#United States #Columbus #stock buyback #CFBank

CF Bankshares Inc. Extends Its Stock Repurchase Program

CF Bankshares Inc. (NASDAQ: CFBK), the parent company of CFBank, has announced a significant extension of its stock repurchase program. Initially approved by the board on January 29, 2025, the program allows the company to buy back up to 325,000 shares, representing approximately 5% of its total outstanding common stock. The new deadline for these repurchases has been pushed to August 15, 2026.

As of now, CF Bankshares has successfully repurchased 54,644 shares under this program. The stock buyback initiative is designed to provide flexibility in managing the company’s equity and signaling to the market its confidence in the ongoing strength and stability of its business operations.

Under the program, repurchases may occur through various avenues including open market transactions or privately negotiated arrangements. All buybacks will be conducted in accordance with federal securities regulations, specifically adhering to Rule 10b-18 of the Securities Exchange Act of 1934. Ultimately, the total number of shares repurchased may vary based on numerous factors, including the traded price of CF Bankshares' stock, current market conditions, and overall corporate strategy.

Timothy T. O'Dell, President and CEO of CF Bankshares, commented on this extension, stating that the board's decision reflects their ongoing belief in the stock's value. O'Dell noted, “The extension of this repurchase program not only underscores our confidence in CF Bankshares' business model but also illustrates our commitment to enhancing shareholder value.”

This reaffirmation comes as part of the company’s broader strategy since its recapitalization in 2012 during the financial crisis. Since then, CFBank has positioned itself as a full-service commercial bank catering primarily to closely held businesses and entrepreneurs throughout key metropolitan markets such as Columbus, Cleveland, Cincinnati, Akron, and Indianapolis.

CFBank differentiates itself from much larger banks by offering customized service and direct access to decision-makers, allowing for quicker and more personalized banking solutions. The leadership team has focused on establishing a comprehensive service offering that includes commercial loans, equipment leasing, residential and commercial real estate loans, and treasury management services. With a robust average annual growth rate above 20% since its recapitalization, CF Bankshares has worked tirelessly to adapt to the needs of its local customer base while navigating the economic landscape.

The extension of the stock repurchase program, along with its successful operational strategies, positions CF Bankshares well in a competitive market. Stakeholders and potential investors will be watching closely as the company continues to assert its commitment to navigating the complexities of modern banking while prioritizing shareholder interests.

For further details about CF Bankshares and its operations, interested parties can visit the official website at www.CF.Bank.

Forward-Looking Statements

It's crucial to note that this communiqué includes forward-looking statements that are made in good faith based on current expectations and projections about the company's future performance. These statements can include forecasts of revenues, earnings, and other financial items, but they are subject to risks and uncertainties that could cause actual results to differ materially. CF Bankshares cautions that they assume the statements made herein are reasonable but vary significantly from real outcomes as market conditions and other variables evolve.

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