C&F Financial (CFFI) 10-Q4 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2024	Oct. 31, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	000-23423
Entity Registrant Name	C & F FINANCIAL CORPORATION
Entity Incorporation, State or Country Code	VA
Entity Address, Address Line One	3600 La Grange Parkway
Entity Tax Identification Number	54-1680165
Entity Address, City or Town	Toano
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23168
City Area Code	804
Local Phone Number	843-2360
Title of 12(b) Security	Common Stock, $1.00 par value per share
Trading Symbol	CFFI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,225,409
Entity Central Index Key	0000913341
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash and due from banks	$ 16,686	$ 16,382
Interest-bearing deposits in other banks	32,507	58,777
Total cash and cash equivalents	49,193	75,159
Securities-available for sale at fair value, amortized cost of $430,793 and $494,092, respectively	409,045	462,444
Loans held for sale, at fair value	44,677	14,176
Loans, net of allowance for credit losses of $40,771 and $39,651, respectively	1,868,638	1,702,488
Restricted stock, at cost	4,542	2,925
Corporate premises and equipment, net	42,128	41,914
Other real estate owned	296
Accrued interest receivable	10,198	10,398
Goodwill	25,191	25,191
Other intangible assets, net	1,211	1,407
Bank-owned life insurance	21,827	21,464
Net deferred tax asset	16,871	18,731
Other assets	57,087	62,201
Total assets	2,550,904	2,438,498
Deposits
Noninterest-bearing demand deposits	541,621	549,367
Savings and interest-bearing demand deposits	783,419	843,564
Time deposits	810,851	673,199
Total deposits	2,135,891	2,066,130
Short-term borrowings	48,643	58,223
Long-term borrowings	68,235	25,894
Trust preferred capital notes	25,448	25,422
Accrued interest payable	3,967	3,493
Other liabilities	40,762	41,820
Total liabilities	2,322,946	2,220,982
Commitments and contingent liabilities (Note 11)
Equity
Common stock ($1.00 par value, 8,000,000 shares authorized, 3,234,363 and 3,374,098 shares issued and outstanding, respectively, includes 120,173 and 135,694 of unvested shares, respectively)	3,114	3,238
Additional paid-in capital	499	6,567
Retained earnings	243,194	233,760
Accumulated other comprehensive loss, net	(19,467)	(26,687)
Equity attributable to C&F Financial Corporation	227,340	216,878
Noncontrolling interest	618	638
Total equity	227,958	217,516
Total liabilities and equity	$ 2,550,904	$ 2,438,498

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
C&F FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited)
Available-for-sale securities, amortized cost	$ 430,793	$ 494,092
Allowance for credit losses	$ 40,771	$ 39,651
Common stock par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	8,000,000	8,000,000
Common stock, shares issued	3,234,363	3,374,098
Common stock, shares outstanding	3,234,363	3,374,098
Common stock, unvested shares	120,173	135,694

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest income
Interest and fees on loans	$ 33,021	$ 28,369	$ 94,014	$ 81,845
Interest on interest-bearing deposits and federal funds sold	389	379	811	836
Interest and dividends on securities
U.S. treasury, government agencies and corporations	334	795	1,370	2,785
Mortgage-backed securities	994	902	2,807	2,782
Tax-exempt obligations of states and political subdivisions	893	731	2,661	2,031
Taxable obligations of states and political subdivisions	183	178	551	545
Corporate and other	317	332	937	905
Total interest income	36,131	31,686	103,151	91,729
Interest expense
Savings and interest-bearing deposits	1,667	1,316	4,831	3,790
Time deposits	8,524	4,316	23,140	9,447
Borrowings	878	1,291	2,540	3,837
Trust preferred capital notes	373	301	965	890
Total interest expense	11,442	7,224	31,476	17,964
Net interest income	24,689	24,462	71,675	73,765
Provision for credit losses	3,700	2,050	9,750	5,800
Net interest income after provision for credit losses	20,989	22,412	61,925	67,965
Noninterest income
Gains on sales of loans	1,825	1,220	4,814	4,930
Interchange income	1,571	1,558	4,618	4,658
Service charges on deposit accounts	1,122	1,122	3,219	3,241
Investment income from other equity interests	334	211	671	480
Mortgage banking fee income	650	558	1,751	1,695
Wealth management services income, net	757	630	2,202	1,855
Mortgage lender services income	486	537	1,488	1,567
Other service charges and fees	542	364	1,361	1,134
Net losses on sales, maturities and calls of available for sale securities				(5)
Other income, net	1,485	14	3,464	2,257
Total noninterest income	8,772	6,214	23,588	21,812
Noninterest expenses
Salaries and employee benefits	13,921	12,921	41,625	40,841
Occupancy	2,091	1,944	6,286	5,975
Data processing	2,893	2,567	8,685	7,863
Professional fees	868	707	2,667	2,096
Insurance expense	415	414	1,230	1,203
Marketing and advertising expenses	460	361	944	1,172
Mortgage banking loan processing expenses	244	272	678	854
Other	2,199	2,340	6,499	6,806
Total noninterest expenses	23,091	21,526	68,614	66,810
Income before income taxes	6,670	7,100	16,899	22,967
Income tax expense	1,250	1,323	3,010	4,309
Net income	5,420	5,777	13,889	18,658
Less net income (loss) attributable to noncontrolling interest	31	(12)	92	122
Net income attributable to C&F Financial Corporation	$ 5,389	$ 5,789	$ 13,797	$ 18,536
Net income per share - basic (in dollars per share)	$ 1.65	$ 1.71	$ 4.15	$ 5.41
Net income per share - diluted (in dollars per share)	$ 1.65	$ 1.71	$ 4.15	$ 5.41

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Net income	$ 5,420	$ 5,777	$ 13,889	$ 18,658
Other comprehensive income (loss), net of tax:
Securities available for sale	8,258	(5,821)	7,821	(4,272)
Defined benefit plan	16	20	32	61
Cash flow hedges	(642)	133	(633)	95
Other comprehensive income (loss), net of tax	7,632	(5,668)	7,220	(4,116)
Comprehensive income	13,052	109	21,109	14,542
Less comprehensive income (loss) attributable to noncontrolling interest	31	(12)	92	122
Comprehensive income attributable to C&F Financial Corporation	$ 13,021	$ 121	$ 21,017	$ 14,420

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid - In Capital	Retained Earnings Adjustment	Retained Earnings	Accumulated Other Comprehensive Loss, Net	Noncontrolling Interest	Adjustment	Total
Change in stockholders' equity
Adoption of new accounting standard	$ 3,331	$ 12,047	$ (1,072)	$ 217,214	$ (36,958)	$ 599	$ (1,072)	$ 196,233
Balance, beginning of the period at Dec. 31, 2022	3,331	12,047	$ (1,072)	217,214	(36,958)	599	$ (1,072)	196,233
Comprehensive loss:
Net income				18,536		122		18,658
Other comprehensive income (loss)					(4,116)			(4,116)
Share-based compensation		1,508						1,508
Restricted stock vested	30	(30)
Common stock issued	3	142						145
Common stock purchased	(115)	(6,248)						(6,363)
Cash dividends declared				(4,510)				(4,510)
Distributions to noncontrolling interest						(103)		(103)
Balance, end of period at Sep. 30, 2023	3,249	7,419		230,168	(41,074)	618		200,380
Change in stockholders' equity
Adoption of new accounting standard	3,269	8,168		225,867	(35,406)	630		202,528
Balance, beginning of the period at Jun. 30, 2023	3,269	8,168		225,867	(35,406)	630		202,528
Comprehensive loss:
Net income				5,789		(12)		5,777
Other comprehensive income (loss)					(5,668)			(5,668)
Share-based compensation		581						581
Restricted stock vested	4	(4)
Common stock issued	2	47						49
Common stock purchased	(26)	(1,373)						(1,399)
Cash dividends declared				(1,488)				(1,488)
Balance, end of period at Sep. 30, 2023	3,249	7,419		230,168	(41,074)	618		200,380
Change in stockholders' equity
Adoption of new accounting standard	3,249	7,419		230,168	(41,074)	618		200,380
Adoption of new accounting standard	3,238	6,567		233,760	(26,687)	638		217,516
Balance, beginning of the period at Dec. 31, 2023	3,238	6,567		233,760	(26,687)	638		217,516
Comprehensive loss:
Net income				13,797		92		13,889
Other comprehensive income (loss)					7,220			7,220
Share-based compensation		1,458						1,458
Restricted stock vested	32	(32)
Common stock issued	3	139						142
Common stock purchased	(159)	(7,633)						(7,792)
Cash dividends declared				(4,363)				(4,363)
Distributions to noncontrolling interest						(112)		(112)
Balance, end of period at Sep. 30, 2024	3,114	499		243,194	(19,467)	618		227,958
Change in stockholders' equity
Adoption of new accounting standard	3,174	3,157		239,231	(27,099)	636		219,099
Balance, beginning of the period at Jun. 30, 2024	3,174	3,157		239,231	(27,099)	636		219,099
Comprehensive loss:
Net income				5,389		31		5,420
Other comprehensive income (loss)					7,632			7,632
Share-based compensation		485						485
Common stock issued	1	45						46
Common stock purchased	(61)	(3,188)						(3,249)
Cash dividends declared				(1,426)				(1,426)
Distributions to noncontrolling interest						(49)		(49)
Balance, end of period at Sep. 30, 2024	3,114	499		243,194	(19,467)	618		227,958
Change in stockholders' equity
Adoption of new accounting standard	$ 3,114	$ 499		$ 243,194	$ (19,467)	$ 618		$ 227,958

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
CONSOLIDATED STATEMENTS OF EQUITY (Unaudited)
Cash dividends declared (in dollars per share)	$ 0.44	$ 0.44	$ 1.32	$ 1.32

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net income	$ 13,889	$ 18,658
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	9,750	5,800
Accretion of certain acquisition-related discounts, net	(464)	(632)
Share-based compensation	1,458	1,508
Depreciation and amortization	2,841	2,919
Amortization of premiums and accretion of discounts on securities, net	1,068	1,041
Reversal of provision for indemnifications	(375)	(435)
Income from bank-owned life insurance	(326)	(299)
Pension expense	667	692
Proceeds from sales of loans held for sale	371,258	394,106
Origination of loans held for sale	(396,718)	(400,559)
Gains on sales of loans held for sale	(4,814)	(4,930)
Other gains, net	(207)	184
Change in other assets and liabilities:
Accrued interest receivable	200	(1,057)
Other assets	4,483	1,713
Accrued interest payable	474	2,238
Other liabilities	(190)	890
Net cash provided by operating activities	2,994	21,837
Investing activities:
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities	89,240	75,560
Purchases of securities available for sale	(27,009)	(30,075)
Purchases of time deposits, net	734	(253)
Repayments on loans held for investment by non-bank affiliates	125,399	121,257
Purchases of loans held for investment by non-bank affiliates	(136,459)	(124,340)
Net increase in community banking loans held for investment	(164,176)	(84,113)
Purchases of corporate premises and equipment	(3,056)	(1,019)
Other investing activities, net	(1,377)	(3,675)
Net cash used in investing activities	(116,704)	(46,658)
Financing activities:
Net decrease in demand and savings deposits	(67,891)	(191,426)
Net increase in time deposits	137,652	215,995
Net (decrease) increase in short-term borrowings	(9,580)	59,068
Proceeds from long-term borrowings	40,000
Repayments of long-term borrowings		(4,000)
Repurchases of common stock	(7,792)	(6,363)
Cash dividends paid	(4,363)	(4,510)
Other financing activities, net	(282)	(92)
Net cash provided by financing activities	87,744	68,672
Net (decrease) increase in cash and cash equivalents	(25,966)	43,851
Cash and cash equivalents at beginning of period	75,159	26,661
Cash and cash equivalents at end of period	49,193	70,512
Supplemental cash flow disclosures:
Interest paid	30,976	15,707
Income taxes paid	22	3,545
Supplemental disclosure of noncash investing and financing activities:
Transfers from corporate premises and equipment to other real estate owned	296
Adoption of new accounting standard		1,072
Liabilities assumed to acquire right of use assets at lease commencement	$ 2,730	$ 181

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2024
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	NOTE 1: Summary of Significant Accounting Policies Principles of Consolidation: The unaudited consolidated financial statements include the accounts of C&F Financial Corporation (the Corporation), its direct wholly-owned subsidiary, Citizens and Farmers Bank (the Bank or C&F Bank) and indirect subsidiaries that are wholly-owned or controlled. Subsidiaries that are less than wholly owned are fully consolidated if they are controlled by the Corporation or one of its subsidiaries, and the portion of any subsidiary not owned by the Corporation is reported as noncontrolling interest. All significant intercompany accounts and transactions have been eliminated in consolidation. In addition, the Corporation owns all of the common stock of C&F Financial Statutory Trust I, C&F Financial Statutory Trust II and Central Virginia Bankshares Statutory Trust I, all of which are unconsolidated subsidiaries. The subordinated debt owed to these trusts is reported as liabilities of the Corporation. Nature of Operations: C&F Bank has five wholly-owned subsidiaries: C&F Mortgage Corporation (C&F Mortgage), C&F Finance Company (C&F Finance), C&F Wealth Management Corporation (C&F Wealth Management), C&F Insurance Services, Inc. (C&F Insurance) and CVB Title Services, Inc. (CVB Title), all incorporated under the laws of the Commonwealth of Virginia. C&F Mortgage, organized in September 1995, originates and sells residential mortgages, provides mortgage loan origination services to third-party lenders and, through its subsidiary Certified Appraisals LLC, provides ancillary mortgage loan production services for residential appraisals. C&F Mortgage owns a 51 percent interest in C&F Select LLC, which was organized in January 2019 and is also engaged in the business of originating and selling residential mortgages. C&F Finance, acquired in September 2002, is a finance company purchasing automobile, marine and recreational vehicle (RV) loans through indirect lending programs. C&F Wealth Management, organized in April 1995, is a full-service brokerage firm offering a comprehensive range of wealth management services and insurance products through third-party service providers. C&F Insurance and CVB Title were organized for the primary purpose of owning equity interests in an independent insurance agency and a full service title and settlement agency, respectively. Business segment data is presented in Note 10. Basis of Presentation: Reclassification: Derivative Financial Instruments: other asset other liability Recent Significant Accounting Pronouncements: In November 2023, FASB issued ASU 2023-09, “Income Taxes (Topic 740) – Improvements to Income Tax Disclosures.” The amendments in ASU 2023-09 require that a public entity disclose, on an annual basis, specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold, the amount of income taxes paid disaggregated by federal, state and foreign taxes, and the amount of income taxes paid disaggregated by individual jurisdictions in which income taxes paid is equal to or granter than five percent of total income taxes paid. The amendments also require that entities disclose income from continuing operations before income tax expense disaggregated between domestic and foreign, as well as income tax expense from continuing operations disaggregated by federal, state and foreign. The amendments apply to all public entities that are subject to Topic 740, “Income Taxes,” and are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments are to be applied on a prospective basis; however, retrospective application is permitted. The Corporation does not expect the adoption of ASU 2023-09 to have a material effect on its consolidated financial statements. Other accounting standards that have been issued by the FASB or other standards-setting bodies are not currently expected to have a material effect on the Corporation’s financial position, results of operations or cash flows.

Securities

Securities	9 Months Ended
Securities	Sep. 30, 2024
Securities
Securities	NOTE 2: Securities The Corporation’s debt securities, all of which are classified as available for sale, are summarized as follows: September 30, 2024 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value U.S. Treasury securities $ 10,977 $ — $ (293) $ 10,684 U.S. government agencies and corporations 70,396 — (6,727) 63,669 Mortgage-backed securities 177,376 1,022 (11,421) 166,977 Obligations of states and political subdivisions 148,636 1,830 (3,290) 147,176 Corporate and other debt securities 23,408 4 (2,873) 20,539 $ 430,793 $ 2,856 $ (24,604) $ 409,045 December 31, 2023 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value U.S. Treasury securities $ 45,883 $ — $ (780) $ 45,103 U.S. government agencies and corporations 96,407 — (9,313) 87,094 Mortgage-backed securities 177,734 185 (16,223) 161,696 Obligations of states and political subdivisions 148,875 2,280 (4,044) 147,111 Corporate and other debt securities 25,193 — (3,753) 21,440 $ 494,092 $ 2,465 $ (34,113) $ 462,444 The amortized cost and estimated fair value of securities at September 30, 2024, by the earlier of contractual maturity or expected maturity, are shown below. The Corporation has elected to exclude accrued interest receivable, totaling $2.27 million at September 30, 2024, from the amortized cost basis of securities. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties. September 30, 2024 Amortized (Dollars in thousands) Cost Fair Value Due in one year or less $ 71,087 $ 69,053 Due after one year through five years 175,996 164,747 Due after five years through ten years 117,701 110,577 Due after ten years 66,009 64,668 $ 430,793 $ 409,045 The following table presents the gross realized gains and losses on and the proceeds from the sales, maturities and calls of securities. During the three and nine months ended September 30, 2024 and 2023 there were no sales of securities. Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Realized gains from sales, maturities and calls of securities: Gross realized gains $ — $ — $ — $ — Gross realized losses — — — (5) Net realized losses $ — $ — $ — $ (5) Proceeds from sales, maturities, calls and paydowns of securities $ 16,344 $ 30,719 $ 89,240 $ 75,560 The Corporation pledges securities primarily to secure municipal deposits, repurchase agreements and lines of credit that provide liquidity to the Corporation and C&F Bank. Securities with an aggregate amortized cost of $183.10 million and an aggregate fair value of $170.80 million were pledged at September 30, 2024. Securities with an aggregate amortized cost of $215.97 million and an aggregate fair value of $198.85 million were pledged at December 31, 2023. Securities in an unrealized loss position at September 30, 2024, by duration of the period of the unrealized loss, are shown below. Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss U.S. Treasury securities $ — $ — $ 10,684 $ 293 $ 10,684 $ 293 U.S. government agencies and corporations — — 63,669 6,727 63,669 6,727 Mortgage-backed securities 2,615 27 132,043 11,394 134,658 11,421 Obligations of states and political subdivisions 9,484 60 62,583 3,230 72,067 3,290 Corporate and other debt securities 484 16 19,051 2,857 19,535 2,873 Total $ 12,583 $ 103 $ 288,030 $ 24,501 $ 300,613 $ 24,604 There were 465 debt securities with a fair value below the amortized cost basis, totaling $300.61 million of aggregate fair value as of September 30, 2024. The Corporation concluded that a credit loss did not exist in its securities portfolio at September 30, 2024, and no impairment loss has been recognized based on the fact that (1) changes in fair value were caused primarily by fluctuations in interest rates, (2) securities with unrealized losses had generally high credit quality, (3) the Corporation intends to hold these investments in debt securities to maturity and it is more-likely-than-not that the Corporation will not be required to sell these investments before a recovery of its investment, and (4) issuers have continued to make timely payments of principal and interest. Additionally, the Corporation’s mortgage-backed securities are entirely issued by either U.S. government agencies or U.S. government-sponsored enterprises. Collectively, these entities provide a guarantee, which is either explicitly or implicitly supported by the full faith and credit of the U.S. government, that investors in such mortgage-backed securities will receive timely principal and interest payments. Securities in an unrealized loss position at December 31, 2023, by duration of the period of the unrealized loss, are shown below. Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss U.S. Treasury securities $ — $ — $ 45,103 $ 780 $ 45,103 $ 780 U.S. government agencies and corporations — — 87,094 9,313 87,094 9,313 Mortgage-backed securities 5,528 68 150,023 16,155 155,551 16,223 Obligations of states and political subdivisions 4,659 72 65,630 3,972 70,289 4,044 Corporate and other debt securities 3,386 364 18,054 3,389 21,440 3,753 Total $ 13,573 $ 504 $ 365,904 $ 33,609 $ 379,477 $ 34,113 The Corporation’s investment in restricted stock totaled $4.54 million at September 30, 2024 and $2.93 million at December 31, 2023 and consisted of Federal Home Loan Bank of Atlanta (FHLB) stock. Restricted stock is generally viewed as a long-term investment, which is carried at cost because there is no market for the stock other than to be redeemed or repurchased by the FHLB. Therefore, when evaluating restricted stock for impairment, its value is based on the ultimate recoverability of the par value rather than by recognizing any temporary decline in value. The Corporation did not consider its investment in restricted stock to be impaired at September 30, 2024 and no impairment has been recognized.

