CF BANKSHARES INC., PARENT OF CFBANK NA, REPORTS RESULTS FOR THE 3rd QUARTER 2026.

CF BANKSHARES INC., PARENT OF CFBANK NA, REPORTS RESULTS FOR THE 3rd QUARTER 2026. COLUMBUS, Ohio, Oct. 27, 2026 /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, 2026.

Third Quarter 2026 Highlights

Recent Developments

CEO and Board Chair Commentary

Timothy T. O'Dell, President and CEO, commented, "We had strong net income of $6.0 million for the third quarter, which was net of $551,000 of provision expense. Return on Equity (ROE) topped 12% at 12.22%, while our NIM expanded by 3 bps to 2.96%.

Ongoing Investments particularly with building our Commercial Banking Teams and expanding our Regional Metro Markets presence, are producing increasing Commercial Business banking opportunities throughout the Five (5) metro Marketplaces we serve in Ohio and Indiana.

As an example, our Commercial Banking Team has generated over $350 million in total new Commercial Loan Fundings year-to-date. Our Pipelines of Commercial Banking Loan and Deposits remain strong entering the fourth quarter. As our new producers fully hit their strides, we expect our business generation results and Team capabilities will continue to grow and expand.

Customer Fees, driven predominantly by Treasury Management Fees for Services, also have increased 32% year-to-date, up 8% compared to the prior quarterly results.

During 2026, we have expanded considerably the size and depth of our Commercial Banking Team, which we believe will continue to fuel increasing quality Commercial growth opportunities, along with improving business mix through capturing greater numbers of full-service Banking (C&I) relationships.

Additionally, we are gaining traction with expanding our Private Banking Customers & Product offerings to closely held business owners and entrepreneurs.

Also, we are investing in Mortgage Lending, mostly through adding high performing Mortgage Loan Originators along with Regional Sales Leaders, capable of building Local and Regionally based Mortgage Lending Teams.

Looking ahead, we expect our rate of Growth to continue accelerating. As we deploy more available capital to work into Loan relationships, we see enhanced Earnings growth opportunity.

Our Best is Yet Ahead!"

Robert E. Hoeweler, Chairman of the Board, added, "Our team has been able to perform at the highest level in very trying economic times. The results of the 3 rd quarter reflect the quality of the Management team we have been able to attract and keep. Our marching orders are to continue our profitable growth and build shareholder value. I wholehearted agree 'Our Best is Yet Ahead'!"

Overview of Results

Net income for the three months ended September 30, 2026 totaled $6.0 million (or $0.91 per diluted common share) compared to net income of $5.9 million (or $0.90 per diluted common share) for the three months ended June 30, 2026 and net income of $2.3 million (or $0.36 per diluted common share) for the three months ended September 30, 2025. PPNR for the three months ended September 30, 2026 was $7.9 million compared to PPNR of $8.2 million for the three months ended June 30, 2026 and PPNR of $7.8 million for the three months ended September 30, 2025.

Net income for the nine months ended September 30, 2026 totaled $17.0 million (or $2.59 per diluted common share) compared to net income of $11.8 million (or $1.81 per diluted common share) for the nine months ended September 30, 2025. PPNR for the nine months ended September 30, 2026 was $22.6 million compared to PPNR of $21.8 million for the nine months ended September 30, 2025.

Net Interest Income and Net Interest Margin

Net interest income totaled $14.9 million for the quarter ended September 30, 2026 and increased $105,000, or 0.7%, compared to $14.8 million for the prior quarter, and increased $1.1 million, or 8.4%, compared to $13.8 million for the third quarter of 2025.

The increase in net interest income compared to the prior quarter was primarily due to a $92,000, or 0.3%, increase in interest income, coupled with a $13,000, or 0.1%, decrease in interest expense. The increase in interest income was primarily attributed to a $37.4 million, or 2.1%, increase in average loans and leases, coupled with a 5bps increase in the average yield on interest-earning assets. The decrease in interest expense when compared to the prior quarter was attributed to a 7bps decrease in the average rate on interest-bearing liabilities, partially offset by a $26.8 million, or 1.7%, increase in average interest-bearing liabilities. The net interest margin of 2.96% for the quarter ended September 30, 2026 increased 3bps compared to the net interest margin of 2.93% for the prior quarter.

