C&F Financial (CFFI) 10-K27 Feb 252024 FY Annual reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2024	Feb. 24, 2025	Jun. 30, 2024
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 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 Tax Identification Number	54-1680165
Entity Address, Address Line One	3600 La Grange Parkway
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 147,646,433
Entity Common Stock, Shares Outstanding		3,239,867
Entity Central Index Key	0000913341
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Yount, Hyde & Barbour, P.C.
Auditor Firm ID	613
Auditor Location	Richmond, Virginia

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and due from banks	$ 16,163,000	$ 16,382,000
Interest-bearing deposits in other banks	49,423,000	58,777,000
Total cash and cash equivalents	65,586,000	75,159,000
Securities-available for sale at fair value, amortized cost of $448,616 and $494,092, respectively	418,625,000	462,444,000
Loans held for sale, at fair value	20,112,000	14,176,000
Loans, net of allowance for credit losses of $40,087 and $39,651, respectively	1,880,311,000	1,702,488,000
Restricted stock, at cost	3,592,000	2,925,000
Corporate premises and equipment, net	40,118,000	41,914,000
Other real estate owned, net of valuation allowance of $215 and $0, respectively	1,316,000	0
Accrued interest receivable	10,592,000	10,398,000
Goodwill	25,191,000	25,191,000
Other intangible assets, net	1,147,000	1,407,000
Bank-owned life insurance	21,191,000	21,464,000
Net deferred tax asset	17,719,000	18,731,000
Other assets	57,874,000	62,201,000
Total assets	2,563,374,000	2,438,498,000
Deposits
Noninterest-bearing demand deposits	526,069,000	549,367,000
Savings and interest-bearing demand deposits	826,462,000	843,564,000
Time deposits	818,329,000	673,199,000
Total deposits	2,170,860,000	2,066,130,000
Short-term borrowings	28,994,000	58,223,000
Long-term borrowings	68,158,000	25,894,000
Trust preferred capital notes	25,457,000	25,422,000
Accrued interest payable	4,403,000	3,493,000
Other liabilities	38,532,000	41,820,000
Total liabilities	2,336,404,000	2,220,982,000
Commitments and contingent liabilities (Note 18)
Equity
Common stock ($1.00 par value, 8,000,000 shares authorized, 3,233,672 and 3,374,098 shares issued and outstanding, respectively, includes 119,778 and 135,694 of unvested shares, respectively)	3,114,000	3,238,000
Additional paid-in capital	36,000	6,567,000
Retained earnings	247,814,000	233,760,000
Accumulated other comprehensive loss, net	(24,604,000)	(26,687,000)
Equity attributable to C&F Financial Corporation	226,360,000	216,878,000
Noncontrolling interest	610,000	638,000
Total equity	226,970,000	217,516,000
Total liabilities and equity	$ 2,563,374,000	$ 2,438,498,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
CONSOLIDATED BALANCE SHEETS
Available-for-sale securities, amortized cost	$ 448,616	$ 494,092
Allowance for credit losses	40,087	39,651
Other real estate owned, valuation allowance	$ 215	$ 0
Common stock par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	8,000,000	8,000,000
Common stock, shares issued	3,233,672	3,374,098
Common stock, shares outstanding	3,233,672	3,374,098
Common stock, unvested shares	119,778	135,694

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest income
Interest and fees on loans	$ 127,089	$ 110,938	$ 90,833
Interest on interest-bearing deposits and federal funds sold	1,374	1,245	1,278
Interest and dividends on securities
U.S. treasury, government agencies and corporations	1,682	3,491	2,859
Mortgage-backed securities	3,909	3,669	3,178
Tax-exempt obligations of states and political subdivisions	3,568	2,844	1,623
Taxable obligations of states and political subdivisions	739	726	656
Corporate and other	1,233	1,224	927
Total interest income	139,594	124,137	101,354
Interest expense
Savings and interest-bearing deposits	6,594	5,275	2,228
Time deposits	31,465	15,112	2,996
Borrowings	3,429	4,850	1,502
Trust preferred capital notes	1,331	1,193	1,164
Total interest expense	42,819	26,430	7,890
Net interest income	96,775	97,707	93,464
Provision for credit losses	13,250	8,275	3,172
Net interest income after provision for credit losses	83,525	89,432	90,292
Noninterest income
Gains on sales of loans	6,064	5,780	7,498
Interchange income	6,178	6,187	6,030
Service charges on deposit accounts	4,288	4,330	4,306
Investment income from other equity interests	960	677	3,138
Mortgage banking fee income	2,286	2,110	2,931
Wealth management services income, net	2,993	2,564	2,442
Mortgage lender services income	2,049	2,048	1,667
Other service charges and fees	1,901	1,643	1,577
Net losses on sales, maturities and calls of available for sale securities		(5)
Other income (loss), net	3,819	4,281	(377)
Total noninterest income	30,538	29,615	29,212
Noninterest expenses
Salaries and employee benefits	53,578	54,876	47,867
Occupancy	8,397	7,993	8,564
Data processing	11,314	10,874	10,514
Professional fees	3,611	2,752	2,767
Insurance expense	1,832	1,659	1,049
Marketing and advertising expenses	1,213	1,548	1,805
Loan processing and collection expenses	2,661	3,317	3,978
Other	7,324	6,864	5,996
Total noninterest expenses	89,930	89,883	82,540
Income before income taxes	24,133	29,164	36,964
Income tax expense	4,215	5,418	7,595
Net income	19,918	23,746	29,369
Less net income attributable to noncontrolling interest	84	142	210
Net income attributable to C&F Financial Corporation	$ 19,834	$ 23,604	$ 29,159
Net income per share - basic (in dollars per share)	$ 6.01	$ 6.92	$ 8.29
Net income per share - diluted (in dollars per share)	$ 6.01	$ 6.92	$ 8.29

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income	$ 19,918	$ 23,746	$ 29,369
Other comprehensive income (loss), net of tax:
Securities available for sale	1,309	10,182	(35,621)
Defined benefit plan	955	484	(1,181)
Cash flow hedges	(181)	(395)	1,931
Other comprehensive income (loss), net of tax	2,083	10,271	(34,871)
Comprehensive income (loss)	22,001	34,017	(5,502)
Less comprehensive income attributable to noncontrolling interest	84	142	210
Comprehensive income (loss) attributable to C&F Financial Corporation	$ 21,917	$ 33,875	$ (5,712)

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid - In Capital	Retained Earnings Adjustment	Retained Earnings	Accumulated Other Comprehensive Loss, Net	Noncontrolling Interest	Adjustment	Total
Balance, beginning of the period at Dec. 31, 2021	$ 3,405	$ 15,189		$ 193,811	$ (2,087)	$ 706		$ 211,024
Comprehensive loss:
Net income				29,159		210		29,369
Other comprehensive income (loss)					(34,871)			(34,871)
Share-based compensation		1,973						1,973
Restricted stock vested	26	(26)
Common stock issued	4	180						184
Common stock purchased	(104)	(5,269)						(5,373)
Cash dividends declared				(5,756)				(5,756)
Distributions to noncontrolling interest						(317)		(317)
Balance, end of period at Dec. 31, 2022	3,331	12,047	$ (1,072)	217,214	(36,958)	599	$ (1,072)	196,233
Comprehensive loss:
Net income				23,604		142		23,746
Other comprehensive income (loss)					10,271			10,271
Share-based compensation		1,994						1,994
Restricted stock vested	43	(43)
Common stock issued	3	188						191
Common stock purchased	(139)	(7,619)						(7,758)
Cash dividends declared				(5,986)				(5,986)
Distributions to noncontrolling interest						(103)		(103)
Balance, end of period at Dec. 31, 2023	3,238	6,567		233,760	(26,687)	638		217,516
Comprehensive loss:
Net income				19,834		84		19,918
Other comprehensive income (loss)					2,083			2,083
Share-based compensation		1,923						1,923
Restricted stock vested	47	(47)
Common stock issued	4	179						183
Common stock purchased	(175)	(8,586)						(8,761)
Cash dividends declared				(5,780)				(5,780)
Distributions to noncontrolling interest						(112)		(112)
Balance, end of period at Dec. 31, 2024	$ 3,114	$ 36		$ 247,814	$ (24,604)	$ 610		$ 226,970

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF EQUITY
Cash dividends declared (in dollars per share)	$ 1.76	$ 1.76	$ 1.64

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating activities:
Net income	$ 19,918	$ 23,746	$ 29,369
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	13,250	8,275	3,172
Accretion of certain acquisition-related discounts, net	(612)	(989)	(1,499)
Share-based compensation	1,923	1,994	1,973
Depreciation and amortization	3,857	3,879	4,356
Amortization of premiums and accretion of discounts on securities, net	1,270	1,493	2,292
Deferred income taxes	474	902	708
Reversal of provision for indemnifications	(460)	(585)	(858)
Income from bank-owned life insurance	(849)	(388)	(620)
Pension expense	882	925	639
Pension contribution	(1,000)		(2,000)
Proceeds from sales of loans held for sale	527,628	504,716	772,555
Origination of loans held for sale	(528,608)	(498,134)	(699,459)
Gains on sales of loans held for sale	(6,064)	(5,780)	(7,498)
Other gains, net	(126)	(44)	(3,173)
Change in other assets and liabilities:
Accrued interest receivable	(194)	(1,416)	(2,172)
Other assets	7,676	(1,641)	(2,700)
Accrued interest payable	910	2,543	235
Other liabilities	(1,387)	(685)	(4,761)
Net cash provided by operating activities	38,488	38,811	90,559
Investing activities:
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities	100,601	100,812	55,328
Purchases of securities available for sale	(56,395)	(39,275)	(242,228)
Purchases of time deposits, net	977	(7)	(494)
Repayments on loans held for investment by non-bank affiliates	158,961	158,761	175,340
Purchases of loans held for investment by non-bank affiliates	(169,848)	(162,454)	(284,428)
Net increase in community banking loans held for investment	(179,521)	(110,885)	(116,663)
Purchases of corporate premises and equipment	(3,486)	(1,459)	(3,394)
Changes in collateral posted with other financial institutions, net			3,880
Other investing activities, net	71	(1,832)	1,380
Net cash used in investing activities	(148,640)	(56,339)	(411,279)
Financing activities:
Net (decrease) increase in demand and savings deposits	(40,400)	(229,634)	133,673
Net increase (decrease) in time deposits	145,130	291,904	(44,427)
Net (decrease) increase in short-term borrowings	(29,228)	21,632	1,857
Proceeds from long-term borrowings	40,000
Repayments of long-term borrowings		(4,000)
Repurchases of common stock	(8,761)	(7,758)	(5,373)
Cash dividends paid	(5,780)	(5,986)	(5,756)
Other financing activities, net	(382)	(132)	(338)
Net cash provided by financing activities	100,579	66,026	79,636
Net (decrease) increase in cash and cash equivalents	(9,573)	48,498	(241,084)
Cash and cash equivalents at beginning of period	75,159	26,661	267,745
Cash and cash equivalents at end of period	65,586	75,159	26,661
Supplemental cash flow disclosures:
Interest paid	41,874	23,859	7,699
Income taxes paid	523	6,073	8,019
Supplemental disclosure of noncash investing and financing activities:
Transfers from corporate premises and equipment to other real estate owned	1,827		423
Adoption of new accounting standard		1,072
Liabilities assumed to acquire right of use assets at lease commencement	$ 2,730	$ 775	888
Transfers from loans held for sale to loans held for investment			$ 1,425

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2024
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	NOTE 1: Summary of Significant Accounting Policies Principles of Consolidation: 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 20. Basis of Presentation: Reclassification: Significant Group Concentrations of Credit Risk: Cash and Cash Equivalents: Securities: Impairment of debt securities occurs when the fair value of a security is less than its amortized cost. The Corporation has elected to exclude accrued interest receivable from the amortized cost basis. For debt securities available for sale, impairment is recognized in its entirety in net income if either (i) we intend to sell the security or (ii) it is more-likely-than-not that we will be required to sell the security before recovery of its amortized cost basis. If, however, the Corporation does not intend to sell the security and it is not more-likely-than-not that the Corporation will be required to sell the security before recovery, the Corporation evaluates unrealized losses to determine whether a decline in fair value below amortized cost basis is a result of a credit loss, which occurs when the amortized cost basis of the security exceeds the present value of the cash flows expected to be collected from the security, or other factors such as changes in market interest rates. If a credit loss exists, an allowance for credit losses is recorded that reflects the amount of the impairment related to credit losses, limited by the amount by which the security’s amortized cost basis exceeds its fair value. Changes in the allowance for credit losses are recorded in net income in the period of change and are included in provision for credit losses. Changes in the fair value of debt securities available for sale not resulting from credit losses are recorded in other comprehensive income (loss). The Corporation regularly reviews unrealized losses in its investments in securities and cash flows expected to be collected from impaired securities based on criteria including the extent to which market value is below amortized cost, the financial health of and specific prospects for the issuer, the Corporation’s intention with regard to holding the security to maturity and the likelihood that the Corporation would be required to sell the security before recovery. Loans Held for Sale: Fair Value Measurement, Loans Held for Investment: Loans acquired in a business combination are recorded at estimated fair value on the date of acquisition. In the case of loans that have experienced more than insignificant deterioration in credit quality since origination as of the acquisition date, the loan’s amortized cost basis is increased above estimated fair value by the amount of expected credit losses as of the acquisition date, and a corresponding allowance for credit losses is also recorded. Any remaining non-credit discount or premium for such purchased loans with credit deterioration (or PCD loans) and any fair value discount or premium for non-PCD loans is accreted or amortized as an adjustment to yield over the estimated lives of the loans using the level-yield method. There is no allowance for credit losses established for non-PCD loans as part of a business combination. Subsequent to a business combination, an allowance for credit losses for non-PCD loans is established through charges to earnings in the form of a provision for credit losses. A loan’s past due status is based on the contractual due date of the most delinquent payment due. Loans are generally placed on nonaccrual status when the collection of principal or interest is 90 days or more past due, or earlier, if collection is uncertain based on an evaluation of the net realizable value of the collateral and the financial strength of the borrower. Any accrued interest receivable on loans placed on nonaccrual status is reversed by an adjustment to interest income. Loans greater than 90 days past due may remain on accrual status if management determines it has adequate collateral to cover the principal and interest. For those loans that are carried on nonaccrual status, payments are first applied to principal outstanding. A loan may be returned to accrual status if the borrower has demonstrated a sustained period of repayment performance in accordance with the contractual terms of the loan and there is reasonable assurance the borrower will continue to make payments as agreed. These policies are applied consistently across our loan portfolio. In the ordinary course of business, the Corporation has entered into commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the Consolidated Balance Sheets when they are funded. Allowance for Credit Losses on Loans: The allowance represents management’s current estimate of expected credit losses over the contractual term of loans held for investment, and is recorded at an amount that, in management’s judgment, reduces the recorded investment in loans to the net amount expected to be collected. No allowance for credit loss is recorded on accrued interest receivable and amounts written-off are reversed by an adjustment to interest income. Management’s judgment in determining the level of the allowance is based on evaluations of historical loan losses, current conditions and reasonable and supportable forecasts relevant to the collectability of loans. Loans that share common risk characteristics are evaluated collectively using a discounted cash flow approach for all loans except for overdraft balances, which are evaluated using a loss rate approach. The discounted cash flow approach used by the Corporation utilizes loan-level cash flow projections and pool-level assumptions. For commercial (except for loans to states and political subdivisions) and consumer loans, cash flow projections and estimated expected losses are based in part on twelve-month forecasts of the national unemployment rate that are reasonable and supportable and external observations of historical loan losses. Forecasts of the national unemployment rate are derived from the Federal Open Markets Committee of the Federal Reserve Board and incorporated into the estimate of expected credit losses using a statistical regression analysis. For periods beyond those for which reasonable and supportable forecasts are available, projections are based on a reversion of the national unemployment rate from the last forecast to a historical average level over the following six months. Cash flow projections and estimated expected losses for loans to states and political subdivisions are based on external loss observations for state and municipal debt obligations. For consumer finance loans, cash flow projections and estimated expected losses reflect historical average loss experience based on internal observations for auto loans and based on external loss observations for marine and RV loans. Management’s estimate of the allowance for credit losses on loans that are collectively evaluated also includes a qualitative assessment of available information relevant to assessing collectability that is not captured in the loss estimation process. Factors considered by management include changes and expected changes in general market, economic and business conditions; the nature and volume of the loan portfolio; the volume and severity of delinquencies and adversely classified loan balances and the value of underlying collateral. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. The evaluation also considers the following risk characteristics that are inherent in the loan portfolio: ● Commercial loans are comprised of mortgage loans on commercial real estate, real estate acquisition, development and constructions loans, and other business lending, and carry risks associated with the successful operation of a business or a real estate project and changes in the value of collateral. In addition to other risks associated with the ownership of real estate, the repayment of these loans may be dependent upon the profitability and cash flows of the business or project. Construction loans, which include loans to individuals for the construction of a residence that generally will be occupied by the borrower, also bear the risk that the general contractor, who may or may not be a loan customer, may be unable to finish the construction project as planned because of financial pressure unrelated to the project. In addition, there is risk associated with the value of collateral other than real estate which may depreciate over time and cannot be appraised with as much precision. ● Consumer loans are comprised primarily of residential mortgage loans and home equity lines secured by residential real estate and carry risks associated with the continued credit-worthiness of the borrower and changes in the value of the collateral. ● Consumer finance loans are comprised of indirect financing for purchases of automobiles and marine and RVs and carry risks associated with the continued credit-worthiness of the borrower and changes in the value of the collateral, which are typically rapidly-depreciating vehicles. Consumer finance loans are more likely than real estate loans to be immediately adversely affected by job loss, divorce, illness or personal bankruptcy. Loans that do not share common risk characteristics with other loans are evaluated individually and are not included in the collective analysis. The allowance for credit losses on loans that are individually evaluated may be estimated based on their expected cash flows, or, in the case of loans for which repayment is expected substantially through the operation or sale of collateral when the borrower is experiencing financial difficulty, may be measured based on the fair value of the collateral less estimated costs to sell. Commercial and consumer loans are assigned loan classification ratings based on their credit quality and risk of loss. These loan ratings are reviewed on a quarterly basis and updated as new information becomes available. The characteristics of these loan ratings are as follows: ● Pass rated loans are to persons or business entities with an acceptable financial condition, appropriate collateral margins, appropriate cash flow to service the existing loan, and an appropriate leverage ratio. The borrower has paid all obligations as agreed and it is expected that this type of payment history will continue. When necessary, acceptable personal guarantors support the loan. ● Special mention loans have a specific, identified weakness in the borrower’s operations and in the borrower’s ability to generate positive cash flow on a sustained basis. The borrower’s recent payment history may be characterized by late payments. The Corporation’s risk exposure is mitigated by collateral supporting the loan. The collateral is considered to be well-margined, well-maintained, accessible and readily marketable. ● Substandard loans are considered to have specific and well-defined weaknesses that jeopardize the viability of the Corporation’s credit extension. The payment history for the loan has been inconsistent and the expected or projected primary repayment source may be inadequate to service the loan. The estimated net liquidation value of the collateral pledged and/or ability of the personal guarantor(s) to pay the loan may not adequately protect the Corporation. There is a distinct possibility that the Corporation will sustain some loss if the deficiencies associated with the loan are not corrected in the near term. ● Substandard nonaccrual loans have the same characteristics as substandard loans, however, they have a nonaccrual classification because it is probable that the Corporation will not be able to collect all amounts due. ● Doubtful rated loans have all the weaknesses inherent in a loan that is classified substandard but with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is extremely high. ● Loss rated loans are not considered collectible under normal circumstances and there is no realistic expectation for any future payment on the loan. Loss rated loans are fully charged off. For consumer finance loans, the Corporation utilizes credit scores based on the methods developed and defined by the Fair Isaac Corporation (FICO) as a key indicator of the risk of loss to manage the portfolio and estimate the allowance for credit losses. A FICO Score is a three-digit number based on the information in an applicant’s credit reports. It helps lenders determine how likely an applicant is to repay a loan. This, in turn, affects the loan amount that may be approved, repayment terms, and interest rate. Consumer finance loans are assigned a credit rating based on borrowers’ credit scores at the time of origination and are categorized within ranges of credit ratings used internally that parallel FICO Score rating bands. The Corporation monitors the consumer finance loan portfolio by past due status (refer to Note 3) and by credit rating at the time of origination, which the Corporation believes serves as a relevant indicator of aggregate credit quality and risk of loan defaults in the portfolio based upon the use of FICO Scores over time for loan approval decisions and through experience analyzing loss patterns. The characteristics of these credit ratings and our thresholds are as follows: ● Very Good (>739) and Good (670-739) credit rated borrowers are near or above the average FICO Score of consumers. Borrowers generally have limited to no prior credit difficulties or have shown extensive creditworthiness over a recent period of time. ● Fairly Good (625-669) and Fair (580-624) credit rated borrowers are approaching or slightly below the average FICO Score of consumers but typically have a credit profile acceptable to most lenders. Borrowers may have experienced minor credit difficulties or have a relatively limited credit history. ● Marginal (<580) credit rated borrowers are well below the average FICO Score of consumers. Borrowers may have limited access to traditional financing due to having experienced prior credit difficulties or have a limited credit history. The risk of future charge-offs is higher. Reserve for Unfunded Commitments: Allowance for Indemnifications: The allowance represents an amount that, in management’s judgment, will be adequate to absorb any losses that are probable of arising from valid indemnification requests for loans that have been sold by the mortgage banking segment. Management’s judgment in determining the level of the allowance is based on the volume of loans sold, historical experience, current economic conditions, changes in operational and compliance processes, and information provided by investors. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. Other Real Estate Owned (OREO): updated appraisals, general market conditions, recent sales of similar properties, length of time the properties have been held, and our ability and intention with regard to continued ownership of the properties. The Corporation may incur additional write-downs of foreclosed assets to fair value less estimated costs to sell if valuations indicate a further deterioration in market conditions. Revenue and expenses from operations and changes in the property valuations are included in other noninterest expenses and improvements are capitalized. The Corporation records a gain/loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Corporation finances the sale of OREO to the buyer, the Corporation assesses whether the buyer is committed to perform the obligations under the contract and whether collectability of the transaction price is probable. In determining the gain/loss on the sale, the Corporation adjusts the transaction price and the related gain/loss on sale if a significant financing component is present. Repossessed Assets: Repossessed assets primarily consist of vehicles repossessed by C&F Finance due to borrowers’ payment defaults. The repossession process is generally initiated after a loan becomes more than 60 days delinquent. Most customers have an opportunity to redeem their repossessed vehicles by paying all outstanding balances, including finance charges and fees. Vehicles that are not redeemed within a prescribed waiting period following repossession are then reclassified from loans to repossessed assets available-for-sale (included in other assets) and recorded initially at fair value less estimated costs to sell. The difference between the carrying amount of each loan and the fair value of the vehicle (i.e., the deficiency) is charged against the allowance for credit losses. The waiting period is determined as the length of time after repossession that C&F Finance is prohibited to sell the vehicle under the laws of the state where the vehicle was repossessed. Accounts still in process of collection or for which the Corporation does not have the legal right to sell continue to be classified as loans until such legal authority is obtained. At December 31, 2024, repossessed vehicles at fair value less estimated costs to sell included in other assets totaled $779,000 , compared to $646,000 at December 31, 2023. Repossession expense includes the costs to repossess and sell vehicles. These costs include transportation, storage, rekeying, condition reports, legal fees, fees paid to repossession agents and auction fees. These costs are included in noninterest expenses. Corporate Premises and Equipment: Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed using a straight-line method over the estimated useful lives of the assets. Estimated useful lives range from ten to forty years for buildings and from three to ten years for equipment, furniture and fixtures. Leasehold improvements are amortized over the shorter of the life of the related lease or the estimated useful life of the related asset. Maintenance and repairs are charged to expense as incurred and major improvements are capitalized. Upon sale or retirement of depreciable properties, the cost and related accumulated depreciation are netted against proceeds and any resulting gain or loss is included in income. Goodwill: The Corporation reviews the carrying value of goodwill at least annually or more frequently if certain impairment indicators exist. In testing goodwill for impairment, the Corporation may first consider qualitative factors to determine whether the existence of events or circumstances lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events and circumstances, we conclude that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then no further testing is required and the goodwill of the reporting unit is not impaired. If the Corporation elects to bypass the qualitative assessment or if we conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then the fair value of the reporting unit is compared with its carrying amount to determine whether an impairment exists. Transfer of Financial Assets: Income Taxes: C&F Bank invests in qualified affordable housing projects through housing equity funds, the purpose of which is to encourage investment in low-income residential property development in Virginia by providing a return on investment through federal income tax credits and other tax benefits on losses generated by the projects. C&F Bank recognizes its share of losses on these projects as a component of income tax expense. The benefit of an uncertain tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination by the applicable taxing authority, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. Interest and penalties associated with unrecognized tax benefits are recognized as a component of income tax expense. Retirement Plan: Share-Based Compensation: Earnings Per Share: Derivative Financial Instruments: The Corporation recognizes derivative financial instruments at fair value as either an other asset or other liability in the Consolidated Balance Sheets. The Corporation’s derivative financial instruments include (1) interest rate swaps that qualify and are designated as cash flow hedges on the Corporation’s trust preferred capital notes, (2) interest rate swaps with certain qualifying commercial loan customers and dealer counterparties and (3) interest rate contracts arising from mortgage banking activities, including interest rate lock commitments (IRLCs) on mortgage loans. The gain or loss on the Corporation’s cash flow hedges is reported as a component of other comprehensive income (loss), net of deferred income taxes, and reclassified into earnings in the same period(s) during which the hedged transactions affect earnings. IRLCs and interest rate swaps with loan customers and dealer counterparties are not designated as hedging instruments, and therefore changes in the fair value of these instruments are reported as noninterest income. The Corporation’s derivative financial instruments are described more fully in Note 21. Leases: Service Charges on Deposit Accounts: Other Service Charges and Fees: Interchange Income: Wealth Management Services Income, Net: Mortgage Lender Services Income: Recent Significant Accounting Pronouncements: Income Taxes (Topic 740) – Improvements to Income Tax Disclosures In November 2024, FASB issued ASU 2024-03, “ Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures. 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.

Adoption of New Accounting Stan

Adoption of New Accounting Standards	12 Months Ended
Adoption of New Accounting Standards	Dec. 31, 2024
Adoption of New Accounting Standards
Adoption of New Accounting Standards	NOTE 2: Adoption of New Accounting Standards On December 31, 2024, the Corporation adopted ASU 2023-07, “ Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures. On January 1, 2023, the Corporation adopted ASU 2016-13, “ Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief Financial instruments—Credit losses (Topic 326), Derivatives and hedging (Topic 815), and Leases (Topic 842)—Effective dates, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842), Codification Improvements to Financial Instruments “Financial Instruments – Credit Losses (Topic 326) - Troubled Debt Restructurings and Vintage Disclosures” ASC 326 introduced an approach based on current expected credit losses (CECL) to estimate credit losses on certain types of financial instruments, replacing the incurred loss methodology from prior GAAP. It also applies to unfunded commitments to extend credit, including loan commitments, standby letters of credit, and other similar instruments. It modified the impairment model for available-for-sale debt securities and provided for a simplified accounting model for purchased financial assets with credit deterioration since their origination. It also modified the measurement principles for modifications of loans to borrowers experiencing financial difficulty, including how the allowance for credit losses (ACL) is measured for such loans. The amendments of ASC 326, upon adoption, were applied on a modified retrospective basis, recording an increase in the reported balance of loans and the allowance for credit losses on loans, recognizing a liability for credit losses on commitments to extend credit, and reducing total equity of both the Corporation and of C&F Bank, which resulted in a reduction of regulatory capital of C&F Bank. As a result of adopting ASC 326, the Corporation recorded a decrease to opening retained earnings on January 1, 2023 of $1.1 million, net of related income taxes. ASC 326 also replaced the Corporation’s previous accounting policies for purchased credit-impaired (PCI) loans and troubled debt restructurings (TDRs). With the adoption of ASC 326, loans previously designated as PCI loans were designated as PCD loans. The Corporation adopted ASC 326 using the prospective transition approach for PCD loans that were previously identified as PCI and accounted for under ASC 310-30. On January 1, 2023, the Corporation’s PCD loans were adjusted to reflect the addition of $604,000 of expected credit losses to the amortized cost basis of the loans and a corresponding increase to the ACL. The remaining noncredit discount, the difference between the adjusted amortized cost basis and the outstanding principal balance on PCD loans, will be accreted into interest income over the estimated remaining lives of the loans using the effective interest rate method. The evaluation of the ACL will include PCD loans together with other loans that share similar risk characteristics, rather than using the separate pools that were used under PCI accounting. The adoption of ASC 326 also replaced previous TDR accounting guidance, and the evaluation of the ACL will include loans previously designated as TDRs together with other loans that share similar risk characteristics. The adoption of ASC 326 did not affect the carrying value of debt securities or the amount of unrealized gains and losses recorded in accumulated other comprehensive loss. Upon adoption of ASC 326, the Corporation did not have any securities included in its portfolio where other-than-temporary-impairments had previously been recognized or that required an ACL. See Note 1 for accounting policies related to securities, loans held for investment, the allowance for credit losses on loans and the reserve for unfunded commitments. The following table illustrates the impact of adopting ASC 326. December 31, 2022 January 1, 2023 January 1, 2023 As Previously As Reported Reported Impact of Under (Dollars in thousands) (Incurred Loss) ASC 326 ASC 326 Assets: Loans, gross $ 1,635,718 $ 604 $ 1,636,322 Allowance for credit losses: Commercial 11,219 (22) 11,197 Consumer 3,330 107 3,437 Consumer finance 25,969 406 26,375 Allowance for credit losses 40,518 491 41,009 Loans, net 1,595,200 113 1,595,313 Net deferred tax asset 22,014 316 22,330 Liabilities: Reserve for credit losses on unfunded commitments — 1,501 1,501 Total equity: $ 196,233 $ (1,072) $ 195,161

Securities

Securities	12 Months Ended
Securities	Dec. 31, 2024
Securities
Securities	NOTE 3: Securities The Corporation’s debt securities, all of which are classified as available for sale, are summarized in the table below. The Corporation has elected to exclude accrued interest receivable, totaling $2.32 million and $2.73 million at December 31, 2024 and 2023, respectively, from the amortized cost basis of securities. December 31, 2024 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value U.S. Treasury securities $ 10,985 $ — $ (285) $ 10,700 U.S. government agencies and corporations 68,772 — (8,113) 60,659 Mortgage-backed securities 197,923 69 (15,556) 182,436 Obligations of states and political subdivisions 147,532 691 (4,613) 143,610 Corporate and other debt securities 23,404 29 (2,213) 21,220 $ 448,616 $ 789 $ (30,780) $ 418,625 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 December 31, 2024, by the earlier of contractual maturity or expected maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties. December 31, 2024 Amortized (Dollars in thousands) Cost Fair Value Due in one year or less $ 69,210 $ 66,454 Due after one year through five years 184,479 170,833 Due after five years through ten years 137,716 127,666 Due after ten years 57,211 53,672 $ 448,616 $ 418,625 The following table presents the gross realized gains and losses on and the proceeds from the sales, maturities and calls of securities. There were no sales of securities during the years ended December 31, 2024, 2023 and 2022. Year Ended December 31, (Dollars in thousands) 2024 2023 2022 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 $ 100,601 $ 100,812 $ 55,328 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 $212.92 million and an aggregate fair value of $196.10 million were pledged at December 31, 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 December 31, 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 $ — $ — $ 10,700 $ 285 $ 10,700 $ 285 U.S. government agencies and corporations — — 60,659 8,113 60,659 8,113 Mortgage-backed securities 53,734 1,253 123,307 14,303 177,041 15,556 Obligations of states and political subdivisions 31,981 412 66,743 4,201 98,724 4,613 Corporate and other debt securities 474 26 19,717 2,187 20,191 2,213 Total $ 86,189 $ 1,691 $ 281,126 $ 29,089 $ 367,315 $ 30,780 There were 570 debt securities with a fair value below the amortized cost basis, totaling $367.32 million of aggregate fair value as of December 31, 2024. The Corporation concluded that a credit loss did not exist in its securities portfolio at December 31, 2024, and no allowance for credit losses 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 $3.59 million at December 31, 2024 and consisted of 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 December 31, 2024 and no impairment has been recognized.