Loans

Loans	9 Months Ended
Loans	Sep. 30, 2024
Loans
Loans	NOTE 3: Loans The Corporation’s loans are stated at their face amount, net of deferred fees and costs and discounts, and consist of the classes of loans included in the table below. The Corporation has elected to exclude accrued interest receivable, totaling $7.93 million and $7.65 million at September 30, 2024 and December 31, 2023, respectively, from the recorded balance of loans. September 30, December 31, (Dollars in thousands) 2024 2023 Commercial real estate $ 701,647 $ 668,122 Commercial business 115,410 115,348 Construction - commercial real estate 155,072 69,768 Land acquisition and development 33,774 29,064 Builder lines 29,664 24,668 Construction - consumer real estate 16,874 11,223 Residential mortgage 310,595 293,256 Equity lines 59,406 51,592 Other consumer 9,667 10,588 Consumer finance – automobiles 406,385 401,276 Consumer finance - marine and recreational vehicles 70,915 67,234 Subtotal 1,909,409 1,742,139 Less allowance for credit losses (40,771) (39,651) Loans, net $ 1,868,638 $ 1,702,488 Other consumer loans included $210,000 and $228,000 of demand deposit overdrafts at September 30, 2024 and December 31, 2023, respectively. The following table shows the aging of the Corporation’s loan portfolio, by class, at September 30, 2024: 30-59 60-89 90+ 90+ Days Days Days Days Total Past Due and (Dollars in thousands) Past Due Past Due Past Due Past Due Current 1 Total Loans Accruing Commercial real estate $ 89 $ 429 $ — $ 518 $ 701,129 $ 701,647 $ — Commercial business — — — — 115,410 115,410 — Construction - commercial real estate — — — — 155,072 155,072 — Land acquisition and development — — — — 33,774 33,774 — Builder lines — — — — 29,664 29,664 — Construction - consumer real estate — — — — 16,874 16,874 — Residential mortgage 2,042 132 231 2,405 308,190 310,595 115 Equity lines — 174 89 263 59,143 59,406 89 Other consumer — — — — 9,667 9,667 — Consumer finance - automobiles 12,826 2,408 1,008 16,242 390,143 406,385 — Consumer finance - marine and recreational vehicles 228 107 93 428 70,487 70,915 — Total $ 15,185 $ 3,250 $ 1,421 $ 19,856 $ 1,889,553 $ 1,909,409 $ 204 1 For the purposes of the table above, “Current” includes loans that are 1-29 days past due. The table above includes nonaccrual loans that are current of $240,000, 30-59 days past due of $156,000, 60-89 days past due of $115,000, and 90+ days past due of $1.22 million. The following table shows the aging of the Corporation’s loan portfolio, by class, at December 31, 2023: 30-59 60-89 90+ 90+ Days Days Days Days Total Past Due and (Dollars in thousands) Past Due Past Due Past Due Past Due Current 1 Total Loans Accruing Commercial real estate $ 92 $ — $ — $ 92 $ 668,030 $ 668,122 $ — Commercial business — — 1 1 115,347 115,348 1 Construction - commercial real estate — — — — 69,768 69,768 — Land acquisition and development — — — — 29,064 29,064 — Builder lines — — — — 24,668 24,668 — Construction - consumer real estate — — — — 11,223 11,223 — Residential mortgage 1,643 387 273 2,303 290,953 293,256 89 Equity lines 215 103 115 433 51,159 51,592 38 Other consumer 3 — 9 12 10,576 10,588 — Consumer finance - automobiles 15,263 2,628 892 18,783 382,493 401,276 — Consumer finance - marine and recreational vehicles 282 115 — 397 66,837 67,234 — Total $ 17,498 $ 3,233 $ 1,290 $ 22,021 $ 1,720,118 $ 1,742,139 $ 128 1 The table above includes nonaccrual loans that are current of $113,000, 60-89 days past due of $22,000 and 90+ days past due of $1.16 million. The following table shows the Corporation’s recorded balance of loans on nonaccrual status as of September 30, 2024 and December 31, 2023. The Corporation recognized $10,000 in interest income on loans on nonaccrual status as of September 30, 2024 and had $1,000 and $9,000 in reversals of interest income upon placing commercial loans on nonaccrual status during the three and nine months ended September 30, 2024, respectively. All nonaccrual loans at September 30, 2024 had an allowance for credit losses. September 30, December 31, (Dollars in thousands) 2024 2023 Commercial business $ 92 $ — Residential mortgage 516 320 Equity lines 20 77 Other consumer — 9 Consumer finance - automobiles 1,008 892 Consumer finance - marine and recreational vehicles 93 — Total $ 1,729 $ 1,298 Occasionally, the Corporation modifies loans to borrowers experiencing financial difficulties by providing principal forgiveness, term extensions, interest rate reductions or other-than-insignificant payment delays. As the effect of most modifications is already included in the allowance for credit losses due to the measurement methodologies used in its estimate, the allowance for credit losses is typically not adjusted upon modification. When principal forgiveness is provided at modification, the amount forgiven is charged against the allowance for credit losses. In some cases, the Corporation may provide multiple types of modifications on one loan and when multiple types of modifications occur within the same period, the combination of modifications is separately reported. The following tables present the amortized cost basis of loans as of September 30, 2024 and 2023 that were both experiencing financial difficulty and modified during the three and nine months ended September 30, 2024 and 2023. Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 % of Total % of Total Class of Class of Amortized Financing Amortized Financing (Dollars in thousands) Cost Receivable Cost Receivable Term Extension Commercial real estate $ 96 0.0 % $ 96 0.0 % Residential mortgage $ — — $ 336 0.1 Total Term Extension $ 96 $ 432 Combination Term Extension and Interest Rate Reduction Residential mortgage $ — — % $ 18 0.0 % Total Combination Term Extension and Interest Rate Reduction $ — $ 18 Total $ 96 0.0 % $ 450 0.0 % Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 % of Total % of Total Class of Class of Amortized Financing Amortized Financing (Dollars in thousands) Cost Receivable Cost Receivable Term Extension Commercial real estate $ 969 0.2 % $ 969 0.2 % Residential mortgage 71 0.0 71 0.0 Total Term Extension $ 1,040 $ 1,040 Combination Term Extension and Interest Rate Reduction Commercial real estate $ — — % $ 45 0.0 % Total Combination Term Extension and Interest Rate Reduction $ — $ 45 Total $ 1,040 0.1 % $ 1,085 0.1 % The following table presents the financial effects of the loan modifications presented above to borrowers experiencing financial difficulty for the three and nine months ended September 30, 2024 and 2023. Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Weighted- Weighted- Weighted- Weighted- Average Average Average Average Interest Rate Term Extension Interest Rate Term Extension (Dollars in thousands) Reduction (in years) Reduction (in years) Commercial real estate — % 1.0 — % 1.0 Residential mortgage — — 1.51 6.9 Total — % 1.0 1.51 % 5.7 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Weighted- Weighted- Weighted- Weighted- Average Average Average Average Interest Rate Term Extension Interest Rate Term Extension (Dollars in thousands) Reduction (in years) Reduction (in years) Commercial real estate — % 2.0 0.75 % 2.1 Residential mortgage — 10.0 — 10.0 Total — % 2.5 0.75 % 2.6 The Corporation closely monitors the performance of modified loans to understand the effectiveness of its modification efforts. Upon the determination that all or a portion of a modified loan is uncollectible, that amount is charged against the allowance for credit losses. There were no payment defaults during the three and nine months ended September 30, 2024 and 2023 of modified loans that were modified during the previous twelve months and all were current as of September 30, 2024.

Allowance for Credit Losses

Allowance for Credit Losses	9 Months Ended
Allowance for Credit Losses	Sep. 30, 2024
Allowance for Credit Losses
Allowance for Credit Losses	NOTE 4: Allowance for Credit Losses The Corporation conducts an analysis of the collectability of the loan portfolio on a regular basis and uses this analysis to assess the sufficiency of the allowance for credit losses on loans and to determine the necessary provision for credit losses. The Corporation segmented the loan portfolio into three loan portfolios based on common risk characteristics. The Commercial portfolio consists of commercial real estate loans, commercial business loans, commercial and consumer real estate construction loans, land acquisition and development loans, and builder lines. The Consumer portfolio consists of residential mortgage loans, equity lines, and other consumer loans. The Consumer Finance portfolio consists of automobile and marine and RV loans. The following table shows the allowance for credit losses activity by loan portfolio for the nine months ended September 30, 2024 and 2023: Consumer (Dollars in thousands) Commercial Consumer Finance Total Allowance for credit losses: Balance at December 31, 2023 $ 12,315 $ 3,758 $ 23,578 $ 39,651 Provision charged to operations 1,160 440 8,100 9,700 Loans charged off — (293) (11,707) (12,000) Recoveries of loans previously charged off 28 125 3,267 3,420 Balance at September 30, 2024 $ 13,503 $ 4,030 $ 23,238 $ 40,771 Consumer (Dollars in thousands) Commercial Consumer Finance Total Allowance for credit losses: Balance at December 31, 2022 $ 11,219 $ 3,330 $ 25,969 $ 40,518 Impact of ASC 326 adoption on non-PCD loans (617) 98 406 (113) Impact of ASC 326 adoption on PCD loans 595 9 — 604 Provision charged to operations 839 362 4,250 5,451 Loans charged off (16) (240) (9,306) (9,562) Recoveries of loans previously charged off 144 136 3,070 3,350 Balance at September 30, 2023 $ 12,164 $ 3,695 $ 24,389 $ 40,248 The following table presents a breakdown of the provision for credit losses for the periods indicated. Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Provision for credit losses: Provision for loans $ 3,700 $ 2,100 $ 9,700 $ 5,451 Provision for unfunded commitments — (50) 50 349 Total $ 3,700 $ 2,050 $ 9,750 $ 5,800 The table below details the recorded balance of the classes of loans within the commercial and consumer loan portfolios by loan rating, which is reviewed on a quarterly basis, and year of origination as of September 30, 2024: Revolving Revolving Term Loans Recorded Balance by Origination Year Loans Loans Recorded Converted (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Balance to Term 1 Total Commercial real estate: Loan Rating Pass $ 71,877 $ 80,522 $ 123,080 $ 143,969 $ 112,031 $ 163,489 $ — $ 112 $ 695,080 Special Mention — — — 5,624 — 943 — — 6,567 Total $ 71,877 $ 80,522 $ 123,080 $ 149,593 $ 112,031 $ 164,432 $ — $ 112 $ 701,647 Commercial business: Loan Rating Pass $ 6,189 $ 14,223 $ 19,158 $ 14,247 $ 10,710 $ 25,128 $ 25,587 $ — $ 115,242 Special Mention 24 52 — — — — — — 76 Substandard Nonaccrual — — — — — — — 92 92 Total $ 6,213 $ 14,275 $ 19,158 $ 14,247 $ 10,710 $ 25,128 $ 25,587 $ 92 $ 115,410 Construction - commercial real estate: Loan Rating Pass $ 38,479 $ 50,213 $ 61,410 $ — $ 4,970 $ — $ — $ — $ 155,072 Total $ 38,479 $ 50,213 $ 61,410 $ — $ 4,970 $ — $ — $ — $ 155,072 Land acquisition and development: Loan Rating Pass $ 19,073 $ 2,114 $ 2,662 $ 1,324 $ 8,601 $ — $ — $ — $ 33,774 Total $ 19,073 $ 2,114 $ 2,662 $ 1,324 $ 8,601 $ — $ — $ — $ 33,774 Builder lines: Loan Rating Pass $ 23,913 $ 3,436 $ 1,430 $ 481 $ — $ 404 $ — $ — $ 29,664 Total $ 23,913 $ 3,436 $ 1,430 $ 481 $ — $ 404 $ — $ — $ 29,664 Construction - consumer real estate: Loan Rating Pass $ 11,329 $ 5,099 $ 358 $ — $ — $ — $ 88 $ — $ 16,874 Total $ 11,329 $ 5,099 $ 358 $ — $ — $ — $ 88 $ — $ 16,874 Residential mortgage: Loan Rating Pass $ 39,210 $ 58,659 $ 84,733 $ 40,701 $ 36,323 $ 49,080 $ — $ — $ 308,706 Special Mention — 869 — — — 223 — — 1,092 Substandard — — — — 102 179 — — 281 Substandard Nonaccrual 128 — — — — 388 — — 516 Total $ 39,338 $ 59,528 $ 84,733 $ 40,701 $ 36,425 $ 49,870 $ — $ — $ 310,595 Equity lines: Loan Rating Pass $ 23 $ — $ — $ — $ 70 $ 839 $ 58,050 $ 239 $ 59,221 Special Mention — — — — — — — 76 76 Substandard — — — — — — — 89 89 Substandard Nonaccrual — — — — — — — 20 20 Total $ 23 $ — $ — $ — $ 70 $ 839 $ 58,050 $ 424 $ 59,406 Other consumer: Loan Rating Pass $ 3,842 $ 2,841 $ 1,828 $ 336 $ 163 $ 611 $ 46 $ — $ 9,667 Total $ 3,842 $ 2,841 $ 1,828 $ 336 $ 163 $ 611 $ 46 $ — $ 9,667 Total: Loan Rating Pass $ 213,935 $ 217,107 $ 294,659 $ 201,058 $ 172,868 $ 239,551 $ 83,771 $ 351 $ 1,423,300 Special Mention 24 921 — 5,624 — 1,166 — 76 7,811 Substandard — — — — 102 179 — 89 370 Substandard Nonaccrual 128 — — — — 388 — 112 628 Total $ 214,087 $ 218,028 $ 294,659 $ 206,682 $ 172,970 $ 241,284 $ 83,771 $ 628 $ 1,432,109 1 Equity lines include $154,000 of revolving loans converted to term during the nine months ended September 30, 2024. The table below details the recorded balance of the classes of loans within the commercial and consumer loan portfolios by loan rating, which is reviewed on a quarterly basis, and year of origination as of December 31, 2023: Revolving Revolving Term Loans Recorded Balance by Origination Year Loans Loans Recorded Converted (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Balance to Term 1 Total Commercial real estate: Loan Rating Pass $ 81,324 $ 125,278 $ 155,805 $ 121,365 $ 37,383 $ 140,158 $ — $ 119 $ 661,432 Special Mention — — 5,731 — — 959 — — 6,690 Total $ 81,324 $ 125,278 $ 161,536 $ 121,365 $ 37,383 $ 141,117 $ — $ 119 $ 668,122 Commercial business: Loan Rating Pass $ 18,682 $ 18,190 $ 17,219 $ 12,062 $ 14,847 $ 15,339 $ 18,686 $ 261 $ 115,286 Special Mention 62 — — — — — — — 62 Total $ 18,744 $ 18,190 $ 17,219 $ 12,062 $ 14,847 $ 15,339 $ 18,686 $ 261 $ 115,348 Construction - commercial real estate: Loan Rating Pass $ 29,346 $ 36,907 $ — $ 3,515 $ — $ — $ — $ — $ 69,768 Total $ 29,346 $ 36,907 $ — $ 3,515 $ — $ — $ — $ — $ 69,768 Land acquisition and development: Loan Rating Pass $ 4,562 $ 4,665 $ 9,844 $ 9,993 $ — $ — $ — $ — $ 29,064 Total $ 4,562 $ 4,665 $ 9,844 $ 9,993 $ — $ — $ — $ — $ 29,064 Builder lines: Loan Rating Pass $ 17,919 $ 5,124 $ 1,221 $ — $ 404 $ — $ — $ — $ 24,668 Total $ 17,919 $ 5,124 $ 1,221 $ — $ 404 $ — $ — $ — $ 24,668 Construction - consumer real estate: Loan Rating Pass $ 7,889 $ 3,240 $ — $ — $ — $ — $ 94 $ — $ 11,223 Total $ 7,889 $ 3,240 $ — $ — $ — $ — $ 94 $ — $ 11,223 Residential mortgage: Loan Rating Pass $ 59,441 $ 91,086 $ 44,292 $ 40,089 $ 11,524 $ 46,192 $ — $ — $ 292,624 Special Mention — — — — — 44 — — 44 Substandard — — — 103 — 165 — — 268 Substandard Nonaccrual — — — — 62 258 — — 320 Total $ 59,441 $ 91,086 $ 44,292 $ 40,192 $ 11,586 $ 46,659 $ — $ — $ 293,256 Equity lines: Loan Rating Pass $ — $ — $ 34 $ 70 $ — $ 857 $ 50,120 $ 344 $ 51,425 Special Mention — — — — — — — 85 85 Substandard — — — — 5 — — — 5 Substandard Nonaccrual — — — — — 9 — 68 77 Total $ — $ — $ 34 $ 70 $ 5 $ 866 $ 50,120 $ 497 $ 51,592 Other consumer: Loan Rating Pass $ 6,263 $ 2,762 $ 606 $ 282 $ 101 $ 519 $ 46 $ — $ 10,579 Substandard Nonaccrual — — — — 9 — — — 9 Total $ 6,263 $ 2,762 $ 606 $ 282 $ 110 $ 519 $ 46 $ — $ 10,588 Total: Loan Rating Pass $ 225,426 $ 287,252 $ 229,021 $ 187,376 $ 64,259 $ 203,065 $ 68,946 $ 724 $ 1,266,069 Special Mention 62 — 5,731 — — 1,003 — 85 6,881 Substandard — — — 103 5 165 — — 273 Substandard Nonaccrual — — — — 71 267 — 68 406 Total $ 225,488 $ 287,252 $ 234,752 $ 187,479 $ 64,335 $ 204,500 $ 68,946 $ 877 $ 1,273,629 1 All balances shown in this column were converted to term during the year ended December 31, 2023. The table below details the recorded balance of the classes of loans within the consumer finance loan portfolio by credit rating at the time of origination and year of origination as of September 30, 2024: Revolving Term Loans Recorded Balance by Origination Year Loans Revolving Converted (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Loans to Term Total Consumer finance - automobiles: Credit rating 1 Very good $ 19,654 $ 11,317 $ 8,863 $ 2,796 $ 550 $ 125 $ — $ — $ 43,305 Good 32,490 28,443 32,578 10,822 1,948 514 — — 106,795 Fairly good 34,183 36,945 41,542 19,129 3,878 2,274 — — 137,951 Fair 19,812 23,501 27,507 15,261 4,392 2,988 — — 93,461 Marginal 3,940 4,875 6,473 5,571 2,056 1,958 — — 24,873 Total $ 110,079 $ 105,081 $ 116,963 $ 53,579 $ 12,824 $ 7,859 $ — $ — $ 406,385 Consumer finance - marine and recreational vehicles: Credit rating 1 Very good $ 8,523 $ 6,487 $ 13,137 $ 8,397 $ 8,277 $ 4,003 $ — $ — $ 48,824 Good 4,589 6,593 7,135 1,395 1,208 684 — — 21,604 Fairly good — 203 186 35 28 35 — — 487 Total $ 13,112 $ 13,283 $ 20,458 $ 9,827 $ 9,513 $ 4,722 $ — $ — $ 70,915 Total: Credit rating 1 Very good $ 28,177 $ 17,804 $ 22,000 $ 11,193 $ 8,827 $ 4,128 $ — $ — $ 92,129 Good 37,079 35,036 39,713 12,217 3,156 1,198 — — 128,399 Fairly good 34,183 37,148 41,728 19,164 3,906 2,309 — — 138,438 Fair 19,812 23,501 27,507 15,261 4,392 2,988 — — 93,461 Marginal 3,940 4,875 6,473 5,571 2,056 1,958 — — 24,873 Total $ 123,191 $ 118,364 $ 137,421 $ 63,406 $ 22,337 $ 12,581 $ — $ — $ 477,300 1 Credit ratings with a FICO score greater than 739 are considered Very Good, FICO scores ranging from 670-739 are considered Good, FICO scores ranging from 625-669 are considered Fairly Good, FICO scores ranging from 580-624 are considered Fair and FICO scores less than 580 are considered Marginal. The table below details the recorded balance of the classes of loans within the consumer finance loan portfolio by credit rating at the time of origination and year of origination as of December 31, 2023: Revolving Term Loans Recorded Balance by Origination Year Loans Revolving Converted (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Loans to Term Total Consumer finance - automobiles: Credit rating 1 Very good $ 14,916 $ 12,395 $ 4,291 $ 1,012 $ 277 $ 22 $ — $ — $ 32,913 Good 35,203 42,800 15,530 3,338 1,090 325 — — 98,286 Fairly good 44,227 54,968 26,645 6,186 3,984 1,470 — — 137,480 Fair 28,779 36,794 22,266 7,014 4,808 1,908 — — 101,569 Marginal 6,359 8,956 7,715 3,322 2,832 1,844 — — 31,028 Total $ 129,484 $ 155,913 $ 76,447 $ 20,872 $ 12,991 $ 5,569 $ — $ — $ 401,276 Consumer finance - marine and recreational vehicles: Credit rating 1 Very good $ 7,481 $ 15,000 $ 9,857 $ 9,952 $ 2,518 $ 2,438 $ — $ — $ 47,246 Good 7,419 8,130 1,602 1,384 410 453 — — 19,398 Fairly good 265 221 37 30 — 37 — — 590 Total $ 15,165 $ 23,351 $ 11,496 $ 11,366 $ 2,928 $ 2,928 $ — $ — $ 67,234 Total: Credit rating 1 Very good $ 22,397 $ 27,395 $ 14,148 $ 10,964 $ 2,795 $ 2,460 $ — $ — $ 80,159 Good 42,622 50,930 17,132 4,722 1,500 778 — — 117,684 Fairly good 44,492 55,189 26,682 6,216 3,984 1,507 — — 138,070 Fair 28,779 36,794 22,266 7,014 4,808 1,908 — — 101,569 Marginal 6,359 8,956 7,715 3,322 2,832 1,844 — — 31,028 Total $ 144,649 $ 179,264 $ 87,943 $ 32,238 $ 15,919 $ 8,497 $ — $ — $ 468,510 1 Credit ratings with a FICO score greater than 739 are considered Very Good, FICO scores ranging from 670-739 are considered Good, FICO scores ranging from 625-669 are considered Fairly Good, FICO scores ranging from 580-624 are considered Fair and FICO scores less than 580 are considered Marginal. The following table details the current period gross charge-offs of loans by year of origination for the nine months ended September 30, 2024: Revolving Current Period Gross Charge-offs by Origination Year Loans Revolving Converted (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Loans to Term Total Residential mortgage $ 3 $ — $ — $ — $ — $ — $ — $ — $ 3 Other consumer 1 204 19 5 — — 62 — — 290 Consumer finance - automobiles 367 2,275 5,053 2,691 457 573 — — 11,416 Consumer finance - marine and recreational vehicles — 56 160 34 27 14 — — 291 Total $ 574 $ 2,350 $ 5,218 $ 2,725 $ 484 $ 649 $ — $ — $ 12,000 1 Gross charge-offs of other consumer loans for the nine months ended September 30, 2024 included $193,000 of demand deposit overdrafts that originated in 2024. The following table details the current period gross charge-offs of loans by year of origination for the nine months ended September 30, 2023: Revolving Current Period Gross Charge-offs by Origination Year Loans Revolving Converted (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Loans to Term Total Commercial business $ — $ 16 $ — $ — $ — $ — $ — $ — $ 16 Equity lines — — — — — 8 — — 8 Other consumer 1 199 25 — 3 2 3 — — 232 Consumer finance - automobiles 490 4,396 2,628 583 477 567 — — 9,141 Consumer finance - marine and recreational vehicles — 82 — 40 6 37 — — 165 Total $ 689 $ 4,519 $ 2,628 $ 626 $ 485 $ 615 $ — $ — $ 9,562 1 Gross charge-offs of other consumer loans for the nine months ended September 30, 2023 included $199,000 of demand deposit overdrafts that originated in 2023. Gross charge-offs increased for the nine months ended September 30, 2024 compared to the same period in 2023 due primarily to higher charge-offs within the consumer finance-automobile portfolio segment as a result of an increase in the number of delinquent loans and repossessions and a higher average charge-off per unit as a result of larger loan amounts due to higher automobile values during 2020 and 2021 and a decline in wholesale values of used automobiles since then. As of September 30, 2024 and December 31, 2023, the Corporation had no collateral dependent loans for which repayment was expected to be derived substantially through the operation or sale of the collateral and where the borrower is experiencing financial difficulty.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
Goodwill and Other Intangible Assets	Sep. 30, 2024
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	NOTE 5: Goodwill and Other Intangible Assets The carrying amount of goodwill was $25.19 million at September 30, 2024 and December 31, 2023. There were no changes in the recorded balance of goodwill during the three and nine months ended September 30, 2024 or 2023. The Corporation had $1.21 million and $1.41 million of other intangible assets as of September 30, 2024 and December 31, 2023, respectively. Other intangible assets were recognized in connection with the core deposits acquired from Peoples Bankshares, Incorporated in 2020 and customer relationships acquired by C&F Wealth Management in 2016. The following table summarizes the gross carrying amounts and accumulated amortization of other intangible assets: September 30, December 31, 2024 2023 Gross Gross Carrying Accumulated Carrying Accumulated (Dollars in thousands) Amount Amortization Amount Amortization Amortizable intangible assets: Core deposit intangibles $ 1,711 $ (673) $ 1,711 $ (588) Other amortizable intangibles 1,405 (1,232) 1,405 (1,121) Total $ 3,116 $ (1,905) $ 3,116 $ (1,709) Amortization expense was $66,000 and $68,000 for the three months ended September 30, 2024 and 2023, respectively, and $196,000 and $204,000 for the nine months ended September 30, 2024 and 2023, respectively.