The increase in net interest income compared to the third quarter of 2025 was primarily due to a $1.4 million, or 8.5%, decrease in interest expense, partially offset by a $255,000, or 0.8%, decrease in interest income. The decrease in interest expense was primarily attributed to a 40bps decrease in the average rate on interest-bearing liabilities, partially offset by a $20.5 million, or 1.3%, increase in average interest-bearing liabilities. The decrease in interest income was primarily attributed to a 11bps decrease in the average yield on interest-earning assets, partially offset by a $17.7 million, or 0.9%, increase in average interest-earning assets outstanding. The net interest margin of 2.96% for the quarter ended September 30, 2026 increased 20bps compared to the net interest margin of 2.76% for the third quarter of 2025.

Noninterest Income

Noninterest income for the three months ended September 30, 2026 totaled $1.8 million and increased $58,000, or 3.4%, compared to $1.7 million for the prior quarter and increased $41,000, or 2.4%, compared to $1.7 million for the three months ended September 30, 2025.

The following table represents the notional amount of loans sold during the three months ended September 30, 2026, June 30, 2026, and September 30, 2025 (in thousands).

Three Months ended

September 30,

2026

June 30,

2026

September 30,

2025

Notional amount of loans sold

15,749

15,702

12,486

Noninterest Expense

Noninterest expense for the quarter ended September 30, 2026 totaled $8.8 million and increased $426,000, or 5.1%, compared to $8.3 million for the prior quarter, and increased $1.1 million, or 13.4%, compared to $7.7 million for the quarter ended September 30, 2025. The increase in noninterest expense when compared to the prior quarter was driven by a $264,000 increase in recruiting expenses related to the expansion of our Commercial Banking Teams across our Regional Markets. During the third quarter, one-time expenses included $111,000 in signing bonuses and $198,000 in recruiting fees.

The increase in noninterest expense when compared to the third quarter of 2025 was driven by a $751,000 increase in salaries and benefits, which was driven by the expansion of our Commercial Banking Teams across our Regional Markets.

Income Tax Expense

Income tax expense was $1.4 million for the quarter ended September 30, 2026 (effective tax rate of 18.4%), compared to $1.4 million for the prior quarter (effective tax rate of 18.6%) and $373,000 for the quarter ended September 30, 2025 (effective tax rate of 13.8%).

Loans and Leases

Gross loans and leases totaled $1.9 billion at September 30, 2026 and increased $39.3 million, or 2.2%, from the prior quarter and increased $100.8 million, or 5.7%, from December 31, 2025. The increase in loans and leases balances from the prior quarter was primarily due to a $31.9 million increase in commercial real estate loan balances, an $11.4 million increase in construction loan balances, and a $1.0 million increase in consumer loan balances, partially offset by a $4.1 million decrease in single-family residential loan balances and a $932,000 decrease in commercial and industrial (C&I) loan balances.

The increase in loans and leases balances when compared to December 31, 2025 was primarily due to a $101.9 million increase in commercial real estate loan balances, a $17.5 million increase in construction loan balances, and a $9.4 million increase in C&I loan balances, partially offset by a $25.5 million decrease in single-family residential loan balances and a $2.5 million decrease in consumer loan balances.

The following table presents the principal balance outstanding of loans and leases for certain non-owner-occupied loan types (in thousands).