Loans

Loans	12 Months Ended
Loans	Dec. 31, 2024
Loans
Loans	NOTE 4: 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 $8.27 million and $7.65 million at December 31, 2024 and 2023, respectively, from the recorded balance of loans. December 31, December 31, (Dollars in thousands) 2024 2023 Commercial real estate $ 734,182 $ 668,122 Commercial business 104,947 115,348 Construction - commercial real estate 132,717 69,768 Land acquisition and development 46,072 29,064 Builder lines 35,605 24,668 Construction - consumer real estate 18,799 11,223 Residential mortgage 308,809 293,256 Equity lines 62,204 51,592 Other consumer 10,270 10,588 Consumer finance - automobiles 398,651 401,276 Consumer finance - marine and recreational vehicles 68,142 67,234 Subtotal 1,920,398 1,742,139 Less allowance for credit losses (40,087) (39,651) Loans, net $ 1,880,311 $ 1,702,488 Other consumer loans included $255,000 and $228,000 of demand deposit overdrafts at December 31, 2024 and 2023, respectively. The following table shows the aging of the Corporation’s loan portfolio, by class, at December 31, 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 $ 26 $ — $ — $ 26 $ 734,156 $ 734,182 $ — Commercial business 29 — — 29 104,918 104,947 — Construction - commercial real estate — — — — 132,717 132,717 — Land acquisition and development — — — — 46,072 46,072 — Builder lines — — — — 35,605 35,605 — Construction - consumer real estate 747 — — 747 18,052 18,799 — Residential mortgage 1,012 1,076 426 2,514 306,295 308,809 334 Equity lines 85 — 76 161 62,043 62,204 76 Other consumer 9 — — 9 10,261 10,270 — Consumer finance - automobiles 14,703 2,650 599 17,952 380,699 398,651 — Consumer finance - marine and recreational vehicles 215 22 15 252 67,890 68,142 — Total $ 16,826 $ 3,748 $ 1,116 $ 21,690 $ 1,898,708 $ 1,920,398 $ 410 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 $124,000, 30-59 days past due of $117,000 and 90+ days past due of $706,000. 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 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 $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 December 31, 2024 and December 31, 2023. The Corporation recognized $27,000 in interest income on loans on nonaccrual status as of December 31, 2024, and had $11,000 of reversals of interest income upon placing loans on nonaccrual status during the year ended December 31, 2024. All nonaccrual loans as of December 31, 2024 and 2023 had an allowance for credit losses, with none individually evaluated. December 31, December 31, (Dollars in thousands) 2024 2023 Residential mortgage $ 333 $ 320 Equity lines — 77 Other consumer — 9 Consumer finance - automobiles 599 892 Consumer finance - marine and recreational vehicles 15 — Total $ 947 $ 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 December 31, 2024 and 2023 that were both experiencing financial difficulty and modified during the years ended December 31, 2024 and 2023. Year Ended December 31, 2024 % of Total Class of Amortized Financing (Dollars in thousands) Cost Receivable Term Extension Commercial real estate $ 93 0.0 % Commercial business 20 0.0 Residential mortgage 439 0.1 Total Term Extension $ 552 Combination Term Extension and Interest Rate Reduction Residential mortgage $ 17 0.0 % Total Combination Term Extension and Interest Rate Reduction $ 17 Total $ 569 0.0 % Year Ended December 31, 2023 % of Total Class of Amortized Financing (Dollars in thousands) Cost Receivable Term Extension Commercial real estate $ 1,127 0.2 % Commercial business 169 0.1 Residential mortgage 70 0.0 Total Term Extension $ 1,366 Combination Term Extension and Interest Rate Reduction Commercial real estate $ 45 0.0 % Commercial business 174 0.2 Total Combination Term Extension and Interest Rate Reduction $ 219 Total $ 1,585 0.1 % The following tables present the financial effects of the loan modifications presented above to borrowers experiencing financial difficulty for the years ended December 31, 2024 and 2023. Year Ended December 31, 2024 Weighted- Weighted- Average Average Interest Rate Term Extension (Dollars in thousands) Reduction (in years) Commercial real estate — % 1.0 Commercial business — 2.3 Residential mortgage 1.51 6.1 Total 1.51 % 5.1 Year Ended December 31, 2023 Weighted- Weighted- Average Average Interest Rate Term Extension (Dollars in thousands) Reduction (in years) Commercial real estate 0.75 % 2.6 Commercial business 1.75 4.1 Residential mortgage — 10.0 Total 1.54 % 3.2 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 year ended December 31, 2024 and 2023 of loans to borrowers experiencing financial difficulties that were modified during the previous twelve months, and all were current as of December 31, 2024 and 2023.

Allowance for Credit Losses

Allowance for Credit Losses	12 Months Ended
Allowance for Credit Losses	Dec. 31, 2024
Allowance for Credit Losses
Allowance for Credit Losses	NOTE 5: Allowance for Credit Losses The following table shows the allowance for credit losses activity by loan portfolio for the years ended December 31, 2024 and 2023: Consumer (Dollars in thousands) Commercial Consumer Finance Total Balance at December 31, 2023 $ 12,315 $ 3,758 $ 23,578 $ 39,651 Provision charged to operations 1,058 442 11,600 13,100 Loans charged off (63) (377) (16,723) (17,163) Recoveries of loans previously charged off 37 209 4,253 4,499 Balance at December 31, 2024 $ 13,347 $ 4,032 $ 22,708 $ 40,087 Consumer (Dollars in thousands) Commercial Consumer Finance Total 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 978 498 6,650 8,126 Loans charged off (16) (356) (13,743) (14,115) Recoveries of loans previously charged off 156 179 4,296 4,631 Balance at December 31, 2023 $ 12,315 $ 3,758 $ 23,578 $ 39,651 The following table presents the changes in the allowance for loan losses by major classification for the year ended December 31, 2022, prior to the adoption of ASC 326: Real Estate Commercial, Residential Real Estate Financial & Equity Consumer (Dollars in thousands) Mortgage Construction Agricultural Lines Consumer Finance Total Balance at December 31, 2021 $ 2,660 $ 856 $ 11,085 $ 593 $ 172 $ 24,791 $ 40,157 Provision charged to operations (54) (68) (534) (98) 186 3,740 3,172 Loans charged off (2) — (140) — (260) (7,016) (7,418) Recoveries of loans previously charged off 18 — 20 2 113 4,454 4,607 Balance at December 31, 2022 $ 2,622 $ 788 $ 10,431 $ 497 $ 211 $ 25,969 $ 40,518 The following table presents a breakdown of the provision for credit losses for the periods indicated. Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Provision for credit losses: Provision for loans $ 13,100 $ 8,126 $ 3,172 Provision for unfunded commitments 150 149 — Total $ 13,250 $ 8,275 $ 3,172 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, 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 $ 91,330 $ 80,445 $ 161,794 $ 131,071 $ 110,055 $ 158,437 $ — $ 110 $ 733,242 Special Mention — — — — — 940 — — 940 Total $ 91,330 $ 80,445 $ 161,794 $ 131,071 $ 110,055 $ 159,377 $ — $ 110 $ 734,182 Commercial business: Loan Rating Pass $ 9,425 $ 13,097 $ 14,663 $ 13,954 $ 8,843 $ 22,690 $ 22,206 $ 69 $ 104,947 Total $ 9,425 $ 13,097 $ 14,663 $ 13,954 $ 8,843 $ 22,690 $ 22,206 $ 69 $ 104,947 Construction - commercial real estate: Loan Rating Pass $ 47,294 $ 55,159 $ 24,320 $ — $ 5,944 $ — $ — $ — $ 132,717 Total $ 47,294 $ 55,159 $ 24,320 $ — $ 5,944 $ — $ — $ — $ 132,717 Land acquisition and development: Loan Rating Pass $ 33,129 $ 2,653 $ 366 $ 1,323 $ 8,601 $ — $ — $ — $ 46,072 Total $ 33,129 $ 2,653 $ 366 $ 1,323 $ 8,601 $ — $ — $ — $ 46,072 Builder lines: Loan Rating Pass $ 30,651 $ 3,120 $ 1,430 $ — $ — $ 404 $ — $ — $ 35,605 Total $ 30,651 $ 3,120 $ 1,430 $ — $ — $ 404 $ — $ — $ 35,605 Construction - consumer real estate: Loan Rating Pass $ 16,472 $ 2,327 $ — $ — $ — $ — $ — $ — $ 18,799 Total $ 16,472 $ 2,327 $ — $ — $ — $ — $ — $ — $ 18,799 Residential mortgage: Loan Rating Pass $ 47,653 $ 58,590 $ 80,991 $ 38,833 $ 34,979 $ 45,831 $ — $ — $ 306,877 Special Mention — 890 — 223 103 211 — — 1,427 Substandard — — — — — 172 — — 172 Substandard Nonaccrual 125 — 92 — — 116 — — 333 Total $ 47,778 $ 59,480 $ 81,083 $ 39,056 $ 35,082 $ 46,330 $ — $ — $ 308,809 Equity lines: Loan Rating Pass $ — $ — $ — $ — $ 60 $ 628 $ 61,077 $ 277 $ 62,042 Special Mention — — — — — — — 76 76 Substandard — — — — — — — 86 86 Total $ — $ — $ — $ — $ 60 $ 628 $ 61,077 $ 439 $ 62,204 Other consumer: Loan Rating Pass $ 5,274 $ 2,384 $ 1,547 $ 257 $ 132 $ 630 $ 46 $ — $ 10,270 Total $ 5,274 $ 2,384 $ 1,547 $ 257 $ 132 $ 630 $ 46 $ — $ 10,270 Total: Loan Rating Pass $ 281,228 $ 217,775 $ 285,111 $ 185,438 $ 168,614 $ 228,620 $ 83,329 $ 456 $ 1,450,571 Special Mention — 890 — 223 103 1,151 — 76 2,443 Substandard — — — — — 172 — 86 258 Substandard Nonaccrual 125 — 92 — — 116 — — 333 Total $ 281,353 $ 218,665 $ 285,203 $ 185,661 $ 168,717 $ 230,059 $ 83,329 $ 618 $ 1,453,605 1 Commercial business and equity lines include $69,000 and $179,000 , respectively, of revolving loans converted to term during the year ended December 31, 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 December 31, 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 $ 22,161 $ 10,039 $ 7,971 $ 2,359 $ 426 $ 77 $ — $ — $ 43,033 Good 40,296 25,730 29,455 9,402 1,574 334 — — 106,791 Fairly good 41,881 34,058 37,486 16,935 3,213 1,602 — — 135,175 Fair 25,796 21,278 24,379 13,260 3,674 2,194 — — 90,581 Marginal 5,049 4,383 5,621 4,856 1,681 1,481 — — 23,071 Total $ 135,183 $ 95,488 $ 104,912 $ 46,812 $ 10,568 $ 5,688 $ — $ — $ 398,651 Consumer finance - marine and recreational vehicles: Credit rating 1 Very good $ 8,124 $ 6,283 $ 12,670 $ 8,003 $ 7,927 $ 3,754 $ — $ — $ 46,761 Good 4,515 6,426 6,832 1,326 1,178 625 — — 20,902 Fairly good — 200 183 35 27 34 — — 479 Total $ 12,639 $ 12,909 $ 19,685 $ 9,364 $ 9,132 $ 4,413 $ — $ — $ 68,142 Total: Credit rating 1 Very good $ 30,285 $ 16,322 $ 20,641 $ 10,362 $ 8,353 $ 3,831 $ — $ — $ 89,794 Good 44,811 32,156 36,287 10,728 2,752 959 — — 127,693 Fairly good 41,881 34,258 37,669 16,970 3,240 1,636 — — 135,654 Fair 25,796 21,278 24,379 13,260 3,674 2,194 — — 90,581 Marginal 5,049 4,383 5,621 4,856 1,681 1,481 — — 23,071 Total $ 147,822 $ 108,397 $ 124,597 $ 56,176 $ 19,700 $ 10,101 $ — $ — $ 466,793 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 year ended December 31, 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 Commercial business $ 63 $ — $ — $ — $ — $ — $ — $ — $ 63 Residential mortgage 13 — — — — — — — 13 Other consumer 1 278 19 5 — — 62 — — 364 Consumer finance - automobiles 843 3,323 7,080 3,705 670 691 — — 16,312 Consumer finance - marine and recreational vehicles — 56 240 58 43 14 — — 411 Total $ 1,197 $ 3,398 $ 7,325 $ 3,763 $ 713 $ 767 $ — $ — $ 17,163 1 Gross charge-offs of other consumer loans for the year ended December 31, 2024 included $256,000 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 year ended December 31, 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 Residential mortgage — — 4 — — — — — 4 Equity lines — — — — — 8 — — 8 Other consumer 1 308 28 — 3 2 3 — — 344 Consumer finance - automobiles 1,246 6,169 3,783 833 735 716 — — 13,482 Consumer finance - marine and recreational vehicles — 127 51 40 6 37 — — 261 Total $ 1,554 $ 6,340 $ 3,838 $ 876 $ 743 $ 764 $ — $ — $ 14,115 1 Gross charge-offs of other consumer loans for the year ended December 31, 2023 included $308,000 of demand deposit overdrafts that originated in 2023. Gross charge-offs increased for the year ended December 31, 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, the number of repossessions, and the average amount charged-off when a loan was uncollectable. Loans charged-off in 2024 and 2023 were primarily purchased in 2021 and 2022, when the wholesale values of automobiles were higher. Wholesale values of automobiles were generally lower in 2024 than 2023, resulting in larger amounts charged-off per loan. As of December 31, 2024, 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.

OREO

OREO	12 Months Ended
OREO	Dec. 31, 2024
OREO
OREO	NOTE 6: OREO At December 31, 2024 and 2023, the carrying amount of OREO was $1.32 million and zero, respectively. At December 31, 2024, OREO was primarily comprised of a property previously used by the Bank as a branch, which was consolidated into a nearby branch in 2024. Changes in the balance for OREO are as follows: Year Ended December 31, (Dollars in thousands) 2024 2023 Balance at the beginning of year, gross $ — $ — Additions — — Transfers from bank premises 1,827 — Charge-offs — — Sales proceeds (416) — Gain on disposition 120 — Balance at the end of year, gross 1,531 — Less valuation allowance (215) — Balance at the end of year, net $ 1,316 $ — Changes in the allowance for OREO losses are as follows: Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Balance at the beginning of year $ — $ — $ — Provision for losses 215 — — Charge-offs, net — — — Balance at the end of year $ 215 $ — $ — Net OREO gains of $120,000 were recognized upon the disposal of real estate in connection with the sale of a former branch location and are included in other income (loss), net in the Consolidated Statement of Income for 2024. OREO losses, including expenses associated with OREO properties, of $218,000 and $2,000 are included in other noninterest expense in the Consolidated Statements of Income for 2024 and 2022, respectively. There were no net OREO losses or expenses during 2023.

Corporate Premises and Equipmen

Corporate Premises and Equipment	12 Months Ended
Corporate Premises and Equipment	Dec. 31, 2024
Corporate Premises and Equipment
Corporate Premises and Equipment	NOTE 7: Corporate Premises and Equipment Major classifications of corporate premises and equipment are summarized as follows: December 31, (Dollars in thousands) 2024 2023 Land $ 8,838 $ 9,024 Buildings 48,543 49,732 Equipment, furniture and fixtures 24,209 23,557 81,590 82,313 Less accumulated depreciation (41,472) (40,399) $ 40,118 $ 41,914 Depreciation expense for the years ended December 31, 2024, 2023 and 2022 was $3.14 million, $3.29 million and $3.74 million, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
Goodwill and Other Intangible Assets	Dec. 31, 2024
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	NOTE 8: Goodwill and Other Intangible Assets The carrying amount of goodwill was $25.19 million at December 31, 2024 and 2023. There were no changes in the recorded balance of goodwill during the years ended December 31, 2024, 2023 or 2022. The Corporation had $1.15 million and $1.41 million of other intangible assets as of December 31, 2024 and 2023, respectively. Other intangible assets were recognized in connection with the core deposits acquired from Peoples Bankshares, Incorporated (Peoples) 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: December 31, 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 $ (700) $ 1,711 $ (588) Other amortizable intangibles 1,405 (1,269) 1,405 (1,121) Total $ 3,116 $ (1,969) $ 3,116 $ (1,709) Amortization expense was $260,000, $272,000 and $298,000 for the years ended December 31, 2024, 2023 and 2022, respectively. Estimated future amortization expense by year as of December 31, 2024 is as follows: (Dollars in thousands) 2025 $ 237 2026 101 2027 101 2028 101 2029 101 Thereafter 506 Total $ 1,147

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2024
Leases
Leases	NOTE 9: Leases The Corporation’s leases comprise primarily of leases of real estate in which the Corporation is the lessee. Lease cost for the years ended December 31, 2024, 2023 and 2022 is as follows: Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Operating lease cost $ 821 $ 872 $ 1,008 Finance lease cost: Amortization of right-of-use asset 452 314 314 Interest on lease liability 220 121 125 Short-term lease cost 89 99 139 Variable lease cost 121 63 97 Total lease cost $ 1,703 $ 1,469 $ 1,683 Interest on lease liability cost is included in “Interest expense – Borrowings” and all other lease costs are included in “Occupancy” on the Consolidated Statements of Income. Variable lease payments primarily represent payments for common area maintenance, taxes and fees that are not included in base rent payments, and changes in lease payments that are adjusted for inflation. Certain of the Corporation’s leases contain options to extend the lease term beyond the initial term. Options to extend the lease term are recognized as part of the Corporation’s lease liabilities and right-of-use assets at the commencement of a lease to the extent the Corporation is reasonably certain to exercise such options. The Corporation’s right-of-use assets, lease liabilities, weighted average remaining lease term and weighted average discount rate of the Corporation’s leases are set forth in the table below. December 31, December 31, (Dollars in thousands) 2024 2023 Operating leases: Right of use assets $ 2,237 $ 2,836 Lease liabilities $ 2,260 $ 2,877 Weighted average remaining lease term (years) 8.5 8.0 Weighted average discount rate 3.0 % 2.7 % Finance leases: Right of use assets $ 7,316 $ 5,251 Lease liabilities $ 8,169 $ 5,921 Weighted average remaining lease term (years) 15.5 16.5 Weighted average discount rate 3.0 % 2.0 % Right of use assets are included in “Other Assets” on the Consolidated Balance Sheets. Operating lease liabilities are included in “Other Liabilities” and Finance lease liabilities are included in “Long-term Borrowings” in the Consolidated Balance Sheets. During the years ended December 31, 2024, 2023 and 2022, the Corporation assumed lease liabilities to obtain right-of-use assets in operating leases and financing leases of $2.73 million, $775,000 and $888,000, respectively. Cash paid for amounts included in the measurement of lease liabilities for the years ended December 31, 2024, 2023 and 2022 is set forth in the table below. In addition to the amounts paid shown below, the Corporation received lease incentives of $42,000 related to finance leases during the year ended December 31, 2024 and $37,000 related to operating leases during the year ended December 31, 2022. Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Operating leases: Operating cash flows $ 832 $ 905 $ 1,823 Finance leases: Operating cash flows 220 121 125 Financing cash flows 233 220 440 Total cash flows $ 1,285 $ 1,246 $ 2,388 Maturities of the Corporation’s lease liabilities are as follows: December 31, 2024 (Dollars in thousands) Operating Leases Finance Leases 2025 $ 540 $ 512 2026 451 574 2027 220 586 2028 179 602 2029 159 618 Thereafter 1,029 7,360 Total 2,578 10,252 Imputed interest (318) (2,083) Lease liabilities $ 2,260 $ 8,169

Time Deposits

Time Deposits	12 Months Ended
Time Deposits	Dec. 31, 2024
Time Deposits
Time Deposits	NOTE 10: Time Deposits Time deposits are summarized as follows: December 31, (Dollars in thousands) 2024 2023 Certificates of deposit, over $250 $ 264,405 $ 226,423 Other time deposits 553,924 446,776 $ 818,329 $ 673,199 Remaining maturities on time deposits are as follows: (Dollars in thousands) December 31, 2024 2025 $ 705,715 2026 86,966 2027 20,910 2028 2,334 2029 1,857 Thereafter 547 $ 818,329

Borrowings

Borrowings	12 Months Ended
Borrowings	Dec. 31, 2024
Borrowings
Borrowings	NOTE 11: Borrowings The table below presents selected information on short-term borrowings: December 31, (Dollars in thousands) 2024 2023 Balance outstanding at year end 1 $ 28,994 $ 58,223 Maximum balance at any month end during the year $ 58,842 $ 145,579 Average balance for the year $ 29,614 $ 96,882 Weighted average rate for the year 1.88 % 3.79 % Weighted average rate on borrowings at year end 1.64 % 3.00 % Estimated fair value at year end $ 28,993 $ 55,732 1 Consists of $28.99 million of repurchase transactions with customers, which generally mature the day following the day sold and are secured by investment securities at December 31, 2024. Consists of $30.71 million of repurchase transaction with customers, $27.50 million with the FHLB, and $18,000 of overnight fed funds borrowings with correspondent banks at December 31, 2023. Long-term borrowings at December 31, 2024 were comprised of 1) advances from the FHLB consisting of $35.00 million of convertible advances and $5.00 million of fixed rate hybrid advances and 2) $20.00 million of the Corporation’s subordinated notes due in 2030 (the 2030 Subordinated Notes). The FHLB convertible advances have fixed rates of interest unless the FHLB exercises its option to convert the interest on these advances from fixed rate to variable rate. The fixed rate hybrid FHLB advances provide fixed-rate funding until the stated maturity date. C&F Bank may add interest rate caps or floors at a future date, at which time the cost of the caps or floors will be added to the advance note. The table below presents selected information for the FHLB advances at December 31, 2024: Next Conversion (Dollars in thousands) Interest Rate Maturity Date Option Date Fixed Rate Hybrid Advances $ 5,000 4.45 % 03/05/27 Convertible Advances $ 5,000 4.06 % 03/05/27 03/05/25 $ 10,000 4.13 % 06/07/27 03/07/25 $ 10,000 4.68 % 03/23/26 09/23/25 $ 10,000 4.55 % 09/21/26 03/23/26 The 2030 Subordinated Notes bear interest at a fixed rate of 4.875 percent until September 2025 and at the three month SOFR plus 475.5 basis points thereafter. The 2030 Subordinated Notes may be redeemed at the option of the Corporation at any time beginning in September 2025. The Corporation repaid $4.00 million of subordinated notes during 2023. The subordinated notes of the Corporation rank junior to all existing and future senior indebtedness of the Corporation and are structurally subordinated to all existing and future debt and liabilities of the Bank and its subsidiaries. These borrowings are presented in the Consolidated Balance Sheets net of issuance costs and, as applicable, acquisition premium. The contractual maturities of long-term borrowings at December 31, 2024 are as follows: (Dollars in thousands) Fixed Rate Floating Rate Total 2025 $ — $ — $ — 2026 20,000 — 20,000 2027 20,000 — 20,000 2028 — — — 2029 — — — Thereafter 20,000 — 20,000 $ 60,000 $ — $ 60,000 The Corporation’s available sources of credit for future borrowings total approximately $606.23 million at December 31, 2024, which consisted of $217.73 million available from the FHLB, $313.50 million available from the FRB, $75.00 million under unsecured federal funds agreements with third party financial institutions. Credit available from the FHLB is secured by a blanket floating lien on all qualifying closed-end and revolving, open-end loans of C&F Bank secured by 1-4 family residential properties. Credit available from the FRB is secured by liens on specific loans of C&F Bank. Additional loans and securities are available that can be pledged as collateral for future borrowings from the FRB or the FHLB above the current lendable collateral value. C&F Financial Statutory Trust I (Trust I), C&F Financial Statutory Trust II (Trust II) and Central Virginia Bankshares Statutory Trust I (CVBK Trust I) are wholly-owned non-operating subsidiaries of the Corporation, formed for the purpose of issuing trust preferred capital securities. Collectively, these trusts have issued $25.00 million of trust preferred capital securities to institutional investors through private placements and $775,000 in common equity that is held by the Corporation. Trust preferred capital securities of $5.00 million issued by CVBK Trust I, $10.00 million issued by Trust I, and $10.00 million issued by Trust II mature in 2033, 2035 and 2037, respectively, and are redeemable at the Corporation’s option. Each of the trusts is required to make quarterly distributions to the holders of the securities at a rate based on the three-month SOFR plus a spread of between 1.57 percent and 3.15 percent. During 2024, 2023 and 2022, the Corporation used interest rate swaps in designated cash flow hedges of interest payments on the trust preferred capital securities to mitigate the effects of changes in interest rates. The interest rate swaps manage the Corporation’s exposure to variability in cash flows for periods that end between June 2026 and June 2029. At December 31, 2024, the effect of the interest rate swaps was a fixed rate of interest on the securities issued by CVBK Trust I, Trust I and Trust II of 4.64 percent, 5.80 percent and 5.10 percent, respectively. The principal assets of CVBK Trust I, Trust I and Trust II are trust preferred capital notes of the Corporation of $5.16 million, $10.31 million and $10.31 million, respectively, which have like maturities and like interest rates to the trust preferred capital securities. The interest payments by the Corporation on the notes will be used by the trusts to pay the quarterly distributions on the trust preferred capital securities. The trusts are unconsolidated subsidiaries of the Corporation, and the Corporation’s trust preferred capital notes are presented as liabilities in the Consolidated Balance Sheets net of acquisition discount, as applicable. Subject to certain exceptions and limitations, the Corporation may elect from time to time to defer interest payments on the junior subordinated debt securities, which would result in a deferral of distribution payments on the related capital securities.

