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Stock impact report

CF BANKSHARES INC., PARENT OF CFBANK NA, REPORTS RESULTS FOR THE 3rd QUARTER 2024

CF Bankshares Inc. (CFBK) 
Company Research Source: PR Newswire
COLUMBUS, Ohio, Oct. 30, 2024 /PRNewswire/ -- CF Bankshares Inc. (NASDAQ: CFBK) (the "Company"), the parent of CFBank, National Association ("CFBank"), today announced financial results for the third quarter ended September 30, 2024.Third Quarter 2024 and YTD HighlightsNet income for Q3 2024 was $4.2 million ($0.65 per diluted common share). Pre-provision, pre-tax net revenue (PPNR) for Q3 2024 was $5.8 million. Return on Average Equity (ROE) was 10.38% for the third quarter, while Return on Average Assets (ROA) was 0.84%.Net Interest Margin (NIM) increased 2bps when compared to the previous quarter.  This represents the second consecutive quarter where we have achieved NIM expansion.Noninterest bearing deposits grew by $40 million (18%) during the quarter.  Total core deposits are up $57 million when compared to June 30, 2024.Commercial loans increased $35 million during the quarter and total loans and leases (gross) increased $27 million.   Service charge fee income increased $259,0 Show less Read more
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