September 30, 2026

June 30, 2026

Construction – 1-4 family*

12,856

14,210

Construction – Multi-family*

190,563

175,814

Construction – Non-residential*

22,139

24,641

Hotel/Motel

4,436

11,295

Industrial / Warehouse

89,837

85,307

Land/Land Development

41,707

37,447

Medical/Healthcare/Senior Housing

1,219

1,256

Multi-family

274,533

244,075

Office

29,846

39,295

Retail

130,747

124,978

Other

11,660

11,769

* CFBank possesses a core competency and deep expertise in Construction Lending. The construction lending business sector has produced many full banking relationships with proven developers with long successful track records.

Asset Quality

Nonaccrual loans were $20.4 million, or 1.10% of total loans, at September 30, 2026, a decrease of $478,000 from $20.8 million at June 30, 2026 and an increase of $5.0 million from $15.3 million at December 31, 2025. The increase in nonperforming loans when compared to December 31, 2025 included the addition of one non-core (non-customer) C&I loan for $5.0 million. Of the $20.4 million of nonaccrual loans at September 30, 2026, $4.8 million was guaranteed by the SBA.

Loans 30 days or more past due totaled $30.8 million at September 30, 2026, compared to $20.4 million at June 30, 2026 and $12.9 million at December 31, 2025. The increase in loans 30 days or more past due when compared to the previous quarter was primarily due to a $6.7 million C&I loan and a $5.9 million commercial real estate loan (one relationship). Subsequent to quarter end, both of these loans were brought current.

The allowance for credit losses on loans and leases totaled $19.0 million at September 30, 2026, compared to $19.4 million at June 30, 2026 and $17.7 million at December 31, 2025. The ratio of the allowance for credit losses on loans and leases to total loans and leases was 1.03% at September 30, 2026 compared to 1.07% at June 30, 2026 and 1.01% at December 31, 2025.

There was $551,000 in provision for credit losses expense for the quarter ended September 30, 2026, compared to $944,000 for the quarter ended June 30, 2026 and $5.1 million for the quarter ended September 30, 2025. Net charge-offs for the quarter ended September 30, 2026 totaled $966,000, compared to net recoveries of $106,000 for the prior quarter and net charge-offs of $7.1 million for the quarter ended September 30, 2025. Net charge-offs during the quarter ended September 30, 2026 were attributed to credits that had already been identified and fully reserved in previous quarters. As a result, these charge-offs had no impact on third quarter 2026 provision expense.

Deposits

Deposits totaled $1.9 billion at September 30, 2026, an increase of $28.5 million, or 1.6%, from June 30, 2026, and an increase of $76.5 million, or 4.3%, from December 31, 2025. The increase when compared to the prior quarter was primarily due to a $29.5 million increase in interest-bearing account balances, partially offset by a $922,000 decrease in noninterest-bearing account balances. The increase when compared to December 31, 2025 was primarily due to a $89.3 million increase in interest-bearing account balances, partially offset by a $12.8 million decrease in noninterest-bearing accounts balances.

At September 30, 2026, approximately 31.2% of our deposit balances exceeded the FDIC insurance limit of $250,000, as compared to approximately 32.0% at June 30, 2026 and approximately 29.5% at December 31, 2025.

Borrowings

FHLB advances and other debt totaled $99.2 million at September 30, 2026 and June 30, 2026 and $101.0 million at December 31, 2025.

Capital

Stockholders' equity totaled $199.5 million at September 30, 2026, an increase of $5.2 million, or 2.7%, when compared to $194.3 million at June 30, 2026, and an increase of $15.1 million, or 8.2%, from $184.4 million at December 31, 2025. The increase in total stockholders' equity during the three months ended September 30, 2026 was primarily attributed to net income, partially offset by $588,000 in dividend payments.

USE OF NON-GAAP FINANCIAL MEASURES

This earnings release contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Non-GAAP financial measures included in this earnings release include Pre-Provision, Pre-Tax Net Revenue (PPNR). PPNR is defined as net interest income plus total non-interest income, excluding net gains and losses, minus total non-interest expense. This measure is a non-GAAP financial measure because it excludes the provision for (recovery of) credit losses and all gains and losses included in net income. Management uses this "non-GAAP" financial measure in its analysis of the Company's performance and believes that this non-GAAP financial measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods and peers.