Equity, Other Comprehensive Inc

Equity, Other Comprehensive Income and Earnings Per Share	12 Months Ended
Equity, Other Comprehensive Income and Earnings Per Share	Dec. 31, 2024
Equity, Other Comprehensive Income and Earnings Per Share
Equity, Other Comprehensive Income and Earnings Per Share	NOTE 12: Equity, Other Comprehensive Income and Earnings Per Share Equity and Noncontrolling Interest The Board of Directors authorized a program, effective January 1, 2024 through December 31, 2024, to repurchase up to $10.0 million of the Corporation’s common stock (the 2024 Repurchase Program). During the year ended December 31, 2024, the Corporation repurchased 160,694 shares, or $7.95 million, of its common stock under the 2024 Repurchase Program. In December 2024, the Board of Directors authorized a program, effective January 1, 2025 through December 31, 2025, to repurchase up to $5.0 million of the Corporation’s common stock (the 2025 Repurchase Program). Under the Corporation’s previous share repurchase programs authorized by the Board of Directors, the Corporation repurchased 135,327 shares, or $7.51 million, and 89,373 shares, or $4.60 million, of its common stock during the year’s ended December 31, 2023 and 2022, respectively. Additionally, during the years ended December 31, 2024, 2023 and 2022, the Corporation withheld 13,937 shares, 12,039 shares and 7,696 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 years ended December 31, 2024, 2023 and 2022: 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 1,657 1,146 (238) 2,565 Related income tax effects (348) (240) 61 (527) 1,309 906 (177) 2,038 Reclassifications into net income — 62 (6) 56 Related income tax effects — (13) 2 (11) — 49 (4) 45 Other comprehensive income (loss), net of tax 1,309 955 (181) 2,083 Accumulated other comprehensive (loss) income at December 31, 2024 $ (23,693) $ (1,797) $ 886 $ (24,604) 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 12,883 508 (526) 12,865 Related income tax effects (2,705) (106) 135 (2,676) 10,178 402 (391) 10,189 Reclassifications into net income 5 104 (6) 103 Related income tax effects (1) (22) 2 (21) 4 82 (4) 82 Other comprehensive income (loss), net of tax 10,182 484 (395) 10,271 Accumulated other comprehensive (loss) income at December 31, 2023 $ (25,002) $ (2,752) $ 1,067 $ (26,687) Securities Defined Cash Available Benefit Flow (Dollars in thousands) For Sale Plan Hedges Total Accumulated other comprehensive income (loss) at December 31, 2021 $ 437 $ (2,055) $ (469) $ (2,087) Other comprehensive (loss) income arising during the period (45,090) (1,465) 2,607 (43,948) Related income tax effects 9,469 308 (671) 9,106 (35,621) (1,157) 1,936 (34,842) Reclassifications into net income — (30) (7) (37) Related income tax effects — 6 2 8 — (24) (5) (29) Other comprehensive (loss) income, net of tax (35,621) (1,181) 1,931 (34,871) Accumulated other comprehensive (loss) income at December 31, 2022 $ (35,184) $ (3,236) $ 1,462 $ (36,958) The following table provides information regarding the reclassifications from accumulated other comprehensive loss into net income for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, Line Item In the Consolidated (Dollars in thousands) 2024 2023 2022 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 (129) (171) (38) Noninterest expenses - Other Amortization of prior service credit into net income 67 67 68 Noninterest expenses - Other Related income tax effects 13 22 (6) Income tax expense (49) (82) 24 Net of tax Cash flow hedges: Amortization of hedging gains into net income 6 6 7 Interest expense - Trust preferred capital notes Related income tax effects (2) (2) (2) Income tax expense 4 4 5 Net of tax Total reclassifications into net income $ (45) $ (82) $ 29 1 See “Note 14: Employee Benefit Plans,” for additional information. Earnings Per Share (EPS) The components of the Corporation’s EPS calculations are as follows: Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Net income attributable to C&F Financial Corporation $ 19,834 $ 23,604 $ 29,159 Weighted average shares outstanding — 3,299,574 3,411,995 3,517,114 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.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2024
Income Taxes
Income Taxes	NOTE 13: Income Taxes Principal components of income tax expense as reflected in the Consolidated Statements of Income are as follows: Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Current taxes $ 3,741 $ 4,832 $ 6,887 Deferred taxes 474 586 708 $ 4,215 $ 5,418 $ 7,595 Income tax expense for the years ended December 31, 2024, 2023 and 2022 differed from the federal statutory rate applied to income before income taxes for the following reasons: Year Ended December 31, 2024 2023 2022 (Dollars in thousands) Amount Percent Amount Percent Amount Percent Income tax at statutory rates $ 5,068 21.0 % $ 6,124 21.0 % $ 7,762 21.0 % State income taxes, net of federal benefit 15 0.1 82 0.3 536 1.5 Tax-exempt interest income (626) (2.6) (582) (2.0) (427) (1.1) Excess compensation 79 0.3 38 0.1 — — Income from bank-owned life insurance (178) (0.7) (104) (0.4) (130) (0.4) Investments in qualified housing projects (87) (0.4) (75) (0.3) (56) (0.2) Share based compensation (111) (0.5) (114) (0.4) (37) (0.1) Other 55 0.2 49 0.2 (53) (0.1) $ 4,215 17.4 % $ 5,418 18.5 % $ 7,595 20.6 % The Corporation’s net deferred income taxes totaled $17.72 million and $18.73 million at December 31, 2024 and 2023, respectively. The tax effects of each type of significant item that gave rise to deferred taxes are: December 31, (Dollars in thousands) 2024 2023 Deferred tax assets Allowances for credit losses, reserve for unfunded commitments and OREO losses $ 10,238 $ 10,123 Net unrealized loss on securities available for sale 6,298 6,646 Nonqualified deferred compensation plan 3,781 3,969 Lease liabilities 2,216 1,877 Fair value adjustments related to business combinations 251 377 Share-based compensation 736 857 Reserve for indemnification losses 313 433 Accrued expenses 521 562 Other 783 778 Deferred tax assets 25,137 25,622 Deferred tax liabilities Goodwill and other intangible assets (2,992) (3,027) Right of use assets (2,034) (1,728) Depreciation (1,213) (1,175) Defined benefit plan (862) (583) Cash flow hedges (317) (378) Deferred tax liabilities (7,418) (6,891) Net deferred tax assets $ 17,719 $ 18,731 The Corporation files income tax returns in the U.S. federal jurisdiction and several states. With few exceptions, the Corporation is no longer subject to U.S. federal, state and local income tax examinations by tax authorities for years prior to 2021.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2024
Employee Benefit Plans
Employee Benefit Plans	NOTE 14: Employee Benefit Plans The Corporation’s subsidiaries maintain defined contribution plans that provide the opportunity for voluntary tax-qualified deferral to substantially all of its full-time employees who are at least 18 years of age. These plans also provide for employer contributions as a discretionary or non-discretionary matching contribution and in some cases as a discretionary profit-sharing contribution to the account of each participant. The total expense recognized in connection with these qualified defined contribution plans for 2024, 2023 and 2022 were $1.47 million, $1.55 million and $1.44 million, respectively. C&F Bank has a non-contributory, defined benefit pension plan (Cash Balance Plan) for many of its full-time employees over 21 years of age. During 2021, C&F Bank amended its Cash Balance Plan and closed the plan to new entrants hired after December 31, 2021. Benefits earned by participants in the plan hired before January 1, 2022 were not affected by the amendment and will continue to accrue for active participants. Under the Cash Balance Plan, the benefit account for each participant will grow each year with annual pay credits based on age and years of service and monthly interest credits based on the yield on 30-year Treasuries plus 150 basis points, but no less than three percent. C&F Bank funds pension costs in accordance with the funding provisions of the Employee Retirement Income Security Act. The Corporation has a nonqualified deferred compensation plan for certain executives. The plan allows for elective deferrals of salary, bonus and commissions. The plan also allows for discretionary employer contributions to enhance retirement benefits by supplementing the benefits provided under tax-qualified plans. Expenses under this plan were $378,000, $325,000 and $345,000 in 2024, 2023 and 2022, respectively. The deferred compensation liability under the nonqualified plan is not required to be funded, however, the currently liability is funded and held in a rabbi trust and invested according to participant elections. These investments are included in other assets and the related liability is included in other liabilities. In 2014, the Corporation approved an additional compensation benefit for the Corporation’s Chief Executive Officer at the time to provide post-retirement medical and dental coverage for him and his spouse for life. Expense recognized for this arrangement in 2022 was $10,000. There was no expense recognized in the years ended December 31, 2024 and 2023, with all estimated amounts having been accrued. The remaining related liability is included in other liabilities. The following table summarizes the projected benefit obligations, plan assets, funded status and related assumptions associated with the Cash Balance Plan based upon actuarial valuations. December 31, (Dollars in thousands) 2024 2023 Change in benefit obligation Projected benefit obligation, beginning $ 16,812 $ 15,267 Service cost 1,414 1,377 Interest cost 757 728 Actuarial (gain) loss (802) 527 Benefits paid (1,128) (1,087) Projected benefit obligation, ending 17,053 16,812 Change in plan assets Fair value of plan assets, beginning 19,588 18,356 Actual return on plan assets 1,697 2,319 Employer contributions 1,000 — Benefits paid (1,128) (1,087) Fair value of plan assets, ending 21,157 19,588 Funded status $ 4,104 $ 2,776 Amounts recognized as an other asset $ 4,104 $ 2,776 Amounts recognized in accumulated other comprehensive loss Net loss $ 2,443 $ 3,718 Prior service credits (168) (235) Deferred taxes (478) (731) Total recognized in accumulated other comprehensive loss $ 1,797 $ 2,752 Weighted-average assumptions for benefit obligation at valuation date Discount rate 5.4 % 4.7 % Rate of compensation increase 3.0 3.0 Interest crediting rate 5.0 5.0 The accumulated benefit obligation was $17.05 million and $16.81 million as of the actuarial valuation dates December 31, 2024 and 2023, respectively. The actuarial gain of $802,000 on the projected benefit obligation for 2024 and the actuarial loss of $527,000 on the projected benefit obligation for 2023 were due primarily to fluctuations in the discount rate as well as demographic changes in the population. The Cash Balance Plan contains provisions that allow participants the option of receiving their pension benefits in a lump sum upon retirement or, in certain cases, prior to retirement. The Corporation’s accounting policy is to record these payments as a settlement only if, in the aggregate for a given year, they exceed the sum of the annual service cost and interest cost for the Cash Balance Plan. There were no lump sum pension settlement payments which exceeded the settlement threshold during 2024 or 2023. The following table summarizes the components of net periodic benefit cost and related assumptions associated with the Cash Balance Plan. Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Components of net periodic benefit cost: Service cost, included in salaries and employee benefits $ 1,414 $ 1,377 $ 1,837 Other components of net periodic benefit cost: Interest cost 757 728 492 Expected return on plan assets (1,351) (1,284) (1,660) Amortization of prior service credit (67) (67) (68) Recognized net actuarial losses 129 171 38 Other components of net periodic benefit cost, included in other noninterest expense (532) (452) (1,198) Net periodic benefit cost $ 882 $ 925 $ 639 January 1, 2024 2023 2022 Weighted-average assumptions for net periodic benefit cost Discount rate 4.7 % 4.9 % 2.5 % Expected return on plan assets 7.3 7.3 7.3 Rate of compensation increase 3.0 3.0 3.0 Interest crediting rate 5.0 5.0 5.0 The benefits expected to be paid by the plan in the next ten years are as follows: (Dollars in thousands) 2025 $ 1,495 2026 1,009 2027 938 2028 1,766 2029 1,818 2030 – 2034 12,589 C&F Bank selects the expected long-term rate of return on assets in consultation with its investment advisors and actuary. This rate is intended to reflect the average rate of earnings expected to be earned on the funds invested or to be invested to provide plan benefits. Historical performance is reviewed, especially with respect to real rates of return (net of inflation), for the major asset classes held or anticipated to be held by the trust and for the trust itself. Undue weight is not given to recent experience, which may not continue over the measurement period. Higher significance is placed on current forecasts of future long-term economic conditions. Because assets are held in a qualified trust, anticipated returns are not reduced for taxes. Further, solely for this purpose, the plan is assumed to continue in force and not terminate during the period during which assets are invested. However, consideration is given to the potential impact of current and future investment policy, cash flow into and out of the trust, and expenses (both investment and non-investment) typically paid from plan assets (to the extent such expenses are not explicitly within periodic costs). C&F Bank’s defined benefit pension plan’s weighted average asset allocations by asset category are as follows: December 31, 2024 2023 Mutual funds-fixed income 37 % 40 % Mutual funds-equity 63 60 Cash and equivalents * * 100 % 100 % * Less than one percent. The following table summarizes the fair value of the defined benefit plan assets as of December 31, 2024 and 2023. For more information about fair value measurements, see “Note 19: Fair Value of Assets and Liabilities.” December 31, 2024 Fair Value Measurements Using Assets at Fair (Dollars in thousands) Level 1 Level 2 Level 3 Value Mutual funds-fixed income 1 $ 7,828 $ — $ — $ 7,828 Mutual funds-equity 2 13,329 — — 13,329 Cash and equivalents 3 — — — — Total pension plan assets $ 21,157 $ — $ — $ 21,157 December 31, 2023 Fair Value Measurements Using Assets at Fair (Dollars in thousands) Level 1 Level 2 Level 3 Value Mutual funds-fixed income 1 $ 7,835 $ — $ — $ 7,835 Mutual funds-equity 2 11,753 — — 11,753 Cash and equivalents 3 — — — — Total pension plan assets $ 19,588 $ — $ — $ 19,588 1 This category includes investments in mutual funds focused on fixed income securities with both short-term and long-term investments. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the funds. 2 This category includes investments in mutual funds focused on equity securities with a diversified portfolio and includes investments in large cap and small cap funds, growth funds, international focused funds and value funds. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the funds. 3 This category comprises cash and short-term cash equivalent funds. The funds are valued at cost which approximates fair value. The trust fund is sufficiently diversified to maintain a reasonable level of risk without imprudently sacrificing return, with a targeted asset allocation of 40 percent fixed income and 60 percent equities. The investment advisor selects investment fund managers with demonstrated experience and expertise, and funds with demonstrated historical performance, for the implementation of the plan’s investment strategy. The investment manager will consider both actively and passively managed investment strategies and will allocate funds across the asset classes to develop an efficient investment structure. It is the responsibility of the trustee to administer the investments of the trust within reasonable costs, being careful to avoid sacrificing quality. These costs include, but are not limited to, management and custodial fees, consulting fees, transaction costs and other administrative costs chargeable to the trust.

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2024
Related Party Transactions
Related Party Transactions	NOTE 15: Related Party Transactions Loans outstanding to the Corporation’s management, including directors and senior officers and certain of their affiliates, totaled $1.22 million and $1.21 million at December 31, 2024 and 2023, respectively. For the year ended December 31, 2024, the Corporation made $437,000 new loan advances to directors and senior officers and received repayments totaling $424,000. Total deposits of directors and senior officers and their related interests were $6.22 million and $4.91 million at December 31, 2024 and 2023, respectively. In the opinion of management, these transactions were made in the ordinary course of business on substantially the same terms and conditions, including interest rates, collateral and repayment terms, as those prevailing at the same time for comparable transactions with unrelated persons, and, in the opinion of management and the Corporation’s Board of Directors, do not involve more than normal risk or present other unfavorable features.

Share-Based Plans

Share-Based Plans	12 Months Ended
Share-Based Plans	Dec. 31, 2024
Share-Based Plans
Share-Based Plans	NOTE 16: Share-Based Plans On April 19, 2022, the Corporation’s shareholders approved the C&F Financial Corporation 2022 Stock and Incentive Compensation Plan, (the 2022 Plan) for the grant of equity awards to certain key employees of the Corporation, as well as non-employee directors and consultants. The 2022 Plan authorizes the Corporation to issue equity awards in the form of stock options, restricted stock, restricted stock units and other stock-based awards. Since the 2022 Plan’s approval, equity awards have only been issued in the form of restricted stock. Prior to the approval of the 2022 Plan, the Corporation granted equity awards under the 2013 Stock and Incentive Compensation Plan, (the 2013 Plan). The 2013 Plan authorized the Corporation to issue equity awards in the form of stock options, tandem stock appreciation rights, restricted stock, restricted stock units and/or other stock-based awards. All equity awards under the 2013 Plan were issued in the form of restricted stock. As permitted under the plans, 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 2023 2022 Weighted- Weighted- Weighted- Average Average Average Grant Date Grant Date Grant Date Shares Fair Value Shares Fair Value Shares Fair Value Nonvested at beginning of year 135,694 $ 52.13 145,677 $ 48.88 140,577 $ 48.57 Granted 32,320 60.15 36,945 62.87 36,435 54.18 Vested (46,801) 51.39 (43,383) 50.59 (26,200) 54.73 Cancelled (1,435) 53.69 (3,545) 49.37 (5,135) 48.28 Nonvested at end of year 119,778 54.56 135,694 52.13 145,677 48.88 The fair value of shares that vested during the years ended December 31, 2024, 2023 and 2022 were $2.73 million, $2.52 million, and $1.39 million, respectively. Compensation is accounted for using the fair value of the Corporation’s common stock on the date the restricted shares are awarded. Compensation expense is charged to income ratably over the required service periods and was $1.92 million ( $1.29 million after income taxes) in 2024, $1.99 million ( $1.35 million after income taxes) in 2023 and $1.97 million ( $1.42 million after income taxes) in 2022. As of December 31, 2024, there was $3.65 million of total unrecognized compensation cost related to restricted stock granted under the plan, which is expected to be recognized over a weighted-average period of 3.0 years and through 2029.

Regulatory Requirements and Res

Regulatory Requirements and Restrictions	12 Months Ended
Regulatory Requirements and Restrictions	Dec. 31, 2024
Regulatory Requirements and Restrictions
Regulatory Requirements and Restrictions	NOTE 17: Regulatory Requirements and Restrictions The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Corporation’s and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Federal banking regulations also impose regulatory capital requirements on bank holding companies. Under the small bank holding company policy statement of the FRB, which applies to certain bank holding companies with consolidated total assets of less than $3 billion, the Corporation is not subject to regulatory capital requirements. As of December 31, 2024, the most recent notification from the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized under regulations applicable at December 31, 2024, the Bank was required to maintain minimum total risk-based, Tier 1 risk-based, CET1 risk-based and Tier 1 leverage ratios as set forth in the tables below. The total capital ratio, Tier 1 capital ratio and CET1 ratio are calculated as a percentage of risk-weighted assets. The Tier 1 leverage ratio is calculated as a percentage of average tangible assets. The Corporation’s and the Bank’s actual capital amounts and ratios as of December 31, 2024 and 2023 are presented in the following tables along with regulatory requirements for the Bank and requirements that apply to bank holding companies that are subject to regulatory capital requirements for bank holding companies. The Corporation’s consolidated capital is determined under regulations that apply to bank holding companies that are not small bank holding companies. Although the minimum regulatory capital requirements are not applicable to the Corporation, the Corporation calculates these ratios for its own planning and monitoring purposes. Total risk-weighted assets at December 31, 2024 for the Corporation were $2.13 billion and for the Bank were $2.10 billion. Total risk-weighted assets at December 31, 2023 for the Corporation were $1.95 billion and for the Bank were $1.92 billion. Management believes that, as of December 31, 2024, the Bank met all capital adequacy requirements to which it is subject. December 31, 2024 Minimum Capital Well Capitalized Actual Requirements Requirements (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio The Corporation Total risk-based capital ratio $ 299,157 14.1 % $ 170,256 8.0 % $ N/A N/A % Tier 1 risk-based capital ratio 252,373 11.9 127,692 6.0 N/A N/A Common Equity Tier 1 capital ratio 227,373 10.7 95,769 4.5 N/A N/A Tier 1 leverage ratio 252,373 9.8 102,645 4.0 N/A N/A The Bank Total risk-based capital ratio $ 284,550 13.5 % $ 168,233 8.0 % $ 210,291 10.0 % Tier 1 risk-based capital ratio 258,078 12.3 126,175 6.0 168,233 8.0 Common Equity Tier 1 capital ratio 258,078 12.3 94,631 4.5 136,689 6.5 Tier 1 leverage ratio 258,078 10.1 101,805 4.0 127,256 5.0 December 31, 2023 Minimum Capital Well Capitalized Actual Requirements Requirements (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio The Corporation Total risk-based capital ratio $ 289,396 14.8 % $ 155,927 8.0 % $ N/A N/A % Tier 1 risk-based capital ratio 244,830 12.6 116,945 6.0 N/A N/A Common Equity Tier 1 capital ratio 219,830 11.3 87,709 4.5 N/A N/A Tier 1 leverage ratio 244,830 10.1 97,449 4.0 N/A N/A The Bank Total risk-based capital ratio $ 271,952 14.1 % $ 153,816 8.0 % $ 192,270 10.0 % Tier 1 risk-based capital ratio 247,712 12.9 115,362 6.0 153,816 8.0 Common Equity Tier 1 capital ratio 247,712 12.9 86,522 4.5 124,976 6.5 Tier 1 leverage ratio 247,712 10.3 96,655 4.0 120,819 5.0 The Basel III rules established a “capital conservation buffer” of additional capital of 2.5 percent above the regulatory minimum risk-based capital ratios, which is not included in the tables above. Including the capital conservation buffer, the minimum ratios are a common equity Tier 1 risk-based capital ratio of 7.0 percent, a Tier 1 risk-based capital ratio of 8.5 percent and a total risk-based capital ratio of 10.5 percent. The Corporation and the Bank exceeded these ratios at December 31, 2024 and 2023. Between 2003 and 2007, the Corporation’s statutory business trusts issued $25.00 million of aggregate trust preferred securities. Based on the Corporation’s Tier 1 capital levels, the entire $25.00 million of trust preferred securities was included in the Corporation’s Tier 1 capital as of December 31, 2024 and 2023. The Corporation’s 2030 Subordinated Notes, issued in 2020, qualifies for inclusion in Tier 2 capital of the Corporation as of December 31, 2024 and 2023. The Corporation’s 2028 Subordinated Notes of $4.0 million, assumed upon the acquisition of Peoples in 2020, qualified for inclusion in Tier 2 capital of the Corporation as of December 31, 2022 and was repaid during 2023. In each case, the amount included in regulatory capital with respect to trust preferred securities or subordinated notes may be reduced as those instruments near maturity. Federal and state banking regulations place certain restrictions on dividends paid and loans or advances made by C&F Bank to the Corporation. The total amount of dividends that may be paid at any date by C&F Bank is generally limited to the retained earnings of C&F Bank, while other measures of capital adequacy may also restrict the Bank’s ability to declare dividends.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
Commitments and Contingent Liabilities	Dec. 31, 2024
Commitments and Contingent Liabilities
Commitments and Contingent Liabilities	NOTE 18: 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 credit-worthiness on a case-by-case basis. The amount of loan commitments at the Bank was $469.77 million at December 31, 2024 and $413.53 million at December 31, 2023, which does not include IRLCs at the mortgage banking segment, which are discussed in Note 21. Off balance sheet credit exposures, including loan commitments, are not recorded on balance sheet, but expected credit losses arising from off balance sheet credit exposures are recorded as a reserve for unfunded commitments and reported in Other Liabilities. The reserve for unfunded commitments was established in 2023 with the adoption of ASC 326. The following table presents the Corporation’s reserve for unfunded commitments for the periods indicated. Year Ended December 31, (Dollars in thousands) 2024 2023 Balance at the beginning of year $ 1,650 $ — Impact of ASC 326 adoption — 1,501 Provision charged to operations 150 149 Balance at the end of year $ 1,800 $ 1,650 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 $18.79 million at December 31, 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. During the year ended December 31, 2024, the Corporation recorded a net reversal of provision for indemnifications of $460,000 , compared to a net reversal of provision for indemnifications of $585,000 for the year ended December 31, 2023, which is included in “Noninterest Expenses – Other” on the Consolidated Statements of Income. The following table presents the changes in the allowance for indemnification losses for the periods presented: Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Allowance, beginning of period $ 1,809 $ 2,394 $ 3,252 Net reversal of provision for indemnification losses (460) (585) (858) Payments — — — Allowance, end of period $ 1,349 $ 1,809 $ 2,394

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
Fair Value of Assets and Liabilities	Dec. 31, 2024
Fair Value of Assets and Liabilities
Fair Value of Assets and Liabilities	NOTE 19: 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. ● 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 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. Changes in fair value are recognized in net income. The funds are managed by investment companies, and the net asset value of each fund is reported regularly by the investment companies. At December 31, 2024 and 2023, the combined fair value of these investments was $1.66 million and $1.93 million, respectively. These investments, measured at net asset value, are not presented in the tables below related to fair value measurements. Changes in fair value of these investments resulted in the recognition of unrealized gains of $273,000 and $344,000 for the year ended December 31, 2024 and 2023, respectively. 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. At December 31, 2024 and 2023, the fair value of these investments was $4.17 million and $3.75 million, respectively. These investments are recorded at fair value based on the contractual redemption value of Corporation’s proportionate share of the agencies equity and included in other assets in the Consolidated Balance Sheets. Changes in fair value are recognized in net income and resulted in the recognition of unrealized gains of $687,000 and $333,000 for the years ended December 31, 2024 and 2023, respectively. 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 December 31, 2024 or 2023. December 31, 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 $ — $ 10,700 $ — $ 10,700 U.S. government agencies and corporations — 60,659 — 60,659 Mortgage-backed securities — 182,436 — 182,436 Obligations of states and political subdivisions — 143,610 — 143,610 Corporate and other debt securities — 21,220 — 21,220 Total securities available for sale — 418,625 — 418,625 Loans held for sale — 20,112 — 20,112 Other investments — 4,167 — 4,167 Derivatives IRLC — 585 — 585 Interest rate swaps on loans — 4,636 — 4,636 Cash flow hedges — 1,169 — 1,169 Total assets $ — $ 449,294 $ — $ 449,294 Liabilities: Derivatives Interest rate swaps on loans $ — $ 4,636 $ — $ 4,636 Total liabilities $ — $ 4,636 $ — $ 4,636 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. 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 nonrecurring basis in the financial statements. OREO. The following table presents the balances of assets measured at fair value on a nonrecurring basis at December 31, 2024. There were December 31, 2024 Fair Value Measurements Classified as Assets at Fair (Dollars in thousands) Level 1 Level 2 Level 3 Value Other real estate owned, net $ — $ — $ 1,316 $ 1,316 Total $ — $ — $ 1,316 $ 1,316 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 December 31, 2024 Classified as Total Fair (Dollars in thousands) Value Level 1 Level 2 Level 3 Value Financial assets: Cash and short-term investments $ 66,853 $ 65,586 $ 1,265 $ — $ 66,851 Securities available for sale 418,625 — 418,625 — 418,625 Loans, net 1,880,311 — — 1,838,887 1,838,887 Loans held for sale 20,112 — 20,112 — 20,112 Other investments 4,167 — 4,167 — 4,167 Derivatives IRLC 585 — 585 — 585 Interest rate swaps on loans 4,636 — 4,636 — 4,636 Cash flow hedges 1,169 — 1,169 — 1,169 Bank-owned life insurance 21,191 — 21,191 — 21,191 Accrued interest receivable 10,592 10,592 — — 10,592 Financial liabilities: Demand and savings deposits 1,352,531 1,352,531 — — 1,352,531 Time deposits 818,329 — 819,276 — 819,276 Borrowings 114,440 — 105,533 — 105,533 Derivatives Interest rate swaps on loans 4,636 — 4,636 — 4,636 Accrued interest payable 4,403 4,403 — — 4,403 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 The Corporation assumes interest rate risk (the risk that general interest rate levels will change) in the normal course of operations. As a result, the fair values of the Corporation’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Corporation. Management attempts to match maturities of assets and liabilities to the extent believed necessary to balance minimizing interest rate risk and increasing net interest income in current market conditions. However, borrowers with fixed rate obligations are less likely to prepay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors interest rates, maturities and repricing dates of assets and liabilities and attempts to manage interest rate risk by adjusting terms of new loans, deposits and borrowings and by investing in securities with terms that mitigate the Corporation’s overall interest rate risk.

