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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Interest and fees on loans $ 22,204 $ 22,323 $ 45,101 $ 43,243
Interest on interest-bearing deposits and federal funds sold 52 582 650 1,171
Interest and dividends on securities        
U.S. government agencies and corporations 120 101 246 202
Mortgage-backed securities 543 567 1,063 1,178
Tax-exempt obligations of states and political subdivisions 513 556 1,009 1,139
Taxable obligations of states and political subdivisions 108 93 200 186
Other 44 54 93 108
Total interest income 23,584 24,276 48,362 47,227
Interest expense        
Savings and interest-bearing deposits 355 597 941 1,199
Time deposits 2,131 1,624 4,430 2,930
Borrowings 557 1,120 1,558 2,231
Trust preferred capital notes 287 310 576 595
Total interest expense 3,330 3,651 7,505 6,955
Net interest income 20,254 20,625 40,857 40,272
Provision for loan losses 3,600 1,810 6,250 4,205
Net interest income after provision for loan losses 16,654 18,815 34,607 36,067
Noninterest income        
Gains on sales of loans 4,605 2,955 8,281 5,091
Mortgage banking fee income 1,986 1,267 3,291 2,037
Interchange income 1,141 1,071 2,230 2,029
Service charges on deposit accounts 639 944 1,641 1,862
Wealth management services income, net 748 475 1,333 924
Other service charges and fees 394 417 769 715
Net gains on sales, maturities and calls of available for sale securities 3 1 7 5
Other 2,312 1,072 1,024 2,642
Total noninterest income 11,828 8,202 18,576 15,305
Noninterest expenses        
Salaries and employee benefits 14,354 11,495 25,171 23,402
Occupancy 2,567 2,148 4,894 4,338
Other 6,871 5,906 13,812 11,486
Total noninterest expenses 23,792 19,549 43,877 39,226
Income before income taxes 4,690 7,468 9,306 12,146
Income tax expense 947 1,626 1,924 2,533
Net income 3,743 5,842 7,382 9,613
Less net (loss) income attributable to noncontrolling interest (3) (1) 58 (1)
Net income attributable to C&F Financial Corporation $ 3,746 $ 5,843 $ 7,324 $ 9,614
Net income per share - basic and diluted (in dollars per share) $ 1.03 $ 1.69 $ 2.01 $ 2.77