CENTRAL FEDERAL CORP CFBK Income Statement

Central federal corp (CFBK)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest and dividend income
Loans and leases, including fees
9,752	9,588	8,588	8,112	7,490	6,992	6,380	5,616	4,867	4,543	4,225	4,040	3,679	3,611	3,658	3,502	3,279	3,063	3,073	3,044	2,946	2,938	2,848	2,402	2,122	1,928	1,822	1,734	1,596	1,479	1,656	1,769	1,891	2,042	2,165	2,350	2,442	2,863	3,074
Securities
43	42	45	43	42	46	49	47	43	44	44	47	48	36	29	30	30	31	31	34	35	33	38	42	44	44	52	43	60	52	45	58	63	43	68	156	155	154	172
FHLB and FRB stock dividends
44	49	51	53	54	51	50	48	47	46	45	41	22	20	19	19	20	20	19	19	20	20	19	19	20	19	21	20	21	23	20	21	22	20	20	21	22	22	21
Federal funds sold and other
107	134	161	297	355	205	142	156	147	136	83	56	108	80	28	19	29	21	16	16	17	20	14	15	17	33	36	37	34	47	41	41	40	43	38	41	30	18	15
Total interest and dividend income
9,946	9,813	8,845	8,505	7,941	7,294	6,621	5,867	5,104	4,769	4,397	4,184	3,857	3,747	3,734	3,570	3,358	3,135	3,139	3,113	3,018	3,011	2,919	2,478	2,203	2,024	1,931	1,834	1,711	1,601	1,762	1,889	2,016	2,148	2,291	2,568	2,649	3,057	3,282
Interest expense
Deposits
3,316	3,320	3,055	2,876	2,433	2,065	1,707	1,288	1,042	944	771	664	680	758	683	627	589	584	585	558	485	439	400	368	355	390	417	421	408	457	501	557	593	647	681	750	702	785	890
FHLB advances and other debt
260	203	206	144	151	191	163	165	92	68	68	66	61	64	69	63	58	58	59	58	57	50	41	26	45	78	79	77	76	77	78	81	109	111	111	141	167	172	170
Subordinated debentures
247	250	253	256	257	90	68	67	59	56	54	52	50	49	46	45	45	42	41	41	40	41	41	41	42	42	42	42	41	42	46	45	47	44	41	42	41	44	41
Total interest expense
3,823	3,773	3,514	3,276	2,841	2,346	1,938	1,520	1,193	1,068	893	782	791	871	798	735	692	684	685	657	582	530	482	435	442	510	538	540	525	576	625	683	749	802	833	933	910	1,001	1,101
Net interest income
6,123	6,040	5,331	5,229	5,100	4,948	4,683	4,347	3,911	3,701	3,504	3,402	3,066	2,876	2,936	2,835	2,666	2,451	2,454	2,456	2,436	2,481	2,437	2,043	1,761	1,514	1,393	1,294	1,186	1,025	1,137	1,206	1,267	1,346	1,458	1,635	1,739	2,056	2,181
Provision for loan and lease losses
-	-	-	-	-	-	-	-	-	-	0	0	0	0	20	160	50	-	50	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	75	75	-	75	108	20	-230	76	324	326	186	543	200	200	1,119	405	432	1,419	617	5,938
Net interest income after provision for loan and lease losses
6,123	6,040	5,331	5,229	5,100	4,948	4,683	4,347	3,911	3,701	3,504	3,402	3,066	2,876	2,916	2,675	2,616	2,401	2,404	2,381	2,361	2,406	2,362	1,935	1,741	1,744	1,317	970	860	839	594	1,006	1,067	227	1,053	1,203	320	1,439	-3,757
Noninterest income
Service charges on deposit accounts
151	-	-	-	124	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service charges on deposit accounts
-	-	146	138	-	-	128	118	118	-	106	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service charges on deposit accounts
-	-	-	-	-	-	-	-	-	-	-	95	89	129	241	198	173	132	127	116	116	104	99	106	103	105	92	83	73	65	63	58	59	72	69	69	61	81	74