Equity, Other Comprehensive Inc

Equity, Other Comprehensive Income (Loss) and Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Equity, Other Comprehensive Income (Loss) and Earnings Per Share
Equity, Other Comprehensive Income (Loss) and Earnings Per Share	NOTE 6: Equity, Other Comprehensive Income (Loss) and Earnings Per Share Equity and Noncontrolling Interest The Board of Directors authorized a program, effective January 1, 2024, to repurchase up to $10.00 million of the Corporation’s common stock through December 31, 2024 (the 2024 Repurchase Program). During the three and nine months ended September 30, 2024, the Corporation repurchased $3.24 million and $7.27 million, respectively, of its common stock under the 2024 Repurchase Program. As of September 30, 2024, there was $2.73 million remaining available for repurchases of the Corporation’s common stock under the 2024 Repurchase Program. The Corporation’s previous share repurchase program, which was authorized by the Board of Directors in December 2022, expired on December 31, 2023. The Corporation repurchased $1.31 million and $5.85 million, respectively, under the previous share repurchase program during the three and nine months ended September 30, 2023. Additionally during the nine months ended September 30, 2024 and 2023, the Corporation withheld 9,316 shares and 7,765 shares of its common stock, respectively, from employees to satisfy tax withholding obligations upon vesting of restricted stock. Noncontrolling interest represents an ownership interest in C&F Select LLC, a subsidiary of C&F Mortgage, held by an unrelated investor. Accumulated Other Comprehensive Income (Loss), Net Changes in each component of accumulated other comprehensive loss were as follows for the three months ended September 30, 2024 and 2023: Securities Defined Cash Available Benefit Flow (Dollars in thousands) For Sale Plan Hedges Total Accumulated other comprehensive (loss) income at June 30, 2024 $ (25,439) $ (2,736) $ 1,076 $ (27,099) Other comprehensive income (loss) arising during the period 10,453 — (864) 9,589 Related income tax effects (2,195) — 222 (1,973) 8,258 — (642) 7,616 Reclassifications into net income — 20 — 20 Related income tax effects — (4) — (4) — 16 — 16 Other comprehensive income (loss), net of tax 8,258 16 (642) 7,632 Accumulated other comprehensive (loss) income at September 30, 2024 $ (17,181) $ (2,720) $ 434 $ (19,467) Securities Defined Cash Available Benefit Flow (Dollars in thousands) For Sale Plan Hedges Total Accumulated other comprehensive (loss) income at June 30, 2023 $ (33,635) $ (3,195) $ 1,424 $ (35,406) Other comprehensive (loss) income arising during the period (7,369) — 179 (7,190) Related income tax effects 1,548 — (45) 1,503 (5,821) — 134 (5,687) Reclassifications into net income — 25 (1) 24 Related income tax effects — (5) — (5) — 20 (1) 19 Other comprehensive (loss) income, net of tax (5,821) 20 133 (5,668) Accumulated other comprehensive (loss) income at September 30, 2023 $ (39,456) $ (3,175) $ 1,557 $ (41,074) Changes in each component of accumulated other comprehensive loss were as follows for the nine months ended September 30, 2024 and 2023: Securities Defined Cash Available Benefit Flow (Dollars in thousands) For Sale Plan Hedges Total Accumulated other comprehensive (loss) income at December 31, 2023 $ (25,002) $ (2,752) $ 1,067 $ (26,687) Other comprehensive income (loss) arising during the period 9,900 — (847) 9,053 Related income tax effects (2,079) — 218 (1,861) 7,821 — (629) 7,192 Reclassifications into net income — 40 (5) 35 Related income tax effects — (8) 1 (7) — 32 (4) 28 Other comprehensive income (loss), net of tax 7,821 32 (633) 7,220 Accumulated other comprehensive (loss) income at September 30, 2024 $ (17,181) $ (2,720) $ 434 $ (19,467) Securities Defined Cash Available Benefit Flow (Dollars in thousands) For Sale Plan Hedges Total Accumulated other comprehensive (loss) income at December 31, 2022 $ (35,184) $ (3,236) $ 1,462 $ (36,958) Other comprehensive income (loss) arising during the period (5,413) — 131 (5,282) Related income tax effects 1,137 — (32) 1,105 (4,276) — 99 (4,177) Reclassifications into net income 5 77 (5) 77 Related income tax effects (1) (16) 1 (16) 4 61 (4) 61 Other comprehensive income (loss), net of tax (4,272) 61 95 (4,116) Accumulated other comprehensive (loss) income at September 30, 2023 $ (39,456) $ (3,175) $ 1,557 $ (41,074) The following table provides information regarding reclassifications from accumulated other comprehensive loss into net income for the three and nine months ended September 30, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, Line Item In the Consolidated (Dollars in thousands) 2024 2023 2024 2023 Statements of Income Securities available for sale: Reclassification of net realized losses into net income $ — $ — $ — $ (5) Net losses on sales, maturities and calls of available for sale securities Related income tax effects — — — 1 Income tax expense — — — (4) Net of tax Defined benefit plan: 1 Reclassification of recognized net actuarial losses into net income (38) (42) (92) (128) Noninterest expenses - Other Amortization of prior service credit into net income 18 17 52 51 Noninterest expenses - Other Related income tax effects 4 5 8 16 Income tax expense (16) (20) (32) (61) Net of tax Cash flow hedges: Amortization of hedging gains into net income — 1 5 5 Interest expense - Trust preferred capital notes Related income tax effects — — (1) (1) Income tax expense — 1 4 4 Net of tax Total reclassifications into net income $ (16) $ (19) $ (28) $ (61) 1 See “Note 8: Employee Benefit Plans,” for additional information. Earnings Per Share (EPS) The components of the Corporation’s EPS calculations are as follows: Three Months Ended September 30, (Dollars in thousands) 2024 2023 Net income attributable to C&F Financial Corporation $ 5,389 $ 5,789 Weighted average shares outstanding — 3,258,420 3,391,624 Nine Months Ended September 30, (Dollars in thousands) 2024 2023 Net income attributable to C&F Financial Corporation $ 13,797 $ 18,536 Weighted average shares outstanding — 3,323,942 3,426,845 The Corporation has applied the two-class method of computing basic and diluted EPS for each period presented because the Corporation’s unvested restricted shares outstanding contain rights to nonforfeitable dividends equal to dividends on the Corporation’s common stock. Accordingly, the weighted average number of shares used in the calculation of basic and diluted EPS includes both vested and unvested shares outstanding.

Share-Based Plans

Share-Based Plans	9 Months Ended
Share-Based Plans	Sep. 30, 2024
Share-Based Plans
Share-Based Plans	NOTE 7: Share-Based Plans As permitted under the 2022 Stock and Incentive Compensation Plan, and previously under the 2013 Stock and Incentive Compensation Plan until April 19, 2022, the Corporation awards shares of restricted stock to certain key employees, non-employee directors and consultants. Restricted shares awarded to employees generally vest over periods up to five years, and restricted shares awarded to non-employee directors generally vest over periods up to three years. A summary of the activity for restricted stock awards for the periods indicated is presented below: 2024 Weighted- Average Grant Date Shares Fair Value Unvested, December 31, 2023 135,694 $ 52.13 Granted 17,975 46.81 Vested (32,061) 49.13 Forfeited (1,435) 53.69 Unvested, September 30, 2024 120,173 52.12 2023 Weighted- Average Grant Date Shares Fair Value Unvested, December 31, 2022 145,677 $ 48.88 Granted 18,540 57.32 Vested (30,043) 51.53 Forfeited (3,545) 49.37 Unvested, September 30, 2023 130,629 55.36 The fair value of shares that vested during the three and nine months ended September 30, 2024 was $19,000 and $1.68 million, respectively. The fair value of shares that vested during the three and nine months ended September 30, 2023 was $232,000 and $1.73 million, respectively. Share-based compensation expense, net of forfeitures, for the three and nine months ended September 30, 2024 was $485,000 ($347,000 after tax) and $1.46 million ($1.01 million after tax), respectively, for restricted stock granted during 2019 through 2024. Share-based compensation expense, net of forfeitures, for the three and nine months ended September 30, 2023 was $581,000 ($412,000 after tax) and $1.51 million ($1.02 million after tax), respectively, for restricted stock granted during 2018 through 2023. As of September 30, 2024, there was $2.98 million of total unrecognized compensation expense related to unvested restricted stock that will be recognized over the remaining requisite service periods.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
Employee Benefit Plans	Sep. 30, 2024
Employee Benefit Plans
Employee Benefit Plans	NOTE 8: Employee Benefit Plans The following table summarizes the components of net periodic benefit cost for the Bank’s non-contributory cash balance pension plan. Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Components of net periodic benefit cost: Service cost, included in salaries and employee benefits $ 339 $ 344 $ 1,076 $ 1,032 Other components of net periodic benefit cost: Interest cost 203 182 582 546 Expected return on plan assets (346) (321) (1,031) (963) Amortization of prior service credit (18) (17) (52) (51) Recognized net actuarial losses 38 42 92 128 Other components of net periodic benefit cost, included in other noninterest expense (123) (114) (409) (340) Net periodic benefit cost $ 216 $ 230 $ 667 $ 692

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	9 Months Ended
Fair Value of Assets and Liabilities	Sep. 30, 2024
Fair Value of Assets and Liabilities
Fair Value of Assets and Liabilities	NOTE 9: Fair Value of Assets and Liabilities Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. GAAP requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. GAAP also establishes a fair value hierarchy which prioritizes the valuation inputs into three broad levels. Based on the underlying inputs, each fair value measurement in its entirety is reported in one of the three levels. These levels are: ● Level 1—Valuation is based upon quoted prices for identical instruments traded in active markets. Level 1 assets and liabilities include debt securities traded in an active exchange market, as well as U.S. Treasury securities. ● Level 2—Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ● Level 3—Valuation is determined using model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect the Corporation’s estimates of assumptions that market participants would use in pricing the respective asset or liability. Valuation techniques may include the use of pricing models, discounted cash flow models and similar techniques. GAAP allows an entity the irrevocable option to elect fair value (the fair value option) for the initial and subsequent measurement for certain financial assets and liabilities on a contract-by-contract basis. The Corporation has elected to use fair value accounting for its entire portfolio of loans held for sale (LHFS). Assets and Liabilities Measured at Fair Value on a Recurring Basis The following describes the valuation techniques and inputs used by the Corporation in determining the fair value of certain assets recorded at fair value on a recurring basis in the financial statements. Securities available for sale. Other investments. The Corporation also holds certain equity investments consisting of equity interests in an independent insurance agency and a full service title and settlement agency (collectively, the agencies). These investments are subject to contractual sale restrictions that only permit the sale of the investments back to the agencies themselves. These investments are recorded at fair value and included in other assets in the Consolidated Balance Sheets. At September 30, 2024 and December 31, 2023, the fair value of these investments was $3.92 million and $3.75 million, respectively. These investments are recorded at fair value based on the contractual redemption value of the Corporation’s proportionate share of the agencies’ equity. Changes in fair value are recognized in net income and resulted in the recognition of unrealized gains of $194,000 and $433,000 for the three and nine months ended September 30, 2024, respectively, and unrealized gains of $137,000 and $210,000 for the same periods in 2023. The Corporation’s investments in these agencies are classified as Level 2. Loans held for sale. Derivative asset - IRLCs. Derivative asset/liability – interest rate swaps on loans. Derivative asset/liability – cash flow hedges. The following table presents the balances of financial assets and liabilities measured at fair value on a recurring basis. The fair value of forward sales of mortgage loans were not material to the consolidated financial statements of the Corporation at September 30, 2024 or December 31, 2023. September 30, 2024 Fair Value Measurements Classified as Assets/Liabilities at (Dollars in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Securities available for sale U.S. Treasury securities $ — $ 10,684 $ — $ 10,684 U.S. government agencies and corporations — 63,669 — 63,669 Mortgage-backed securities — 166,977 — 166,977 Obligations of states and political subdivisions — 147,176 — 147,176 Corporate and other debt securities — 20,539 — 20,539 Total securities available for sale — 409,045 — 409,045 Loans held for sale — 44,677 — 44,677 Other investments — 3,919 — 3,919 Derivatives IRLC — 714 — 714 Interest rate swaps on loans — 4,900 — 4,900 Cash flow hedges — 865 — 865 Total assets $ — $ 464,120 $ — $ 464,120 Liabilities: Derivatives Interest rate swaps on loans $ — $ 4,900 $ — $ 4,900 Cash flow hedges — 305 — 305 Total liabilities $ — $ 5,205 $ — $ 5,205 December 31, 2023 Fair Value Measurements Classified as Assets/Liabilities at (Dollars in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Securities available for sale U.S. Treasury securities $ — $ 45,103 $ — $ 45,103 U.S. government agencies and corporations — 87,094 — 87,094 Mortgage-backed securities — 161,696 — 161,696 Obligations of states and political subdivisions — 147,111 — 147,111 Corporate and other debt securities — 21,440 — 21,440 Total securities available for sale — 462,444 — 462,444 Loans held for sale — 14,176 — 14,176 Other investments — 3,751 — 3,751 Derivatives IRLC — 335 — 335 Interest rate swaps on loans — 6,110 — 6,110 Cash flow hedges — 1,415 — 1,415 Total assets $ — $ 488,231 $ — $ 488,231 Liabilities: Derivatives Interest rate swaps on loans $ — $ 6,110 $ — $ 6,110 Total liabilities $ — $ 6,110 $ — $ 6,110 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The Corporation may be required, from time to time, to measure and recognize certain assets at fair value on a nonrecurring basis in accordance with GAAP. As of September 30, 2024 and December 31, 2023, the Corporation had no assets or liabilities recorded at fair value on a nonrecurring basis. Fair Value of Financial Instruments FASB ASC 825, Financial Instruments The following tables reflect the carrying amounts and estimated fair values of the Corporation’s financial instruments whether or not recognized on the Consolidated Balance Sheets at fair value. Carrying Fair Value Measurements at September 30, 2024 Classified as Total Fair (Dollars in thousands) Value Level 1 Level 2 Level 3 Value Financial assets: Cash and short-term investments $ 50,703 $ 49,193 $ 1,510 $ — $ 50,703 Securities available for sale 409,045 — 409,045 — 409,045 Loans, net 1,868,638 — — 1,823,821 1,823,821 Loans held for sale 44,677 — 44,677 — 44,677 Other investments 3,919 — 3,919 — 3,919 Derivatives IRLC 714 — 714 — 714 Interest rate swaps on loans 4,900 — 4,900 — 4,900 Cash flow hedges 865 — 865 — 865 Bank-owned life insurance 21,827 — 21,827 — 21,827 Accrued interest receivable 10,198 10,198 — — 10,198 Financial liabilities: Demand and savings deposits 1,325,040 1,325,040 — — 1,325,040 Time deposits 810,851 — 807,686 — 807,686 Borrowings 134,076 — 125,192 — 125,192 Derivatives Interest rate swaps on loans 4,900 — 4,900 — 4,900 Cash flow hedges 305 — 305 — 305 Accrued interest payable 3,967 3,967 — — 3,967 Carrying Fair Value Measurements at December 31, 2023 Classified as Total Fair (Dollars in thousands) Value Level 1 Level 2 Level 3 Value Financial assets: Cash and short-term investments $ 77,403 $ 75,159 $ 2,244 $ — $ 77,403 Securities available for sale 462,444 — 462,444 — 462,444 Loans, net 1,702,488 — — 1,643,462 1,643,462 Loans held for sale 14,176 — 14,176 — 14,176 Other investments 3,751 — 3,751 — 3,751 Derivatives IRLC 335 — 335 — 335 Interest rate swaps on loans 6,110 — 6,110 — 6,110 Cash flow hedges 1,415 — 1,415 — 1,415 Bank-owned life insurance 21,464 — 21,464 — 21,464 Accrued interest receivable 10,398 10,398 — — 10,398 Financial liabilities: Demand and savings deposits 1,392,931 1,392,931 — — 1,392,931 Time deposits 673,199 — 668,965 — 668,965 Borrowings 103,618 — 90,120 — 90,120 Derivatives Interest rate swaps on loans 6,110 — 6,110 — 6,110 Accrued interest payable 3,493 3,493 — — 3,493

