,997			(1,734)
Tax effect		599			463			407
Loss after income tax and before undistributed subsidiary income		3,945			8,460			(1,327)
Equity in undistributed subsidiary income		12,992			9,704			19,780
Net income	$	16,937		$	18,164		$	18,453
Comprehensive income	$	16,684		$	16,297		$	18,187

	2023			2022			2021
Cash flows from operating activities
Net Income	$	16,937		$	18,164		$	18,453
Adjustments:
Effect of subsidiaries' operations		(12,992)			(9,704)			(19,780)
Amortization, net		39			39			39
Change in other assets and other liabilities		(284)			263			(681)
Net cash used by operating activities		3,700			8,762			(1,969)
Cash flows from investing activities
Investments in banking subsidiary		(6,000)			(11,000)			(10,000)
Net cash from (used by ) investing activities		(6,000)			(11,000)			(10,000)
Cash flows from financing activities
Proceeds from other borrowings		10,034			15,184			19,277
Repayments of other borrowings		(6,000)			(10,000)			(4,500)
Proceeds from exercise of stock options		84			387			185
Acquisition of treasury shares surrendered upon vesting of restricted stock for payment of taxes and exercise proceeds		(122)			(173)			(139)
Purchase of treasury shares		(177)			(2,339)			(2,972)
Dividends paid		(1,476)			(1,153)			(848)
Net cash from financing activities		2,343			1,906			11,003
Net change in cash and cash equivalents		43			(332)			(966)
Beginning cash and cash equivalents		487			819			1,785
Ending cash and cash equivalents	$	530		$	487		$	819

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- References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6

Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-11

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