Business Segments

Business Segments	12 Months Ended
Business Segments	Dec. 31, 2024
Business Segments
Business Segments	NOTE 20: 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. The Corporation’s chief operating decision makers (CODMs) are the President/Chief Executive Officer and the Chief Financial Officer. The CODMs use net income to evaluate income generated from segment assets in deciding whether to reinvest profits into the segments or into other parts of the entity, such as for acquisitions or to pay dividends. Net income is used to monitor budget versus actual results. The CODMs also use net income in competitive analysis by benchmarking to the Corporation’s competitors. The competitive analysis along with the monitoring of budgeted versus actual results are used in assessing performance of the segments and in establishing management’s compensation. Interest expense is allocated to the mortgage banking and consumer finance segments through borrowings from the community banking segment. 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, that carry interest rates 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 a variable rate line of credit that carries 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. Year Ended December 31, 2024 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 87,600 $ 1,897 $ 49,684 $ — $ 413 $ 139,594 Interest expense 40,498 — — 2,321 — 42,819 Net interest income before allocation 47,102 1,897 49,684 (2,321) 413 96,775 Net interest allocation 1 24,456 (796) (23,660) — — — Net interest income 71,558 1,101 26,024 (2,321) 413 96,775 Gain on sales of loans — 6,421 — — (357) 6,064 Other noninterest income 17,723 4,602 1,024 1,363 (238) 24,474 Net revenue 89,281 12,124 27,048 (958) (182) 127,313 Less: Provision for credit losses 1,650 — 11,600 — — 13,250 Salaries and employee benefits 36,252 7,069 8,026 2,231 — 53,578 Occupancy expense 6,887 890 620 — — 8,397 Data processing 8,927 1,012 1,328 47 — 11,314 Professional fees 2,834 103 312 362 — 3,611 Insurance expense 1,575 111 146 — — 1,832 Marketing and advertising expenses 748 426 39 — — 1,213 Loan processing and collection expenses 256 917 1,488 — — 2,661 Provision for indemnifications — (460) — — — (460) Other segment items 2 5,395 528 1,577 350 (66) 7,784 Total noninterest expense 62,874 10,596 13,536 2,990 (66) 89,930 Income (loss) before taxes 24,757 1,528 1,912 (3,948) (116) 24,133 Income tax expense (benefit) 4,473 420 498 (1,152) (24) 4,215 Net income (loss) $ 20,284 $ 1,108 $ 1,414 $ (2,796) $ (92) $ 19,918 Other data: Total assets $ 2,449,641 $ 29,837 $ 472,672 $ 31,823 $ (420,599) $ 2,563,374 Total loans held for investment, net 1,436,226 — 444,085 — — 1,880,311 Total deposits 2,186,139 — — — (15,279) 2,170,860 Capital expenditures 3,101 210 175 — — 3,486 Depreciation and amortization 3,433 86 338 — — 3,857 1 Interest expense is allocated to the mortgage banking and consumer finance segments through borrowings from the community banking segment. 2 Other segment items for each reportable segment include: a. Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses and expense, net periodic pension cost, office supplies, and certain overhead expenses. b. Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses. c. Consumer finance – licenses and taxes other expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses. Year Ended December 31, 2023 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 74,949 $ 1,695 $ 47,264 $ — $ 229 $ 124,137 Interest expense 24,184 — — 2,246 — 26,430 Net interest income before allocation 50,765 1,695 47,264 (2,246) 229 97,707 Net interest allocation 1 23,438 (612) (22,826) — — — Net interest income 74,203 1,083 24,438 (2,246) 229 97,707 Gain on sales of loans — 5,845 — — (65) 5,780 Other noninterest income 16,465 4,353 962 2,257 (202) 23,835 Net revenue 90,668 11,281 25,400 11 (38) 127,322 Less: Provision for credit losses 1,625 — 6,650 — — 8,275 Salaries and employee benefits 36,004 6,996 8,732 3,144 — 54,876 Occupancy expense 6,354 1,005 634 — — 7,993 Data processing 8,564 1,008 1,280 22 — 10,874 Professional fees 2,149 101 310 192 — 2,752 Insurance expense 1,396 128 135 — — 1,659 Marketing and advertising expenses 1,075 428 45 — — 1,548 Loan processing and collection expenses 248 1,047 2,022 — — 3,317 Provision for indemnifications — (585) — — — (585) Other segment items 2 5,023 560 1,658 267 (59) 7,449 Total noninterest expense 60,813 10,688 14,816 3,625 (59) 89,883 Income (loss) before taxes 28,230 593 3,934 (3,614) 21 29,164 Income tax expense (benefit) 5,302 128 1,055 (1,066) (1) 5,418 Net income (loss) $ 22,928 $ 465 $ 2,879 $ (2,548) $ 22 $ 23,746 Other data: Total assets $ 2,319,810 $ 22,177 $ 476,671 $ 35,581 $ (415,741) $ 2,438,498 Total loans held for investment, net 1,257,557 — 444,931 — — 1,702,488 Total deposits 2,084,327 — — — (18,197) 2,066,130 Capital expenditures 1,301 12 146 — — 1,459 Depreciation and amortization 3,402 79 398 — — 3,879 1 Interest expense is allocated to the mortgage banking and consumer finance segments through borrowings from the community banking segment. 2 Other segment items for each reportable segment include: a. Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses expense, net periodic pension cost, office supplies, and certain overhead expenses. b. Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses. c. Consumer finance – licenses and other taxes expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses. Year Ended December 31, 2022 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 56,782 $ 2,036 $ 42,441 $ — $ 95 $ 101,354 Interest expense 5,532 — — 2,358 — 7,890 Net interest income before allocation 51,250 2,036 42,441 (2,358) 95 93,464 Net interest allocation 1 15,786 (662) (15,124) — — — Net interest income 67,036 1,374 27,317 (2,358) 95 93,464 Gain on sales of loans — 7,963 — — (465) 7,498 Other noninterest income 19,250 4,856 1,050 (3,230) (212) 21,714 Net revenue 86,286 14,193 28,367 (5,588) (582) 122,676 Less: Provision for credit losses (600) 32 3,740 — — 3,172 Salaries and employee benefits 33,770 7,599 8,939 (2,441) — 47,867 Occupancy expense 6,633 1,271 660 — — 8,564 Data processing 7,889 1,137 1,458 30 — 10,514 Professional fees 2,121 180 267 199 — 2,767 Insurance expense 858 61 130 — — 1,049 Marketing and advertising expenses 1,185 518 102 — — 1,805 Loan processing and collection expenses 199 1,683 2,096 — — 3,978 Provision for indemnifications — (858) — — — (858) Other segment items 2 4,063 989 1,632 230 (60) 6,854 Total noninterest expense 56,718 12,580 15,284 (1,982) (60) 82,540 Income (loss) before taxes 30,168 1,581 9,343 (3,606) (522) 36,964 Income tax expense (benefit) 5,794 371 2,512 (973) (109) 7,595 Net income (loss) $ 24,374 $ 1,210 $ 6,831 $ (2,633) $ (413) $ 29,369 Other data: Total assets $ 2,206,299 $ 24,500 $ 479,864 $ 43,241 $ (421,587) $ 2,332,317 Total loans held for investment, net 1,145,940 671 448,589 — — 1,595,200 Total deposits 2,029,951 — — — (26,091) 2,003,860 Capital expenditures 3,265 66 17 — — 3,348 Depreciation and amortization 3,720 226 410 — — 4,356 1 Interest expense is allocated to the mortgage banking and consumer finance segments through borrowings from the community banking segment. 2 Other segment items for each reportable segment include: a. Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses and expense, net periodic pension cost, office supplies, and certain overhead expenses. b. Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses. c. Consumer finance – licenses and taxes other expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
Derivative Financial Instruments	Dec. 31, 2024
Derivative Financial Instruments
Derivative Financial Instruments	NOTE 21: 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 These interest rate swaps are derivative financial instruments that manage the risk of variability in cash flows by exchanging variable-rate interest payments on a notional amount of the Corporation’s borrowings for fixed-rate interest payments. Interest rate swaps designated as cash flow hedges are expected to be highly effective in offsetting the effect of changes in interest rates on the amount of variable-rate interest payments, and the Corporation assesses the effectiveness of each hedging relationship quarterly. If the Corporation determines that a cash flow hedge is no longer highly effective, future changes in the fair value of the hedging instrument would be reported in earnings. As of December 31, 2024, the Corporation has designated cash flow hedges to manage its exposure to variability in cash flows on certain variable rate borrowings for periods that end between June 2026 and June 2029. 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. These cash flow hedges are reported at fair value in “other assets” in the Consolidated Balance Sheets. 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. Refer to Note 12 for additional information on amounts reclassified into net income related to these cash flow hedges. Loan swaps Mortgage banking At December 31, 2024, the mortgage banking segment had $39.29 million of IRLCs and $20.11 million of unpaid principal on mortgage loans held for sale for which it managed interest rate risk using best-efforts forward sales contracts for $59.40 million in mortgage loans. At December 31, 2023, the mortgage banking segment had $26.15 million of IRLCs and $14.18 million of unpaid principal on 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. December 31, 2024 Notional (Dollars in thousands) Amount Assets Liabilities Cash flow hedges: Interest rate swap contracts $ 25,000 $ 1,169 $ — Not designated as hedges: Customer-related interest rate swap contracts: Matched interest rate swaps with borrower 77,820 — 4,636 Matched interest rate swaps with counterparty 77,820 4,636 — Mortgage banking contracts: IRLCs 39,291 585 — 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 December 31, 2024 and 2023, there was no cash collateral maintained with dealer counterparties.

Holding Company Condensed Finan

Holding Company Condensed Financial Information	12 Months Ended
Holding Company Condensed Financial Information	Dec. 31, 2024
Holding Company Condensed Financial Information
Holding Company Condensed Financial Information	NOTE 22: Holding Company Condensed Financial Information The following tables present the condensed balance sheets as of December 31, 2024 and 2023 and the condensed statements of comprehensive income and cash flows for the years ended December 31, 2024, 2023 and 2022 for the Corporation on a standalone basis: December 31, (Dollars in thousands) 2024 2023 Condensed Balance Sheets Assets Cash $ 10,513 $ 13,467 Other assets 21,901 22,210 Investment in C&F Bank 255,803 243,409 Total assets $ 288,217 $ 279,086 Liabilities and equity Trust preferred capital notes $ 25,457 $ 25,422 Long-term borrowings 19,989 19,973 Other liabilities 16,411 16,813 Equity 226,360 216,878 Total liabilities and equity $ 288,217 $ 279,086 Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Condensed Statements of Income and Comprehensive Income (Loss) Interest expense on borrowings $ (2,321) $ (2,246) $ (2,358) Dividends received from C&F Bank 12,500 10,600 12,500 Equity in undistributed net income of C&F Bank 10,130 15,552 19,292 Other income 1,363 2,257 (3,230) Other expenses (1,838) (2,559) 2,955 Net income 19,834 23,604 29,159 Other comprehensive income (loss), net of tax 2,083 10,271 (34,871) Comprehensive income (loss) $ 21,917 $ 33,875 $ (5,712) Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Condensed Statements of Cash Flows Operating activities: Net cash provided by operating activities $ 11,404 $ 8,926 $ 9,750 Investing activities: Swap collateral, net — — 2,705 Net cash provided by investing activities — — 2,705 Financing activities: Repayment of borrowings — (4,000) — Common stock repurchases (8,761) (7,758) (5,373) Cash dividends (5,780) (5,986) (5,756) Other financing activities, net 183 191 184 Net cash used in financing activities (14,358) (17,553) (10,945) Net (decrease) increase in cash and cash equivalents (2,954) (8,627) 1,510 Cash at beginning of year 13,467 22,094 20,584 Cash at end of year $ 10,513 $ 13,467 $ 22,094

Other Noninterest Expenses

Other Noninterest Expenses	12 Months Ended
Other Noninterest Expenses	Dec. 31, 2024
Other Noninterest Expenses.
Other Noninterest Expenses	NOTE 23: Other Noninterest Expenses The following table presents the significant components in the Consolidated Statements of Income line “Noninterest Expenses-Other.” Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Telecommunication expenses $ 1,529 $ 1,330 $ 1,368 Postage and courier expenses 1,049 994 881 Licenses and taxes expense 1,004 918 975 Travel and educational expenses 994 1,272 1,393 Other real estate owned losses and expenses, net 218 — 2 Other components of net periodic pension cost (532) (452) (1,198) Provision for indemnifications (460) (585) (858) All other noninterest expenses 3,522 3,387 3,433 Total other noninterest expenses $ 7,324 $ 6,864 $ 5,996

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 19,834	$ 23,604	$ 29,159

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 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

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	The Corporation considers cybersecurity a subset of information security, and as such, cybersecurity risks and controls are assessed in our information security risk assessment and managed in our Information Security Program (ISP). The ISP is developed and maintained utilizing the Federal Financial Institutions Examination Council (FFIEC) Information Technology Examination Handbook and represents the standards, policies, procedures, and guidelines defining the Corporation’s security requirements and related activities, which includes risk management and risk assessment practices. Management has designated the Information Security Officer (ISO), along with the Systems and Information Technology (IT) Steering Committee, with implementing and monitoring the ISP. The Corporation’s IT department consists of the Chief Information Officer (CIO), who has over 40 years of experience in the IT field, including 15 with the Corporation, and other key personnel who have years of experience and various certifications related to assessing and managing cybersecurity risk. Additionally, the Corporation has established a comprehensive enterprise risk management program to monitor risks related to its operations, including cybersecurity risk, and the Corporation’s Chief Risk Officer has primary responsibility for the enterprise risk management program. Management also engages the services of third parties to assist the ISO with their tasks. The Corporation believes that risk management is a component of overall governance and that IT risk management is a component of overall risk management. The Corporation recognizes that our overall security culture contributes to the effectiveness of our ISP. The Corporation maintains an enterprise risk management program that identifies, prioritizes and provides a formal structure for the internal and external risks that impact the organization. The Board of Directors sets the tone and direction for the Corporation’s use of IT and has identified the Audit Committee as having primary responsibility for oversight of the Corporation’s risk exposures and risk assessments and policies, including risks related to cybersecurity. The Board of Directors and Audit Committee approve and periodically review and re-approve the ISP and other IT related policies. While the Board of Directors may delegate the design, implementation, and monitoring of certain IT activities to the CIO or designee, the full Board of Directors remains responsible for overseeing IT strategies and policies, including cybersecurity. To help carry out their responsibilities, Directors, management, and all employees are periodically trained to understand IT activities and risks, including cybersecurity risks. Management, via the Systems and IT Steering Committee and ISO, or combination, provides a status report to the Board of Directors at least annually, with more frequent communications as necessary. The report describes the overall status of the ISP and material matters related to the program, including security breaches, cybersecurity assessments, cybersecurity awareness training for employees and the Board of Directors and results of incident response testing. The Corporation utilizes third-party threat analysis tools such as penetration testing and vulnerability scanning to assist in understanding and supporting the measurement of information security related risks. Additionally, the Corporation uses a third-party tool to help management identify current cybersecurity risks and control maturity levels, and to evaluate overall cybersecurity preparedness. The Corporation has also implemented a gap analysis and action plan designed to identify potential actions that would improve our overall cybersecurity posture, and periodically reevaluates both cybersecurity risks and controls to assure they are commensurate with our size and complexity and are keeping pace with the overall cybersecurity threat environment. Management also obtains, analyzes, and responds to information from various sources on cybersecurity threats and vulnerabilities that may affect the Corporation, while incorporating available information on cybersecurity events into our ISP. Additionally, management develops, maintains, and updates a repository of cybersecurity threat and vulnerability information that may be used in conducting risk assessments, and ultimately provide updates to the Board of Directors on cybersecurity risk trends. The Corporation has not experienced any cybersecurity incidents in the past that have individually or in the aggregate had a materially adverse effect on our business, financial condition or results of operations. Additionally, the Corporation conducts due diligence in the selection and on-going monitoring of third-party service providers. Management is responsible for ensuring that such third parties use suitable information security controls when providing services to us. As part of the oversight of third-party service providers, management will determine whether cybersecurity risks are identified, measured, mitigated, monitored, and reported by such third parties.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The Corporation considers cybersecurity a subset of information security, and as such, cybersecurity risks and controls are assessed in our information security risk assessment and managed in our Information Security Program (ISP). The ISP is developed and maintained utilizing the Federal Financial Institutions Examination Council (FFIEC) Information Technology Examination Handbook and represents the standards, policies, procedures, and guidelines defining the Corporation’s security requirements and related activities, which includes risk management and risk assessment practices.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Board of Directors sets the tone and direction for the Corporation’s use of IT and has identified the Audit Committee as having primary responsibility for oversight of the Corporation’s risk exposures and risk assessments and policies, including risks related to cybersecurity. The Board of Directors and Audit Committee approve and periodically review and re-approve the ISP and other IT related policies. While the Board of Directors may delegate the design, implementation, and monitoring of certain IT activities to the CIO or designee, the full Board of Directors remains responsible for overseeing IT strategies and policies, including cybersecurity. To help carry out their responsibilities, Directors, management, and all employees are periodically trained to understand IT activities and risks, including cybersecurity risks. Management, via the Systems and IT Steering Committee and ISO, or combination, provides a status report to the Board of Directors at least annually, with more frequent communications as necessary. The report describes the overall status of the ISP and material matters related to the program, including security breaches, cybersecurity assessments, cybersecurity awareness training for employees and the Board of Directors and results of incident response testing.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board of Directors sets the tone and direction for the Corporation’s use of IT and has identified the Audit Committee as having primary responsibility for oversight of the Corporation’s risk exposures and risk assessments and policies, including risks related to cybersecurity.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board of Directors and Audit Committee approve and periodically review and re-approve the ISP and other IT related policies. While the Board of Directors may delegate the design, implementation, and monitoring of certain IT activities to the CIO or designee, the full Board of Directors remains responsible for overseeing IT strategies and policies, including cybersecurity. To help carry out their responsibilities, Directors, management, and all employees are periodically trained to understand IT activities and risks, including cybersecurity risks. Management, via the Systems and IT Steering Committee and ISO, or combination, provides a status report to the Board of Directors at least annually, with more frequent communications as necessary. The report describes the overall status of the ISP and material matters related to the program, including security breaches, cybersecurity assessments, cybersecurity awareness training for employees and the Board of Directors and results of incident response testing.
Cybersecurity Risk Role of Management [Text Block]	Management also obtains, analyzes, and responds to information from various sources on cybersecurity threats and vulnerabilities that may affect the Corporation, while incorporating available information on cybersecurity events into our ISP. Additionally, management develops, maintains, and updates a repository of cybersecurity threat and vulnerability information that may be used in conducting risk assessments, and ultimately provide updates to the Board of Directors on cybersecurity risk trends.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Management has designated the Information Security Officer (ISO), along with the Systems and Information Technology (IT) Steering Committee, with implementing and monitoring the ISP.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The Corporation’s IT department consists of the Chief Information Officer (CIO), who has over 40 years of experience in the IT field, including 15 with the Corporation, and other key personnel who have years of experience and various certifications related to assessing and managing cybersecurity risk.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	the Corporation conducts due diligence in the selection and on-going monitoring of third-party service providers. Management is responsible for ensuring that such third parties use suitable information security controls when providing services to us. As part of the oversight of third-party service providers, management will determine whether cybersecurity risks are identified, measured, mitigated, monitored, and reported by such third parties.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2024
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation:
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 20.
Basis of Presentation	Basis of Presentation:
Reclassification	Reclassification:
Significant Group Concentrations of Credit Risk	Significant Group Concentrations of Credit Risk:
Cash and Cash Equivalents	Cash and Cash Equivalents:
Securities	Securities: Impairment of debt securities occurs when the fair value of a security is less than its amortized cost. The Corporation has elected to exclude accrued interest receivable from the amortized cost basis. For debt securities available for sale, impairment is recognized in its entirety in net income if either (i) we intend to sell the security or (ii) it is more-likely-than-not that we will be required to sell the security before recovery of its amortized cost basis. If, however, the Corporation does not intend to sell the security and it is not more-likely-than-not that the Corporation will be required to sell the security before recovery, the Corporation evaluates unrealized losses to determine whether a decline in fair value below amortized cost basis is a result of a credit loss, which occurs when the amortized cost basis of the security exceeds the present value of the cash flows expected to be collected from the security, or other factors such as changes in market interest rates. If a credit loss exists, an allowance for credit losses is recorded that reflects the amount of the impairment related to credit losses, limited by the amount by which the security’s amortized cost basis exceeds its fair value. Changes in the allowance for credit losses are recorded in net income in the period of change and are included in provision for credit losses. Changes in the fair value of debt securities available for sale not resulting from credit losses are recorded in other comprehensive income (loss). The Corporation regularly reviews unrealized losses in its investments in securities and cash flows expected to be collected from impaired securities based on criteria including the extent to which market value is below amortized cost, the financial health of and specific prospects for the issuer, the Corporation’s intention with regard to holding the security to maturity and the likelihood that the Corporation would be required to sell the security before recovery.
Loans Held for Sale	Loans Held for Sale: Fair Value Measurement,
Loans Held for Investment	Loans Held for Investment: Loans acquired in a business combination are recorded at estimated fair value on the date of acquisition. In the case of loans that have experienced more than insignificant deterioration in credit quality since origination as of the acquisition date, the loan’s amortized cost basis is increased above estimated fair value by the amount of expected credit losses as of the acquisition date, and a corresponding allowance for credit losses is also recorded. Any remaining non-credit discount or premium for such purchased loans with credit deterioration (or PCD loans) and any fair value discount or premium for non-PCD loans is accreted or amortized as an adjustment to yield over the estimated lives of the loans using the level-yield method. There is no allowance for credit losses established for non-PCD loans as part of a business combination. Subsequent to a business combination, an allowance for credit losses for non-PCD loans is established through charges to earnings in the form of a provision for credit losses. A loan’s past due status is based on the contractual due date of the most delinquent payment due. Loans are generally placed on nonaccrual status when the collection of principal or interest is 90 days or more past due, or earlier, if collection is uncertain based on an evaluation of the net realizable value of the collateral and the financial strength of the borrower. Any accrued interest receivable on loans placed on nonaccrual status is reversed by an adjustment to interest income. Loans greater than 90 days past due may remain on accrual status if management determines it has adequate collateral to cover the principal and interest. For those loans that are carried on nonaccrual status, payments are first applied to principal outstanding. A loan may be returned to accrual status if the borrower has demonstrated a sustained period of repayment performance in accordance with the contractual terms of the loan and there is reasonable assurance the borrower will continue to make payments as agreed. These policies are applied consistently across our loan portfolio. In the ordinary course of business, the Corporation has entered into commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the Consolidated Balance Sheets when they are funded.
Allowance for Credit Losses on Loans	Allowance for Credit Losses on Loans: The allowance represents management’s current estimate of expected credit losses over the contractual term of loans held for investment, and is recorded at an amount that, in management’s judgment, reduces the recorded investment in loans to the net amount expected to be collected. No allowance for credit loss is recorded on accrued interest receivable and amounts written-off are reversed by an adjustment to interest income. Management’s judgment in determining the level of the allowance is based on evaluations of historical loan losses, current conditions and reasonable and supportable forecasts relevant to the collectability of loans. Loans that share common risk characteristics are evaluated collectively using a discounted cash flow approach for all loans except for overdraft balances, which are evaluated using a loss rate approach. The discounted cash flow approach used by the Corporation utilizes loan-level cash flow projections and pool-level assumptions. For commercial (except for loans to states and political subdivisions) and consumer loans, cash flow projections and estimated expected losses are based in part on twelve-month forecasts of the national unemployment rate that are reasonable and supportable and external observations of historical loan losses. Forecasts of the national unemployment rate are derived from the Federal Open Markets Committee of the Federal Reserve Board and incorporated into the estimate of expected credit losses using a statistical regression analysis. For periods beyond those for which reasonable and supportable forecasts are available, projections are based on a reversion of the national unemployment rate from the last forecast to a historical average level over the following six months. Cash flow projections and estimated expected losses for loans to states and political subdivisions are based on external loss observations for state and municipal debt obligations. For consumer finance loans, cash flow projections and estimated expected losses reflect historical average loss experience based on internal observations for auto loans and based on external loss observations for marine and RV loans. Management’s estimate of the allowance for credit losses on loans that are collectively evaluated also includes a qualitative assessment of available information relevant to assessing collectability that is not captured in the loss estimation process. Factors considered by management include changes and expected changes in general market, economic and business conditions; the nature and volume of the loan portfolio; the volume and severity of delinquencies and adversely classified loan balances and the value of underlying collateral. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. The evaluation also considers the following risk characteristics that are inherent in the loan portfolio: ● Commercial loans are comprised of mortgage loans on commercial real estate, real estate acquisition, development and constructions loans, and other business lending, and carry risks associated with the successful operation of a business or a real estate project and changes in the value of collateral. In addition to other risks associated with the ownership of real estate, the repayment of these loans may be dependent upon the profitability and cash flows of the business or project. Construction loans, which include loans to individuals for the construction of a residence that generally will be occupied by the borrower, also bear the risk that the general contractor, who may or may not be a loan customer, may be unable to finish the construction project as planned because of financial pressure unrelated to the project. In addition, there is risk associated with the value of collateral other than real estate which may depreciate over time and cannot be appraised with as much precision. ● Consumer loans are comprised primarily of residential mortgage loans and home equity lines secured by residential real estate and carry risks associated with the continued credit-worthiness of the borrower and changes in the value of the collateral. ● Consumer finance loans are comprised of indirect financing for purchases of automobiles and marine and RVs and carry risks associated with the continued credit-worthiness of the borrower and changes in the value of the collateral, which are typically rapidly-depreciating vehicles. Consumer finance loans are more likely than real estate loans to be immediately adversely affected by job loss, divorce, illness or personal bankruptcy. Loans that do not share common risk characteristics with other loans are evaluated individually and are not included in the collective analysis. The allowance for credit losses on loans that are individually evaluated may be estimated based on their expected cash flows, or, in the case of loans for which repayment is expected substantially through the operation or sale of collateral when the borrower is experiencing financial difficulty, may be measured based on the fair value of the collateral less estimated costs to sell. Commercial and consumer loans are assigned loan classification ratings based on their credit quality and risk of loss. These loan ratings are reviewed on a quarterly basis and updated as new information becomes available. The characteristics of these loan ratings are as follows: ● Pass rated loans are to persons or business entities with an acceptable financial condition, appropriate collateral margins, appropriate cash flow to service the existing loan, and an appropriate leverage ratio. The borrower has paid all obligations as agreed and it is expected that this type of payment history will continue. When necessary, acceptable personal guarantors support the loan. ● Special mention loans have a specific, identified weakness in the borrower’s operations and in the borrower’s ability to generate positive cash flow on a sustained basis. The borrower’s recent payment history may be characterized by late payments. The Corporation’s risk exposure is mitigated by collateral supporting the loan. The collateral is considered to be well-margined, well-maintained, accessible and readily marketable. ● Substandard loans are considered to have specific and well-defined weaknesses that jeopardize the viability of the Corporation’s credit extension. The payment history for the loan has been inconsistent and the expected or projected primary repayment source may be inadequate to service the loan. The estimated net liquidation value of the collateral pledged and/or ability of the personal guarantor(s) to pay the loan may not adequately protect the Corporation. There is a distinct possibility that the Corporation will sustain some loss if the deficiencies associated with the loan are not corrected in the near term. ● Substandard nonaccrual loans have the same characteristics as substandard loans, however, they have a nonaccrual classification because it is probable that the Corporation will not be able to collect all amounts due. ● Doubtful rated loans have all the weaknesses inherent in a loan that is classified substandard but with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is extremely high. ● Loss rated loans are not considered collectible under normal circumstances and there is no realistic expectation for any future payment on the loan. Loss rated loans are fully charged off. For consumer finance loans, the Corporation utilizes credit scores based on the methods developed and defined by the Fair Isaac Corporation (FICO) as a key indicator of the risk of loss to manage the portfolio and estimate the allowance for credit losses. A FICO Score is a three-digit number based on the information in an applicant’s credit reports. It helps lenders determine how likely an applicant is to repay a loan. This, in turn, affects the loan amount that may be approved, repayment terms, and interest rate. Consumer finance loans are assigned a credit rating based on borrowers’ credit scores at the time of origination and are categorized within ranges of credit ratings used internally that parallel FICO Score rating bands. The Corporation monitors the consumer finance loan portfolio by past due status (refer to Note 3) and by credit rating at the time of origination, which the Corporation believes serves as a relevant indicator of aggregate credit quality and risk of loan defaults in the portfolio based upon the use of FICO Scores over time for loan approval decisions and through experience analyzing loss patterns. The characteristics of these credit ratings and our thresholds are as follows: ● Very Good (>739) and Good (670-739) credit rated borrowers are near or above the average FICO Score of consumers. Borrowers generally have limited to no prior credit difficulties or have shown extensive creditworthiness over a recent period of time. ● Fairly Good (625-669) and Fair (580-624) credit rated borrowers are approaching or slightly below the average FICO Score of consumers but typically have a credit profile acceptable to most lenders. Borrowers may have experienced minor credit difficulties or have a relatively limited credit history. ● Marginal (<580) credit rated borrowers are well below the average FICO Score of consumers. Borrowers may have limited access to traditional financing due to having experienced prior credit difficulties or have a limited credit history. The risk of future charge-offs is higher.
Reserve for Unfunded Commitments	Reserve for Unfunded Commitments:
Allowance for Indemnifications	Allowance for Indemnifications: The allowance represents an amount that, in management’s judgment, will be adequate to absorb any losses that are probable of arising from valid indemnification requests for loans that have been sold by the mortgage banking segment. Management’s judgment in determining the level of the allowance is based on the volume of loans sold, historical experience, current economic conditions, changes in operational and compliance processes, and information provided by investors. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available.
Other Real Estate Owned (OREO)	Other Real Estate Owned (OREO): updated appraisals, general market conditions, recent sales of similar properties, length of time the properties have been held, and our ability and intention with regard to continued ownership of the properties. The Corporation may incur additional write-downs of foreclosed assets to fair value less estimated costs to sell if valuations indicate a further deterioration in market conditions. Revenue and expenses from operations and changes in the property valuations are included in other noninterest expenses and improvements are capitalized. The Corporation records a gain/loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Corporation finances the sale of OREO to the buyer, the Corporation assesses whether the buyer is committed to perform the obligations under the contract and whether collectability of the transaction price is probable. In determining the gain/loss on the sale, the Corporation adjusts the transaction price and the related gain/loss on sale if a significant financing component is present.
Repossessed Assets	Repossessed Assets: Repossessed assets primarily consist of vehicles repossessed by C&F Finance due to borrowers’ payment defaults. The repossession process is generally initiated after a loan becomes more than 60 days delinquent. Most customers have an opportunity to redeem their repossessed vehicles by paying all outstanding balances, including finance charges and fees. Vehicles that are not redeemed within a prescribed waiting period following repossession are then reclassified from loans to repossessed assets available-for-sale (included in other assets) and recorded initially at fair value less estimated costs to sell. The difference between the carrying amount of each loan and the fair value of the vehicle (i.e., the deficiency) is charged against the allowance for credit losses. The waiting period is determined as the length of time after repossession that C&F Finance is prohibited to sell the vehicle under the laws of the state where the vehicle was repossessed. Accounts still in process of collection or for which the Corporation does not have the legal right to sell continue to be classified as loans until such legal authority is obtained. At December 31, 2024, repossessed vehicles at fair value less estimated costs to sell included in other assets totaled $779,000 , compared to $646,000 at December 31, 2023. Repossession expense includes the costs to repossess and sell vehicles. These costs include transportation, storage, rekeying, condition reports, legal fees, fees paid to repossession agents and auction fees. These costs are included in noninterest expenses.
Corporate Premises and Equipment	Corporate Premises and Equipment: Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed using a straight-line method over the estimated useful lives of the assets. Estimated useful lives range from ten to forty years for buildings and from three to ten years for equipment, furniture and fixtures. Leasehold improvements are amortized over the shorter of the life of the related lease or the estimated useful life of the related asset. Maintenance and repairs are charged to expense as incurred and major improvements are capitalized. Upon sale or retirement of depreciable properties, the cost and related accumulated depreciation are netted against proceeds and any resulting gain or loss is included in income.
Goodwill	Goodwill: The Corporation reviews the carrying value of goodwill at least annually or more frequently if certain impairment indicators exist. In testing goodwill for impairment, the Corporation may first consider qualitative factors to determine whether the existence of events or circumstances lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events and circumstances, we conclude that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then no further testing is required and the goodwill of the reporting unit is not impaired. If the Corporation elects to bypass the qualitative assessment or if we conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then the fair value of the reporting unit is compared with its carrying amount to determine whether an impairment exists.
Transfer of Financial Assets	Transfer of Financial Assets:
Income Taxes	Income Taxes: C&F Bank invests in qualified affordable housing projects through housing equity funds, the purpose of which is to encourage investment in low-income residential property development in Virginia by providing a return on investment through federal income tax credits and other tax benefits on losses generated by the projects. C&F Bank recognizes its share of losses on these projects as a component of income tax expense. The benefit of an uncertain tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination by the applicable taxing authority, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. Interest and penalties associated with unrecognized tax benefits are recognized as a component of income tax expense.
Retirement Plan	Retirement Plan:
Share-Based Compensation	Share-Based Compensation:
Earnings Per Share	Earnings Per Share:
Derivative Financial Instruments	Derivative Financial Instruments: The Corporation recognizes derivative financial instruments at fair value as either an other asset or other liability in the Consolidated Balance Sheets. The Corporation’s derivative financial instruments include (1) interest rate swaps that qualify and are designated as cash flow hedges on the Corporation’s trust preferred capital notes, (2) interest rate swaps with certain qualifying commercial loan customers and dealer counterparties and (3) interest rate contracts arising from mortgage banking activities, including interest rate lock commitments (IRLCs) on mortgage loans. The gain or loss on the Corporation’s cash flow hedges is reported as a component of other comprehensive income (loss), net of deferred income taxes, and reclassified into earnings in the same period(s) during which the hedged transactions affect earnings. IRLCs and interest rate swaps with loan customers and dealer counterparties are not designated as hedging instruments, and therefore changes in the fair value of these instruments are reported as noninterest income. The Corporation’s derivative financial instruments are described more fully in Note 21.
Leases	Leases:
Service Charges on Deposit Accounts	Service Charges on Deposit Accounts:
Other Service Charges and Fees	Other Service Charges and Fees:
Interchange Income	Interchange Income:
Wealth Management Services Income, Net	Wealth Management Services Income, Net:
Mortgage Lender Services Income	Mortgage Lender Services Income:
Recent Significant Accounting Pronouncements	Recent Significant Accounting Pronouncements: Income Taxes (Topic 740) – Improvements to Income Tax Disclosures In November 2024, FASB issued ASU 2024-03, “ Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures. 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.