Business Segments

Business Segments	9 Months Ended
Business Segments	Sep. 30, 2024
Business Segments
Business Segments	NOTE 10: Business Segments The Corporation operates in a decentralized fashion in three business segments: community banking, mortgage banking and consumer finance. The community banking segment comprises C&F Bank, C&F Wealth Management, C&F Insurance and CVB Title. Revenues from community banking operations consist primarily of net interest income related to investments in loans and securities and outstanding deposits and borrowings, fees earned on deposit accounts, debit card interchange activity, and net revenues from offering wealth management services and insurance products through third-party service providers. Through C&F Mortgage, mortgage banking operating revenues consist principally of gains on sales of loans in the secondary market, mortgage banking fee income related to loan originations, fees earned by providing mortgage loan origination functions to third-party lenders, and net interest income on mortgage loans held for sale. Revenues from consumer finance operations through C&F Finance consist primarily of net interest income earned on purchased retail installment sales contracts. The standalone Corporation’s revenues and expenses are comprised primarily of interest expense associated with the Corporation’s trust preferred capital notes and subordinated debt, general corporate expenses, and changes in the value of the rabbi trust and deferred compensation liability related to its nonqualified deferred compensation plan. The results of the Corporation, which includes funding and operating costs that are not allocated to the business segments, are included in the column labeled “Other” in the tables below. Three Months Ended September 30, 2024 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 29,087 $ 597 $ 12,676 $ — $ (6,229) $ 36,131 Interest expense 10,822 307 6,025 621 (6,333) 11,442 Net interest income 18,265 290 6,651 (621) 104 24,689 Gain on sales of loans — 1,704 — — 121 1,825 Other noninterest income 4,599 1,203 197 1,020 (72) 6,947 Net revenue 22,864 3,197 6,848 399 153 33,461 Provision for credit losses 700 — 3,000 — — 3,700 Noninterest expense 15,587 2,725 3,418 1,378 (17) 23,091 Income (loss) before taxes 6,577 472 430 (979) 170 6,670 Income tax expense (benefit) 1,240 121 119 (265) 35 1,250 Net income (loss) $ 5,337 $ 351 $ 311 $ (714) $ 135 $ 5,420 Other data: Capital expenditures $ 2,026 $ 6 $ — $ — $ — $ 2,032 Depreciation and amortization $ 843 $ 18 $ 84 $ — $ — $ 945 Three Months Ended September 30, 2023 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 25,066 $ 517 $ 12,020 $ — $ (5,917) $ 31,686 Interest expense 6,675 232 5,748 548 (5,979) 7,224 Net interest income 18,391 285 6,272 (548) 62 24,462 Gain on sales of loans — 1,198 — — 22 1,220 Other noninterest income 4,415 1,144 (19) (496) (50) 4,994 Net revenue 22,806 2,627 6,253 (1,044) 34 30,676 Provision for loan losses 500 — 1,550 — — 2,050 Noninterest expense 15,323 2,631 3,761 (172) (17) 21,526 Income (loss) before taxes 6,983 (4) 942 (872) 51 7,100 Income tax expense (benefit) 1,298 1 260 (246) 10 1,323 Net income (loss) $ 5,685 $ (5) $ 682 $ (626) $ 41 $ 5,777 Other data: Capital expenditures $ 251 $ 12 $ 146 $ — $ — $ 409 Depreciation and amortization $ 838 $ 18 $ 100 $ — $ — $ 956 Nine Months Ended September 30, 2024 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 82,691 $ 1,411 $ 37,084 $ — $ (18,035) $ 103,151 Interest expense 29,768 595 17,722 1,708 (18,317) 31,476 Net interest income 52,923 816 19,362 (1,708) 282 71,675 Gain on sales of loans — 5,048 — — (234) 4,814 Other noninterest income 12,874 3,443 678 1,979 (200) 18,774 Net revenue 65,797 9,307 20,040 271 (152) 95,263 Provision for loan losses 1,650 — 8,100 — — 9,750 Noninterest expense 47,153 7,938 10,363 3,208 (48) 68,614 Income (loss) before taxes 16,994 1,369 1,577 (2,937) (104) 16,899 Income tax expense (benefit) 3,074 348 435 (825) (22) 3,010 Net income (loss) $ 13,920 $ 1,021 $ 1,142 $ (2,112) $ (82) $ 13,889 Other data: Capital expenditures $ 2,842 $ 103 $ 111 $ — $ — $ 3,056 Depreciation and amortization $ 2,536 $ 52 $ 253 $ — $ — $ 2,841 Nine Months Ended September 30, 2023 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 72,531 $ 1,312 $ 35,313 $ — $ (17,427) $ 91,729 Interest expense 16,268 513 17,060 1,696 (17,573) 17,964 Net interest income 56,263 799 18,253 (1,696) 146 73,765 Gain on sales of loans — 4,983 — — (53) 4,930 Other noninterest income 12,759 3,413 25 840 (155) 16,882 Net revenue 69,022 9,195 18,278 (856) (62) 95,577 Provision for loan losses 1,550 — 4,250 — — 5,800 Noninterest expense 45,649 8,459 10,909 1,839 (46) 66,810 Income (loss) before taxes 21,823 736 3,119 (2,695) (16) 22,967 Income tax expense (benefit) 4,081 168 858 (790) (8) 4,309 Net income (loss) $ 17,742 $ 568 $ 2,261 $ (1,905) $ (8) $ 18,658 Other data: Capital expenditures $ 861 $ 12 $ 146 $ — $ — $ 1,019 Depreciation and amortization $ 2,558 $ 61 $ 300 $ — $ — $ 2,919 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Total assets at September 30, 2024 $ 2,435,009 $ 52,431 $ 485,201 $ 31,078 $ (452,815) $ 2,550,904 Total assets at December 31, 2023 $ 2,319,810 $ 22,177 $ 476,671 $ 35,581 $ (415,741) $ 2,438,498 The community banking segment extends two warehouse lines of credit to the mortgage banking segment, providing a portion of the funds needed to originate mortgage loans. The community banking segment charges the mortgage banking segment interest at the daily FHLB advance rate plus a spread ranging from 50 basis points to 175 basis points. The community banking segment also provides the consumer finance segment with a portion of the funds needed to purchase loan contracts by means of variable rate notes that carry interest at one-month term SOFR plus 211.5 basis points, with a floor of 3.5 percent and a ceiling of 6.0 percent, and fixed rate notes that carry interest at rates ranging from 3.8 percent to 4.0 percent. The community banking segment acquires certain residential real estate loans from the mortgage banking segment at prices similar to those paid by third-party investors. These transactions are eliminated to reach consolidated totals. In addition to unallocated expenses recorded by the holding company, certain overhead costs are incurred by the community banking segment and are not allocated to the mortgage banking and consumer finance segments.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
Commitments and Contingent Liabilities	Sep. 30, 2024
Commitments and Contingent Liabilities
Commitments and Contingent Liabilities	NOTE 11: Commitments and Contingent Liabilities The Corporation enters into commitments to extend credit in the normal course of business to meet the financing needs of its customers, including loan commitments and standby letters of credit. These instruments involve elements of credit and interest rate risk in excess of the amounts recorded on the Consolidated Balance Sheets. The Corporation’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit written is represented by the contractual amount of these instruments. The Corporation uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Collateral is obtained based on management’s credit assessment of the customer. Loan commitments are agreements to extend credit to a customer provided that there are no violations of the terms of the contract prior to funding. Commitments have fixed expiration dates or other termination clauses and may require payment of a fee by the customer. Because many of the commitments may expire without being completely drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of loan commitments at the Bank was $447.94 million at September 30, 2024 and $413.53 million at December 31, 2023, which does not include IRLCs at the mortgage banking segment, which are discussed in Note 12. Standby letters of credit are written conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The total contract amount of standby letters of credit, whose contract amounts represent credit risk, was $18.41 million at September 30, 2024 and $7.91 million at December 31, 2023. The mortgage banking segment sells the majority of the residential mortgage loans it originates to third-party investors. Additionally, the community banking segment purchases residential mortgage loans from the mortgage banking segment under terms and conditions similar to third-party investors. As is customary in the industry, the agreements with these investors require the mortgage banking segment to extend representations and warranties with respect to program compliance, borrower misrepresentation, fraud, and early payment performance. Under the agreements, the investors are entitled to make loss claims and repurchase requests of the mortgage banking segment for loans that contain covered deficiencies. The mortgage banking segment has obtained early payment default recourse waivers for a portion of its business. Recourse periods for early payment default for the remaining investors vary from 90 days up to one year. Recourse periods for borrower misrepresentation or fraud, or underwriting error do not have a stated time limit. The mortgage banking segment maintains an allowance for indemnifications that represents management’s estimate of losses that are probable of arising under these recourse provisions. As performance data for loans that have been sold is not made available to the mortgage banking segment by the investors, the estimate of potential losses is inherently subjective and is based on historical indemnification payments and management’s assessment of current conditions that may contribute to indemnified losses on mortgage loans that have been sold in the secondary market. For the three and nine months ended September 30, 2024, the Corporation recorded a net reversal of provision for indemnifications of $100,000 and $375,000, respectively, and recorded a net reversal of provision for indemnifications of $200,000 and $435,000 for the three and nine months ended September 30, 2023, respectively, which is included in “Noninterest Expenses – Other” on the Consolidated Statements of Income. No indemnification payments were made during the three and nine months ended September 30, 2024 and 2023. The allowance for indemnifications was $1.43 million and $1.81 million at September 30, 2024 and December 31, 2023, respectively.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
Derivative Financial Instruments	Sep. 30, 2024
Derivative Financial Instruments
Derivative Financial Instruments	NOTE 12: Derivative Financial Instruments The Corporation uses derivative financial instruments primarily to manage risks to the Corporation associated with changing interest rates, and to assist customers with their risk management objectives. The Corporation designates certain interest rate swaps as hedging instruments in qualifying cash flow hedges. The changes in fair value of these designated hedging instruments is reported as a component of other comprehensive income (loss). Derivative contracts that are not designated in a qualifying hedging relationship include customer accommodation loan swaps and contracts related to mortgage banking activities. Cash flow hedges All interest rate swaps were entered into with counterparties that met the Corporation’s credit standards and the agreements contain collateral provisions protecting the at-risk party. The Corporation believes that the credit risk inherent in these derivative contracts is not significant. Unrealized gains or losses recorded in other comprehensive income (loss) related to cash flow hedges are reclassified into earnings in the same period(s) during which the hedged interest payments affect earnings. When a designated hedging instrument is terminated and the hedged interest payments remain probable of occurring, any remaining unrecognized gain or loss in other comprehensive income (loss) is reclassified into earnings in the period(s) during which the forecasted interest payments affect earnings. Amounts reclassified into earnings and interest receivable or payable under designated interest rate swaps are reported in interest expense. The Corporation does not expect any unrealized losses related to cash flow hedges to be reclassified into earnings in the next twelve months. Loan swaps Mortgage banking At September 30, 2024, the mortgage banking segment had $45.58 million of IRLCs and $44.68 million of mortgage loans held for sale for which it managed interest rate risk using best-efforts forward sales contracts for $90.26 million in mortgage loans. At December 31, 2023, the mortgage banking segment had $26.15 million of IRLCs and $14.18 million of mortgage loans held for sale for which it managed interest rate risk using best-efforts forward sales contracts for $40.33 million in mortgage loans. The following tables summarize key elements of the Corporation’s derivative instruments. September 30, 2024 Notional (Dollars in thousands) Amount Assets Liabilities Cash flow hedges: Interest rate swap contracts $ 25,000 $ 865 $ 305 Not designated as hedges: Customer-related interest rate swap contracts: Matched interest rate swaps with borrower 115,837 1,727 3,173 Matched interest rate swaps with counterparty 115,837 3,173 1,727 Mortgage banking contracts: IRLCs 45,582 714 — December 31, 2023 Notional (Dollars in thousands) Amount Assets Liabilities Cash flow hedges: Interest rate swap contracts $ 25,000 $ 1,415 $ — Not designated as hedges: Customer-related interest rate swap contracts: Matched interest rate swaps with borrower 109,638 1,611 4,499 Matched interest rate swaps with counterparty 109,638 4,499 1,611 Mortgage banking contracts: IRLCs 26,152 335 — The Corporation and the Bank are required to maintain cash collateral with dealer counterparties for interest rate swap relationships in a loss position. At both September 30, 2024 and December 31, 2023, there was no cash collateral maintained with dealer counterparties.

Other Noninterest Expenses

Other Noninterest Expenses	9 Months Ended
Other Noninterest Expenses	Sep. 30, 2024
Other Noninterest Expenses.
Other Noninterest Expenses	NOTE 13: Other Noninterest Expenses The following table presents the significant components in the Consolidated Statements of Income line “Noninterest Expenses-Other.” Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Loan expenses $ 474 $ 614 $ 1,343 $ 1,760 Telecommunication expenses 372 344 1,142 970 Travel and educational expenses 221 305 747 959 Postage and courier expenses 232 250 777 744 Licenses and taxes expense 243 238 729 658 Finance payment processing expense 210 199 627 602 Provision for indemnifications (100) (200) (375) (435) Other components of net periodic pension cost (123) (114) (409) (340) All other noninterest expenses 670 704 1,918 1,888 Total other noninterest expenses $ 2,199 $ 2,340 $ 6,499 $ 6,806

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 5,389	$ 5,789	$ 13,797	$ 18,536

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation: The unaudited consolidated financial statements include the accounts of C&F Financial Corporation (the Corporation), its direct wholly-owned subsidiary, Citizens and Farmers Bank (the Bank or C&F Bank) and indirect subsidiaries that are wholly-owned or controlled. Subsidiaries that are less than wholly owned are fully consolidated if they are controlled by the Corporation or one of its subsidiaries, and the portion of any subsidiary not owned by the Corporation is reported as noncontrolling interest. All significant intercompany accounts and transactions have been eliminated in consolidation. In addition, the Corporation owns all of the common stock of C&F Financial Statutory Trust I, C&F Financial Statutory Trust II and Central Virginia Bankshares Statutory Trust I, all of which are unconsolidated subsidiaries. The subordinated debt owed to these trusts is reported as liabilities of the Corporation.
Nature of Operations	Nature of Operations: C&F Bank has five wholly-owned subsidiaries: C&F Mortgage Corporation (C&F Mortgage), C&F Finance Company (C&F Finance), C&F Wealth Management Corporation (C&F Wealth Management), C&F Insurance Services, Inc. (C&F Insurance) and CVB Title Services, Inc. (CVB Title), all incorporated under the laws of the Commonwealth of Virginia. C&F Mortgage, organized in September 1995, originates and sells residential mortgages, provides mortgage loan origination services to third-party lenders and, through its subsidiary Certified Appraisals LLC, provides ancillary mortgage loan production services for residential appraisals. C&F Mortgage owns a 51 percent interest in C&F Select LLC, which was organized in January 2019 and is also engaged in the business of originating and selling residential mortgages. C&F Finance, acquired in September 2002, is a finance company purchasing automobile, marine and recreational vehicle (RV) loans through indirect lending programs. C&F Wealth Management, organized in April 1995, is a full-service brokerage firm offering a comprehensive range of wealth management services and insurance products through third-party service providers. C&F Insurance and CVB Title were organized for the primary purpose of owning equity interests in an independent insurance agency and a full service title and settlement agency, respectively. Business segment data is presented in Note 10.
Basis of Presentation	Basis of Presentation:
Reclassification	Reclassification:
Derivative Financial Instruments	Derivative Financial Instruments: other asset other liability
Recent Significant Accounting Pronouncements	Recent Significant Accounting Pronouncements: In November 2023, FASB issued ASU 2023-09, “Income Taxes (Topic 740) – Improvements to Income Tax Disclosures.” The amendments in ASU 2023-09 require that a public entity disclose, on an annual basis, specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold, the amount of income taxes paid disaggregated by federal, state and foreign taxes, and the amount of income taxes paid disaggregated by individual jurisdictions in which income taxes paid is equal to or granter than five percent of total income taxes paid. The amendments also require that entities disclose income from continuing operations before income tax expense disaggregated between domestic and foreign, as well as income tax expense from continuing operations disaggregated by federal, state and foreign. The amendments apply to all public entities that are subject to Topic 740, “Income Taxes,” and are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments are to be applied on a prospective basis; however, retrospective application is permitted. The Corporation does not expect the adoption of ASU 2023-09 to have a material effect on its consolidated financial statements. Other accounting standards that have been issued by the FASB or other standards-setting bodies are not currently expected to have a material effect on the Corporation’s financial position, results of operations or cash flows.

Securities (Tables)

Securities (Tables)	9 Months Ended
Securities (Tables)	Sep. 30, 2024
Securities
Summary of available for sale debt securities	September 30, 2024 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value U.S. Treasury securities $ 10,977 $ — $ (293) $ 10,684 U.S. government agencies and corporations 70,396 — (6,727) 63,669 Mortgage-backed securities 177,376 1,022 (11,421) 166,977 Obligations of states and political subdivisions 148,636 1,830 (3,290) 147,176 Corporate and other debt securities 23,408 4 (2,873) 20,539 $ 430,793 $ 2,856 $ (24,604) $ 409,045 December 31, 2023 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value U.S. Treasury securities $ 45,883 $ — $ (780) $ 45,103 U.S. government agencies and corporations 96,407 — (9,313) 87,094 Mortgage-backed securities 177,734 185 (16,223) 161,696 Obligations of states and political subdivisions 148,875 2,280 (4,044) 147,111 Corporate and other debt securities 25,193 — (3,753) 21,440 $ 494,092 $ 2,465 $ (34,113) $ 462,444
Schedule of amortized cost and estimated fair value of securities, by the earlier of contractual maturity or expected maturity	September 30, 2024 Amortized (Dollars in thousands) Cost Fair Value Due in one year or less $ 71,087 $ 69,053 Due after one year through five years 175,996 164,747 Due after five years through ten years 117,701 110,577 Due after ten years 66,009 64,668 $ 430,793 $ 409,045
Schedule of gross realized gains and losses and the proceeds	Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Realized gains from sales, maturities and calls of securities: Gross realized gains $ — $ — $ — $ — Gross realized losses — — — (5) Net realized losses $ — $ — $ — $ (5) Proceeds from sales, maturities, calls and paydowns of securities $ 16,344 $ 30,719 $ 89,240 $ 75,560
Schedule of securities in an unrealized loss position	Securities in an unrealized loss position at September 30, 2024, by duration of the period of the unrealized loss, are shown below. Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss U.S. Treasury securities $ — $ — $ 10,684 $ 293 $ 10,684 $ 293 U.S. government agencies and corporations — — 63,669 6,727 63,669 6,727 Mortgage-backed securities 2,615 27 132,043 11,394 134,658 11,421 Obligations of states and political subdivisions 9,484 60 62,583 3,230 72,067 3,290 Corporate and other debt securities 484 16 19,051 2,857 19,535 2,873 Total $ 12,583 $ 103 $ 288,030 $ 24,501 $ 300,613 $ 24,604 Securities in an unrealized loss position at December 31, 2023, by duration of the period of the unrealized loss, are shown below. Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss U.S. Treasury securities $ — $ — $ 45,103 $ 780 $ 45,103 $ 780 U.S. government agencies and corporations — — 87,094 9,313 87,094 9,313 Mortgage-backed securities 5,528 68 150,023 16,155 155,551 16,223 Obligations of states and political subdivisions 4,659 72 65,630 3,972 70,289 4,044 Corporate and other debt securities 3,386 364 18,054 3,389 21,440 3,753 Total $ 13,573 $ 504 $ 365,904 $ 33,609 $ 379,477 $ 34,113

Loans (Tables)

Loans (Tables)	9 Months Ended
Loans (Tables)	Sep. 30, 2024
Loans
Summary of classes of loans	September 30, December 31, (Dollars in thousands) 2024 2023 Commercial real estate $ 701,647 $ 668,122 Commercial business 115,410 115,348 Construction - commercial real estate 155,072 69,768 Land acquisition and development 33,774 29,064 Builder lines 29,664 24,668 Construction - consumer real estate 16,874 11,223 Residential mortgage 310,595 293,256 Equity lines 59,406 51,592 Other consumer 9,667 10,588 Consumer finance – automobiles 406,385 401,276 Consumer finance - marine and recreational vehicles 70,915 67,234 Subtotal 1,909,409 1,742,139 Less allowance for credit losses (40,771) (39,651) Loans, net $ 1,868,638 $ 1,702,488
Schedule of past due status of loans	30-59 60-89 90+ 90+ Days Days Days Days Total Past Due and (Dollars in thousands) Past Due Past Due Past Due Past Due Current 1 Total Loans Accruing Commercial real estate $ 89 $ 429 $ — $ 518 $ 701,129 $ 701,647 $ — Commercial business — — — — 115,410 115,410 — Construction - commercial real estate — — — — 155,072 155,072 — Land acquisition and development — — — — 33,774 33,774 — Builder lines — — — — 29,664 29,664 — Construction - consumer real estate — — — — 16,874 16,874 — Residential mortgage 2,042 132 231 2,405 308,190 310,595 115 Equity lines — 174 89 263 59,143 59,406 89 Other consumer — — — — 9,667 9,667 — Consumer finance - automobiles 12,826 2,408 1,008 16,242 390,143 406,385 — Consumer finance - marine and recreational vehicles 228 107 93 428 70,487 70,915 — Total $ 15,185 $ 3,250 $ 1,421 $ 19,856 $ 1,889,553 $ 1,909,409 $ 204 1 For the purposes of the table above, “Current” includes loans that are 1-29 days past due. 30-59 60-89 90+ 90+ Days Days Days Days Total Past Due and (Dollars in thousands) Past Due Past Due Past Due Past Due Current 1 Total Loans Accruing Commercial real estate $ 92 $ — $ — $ 92 $ 668,030 $ 668,122 $ — Commercial business — — 1 1 115,347 115,348 1 Construction - commercial real estate — — — — 69,768 69,768 — Land acquisition and development — — — — 29,064 29,064 — Builder lines — — — — 24,668 24,668 — Construction - consumer real estate — — — — 11,223 11,223 — Residential mortgage 1,643 387 273 2,303 290,953 293,256 89 Equity lines 215 103 115 433 51,159 51,592 38 Other consumer 3 — 9 12 10,576 10,588 — Consumer finance - automobiles 15,263 2,628 892 18,783 382,493 401,276 — Consumer finance - marine and recreational vehicles 282 115 — 397 66,837 67,234 — Total $ 17,498 $ 3,233 $ 1,290 $ 22,021 $ 1,720,118 $ 1,742,139 $ 128 1
Schedule of loans on nonaccrual status	September 30, December 31, (Dollars in thousands) 2024 2023 Commercial business $ 92 $ — Residential mortgage 516 320 Equity lines 20 77 Other consumer — 9 Consumer finance - automobiles 1,008 892 Consumer finance - marine and recreational vehicles 93 — Total $ 1,729 $ 1,298
Summary of amortized cost basis of loans that were both experiencing financial difficulty and modified	Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 % of Total % of Total Class of Class of Amortized Financing Amortized Financing (Dollars in thousands) Cost Receivable Cost Receivable Term Extension Commercial real estate $ 96 0.0 % $ 96 0.0 % Residential mortgage $ — — $ 336 0.1 Total Term Extension $ 96 $ 432 Combination Term Extension and Interest Rate Reduction Residential mortgage $ — — % $ 18 0.0 % Total Combination Term Extension and Interest Rate Reduction $ — $ 18 Total $ 96 0.0 % $ 450 0.0 % Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 % of Total % of Total Class of Class of Amortized Financing Amortized Financing (Dollars in thousands) Cost Receivable Cost Receivable Term Extension Commercial real estate $ 969 0.2 % $ 969 0.2 % Residential mortgage 71 0.0 71 0.0 Total Term Extension $ 1,040 $ 1,040 Combination Term Extension and Interest Rate Reduction Commercial real estate $ — — % $ 45 0.0 % Total Combination Term Extension and Interest Rate Reduction $ — $ 45 Total $ 1,040 0.1 % $ 1,085 0.1 % Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Weighted- Weighted- Weighted- Weighted- Average Average Average Average Interest Rate Term Extension Interest Rate Term Extension (Dollars in thousands) Reduction (in years) Reduction (in years) Commercial real estate — % 1.0 — % 1.0 Residential mortgage — — 1.51 6.9 Total — % 1.0 1.51 % 5.7 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Weighted- Weighted- Weighted- Weighted- Average Average Average Average Interest Rate Term Extension Interest Rate Term Extension (Dollars in thousands) Reduction (in years) Reduction (in years) Commercial real estate — % 2.0 0.75 % 2.1 Residential mortgage — 10.0 — 10.0 Total — % 2.5 0.75 % 2.6