Net gains on sales of loans
2,844	3,832	3,070	2,362	1,503	659	451	509	308	5	23	24	23	37	46	23	28	-32	64	209	84	180	207	132	17	-24	-1	107	6	123	146	92	43	72	158	24	40	244	181
Swap fee income
393	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan servicing fees, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6	5	8	-	1	4	8	5	2
Net loss on sales of securitites
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-12	-	-	-	-	-	-	-	-	-	-	143	-	-	-	-	-	-	-
Net gains on sales of securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	232	-	-	-	-
Net gains on sales of securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	228	-
Earnings on bank owned life insurance
36	36	37	35	34	36	34	35	33	35	33	34	33	34	33	33	33	34	33	33	32	33	33	32	32	32	33	33	32	34	33	32	33	34	31	33	32	28	33
Other
20	161	34	30	33	38	30	70	22	46	33	24	21	33	30	36	70	71	100	106	135	126	107	88	93	88	52	46	22	42	14	10	15	33	15	12	15	1	3
Total noninterest income
3,444	4,174	3,287	2,565	1,694	860	643	732	481	205	195	177	166	233	350	290	304	205	324	464	355	443	446	358	245	1,315	176	269	133	245	262	340	158	319	506	142	156	587	293
Noninterest expense
Salaries and employee benefits
3,045	3,161	2,865	2,643	2,501	2,173	2,116	2,013	1,897	1,624	1,544	1,492	1,414	1,355	1,283	1,175	1,152	1,149	1,167	1,217	1,220	1,114	1,177	1,051	1,103	1,026	970	961	892	949	1,013	953	991	2,973	-1,004	1,033	1,041	1,113	1,060
Occupancy and equipment
253	241	278	228	218	219	224	182	167	168	170	181	152	147	149	149	134	131	129	134	139	140	138	135	158	97	70	84	75	68	68	59	74	188	-64	69	85	47	45
Data processing
447	406	335	293	316	294	275	227	231	220	197	301	277	289	285	267	275	268	269	268	249	243	223	224	207	168	158	143	163	163	146	137	142	422	-142	145	144	150	164
Franchise and other taxes
179	136	106	106	106	37	103	103	102	102	88	85	91	93	89	88	88	78	79	81	80	64	51	49	50	83	84	85	85	53	65	46	55	186	-63	64	66	75	85
Professional fees
1,005	763	448	356	288	413	358	254	250	294	218	228	248	204	320	300	324	280	230	202	244	346	317	257	297	400	211	175	212	209	234	199	218	562	-177	258	301	305	272
Director fees
158	146	137	133	131	112	106	98	97	94	76	73	69	62	61	58	47	51	33	33	33	58	39	13	12	12	5	3	5	0	28	46	45	134	-44	45	46	45	26
Postage, printing and supplies
58	48	51	59	67	44	44	52	49	37	46	49	43	38	35	41	54	27	41	58	72	43	49	57	84	46	42	69	58	40	28	56	48	64	-20	39	48	24	43
Advertising and marketing
1,275	940	647	616	626	389	367	370	267	57	48	32	17	39	51	18	17	20	35	45	45	70	36	1	3	8	20	6	6	19	4	4	3	23	-10	14	10	30	27
Telephone
54	57	54	45	45	45	43	38	32	29	29	28	32	33	32	27	31	33	30	31	25	29	31	27	25	23	18	21	16	16	17	16	17	51	-17	18	22	28	27
Loan expenses
97	61	80	45	46	44	29	28	15	46	45	41	38	47	51	12	31	54	110	6	37	55	12	11	4	35	29	9	17	37	69	23	8	-	-9	-	-	-	-
Foreclosed assets, net
-	0	0	0	-9	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20	10	12	16
Foreclosed assets, net