Adoption of New Accounting St_2

Adoption of New Accounting Standards (Tables)	12 Months Ended
Adoption of New Accounting Standards (Tables)	Dec. 31, 2024
Adoption of New Accounting Standards
Schedule of impact of adopting ASC 326	December 31, 2022 January 1, 2023 January 1, 2023 As Previously As Reported Reported Impact of Under (Dollars in thousands) (Incurred Loss) ASC 326 ASC 326 Assets: Loans, gross $ 1,635,718 $ 604 $ 1,636,322 Allowance for credit losses: Commercial 11,219 (22) 11,197 Consumer 3,330 107 3,437 Consumer finance 25,969 406 26,375 Allowance for credit losses 40,518 491 41,009 Loans, net 1,595,200 113 1,595,313 Net deferred tax asset 22,014 316 22,330 Liabilities: Reserve for credit losses on unfunded commitments — 1,501 1,501 Total equity: $ 196,233 $ (1,072) $ 195,161

Securities (Tables)

Securities (Tables)	12 Months Ended
Securities (Tables)	Dec. 31, 2024
Securities
Summary of available for sale debt securities	December 31, 2024 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value U.S. Treasury securities $ 10,985 $ — $ (285) $ 10,700 U.S. government agencies and corporations 68,772 — (8,113) 60,659 Mortgage-backed securities 197,923 69 (15,556) 182,436 Obligations of states and political subdivisions 147,532 691 (4,613) 143,610 Corporate and other debt securities 23,404 29 (2,213) 21,220 $ 448,616 $ 789 $ (30,780) $ 418,625 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	December 31, 2024 Amortized (Dollars in thousands) Cost Fair Value Due in one year or less $ 69,210 $ 66,454 Due after one year through five years 184,479 170,833 Due after five years through ten years 137,716 127,666 Due after ten years 57,211 53,672 $ 448,616 $ 418,625
Schedule of gross realized gains and losses and the proceeds	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 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 $ 100,601 $ 100,812 $ 55,328
Schedule of securities in an unrealized loss position	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 $ — $ — $ 10,700 $ 285 $ 10,700 $ 285 U.S. government agencies and corporations — — 60,659 8,113 60,659 8,113 Mortgage-backed securities 53,734 1,253 123,307 14,303 177,041 15,556 Obligations of states and political subdivisions 31,981 412 66,743 4,201 98,724 4,613 Corporate and other debt securities 474 26 19,717 2,187 20,191 2,213 Total $ 86,189 $ 1,691 $ 281,126 $ 29,089 $ 367,315 $ 30,780 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)	12 Months Ended
Loans (Tables)	Dec. 31, 2024
Loans
Summary of classes of loans	December 31, December 31, (Dollars in thousands) 2024 2023 Commercial real estate $ 734,182 $ 668,122 Commercial business 104,947 115,348 Construction - commercial real estate 132,717 69,768 Land acquisition and development 46,072 29,064 Builder lines 35,605 24,668 Construction - consumer real estate 18,799 11,223 Residential mortgage 308,809 293,256 Equity lines 62,204 51,592 Other consumer 10,270 10,588 Consumer finance - automobiles 398,651 401,276 Consumer finance - marine and recreational vehicles 68,142 67,234 Subtotal 1,920,398 1,742,139 Less allowance for credit losses (40,087) (39,651) Loans, net $ 1,880,311 $ 1,702,488
Schedule of past due status of loans	The following table shows the aging of the Corporation’s loan portfolio, by class, at December 31, 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 $ 26 $ — $ — $ 26 $ 734,156 $ 734,182 $ — Commercial business 29 — — 29 104,918 104,947 — Construction - commercial real estate — — — — 132,717 132,717 — Land acquisition and development — — — — 46,072 46,072 — Builder lines — — — — 35,605 35,605 — Construction - consumer real estate 747 — — 747 18,052 18,799 — Residential mortgage 1,012 1,076 426 2,514 306,295 308,809 334 Equity lines 85 — 76 161 62,043 62,204 76 Other consumer 9 — — 9 10,261 10,270 — Consumer finance - automobiles 14,703 2,650 599 17,952 380,699 398,651 — Consumer finance - marine and recreational vehicles 215 22 15 252 67,890 68,142 — Total $ 16,826 $ 3,748 $ 1,116 $ 21,690 $ 1,898,708 $ 1,920,398 $ 410 1 For the purposes of the table above, “Current” includes loans that are 1-29 days past due. 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 For the purposes of the table above, “Current” includes loans that are 1-29 days past due.
Schedule of loans on nonaccrual status	December 31, December 31, (Dollars in thousands) 2024 2023 Residential mortgage $ 333 $ 320 Equity lines — 77 Other consumer — 9 Consumer finance - automobiles 599 892 Consumer finance - marine and recreational vehicles 15 — Total $ 947 $ 1,298
Summary of amortized cost basis of loans that were both experiencing financial difficulty and modified	Year Ended December 31, 2024 % of Total Class of Amortized Financing (Dollars in thousands) Cost Receivable Term Extension Commercial real estate $ 93 0.0 % Commercial business 20 0.0 Residential mortgage 439 0.1 Total Term Extension $ 552 Combination Term Extension and Interest Rate Reduction Residential mortgage $ 17 0.0 % Total Combination Term Extension and Interest Rate Reduction $ 17 Total $ 569 0.0 % Year Ended December 31, 2023 % of Total Class of Amortized Financing (Dollars in thousands) Cost Receivable Term Extension Commercial real estate $ 1,127 0.2 % Commercial business 169 0.1 Residential mortgage 70 0.0 Total Term Extension $ 1,366 Combination Term Extension and Interest Rate Reduction Commercial real estate $ 45 0.0 % Commercial business 174 0.2 Total Combination Term Extension and Interest Rate Reduction $ 219 Total $ 1,585 0.1 % Year Ended December 31, 2024 Weighted- Weighted- Average Average Interest Rate Term Extension (Dollars in thousands) Reduction (in years) Commercial real estate — % 1.0 Commercial business — 2.3 Residential mortgage 1.51 6.1 Total 1.51 % 5.1 Year Ended December 31, 2023 Weighted- Weighted- Average Average Interest Rate Term Extension (Dollars in thousands) Reduction (in years) Commercial real estate 0.75 % 2.6 Commercial business 1.75 4.1 Residential mortgage — 10.0 Total 1.54 % 3.2

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	12 Months Ended
Allowance for Credit Losses (Tables)	Dec. 31, 2024
Allowance for Credit Losses
Schedule of changes in the allowance for credit and loan losses	Consumer (Dollars in thousands) Commercial Consumer Finance Total Balance at December 31, 2023 $ 12,315 $ 3,758 $ 23,578 $ 39,651 Provision charged to operations 1,058 442 11,600 13,100 Loans charged off (63) (377) (16,723) (17,163) Recoveries of loans previously charged off 37 209 4,253 4,499 Balance at December 31, 2024 $ 13,347 $ 4,032 $ 22,708 $ 40,087 Consumer (Dollars in thousands) Commercial Consumer Finance Total 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 978 498 6,650 8,126 Loans charged off (16) (356) (13,743) (14,115) Recoveries of loans previously charged off 156 179 4,296 4,631 Balance at December 31, 2023 $ 12,315 $ 3,758 $ 23,578 $ 39,651 Real Estate Commercial, Residential Real Estate Financial & Equity Consumer (Dollars in thousands) Mortgage Construction Agricultural Lines Consumer Finance Total Balance at December 31, 2021 $ 2,660 $ 856 $ 11,085 $ 593 $ 172 $ 24,791 $ 40,157 Provision charged to operations (54) (68) (534) (98) 186 3,740 3,172 Loans charged off (2) — (140) — (260) (7,016) (7,418) Recoveries of loans previously charged off 18 — 20 2 113 4,454 4,607 Balance at December 31, 2022 $ 2,622 $ 788 $ 10,431 $ 497 $ 211 $ 25,969 $ 40,518
Schedule of breakdown of provision for credit losses	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Provision for credit losses: Provision for loans $ 13,100 $ 8,126 $ 3,172 Provision for unfunded commitments 150 149 — Total $ 13,250 $ 8,275 $ 3,172
Schedule of loans by credit quality indicators	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, 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 $ 91,330 $ 80,445 $ 161,794 $ 131,071 $ 110,055 $ 158,437 $ — $ 110 $ 733,242 Special Mention — — — — — 940 — — 940 Total $ 91,330 $ 80,445 $ 161,794 $ 131,071 $ 110,055 $ 159,377 $ — $ 110 $ 734,182 Commercial business: Loan Rating Pass $ 9,425 $ 13,097 $ 14,663 $ 13,954 $ 8,843 $ 22,690 $ 22,206 $ 69 $ 104,947 Total $ 9,425 $ 13,097 $ 14,663 $ 13,954 $ 8,843 $ 22,690 $ 22,206 $ 69 $ 104,947 Construction - commercial real estate: Loan Rating Pass $ 47,294 $ 55,159 $ 24,320 $ — $ 5,944 $ — $ — $ — $ 132,717 Total $ 47,294 $ 55,159 $ 24,320 $ — $ 5,944 $ — $ — $ — $ 132,717 Land acquisition and development: Loan Rating Pass $ 33,129 $ 2,653 $ 366 $ 1,323 $ 8,601 $ — $ — $ — $ 46,072 Total $ 33,129 $ 2,653 $ 366 $ 1,323 $ 8,601 $ — $ — $ — $ 46,072 Builder lines: Loan Rating Pass $ 30,651 $ 3,120 $ 1,430 $ — $ — $ 404 $ — $ — $ 35,605 Total $ 30,651 $ 3,120 $ 1,430 $ — $ — $ 404 $ — $ — $ 35,605 Construction - consumer real estate: Loan Rating Pass $ 16,472 $ 2,327 $ — $ — $ — $ — $ — $ — $ 18,799 Total $ 16,472 $ 2,327 $ — $ — $ — $ — $ — $ — $ 18,799 Residential mortgage: Loan Rating Pass $ 47,653 $ 58,590 $ 80,991 $ 38,833 $ 34,979 $ 45,831 $ — $ — $ 306,877 Special Mention — 890 — 223 103 211 — — 1,427 Substandard — — — — — 172 — — 172 Substandard Nonaccrual 125 — 92 — — 116 — — 333 Total $ 47,778 $ 59,480 $ 81,083 $ 39,056 $ 35,082 $ 46,330 $ — $ — $ 308,809 Equity lines: Loan Rating Pass $ — $ — $ — $ — $ 60 $ 628 $ 61,077 $ 277 $ 62,042 Special Mention — — — — — — — 76 76 Substandard — — — — — — — 86 86 Total $ — $ — $ — $ — $ 60 $ 628 $ 61,077 $ 439 $ 62,204 Other consumer: Loan Rating Pass $ 5,274 $ 2,384 $ 1,547 $ 257 $ 132 $ 630 $ 46 $ — $ 10,270 Total $ 5,274 $ 2,384 $ 1,547 $ 257 $ 132 $ 630 $ 46 $ — $ 10,270 Total: Loan Rating Pass $ 281,228 $ 217,775 $ 285,111 $ 185,438 $ 168,614 $ 228,620 $ 83,329 $ 456 $ 1,450,571 Special Mention — 890 — 223 103 1,151 — 76 2,443 Substandard — — — — — 172 — 86 258 Substandard Nonaccrual 125 — 92 — — 116 — — 333 Total $ 281,353 $ 218,665 $ 285,203 $ 185,661 $ 168,717 $ 230,059 $ 83,329 $ 618 $ 1,453,605 1 Commercial business and equity lines include $69,000 and $179,000 , respectively, of revolving loans converted to term during the year ended December 31, 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 December 31, 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 $ 22,161 $ 10,039 $ 7,971 $ 2,359 $ 426 $ 77 $ — $ — $ 43,033 Good 40,296 25,730 29,455 9,402 1,574 334 — — 106,791 Fairly good 41,881 34,058 37,486 16,935 3,213 1,602 — — 135,175 Fair 25,796 21,278 24,379 13,260 3,674 2,194 — — 90,581 Marginal 5,049 4,383 5,621 4,856 1,681 1,481 — — 23,071 Total $ 135,183 $ 95,488 $ 104,912 $ 46,812 $ 10,568 $ 5,688 $ — $ — $ 398,651 Consumer finance - marine and recreational vehicles: Credit rating 1 Very good $ 8,124 $ 6,283 $ 12,670 $ 8,003 $ 7,927 $ 3,754 $ — $ — $ 46,761 Good 4,515 6,426 6,832 1,326 1,178 625 — — 20,902 Fairly good — 200 183 35 27 34 — — 479 Total $ 12,639 $ 12,909 $ 19,685 $ 9,364 $ 9,132 $ 4,413 $ — $ — $ 68,142 Total: Credit rating 1 Very good $ 30,285 $ 16,322 $ 20,641 $ 10,362 $ 8,353 $ 3,831 $ — $ — $ 89,794 Good 44,811 32,156 36,287 10,728 2,752 959 — — 127,693 Fairly good 41,881 34,258 37,669 16,970 3,240 1,636 — — 135,654 Fair 25,796 21,278 24,379 13,260 3,674 2,194 — — 90,581 Marginal 5,049 4,383 5,621 4,856 1,681 1,481 — — 23,071 Total $ 147,822 $ 108,397 $ 124,597 $ 56,176 $ 19,700 $ 10,101 $ — $ — $ 466,793 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.
Schedule of current period gross charge-offs of loans by year of origination	The following table details the current period gross charge-offs of loans by year of origination for the year ended December 31, 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 Commercial business $ 63 $ — $ — $ — $ — $ — $ — $ — $ 63 Residential mortgage 13 — — — — — — — 13 Other consumer 1 278 19 5 — — 62 — — 364 Consumer finance - automobiles 843 3,323 7,080 3,705 670 691 — — 16,312 Consumer finance - marine and recreational vehicles — 56 240 58 43 14 — — 411 Total $ 1,197 $ 3,398 $ 7,325 $ 3,763 $ 713 $ 767 $ — $ — $ 17,163 1 Gross charge-offs of other consumer loans for the year ended December 31, 2024 included $256,000 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 year ended December 31, 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 Residential mortgage — — 4 — — — — — 4 Equity lines — — — — — 8 — — 8 Other consumer 1 308 28 — 3 2 3 — — 344 Consumer finance - automobiles 1,246 6,169 3,783 833 735 716 — — 13,482 Consumer finance - marine and recreational vehicles — 127 51 40 6 37 — — 261 Total $ 1,554 $ 6,340 $ 3,838 $ 876 $ 743 $ 764 $ — $ — $ 14,115 1 Gross charge-offs of other consumer loans for the year ended December 31, 2023 included $308,000 of demand deposit overdrafts that originated in 2023.

OREO (Tables)

OREO (Tables)	12 Months Ended
OREO (Tables)	Dec. 31, 2024
OREO
Changes in the balance for OREO	Year Ended December 31, (Dollars in thousands) 2024 2023 Balance at the beginning of year, gross $ — $ — Additions — — Transfers from bank premises 1,827 — Charge-offs — — Sales proceeds (416) — Gain on disposition 120 — Balance at the end of year, gross 1,531 — Less valuation allowance (215) — Balance at the end of year, net $ 1,316 $ —
Changes in the allowance for OREO	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Balance at the beginning of year $ — $ — $ — Provision for losses 215 — — Charge-offs, net — — — Balance at the end of year $ 215 $ — $ —

Corporate Premises and Equipm_2

Corporate Premises and Equipment (Tables)	12 Months Ended
Corporate Premises and Equipment (Tables)	Dec. 31, 2024
Corporate Premises and Equipment
Schedule of major classifications of corporate premises and equipment	December 31, (Dollars in thousands) 2024 2023 Land $ 8,838 $ 9,024 Buildings 48,543 49,732 Equipment, furniture and fixtures 24,209 23,557 81,590 82,313 Less accumulated depreciation (41,472) (40,399) $ 40,118 $ 41,914

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
Goodwill and Other Intangible Assets (Tables)	Dec. 31, 2024
Goodwill and Other Intangible Assets
Schedule of gross carrying amounts and accumulated amortization of other intangible assets	December 31, 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 $ (700) $ 1,711 $ (588) Other amortizable intangibles 1,405 (1,269) 1,405 (1,121) Total $ 3,116 $ (1,969) $ 3,116 $ (1,709)
Schedule of estimated remaining amortization expense of intangibles	(Dollars in thousands) 2025 $ 237 2026 101 2027 101 2028 101 2029 101 Thereafter 506 Total $ 1,147

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2024
Leases
Schedule of lease cost	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Operating lease cost $ 821 $ 872 $ 1,008 Finance lease cost: Amortization of right-of-use asset 452 314 314 Interest on lease liability 220 121 125 Short-term lease cost 89 99 139 Variable lease cost 121 63 97 Total lease cost $ 1,703 $ 1,469 $ 1,683
Schedule of balance sheet details and quantitative details	December 31, December 31, (Dollars in thousands) 2024 2023 Operating leases: Right of use assets $ 2,237 $ 2,836 Lease liabilities $ 2,260 $ 2,877 Weighted average remaining lease term (years) 8.5 8.0 Weighted average discount rate 3.0 % 2.7 % Finance leases: Right of use assets $ 7,316 $ 5,251 Lease liabilities $ 8,169 $ 5,921 Weighted average remaining lease term (years) 15.5 16.5 Weighted average discount rate 3.0 % 2.0 %
Schedule of cash flow information	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Operating leases: Operating cash flows $ 832 $ 905 $ 1,823 Finance leases: Operating cash flows 220 121 125 Financing cash flows 233 220 440 Total cash flows $ 1,285 $ 1,246 $ 2,388
Schedule of maturities of operating lease liabilities	December 31, 2024 (Dollars in thousands) Operating Leases Finance Leases 2025 $ 540 $ 512 2026 451 574 2027 220 586 2028 179 602 2029 159 618 Thereafter 1,029 7,360 Total 2,578 10,252 Imputed interest (318) (2,083) Lease liabilities $ 2,260 $ 8,169
Schedule of maturities of finance lease liabilities	December 31, 2024 (Dollars in thousands) Operating Leases Finance Leases 2025 $ 540 $ 512 2026 451 574 2027 220 586 2028 179 602 2029 159 618 Thereafter 1,029 7,360 Total 2,578 10,252 Imputed interest (318) (2,083) Lease liabilities $ 2,260 $ 8,169

Time Deposits (Tables)

Time Deposits (Tables)	12 Months Ended
Time Deposits (Tables)	Dec. 31, 2024
Time Deposits
Schedule of time deposits	December 31, (Dollars in thousands) 2024 2023 Certificates of deposit, over $250 $ 264,405 $ 226,423 Other time deposits 553,924 446,776 $ 818,329 $ 673,199
Schedule of remaining maturities on time deposits	(Dollars in thousands) December 31, 2024 2025 $ 705,715 2026 86,966 2027 20,910 2028 2,334 2029 1,857 Thereafter 547 $ 818,329

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
Borrowings (Tables)	Dec. 31, 2024
Borrowings
Schedule of selected information on short-term borrowings	December 31, (Dollars in thousands) 2024 2023 Balance outstanding at year end 1 $ 28,994 $ 58,223 Maximum balance at any month end during the year $ 58,842 $ 145,579 Average balance for the year $ 29,614 $ 96,882 Weighted average rate for the year 1.88 % 3.79 % Weighted average rate on borrowings at year end 1.64 % 3.00 % Estimated fair value at year end $ 28,993 $ 55,732 1 Consists of $28.99 million of repurchase transactions with customers, which generally mature the day following the day sold and are secured by investment securities at December 31, 2024. Consists of $30.71 million of repurchase transaction with customers, $27.50 million with the FHLB, and $18,000 of overnight fed funds borrowings with correspondent banks at December 31, 2023.
Schedule of selected information on FHLB advances	Next Conversion (Dollars in thousands) Interest Rate Maturity Date Option Date Fixed Rate Hybrid Advances $ 5,000 4.45 % 03/05/27 Convertible Advances $ 5,000 4.06 % 03/05/27 03/05/25 $ 10,000 4.13 % 06/07/27 03/07/25 $ 10,000 4.68 % 03/23/26 09/23/25 $ 10,000 4.55 % 09/21/26 03/23/26
Schedule of contractual maturities of long-term borrowings	(Dollars in thousands) Fixed Rate Floating Rate Total 2025 $ — $ — $ — 2026 20,000 — 20,000 2027 20,000 — 20,000 2028 — — — 2029 — — — Thereafter 20,000 — 20,000 $ 60,000 $ — $ 60,000

Equity, Other Comprehensive I_2

Equity, Other Comprehensive Income and Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Equity, Other Comprehensive Income 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 December 31, 2023 $ (25,002) $ (2,752) $ 1,067 $ (26,687) Other comprehensive income (loss) arising during the period 1,657 1,146 (238) 2,565 Related income tax effects (348) (240) 61 (527) 1,309 906 (177) 2,038 Reclassifications into net income — 62 (6) 56 Related income tax effects — (13) 2 (11) — 49 (4) 45 Other comprehensive income (loss), net of tax 1,309 955 (181) 2,083 Accumulated other comprehensive (loss) income at December 31, 2024 $ (23,693) $ (1,797) $ 886 $ (24,604) 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 12,883 508 (526) 12,865 Related income tax effects (2,705) (106) 135 (2,676) 10,178 402 (391) 10,189 Reclassifications into net income 5 104 (6) 103 Related income tax effects (1) (22) 2 (21) 4 82 (4) 82 Other comprehensive income (loss), net of tax 10,182 484 (395) 10,271 Accumulated other comprehensive (loss) income at December 31, 2023 $ (25,002) $ (2,752) $ 1,067 $ (26,687) Securities Defined Cash Available Benefit Flow (Dollars in thousands) For Sale Plan Hedges Total Accumulated other comprehensive income (loss) at December 31, 2021 $ 437 $ (2,055) $ (469) $ (2,087) Other comprehensive (loss) income arising during the period (45,090) (1,465) 2,607 (43,948) Related income tax effects 9,469 308 (671) 9,106 (35,621) (1,157) 1,936 (34,842) Reclassifications into net income — (30) (7) (37) Related income tax effects — 6 2 8 — (24) (5) (29) Other comprehensive (loss) income, net of tax (35,621) (1,181) 1,931 (34,871) Accumulated other comprehensive (loss) income at December 31, 2022 $ (35,184) $ (3,236) $ 1,462 $ (36,958)
Schedule of reclassifications from accumulated other comprehensive loss	Year Ended December 31, Line Item In the Consolidated (Dollars in thousands) 2024 2023 2022 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 (129) (171) (38) Noninterest expenses - Other Amortization of prior service credit into net income 67 67 68 Noninterest expenses - Other Related income tax effects 13 22 (6) Income tax expense (49) (82) 24 Net of tax Cash flow hedges: Amortization of hedging gains into net income 6 6 7 Interest expense - Trust preferred capital notes Related income tax effects (2) (2) (2) Income tax expense 4 4 5 Net of tax Total reclassifications into net income $ (45) $ (82) $ 29 1 See “Note 14: Employee Benefit Plans,” for additional information.
Schedule of components earnings per share calculations	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Net income attributable to C&F Financial Corporation $ 19,834 $ 23,604 $ 29,159 Weighted average shares outstanding — 3,299,574 3,411,995 3,517,114

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2024
Income Taxes
Schedule of principal components of income tax expense	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Current taxes $ 3,741 $ 4,832 $ 6,887 Deferred taxes 474 586 708 $ 4,215 $ 5,418 $ 7,595
Schedule of reconciliation of effective income tax rate to income tax provision	Year Ended December 31, 2024 2023 2022 (Dollars in thousands) Amount Percent Amount Percent Amount Percent Income tax at statutory rates $ 5,068 21.0 % $ 6,124 21.0 % $ 7,762 21.0 % State income taxes, net of federal benefit 15 0.1 82 0.3 536 1.5 Tax-exempt interest income (626) (2.6) (582) (2.0) (427) (1.1) Excess compensation 79 0.3 38 0.1 — — Income from bank-owned life insurance (178) (0.7) (104) (0.4) (130) (0.4) Investments in qualified housing projects (87) (0.4) (75) (0.3) (56) (0.2) Share based compensation (111) (0.5) (114) (0.4) (37) (0.1) Other 55 0.2 49 0.2 (53) (0.1) $ 4,215 17.4 % $ 5,418 18.5 % $ 7,595 20.6 %
Schedule of deferred tax assets and liabilities	December 31, (Dollars in thousands) 2024 2023 Deferred tax assets Allowances for credit losses, reserve for unfunded commitments and OREO losses $ 10,238 $ 10,123 Net unrealized loss on securities available for sale 6,298 6,646 Nonqualified deferred compensation plan 3,781 3,969 Lease liabilities 2,216 1,877 Fair value adjustments related to business combinations 251 377 Share-based compensation 736 857 Reserve for indemnification losses 313 433 Accrued expenses 521 562 Other 783 778 Deferred tax assets 25,137 25,622 Deferred tax liabilities Goodwill and other intangible assets (2,992) (3,027) Right of use assets (2,034) (1,728) Depreciation (1,213) (1,175) Defined benefit plan (862) (583) Cash flow hedges (317) (378) Deferred tax liabilities (7,418) (6,891) Net deferred tax assets $ 17,719 $ 18,731

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
Employee Benefit Plans (Tables)	Dec. 31, 2024
Employee Benefit Plans
Schedule of Changes in Projected Benefit Obligations, Fair Value, and Funded Status	December 31, (Dollars in thousands) 2024 2023 Change in benefit obligation Projected benefit obligation, beginning $ 16,812 $ 15,267 Service cost 1,414 1,377 Interest cost 757 728 Actuarial (gain) loss (802) 527 Benefits paid (1,128) (1,087) Projected benefit obligation, ending 17,053 16,812 Change in plan assets Fair value of plan assets, beginning 19,588 18,356 Actual return on plan assets 1,697 2,319 Employer contributions 1,000 — Benefits paid (1,128) (1,087) Fair value of plan assets, ending 21,157 19,588 Funded status $ 4,104 $ 2,776 Amounts recognized as an other asset $ 4,104 $ 2,776 Amounts recognized in accumulated other comprehensive loss Net loss $ 2,443 $ 3,718 Prior service credits (168) (235) Deferred taxes (478) (731) Total recognized in accumulated other comprehensive loss $ 1,797 $ 2,752 Weighted-average assumptions for benefit obligation at valuation date Discount rate 5.4 % 4.7 % Rate of compensation increase 3.0 3.0 Interest crediting rate 5.0 5.0
Schedule of net periodic benefit costs	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Components of net periodic benefit cost: Service cost, included in salaries and employee benefits $ 1,414 $ 1,377 $ 1,837 Other components of net periodic benefit cost: Interest cost 757 728 492 Expected return on plan assets (1,351) (1,284) (1,660) Amortization of prior service credit (67) (67) (68) Recognized net actuarial losses 129 171 38 Other components of net periodic benefit cost, included in other noninterest expense (532) (452) (1,198) Net periodic benefit cost $ 882 $ 925 $ 639
Schedule of weighted-average assumptions used for net periodic benefit cost	January 1, 2024 2023 2022 Weighted-average assumptions for net periodic benefit cost Discount rate 4.7 % 4.9 % 2.5 % Expected return on plan assets 7.3 7.3 7.3 Rate of compensation increase 3.0 3.0 3.0 Interest crediting rate 5.0 5.0 5.0
Schedule of benefits expected to be paid by the plan in the next ten years	(Dollars in thousands) 2025 $ 1,495 2026 1,009 2027 938 2028 1,766 2029 1,818 2030 – 2034 12,589
Schedule of defined benefit pension plan weighted average asset allocations by asset category	December 31, 2024 2023 Mutual funds-fixed income 37 % 40 % Mutual funds-equity 63 60 Cash and equivalents * * 100 % 100 % * Less than one percent.
Summary of fair value of defined benefit plan assets	December 31, 2024 Fair Value Measurements Using Assets at Fair (Dollars in thousands) Level 1 Level 2 Level 3 Value Mutual funds-fixed income 1 $ 7,828 $ — $ — $ 7,828 Mutual funds-equity 2 13,329 — — 13,329 Cash and equivalents 3 — — — — Total pension plan assets $ 21,157 $ — $ — $ 21,157 December 31, 2023 Fair Value Measurements Using Assets at Fair (Dollars in thousands) Level 1 Level 2 Level 3 Value Mutual funds-fixed income 1 $ 7,835 $ — $ — $ 7,835 Mutual funds-equity 2 11,753 — — 11,753 Cash and equivalents 3 — — — — Total pension plan assets $ 19,588 $ — $ — $ 19,588 1 This category includes investments in mutual funds focused on fixed income securities with both short-term and long-term investments. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the funds. 2 This category includes investments in mutual funds focused on equity securities with a diversified portfolio and includes investments in large cap and small cap funds, growth funds, international focused funds and value funds. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the funds. 3 This category comprises cash and short-term cash equivalent funds. The funds are valued at cost which approximates fair value.