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	9 Months Ended
Allowance for Credit Losses (Tables)	Sep. 30, 2024
Allowance for Credit Losses
Schedule of changes in the allowance for credit and loan losses	Consumer (Dollars in thousands) Commercial Consumer Finance Total Allowance for credit losses: Balance at December 31, 2023 $ 12,315 $ 3,758 $ 23,578 $ 39,651 Provision charged to operations 1,160 440 8,100 9,700 Loans charged off — (293) (11,707) (12,000) Recoveries of loans previously charged off 28 125 3,267 3,420 Balance at September 30, 2024 $ 13,503 $ 4,030 $ 23,238 $ 40,771 Consumer (Dollars in thousands) Commercial Consumer Finance Total Allowance for credit losses: Balance at December 31, 2022 $ 11,219 $ 3,330 $ 25,969 $ 40,518 Impact of ASC 326 adoption on non-PCD loans (617) 98 406 (113) Impact of ASC 326 adoption on PCD loans 595 9 — 604 Provision charged to operations 839 362 4,250 5,451 Loans charged off (16) (240) (9,306) (9,562) Recoveries of loans previously charged off 144 136 3,070 3,350 Balance at September 30, 2023 $ 12,164 $ 3,695 $ 24,389 $ 40,248
Schedule of breakdown of provision for credit losses	Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Provision for credit losses: Provision for loans $ 3,700 $ 2,100 $ 9,700 $ 5,451 Provision for unfunded commitments — (50) 50 349 Total $ 3,700 $ 2,050 $ 9,750 $ 5,800
Schedule of loans by credit quality indicators	Revolving Revolving Term Loans Recorded Balance by Origination Year Loans Loans Recorded Converted (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Balance to Term 1 Total Commercial real estate: Loan Rating Pass $ 71,877 $ 80,522 $ 123,080 $ 143,969 $ 112,031 $ 163,489 $ — $ 112 $ 695,080 Special Mention — — — 5,624 — 943 — — 6,567 Total $ 71,877 $ 80,522 $ 123,080 $ 149,593 $ 112,031 $ 164,432 $ — $ 112 $ 701,647 Commercial business: Loan Rating Pass $ 6,189 $ 14,223 $ 19,158 $ 14,247 $ 10,710 $ 25,128 $ 25,587 $ — $ 115,242 Special Mention 24 52 — — — — — — 76 Substandard Nonaccrual — — — — — — — 92 92 Total $ 6,213 $ 14,275 $ 19,158 $ 14,247 $ 10,710 $ 25,128 $ 25,587 $ 92 $ 115,410 Construction - commercial real estate: Loan Rating Pass $ 38,479 $ 50,213 $ 61,410 $ — $ 4,970 $ — $ — $ — $ 155,072 Total $ 38,479 $ 50,213 $ 61,410 $ — $ 4,970 $ — $ — $ — $ 155,072 Land acquisition and development: Loan Rating Pass $ 19,073 $ 2,114 $ 2,662 $ 1,324 $ 8,601 $ — $ — $ — $ 33,774 Total $ 19,073 $ 2,114 $ 2,662 $ 1,324 $ 8,601 $ — $ — $ — $ 33,774 Builder lines: Loan Rating Pass $ 23,913 $ 3,436 $ 1,430 $ 481 $ — $ 404 $ — $ — $ 29,664 Total $ 23,913 $ 3,436 $ 1,430 $ 481 $ — $ 404 $ — $ — $ 29,664 Construction - consumer real estate: Loan Rating Pass $ 11,329 $ 5,099 $ 358 $ — $ — $ — $ 88 $ — $ 16,874 Total $ 11,329 $ 5,099 $ 358 $ — $ — $ — $ 88 $ — $ 16,874 Residential mortgage: Loan Rating Pass $ 39,210 $ 58,659 $ 84,733 $ 40,701 $ 36,323 $ 49,080 $ — $ — $ 308,706 Special Mention — 869 — — — 223 — — 1,092 Substandard — — — — 102 179 — — 281 Substandard Nonaccrual 128 — — — — 388 — — 516 Total $ 39,338 $ 59,528 $ 84,733 $ 40,701 $ 36,425 $ 49,870 $ — $ — $ 310,595 Equity lines: Loan Rating Pass $ 23 $ — $ — $ — $ 70 $ 839 $ 58,050 $ 239 $ 59,221 Special Mention — — — — — — — 76 76 Substandard — — — — — — — 89 89 Substandard Nonaccrual — — — — — — — 20 20 Total $ 23 $ — $ — $ — $ 70 $ 839 $ 58,050 $ 424 $ 59,406 Other consumer: Loan Rating Pass $ 3,842 $ 2,841 $ 1,828 $ 336 $ 163 $ 611 $ 46 $ — $ 9,667 Total $ 3,842 $ 2,841 $ 1,828 $ 336 $ 163 $ 611 $ 46 $ — $ 9,667 Total: Loan Rating Pass $ 213,935 $ 217,107 $ 294,659 $ 201,058 $ 172,868 $ 239,551 $ 83,771 $ 351 $ 1,423,300 Special Mention 24 921 — 5,624 — 1,166 — 76 7,811 Substandard — — — — 102 179 — 89 370 Substandard Nonaccrual 128 — — — — 388 — 112 628 Total $ 214,087 $ 218,028 $ 294,659 $ 206,682 $ 172,970 $ 241,284 $ 83,771 $ 628 $ 1,432,109 1 Equity lines include $154,000 of revolving loans converted to term during the nine months ended September 30, 2024. Revolving Revolving Term Loans Recorded Balance by Origination Year Loans Loans Recorded Converted (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Balance to Term 1 Total Commercial real estate: Loan Rating Pass $ 81,324 $ 125,278 $ 155,805 $ 121,365 $ 37,383 $ 140,158 $ — $ 119 $ 661,432 Special Mention — — 5,731 — — 959 — — 6,690 Total $ 81,324 $ 125,278 $ 161,536 $ 121,365 $ 37,383 $ 141,117 $ — $ 119 $ 668,122 Commercial business: Loan Rating Pass $ 18,682 $ 18,190 $ 17,219 $ 12,062 $ 14,847 $ 15,339 $ 18,686 $ 261 $ 115,286 Special Mention 62 — — — — — — — 62 Total $ 18,744 $ 18,190 $ 17,219 $ 12,062 $ 14,847 $ 15,339 $ 18,686 $ 261 $ 115,348 Construction - commercial real estate: Loan Rating Pass $ 29,346 $ 36,907 $ — $ 3,515 $ — $ — $ — $ — $ 69,768 Total $ 29,346 $ 36,907 $ — $ 3,515 $ — $ — $ — $ — $ 69,768 Land acquisition and development: Loan Rating Pass $ 4,562 $ 4,665 $ 9,844 $ 9,993 $ — $ — $ — $ — $ 29,064 Total $ 4,562 $ 4,665 $ 9,844 $ 9,993 $ — $ — $ — $ — $ 29,064 Builder lines: Loan Rating Pass $ 17,919 $ 5,124 $ 1,221 $ — $ 404 $ — $ — $ — $ 24,668 Total $ 17,919 $ 5,124 $ 1,221 $ — $ 404 $ — $ — $ — $ 24,668 Construction - consumer real estate: Loan Rating Pass $ 7,889 $ 3,240 $ — $ — $ — $ — $ 94 $ — $ 11,223 Total $ 7,889 $ 3,240 $ — $ — $ — $ — $ 94 $ — $ 11,223 Residential mortgage: Loan Rating Pass $ 59,441 $ 91,086 $ 44,292 $ 40,089 $ 11,524 $ 46,192 $ — $ — $ 292,624 Special Mention — — — — — 44 — — 44 Substandard — — — 103 — 165 — — 268 Substandard Nonaccrual — — — — 62 258 — — 320 Total $ 59,441 $ 91,086 $ 44,292 $ 40,192 $ 11,586 $ 46,659 $ — $ — $ 293,256 Equity lines: Loan Rating Pass $ — $ — $ 34 $ 70 $ — $ 857 $ 50,120 $ 344 $ 51,425 Special Mention — — — — — — — 85 85 Substandard — — — — 5 — — — 5 Substandard Nonaccrual — — — — — 9 — 68 77 Total $ — $ — $ 34 $ 70 $ 5 $ 866 $ 50,120 $ 497 $ 51,592 Other consumer: Loan Rating Pass $ 6,263 $ 2,762 $ 606 $ 282 $ 101 $ 519 $ 46 $ — $ 10,579 Substandard Nonaccrual — — — — 9 — — — 9 Total $ 6,263 $ 2,762 $ 606 $ 282 $ 110 $ 519 $ 46 $ — $ 10,588 Total: Loan Rating Pass $ 225,426 $ 287,252 $ 229,021 $ 187,376 $ 64,259 $ 203,065 $ 68,946 $ 724 $ 1,266,069 Special Mention 62 — 5,731 — — 1,003 — 85 6,881 Substandard — — — 103 5 165 — — 273 Substandard Nonaccrual — — — — 71 267 — 68 406 Total $ 225,488 $ 287,252 $ 234,752 $ 187,479 $ 64,335 $ 204,500 $ 68,946 $ 877 $ 1,273,629 1 All balances shown in this column were converted to term during the year ended December 31, 2023. Revolving Term Loans Recorded Balance by Origination Year Loans Revolving Converted (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Loans to Term Total Consumer finance - automobiles: Credit rating 1 Very good $ 19,654 $ 11,317 $ 8,863 $ 2,796 $ 550 $ 125 $ — $ — $ 43,305 Good 32,490 28,443 32,578 10,822 1,948 514 — — 106,795 Fairly good 34,183 36,945 41,542 19,129 3,878 2,274 — — 137,951 Fair 19,812 23,501 27,507 15,261 4,392 2,988 — — 93,461 Marginal 3,940 4,875 6,473 5,571 2,056 1,958 — — 24,873 Total $ 110,079 $ 105,081 $ 116,963 $ 53,579 $ 12,824 $ 7,859 $ — $ — $ 406,385 Consumer finance - marine and recreational vehicles: Credit rating 1 Very good $ 8,523 $ 6,487 $ 13,137 $ 8,397 $ 8,277 $ 4,003 $ — $ — $ 48,824 Good 4,589 6,593 7,135 1,395 1,208 684 — — 21,604 Fairly good — 203 186 35 28 35 — — 487 Total $ 13,112 $ 13,283 $ 20,458 $ 9,827 $ 9,513 $ 4,722 $ — $ — $ 70,915 Total: Credit rating 1 Very good $ 28,177 $ 17,804 $ 22,000 $ 11,193 $ 8,827 $ 4,128 $ — $ — $ 92,129 Good 37,079 35,036 39,713 12,217 3,156 1,198 — — 128,399 Fairly good 34,183 37,148 41,728 19,164 3,906 2,309 — — 138,438 Fair 19,812 23,501 27,507 15,261 4,392 2,988 — — 93,461 Marginal 3,940 4,875 6,473 5,571 2,056 1,958 — — 24,873 Total $ 123,191 $ 118,364 $ 137,421 $ 63,406 $ 22,337 $ 12,581 $ — $ — $ 477,300 1 Credit ratings with a FICO score greater than 739 are considered Very Good, FICO scores ranging from 670-739 are considered Good, FICO scores ranging from 625-669 are considered Fairly Good, FICO scores ranging from 580-624 are considered Fair and FICO scores less than 580 are considered Marginal. Revolving Term Loans Recorded Balance by Origination Year Loans Revolving Converted (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Loans to Term Total Consumer finance - automobiles: Credit rating 1 Very good $ 14,916 $ 12,395 $ 4,291 $ 1,012 $ 277 $ 22 $ — $ — $ 32,913 Good 35,203 42,800 15,530 3,338 1,090 325 — — 98,286 Fairly good 44,227 54,968 26,645 6,186 3,984 1,470 — — 137,480 Fair 28,779 36,794 22,266 7,014 4,808 1,908 — — 101,569 Marginal 6,359 8,956 7,715 3,322 2,832 1,844 — — 31,028 Total $ 129,484 $ 155,913 $ 76,447 $ 20,872 $ 12,991 $ 5,569 $ — $ — $ 401,276 Consumer finance - marine and recreational vehicles: Credit rating 1 Very good $ 7,481 $ 15,000 $ 9,857 $ 9,952 $ 2,518 $ 2,438 $ — $ — $ 47,246 Good 7,419 8,130 1,602 1,384 410 453 — — 19,398 Fairly good 265 221 37 30 — 37 — — 590 Total $ 15,165 $ 23,351 $ 11,496 $ 11,366 $ 2,928 $ 2,928 $ — $ — $ 67,234 Total: Credit rating 1 Very good $ 22,397 $ 27,395 $ 14,148 $ 10,964 $ 2,795 $ 2,460 $ — $ — $ 80,159 Good 42,622 50,930 17,132 4,722 1,500 778 — — 117,684 Fairly good 44,492 55,189 26,682 6,216 3,984 1,507 — — 138,070 Fair 28,779 36,794 22,266 7,014 4,808 1,908 — — 101,569 Marginal 6,359 8,956 7,715 3,322 2,832 1,844 — — 31,028 Total $ 144,649 $ 179,264 $ 87,943 $ 32,238 $ 15,919 $ 8,497 $ — $ — $ 468,510 1 Credit ratings with a FICO score greater than 739 are considered Very Good, FICO scores ranging from 670-739 are considered Good, FICO scores ranging from 625-669 are considered Fairly Good, FICO scores ranging from 580-624 are considered Fair and FICO scores less than 580 are considered Marginal. Revolving Current Period Gross Charge-offs by Origination Year Loans Revolving Converted (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Loans to Term Total Residential mortgage $ 3 $ — $ — $ — $ — $ — $ — $ — $ 3 Other consumer 1 204 19 5 — — 62 — — 290 Consumer finance - automobiles 367 2,275 5,053 2,691 457 573 — — 11,416 Consumer finance - marine and recreational vehicles — 56 160 34 27 14 — — 291 Total $ 574 $ 2,350 $ 5,218 $ 2,725 $ 484 $ 649 $ — $ — $ 12,000 1 Gross charge-offs of other consumer loans for the nine months ended September 30, 2024 included $193,000 of demand deposit overdrafts that originated in 2024. Revolving Current Period Gross Charge-offs by Origination Year Loans Revolving Converted (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Loans to Term Total Commercial business $ — $ 16 $ — $ — $ — $ — $ — $ — $ 16 Equity lines — — — — — 8 — — 8 Other consumer 1 199 25 — 3 2 3 — — 232 Consumer finance - automobiles 490 4,396 2,628 583 477 567 — — 9,141 Consumer finance - marine and recreational vehicles — 82 — 40 6 37 — — 165 Total $ 689 $ 4,519 $ 2,628 $ 626 $ 485 $ 615 $ — $ — $ 9,562 1 Gross charge-offs of other consumer loans for the nine months ended September 30, 2023 included $199,000 of demand deposit overdrafts that originated in 2023.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
Goodwill and Other Intangible Assets (Tables)	Sep. 30, 2024
Goodwill and Other Intangible Assets
Schedule of gross carrying amounts and accumulated amortization of other intangible assets	September 30, December 31, 2024 2023 Gross Gross Carrying Accumulated Carrying Accumulated (Dollars in thousands) Amount Amortization Amount Amortization Amortizable intangible assets: Core deposit intangibles $ 1,711 $ (673) $ 1,711 $ (588) Other amortizable intangibles 1,405 (1,232) 1,405 (1,121) Total $ 3,116 $ (1,905) $ 3,116 $ (1,709)

Equity, Other Comprehensive I_2

Equity, Other Comprehensive Income (Loss) and Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Equity, Other Comprehensive Income (Loss) and Earnings Per Share
Schedule of the components of accumulated other comprehensive loss, net of deferred taxes	Securities Defined Cash Available Benefit Flow (Dollars in thousands) For Sale Plan Hedges Total Accumulated other comprehensive (loss) income at June 30, 2024 $ (25,439) $ (2,736) $ 1,076 $ (27,099) Other comprehensive income (loss) arising during the period 10,453 — (864) 9,589 Related income tax effects (2,195) — 222 (1,973) 8,258 — (642) 7,616 Reclassifications into net income — 20 — 20 Related income tax effects — (4) — (4) — 16 — 16 Other comprehensive income (loss), net of tax 8,258 16 (642) 7,632 Accumulated other comprehensive (loss) income at September 30, 2024 $ (17,181) $ (2,720) $ 434 $ (19,467) Securities Defined Cash Available Benefit Flow (Dollars in thousands) For Sale Plan Hedges Total Accumulated other comprehensive (loss) income at June 30, 2023 $ (33,635) $ (3,195) $ 1,424 $ (35,406) Other comprehensive (loss) income arising during the period (7,369) — 179 (7,190) Related income tax effects 1,548 — (45) 1,503 (5,821) — 134 (5,687) Reclassifications into net income — 25 (1) 24 Related income tax effects — (5) — (5) — 20 (1) 19 Other comprehensive (loss) income, net of tax (5,821) 20 133 (5,668) Accumulated other comprehensive (loss) income at September 30, 2023 $ (39,456) $ (3,175) $ 1,557 $ (41,074) Securities Defined Cash Available Benefit Flow (Dollars in thousands) For Sale Plan Hedges Total Accumulated other comprehensive (loss) income at December 31, 2023 $ (25,002) $ (2,752) $ 1,067 $ (26,687) Other comprehensive income (loss) arising during the period 9,900 — (847) 9,053 Related income tax effects (2,079) — 218 (1,861) 7,821 — (629) 7,192 Reclassifications into net income — 40 (5) 35 Related income tax effects — (8) 1 (7) — 32 (4) 28 Other comprehensive income (loss), net of tax 7,821 32 (633) 7,220 Accumulated other comprehensive (loss) income at September 30, 2024 $ (17,181) $ (2,720) $ 434 $ (19,467) Securities Defined Cash Available Benefit Flow (Dollars in thousands) For Sale Plan Hedges Total Accumulated other comprehensive (loss) income at December 31, 2022 $ (35,184) $ (3,236) $ 1,462 $ (36,958) Other comprehensive income (loss) arising during the period (5,413) — 131 (5,282) Related income tax effects 1,137 — (32) 1,105 (4,276) — 99 (4,177) Reclassifications into net income 5 77 (5) 77 Related income tax effects (1) (16) 1 (16) 4 61 (4) 61 Other comprehensive income (loss), net of tax (4,272) 61 95 (4,116) Accumulated other comprehensive (loss) income at September 30, 2023 $ (39,456) $ (3,175) $ 1,557 $ (41,074)
Schedule of reclassifications from accumulated other comprehensive loss	Three Months Ended September 30, Nine Months Ended September 30, Line Item In the Consolidated (Dollars in thousands) 2024 2023 2024 2023 Statements of Income Securities available for sale: Reclassification of net realized losses into net income $ — $ — $ — $ (5) Net losses on sales, maturities and calls of available for sale securities Related income tax effects — — — 1 Income tax expense — — — (4) Net of tax Defined benefit plan: 1 Reclassification of recognized net actuarial losses into net income (38) (42) (92) (128) Noninterest expenses - Other Amortization of prior service credit into net income 18 17 52 51 Noninterest expenses - Other Related income tax effects 4 5 8 16 Income tax expense (16) (20) (32) (61) Net of tax Cash flow hedges: Amortization of hedging gains into net income — 1 5 5 Interest expense - Trust preferred capital notes Related income tax effects — — (1) (1) Income tax expense — 1 4 4 Net of tax Total reclassifications into net income $ (16) $ (19) $ (28) $ (61) 1 See “Note 8: Employee Benefit Plans,” for additional information.
Schedule of components earnings per share calculations	Three Months Ended September 30, (Dollars in thousands) 2024 2023 Net income attributable to C&F Financial Corporation $ 5,389 $ 5,789 Weighted average shares outstanding — 3,258,420 3,391,624 Nine Months Ended September 30, (Dollars in thousands) 2024 2023 Net income attributable to C&F Financial Corporation $ 13,797 $ 18,536 Weighted average shares outstanding — 3,323,942 3,426,845

Share-Based Plans (Tables)

Share-Based Plans (Tables)	9 Months Ended
Share-Based Plans (Tables)	Sep. 30, 2024
Share-Based Plans
Summary of activity for restricted stock awards	2024 Weighted- Average Grant Date Shares Fair Value Unvested, December 31, 2023 135,694 $ 52.13 Granted 17,975 46.81 Vested (32,061) 49.13 Forfeited (1,435) 53.69 Unvested, September 30, 2024 120,173 52.12 2023 Weighted- Average Grant Date Shares Fair Value Unvested, December 31, 2022 145,677 $ 48.88 Granted 18,540 57.32 Vested (30,043) 51.53 Forfeited (3,545) 49.37 Unvested, September 30, 2023 130,629 55.36

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
Employee Benefit Plans (Tables)	Sep. 30, 2024
Employee Benefit Plans
Schedule of net periodic benefit costs	Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Components of net periodic benefit cost: Service cost, included in salaries and employee benefits $ 339 $ 344 $ 1,076 $ 1,032 Other components of net periodic benefit cost: Interest cost 203 182 582 546 Expected return on plan assets (346) (321) (1,031) (963) Amortization of prior service credit (18) (17) (52) (51) Recognized net actuarial losses 38 42 92 128 Other components of net periodic benefit cost, included in other noninterest expense (123) (114) (409) (340) Net periodic benefit cost $ 216 $ 230 $ 667 $ 692

