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Subsequent Events | 3 Months Ended
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Mar. 31, 2025
Subsequent Event [Abstract] |
Subsequent Events | NOTE 16- SUBSEQUENT EVENTS On April 2, 2025, the Company’s Board of Directors declared a cash dividend of $0.07 per share on its common stock and a corresponding cash dividend of $7.00 per share on its Series D Preferred Stock. The dividend was paid on April 22, 2025 to shareholders of record as of the close of business on April 14, 2025. On April 30, 2025, the Company entered into a new $10 million revolving line of credit with the same third-party bank that is the lender on its existing $35 million holding company credit facility. The revolving line of credit matures on April 30, 2027 and bears interest at a fixed rate of 6.00% until May 21, 2026, at which time the rate will then convert to a floating rate equal to PRIME. The revolving line of credit provides an additional $10 million of availability that could be drawn on to inject additional Tier 1 capital into CFBank. Effective April 30, 2025, the Company’s $35,000 credit facility was also amended to reset the fixed rate to 6.00% until May 21, 2026, at which time the rate will then convert to a floating rate equal to PRIME.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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