Share-Based Plans (Tables)

Share-Based Plans (Tables)	12 Months Ended
Share-Based Plans (Tables)	Dec. 31, 2024
Share-Based Plans
Summary of activity for restricted stock awards	2024 2023 2022 Weighted- Weighted- Weighted- Average Average Average Grant Date Grant Date Grant Date Shares Fair Value Shares Fair Value Shares Fair Value Nonvested at beginning of year 135,694 $ 52.13 145,677 $ 48.88 140,577 $ 48.57 Granted 32,320 60.15 36,945 62.87 36,435 54.18 Vested (46,801) 51.39 (43,383) 50.59 (26,200) 54.73 Cancelled (1,435) 53.69 (3,545) 49.37 (5,135) 48.28 Nonvested at end of year 119,778 54.56 135,694 52.13 145,677 48.88

Regulatory Requirements and R_2

Regulatory Requirements and Restrictions (Tables)	12 Months Ended
Regulatory Requirements and Restrictions (Tables)	Dec. 31, 2024
Regulatory Requirements and Restrictions
Schedule of actual capital amounts and ratios	December 31, 2024 Minimum Capital Well Capitalized Actual Requirements Requirements (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio The Corporation Total risk-based capital ratio $ 299,157 14.1 % $ 170,256 8.0 % $ N/A N/A % Tier 1 risk-based capital ratio 252,373 11.9 127,692 6.0 N/A N/A Common Equity Tier 1 capital ratio 227,373 10.7 95,769 4.5 N/A N/A Tier 1 leverage ratio 252,373 9.8 102,645 4.0 N/A N/A The Bank Total risk-based capital ratio $ 284,550 13.5 % $ 168,233 8.0 % $ 210,291 10.0 % Tier 1 risk-based capital ratio 258,078 12.3 126,175 6.0 168,233 8.0 Common Equity Tier 1 capital ratio 258,078 12.3 94,631 4.5 136,689 6.5 Tier 1 leverage ratio 258,078 10.1 101,805 4.0 127,256 5.0 December 31, 2023 Minimum Capital Well Capitalized Actual Requirements Requirements (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio The Corporation Total risk-based capital ratio $ 289,396 14.8 % $ 155,927 8.0 % $ N/A N/A % Tier 1 risk-based capital ratio 244,830 12.6 116,945 6.0 N/A N/A Common Equity Tier 1 capital ratio 219,830 11.3 87,709 4.5 N/A N/A Tier 1 leverage ratio 244,830 10.1 97,449 4.0 N/A N/A The Bank Total risk-based capital ratio $ 271,952 14.1 % $ 153,816 8.0 % $ 192,270 10.0 % Tier 1 risk-based capital ratio 247,712 12.9 115,362 6.0 153,816 8.0 Common Equity Tier 1 capital ratio 247,712 12.9 86,522 4.5 124,976 6.5 Tier 1 leverage ratio 247,712 10.3 96,655 4.0 120,819 5.0

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	12 Months Ended
Commitments and Contingent Liabilities (Tables)	Dec. 31, 2024
Commitments and Contingent Liabilities
Schedule of corporation's reserve for unfunded commitments	Year Ended December 31, (Dollars in thousands) 2024 2023 Balance at the beginning of year $ 1,650 $ — Impact of ASC 326 adoption — 1,501 Provision charged to operations 150 149 Balance at the end of year $ 1,800 $ 1,650
Schedule of allowance for indemnifications losses	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Allowance, beginning of period $ 1,809 $ 2,394 $ 3,252 Net reversal of provision for indemnification losses (460) (585) (858) Payments — — — Allowance, end of period $ 1,349 $ 1,809 $ 2,394

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
Fair Value of Assets and Liabilities (Tables)	Dec. 31, 2024
Fair Value of Assets and Liabilities
Schedule of balances of financial assets and liabilities measured at fair value on a recurring basis	December 31, 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 $ — $ 10,700 $ — $ 10,700 U.S. government agencies and corporations — 60,659 — 60,659 Mortgage-backed securities — 182,436 — 182,436 Obligations of states and political subdivisions — 143,610 — 143,610 Corporate and other debt securities — 21,220 — 21,220 Total securities available for sale — 418,625 — 418,625 Loans held for sale — 20,112 — 20,112 Other investments — 4,167 — 4,167 Derivatives IRLC — 585 — 585 Interest rate swaps on loans — 4,636 — 4,636 Cash flow hedges — 1,169 — 1,169 Total assets $ — $ 449,294 $ — $ 449,294 Liabilities: Derivatives Interest rate swaps on loans $ — $ 4,636 $ — $ 4,636 Total liabilities $ — $ 4,636 $ — $ 4,636 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 assets measured at fair value on a nonrecurring basis	December 31, 2024 Fair Value Measurements Classified as Assets at Fair (Dollars in thousands) Level 1 Level 2 Level 3 Value Other real estate owned, net $ — $ — $ 1,316 $ 1,316 Total $ — $ — $ 1,316 $ 1,316
Schedule of carrying amounts and estimated fair values of financial instruments	Carrying Fair Value Measurements at December 31, 2024 Classified as Total Fair (Dollars in thousands) Value Level 1 Level 2 Level 3 Value Financial assets: Cash and short-term investments $ 66,853 $ 65,586 $ 1,265 $ — $ 66,851 Securities available for sale 418,625 — 418,625 — 418,625 Loans, net 1,880,311 — — 1,838,887 1,838,887 Loans held for sale 20,112 — 20,112 — 20,112 Other investments 4,167 — 4,167 — 4,167 Derivatives IRLC 585 — 585 — 585 Interest rate swaps on loans 4,636 — 4,636 — 4,636 Cash flow hedges 1,169 — 1,169 — 1,169 Bank-owned life insurance 21,191 — 21,191 — 21,191 Accrued interest receivable 10,592 10,592 — — 10,592 Financial liabilities: Demand and savings deposits 1,352,531 1,352,531 — — 1,352,531 Time deposits 818,329 — 819,276 — 819,276 Borrowings 114,440 — 105,533 — 105,533 Derivatives Interest rate swaps on loans 4,636 — 4,636 — 4,636 Accrued interest payable 4,403 4,403 — — 4,403 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)	12 Months Ended
Business Segments (Tables)	Dec. 31, 2024
Business Segments
Schedule of segment reporting information, by segment	Year Ended December 31, 2024 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 87,600 $ 1,897 $ 49,684 $ — $ 413 $ 139,594 Interest expense 40,498 — — 2,321 — 42,819 Net interest income before allocation 47,102 1,897 49,684 (2,321) 413 96,775 Net interest allocation 1 24,456 (796) (23,660) — — — Net interest income 71,558 1,101 26,024 (2,321) 413 96,775 Gain on sales of loans — 6,421 — — (357) 6,064 Other noninterest income 17,723 4,602 1,024 1,363 (238) 24,474 Net revenue 89,281 12,124 27,048 (958) (182) 127,313 Less: Provision for credit losses 1,650 — 11,600 — — 13,250 Salaries and employee benefits 36,252 7,069 8,026 2,231 — 53,578 Occupancy expense 6,887 890 620 — — 8,397 Data processing 8,927 1,012 1,328 47 — 11,314 Professional fees 2,834 103 312 362 — 3,611 Insurance expense 1,575 111 146 — — 1,832 Marketing and advertising expenses 748 426 39 — — 1,213 Loan processing and collection expenses 256 917 1,488 — — 2,661 Provision for indemnifications — (460) — — — (460) Other segment items 2 5,395 528 1,577 350 (66) 7,784 Total noninterest expense 62,874 10,596 13,536 2,990 (66) 89,930 Income (loss) before taxes 24,757 1,528 1,912 (3,948) (116) 24,133 Income tax expense (benefit) 4,473 420 498 (1,152) (24) 4,215 Net income (loss) $ 20,284 $ 1,108 $ 1,414 $ (2,796) $ (92) $ 19,918 Other data: Total assets $ 2,449,641 $ 29,837 $ 472,672 $ 31,823 $ (420,599) $ 2,563,374 Total loans held for investment, net 1,436,226 — 444,085 — — 1,880,311 Total deposits 2,186,139 — — — (15,279) 2,170,860 Capital expenditures 3,101 210 175 — — 3,486 Depreciation and amortization 3,433 86 338 — — 3,857 1 Interest expense is allocated to the mortgage banking and consumer finance segments through borrowings from the community banking segment. 2 Other segment items for each reportable segment include: a. Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses and expense, net periodic pension cost, office supplies, and certain overhead expenses. b. Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses. c. Consumer finance – licenses and taxes other expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses. Year Ended December 31, 2023 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 74,949 $ 1,695 $ 47,264 $ — $ 229 $ 124,137 Interest expense 24,184 — — 2,246 — 26,430 Net interest income before allocation 50,765 1,695 47,264 (2,246) 229 97,707 Net interest allocation 1 23,438 (612) (22,826) — — — Net interest income 74,203 1,083 24,438 (2,246) 229 97,707 Gain on sales of loans — 5,845 — — (65) 5,780 Other noninterest income 16,465 4,353 962 2,257 (202) 23,835 Net revenue 90,668 11,281 25,400 11 (38) 127,322 Less: Provision for credit losses 1,625 — 6,650 — — 8,275 Salaries and employee benefits 36,004 6,996 8,732 3,144 — 54,876 Occupancy expense 6,354 1,005 634 — — 7,993 Data processing 8,564 1,008 1,280 22 — 10,874 Professional fees 2,149 101 310 192 — 2,752 Insurance expense 1,396 128 135 — — 1,659 Marketing and advertising expenses 1,075 428 45 — — 1,548 Loan processing and collection expenses 248 1,047 2,022 — — 3,317 Provision for indemnifications — (585) — — — (585) Other segment items 2 5,023 560 1,658 267 (59) 7,449 Total noninterest expense 60,813 10,688 14,816 3,625 (59) 89,883 Income (loss) before taxes 28,230 593 3,934 (3,614) 21 29,164 Income tax expense (benefit) 5,302 128 1,055 (1,066) (1) 5,418 Net income (loss) $ 22,928 $ 465 $ 2,879 $ (2,548) $ 22 $ 23,746 Other data: Total assets $ 2,319,810 $ 22,177 $ 476,671 $ 35,581 $ (415,741) $ 2,438,498 Total loans held for investment, net 1,257,557 — 444,931 — — 1,702,488 Total deposits 2,084,327 — — — (18,197) 2,066,130 Capital expenditures 1,301 12 146 — — 1,459 Depreciation and amortization 3,402 79 398 — — 3,879 1 Interest expense is allocated to the mortgage banking and consumer finance segments through borrowings from the community banking segment. 2 Other segment items for each reportable segment include: a. Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses expense, net periodic pension cost, office supplies, and certain overhead expenses. b. Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses. c. Consumer finance – licenses and other taxes expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses. Year Ended December 31, 2022 Community Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Interest income $ 56,782 $ 2,036 $ 42,441 $ — $ 95 $ 101,354 Interest expense 5,532 — — 2,358 — 7,890 Net interest income before allocation 51,250 2,036 42,441 (2,358) 95 93,464 Net interest allocation 1 15,786 (662) (15,124) — — — Net interest income 67,036 1,374 27,317 (2,358) 95 93,464 Gain on sales of loans — 7,963 — — (465) 7,498 Other noninterest income 19,250 4,856 1,050 (3,230) (212) 21,714 Net revenue 86,286 14,193 28,367 (5,588) (582) 122,676 Less: Provision for credit losses (600) 32 3,740 — — 3,172 Salaries and employee benefits 33,770 7,599 8,939 (2,441) — 47,867 Occupancy expense 6,633 1,271 660 — — 8,564 Data processing 7,889 1,137 1,458 30 — 10,514 Professional fees 2,121 180 267 199 — 2,767 Insurance expense 858 61 130 — — 1,049 Marketing and advertising expenses 1,185 518 102 — — 1,805 Loan processing and collection expenses 199 1,683 2,096 — — 3,978 Provision for indemnifications — (858) — — — (858) Other segment items 2 4,063 989 1,632 230 (60) 6,854 Total noninterest expense 56,718 12,580 15,284 (1,982) (60) 82,540 Income (loss) before taxes 30,168 1,581 9,343 (3,606) (522) 36,964 Income tax expense (benefit) 5,794 371 2,512 (973) (109) 7,595 Net income (loss) $ 24,374 $ 1,210 $ 6,831 $ (2,633) $ (413) $ 29,369 Other data: Total assets $ 2,206,299 $ 24,500 $ 479,864 $ 43,241 $ (421,587) $ 2,332,317 Total loans held for investment, net 1,145,940 671 448,589 — — 1,595,200 Total deposits 2,029,951 — — — (26,091) 2,003,860 Capital expenditures 3,265 66 17 — — 3,348 Depreciation and amortization 3,720 226 410 — — 4,356 1 Interest expense is allocated to the mortgage banking and consumer finance segments through borrowings from the community banking segment. 2 Other segment items for each reportable segment include: a. Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses and expense, net periodic pension cost, office supplies, and certain overhead expenses. b. Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses. c. Consumer finance – licenses and taxes other expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
Derivative Financial Instruments (Tables)	Dec. 31, 2024
Derivative Financial Instruments
Schedule of key elements of derivative instruments other than forward sales of mortgage loans	December 31, 2024 Notional (Dollars in thousands) Amount Assets Liabilities Cash flow hedges: Interest rate swap contracts $ 25,000 $ 1,169 $ — Not designated as hedges: Customer-related interest rate swap contracts: Matched interest rate swaps with borrower 77,820 — 4,636 Matched interest rate swaps with counterparty 77,820 4,636 — Mortgage banking contracts: IRLCs 39,291 585 — 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 —

Holding Company Condensed Fin_2

Holding Company Condensed Financial Information (Tables) - C&F Financial Corporation	12 Months Ended
	Dec. 31, 2024
Condensed Balance Sheet	December 31, (Dollars in thousands) 2024 2023 Condensed Balance Sheets Assets Cash $ 10,513 $ 13,467 Other assets 21,901 22,210 Investment in C&F Bank 255,803 243,409 Total assets $ 288,217 $ 279,086 Liabilities and equity Trust preferred capital notes $ 25,457 $ 25,422 Long-term borrowings 19,989 19,973 Other liabilities 16,411 16,813 Equity 226,360 216,878 Total liabilities and equity $ 288,217 $ 279,086
Condensed Statements of Income and Comprehensive Income (Loss)	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Condensed Statements of Income and Comprehensive Income (Loss) Interest expense on borrowings $ (2,321) $ (2,246) $ (2,358) Dividends received from C&F Bank 12,500 10,600 12,500 Equity in undistributed net income of C&F Bank 10,130 15,552 19,292 Other income 1,363 2,257 (3,230) Other expenses (1,838) (2,559) 2,955 Net income 19,834 23,604 29,159 Other comprehensive income (loss), net of tax 2,083 10,271 (34,871) Comprehensive income (loss) $ 21,917 $ 33,875 $ (5,712)
Condensed Statements of Cash Flows	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Condensed Statements of Cash Flows Operating activities: Net cash provided by operating activities $ 11,404 $ 8,926 $ 9,750 Investing activities: Swap collateral, net — — 2,705 Net cash provided by investing activities — — 2,705 Financing activities: Repayment of borrowings — (4,000) — Common stock repurchases (8,761) (7,758) (5,373) Cash dividends (5,780) (5,986) (5,756) Other financing activities, net 183 191 184 Net cash used in financing activities (14,358) (17,553) (10,945) Net (decrease) increase in cash and cash equivalents (2,954) (8,627) 1,510 Cash at beginning of year 13,467 22,094 20,584 Cash at end of year $ 10,513 $ 13,467 $ 22,094

Other Noninterest Expenses (Tab

Other Noninterest Expenses (Tables)	12 Months Ended
Other Noninterest Expenses (Tables)	Dec. 31, 2024
Other Noninterest Expenses.
Schedule of other noninterest expense	Year Ended December 31, (Dollars in thousands) 2024 2023 2022 Telecommunication expenses $ 1,529 $ 1,330 $ 1,368 Postage and courier expenses 1,049 994 881 Licenses and taxes expense 1,004 918 975 Travel and educational expenses 994 1,272 1,393 Other real estate owned losses and expenses, net 218 — 2 Other components of net periodic pension cost (532) (452) (1,198) Provision for indemnifications (460) (585) (858) All other noninterest expenses 3,522 3,387 3,433 Total other noninterest expenses $ 7,324 $ 6,864 $ 5,996

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Nature of Operations and Significant Group Concentration of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2024 subsidiary
Category of loan concentration risk \| Loan Portfolio Concentration Risk [Member] \| Commercial, Financial & Agricultural
Concentration risk
Concentration risk, percentage	55%
Category of loan concentration risk \| Loan Portfolio Concentration Risk [Member] \| Non-prime consumer finance loans
Concentration risk
Concentration risk, percentage	25%
C&F Bank
Concentration risk
Number of wholly owned subsidiaries	5
C&F Mortgage \| C&F Select LLC
Concentration risk
Interest owned (as a percent)	51%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Loans Held for Investment and Allowance for Credit Losses on Loans (Details)	12 Months Ended
	Dec. 31, 2024 USD ($)
Summary of Significant Accounting Policies
Allowance for credit losses for non-PCD loans	$ 0
Allowance for credit loss written-off	$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Repossessed Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Delinquent threshold for repossession process to initiate	60 days
Other assets
Repossessed vehicles	$ 779	$ 646

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Corporate Premises and Equipment (Details)	Dec. 31, 2024
Buildings \| Minimum
Premises and equipment
Property, Plant and Equipment, Useful Life	10 years
Buildings \| Maximum
Premises and equipment
Property, Plant and Equipment, Useful Life	40 years
Equipment, furniture and fixtures \| Minimum
Premises and equipment
Property, Plant and Equipment, Useful Life	3 years
Equipment, furniture and fixtures \| Maximum
Premises and equipment
Property, Plant and Equipment, Useful Life	10 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Income taxes and derivative financial instruments (Details)	Dec. 31, 2024
Summary of Significant Accounting Policies
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets.
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities

Adoption of New Accounting St_3

Adoption of New Accounting Standards (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Adoption of New Accounting Standards
Retained earnings	$ (247,814,000)	$ (233,760,000)
Loans, gross	1,920,398,000	1,742,139,000	$ 1,635,718,000
Allowance for credit losses	40,087,000	39,651,000	40,518,000	$ 40,157,000
Loans, net	1,880,311,000	1,702,488,000	1,595,200,000
Net deferred tax asset	17,719,000	18,731,000	22,014,000
Reserve for credit losses on unfunded commitments	1,800,000	1,650,000
Total equity	226,970,000	217,516,000	196,233,000	211,024,000
Commercial
Adoption of New Accounting Standards
Allowance for credit losses	13,347,000	12,315,000	11,219,000
Consumer
Adoption of New Accounting Standards
Allowance for credit losses	4,032,000	3,758,000	3,330,000
Consumer finance
Adoption of New Accounting Standards
Loans, gross	466,793,000	468,510,000
Allowance for credit losses	$ 22,708,000	23,578,000	25,969,000	$ 24,791,000
Impact of ASC 326
Adoption of New Accounting Standards
Reserve for credit losses on unfunded commitments		$ 1,501,000
Total equity			(1,072,000)
Accounting Standards Update 2016-13 \| Impact of ASC 326
Adoption of New Accounting Standards
Retained earnings			1,100,000
Loans, gross			604,000
Allowance for credit losses			491,000
Loans, net			113,000
Net deferred tax asset			316,000
Reserve for credit losses on unfunded commitments			1,501,000
Total equity			(1,072,000)
Accounting Standards Update 2016-13 \| Impact of ASC 326 \| Commercial
Adoption of New Accounting Standards
Allowance for credit losses			(22,000)
Accounting Standards Update 2016-13 \| Impact of ASC 326 \| Consumer
Adoption of New Accounting Standards
Allowance for credit losses			107,000
Accounting Standards Update 2016-13 \| Impact of ASC 326 \| Consumer finance
Adoption of New Accounting Standards
Allowance for credit losses			406,000
Accounting Standards Update 2016-13 \| As Reported under ASC 326
Adoption of New Accounting Standards
Loans, gross			1,636,322,000
Allowance for credit losses			41,009,000
Loans, net			1,595,313,000
Net deferred tax asset			22,330,000
Reserve for credit losses on unfunded commitments			1,501,000
Total equity			195,161,000
Accounting Standards Update 2016-13 \| As Reported under ASC 326 \| Commercial
Adoption of New Accounting Standards
Allowance for credit losses			11,197,000
Accounting Standards Update 2016-13 \| As Reported under ASC 326 \| Consumer
Adoption of New Accounting Standards
Allowance for credit losses			3,437,000
Accounting Standards Update 2016-13 \| As Reported under ASC 326 \| Consumer finance
Adoption of New Accounting Standards
Allowance for credit losses			$ 26,375,000

Securities - Available for sale

Securities - Available for sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Exclude accrued interest receivable from the amortized cost basis of securities	$ 2,320	$ 2,730
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Fair Value	Fair Value
Amortized Cost	$ 448,616	$ 494,092
Gross Unrealized Gains	789	2,465
Gross Unrealized Losses	(30,780)	(34,113)
Fair Value	418,625	462,444
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,985	45,883
Gross Unrealized Losses	(285)	(780)
Fair Value	10,700	45,103
U.S. government agencies and corporations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	68,772	96,407
Gross Unrealized Losses	(8,113)	(9,313)
Fair Value	60,659	87,094
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	197,923	177,734
Gross Unrealized Gains	69	185
Gross Unrealized Losses	(15,556)	(16,223)
Fair Value	182,436	161,696
Obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	147,532	148,875
Gross Unrealized Gains	691	2,280
Gross Unrealized Losses	(4,613)	(4,044)
Fair Value	143,610	147,111
Corporate and other debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	23,404	25,193
Gross Unrealized Gains	29
Gross Unrealized Losses	(2,213)	(3,753)
Fair Value	$ 21,220	$ 21,440

Securities - Maturities and Rea

Securities - Maturities and Realized Gains and Losses (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Amortized Cost
Due in one year or less	$ 69,210
Due after one year through five years	184,479
Due after five years through ten years	137,716
Due after ten years	57,211
Amortized Cost	448,616	$ 494,092
Fair Value
Due in one year or less	66,454
Due after one year through five years	170,833
Due after five years through ten years	127,666
Due after ten years	53,672
Fair Value	$ 418,625	$ 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	$ 100,601	$ 100,812	$ 55,328

Securities - Pledged as Collate

Securities - Pledged as Collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Available for sale securities
Amortized Cost	$ 448,616	$ 494,092
Fair Value	418,625	462,444
Securities Pledged as Collateral
Available for sale securities
Amortized Cost	212,920	215,970
Fair Value	$ 196,100	$ 198,850

Securities - Unrealized Loss Po

Securities - Unrealized Loss Positions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($)
Fair value
Less Than 12 Months, Fair Value	$ 86,189	$ 13,573
12 Months or More, Fair Value	281,126	365,904
Total Fair Value	367,315	379,477
Unrealized Loss
Less Than 12 Months, Unrealized Loss	1,691	504
12 Months or More, Unrealized Loss	29,089	33,609
Total Unrealized Loss	$ 30,780	34,113
Other information
Number of positions \| security	570
Aggregate fair value	$ 367,315	379,477
Other than temporary impairment	0
U.S. Treasury securities
Fair value
12 Months or More, Fair Value	10,700	45,103
Total Fair Value	10,700	45,103
Unrealized Loss
12 Months or More, Unrealized Loss	285	780
Total Unrealized Loss	285	780
Other information
Aggregate fair value	10,700	45,103
U.S. government agencies and corporations
Fair value
12 Months or More, Fair Value	60,659	87,094
Total Fair Value	60,659	87,094
Unrealized Loss
12 Months or More, Unrealized Loss	8,113	9,313
Total Unrealized Loss	8,113	9,313
Other information
Aggregate fair value	60,659	87,094
Mortgage-backed securities
Fair value
Less Than 12 Months, Fair Value	53,734	5,528
12 Months or More, Fair Value	123,307	150,023
Total Fair Value	177,041	155,551
Unrealized Loss
Less Than 12 Months, Unrealized Loss	1,253	68
12 Months or More, Unrealized Loss	14,303	16,155
Total Unrealized Loss	15,556	16,223
Other information
Aggregate fair value	177,041	155,551
Obligations of states and political subdivisions
Fair value
Less Than 12 Months, Fair Value	31,981	4,659
12 Months or More, Fair Value	66,743	65,630
Total Fair Value	98,724	70,289
Unrealized Loss
Less Than 12 Months, Unrealized Loss	412	72
12 Months or More, Unrealized Loss	4,201	3,972
Total Unrealized Loss	4,613	4,044
Other information
Aggregate fair value	98,724	70,289
Corporate and other debt securities
Fair value
Less Than 12 Months, Fair Value	474	3,386
12 Months or More, Fair Value	19,717	18,054
Total Fair Value	20,191	21,440
Unrealized Loss
Less Than 12 Months, Unrealized Loss	26	364
12 Months or More, Unrealized Loss	2,187	3,389
Total Unrealized Loss	2,213	3,753
Other information
Aggregate fair value	$ 20,191	$ 21,440

Securities - Restricted Stocks

Securities - Restricted Stocks and others (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Securities
Investment in restricted stock	$ 3,590
Restricted stocks, other-than-temporary impairment	$ 0

Loans - Classes of Loans (Detai

Loans - Classes of Loans (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Exclude accrued interest receivable from the amortized cost basis of loans	$ 8,270,000	$ 7,650,000
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Loans Receivable Held-for-sale, Net, Not Part of Disposal Group	Loans Receivable Held-for-sale, Net, Not Part of Disposal Group
Subtotal	$ 1,920,398,000	$ 1,742,139,000	$ 1,635,718,000
Less allowance for credit losses	(40,087,000)	(39,651,000)	(40,518,000)	$ (40,157,000)
Loans, net	1,880,311,000	1,702,488,000	1,595,200,000
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	734,182,000	668,122,000
Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	104,947,000	115,348,000
Construction - commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	132,717,000	69,768,000
Land acquisition and development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	46,072,000	29,064,000
Builder lines
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	35,605,000	24,668,000
Construction - consumer real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	18,799,000	11,223,000
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	308,809,000	293,256,000
Less allowance for credit losses			(2,622,000)	(2,660,000)
Equity lines
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	62,204,000	51,592,000
Less allowance for credit losses			(497,000)	(593,000)
Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	10,270,000	10,588,000
Amount included related to demand deposit overdrafts	255,000	228,000
Consumer finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	466,793,000	468,510,000
Less allowance for credit losses	(22,708,000)	(23,578,000)	$ (25,969,000)	$ (24,791,000)
Consumer finance \| Automobiles
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	398,651,000	401,276,000
Consumer finance \| Marine and recreational vehicles
Accounts, Notes, Loans and Financing Receivable [Line Items]
Subtotal	$ 68,142,000	$ 67,234,000