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	9 Months Ended
Fair Value of Assets and Liabilities (Tables)	Sep. 30, 2024
Fair Value of Assets and Liabilities
Schedule of balances of financial assets and liabilities measured at fair value on a recurring basis	September 30, 2024 Fair Value Measurements Classified as Assets/Liabilities at (Dollars in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Securities available for sale U.S. Treasury securities $ — $ 10,684 $ — $ 10,684 U.S. government agencies and corporations — 63,669 — 63,669 Mortgage-backed securities — 166,977 — 166,977 Obligations of states and political subdivisions — 147,176 — 147,176 Corporate and other debt securities — 20,539 — 20,539 Total securities available for sale — 409,045 — 409,045 Loans held for sale — 44,677 — 44,677 Other investments — 3,919 — 3,919 Derivatives IRLC — 714 — 714 Interest rate swaps on loans — 4,900 — 4,900 Cash flow hedges — 865 — 865 Total assets $ — $ 464,120 $ — $ 464,120 Liabilities: Derivatives Interest rate swaps on loans $ — $ 4,900 $ — $ 4,900 Cash flow hedges — 305 — 305 Total liabilities $ — $ 5,205 $ — $ 5,205 December 31, 2023 Fair Value Measurements Classified as Assets/Liabilities at (Dollars in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Securities available for sale U.S. Treasury securities $ — $ 45,103 $ — $ 45,103 U.S. government agencies and corporations — 87,094 — 87,094 Mortgage-backed securities — 161,696 — 161,696 Obligations of states and political subdivisions — 147,111 — 147,111 Corporate and other debt securities — 21,440 — 21,440 Total securities available for sale — 462,444 — 462,444 Loans held for sale — 14,176 — 14,176 Other investments — 3,751 — 3,751 Derivatives IRLC — 335 — 335 Interest rate swaps on loans — 6,110 — 6,110 Cash flow hedges — 1,415 — 1,415 Total assets $ — $ 488,231 $ — $ 488,231 Liabilities: Derivatives Interest rate swaps on loans $ — $ 6,110 $ — $ 6,110 Total liabilities $ — $ 6,110 $ — $ 6,110
Schedule of carrying amounts and estimated fair values of financial instruments	Carrying Fair Value Measurements at September 30, 2024 Classified as Total Fair (Dollars in thousands) Value Level 1 Level 2 Level 3 Value Financial assets: Cash and short-term investments $ 50,703 $ 49,193 $ 1,510 $ — $ 50,703 Securities available for sale 409,045 — 409,045 — 409,045 Loans, net 1,868,638 — — 1,823,821 1,823,821 Loans held for sale 44,677 — 44,677 — 44,677 Other investments 3,919 — 3,919 — 3,919 Derivatives IRLC 714 — 714 — 714 Interest rate swaps on loans 4,900 — 4,900 — 4,900 Cash flow hedges 865 — 865 — 865 Bank-owned life insurance 21,827 — 21,827 — 21,827 Accrued interest receivable 10,198 10,198 — — 10,198 Financial liabilities: Demand and savings deposits 1,325,040 1,325,040 — — 1,325,040 Time deposits 810,851 — 807,686 — 807,686 Borrowings 134,076 — 125,192 — 125,192 Derivatives Interest rate swaps on loans 4,900 — 4,900 — 4,900 Cash flow hedges 305 — 305 — 305 Accrued interest payable 3,967 3,967 — — 3,967 Carrying Fair Value Measurements at December 31, 2023 Classified as Total Fair (Dollars in thousands) Value Level 1 Level 2 Level 3 Value Financial assets: Cash and short-term investments $ 77,403 $ 75,159 $ 2,244 $ — $ 77,403 Securities available for sale 462,444 — 462,444 — 462,444 Loans, net 1,702,488 — — 1,643,462 1,643,462 Loans held for sale 14,176 — 14,176 — 14,176 Other investments 3,751 — 3,751 — 3,751 Derivatives IRLC 335 — 335 — 335 Interest rate swaps on loans 6,110 — 6,110 — 6,110 Cash flow hedges 1,415 — 1,415 — 1,415 Bank-owned life insurance 21,464 — 21,464 — 21,464 Accrued interest receivable 10,398 10,398 — — 10,398 Financial liabilities: Demand and savings deposits 1,392,931 1,392,931 — — 1,392,931 Time deposits 673,199 — 668,965 — 668,965 Borrowings 103,618 — 90,120 — 90,120 Derivatives Interest rate swaps on loans 6,110 — 6,110 — 6,110 Accrued interest payable 3,493 3,493 — — 3,493

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
Business Segments (Tables)	Sep. 30, 2024
Business Segments
Schedule of segment reporting information, by segment	Three Months Ended September 30, 2024 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 29,087 $ 597 $ 12,676 $ — $ (6,229) $ 36,131 Interest expense 10,822 307 6,025 621 (6,333) 11,442 Net interest income 18,265 290 6,651 (621) 104 24,689 Gain on sales of loans — 1,704 — — 121 1,825 Other noninterest income 4,599 1,203 197 1,020 (72) 6,947 Net revenue 22,864 3,197 6,848 399 153 33,461 Provision for credit losses 700 — 3,000 — — 3,700 Noninterest expense 15,587 2,725 3,418 1,378 (17) 23,091 Income (loss) before taxes 6,577 472 430 (979) 170 6,670 Income tax expense (benefit) 1,240 121 119 (265) 35 1,250 Net income (loss) $ 5,337 $ 351 $ 311 $ (714) $ 135 $ 5,420 Other data: Capital expenditures $ 2,026 $ 6 $ — $ — $ — $ 2,032 Depreciation and amortization $ 843 $ 18 $ 84 $ — $ — $ 945 Three Months Ended September 30, 2023 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 25,066 $ 517 $ 12,020 $ — $ (5,917) $ 31,686 Interest expense 6,675 232 5,748 548 (5,979) 7,224 Net interest income 18,391 285 6,272 (548) 62 24,462 Gain on sales of loans — 1,198 — — 22 1,220 Other noninterest income 4,415 1,144 (19) (496) (50) 4,994 Net revenue 22,806 2,627 6,253 (1,044) 34 30,676 Provision for loan losses 500 — 1,550 — — 2,050 Noninterest expense 15,323 2,631 3,761 (172) (17) 21,526 Income (loss) before taxes 6,983 (4) 942 (872) 51 7,100 Income tax expense (benefit) 1,298 1 260 (246) 10 1,323 Net income (loss) $ 5,685 $ (5) $ 682 $ (626) $ 41 $ 5,777 Other data: Capital expenditures $ 251 $ 12 $ 146 $ — $ — $ 409 Depreciation and amortization $ 838 $ 18 $ 100 $ — $ — $ 956 Nine Months Ended September 30, 2024 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 82,691 $ 1,411 $ 37,084 $ — $ (18,035) $ 103,151 Interest expense 29,768 595 17,722 1,708 (18,317) 31,476 Net interest income 52,923 816 19,362 (1,708) 282 71,675 Gain on sales of loans — 5,048 — — (234) 4,814 Other noninterest income 12,874 3,443 678 1,979 (200) 18,774 Net revenue 65,797 9,307 20,040 271 (152) 95,263 Provision for loan losses 1,650 — 8,100 — — 9,750 Noninterest expense 47,153 7,938 10,363 3,208 (48) 68,614 Income (loss) before taxes 16,994 1,369 1,577 (2,937) (104) 16,899 Income tax expense (benefit) 3,074 348 435 (825) (22) 3,010 Net income (loss) $ 13,920 $ 1,021 $ 1,142 $ (2,112) $ (82) $ 13,889 Other data: Capital expenditures $ 2,842 $ 103 $ 111 $ — $ — $ 3,056 Depreciation and amortization $ 2,536 $ 52 $ 253 $ — $ — $ 2,841 Nine Months Ended September 30, 2023 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 72,531 $ 1,312 $ 35,313 $ — $ (17,427) $ 91,729 Interest expense 16,268 513 17,060 1,696 (17,573) 17,964 Net interest income 56,263 799 18,253 (1,696) 146 73,765 Gain on sales of loans — 4,983 — — (53) 4,930 Other noninterest income 12,759 3,413 25 840 (155) 16,882 Net revenue 69,022 9,195 18,278 (856) (62) 95,577 Provision for loan losses 1,550 — 4,250 — — 5,800 Noninterest expense 45,649 8,459 10,909 1,839 (46) 66,810 Income (loss) before taxes 21,823 736 3,119 (2,695) (16) 22,967 Income tax expense (benefit) 4,081 168 858 (790) (8) 4,309 Net income (loss) $ 17,742 $ 568 $ 2,261 $ (1,905) $ (8) $ 18,658 Other data: Capital expenditures $ 861 $ 12 $ 146 $ — $ — $ 1,019 Depreciation and amortization $ 2,558 $ 61 $ 300 $ — $ — $ 2,919 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Total assets at September 30, 2024 $ 2,435,009 $ 52,431 $ 485,201 $ 31,078 $ (452,815) $ 2,550,904 Total assets at December 31, 2023 $ 2,319,810 $ 22,177 $ 476,671 $ 35,581 $ (415,741) $ 2,438,498

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
Derivative Financial Instruments (Tables)	Sep. 30, 2024
Derivative Financial Instruments
Schedule of key elements of derivative instruments other than forward sales of mortgage loans	September 30, 2024 Notional (Dollars in thousands) Amount Assets Liabilities Cash flow hedges: Interest rate swap contracts $ 25,000 $ 865 $ 305 Not designated as hedges: Customer-related interest rate swap contracts: Matched interest rate swaps with borrower 115,837 1,727 3,173 Matched interest rate swaps with counterparty 115,837 3,173 1,727 Mortgage banking contracts: IRLCs 45,582 714 — December 31, 2023 Notional (Dollars in thousands) Amount Assets Liabilities Cash flow hedges: Interest rate swap contracts $ 25,000 $ 1,415 $ — Not designated as hedges: Customer-related interest rate swap contracts: Matched interest rate swaps with borrower 109,638 1,611 4,499 Matched interest rate swaps with counterparty 109,638 4,499 1,611 Mortgage banking contracts: IRLCs 26,152 335 —

Other Noninterest Expenses (Tab

Other Noninterest Expenses (Tables)	9 Months Ended
Other Noninterest Expenses (Tables)	Sep. 30, 2024
Other Noninterest Expenses.
Schedule of other noninterest expense	Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Loan expenses $ 474 $ 614 $ 1,343 $ 1,760 Telecommunication expenses 372 344 1,142 970 Travel and educational expenses 221 305 747 959 Postage and courier expenses 232 250 777 744 Licenses and taxes expense 243 238 729 658 Finance payment processing expense 210 199 627 602 Provision for indemnifications (100) (200) (375) (435) Other components of net periodic pension cost (123) (114) (409) (340) All other noninterest expenses 670 704 1,918 1,888 Total other noninterest expenses $ 2,199 $ 2,340 $ 6,499 $ 6,806

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Nature of Operations and Derivative Financial Instruments (Details)	Sep. 30, 2024 subsidiary
Nature of Operations
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets.
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities
C&F Bank
Nature of Operations
Number of wholly owned subsidiaries	5
C&F Mortgage \| C&F Select LLC
Nature of Operations
Interest owned (as a percent)	51%

Securities - Available for sale

Securities - Available for sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 430,793	$ 494,092
Gross Unrealized Gains	2,856	2,465
Gross Unrealized Losses	(24,604)	(34,113)
Fair Value	409,045	462,444
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,977	45,883
Gross Unrealized Losses	(293)	(780)
Fair Value	10,684	45,103
U.S. government agencies and corporations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	70,396	96,407
Gross Unrealized Losses	(6,727)	(9,313)
Fair Value	63,669	87,094
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	177,376	177,734
Gross Unrealized Gains	1,022	185
Gross Unrealized Losses	(11,421)	(16,223)
Fair Value	166,977	161,696
Obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	148,636	148,875
Gross Unrealized Gains	1,830	2,280
Gross Unrealized Losses	(3,290)	(4,044)
Fair Value	147,176	147,111
Corporate and other debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	23,408	25,193
Gross Unrealized Gains	4
Gross Unrealized Losses	(2,873)	(3,753)
Fair Value	$ 20,539	$ 21,440

Securities - Maturities and Rea

Securities - Maturities and Realized Gains and Losses (Details) $ in Thousands	3 Months Ended		9 Months Ended		24 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) security	Sep. 30, 2023 USD ($) security	Dec. 31, 2024 security	Dec. 31, 2023 USD ($)
Securities
Exclude accrued interest receivable from the amortized cost basis of securities	$ 2,270		$ 2,270
Amortized Cost
Due in one year or less	71,087		71,087
Due after one year through five years	175,996		175,996
Due after five years through ten years	117,701		117,701
Due after ten years	66,009		66,009
Amortized Cost	430,793		430,793			$ 494,092
Fair Value
Due in one year or less	69,053		69,053
Due after one year through five years	164,747		164,747
Due after five years through ten years	110,577		110,577
Due after ten years	64,668		64,668
Fair Value	409,045		$ 409,045			$ 462,444
Realized Gains and Losses
Number of securities sales \| security			0	0	0
Gross realized losses				$ (5)
Net realized losses				(5)
Proceeds from sales, maturities, calls and paydowns of securities	$ 16,344	$ 30,719	$ 89,240	$ 75,560

Securities - Pledged as Collate

Securities - Pledged as Collateral (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Available for sale securities
Amortized Cost	$ 430,793	$ 494,092
Fair Value	409,045	462,444
Securities Pledged as Collateral
Available for sale securities
Amortized Cost	183,100	215,970
Fair Value	$ 170,800	$ 198,850

Securities - Unrealized Loss Po

Securities - Unrealized Loss Positions (Details)	9 Months Ended
Securities - Unrealized Loss Positions (Details)	Sep. 30, 2024 USD ($) security	Dec. 31, 2023 USD ($)
Fair value
Less Than 12 Months, Fair Value	$ 12,583,000	$ 13,573,000
12 Months or More, Fair Value	288,030,000	365,904,000
Total Fair Value	300,613,000	379,477,000
Unrealized Loss
Less Than 12 Months, Unrealized Loss	103,000	504,000
12 Months or More, Unrealized Loss	24,501,000	33,609,000
Total Unrealized Loss	$ 24,604,000	34,113,000
Other information
Number of positions \| security	465
Aggregate fair value	$ 300,613,000	379,477,000
Other than temporary impairment	0
U.S. Treasury securities
Fair value
12 Months or More, Fair Value	10,684,000	45,103,000
Total Fair Value	10,684,000	45,103,000
Unrealized Loss
12 Months or More, Unrealized Loss	293,000	780,000
Total Unrealized Loss	293,000	780,000
Other information
Aggregate fair value	10,684,000	45,103,000
U.S. government agencies and corporations
Fair value
12 Months or More, Fair Value	63,669,000	87,094,000
Total Fair Value	63,669,000	87,094,000
Unrealized Loss
12 Months or More, Unrealized Loss	6,727,000	9,313,000
Total Unrealized Loss	6,727,000	9,313,000
Other information
Aggregate fair value	63,669,000	87,094,000
Mortgage-backed securities
Fair value
Less Than 12 Months, Fair Value	2,615,000	5,528,000
12 Months or More, Fair Value	132,043,000	150,023,000
Total Fair Value	134,658,000	155,551,000
Unrealized Loss
Less Than 12 Months, Unrealized Loss	27,000	68,000
12 Months or More, Unrealized Loss	11,394,000	16,155,000
Total Unrealized Loss	11,421,000	16,223,000
Other information
Aggregate fair value	134,658,000	155,551,000
Obligations of states and political subdivisions
Fair value
Less Than 12 Months, Fair Value	9,484,000	4,659,000
12 Months or More, Fair Value	62,583,000	65,630,000
Total Fair Value	72,067,000	70,289,000
Unrealized Loss
Less Than 12 Months, Unrealized Loss	60,000	72,000
12 Months or More, Unrealized Loss	3,230,000	3,972,000
Total Unrealized Loss	3,290,000	4,044,000
Other information
Aggregate fair value	72,067,000	70,289,000
Corporate and other debt securities
Fair value
Less Than 12 Months, Fair Value	484,000	3,386,000
12 Months or More, Fair Value	19,051,000	18,054,000
Total Fair Value	19,535,000	21,440,000
Unrealized Loss
Less Than 12 Months, Unrealized Loss	16,000	364,000
12 Months or More, Unrealized Loss	2,857,000	3,389,000
Total Unrealized Loss	2,873,000	3,753,000
Other information
Aggregate fair value	$ 19,535,000	$ 21,440,000

Securities - Restricted Stocks

Securities - Restricted Stocks and others (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Securities
Investment in restricted stock	$ 4,540,000	$ 2,930,000
Restricted stocks, other-than-temporary impairment	$ 0

Loans - Classes of Loans (Detai

Loans - Classes of Loans (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Exclude accrued interest receivable from the amortized cost basis of loans	$ 7,930,000	$ 7,650,000
Subtotal	1,909,409,000	1,742,139,000
Less allowance for credit losses	(40,771,000)	(39,651,000)	$ (40,248,000)	$ (40,518,000)
Loans, net	1,868,638,000	1,702,488,000
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	701,647,000	668,122,000
Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	115,410,000	115,348,000
Construction - commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	155,072,000	69,768,000
Land acquisition and development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	33,774,000	29,064,000
Builder lines
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	29,664,000	24,668,000
Construction - consumer real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	16,874,000	11,223,000
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	310,595,000	293,256,000
Equity lines
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	59,406,000	51,592,000
Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	9,667,000	10,588,000
Amount included related to demand deposit overdrafts	210,000	228,000
Consumer finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	477,300,000	468,510,000
Less allowance for credit losses	(23,238,000)	(23,578,000)	$ (24,389,000)	$ (25,969,000)
Consumer finance \| Automobiles
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	406,385,000	401,276,000
Consumer finance \| Marine and recreational vehicles
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	$ 70,915,000	$ 67,234,000

Loans - Loan Portfolio by Class

Loans - Loan Portfolio by Class (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	$ 1,909,409,000	$ 1,742,139,000
90+ Days Past Due and Accruing	204,000	128,000
Loans on nonaccrual status	1,729,000	1,298,000
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	15,185,000	17,498,000
Loans on nonaccrual status	156,000
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	3,250,000	3,233,000
Loans on nonaccrual status	115,000	22,000
90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	1,421,000	1,290,000
Loans on nonaccrual status	1,220,000	1,160,000
Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	19,856,000	22,021,000
Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	1,889,553,000	1,720,118,000
Loans on nonaccrual status	240,000	113,000
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	701,647,000	668,122,000
Commercial real estate \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	89,000	92,000
Commercial real estate \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	429,000
Commercial real estate \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	518,000	92,000
Commercial real estate \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	701,129,000	668,030,000
Commercial business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	115,410,000	115,348,000
90+ Days Past Due and Accruing		1,000
Loans on nonaccrual status	92,000
Commercial business \| 90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross		1,000
Commercial business \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross		1,000
Commercial business \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	115,410,000	115,347,000
Construction - commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	155,072,000	69,768,000
Construction - commercial real estate \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	155,072,000	69,768,000
Land acquisition and development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	33,774,000	29,064,000
Land acquisition and development \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	33,774,000	29,064,000
Builder lines
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	29,664,000	24,668,000
Builder lines \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	29,664,000	24,668,000
Construction - consumer real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	16,874,000	11,223,000
Construction - consumer real estate \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	16,874,000	11,223,000
Residential mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	310,595,000	293,256,000
90+ Days Past Due and Accruing	115,000	89,000
Loans on nonaccrual status	516,000	320,000
Residential mortgage \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	2,042,000	1,643,000
Residential mortgage \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	132,000	387,000
Residential mortgage \| 90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	231,000	273,000
Residential mortgage \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	2,405,000	2,303,000
Residential mortgage \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	308,190,000	290,953,000
Equity lines
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	59,406,000	51,592,000
90+ Days Past Due and Accruing	89,000	38,000
Loans on nonaccrual status	20,000	77,000
Equity lines \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross		215,000
Equity lines \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	174,000	103,000
Equity lines \| 90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	89,000	115,000
Equity lines \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	263,000	433,000
Equity lines \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	59,143,000	51,159,000
Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	9,667,000	10,588,000
Loans on nonaccrual status		9,000
Other consumer \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross		3,000
Other consumer \| 90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross		9,000
Other consumer \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross		12,000
Other consumer \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	9,667,000	10,576,000
Consumer finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	477,300,000	468,510,000
Consumer finance \| Automobiles
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	406,385,000	401,276,000
Loans on nonaccrual status	1,008,000	892,000
Consumer finance \| Automobiles \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	12,826,000	15,263,000
Consumer finance \| Automobiles \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	2,408,000	2,628,000
Consumer finance \| Automobiles \| 90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	1,008,000	892,000
Consumer finance \| Automobiles \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	16,242,000	18,783,000
Consumer finance \| Automobiles \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	390,143,000	382,493,000
Consumer finance \| Marine and recreational vehicles
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	70,915,000	67,234,000
Loans on nonaccrual status	93,000
Consumer finance \| Marine and recreational vehicles \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	228,000	282,000
Consumer finance \| Marine and recreational vehicles \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	107,000	115,000
Consumer finance \| Marine and recreational vehicles \| 90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	93,000
Consumer finance \| Marine and recreational vehicles \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	428,000	397,000
Consumer finance \| Marine and recreational vehicles \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	$ 70,487,000	$ 66,837,000