-	-	-	-	-	-	-	-	-	0	0	11	7	16	0	16	33	45	18	28	46	80	167	70	11	67	-4	1	-19	-330	776	188	18	2,372	-2,370	1,152	33	-	1
Depreciation
86	85	82	78	71	60	67	62	59	58	49	50	51	52	52	54	53	54	53	52	52	53	57	70	52	44	54	53	54	54	54	62	67	259	-93	104	114	126	133
FDIC premiums
157	178	47	152	152	157	141	99	88	61	64	86	71	54	34	20	114	108	106	103	104	115	105	85	79	73	80	36	111	121	144	142	156	514	-177	175	175	170	101
Amortization of intangibles
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19	11	10	9	10	10	10	10	30	-10	10	10	10	10
Regulatory assessment
45	41	42	40	42	43	34	35	34	32	31	32	32	3	3	28	28	3	30	47	51	47	42	39	39	39	41	39	39	38	39	21	45	139	-46	38	37	37	-
Other insurance
27	27	25	24	23	23	22	19	22	22	21	23	26	25	26	27	31	30	30	31	30	31	30	33	36	38	37	36	37	37	36	38	42	126	-42	34	17	17	-
OTS assessment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23
Other
158	136	131	113	71	100	103	90	104	56	56	41	52	61	41	59	42	39	38	42	38	52	48	73	40	50	52	62	43	34	34	30	25	160	-76	44	31	31	66
Total noninterest expense
7,044	6,426	5,328	4,931	4,694	4,159	4,032	3,670	3,414	2,900	2,682	2,753	2,620	2,518	2,512	2,339	2,454	2,370	2,398	2,378	2,465	2,540	2,522	2,195	2,200	2,228	1,878	1,793	1,803	1,518	2,765	2,030	1,964	5,893	-1,994	3,262	2,190	2,220	2,099
Income before incomes taxes
2,523	3,788	3,290	2,863	2,100	1,649	1,294	1,409	978	1,006	1,017	826	612	591	754	626	466	236	330	467	251	-119	286	98	214	-831	385	554	810	434	1,909	684	739	-	-435	-	-	-194	-5,563
Income tax expense
517	765	673	583	419	353	239	279	186	1,305	332	270	208	207	249	204	150	-3,193	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-	-	38	-10
Net income
2,006	3,023	2,617	2,280	1,681	1,296	1,055	1,130	792	-299	685	556	404	384	505	422	316	3,429	330	467	251	309	286	98	-214	831	-385	-554	-810	-434	-1,909	-684	-739	-1,359	-435	-1,917	-1,714	-232	-5,553
Accretion of discount and value of warrants exercised related to Series B preferred stock
-	-	-36	-157	-26	-	26	12	26	23	214	215	214	214	214	215	214	214	214	215	214	-	174	59	-	-	-	-	-	-	107	111	110	108	107	106	104	103	102
Earnings allocated to participating securities (Series C preferred stock)
377	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discount on redemption of Series A preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,960	-	-	-	0	-	-	-	-
Net income attributable to common stockholders
1,629	-	2,653	2,437	1,707	-	1,029	1,118	766	-322	471	341	190	170	291	207	102	3,215	116	252	37	121	112	39	-214	831	-385	-554	-810	-434	2,944	-795	-849	-1,467	-542	-2,023	-1,818	-335	-5,655
Earnings per common share:
Basic
0.31	0.52	0.59	0.55	0.39	0.34	0.24	0.26	0.18	0.02	0.16	0.02	0.01	0.01	0.02	0.01	0.01	0.20	0.01	0.02	0.00	0.00	0.01	0.00	-0.01	0.05	-0.02	-0.04	-0.05	1.75	0.38	-0.96	-1.03	-1.78	-0.66	-2.45	-2.20	-0.08	-1.38
Diluted
0.30	0.50	0.59	0.55	0.39	0.34	0.24	0.25	0.17	0.01	0.15	0.02	0.01	0.01	0.02	0.01	0.01	0.17	0.01	0.02	0.00	0.00	0.01	0.00	-0.01	0.05	-0.02	-0.04	-0.05	1.75	0.38	-0.96	-1.03	-1.78	-0.66	-2.45	-2.20	-0.08	-1.38