Loans - Loan Portfolio by Class

Loans - Loan Portfolio by Class (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	$ 1,920,398,000	$ 1,742,139,000	$ 1,635,718,000
90+ Days Past Due and Accruing	410,000	128,000
Loans on nonaccrual status	947,000	1,298,000
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	16,826,000	17,498,000
Loans on nonaccrual status	117,000
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	3,748,000	3,233,000
Loans on nonaccrual status		22,000
90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	1,116,000	1,290,000
Loans on nonaccrual status	706,000	1,160,000
Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	21,690,000	22,021,000
Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	1,898,708,000	1,720,118,000
Loans on nonaccrual status	124,000	113,000
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	734,182,000	668,122,000
Commercial real estate \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	26,000	92,000
Commercial real estate \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	26,000	92,000
Commercial real estate \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	734,156,000	668,030,000
Commercial business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	104,947,000	115,348,000
90+ Days Past Due and Accruing		1,000
Commercial business \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	29,000
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	29,000	1,000
Commercial business \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	104,918,000	115,347,000
Construction - commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	132,717,000	69,768,000
Construction - commercial real estate \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	132,717,000	69,768,000
Land acquisition and development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	46,072,000	29,064,000
Land acquisition and development \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	46,072,000	29,064,000
Builder lines
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	35,605,000	24,668,000
Builder lines \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	35,605,000	24,668,000
Construction - consumer real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	18,799,000	11,223,000
Construction - consumer real estate \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	747,000
Construction - consumer real estate \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	747,000
Construction - consumer real estate \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	18,052,000	11,223,000
Residential mortgage
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	308,809,000	293,256,000
90+ Days Past Due and Accruing	334,000	89,000
Loans on nonaccrual status	333,000	320,000
Residential mortgage \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	1,012,000	1,643,000
Residential mortgage \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	1,076,000	387,000
Residential mortgage \| 90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	426,000	273,000
Residential mortgage \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	2,514,000	2,303,000
Residential mortgage \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	306,295,000	290,953,000
Equity lines
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	62,204,000	51,592,000
90+ Days Past Due and Accruing	76,000	38,000
Loans on nonaccrual status		77,000
Equity lines \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	85,000	215,000
Equity lines \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross		103,000
Equity lines \| 90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	76,000	115,000
Equity lines \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	161,000	433,000
Equity lines \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	62,043,000	51,159,000
Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	10,270,000	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	9,000	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	9,000	12,000
Other consumer \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	10,261,000	10,576,000
Consumer finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	466,793,000	468,510,000
Consumer finance \| Automobiles
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	398,651,000	401,276,000
Loans on nonaccrual status	599,000	892,000
Consumer finance \| Automobiles \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	14,703,000	15,263,000
Consumer finance \| Automobiles \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	2,650,000	2,628,000
Consumer finance \| Automobiles \| 90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	599,000	892,000
Consumer finance \| Automobiles \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	17,952,000	18,783,000
Consumer finance \| Automobiles \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	380,699,000	382,493,000
Consumer finance \| Marine and recreational vehicles
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	68,142,000	67,234,000
Loans on nonaccrual status	15,000
Consumer finance \| Marine and recreational vehicles \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	215,000	282,000
Consumer finance \| Marine and recreational vehicles \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	22,000	115,000
Consumer finance \| Marine and recreational vehicles \| 90+ Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	15,000
Consumer finance \| Marine and recreational vehicles \| Total Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	252,000	397,000
Consumer finance \| Marine and recreational vehicles \| Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans, gross	$ 67,890,000	$ 66,837,000

Loans - Amortized cost basis of

Loans - Amortized cost basis of loans on nonaccrual status (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Interest income on loans on nonaccrual status	$ 27,000
Reversal of interest income upon placing commercial loans on nonaccrual status	11,000
Loans on nonaccrual status	947,000	$ 1,298,000
Residential mortgage
Loans on nonaccrual status	333,000	320,000
Equity lines
Loans on nonaccrual status		77,000
Other consumer
Loans on nonaccrual status		9,000
Consumer finance \| Automobiles
Loans on nonaccrual status	599,000	$ 892,000
Consumer finance \| Marine and recreational vehicles
Loans on nonaccrual status	$ 15,000

Loans - Amortized cost basis _2

Loans - Amortized cost basis of loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Modifications [Line Items]
Amortized Cost	$ 569	$ 1,585
% of Total Class of Financing Receivable	0%	0.10%
Term Extension
Financing Receivable, Modifications [Line Items]
Amortized Cost	$ 552	$ 1,366
Interest Rate Reduction
Financing Receivable, Modifications [Line Items]
Amortized Cost	17	219
Commercial real estate \| Term Extension
Financing Receivable, Modifications [Line Items]
Amortized Cost	$ 93	$ 1,127
% of Total Class of Financing Receivable	0%	0.20%
Commercial real estate \| Interest Rate Reduction
Financing Receivable, Modifications [Line Items]
Amortized Cost		$ 45
% of Total Class of Financing Receivable		0%
Commercial business \| Term Extension
Financing Receivable, Modifications [Line Items]
Amortized Cost	$ 20	$ 169
% of Total Class of Financing Receivable	0%	0.10%
Commercial business \| Interest Rate Reduction
Financing Receivable, Modifications [Line Items]
Amortized Cost	$ 17	$ 174
% of Total Class of Financing Receivable	0%	0.20%
Residential mortgage \| Term Extension
Financing Receivable, Modifications [Line Items]
Amortized Cost	$ 439	$ 70
% of Total Class of Financing Receivable	0.10%	0%

Loans - Loan Modifications (Det

Loans - Loan Modifications (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average interest rate of modified financing receivables	1.51%	1.54%
Weighted average extension term of modified financing receivables	5 years 1 month 6 days	3 years 2 months 12 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%
Weighted average extension term of modified financing receivables	1 year	2 years 7 months 6 days
Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average interest rate of modified financing receivables		1.75%
Weighted average extension term of modified financing receivables	2 years 3 months 18 days	4 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%
Weighted average extension term of modified financing receivables	6 years 1 month 6 days	10 years

Allowance for Credit Losses - L

Allowance for Credit Losses - Loan Portfolio (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for credit losses activity by loan portfolio
Beginning balance	$ 39,651	$ 40,518	$ 40,157
Provision charged to operations	13,100	8,126	3,172
Loans charged off	(17,163)	(14,115)
Recoveries of loans previously charged off	4,499	4,631
Ending balance	40,087	39,651	40,518
Impact of ASC 326 \| Accounting Standards Update 2016-13
Allowance for credit losses activity by loan portfolio
Beginning balance		491
Ending balance			491
Impact of ASC 326 \| Accounting Standards Update 2016-13 \| Non-PCD loans
Allowance for credit losses activity by loan portfolio
Beginning balance		(113)
Ending balance			(113)
Impact of ASC 326 \| Accounting Standards Update 2016-13 \| PCD loans
Allowance for credit losses activity by loan portfolio
Beginning balance		604
Ending balance			604
Commercial
Allowance for credit losses activity by loan portfolio
Beginning balance	12,315	11,219
Provision charged to operations	1,058	978
Loans charged off	(63)	(16)
Recoveries of loans previously charged off	37	156
Ending balance	13,347	12,315	11,219
Commercial \| Impact of ASC 326 \| Accounting Standards Update 2016-13
Allowance for credit losses activity by loan portfolio
Beginning balance		(22)
Ending balance			(22)
Commercial \| Impact of ASC 326 \| Accounting Standards Update 2016-13 \| Non-PCD loans
Allowance for credit losses activity by loan portfolio
Beginning balance		(617)
Ending balance			(617)
Commercial \| Impact of ASC 326 \| Accounting Standards Update 2016-13 \| PCD loans
Allowance for credit losses activity by loan portfolio
Beginning balance		595
Ending balance			595
Consumer
Allowance for credit losses activity by loan portfolio
Beginning balance	3,758	3,330
Provision charged to operations	442	498
Loans charged off	(377)	(356)
Recoveries of loans previously charged off	209	179
Ending balance	4,032	3,758	3,330
Consumer \| Impact of ASC 326 \| Accounting Standards Update 2016-13
Allowance for credit losses activity by loan portfolio
Beginning balance		107
Ending balance			107
Consumer \| Impact of ASC 326 \| Accounting Standards Update 2016-13 \| Non-PCD loans
Allowance for credit losses activity by loan portfolio
Beginning balance		98
Ending balance			98
Consumer \| Impact of ASC 326 \| Accounting Standards Update 2016-13 \| PCD loans
Allowance for credit losses activity by loan portfolio
Beginning balance		9
Ending balance			9
Consumer finance
Allowance for credit losses activity by loan portfolio
Beginning balance	23,578	25,969	24,791
Provision charged to operations	11,600	6,650
Loans charged off	(16,723)	(13,743)
Recoveries of loans previously charged off	4,253	4,296
Ending balance	$ 22,708	23,578	25,969
Consumer finance \| Impact of ASC 326 \| Accounting Standards Update 2016-13
Allowance for credit losses activity by loan portfolio
Beginning balance		406
Ending balance			406
Consumer finance \| Impact of ASC 326 \| Accounting Standards Update 2016-13 \| Non-PCD loans
Allowance for credit losses activity by loan portfolio
Beginning balance		$ 406
Ending balance			$ 406

Allowance for Credit Losses - C

Allowance for Credit Losses - Change in Allowance for Loan Losses (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Allowance balance attributable to loans:
Beginning balance	$ 40,157
Provision charged to operations	3,172
Loans charged off	(7,418)
Recoveries of loans previously charged off	4,607
Ending balance	40,518
Residential mortgage
Allowance balance attributable to loans:
Beginning balance	2,660
Provision charged to operations	(54)
Loans charged off	(2)
Recoveries of loans previously charged off	18
Ending balance	2,622
Real Estate Construction
Allowance balance attributable to loans:
Beginning balance	856
Provision charged to operations	(68)
Ending balance	788
Commercial, Financial & Agricultural
Allowance balance attributable to loans:
Beginning balance	11,085
Provision charged to operations	(534)
Loans charged off	(140)
Recoveries of loans previously charged off	20
Ending balance	10,431
Equity lines
Allowance balance attributable to loans:
Beginning balance	593
Provision charged to operations	(98)
Recoveries of loans previously charged off	2
Ending balance	497
Consumer
Allowance balance attributable to loans:
Beginning balance	172
Provision charged to operations	186
Loans charged off	(260)
Recoveries of loans previously charged off	113
Ending balance	211
Consumer finance
Allowance balance attributable to loans:
Beginning balance	24,791
Provision charged to operations	3,740
Loans charged off	(7,016)
Recoveries of loans previously charged off	4,454
Ending balance	$ 25,969

Allowance for Credit Losses - P

Allowance for Credit Losses - Provision for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for Credit Losses
Provision for loans	$ 13,100	$ 8,126	$ 3,172
Provision for unfunded commitments	150	149
Total	$ 13,250	$ 8,275	$ 3,172

Allowance for Credit Losses -_2

Allowance for Credit Losses - Loan Rating and Year of Origination (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Term Loans Amortized Cost Basis by Origination Year
Loans, gross	$ 1,920,398,000	$ 1,742,139,000	$ 1,635,718,000
Commercial and consumer loan portfolio
Term Loans Amortized Cost Basis by Origination Year
2024	281,353,000	225,488,000
2023	218,665,000	287,252,000
2022	285,203,000	234,752,000
2021	185,661,000	187,479,000
2020	168,717,000	64,335,000
Prior	230,059,000	204,500,000
Revolving Loans Recorded Balance	83,329,000	68,946,000
Revolving Loans Converted to Term	618,000	877,000
Loans, gross	1,453,605,000	1,273,629,000
Commercial and consumer loan portfolio \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	281,228,000	225,426,000
2023	217,775,000	287,252,000
2022	285,111,000	229,021,000
2021	185,438,000	187,376,000
2020	168,614,000	64,259,000
Prior	228,620,000	203,065,000
Revolving Loans Recorded Balance	83,329,000	68,946,000
Revolving Loans Converted to Term	456,000	724,000
Loans, gross	1,450,571,000	1,266,069,000
Commercial and consumer loan portfolio \| Special Mention
Term Loans Amortized Cost Basis by Origination Year
2024		62,000
2023	890,000
2022		5,731,000
2021	223,000
2020	103,000
Prior	1,151,000	1,003,000
Revolving Loans Converted to Term	76,000	85,000
Loans, gross	2,443,000	6,881,000
Commercial and consumer loan portfolio \| Substandard
Term Loans Amortized Cost Basis by Origination Year
2021		103,000
2020		5,000
Prior	172,000	165,000
Revolving Loans Converted to Term	86,000
Loans, gross	258,000	273,000
Commercial and consumer loan portfolio \| Substandard Nonaccrual
Term Loans Amortized Cost Basis by Origination Year
2024	125,000
2022	92,000
2020		71,000
Prior	116,000	267,000
Revolving Loans Converted to Term		68,000
Loans, gross	333,000	406,000
Commercial real estate
Term Loans Amortized Cost Basis by Origination Year
2024	91,330,000	81,324,000
2023	80,445,000	125,278,000
2022	161,794,000	161,536,000
2021	131,071,000	121,365,000
2020	110,055,000	37,383,000
Prior	159,377,000	141,117,000
Revolving Loans Converted to Term	110,000	119,000
Loans, gross	734,182,000	668,122,000
Commercial real estate \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	91,330,000	81,324,000
2023	80,445,000	125,278,000
2022	161,794,000	155,805,000
2021	131,071,000	121,365,000
2020	110,055,000	37,383,000
Prior	158,437,000	140,158,000
Revolving Loans Converted to Term	110,000	119,000
Loans, gross	733,242,000	661,432,000
Commercial real estate \| Special Mention
Term Loans Amortized Cost Basis by Origination Year
2022		5,731,000
Prior	940,000	959,000
Loans, gross	940,000	6,690,000
Commercial business
Term Loans Amortized Cost Basis by Origination Year
2024	9,425,000	18,744,000
2023	13,097,000	18,190,000
2022	14,663,000	17,219,000
2021	13,954,000	12,062,000
2020	8,843,000	14,847,000
Prior	22,690,000	15,339,000
Revolving Loans Recorded Balance	22,206,000	18,686,000
Revolving Loans Converted to Term	69,000	261,000
Loans, gross	104,947,000	115,348,000
Revolving Loans Converted to Term During The Period	69,000
Commercial business \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	9,425,000	18,682,000
2023	13,097,000	18,190,000
2022	14,663,000	17,219,000
2021	13,954,000	12,062,000
2020	8,843,000	14,847,000
Prior	22,690,000	15,339,000
Revolving Loans Recorded Balance	22,206,000	18,686,000
Revolving Loans Converted to Term	69,000	261,000
Loans, gross	104,947,000	115,286,000
Commercial business \| Special Mention
Term Loans Amortized Cost Basis by Origination Year
2024		62,000
Loans, gross		62,000
Construction - commercial real estate
Term Loans Amortized Cost Basis by Origination Year
2024	47,294,000	29,346,000
2023	55,159,000	36,907,000
2022	24,320,000
2021		3,515,000
2020	5,944,000
Loans, gross	132,717,000	69,768,000
Construction - commercial real estate \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	47,294,000	29,346,000
2023	55,159,000	36,907,000
2022	24,320,000
2021		3,515,000
2020	5,944,000
Loans, gross	132,717,000	69,768,000
Land acquisition and development
Term Loans Amortized Cost Basis by Origination Year
2024	33,129,000	4,562,000
2023	2,653,000	4,665,000
2022	366,000	9,844,000
2021	1,323,000	9,993,000
2020	8,601,000
Loans, gross	46,072,000	29,064,000
Land acquisition and development \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	33,129,000	4,562,000
2023	2,653,000	4,665,000
2022	366,000	9,844,000
2021	1,323,000	9,993,000
2020	8,601,000
Loans, gross	46,072,000	29,064,000
Builder lines
Term Loans Amortized Cost Basis by Origination Year
2024	30,651,000	17,919,000
2023	3,120,000	5,124,000
2022	1,430,000	1,221,000
2020		404,000
Prior	404,000
Loans, gross	35,605,000	24,668,000
Builder lines \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	30,651,000	17,919,000
2023	3,120,000	5,124,000
2022	1,430,000	1,221,000
2020		404,000
Prior	404,000
Loans, gross	35,605,000	24,668,000
Construction - consumer real estate
Term Loans Amortized Cost Basis by Origination Year
2024	16,472,000	7,889,000
2023	2,327,000	3,240,000
Revolving Loans Recorded Balance		94,000
Loans, gross	18,799,000	11,223,000
Construction - consumer real estate \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	16,472,000	7,889,000
2023	2,327,000	3,240,000
Revolving Loans Recorded Balance		94,000
Loans, gross	18,799,000	11,223,000
Residential mortgage
Term Loans Amortized Cost Basis by Origination Year
2024	47,778,000	59,441,000
2023	59,480,000	91,086,000
2022	81,083,000	44,292,000
2021	39,056,000	40,192,000
2020	35,082,000	11,586,000
Prior	46,330,000	46,659,000
Loans, gross	308,809,000	293,256,000
Residential mortgage \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	47,653,000	59,441,000
2023	58,590,000	91,086,000
2022	80,991,000	44,292,000
2021	38,833,000	40,089,000
2020	34,979,000	11,524,000
Prior	45,831,000	46,192,000
Loans, gross	306,877,000	292,624,000
Residential mortgage \| Special Mention
Term Loans Amortized Cost Basis by Origination Year
2023	890,000
2021	223,000
2020	103,000
Prior	211,000	44,000
Loans, gross	1,427,000	44,000
Residential mortgage \| Substandard
Term Loans Amortized Cost Basis by Origination Year
2021		103,000
Prior	172,000	165,000
Loans, gross	172,000	268,000
Residential mortgage \| Substandard Nonaccrual
Term Loans Amortized Cost Basis by Origination Year
2024	125,000
2022	92,000
2020		62,000
Prior	116,000	258,000
Loans, gross	333,000	320,000
Equity lines
Term Loans Amortized Cost Basis by Origination Year
2022		34,000
2021		70,000
2020	60,000	5,000
Prior	628,000	866,000
Revolving Loans Recorded Balance	61,077,000	50,120,000
Revolving Loans Converted to Term	439,000	497,000
Loans, gross	62,204,000	51,592,000
Revolving Loans Converted to Term During The Period	179,000
Equity lines \| Pass
Term Loans Amortized Cost Basis by Origination Year
2022		34,000
2021		70,000
2020	60,000
Prior	628,000	857,000
Revolving Loans Recorded Balance	61,077,000	50,120,000
Revolving Loans Converted to Term	277,000	344,000
Loans, gross	62,042,000	51,425,000
Equity lines \| Special Mention
Term Loans Amortized Cost Basis by Origination Year
Revolving Loans Converted to Term	76,000	85,000
Loans, gross	76,000	85,000
Equity lines \| Substandard
Term Loans Amortized Cost Basis by Origination Year
2020		5,000
Revolving Loans Converted to Term	86,000
Loans, gross	86,000	5,000
Equity lines \| Substandard Nonaccrual
Term Loans Amortized Cost Basis by Origination Year
Prior		9,000
Revolving Loans Converted to Term		68,000
Loans, gross		77,000
Other consumer
Term Loans Amortized Cost Basis by Origination Year
2024	5,274,000	6,263,000
2023	2,384,000	2,762,000
2022	1,547,000	606,000
2021	257,000	282,000
2020	132,000	110,000
Prior	630,000	519,000
Revolving Loans Recorded Balance	46,000	46,000
Loans, gross	10,270,000	10,588,000
Other consumer \| Pass
Term Loans Amortized Cost Basis by Origination Year
2024	5,274,000	6,263,000
2023	2,384,000	2,762,000
2022	1,547,000	606,000
2021	257,000	282,000
2020	132,000	101,000
Prior	630,000	519,000
Revolving Loans Recorded Balance	46,000	46,000
Loans, gross	$ 10,270,000	10,579,000
Other consumer \| Substandard Nonaccrual
Term Loans Amortized Cost Basis by Origination Year
2020		9,000
Loans, gross		$ 9,000

Allowance for Credit Losses -_3

Allowance for Credit Losses - Credit Rating and Year of Origination (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Term Loans Amortized Cost Basis by Origination Year
Loans, gross	$ 1,920,398	$ 1,742,139	$ 1,635,718
Consumer finance
Term Loans Amortized Cost Basis by Origination Year
2024	147,822	144,649
2023	108,397	179,264
2022	124,597	87,943
2021	56,176	32,238
2020	19,700	15,919
Prior	10,101	8,497
Loans, gross	466,793	468,510
Consumer finance \| Very good
Term Loans Amortized Cost Basis by Origination Year
2024	30,285	22,397
2023	16,322	27,395
2022	20,641	14,148
2021	10,362	10,964
2020	8,353	2,795
Prior	3,831	2,460
Loans, gross	89,794	80,159
Consumer finance \| Good
Term Loans Amortized Cost Basis by Origination Year
2024	44,811	42,622
2023	32,156	50,930
2022	36,287	17,132
2021	10,728	4,722
2020	2,752	1,500
Prior	959	778
Loans, gross	127,693	117,684
Consumer finance \| Fairly good
Term Loans Amortized Cost Basis by Origination Year
2024	41,881	44,492
2023	34,258	55,189
2022	37,669	26,682
2021	16,970	6,216
2020	3,240	3,984
Prior	1,636	1,507
Loans, gross	135,654	138,070
Consumer finance \| Fair
Term Loans Amortized Cost Basis by Origination Year
2024	25,796	28,779
2023	21,278	36,794
2022	24,379	22,266
2021	13,260	7,014
2020	3,674	4,808
Prior	2,194	1,908
Loans, gross	90,581	101,569
Consumer finance \| Marginal
Term Loans Amortized Cost Basis by Origination Year
2024	5,049	6,359
2023	4,383	8,956
2022	5,621	7,715
2021	4,856	3,322
2020	1,681	2,832
Prior	1,481	1,844
Loans, gross	23,071	31,028
Consumer finance \| Automobiles
Term Loans Amortized Cost Basis by Origination Year
2024	135,183	129,484
2023	95,488	155,913
2022	104,912	76,447
2021	46,812	20,872
2020	10,568	12,991
Prior	5,688	5,569
Loans, gross	398,651	401,276
Consumer finance \| Automobiles \| Very good
Term Loans Amortized Cost Basis by Origination Year
2024	22,161	14,916
2023	10,039	12,395
2022	7,971	4,291
2021	2,359	1,012
2020	426	277
Prior	77	22
Loans, gross	43,033	32,913
Consumer finance \| Automobiles \| Good
Term Loans Amortized Cost Basis by Origination Year
2024	40,296	35,203
2023	25,730	42,800
2022	29,455	15,530
2021	9,402	3,338
2020	1,574	1,090
Prior	334	325
Loans, gross	106,791	98,286
Consumer finance \| Automobiles \| Fairly good
Term Loans Amortized Cost Basis by Origination Year
2024	41,881	44,227
2023	34,058	54,968
2022	37,486	26,645
2021	16,935	6,186
2020	3,213	3,984
Prior	1,602	1,470
Loans, gross	135,175	137,480
Consumer finance \| Automobiles \| Fair
Term Loans Amortized Cost Basis by Origination Year
2024	25,796	28,779
2023	21,278	36,794
2022	24,379	22,266
2021	13,260	7,014
2020	3,674	4,808
Prior	2,194	1,908
Loans, gross	90,581	101,569
Consumer finance \| Automobiles \| Marginal
Term Loans Amortized Cost Basis by Origination Year
2024	5,049	6,359
2023	4,383	8,956
2022	5,621	7,715
2021	4,856	3,322
2020	1,681	2,832
Prior	1,481	1,844
Loans, gross	23,071	31,028
Consumer finance \| Marine and recreational vehicles
Term Loans Amortized Cost Basis by Origination Year
2024	12,639	15,165
2023	12,909	23,351
2022	19,685	11,496
2021	9,364	11,366
2020	9,132	2,928
Prior	4,413	2,928
Loans, gross	68,142	67,234
Consumer finance \| Marine and recreational vehicles \| Very good
Term Loans Amortized Cost Basis by Origination Year
2024	8,124	7,481
2023	6,283	15,000
2022	12,670	9,857
2021	8,003	9,952
2020	7,927	2,518
Prior	3,754	2,438
Loans, gross	46,761	47,246
Consumer finance \| Marine and recreational vehicles \| Good
Term Loans Amortized Cost Basis by Origination Year
2024	4,515	7,419
2023	6,426	8,130
2022	6,832	1,602
2021	1,326	1,384
2020	1,178	410
Prior	625	453
Loans, gross	20,902	19,398
Consumer finance \| Marine and recreational vehicles \| Fairly good
Term Loans Amortized Cost Basis by Origination Year
2024		265
2023	200	221
2022	183	37
2021	35	30
2020	27
Prior	34	37
Loans, gross	$ 479	$ 590

Allowance for Credit Losses - G

Allowance for Credit Losses - Gross Charge-offs of loans by Year of Origination (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Current Period Gross Charge-offs by Origination Year
2024	$ 1,197,000	$ 1,554,000
2023	3,398,000	6,340,000
2022	7,325,000	3,838,000
2021	3,763,000	876,000
2020	713,000	743,000
Prior	767,000	764,000
Total	17,163,000	14,115,000
Collateral dependent loans	0
Demand deposit overdrafts
Current Period Gross Charge-offs by Origination Year
2024	256,000,000	308,000
Commercial business
Current Period Gross Charge-offs by Origination Year
2024	63,000
2023		16,000
Total	63,000	16,000
Residential mortgage
Current Period Gross Charge-offs by Origination Year
2024	13,000
2022		4,000
Total	13,000	4,000
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	278,000	308,000
2023	19,000	28,000
2022	5,000
2021		3,000
2020		2,000
Prior	62,000	3,000
Total	364,000	344,000
Consumer finance
Current Period Gross Charge-offs by Origination Year
Total	16,723,000	13,743,000
Consumer finance \| Automobiles
Current Period Gross Charge-offs by Origination Year
2024	843,000	1,246,000
2023	3,323,000	6,169,000
2022	7,080,000	3,783,000
2021	3,705,000	833,000
2020	670,000	735,000
Prior	691,000	716,000
Total	16,312,000	13,482,000
Consumer finance \| Marine and recreational vehicles
Current Period Gross Charge-offs by Origination Year
2023	56,000	127,000
2022	240,000	51,000
2021	58,000	40,000
2020	43,000	6,000
Prior	14,000	37,000
Total	$ 411,000	$ 261,000

OREO - Change in OREO (Details)

OREO - Change in OREO (Details) - USD ($)	12 Months Ended
OREO - Change in OREO (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2022	Dec. 31, 2023
Changes in the balance for OREO
Transfers from bank premises	$ 1,827,000	$ 423,000
Sales proceeds	(416,000)
Gain on disposition	120,000
Balance at the end of year, gross	1,531,000
Less allowance for losses	(215,000)		$ 0
Balance at the end of the year, net	$ 1,316,000		$ 0

OREO - Changes in the Allowance

OREO - Changes in the Allowance for OREO Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in the allowance for OREO losses
Balance at the beginning of year	$ 0
Provision for losses	215,000
Balance at the end of year	215,000	$ 0
Gain on disposition	120,000
OREO, expenses other than provision for losses	$ 218,000	$ 0	$ 2,000

Corporate Premises and Equipm_3

Corporate Premises and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Corporate premises and equipment, Gross	$ 81,590	$ 82,313
Less accumulated depreciation	(41,472)	(40,399)
Corporate premises and equipment, net	40,118	41,914
Depreciation expense	3,140	3,290	$ 3,740
Land
Property, Plant and Equipment [Line Items]
Corporate premises and equipment, Gross	8,838	9,024
Buildings
Property, Plant and Equipment [Line Items]
Corporate premises and equipment, Gross	48,543	49,732
Equipment, furniture and fixtures
Property, Plant and Equipment [Line Items]
Corporate premises and equipment, Gross	$ 24,209	$ 23,557

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Other Intangible Assets
Goodwill	$ 25,191,000	$ 25,191,000
Changes in the recorded balance of goodwill	0	0	$ 0
Amortization of intangible assets	$ 260,000	$ 272,000	$ 298,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Gross carrying amounts and accumulated amortization
Gross Carrying Amount	$ 3,116	$ 3,116
Accumulated Amortization	(1,969)	(1,709)
Other intangible assets, net	1,147	1,407
Core deposit intangibles
Gross carrying amounts and accumulated amortization
Gross Carrying Amount	1,711	1,711
Accumulated Amortization	(700)	(588)
Other amortizable intangibles
Gross carrying amounts and accumulated amortization
Gross Carrying Amount	1,405	1,405
Accumulated Amortization	$ (1,269)	$ (1,121)

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Amortization (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Other Intangible Assets
Amortization of intangible assets	$ 260,000	$ 272,000	$ 298,000
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2025	237,000
2026	101,000
2027	101,000
2028	101,000
2029	101,000
Thereafter	506,000
Total	$ 1,147,000	$ 1,407,000

Leases (Details)