Loans - Amortized cost basis of

Loans - Amortized cost basis of loans on nonaccrual status (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Interest income on loans on nonaccrual status		$ 10,000
Reversal of interest income upon placing commercial loans on nonaccrual status	$ 1,000	9,000
Loans on nonaccrual status	1,729,000	1,729,000	$ 1,298,000
Commercial business
Loans on nonaccrual status	92,000	92,000
Residential mortgage
Loans on nonaccrual status	516,000	516,000	320,000
Equity lines
Loans on nonaccrual status	20,000	20,000	77,000
Other consumer
Loans on nonaccrual status			9,000
Consumer finance \| Automobiles
Loans on nonaccrual status	1,008,000	1,008,000	$ 892,000
Consumer finance \| Marine and recreational vehicles
Loans on nonaccrual status	$ 93,000	$ 93,000

Loans - Amortized cost basis _2

Loans - Amortized cost basis of loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Modifications [Line Items]
Amortized Cost	$ 96	$ 1,040	$ 450	$ 1,085
% of Total Class of Financing Receivable	0%	0.10%	0%	0.10%
Term Extension
Financing Receivable, Modifications [Line Items]
Amortized Cost	$ 96	$ 1,040	$ 432	$ 1,040
Interest Rate Reduction
Financing Receivable, Modifications [Line Items]
Amortized Cost			18	45
Commercial real estate \| Term Extension
Financing Receivable, Modifications [Line Items]
Amortized Cost	$ 96	$ 969	$ 96	$ 969
% of Total Class of Financing Receivable	0%	0.20%	0%	0.20%
Commercial real estate \| Interest Rate Reduction
Financing Receivable, Modifications [Line Items]
Amortized Cost				$ 45
% of Total Class of Financing Receivable				0%
Residential mortgage \| Term Extension
Financing Receivable, Modifications [Line Items]
Amortized Cost		$ 71	$ 336	$ 71
% of Total Class of Financing Receivable		0%	0.10%	0%
Residential mortgage \| Interest Rate Reduction
Financing Receivable, Modifications [Line Items]
Amortized Cost			$ 18
% of Total Class of Financing Receivable			0%

Loans - Loan Modifications (Det

Loans - Loan Modifications (Details) - USD ($)	3 Months Ended		9 Months Ended
Loans - Loan Modifications (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average interest rate of modified financing receivables	1.51%	0.75%	1.51%	0.75%
Weighted average extension term of modified financing receivables	1 year	2 years 6 months	5 years 8 months 12 days	2 years 7 months 6 days
Payment defaults of modified loans were modified during the previous twelve months			0	0
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average interest rate of modified financing receivables		0.75%		0.75%
Weighted average extension term of modified financing receivables	1 year	2 years	1 year	2 years 1 month 6 days
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average interest rate of modified financing receivables	1.51%		1.51%
Weighted average extension term of modified financing receivables		10 years	6 years 10 months 24 days	10 years

Allowance for Credit Losses - L

Allowance for Credit Losses - Loan Portfolio (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Allowance for credit losses activity by loan portfolio
Beginning balance			$ 39,651	$ 40,518
Provision charged to operations	$ 3,700	$ 2,100	9,700	5,451
Loans charged off			(12,000)	(9,562)
Recoveries of loans previously charged off			3,420	3,350
Ending balance	40,771	40,248	40,771	40,248
Impact of ASC 326 \| Accounting Standards Update 2016-13 \| Non-PCD loans
Allowance for credit losses activity by loan portfolio
Ending balance		(113)		(113)
Impact of ASC 326 \| Accounting Standards Update 2016-13 \| PCD loans
Allowance for credit losses activity by loan portfolio
Ending balance		604		604
Commercial
Allowance for credit losses activity by loan portfolio
Beginning balance			12,315	11,219
Provision charged to operations			1,160	839
Loans charged off				(16)
Recoveries of loans previously charged off			28	144
Ending balance	13,503	12,164	13,503	12,164
Commercial \| Impact of ASC 326 \| Accounting Standards Update 2016-13 \| Non-PCD loans
Allowance for credit losses activity by loan portfolio
Ending balance		(617)		(617)
Commercial \| Impact of ASC 326 \| Accounting Standards Update 2016-13 \| PCD loans
Allowance for credit losses activity by loan portfolio
Ending balance		595		595
Consumer
Allowance for credit losses activity by loan portfolio
Beginning balance			3,758	3,330
Provision charged to operations			440	362
Loans charged off			(293)	(240)
Recoveries of loans previously charged off			125	136
Ending balance	4,030	3,695	4,030	3,695
Consumer \| Impact of ASC 326 \| Accounting Standards Update 2016-13 \| Non-PCD loans
Allowance for credit losses activity by loan portfolio
Ending balance		98		98
Consumer \| Impact of ASC 326 \| Accounting Standards Update 2016-13 \| PCD loans
Allowance for credit losses activity by loan portfolio
Ending balance		9		9
Consumer finance
Allowance for credit losses activity by loan portfolio
Beginning balance			23,578	25,969
Provision charged to operations			8,100	4,250
Loans charged off			(11,707)	(9,306)
Recoveries of loans previously charged off			3,267	3,070
Ending balance	$ 23,238	24,389	$ 23,238	24,389
Consumer finance \| Impact of ASC 326 \| Accounting Standards Update 2016-13 \| Non-PCD loans
Allowance for credit losses activity by loan portfolio
Ending balance		$ 406		$ 406

Allowance for Credit Losses - P

Allowance for Credit Losses - Provision for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Allowance for Credit Losses
Provision for loans	$ 3,700	$ 2,100	$ 9,700	$ 5,451
Provision for unfunded commitments		(50)	50	349
Total	$ 3,700	$ 2,050	$ 9,750	$ 5,800

Allowance for Credit Losses -_2

Allowance for Credit Losses - Loan Rating and Year of Origination (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Term Loans Amortized Cost Basis by Origination Year
Loans, gross	$ 1,909,409	$ 1,742,139
Revolving Loans Converted to Term During The Period	154,000
Commercial and consumer loan portfolio
Term Loans Amortized Cost Basis by Origination Year
2024	214,087	225,488
2023	218,028	287,252
2022	294,659	234,752
2021	206,682	187,479
2020	172,970	64,335
Prior	241,284	204,500
Revolving Loans Recorded Balance	83,771	68,946
Loans, gross	1,432,109	1,273,629
Revolving Loans Converted to Term	628	877
Commercial and consumer loan portfolio \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	213,935	225,426
2023	217,107	287,252
2022	294,659	229,021
2021	201,058	187,376
2020	172,868	64,259
Prior	239,551	203,065
Revolving Loans Recorded Balance	83,771	68,946
Loans, gross	1,423,300	1,266,069
Revolving Loans Converted to Term	351	724
Commercial and consumer loan portfolio \| Special Mention
Term Loans Amortized Cost Basis by Origination Year
2024	24	62
2023	921
2022		5,731
2021	5,624
Prior	1,166	1,003
Loans, gross	7,811	6,881
Revolving Loans Converted to Term	76	85
Commercial and consumer loan portfolio \| Substandard
Term Loans Amortized Cost Basis by Origination Year
2021		103
2020	102	5
Prior	179	165
Loans, gross	370	273
Revolving Loans Converted to Term	89
Commercial and consumer loan portfolio \| Substandard Nonaccrual
Term Loans Amortized Cost Basis by Origination Year
2024	128
2020		71
Prior	388	267
Loans, gross	628	406
Revolving Loans Converted to Term	112	68
Commercial real estate
Term Loans Amortized Cost Basis by Origination Year
2024	71,877	81,324
2023	80,522	125,278
2022	123,080	161,536
2021	149,593	121,365
2020	112,031	37,383
Prior	164,432	141,117
Loans, gross	701,647	668,122
Revolving Loans Converted to Term	112	119
Commercial real estate \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	71,877	81,324
2023	80,522	125,278
2022	123,080	155,805
2021	143,969	121,365
2020	112,031	37,383
Prior	163,489	140,158
Loans, gross	695,080	661,432
Revolving Loans Converted to Term	112	119
Commercial real estate \| Special Mention
Term Loans Amortized Cost Basis by Origination Year
2022		5,731
2021	5,624
Prior	943	959
Loans, gross	6,567	6,690
Commercial business
Term Loans Amortized Cost Basis by Origination Year
2024	6,213	18,744
2023	14,275	18,190
2022	19,158	17,219
2021	14,247	12,062
2020	10,710	14,847
Prior	25,128	15,339
Revolving Loans Recorded Balance	25,587	18,686
Loans, gross	115,410	115,348
Revolving Loans Converted to Term	92	261
Commercial business \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	6,189	18,682
2023	14,223	18,190
2022	19,158	17,219
2021	14,247	12,062
2020	10,710	14,847
Prior	25,128	15,339
Revolving Loans Recorded Balance	25,587	18,686
Loans, gross	115,242	115,286
Revolving Loans Converted to Term		261
Commercial business \| Special Mention
Term Loans Amortized Cost Basis by Origination Year
2024	24	62
2023	52
Loans, gross	76	62
Commercial business \| Substandard Nonaccrual
Term Loans Amortized Cost Basis by Origination Year
Loans, gross	92
Revolving Loans Converted to Term	92
Construction - commercial real estate
Term Loans Amortized Cost Basis by Origination Year
2024	38,479	29,346
2023	50,213	36,907
2022	61,410
2021		3,515
2020	4,970
Loans, gross	155,072	69,768
Construction - commercial real estate \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	38,479	29,346
2023	50,213	36,907
2022	61,410
2021		3,515
2020	4,970
Loans, gross	155,072	69,768
Land acquisition and development
Term Loans Amortized Cost Basis by Origination Year
2024	19,073	4,562
2023	2,114	4,665
2022	2,662	9,844
2021	1,324	9,993
2020	8,601
Loans, gross	33,774	29,064
Land acquisition and development \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	19,073	4,562
2023	2,114	4,665
2022	2,662	9,844
2021	1,324	9,993
2020	8,601
Loans, gross	33,774	29,064
Builder lines
Term Loans Amortized Cost Basis by Origination Year
2024	23,913	17,919
2023	3,436	5,124
2022	1,430	1,221
2021	481
2020		404
Prior	404
Loans, gross	29,664	24,668
Builder lines \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	23,913	17,919
2023	3,436	5,124
2022	1,430	1,221
2021	481
2020		404
Prior	404
Loans, gross	29,664	24,668
Construction - consumer real estate
Term Loans Amortized Cost Basis by Origination Year
2024	11,329	7,889
2023	5,099	3,240
2022	358
Revolving Loans Recorded Balance	88	94
Loans, gross	16,874	11,223
Construction - consumer real estate \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	11,329	7,889
2023	5,099	3,240
2022	358
Revolving Loans Recorded Balance	88	94
Loans, gross	16,874	11,223
Residential mortgage
Term Loans Amortized Cost Basis by Origination Year
2024	39,338	59,441
2023	59,528	91,086
2022	84,733	44,292
2021	40,701	40,192
2020	36,425	11,586
Prior	49,870	46,659
Loans, gross	310,595	293,256
Residential mortgage \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	39,210	59,441
2023	58,659	91,086
2022	84,733	44,292
2021	40,701	40,089
2020	36,323	11,524
Prior	49,080	46,192
Loans, gross	308,706	292,624
Residential mortgage \| Special Mention
Term Loans Amortized Cost Basis by Origination Year
2023	869
Prior	223	44
Loans, gross	1,092	44
Residential mortgage \| Substandard
Term Loans Amortized Cost Basis by Origination Year
2021		103
2020	102
Prior	179	165
Loans, gross	281	268
Residential mortgage \| Substandard Nonaccrual
Term Loans Amortized Cost Basis by Origination Year
2024	128
2020		62
Prior	388	258
Loans, gross	516	320
Equity lines
Term Loans Amortized Cost Basis by Origination Year
2024	23
2022		34
2021		70
2020	70	5
Prior	839	866
Revolving Loans Recorded Balance	58,050	50,120
Loans, gross	59,406	51,592
Revolving Loans Converted to Term	424	497
Equity lines \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	23
2022		34
2021		70
2020	70
Prior	839	857
Revolving Loans Recorded Balance	58,050	50,120
Loans, gross	59,221	51,425
Revolving Loans Converted to Term	239	344
Equity lines \| Special Mention
Term Loans Amortized Cost Basis by Origination Year
Loans, gross	76	85
Revolving Loans Converted to Term	76	85
Equity lines \| Substandard
Term Loans Amortized Cost Basis by Origination Year
2020		5
Loans, gross	89	5
Revolving Loans Converted to Term	89
Equity lines \| Substandard Nonaccrual
Term Loans Amortized Cost Basis by Origination Year
Prior		9
Loans, gross	20	77
Revolving Loans Converted to Term	20	68
Other consumer
Term Loans Amortized Cost Basis by Origination Year
2024	3,842	6,263
2023	2,841	2,762
2022	1,828	606
2021	336	282
2020	163	110
Prior	611	519
Revolving Loans Recorded Balance	46	46
Loans, gross	9,667	10,588
Other consumer \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	3,842	6,263
2023	2,841	2,762
2022	1,828	606
2021	336	282
2020	163	101
Prior	611	519
Revolving Loans Recorded Balance	46	46
Loans, gross	$ 9,667	10,579
Other consumer \| Substandard Nonaccrual
Term Loans Amortized Cost Basis by Origination Year
2020		9
Loans, gross		$ 9

Allowance for Credit Losses - C

Allowance for Credit Losses - Credit Rating and Year of Origination (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Term Loans Amortized Cost Basis by Origination Year
Loans, gross	$ 1,909,409	$ 1,742,139
Consumer finance
Term Loans Amortized Cost Basis by Origination Year
2024	123,191	144,649
2023	118,364	179,264
2022	137,421	87,943
2021	63,406	32,238
2020	22,337	15,919
Prior	12,581	8,497
Loans, gross	477,300	468,510
Consumer finance \| Very good
Term Loans Amortized Cost Basis by Origination Year
2024	28,177	22,397
2023	17,804	27,395
2022	22,000	14,148
2021	11,193	10,964
2020	8,827	2,795
Prior	4,128	2,460
Loans, gross	92,129	80,159
Consumer finance \| Good
Term Loans Amortized Cost Basis by Origination Year
2024	37,079	42,622
2023	35,036	50,930
2022	39,713	17,132
2021	12,217	4,722
2020	3,156	1,500
Prior	1,198	778
Loans, gross	128,399	117,684
Consumer finance \| Fairly good
Term Loans Amortized Cost Basis by Origination Year
2024	34,183	44,492
2023	37,148	55,189
2022	41,728	26,682
2021	19,164	6,216
2020	3,906	3,984
Prior	2,309	1,507
Loans, gross	138,438	138,070
Consumer finance \| Fair
Term Loans Amortized Cost Basis by Origination Year
2024	19,812	28,779
2023	23,501	36,794
2022	27,507	22,266
2021	15,261	7,014
2020	4,392	4,808
Prior	2,988	1,908
Loans, gross	93,461	101,569
Consumer finance \| Marginal
Term Loans Amortized Cost Basis by Origination Year
2024	3,940	6,359
2023	4,875	8,956
2022	6,473	7,715
2021	5,571	3,322
2020	2,056	2,832
Prior	1,958	1,844
Loans, gross	24,873	31,028
Consumer finance \| Automobiles
Term Loans Amortized Cost Basis by Origination Year
2024	110,079	129,484
2023	105,081	155,913
2022	116,963	76,447
2021	53,579	20,872
2020	12,824	12,991
Prior	7,859	5,569
Loans, gross	406,385	401,276
Consumer finance \| Automobiles \| Very good
Term Loans Amortized Cost Basis by Origination Year
2024	19,654	14,916
2023	11,317	12,395
2022	8,863	4,291
2021	2,796	1,012
2020	550	277
Prior	125	22
Loans, gross	43,305	32,913
Consumer finance \| Automobiles \| Good
Term Loans Amortized Cost Basis by Origination Year
2024	32,490	35,203
2023	28,443	42,800
2022	32,578	15,530
2021	10,822	3,338
2020	1,948	1,090
Prior	514	325
Loans, gross	106,795	98,286
Consumer finance \| Automobiles \| Fairly good
Term Loans Amortized Cost Basis by Origination Year
2024	34,183	44,227
2023	36,945	54,968
2022	41,542	26,645
2021	19,129	6,186
2020	3,878	3,984
Prior	2,274	1,470
Loans, gross	137,951	137,480
Consumer finance \| Automobiles \| Fair
Term Loans Amortized Cost Basis by Origination Year
2024	19,812	28,779
2023	23,501	36,794
2022	27,507	22,266
2021	15,261	7,014
2020	4,392	4,808
Prior	2,988	1,908
Loans, gross	93,461	101,569
Consumer finance \| Automobiles \| Marginal
Term Loans Amortized Cost Basis by Origination Year
2024	3,940	6,359
2023	4,875	8,956
2022	6,473	7,715
2021	5,571	3,322
2020	2,056	2,832
Prior	1,958	1,844
Loans, gross	24,873	31,028
Consumer finance \| Marine and recreational vehicles
Term Loans Amortized Cost Basis by Origination Year
2024	13,112	15,165
2023	13,283	23,351
2022	20,458	11,496
2021	9,827	11,366
2020	9,513	2,928
Prior	4,722	2,928
Loans, gross	70,915	67,234
Consumer finance \| Marine and recreational vehicles \| Very good
Term Loans Amortized Cost Basis by Origination Year
2024	8,523	7,481
2023	6,487	15,000
2022	13,137	9,857
2021	8,397	9,952
2020	8,277	2,518
Prior	4,003	2,438
Loans, gross	48,824	47,246
Consumer finance \| Marine and recreational vehicles \| Good
Term Loans Amortized Cost Basis by Origination Year
2024	4,589	7,419
2023	6,593	8,130
2022	7,135	1,602
2021	1,395	1,384
2020	1,208	410
Prior	684	453
Loans, gross	21,604	19,398
Consumer finance \| Marine and recreational vehicles \| Fairly good
Term Loans Amortized Cost Basis by Origination Year
2024		265
2023	203	221
2022	186	37
2021	35	30
2020	28
Prior	35	37
Loans, gross	$ 487	$ 590

Allowance for Credit Losses - G

Allowance for Credit Losses - Gross Charge-offs of loans by Year of Origination (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Current Period Gross Charge-offs by Origination Year
2024	$ 574,000	$ 689,000
2023	2,350,000	4,519,000
2022	5,218,000	2,628,000
2021	2,725,000	626,000
2020	484,000	485,000
Prior	649,000	615,000
Total	12,000,000	9,562,000
Collateral dependent loans	0		$ 0
Demand deposit overdrafts
Current Period Gross Charge-offs by Origination Year
2024	193,000	199,000,000
Commercial real estate
Current Period Gross Charge-offs by Origination Year
2023		16,000
Total		16,000
Residential mortgage
Current Period Gross Charge-offs by Origination Year
2024	3,000
Total	3,000
Equity lines
Current Period Gross Charge-offs by Origination Year
Prior		8,000
Total		8,000
Other consumer
Current Period Gross Charge-offs by Origination Year
2024	204,000	199,000
2023	19,000	25,000
2022	5,000
2021		3,000
2020		2,000
Prior	62,000	3,000
Total	290,000	232,000
Consumer finance
Current Period Gross Charge-offs by Origination Year
Total	11,707,000	9,306,000
Consumer finance \| Automobiles
Current Period Gross Charge-offs by Origination Year
2024	367,000	490,000
2023	2,275,000	4,396,000
2022	5,053,000	2,628,000
2021	2,691,000	583,000
2020	457,000	477,000
Prior	573,000	567,000
Total	11,416,000	9,141,000
Consumer finance \| Marine and recreational vehicles
Current Period Gross Charge-offs by Origination Year
2023	56,000	82,000
2022	160,000
2021	34,000	40,000
2020	27,000	6,000
Prior	14,000	37,000
Total	$ 291,000	$ 165,000

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Goodwill and Other Intangible Assets
Goodwill	$ 25,191,000		$ 25,191,000		$ 25,191,000
Changes in the recorded balance of goodwill			0	$ 0
Amortization of intangible assets	$ 66,000	$ 68,000	$ 196,000	$ 204,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Gross carrying amounts and accumulated amortization
Gross Carrying Amount	$ 3,116	$ 3,116
Accumulated Amortization	(1,905)	(1,709)
Other intangible assets, net	1,211	1,407
Core deposit intangibles
Gross carrying amounts and accumulated amortization
Gross Carrying Amount	1,711	1,711
Accumulated Amortization	(673)	(588)
Other amortizable intangibles
Gross carrying amounts and accumulated amortization
Gross Carrying Amount	1,405	1,405
Accumulated Amortization	$ (1,232)	$ (1,121)

Equity, Other Comprehensive I_3

Equity, Other Comprehensive Income (Loss) and Earnings Per Share - Equity and Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jan. 01, 2024
Shareholders' Equity
Number of shares withheld from employees to satisfy tax withholding obligations			9,316	7,765
Share Repurchase Program 2022
Shareholders' Equity
Cost of shares repurchased		$ 1,310		$ 5,850
Share Repurchase Program 2024
Shareholders' Equity
Stock repurchase program, authorized amount					$ 10,000
Cost of shares repurchased	$ 3,240		$ 7,270
Remaining shares amount available for repurchases	$ 2,730		$ 2,730