Disclosures of non-GAAP financial measures should not be viewed as substitutes for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure is included at the end of this earnings release under the heading "GAAP TO NON-GAAP RECONCILIATION."

About CF Bankshares Inc. and CFBank

CF Bankshares Inc. (the "Company") is a bank holding company that owns 100% of the stock of CFBank, National Association ("CFBank"). CFBank is a nationally chartered boutique Commercial bank operating primarily in Five (5) Major Metro Markets: Columbus, Cleveland, Cincinnati, and Akron Ohio, and Indianapolis, Indiana. The current Leadership Team and Board recapitalized the Company and CFBank in 2012 during the financial crisis, repositioning CFBank as a full-service Commercial Bank model.

CFBank focuses on serving the financial needs of closely held businesses and entrepreneurs, by providing a comprehensive Commercial, Retail, and Mortgage Lending services presence. In all regional markets, CFBank provides commercial loans and equipment leases, commercial and residential real estate loans and treasury management depository services, residential mortgage lending, and full-service commercial and retail banking services and products. CFBank is differentiated by our penchant for individualized service coupled with direct customer access to decision-makers, and ease of doing business. CFBank matches the sophistication of much larger banks, without the bureaucracy.

Additional information about the Company and CFBank is available at www.CF.Bank

FORWARD LOOKING STATEMENTS

This press release and other materials we have filed or may file with the Securities and Exchange Commission ("SEC") contain or may contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Reform Act of 1995, which are made in good faith by us. Forward-looking statements include, but are not limited to: (1) projections of revenues, income or loss, earnings or loss per common share, capital structure and other financial items; (2) plans and objectives of the management or Boards of Directors of the Company or CFBank; (3) statements regarding future events, actions or economic performance; and (4) statements of assumptions underlying such statements. Words such as "estimate," "strategy," "may," "believe," "anticipate," "expect," "predict," "will," "intend," "plan," "targeted," and the negative of these terms, or similar expressions, are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Various risks and uncertainties may cause actual results to differ materially from those indicated by our forward-looking statements, including, without limitation, those risks detailed from time to time in our reports filed with the SEC, including those risk factors identified in "Item 1A. Risk Factors" of Part I of our Annual Report on Form 10-K filed with SEC for the year ended December 31, 2025.

Forward-looking statements are not guarantees of performance or results. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable. We caution you, however, that assumptions or bases almost always vary from actual results, and the differences between assumptions or bases and actual results can be material. The forward-looking statements included in this press release speak only as of the date hereof. We undertake no obligation to publicly release revisions to any forward-looking statements to reflect events or circumstances after the date of such statements, except to the extent required by law.

Consolidated Statements of Income

($ in thousands, except share data)

(unaudited)

Three months ended

Nine months ended

September 30,

2026

2025

% change

2026

2025

% change

Total interest income

30,114

30,369

-1

88,266

89,928

-2

Total interest expense

15,165

16,579

-9

45,153

49,228

-8

Net interest income

14,949

13,790

43,113

40,700

Provision for credit losses

Provision for credit losses-loans

575

4,818

-88

2,243

6,540

-66

Provision for (recovery of) credit losses-unfunded

commitments

(24)

251

-110

(144)

538

-127

551

5,069

-89

2,099

7,078

-70

Net interest income after provision for credit losses

14,398

8,721

41,014

33,622

Noninterest income

Service charges on deposit accounts

988

696

2,744

2,084

Net gain on sales of residential mortgage loans

172

209

-18

467

529

-12

Net loss on sales of commercial loans

—

n/m

—

(18)

n/m

Net loss on sale of equity security

—

n/m

—

(103)

