CF Bankshares reported a strong third quarter of 2026, with net income rising to $6.0 million compared to $2.3 million in the same period last year. The performance was driven by significant year-over-year expansion in net interest margin and robust commercial loan activity, despite higher noninterest expenses related to strategic hiring.
Key Highlights
- Net Interest Margin expanded to 2.96%, representing a 20 basis point increase from the third quarter of 2025 and a 3 basis point sequential improvement.
- Commercial loan fundings totaled $79 million for the quarter, contributing to a year-to-date funding total of $357 million and net commercial loan growth of $129 million.
- Customer fees, primarily from treasury management services, grew 32% year-to-date and 8% sequentially as the bank captures more full-service C&I relationships.
- Noninterest expense rose 13.4% year-over-year to $8.8 million, largely due to one-time recruiting fees and signing bonuses for new commercial banking teams.
- Asset quality remained stable with nonaccrual loans at 1.10% of total loans, while book value per share increased 10.5% year-over-year to $29.83.