Equity, Other Comprehensive I_4

Equity, Other Comprehensive Income (Loss) and Earnings Per Share - Changes in Accumulated Other Comprehensive Income (Loss), Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated other comprehensive (loss) income			$ (26,687)
Other comprehensive income (loss), net of tax	$ 7,632	$ (5,668)	7,220	$ (4,116)
Balance, end of period	(19,467)		(19,467)
Accumulated Other Comprehensive Loss, Net
Accumulated other comprehensive (loss) income	(27,099)	(35,406)	(26,687)	(36,958)
Other comprehensive income (loss) arising during the period	9,589	(7,190)	9,053	(5,282)
Related income tax effects	(1,973)	1,503	(1,861)	1,105
Other comprehensive income (loss) arising during the period, net of tax	7,616	(5,687)	7,192	(4,177)
Reclassifications into net income	20	24	35	77
Related income tax effects	(4)	(5)	(7)	(16)
Reclassifications into net income, net of tax	16	19	28	61
Other comprehensive income (loss), net of tax	7,632	(5,668)	7,220	(4,116)
Balance, end of period	(19,467)	(41,074)	(19,467)	(41,074)
Securities Available For Sale:
Accumulated other comprehensive (loss) income	(25,439)	(33,635)	(25,002)	(35,184)
Other comprehensive income (loss) arising during the period	10,453	(7,369)	9,900	(5,413)
Related income tax effects	(2,195)	1,548	(2,079)	1,137
Other comprehensive income (loss) arising during the period, net of tax	8,258	(5,821)	7,821	(4,276)
Reclassifications into net income				5
Related income tax effects				(1)
Reclassifications into net income, net of tax				4
Other comprehensive income (loss), net of tax	8,258	(5,821)	7,821	(4,272)
Balance, end of period	(17,181)	(39,456)	(17,181)	(39,456)
Defined Benefit Plan:
Accumulated other comprehensive (loss) income	(2,736)	(3,195)	(2,752)	(3,236)
Reclassifications into net income	20	25	40	77
Related income tax effects	(4)	(5)	(8)	(16)
Reclassifications into net income, net of tax	16	20	32	61
Other comprehensive income (loss), net of tax	16	20	32	61
Balance, end of period	(2,720)	(3,175)	(2,720)	(3,175)
Cash Flow Hedges:
Accumulated other comprehensive (loss) income	1,076	1,424	1,067	1,462
Other comprehensive income (loss) arising during the period	(864)	179	(847)	131
Related income tax effects	222	(45)	218	(32)
Other comprehensive income (loss) arising during the period, net of tax	(642)	134	(629)	99
Reclassifications into net income		(1)	(5)	(5)
Related income tax effects			1	1
Reclassifications into net income, net of tax		(1)	(4)	(4)
Other comprehensive income (loss), net of tax	(642)	133	(633)	95
Balance, end of period	$ 434	$ 1,557	$ 434	$ 1,557

Equity, Other Comprehensive I_5

Equity, Other Comprehensive Income (Loss) and Earnings Per Share - Reclassification of Accumulated Other Comprehensive Loss, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net losses on sales, maturities and calls of available for sale securities				$ (5)
Noninterest expenses - Other	$ 2,199	$ 2,340	$ 6,499	6,806
Interest expense - Trust preferred capital notes	373	301	965	890
Income tax expense	1,250	1,323	3,010	4,309
Reclassifications from accumulated other comprehensive loss into net income
Total reclassifications into net income	(16)	(19)	(28)	(61)
Securities Available For Sale: \| Reclassifications from accumulated other comprehensive loss into net income
Total reclassifications into net income				(4)
Reclassification of net realized losses into net income \| Reclassifications from accumulated other comprehensive loss into net income
Net losses on sales, maturities and calls of available for sale securities				(5)
Related income tax effects \| Reclassifications from accumulated other comprehensive loss into net income
Income tax expense				1
Defined Benefit Plan: \| Reclassifications from accumulated other comprehensive loss into net income
Total reclassifications into net income	(16)	(20)	(32)	(61)
Reclassification of recognized net actuarial losses into net income \| Reclassifications from accumulated other comprehensive loss into net income
Noninterest expenses - Other	(38)	(42)	(92)	(128)
Amortization of prior service credit into net income \| Reclassifications from accumulated other comprehensive loss into net income
Noninterest expenses - Other	18	17	52	51
Related income tax effects. \| Reclassifications from accumulated other comprehensive loss into net income
Income tax expense	$ 4	5	8	16
Cash Flow Hedges: \| Reclassifications from accumulated other comprehensive loss into net income
Total reclassifications into net income		1	4	4
Amortization of hedging gains into net income \| Reclassifications from accumulated other comprehensive loss into net income
Interest expense - Trust preferred capital notes		$ 1	5	5
Related income tax effects, \| Reclassifications from accumulated other comprehensive loss into net income
Income tax expense			$ (1)	$ (1)

Equity, Other Comprehensive I_6

Equity, Other Comprehensive Income (Loss) and Earnings Per Share - Earnings Per Share (EPS) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Components of earnings per share calculations
Net Income (Loss)	$ 5,389	$ 5,789	$ 13,797	$ 18,536
Weighted average shares outstanding-basic	3,258,420	3,391,624	3,323,942	3,426,845
Weighted average shares outstanding-diluted	3,258,420	3,391,624	3,323,942	3,426,845

Share-Based Plans - Restricted

Share-Based Plans - Restricted Stock Activity (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Shares
Unvested, beginning of period (in shares)			135,694
Unvested, end of period (in shares)	120,173		120,173
Restricted Stock
Shares
Unvested, beginning of period (in shares)			135,694	145,677
Granted (in shares)			17,975	18,540
Vested (in shares)			(32,061)	(30,043)
Forfeited (in shares)			(1,435)	(3,545)
Unvested, end of period (in shares)	120,173	130,629	120,173	130,629
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share)			$ 52.13	$ 48.88
Granted (in dollars per share)			46.81	57.32
Vested (in dollars per share)			49.13	51.53
Forfeited (in dollars per share)			53.69	49.37
Unvested, end of period (in dollars per share)	$ 52.12	$ 55.36	$ 52.12	$ 55.36
Additional information
Fair value of shares vested	$ 19,000	$ 232,000	$ 1,680,000	$ 1,730,000
Compensation expense	485,000	581,000	1,460,000	1,510,000
Compensation expense after tax	347,000	$ 412,000	1,010,000	$ 1,020,000
Unrecognized compensation expense	$ 2,980,000		$ 2,980,000
Restricted Stock \| Employees
Summary of restricted stock awards
Vesting period			5 years
Restricted Stock \| Nonemployee Directors
Summary of restricted stock awards
Vesting period			3 years

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other components of net periodic benefit cost:
Net periodic benefit cost			$ 667	$ 692
Cash Balance Plan \| C&F Bank
Components of net periodic benefit cost
Service cost, included in salaries and employee benefits	$ 339	$ 344	1,076	1,032
Other components of net periodic benefit cost:
Interest cost	$ 203	$ 182	$ 582	$ 546
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense
Expected return on plan assets	$ (346)	$ (321)	$ (1,031)	$ (963)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense
Amortization of prior service credit	$ (18)	$ (17)	$ (52)	$ (51)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense
Recognized net actuarial losses	$ 38	$ 42	$ 92	$ 128
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense
Other components of net periodic benefit cost, included in other noninterest expense	$ (123)	$ (114)	$ (409)	$ (340)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense
Net periodic benefit cost	$ 216	$ 230	$ 667	$ 692

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities - Investments in Other investment company funds (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value of Assets and Liabilities
Fair value of investment in Other investments companies	$ 1,630,000		$ 1,630,000		$ 1,930,000
Unrealized gains or losses	140,000	$ 72,000	238,000	$ 270,000
Other income			3,920,000
Other income net of tax					$ 3,750,000
Unrealized gains from change in fair value of investments	$ 194,000	$ 137,000	$ 433,000	$ 210,000

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Securities available for sale
Securities available for sale	$ 409,045	$ 462,444
Interest rate swaps on loans \| Cash flow hedges
Securities available for sale
Derivatives	865	1,415
Liabilities:
Derivatives	305
Recurring
Securities available for sale
Securities available for sale	409,045	462,444
Loans held for sale	44,677	14,176
Other investments	3,919	3,751
Total assets	464,120	488,231
Liabilities:
Total liabilities	5,205	6,110
Recurring \| Cash flow hedges
Securities available for sale
Derivatives	865	1,415
Liabilities:
Derivatives	305
Recurring \| IRLC
Securities available for sale
Derivatives	714	335
Recurring \| Interest rate swaps on loans
Securities available for sale
Derivatives	4,900	6,110
Liabilities:
Derivatives	4,900	6,110
Level 2 \| Recurring
Securities available for sale
Securities available for sale	409,045	462,444
Loans held for sale	44,677	14,176
Other investments	3,919	3,751
Total assets	464,120	488,231
Liabilities:
Total liabilities	5,205	6,110
Level 2 \| Recurring \| Cash flow hedges
Securities available for sale
Derivatives	865	1,415
Liabilities:
Derivatives	305
Level 2 \| Recurring \| IRLC
Securities available for sale
Derivatives	714	335
Level 2 \| Recurring \| Interest rate swaps on loans
Securities available for sale
Derivatives	4,900	6,110
Liabilities:
Derivatives	4,900	6,110
U.S. Treasury securities
Securities available for sale
Securities available for sale	10,684	45,103
U.S. Treasury securities \| Recurring
Securities available for sale
Securities available for sale	10,684	45,103
U.S. Treasury securities \| Level 2 \| Recurring
Securities available for sale
Securities available for sale	10,684	45,103
U.S. government agencies and corporations
Securities available for sale
Securities available for sale	63,669	87,094
U.S. government agencies and corporations \| Recurring
Securities available for sale
Securities available for sale	63,669	87,094
U.S. government agencies and corporations \| Level 2 \| Recurring
Securities available for sale
Securities available for sale	63,669	87,094
Mortgage-backed securities
Securities available for sale
Securities available for sale	166,977	161,696
Mortgage-backed securities \| Recurring
Securities available for sale
Securities available for sale	166,977	161,696
Mortgage-backed securities \| Level 2 \| Recurring
Securities available for sale
Securities available for sale	166,977	161,696
Obligations of states and political subdivisions
Securities available for sale
Securities available for sale	147,176	147,111
Obligations of states and political subdivisions \| Recurring
Securities available for sale
Securities available for sale	147,176	147,111
Obligations of states and political subdivisions \| Level 2 \| Recurring
Securities available for sale
Securities available for sale	147,176	147,111
Corporate and other debt securities
Securities available for sale
Securities available for sale	20,539	21,440
Corporate and other debt securities \| Recurring
Securities available for sale
Securities available for sale	20,539	21,440
Corporate and other debt securities \| Level 2 \| Recurring
Securities available for sale
Securities available for sale	$ 20,539	$ 21,440

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Securities available for sale	$ 409,045	$ 462,444
Bank-owned life insurance	21,827	21,464
Carrying Value
Assets:
Cash and short-term investments	50,703	77,403
Securities available for sale	409,045	462,444
Loans, net	1,868,638	1,702,488
Loans held for sale	44,677	14,176
Other investments	3,919	3,751
Bank-owned life insurance	21,827	21,464
Accrued interest receivable	10,198	10,398
Financial liabilities:
Demand and savings deposits	1,325,040	1,392,931
Time deposits	810,851	673,199
Borrowings	134,076	103,618
Accrued interest payable	3,967	3,493
Total Fair Value
Assets:
Cash and short-term investments	50,703	77,403
Securities available for sale	409,045	462,444
Loans, net	1,823,821	1,643,462
Loans held for sale	44,677	14,176
Other investments	3,919	3,751
Bank-owned life insurance	21,827	21,464
Accrued interest receivable	10,198	10,398
Financial liabilities:
Demand and savings deposits	1,325,040	1,392,931
Time deposits	807,686	668,965
Borrowings	125,192	90,120
Accrued interest payable	3,967	3,493
Total Fair Value \| Level 1
Assets:
Cash and short-term investments	49,193	75,159
Accrued interest receivable	10,198	10,398
Financial liabilities:
Demand and savings deposits	1,325,040	1,392,931
Accrued interest payable	3,967	3,493
Total Fair Value \| Level 2
Assets:
Cash and short-term investments	1,510	2,244
Securities available for sale	409,045	462,444
Loans held for sale	44,677	14,176
Other investments	3,919	3,751
Bank-owned life insurance	21,827	21,464
Financial liabilities:
Time deposits	807,686	668,965
Borrowings	125,192	90,120
Total Fair Value \| Level 3
Assets:
Loans, net	1,823,821	1,643,462
IRLC \| Carrying Value
Assets:
Derivatives	714	335
IRLC \| Total Fair Value
Assets:
Derivatives	714	335
IRLC \| Total Fair Value \| Level 2
Assets:
Derivatives	714	335
Interest rate swaps on loans \| Carrying Value
Assets:
Derivatives	4,900	6,110
Financial liabilities:
Derivatives	4,900	6,110
Interest rate swaps on loans \| Total Fair Value
Assets:
Derivatives	4,900	6,110
Financial liabilities:
Derivatives	4,900	6,110
Interest rate swaps on loans \| Total Fair Value \| Level 2
Assets:
Derivatives	4,900	6,110
Financial liabilities:
Derivatives	4,900	6,110
Cash flow hedges \| Carrying Value
Assets:
Derivatives	865	1,415
Financial liabilities:
Derivatives	305
Cash flow hedges \| Total Fair Value
Assets:
Derivatives	865	1,415
Financial liabilities:
Derivatives	305
Cash flow hedges \| Total Fair Value \| Level 2
Assets:
Derivatives	865	1,415
Financial liabilities:
Derivatives	305
Cash flow hedges \| Interest rate swaps on loans
Assets:
Derivatives	865	$ 1,415
Financial liabilities:
Derivatives	$ 305

Business Segments - Segment Rep

Business Segments - Segment Reporting (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Business Segments
Number of principal business segments \| segment			3
Interest income	$ 36,131	$ 31,686	$ 103,151	$ 91,729
Interest expense	11,442	7,224	31,476	17,964
Net interest income	24,689	24,462	71,675	73,765
Gains on sales of loans	1,825	1,220	4,814	4,930
Other noninterest income	6,947	4,994	18,774	16,882
Net revenue	33,461	30,676	95,263	95,577
Provision for loan losses	3,700	2,050	9,750	5,800
Noninterest expense	23,091	21,526	68,614	66,810
Income before income taxes	6,670	7,100	16,899	22,967
Income tax expense (benefit)	1,250	1,323	3,010	4,309
Net income	5,420	5,777	13,889	18,658
Capital expenditures	2,032	409	3,056	1,019
Depreciation and amortization	945	956	2,841	2,919
Total assets	2,550,904		2,550,904		$ 2,438,498
Operating Segments \| Community Banking
Business Segments
Interest income	29,087	25,066	82,691	72,531
Interest expense	10,822	6,675	29,768	16,268
Net interest income	18,265	18,391	52,923	56,263
Other noninterest income	4,599	4,415	12,874	12,759
Net revenue	22,864	22,806	65,797	69,022
Provision for loan losses	700	500	1,650	1,550
Noninterest expense	15,587	15,323	47,153	45,649
Income before income taxes	6,577	6,983	16,994	21,823
Income tax expense (benefit)	1,240	1,298	3,074	4,081
Net income	5,337	5,685	13,920	17,742
Capital expenditures	2,026	251	2,842	861
Depreciation and amortization	843	838	2,536	2,558
Total assets	2,435,009		2,435,009		2,319,810
Operating Segments \| Mortgage Banking
Business Segments
Interest income	597	517	1,411	1,312
Interest expense	307	232	595	513
Net interest income	290	285	816	799
Gains on sales of loans	1,704	1,198	5,048	4,983
Other noninterest income	1,203	1,144	3,443	3,413
Net revenue	3,197	2,627	9,307	9,195
Noninterest expense	2,725	2,631	7,938	8,459
Income before income taxes	472	(4)	1,369	736
Income tax expense (benefit)	121	1	348	168
Net income	351	(5)	1,021	568
Capital expenditures	6	12	103	12
Depreciation and amortization	18	18	52	61
Total assets	52,431		52,431		22,177
Operating Segments \| Consumer Finance.
Business Segments
Interest income	12,676	12,020	37,084	35,313
Interest expense	6,025	5,748	17,722	17,060
Net interest income	6,651	6,272	19,362	18,253
Other noninterest income	197	(19)	678	25
Net revenue	6,848	6,253	20,040	18,278
Provision for loan losses	3,000	1,550	8,100	4,250
Noninterest expense	3,418	3,761	10,363	10,909
Income before income taxes	430	942	1,577	3,119
Income tax expense (benefit)	119	260	435	858
Net income	311	682	1,142	2,261
Capital expenditures		146	111	146
Depreciation and amortization	84	100	253	300
Total assets	485,201		485,201		476,671
Operating Segments \| Other
Business Segments
Interest expense	621	548	1,708	1,696
Net interest income	(621)	(548)	(1,708)	(1,696)
Other noninterest income	1,020	(496)	1,979	840
Net revenue	399	(1,044)	271	(856)
Noninterest expense	1,378	(172)	3,208	1,839
Income before income taxes	(979)	(872)	(2,937)	(2,695)
Income tax expense (benefit)	(265)	(246)	(825)	(790)
Net income	(714)	(626)	(2,112)	(1,905)
Total assets	31,078		31,078		35,581
Eliminations
Business Segments
Interest income	(6,229)	(5,917)	(18,035)	(17,427)
Interest expense	(6,333)	(5,979)	(18,317)	(17,573)
Net interest income	104	62	282	146
Gains on sales of loans	121	22	(234)	(53)
Other noninterest income	(72)	(50)	(200)	(155)
Net revenue	153	34	(152)	(62)
Noninterest expense	(17)	(17)	(48)	(46)
Income before income taxes	170	51	(104)	(16)
Income tax expense (benefit)	35	10	(22)	(8)
Net income	135	$ 41	(82)	$ (8)
Total assets	$ (452,815)		$ (452,815)		$ (415,741)

Business Segments - Other (Deta

Business Segments - Other (Details)	9 Months Ended
Business Segments - Other (Details)	Sep. 30, 2024 item
Mortgage Banking
Business Segments
Number of intersegment lines of credit	2
Mortgage Banking \| FHLB Advances \| Minimum
Business Segments
Variable rate, spread (as a percent)	0.50%
Mortgage Banking \| FHLB Advances \| Maximum
Business Segments
Variable rate, spread (as a percent)	1.75%
Consumer Finance.
Business Segments
Floor variable rate (as a percent)	3.50%
Ceiling rate (as a percent)	6%
Consumer Finance. \| Minimum
Business Segments
Fixed rate (as a percent)	3.80%
Consumer Finance. \| Maximum
Business Segments
Fixed rate (as a percent)	4%
Consumer Finance. \| One-month Term Secured Overnight Financing Rate (SOFR) [Member] \| Minimum
Business Segments
Variable rate, spread (as a percent)	2.115%

Commitments and Contingent Li_2

Commitments and Contingent Liabilities - Loan Commitments (Details) - C&F Bank - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Standby Letters of Credit
Commitments and Contingent Liabilities
Face amount of asset	$ 18,410	$ 7,910
Loan commitments
Commitments and Contingent Liabilities
Face amount of asset	$ 447,940	$ 413,530

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Other (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Commitments and Contingent Liabilities
Provision for indemnifications	$ (100,000)	$ (200,000)	$ (375,000)	$ (435,000)
Indemnification reserve for recourse provisions
Commitments and Contingent Liabilities
Provision for indemnifications	100,000	200,000	375,000	435,000
Indemnification payments paid	0	$ 0	0	$ 0
Allowance for indemnifications	$ 1,430,000		$ 1,430,000		$ 1,810,000
C&F Mortgage
Commitments and Contingent Liabilities
Recourse period for early payment default, minimum			90 days
Recourse period for early payment default, maximum			1 year

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Derivatives and other information
Changes in fair value of loan swaps	$ 0
Other assets
Derivatives and other information
Cash collateral	0	$ 0
Interest rate swaps on loans \| Cash flow hedges
Derivatives and other information
Notional amount	25,000	25,000
Derivative Asset	865	1,415
Derivative Liability	305
Matched interest rate swap with borrower \| Not designated as hedges
Derivatives and other information
Notional amount	115,837	109,638
Derivative Asset	1,727	1,611
Derivative Liability	3,173	4,499
Matched interest rate swap with counterparty \| Not designated as hedges
Derivatives and other information
Notional amount	115,837	109,638
Derivative Asset	3,173	4,499
Derivative Liability	1,727	1,611
IRLC \| Not designated as hedges
Derivatives and other information
Notional amount	45,582	26,152
Derivative Asset	714	335
Mortgage Banking
Derivatives and other information
Mortgage loans	90,260	40,330
Mortgage Banking \| Best-efforts forward sales contracts
Derivatives and other information
Mortgage loans	44,680	14,180
Mortgage Banking \| IRLC
Derivatives and other information
IRLCs	$ 45,580	$ 26,150

Other Noninterest Expenses (Det

Other Noninterest Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Noninterest Expenses.
Loan expenses	$ 474	$ 614	$ 1,343	$ 1,760
Telecommunication expenses	372	344	1,142	970
Travel and educational expenses	221	305	747	959
Postage and courier expenses	232	250	777	744
Licenses and taxes expense	243	238	729	658
Finance payment processing expense	210	199	627	602
Provision for indemnifications	(100)	(200)	(375)	(435)
Other components of net periodic pension cost	(123)	(114)	(409)	(340)
All other noninterest expenses	670	704	1,918	1,888
Total other noninterest expenses	$ 2,199	$ 2,340	$ 6,499	$ 6,806