n/m

Swap fee income

143

228

-37

387

424

-9

Other

456

585

-22

1,349

1,588

-15

Noninterest income

1,759

1,718

4,947

4,504

Noninterest expense

Salaries and employee benefits

4,551

3,800

13,204

11,937

Occupancy and equipment

411

444

-7

1,236

1,295

-5

Data processing

904

709

2,449

2,066

Franchise and other taxes

386

303

1,157

910

Professional fees

994

828

2,662

2,514

Director fees

195

187

555

544

Postage, printing, and supplies

113

118

-4

Advertising and marketing

133

130

596

258

131

Telephone

-12

127

141

-10

Loan expenses

201

605

722

-16

Foreclosed assets, net

-90

-57

Depreciation

104

116

-10

345

352

-2

FDIC premiums

408

506

-19

1,229

1,586

-23

Regulatory assessment

136

162

-16

Other insurance

167

145

Impairment of property and equipment

—

n/m

128

—

n/m

Other

264

344

-23

698

670

Noninterest expense

8,764

7,726

25,413

23,434

Income before income taxes

7,393

2,713

173

20,548

14,692

Income tax expense

1,360

373

265

3,579

2,887

Net income

6,033

2,340

158

16,969

11,805

Earnings allocated to participating securities (Series

D preferred stock)

(109)

(72)

n/m

(448)

(364)

n/m

Net Income attributable to common stockholders

5,924

2,268

161

16,521

11,441

Share Data

Basic earnings per common share

0.92

0.36

2.61

1.82

Diluted earnings per common share

0.91

0.36

2.59

1.81

Average common shares outstanding - basic

6,408,370

6,292,698

6,338,857

6,292,950

Average common shares outstanding - diluted

6,475,440

6,346,243

6,382,801

6,325,600

n/m - not meaningful

Consolidated Statements of Financial Condition

($ in thousands)

Sept 30,

Jun 30,

Mar 31,

Dec 31,

Sept 30,

(unaudited)

2026

2025

Assets

Cash and cash equivalents

248,596

253,103

267,759

258,972

272,361

Interest-bearing deposits in other financial institutions

100

Securities available for sale

16,532

17,223

17,395

17,496

9,199

Loans held for sale

2,431

4,392

3,634

5,611

2,484

Loans and leases

1,857,338

1,818,020

1,779,903

1,756,532

1,745,125

Less allowance for credit losses on loans and leases

(19,045)

(19,436)

(18,641)

(17,678)

(16,841)

Loans and leases, net

1,838,293

1,798,584

1,761,262

1,738,854

1,728,284

FHLB and FRB stock

8,389

8,375

8,364

8,354

8,343

Foreclosed assets, net

—

Premises and equipment, net

3,260

3,372

3,533

3,547

3,616

Operating lease right of use assets

5,531

5,693

5,859

5,680

5,848

Bank owned life insurance

28,803

28,546

28,294

28,049

27,810

Accrued interest receivable and other assets

60,265

50,198

49,576

50,658

52,972

Total assets

2,212,200

2,169,586

2,145,776

2,117,321

2,111,017

Liabilities and Stockholders' Equity

Deposits

Noninterest bearing

272,703

273,625

240,645

285,523

277,629

Interest bearing

1,584,481

1,555,031

1,568,797

1,495,166

1,500,977

Total deposits

1,857,184

1,828,656

1,809,442

1,780,689

1,778,606

FHLB advances and other debt

99,240

99,231

100,973

100,964

100,956

Advances by borrowers for taxes and insurance

1,472

2,354

1,292

2,523

1,479

Operating lease liabilities

5,766

5,917

6,071

5,878

6,033

Accrued interest payable and other liabilities

33,936

24,034

23,995

27,802

29,623

Subordinated debentures

15,068

15,058

15,048

15,039

15,029

Total liabilities

2,012,666

1,975,250

1,956,821

1,932,895

1,931,726

Stockholders' equity

199,534

194,336

188,955

184,426

179,291

Total liabilities and stockholders' equity

2,212,200

2,169,586

2,145,776

2,117,321

2,111,017

Average Balance Sheet and Yield Analysis

For Three Months Ended

September 30, 2026

June 30, 2026

September 30, 2025

Average

Interest

Average

Interest

Average

Interest

Average

Outstanding

Earned/

Yield/

Outstanding

Earned/

Yield/

Outstanding

Earned/

Yield/

Balance

Paid

Rate

Balance

Paid

Rate

Balance

Paid

Rate

(Dollars in thousands)

Interest-earning assets:

Securities (1) (2)

17,143

156

3.23 %

17,396

175

3.62 %

8,999

2.00 %

Loans and leases and loans

held for sale (3)

1,801,881

28,045

6.23 %

1,764,433

27,510

6.24 %

1,734,706

27,407

6.32 %

Other earning assets

187,477

1,774

3.78 %

236,107

2,196

3.72 %

245,301

2,753

4.49 %

FHLB and FRB stock

8,383

139

6.63 %

8,368

141

6.74 %

8,214

154

7.50 %

Total interest-earning

assets

2,014,884

30,114

5.97 %

2,026,304

30,022

5.92 %

1,997,220

30,369

6.08 %

Noninterest-earning assets

103,567

102,344

103,828

Total assets

2,118,451

2,128,648

2,101,048

Interest-bearing liabilities:

Deposits

1,515,289

13,753

3.63 %

1,487,547

13,812

3.71 %

1,493,145

15,205

4.07 %

FHLB advances and other

borrowings

114,299

1,412

4.94 %

115,223

1,366

4.74 %

115,978

1,374

4.74 %

Total interest-bearing

liabilities

1,629,588

15,165

3.72 %

1,602,770

15,178

3.79 %

1,609,123

16,579

4.12 %

Noninterest-bearing

liabilities

291,386

333,819

312,058

Total liabilities

1,920,974

1,936,589

1,921,181

Equity

197,477

192,059

179,867

Total liabilities and

equity

2,118,451

2,128,648

2,101,048

Net interest-earning assets

385,296

423,534

388,097

Net interest income/interest

rate spread

14,949

2.25 %

14,844

2.13 %

13,790

1.96 %

Net interest margin

2.96 %

2.93 %

2.76 %

Average interest-earning

assets

to average interest-bearing

liabilities

123.64 %

126.43 %

124.12 %

(1)

Average balance is computed using the carrying value of securities. Average yield is computed using the historical amortized cost average balance for available for sale securities.

(2)

Average yields and interest earned are stated on a fully taxable equivalent basis.

(3)

Average balance is computed using the recorded investment in loans net of the allowance for credit losses on loans and leases and includes nonperforming loans and leases.

Consolidated Financial Highlights

At or for the three months ended

Nine months ended

($ in thousands except per share data)

Sept 30,

Jun 30,

Mar 31,

Dec 31,

Sept 30,

(unaudited)

2026

2025

2026

2025

Earnings and Dividends

Net interest income

14,949

14,844

13,320

14,323

13,790

43,113

40,700

Provision for credit losses

551

944

604

1,169

5,069

2,099

7,078

Noninterest income

1,759

1,701

1,487

1,423

1,718

4,947

4,504

Noninterest expense

8,764

8,338

8,311

7,742

7,726

25,413

23,434

Net income

6,033

5,912

5,024

5,736

2,340

16,969

11,805

Basic earnings per common share

0.92

0.91

0.77

0.88

0.36

2.61

1.82

Diluted earnings per common share

0.91

0.90

0.77

0.88

0.36

2.59

1.81

Dividends declared per share

0.09

0.08

0.27

0.22

Performance Ratios (annualized)

Return on average assets

1.14

1.11

0.97

1.09

0.45

1.07

0.76

Return on average equity

12.22

12.31

10.74

12.59

5.20

11.77

8.97

Average yield on interest-earning assets

5.97

5.92

5.67

5.98

6.08

5.86

6.06

Average rate paid on interest-bearing

liabilities

3.72

3.79

3.64

3.91

4.12

3.67

4.14

Average interest rate spread

2.25

2.13

2.03

2.07

1.96

2.19

1.92

Net interest margin, fully taxable

equivalent

2.96

2.93

2.69

2.85

2.76

2.86

2.74

Efficiency ratio (3)

52.45

50.40

56.13

49.17

49.82

52.88

51.84

Noninterest expense to average assets

1.65

1.57

1.60

1.47

1.61

1.50

Capital

Tier 1 capital leverage ratio (1)

11.99

11.64

11.76

11.40

11.19

11.99

11.19

Total risk-based capital ratio (1)

14.69

14.76

15.15

15.02

14.88

14.69

14.88

Tier 1 risk-based capital ratio (1)

13.54

13.55

13.95

13.85

13.74

13.54

13.74

Common equity tier 1 capital to risk

weighted assets (1)

13.54

13.55

13.95

13.85

13.74

13.54

13.74

Equity to total assets at end of period

9.02

8.96

8.81

8.71

8.49

9.02

8.49

Book value per common share

29.83

29.04

28.20

27.87

26.99

29.83

26.99

Tangible book value per common share

(2)

29.83

29.04

28.20

27.87

26.99

29.83

26.99

Period-end market value per common

33.92

32.77

27.91

24.95

23.95

33.92

23.95

Period-end common shares outstanding

6,689,655

6,492,212

6,499,617

6,418,349

6,443,775

6,689,655

6,443,775

Average basic common shares

outstanding

6,408,370

6,320,561

6,286,297

6,281,531

6,292,698

6,338,857

6,292,950

Average diluted common shares

outstanding

6,475,440

6,363,549

6,308,071

6,350,488

6,346,243

6,382,801

6,325,600

Asset Quality

Nonperforming loans

20,357

20,835

20,313

15,329

10,034

20,357

10,034

Nonperforming loans to total loans

1.10

1.15

1.14

0.87

0.57

1.10

0.57

Nonperforming assets to total assets

0.92

0.96

0.95

0.72

0.48

0.92

0.48

Allowance for credit losses on loans

and leases to total loans and leases

1.03

1.07

1.05

1.01

0.97

1.03

0.97

Allowance for credit losses on loans

and leases to nonperforming loans and

leases

93.56

93.29

91.77

115.32

167.84

93.56

167.84

Net charge-offs (recoveries)

966

(106

)

131

7,099

876

7,173

Annualized net charge-offs (recoveries)

to average loans

0.21

(0.02

0.00

0.03

1.62

0.07

0.54

Average Balances

Loans

1,817,199

1,778,891

1,753,016

1,739,982

1,750,950

1,783,270

1,763,500

Assets

2,118,451

2,128,648

2,081,641

2,110,826

2,101,048

2,109,715

2,076,518

Stockholders' equity

197,477

192,059

187,177

182,312

179,867

192,276

175,469

(1)

Regulatory capital ratios of CFBank

(2)

There are no differences between book value per common share and tangible book value per common share since the Company does not have any intangible assets.

(3)

The efficiency ratio equals noninterest expense (excluding amortization of intangibles and foreclosed asset writedowns) divided by net interest income plus noninterest income (excluding gains or losses on securities transactions).

GAAP TO NON-GAAP RECONCILIATION

The following non-GAAP financial measure used by the Company provides information useful to investors in understanding the Company's operating performance and trends and facilitates comparisons with the performance of peers. The following table summarizes the non-GAAP financial measure derived from amounts reported in the Company's consolidated financial statements:

Pre-provision, pre-tax net revenue ("PPNR")

Three Months Ended

Nine months ended

September 30,

June 30,

September 30,

2026

2025

2026

2025

Net income

6,033

5,912

2,340

16,969

11,805

Add: Provision for credit losses

551

944

5,069

2,099

7,078

Add: Income tax expense

1,360

1,351

373

3,579

2,887

Pre-provision, pre-tax net revenue

7,944

8,207

7,782

22,647

21,770

SOURCE CF BANKSHARES INC.