Leases (Details) - USD ($)	12 Months Ended
Leases (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lease cost
Operating lease cost	$ 821,000	$ 872,000	$ 1,008,000
Amortization of right-of-use asset	452,000	314,000	314,000
Interest on lease liability	220,000	121,000	125,000
Short-term lease cost	89,000	99,000	139,000
Variable lease cost	121,000	63,000	97,000
Total lease cost	1,703,000	1,469,000	1,683,000
Operating leases:
Right-of-use assets	$ 2,237,000	$ 2,836,000
Right-of-use assets, line item in Statement of Financial Position	Other assets	Other assets
Lease liabilities	$ 2,260,000	$ 2,877,000
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Weighted average remaining lease term (years)	8 years 6 months	8 years
Weighted average discount rate	3%	2.70%
Finance leases:
Right of use assets	$ 7,316,000	$ 5,251,000
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets.	Other assets.
Lease liabilities	$ 8,169,000	$ 5,921,000
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Long-term Borrowings	Long-term Borrowings
Weighted average remaining lease term (years)	15 years 6 months	16 years 6 months
Weighted average discount rate	3%	2%
Right-of-use assets obtained in exchange for lease liabilities	$ 2,730,000	$ 775,000	888,000
Right of use assets obtained in exchange for lease liabilities under finance leases	2,730,000	775,000	888,000
Lease incentives received, finance leases	42,000
Lease incentives received, operating leases			37,000
Operating cash flows	832,000	905,000	1,823,000
Operating cash flows	220,000	121,000	125,000
Finance cash flows	233,000	220,000	440,000
Total cash flows	$ 1,285,000	$ 1,246,000	$ 2,388,000

Leases - Maturities of Corporat

Leases - Maturities of Corporation's Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating leases
2025	$ 540
2026	451
2027	220
2028	179
2029	159
Thereafter	1,029
Total	2,578
Imputed interest	(318)
Lease liabilities	2,260	$ 2,877
Finance leases
2025	512
2026	574
2027	586
2028	602
2029	618
Thereafter	7,360
Total	10,252
Imputed interest	(2,083)
Lease liabilities	$ 8,169	$ 5,921

Time Deposits - Time Deposits (

Time Deposits - Time Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Time Deposits
Certificates of deposit, over $250	$ 264,405	$ 226,423
Other time deposits	553,924	446,776
Time Deposits, Total	$ 818,329	$ 673,199

Time Deposits - Remaining Matur

Time Deposits - Remaining Maturities on Time Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Time Deposits
2025	$ 705,715
2026	86,966
2027	20,910
2028	2,334
2029	1,857
Thereafter	547
Time Deposits, Total	$ 818,329	$ 673,199

Borrowings - Short-term Borrowi

Borrowings - Short-term Borrowings (Details) - USD ($)	12 Months Ended
Borrowings - Short-term Borrowings (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Balance outstanding at year end	$ 28,994,000	$ 58,223,000
Maximum balance at any month end during the year	58,842,000	145,579,000
Average balance for the year	$ 29,614,000	$ 96,882,000
Weighted average rate for the year (as a percent)	1.88%	3.79%
Weighted average rate on borrowings at year end	1.64%	3%
Estimated fair value at year end	$ 28,993,000	$ 55,732,000
Customers
Balance outstanding at year end	$ 28,990,000	30,710,000
Federal Reserve Bank
Balance outstanding at year end		27,500,000
Overnight borrowings \| Federal Reserve Bank
Balance outstanding at year end		$ 18,000

Borrowings - Long-term Borrowin

Borrowings - Long-term Borrowings (Details) $ in Thousands	12 Months Ended
Borrowings - Long-term Borrowings (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Convertible \| Federal Home Loan Bank Advances [Member]
Long-term borrowings
Aggregate principal amount	$ 35,000
Fixed Rate Hybrid \| Federal Home Loan Bank Advances [Member]
Long-term borrowings
Aggregate principal amount	5,000
2030 Subordinated Notes \| Subordinated Notes
Long-term borrowings
Aggregate principal amount	20,000
Corporation repaid	$ 4,000
2030 Subordinated Notes \| Subordinated Notes \| Until September 2025
Long-term borrowings
Fixed rate (as a percent)	4.875%
Investment, Variable Interest Rate, Type [Extensible Enumeration]	cffi:ThreeMonthSecuredOvernightFinancingRateMember
2030 Subordinated Notes \| Subordinated Notes \| Thereafter
Long-term borrowings
Variable rate, basis spread (as a percent)	475.50%

Borrowings - FHLB Advances (Det

Borrowings - FHLB Advances (Details) $ in Thousands	12 Months Ended
Borrowings - FHLB Advances (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Federal Home Loan Bank Advances [Member] \| Fixed Rate Hybrid
FHLB Advances
Aggregate principal amount	$ 5,000
Federal Home Loan Bank Advances [Member] \| Convertible
FHLB Advances
Aggregate principal amount	35,000
Fixed Rate Hybrid, 4.45% \| Fixed Rate Hybrid
FHLB Advances
Aggregate principal amount	$ 5,000
Interest Rate	4.45%
Maturity Date	Mar. 05, 2027
Convertible, 4.06% \| Convertible
FHLB Advances
Aggregate principal amount	$ 5,000
Interest Rate	4.06%
Maturity Date	Mar. 05, 2027
Next Conversion Option Date	Mar. 05, 2025
Convertible 4.13% \| Convertible
FHLB Advances
Aggregate principal amount	$ 10,000
Interest Rate	4.13%
Maturity Date	Jun. 07, 2027
Next Conversion Option Date	Mar. 07, 2025
Convertible 4.68% \| Convertible
FHLB Advances
Aggregate principal amount	$ 10,000
Interest Rate	4.68%
Maturity Date	Mar. 23, 2026
Next Conversion Option Date	Sep. 23, 2025
Convertible 4.55% \| Convertible
FHLB Advances
Aggregate principal amount	$ 10,000
Interest Rate	4.55%
Maturity Date	Sep. 21, 2026
Next Conversion Option Date	Mar. 23, 2026

Borrowings - Contractual Maturi

Borrowings - Contractual Maturities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Long-term borrowings
2026	$ 20,000
2027	20,000
Thereafter	20,000
Long-term debt	60,000
Fixed Rate
Long-term borrowings
2026	20,000
2027	20,000
Thereafter	20,000
Long-term debt	$ 60,000

Borrowings - Line of Credit and

Borrowings - Line of Credit and other disclosures (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Long-term borrowings
Available sources of credit for future borrowings	$ 606,230
FHLB
Long-term borrowings
Available sources of credit for future borrowings	217,730
FRB
Long-term borrowings
Available sources of credit for future borrowings	313,500
Federal Funds Agreements
Long-term borrowings
Available sources of credit for future borrowings	$ 75,000

Borrowings - Statutory Trusts (

Borrowings - Statutory Trusts (Details) - Trust Preferred Securities Subject to Mandatory Redemption - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2007
Long-term borrowings
Securities issued		$ 25,000,000
Investment, Variable Interest Rate, Type [Extensible Enumeration]	cffi:ThreeMonthSecuredOvernightFinancingRateMember
Minimum
Long-term borrowings
Variable rate, basis spread (as a percent)	1.57%
Maximum
Long-term borrowings
Variable rate, basis spread (as a percent)	3.15%
Common Stock
Long-term borrowings
Securities issued	$ 775,000
Private Placement
Long-term borrowings
Securities issued	25,000,000
CVBK Trust I
Long-term borrowings
Securities issued	$ 5,000,000
Interest rate (as a percent)	4.64%
Principal asset of Trust, notes receivable from reporting entity	$ 5,160,000
C&F Financial Statutory Trust I
Long-term borrowings
Securities issued	$ 10,000,000
Interest rate (as a percent)	5.80%
Principal asset of Trust, notes receivable from reporting entity	$ 10,310,000
CF Financial Statutory Trust II
Long-term borrowings
Securities issued	$ 10,000,000
Interest rate (as a percent)	5.10%
Principal asset of Trust, notes receivable from reporting entity	$ 10,310,000

Equity, Other Comprehensive I_3

Equity, Other Comprehensive Income and Earnings Per Share - Equity and Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Shareholders' Equity
Number of shares withheld from employees to satisfy tax withholding obligations	13,937	12,039	7,696
Share Repurchase Program 2021
Shareholders' Equity
Shares repurchased (in shares)			89,373
Cost of shares repurchased			$ 4,600
Share Repurchase Program 2022
Shareholders' Equity
Shares repurchased (in shares)		135,327
Cost of shares repurchased		$ 7,510
Share Repurchase Program 2024
Shareholders' Equity
Stock repurchase program, authorized amount	$ 10,000
Shares repurchased (in shares)	160,694
Cost of shares repurchased	$ 7,950
Share Repurchase Program 2025
Shareholders' Equity
Stock repurchase program, authorized amount	$ 5,000

Equity, Other Comprehensive I_4

Equity, Other Comprehensive Income and Earnings Per Share - Changes in Accumulated Other Comprehensive Income (Loss), Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Balance, beginning of the period	$ 217,516	$ 196,233	$ 211,024
Other comprehensive income (loss), net of tax	2,083	10,271	(34,871)
Balance, end of period	226,970	217,516	196,233
Accumulated Other Comprehensive Income (Loss), Net
Balance, beginning of the period	(26,687)	(36,958)	(2,087)
Other comprehensive income (loss) arising during the period	2,565	12,865	(43,948)
Related income tax effects	(527)	(2,676)	9,106
Other comprehensive income (loss) arising during the period, net of tax	2,038	10,189	(34,842)
Reclassifications into net income	56	103	(37)
Related income tax effects	(11)	(21)	8
Reclassifications into net income, net of tax	45	82	(29)
Other comprehensive income (loss), net of tax	2,083	10,271	(34,871)
Balance, end of period	(24,604)	(26,687)	(36,958)
Securities Available For Sale
Balance, beginning of the period	(25,002)	(35,184)	437
Other comprehensive income (loss) arising during the period	1,657	12,883	(45,090)
Related income tax effects	(348)	(2,705)	9,469
Other comprehensive income (loss) arising during the period, net of tax	1,309	10,178	(35,621)
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	1,309	10,182	(35,621)
Balance, end of period	(23,693)	(25,002)	(35,184)
Defined Benefit Plan
Balance, beginning of the period	(2,752)	(3,236)	(2,055)
Other comprehensive income (loss) arising during the period	1,146	508	(1,465)
Related income tax effects	(240)	(106)	308
Other comprehensive income (loss) arising during the period, net of tax	906	402	(1,157)
Reclassifications into net income	62	104	(30)
Related income tax effects	(13)	(22)	6
Reclassifications into net income, net of tax	49	82	(24)
Other comprehensive income (loss), net of tax	955	484	(1,181)
Balance, end of period	(1,797)	(2,752)	(3,236)
Cash Flow Hedges
Balance, beginning of the period	1,067	1,462	(469)
Other comprehensive income (loss) arising during the period	(238)	(526)	2,607
Related income tax effects	61	135	(671)
Other comprehensive income (loss) arising during the period, net of tax	(177)	(391)	1,936
Reclassifications into net income	(6)	(6)	(7)
Related income tax effects	2	2	2
Reclassifications into net income, net of tax	(4)	(4)	(5)
Other comprehensive income (loss), net of tax	(181)	(395)	1,931
Balance, end of period	$ 886	$ 1,067	$ 1,462

Equity, Other Comprehensive I_5

Equity, Other Comprehensive Income and Earnings Per Share - Reclassification of Accumulated Other Comprehensive Loss, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net losses on sales, maturities and calls of available for sale securities		$ (5)
Noninterest expenses - Other	$ 7,324	6,864	$ 5,996
Interest expense - Trust preferred capital notes	1,331	1,193	1,164
Income tax expense	4,215	5,418	7,595
Reclassifications from accumulated other comprehensive loss into net income
Total reclassifications into net income	(45)	(82)	29
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	(49)	(82)	24
Reclassification of recognized net actuarial losses into net income \| Reclassifications from accumulated other comprehensive loss into net income
Noninterest expenses - Other	(129)	(171)	(38)
Amortization of prior service credit into net income \| Reclassifications from accumulated other comprehensive loss into net income
Noninterest expenses - Other	67	67	68
Related income tax effects \| Reclassifications from accumulated other comprehensive loss into net income
Income tax expense	13	22	(6)
Cash flow hedges: \| Reclassifications from accumulated other comprehensive loss into net income
Total reclassifications into net income	4	4	5
Amortization of hedging gains into net income \| Reclassifications from accumulated other comprehensive loss into net income
Interest expense - Trust preferred capital notes	6	6	7
Related income tax effects \| Reclassifications from accumulated other comprehensive loss into net income
Income tax expense	$ (2)	$ (2)	$ (2)

Equity, Other Comprehensive I_6

Equity, Other Comprehensive Income and Earnings Per Share - Earnings Per Share (EPS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components of earnings per share calculations
Net income attributable to C&F Financial Corporation	$ 19,834	$ 23,604	$ 29,159
Weighted average shares outstanding-basic	3,299,574	3,411,995	3,517,114
Weighted average shares outstanding-diluted	3,299,574	3,411,995	3,517,114

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Principal components on income tax expense:
Current taxes	$ 3,741	$ 4,832	$ 6,887
Deferred taxes	474	586	708
Income tax expense	$ 4,215	$ 5,418	$ 7,595

Income Taxes - Income Tax Rate

Income Taxes - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Amounts
Income tax at statutory rates	$ 5,068	$ 6,124	$ 7,762
State income taxes, net of federal benefit	15	82	536
Tax-exempt interest income	(626)	(582)	(427)
Excess compensation	79	38
Income from bank-owned life insurance	(178)	(104)	(130)
Investments in qualified housing projects	(87)	(75)	(56)
Share based compensation	(111)	(114)	(37)
Other	55	49	(53)
Income tax expense	$ 4,215	$ 5,418	$ 7,595
Percent of Pre-tax Income
Income tax at statutory rates (as a percent)	21%	21%	21%
State income taxes, net of federal benefit (as a percent)	0.10%	0.30%	1.50%
Tax-exempt interest income (as a percent)	(2.60%)	(2.00%)	(1.10%)
Excess compensation (as a percent)	0.30%	0.10%
Income from bank-owned life insurance (as a percent)	(0.70%)	(0.40%)	(0.40%)
Investments in qualified housing projects (as a percent)	(0.40%)	(0.30%)	(0.20%)
Share based compensation (as a percent)	(0.50%)	(0.40%)	(0.10%)
Other	0.20%	0.20%	(0.10%)
Income tax expense (as a percent)	17.40%	18.50%	20.60%

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets
Allowances for credit losses, reserve for unfunded commitments and OREO losses	$ 10,238	$ 10,123
Net unrealized loss on securities available for sale	6,298	6,646
Nonqualified deferred compensation plan	3,781	3,969
Lease liabilities	2,216	1,877
Fair value adjustments related to business combinations	251	377
Share-based compensation	736	857
Reserve for indemnification losses	313	433
Accrued expenses	521	562
Other	783	778
Deferred tax assets	25,137	25,622
Deferred tax liabilities
Goodwill and other intangible assets	(2,992)	(3,027)
Right of use assets	(2,034)	(1,728)
Depreciation	(1,213)	(1,175)
Defined benefit plan	(862)	(583)
Cash flow hedges	(317)	(378)
Deferred tax liabilities	(7,418)	(6,891)
Net deferred tax assets	$ 17,719	$ 18,731

Employee Benefit Plans - Define

Employee Benefit Plans - Defined Contribution Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined contribution plans
Minimum age	18 years
Amounts charged to expense	$ 1,470,000	$ 1,550,000	$ 1,440,000
Postretirement benefit plan \| Chief Executive Officer
Defined contribution plans
Amounts charged to expense	0	10,000
Nonqualified Executive Plan \| Profit-Sharing Plan
Defined contribution plans
Amounts charged to expense	$ 378,000	$ 325,000	$ 345,000
Cash Balance Plan \| C&F Bank
Defined contribution plans
Minimum age	21 years
Basis points added to 30-year Treasuries yield to compute interest credit (as a percent)	1.50%
Threshold monthly interest credits based on the yield under the benefit plan	3%

Employee Benefit Plans - Defi_2

Employee Benefit Plans - Defined Benefit Plans - Projected Benefit Obligations, Plan Assets, Funded Status and Rate Assumptions (Details) - C&F Bank - Cash Balance Plan - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in benefit obligation
Projected benefit obligation, beginning	$ 16,812,000	$ 15,267,000
Service cost	1,414,000	1,377,000	$ 1,837,000
Interest cost	757,000	728,000	492,000
Actuarial (gain) loss	802,000	(527,000)
Benefits paid	(1,128,000)	(1,087,000)
Projected benefit obligation, ending	17,053,000	16,812,000	15,267,000
Change in plan assets
Fair value of plan assets, beginning	19,588,000	18,356,000
Actual return on plan assets	1,697,000	2,319,000
Employer contributions	1,000,000
Benefits paid	(1,128,000)	(1,087,000)
Fair value of plan assets, ending	21,157,000	19,588,000	$ 18,356,000
Funded status	4,104,000	2,776,000
Amounts recognized as an other asset	4,104,000	2,776,000
Amounts recognized in accumulated other comprehensive loss
Net loss	2,443,000	3,718,000
Prior service credits	(168,000)	(235,000)
Deferred taxes	(478,000)	(731,000)
Total recognized in accumulated other comprehensive loss	$ 1,797,000	$ 2,752,000
Weighted-average assumptions for benefit obligation at valuation date
Discount rate	5.40%	4.70%
Rate of compensation increase	3%	3%
Interest crediting rate	5%	5%
Accumulated benefit obligation	$ 17,050,000	$ 16,810,000

Employee Benefit Plans - Defi_3

Employee Benefit Plans - Defined Benefit Plans - Components of Net Periodic Pension Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components of net periodic benefit cost:
Net periodic benefit cost	$ 882	$ 925	$ 639
C&F Bank \| Cash Balance Plan
Components of net periodic benefit cost:
Service cost, included in salaries and employee benefits	1,414	1,377	1,837
Interest cost	$ 757	$ 728	$ 492
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
Expected return on plan assets	$ (1,351)	$ (1,284)	$ (1,660)
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
Amortization of prior service credit	$ (67)	$ (67)	$ (68)
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
Recognized net actuarial losses	$ 129	$ 171	$ 38
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 components of net periodic benefit cost, included in other noninterest expense	$ (532)	$ (452)	$ (1,198)
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
Net periodic benefit cost	$ 882	$ 925	$ 639

Employee Benefit Plans - Defi_4

Employee Benefit Plans - Defined Benefit Plans - Weighted-average Assumptions for Net Periodic Benefit Cost (Details) - C&F Bank - Cash Balance Plan	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Weighted-average assumptions for net periodic benefit cost
Discount rate	4.70%	4.90%	2.50%
Expected return on plan assets	7.30%	7.30%	7.30%
Rate of compensation increase	3%	3%	3%
Interest crediting rate	5%	5%	5%

Employee Benefit Plans - Defi_5

Employee Benefit Plans - Defined Benefit Plans - Expected Benefit Payments (Details) - C&F Bank - Cash Balance Plan $ in Thousands	Dec. 31, 2024 USD ($)
Expected benefit payments
2025	$ 1,495
2026	1,009
2027	938
2028	1,766
2029	1,818
2030 - 2034	$ 12,589

Employee Benefit Plans - Defi_6

Employee Benefit Plans - Defined Benefit Plans - Weighted-Average Asset Allocations (Details) - C&F Bank - Cash Balance Plan	Dec. 31, 2024	Dec. 31, 2023
Weighted average asset allocations by asset category
Weighted average asset allocation by asset category	100%	100%
Mutual funds-fixed income
Weighted average asset allocations by asset category
Weighted average asset allocation by asset category	37%	40%
Mutual funds-equity
Weighted average asset allocations by asset category
Weighted average asset allocation by asset category	63%	60%

Employee Benefit Plans - Defi_7

Employee Benefit Plans - Defined Benefit Plans - Fair Value of Defined Benefit Plan Assets (Details) - C&F Bank - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Mutual funds-fixed income
Defined Benefit Plans
Target asset allocations	40%
Mutual funds-equity
Defined Benefit Plans
Target asset allocations	60%
Cash Balance Plan
Defined Benefit Plans
Assets at Fair Value	$ 21,157	$ 19,588	$ 18,356
Cash Balance Plan \| Level 1
Defined Benefit Plans
Assets at Fair Value	21,157	19,588
Cash Balance Plan \| Mutual funds-fixed income
Defined Benefit Plans
Assets at Fair Value	7,828	7,835
Cash Balance Plan \| Mutual funds-fixed income \| Level 1
Defined Benefit Plans
Assets at Fair Value	7,828	7,835
Cash Balance Plan \| Mutual funds-equity
Defined Benefit Plans
Assets at Fair Value	13,329	11,753
Cash Balance Plan \| Mutual funds-equity \| Level 1
Defined Benefit Plans
Assets at Fair Value	$ 13,329	$ 11,753

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
Related Party Transactions (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Management, including directors and senior officers and certain of their affiliates
Related party activity
Loans receivable, related party	$ 1,220,000	$ 1,210,000
Directors and senior officers
Related party activity
Advances, related party	437,000
Repayments, related party	424,000
Deposits, related party	$ 6,220,000	$ 4,910,000

Share-Based Plans - Restricted

Share-Based Plans - Restricted Stock Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Shares
Unvested, beginning of period (in shares)	135,694
Unvested, end of period (in shares)	119,778	135,694
Restricted Stock
Shares
Unvested, beginning of period (in shares)	135,694	145,677	140,577
Granted (in shares)	32,320	36,945	36,435
Vested (in shares)	(46,801)	(43,383)	(26,200)
Forfeited (in shares)	(1,435)	(3,545)	(5,135)
Unvested, end of period (in shares)	119,778	135,694	145,677
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share)	$ 52.13	$ 48.88	$ 48.57
Granted (in dollars per share)	60.15	62.87	54.18
Vested (in dollars per share)	51.39	50.59	54.73
Forfeited (in dollars per share)	53.69	49.37	48.28
Unvested, end of period (in dollars per share)	$ 54.56	$ 52.13	$ 48.88
Additional information
Fair value of shares vested	$ 2,730	$ 2,520	$ 1,390
Compensation expense	1,920	1,990	1,970
Compensation expense after tax	1,290	$ 1,350	$ 1,420
Unrecognized compensation expense	$ 3,650
Weighted average period	3 years
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

Regulatory Requirements and R_3

Regulatory Requirements and Restrictions - Capital Amounts and Ratios (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Regulatory requirements
Risk-weighted assets	$ 2,130,000	$ 1,950,000
Total Capital (to Risk-Weighted Assets)
Actual (in Dollars)	$ 299,157	$ 289,396
Actual	0.141	0.148
Minimum capital requirements (in Dollars)	$ 170,256	$ 155,927
Minimum capital requirements	0.08	0.08
Tier 1 Capital (to Risk-Weighted Assets)
Actual (in Dollars)	$ 252,373	$ 244,830
Actual	0.119	0.126
Minimum capital requirements (in Dollars)	$ 127,692	$ 116,945
Minimum capital requirements	0.06	0.06
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual (in Dollars)	$ 227,373	$ 219,830
Actual	0.107	0.113
Minimum capital requirements (in Dollars)	$ 95,769	$ 87,709
Minimum capital requirements	0.045	0.045
Tier 1 Capital (to Average Tangible Assets)
Actual (in Dollars)	$ 252,373	$ 244,830
Actual	0.098	0.101
Minimum capital requirements (in Dollars)	$ 102,645	$ 97,449
Minimum capital requirements	0.04	0.04
C&F Bank
Regulatory requirements
Risk-weighted assets	$ 2,100,000	$ 1,920,000
Total Capital (to Risk-Weighted Assets)
Actual (in Dollars)	$ 284,550	$ 271,952
Actual	0.135	0.141
Minimum capital requirements (in Dollars)	$ 168,233	$ 153,816
Minimum capital requirements	0.08	0.08
Minimum to be well capitalized under prompt corrective action provisions (in Dollars)	$ 210,291	$ 192,270
Minimum to be well capitalized under prompt corrective action provisions	0.10	0.10
Tier 1 Capital (to Risk-Weighted Assets)
Actual (in Dollars)	$ 258,078	$ 247,712
Actual	0.123	0.129
Minimum capital requirements (in Dollars)	$ 126,175	$ 115,362
Minimum capital requirements	0.06	0.06
Minimum to be well capitalized under prompt corrective action provisions (in Dollars)	$ 168,233	$ 153,816
Minimum to be well capitalized under prompt corrective action provisions	0.08	0.08
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual (in Dollars)	$ 258,078	$ 247,712
Actual	0.123	0.129
Minimum capital requirements (in Dollars)	$ 94,631	$ 86,522
Minimum capital requirements	0.045	0.045
Minimum to be well capitalized under prompt corrective action provisions (in Dollars)	$ 136,689	$ 124,976
Minimum to be well capitalized under prompt corrective action provisions	0.065	0.065
Tier 1 Capital (to Average Tangible Assets)
Actual (in Dollars)	$ 258,078	$ 247,712
Actual	0.101	0.103
Minimum capital requirements (in Dollars)	$ 101,805	$ 96,655
Minimum capital requirements	0.04	0.04
Minimum to be well capitalized under prompt corrective action provisions (in Dollars)	$ 127,256	$ 120,819
Minimum to be well capitalized under prompt corrective action provisions	0.05	0.05

Regulatory Requirements and R_4

Regulatory Requirements and Restrictions - New minimum capital ratios (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Regulatory requirements
Capital conservation buffer requirement	2.50%
2030 Subordinated Notes \| Subordinated Notes
Regulatory requirements
Corporation repaid	$ 4,000
C&F Bank
Regulatory requirements
Capital conservation buffer requirement	7%
Total capital conservation buffer exceeded	10.50%
Tier 1 capital conservation buffer exceeded	8.50%

Regulatory Requirements and R_5

Regulatory Requirements and Restrictions - Trust Preferred Securities (Details) - Trust Preferred Securities Subject to Mandatory Redemption - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2007
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Securities issued		$ 25,000
Securities included in Tier One Capital	$ 25,000

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Loan Commitments (Details) - C&F Bank - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Standby Letters of Credit
Commitments and Contingent Liabilities
Face amount of asset	$ 18,790	$ 7,910
Loan commitments
Commitments and Contingent Liabilities
Face amount of asset	$ 469,770	$ 413,530

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Corporation's Reserve for Unfunded Commitments for the Periods Indicated (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingent Liabilities
Beginning balance	$ 1,650
Provision charged to operations	150	$ 149
Ending balance	1,800	1,650
Impact of ASC 326
Commitments and Contingent Liabilities
Beginning balance	$ 1,501
Ending balance		$ 1,501

Commitments and Contingent Li_5

Commitments and Contingent Liabilities - Other (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingent Liabilities
Provision for indemnifications	$ (460,000)	$ (585,000)	$ (858,000)
Indemnification reserve for recourse provisions
Commitments and Contingent Liabilities
Provision for indemnifications	(460,000)	(585,000)	(858,000)
Allowance for indemnifications	$ 1,349,000	$ 1,809,000	$ 2,394,000	$ 3,252,000
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

Commitments and Contingent Li_6

Commitments and Contingent Liabilities - Changes in Allowance for Indemnifications Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in the allowance for indemnification losses
Net reversal of provision for indemnification losses	$ (460,000)	$ (585,000)	$ (858,000)
Indemnification reserve for recourse provisions
Change in the allowance for indemnification losses
Allowance, beginning of period	1,809,000	2,394,000	3,252,000
Net reversal of provision for indemnification losses	(460,000)	(585,000)	(858,000)
Allowance, end of period	$ 1,349,000	$ 1,809,000	$ 2,394,000

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities - Investments in Other investment company funds (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value of Assets and Liabilities
Fair value of investment in Other investments companies	$ 1,660,000	$ 1,930,000
Unrealized gains or losses	(273,000)	344,000
Fair value of investments	4,170,000	3,750,000
Unrealized gains from change in fair value of investments	$ 687,000	$ 333,000

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	Dec. 31, 2024	Dec. 31, 2023
Securities available for sale
Securities available for sale	$ 418,625	$ 462,444
Other investments	4,170	3,750
Interest rate swaps on loans \| Cash flow hedges
Securities available for sale
Derivatives	1,169	1,415
Recurring
Securities available for sale
Securities available for sale	418,625	462,444
Loans held for sale	20,112	14,176
Other investments	4,167	3,751
Total assets	449,294	488,231
Liabilities:
Total liabilities	4,636	6,110
Recurring \| Cash flow hedges
Securities available for sale
Derivatives	1,169	1,415
Recurring \| IRLC
Securities available for sale
Derivatives	585	335
Recurring \| Interest rate swaps on loans
Securities available for sale
Derivatives	4,636	6,110
Liabilities:
Derivatives	4,636	6,110
Level 2 \| Recurring
Securities available for sale
Securities available for sale	418,625	462,444
Loans held for sale	20,112	14,176
Other investments	4,167	3,751
Total assets	449,294	488,231
Liabilities:
Total liabilities	4,636	6,110
Level 2 \| Recurring \| Cash flow hedges
Securities available for sale
Derivatives	1,169	1,415
Level 2 \| Recurring \| IRLC
Securities available for sale
Derivatives	585	335
Level 2 \| Recurring \| Interest rate swaps on loans
Securities available for sale
Derivatives	4,636	6,110
Liabilities:
Derivatives	4,636	6,110
U.S. Treasury securities
Securities available for sale
Securities available for sale	10,700	45,103
U.S. Treasury securities \| Recurring
Securities available for sale
Securities available for sale	10,700	45,103
U.S. Treasury securities \| Level 2 \| Recurring
Securities available for sale
Securities available for sale	10,700	45,103
U.S. government agencies and corporations
Securities available for sale
Securities available for sale	60,659	87,094
U.S. government agencies and corporations \| Recurring
Securities available for sale
Securities available for sale	60,659	87,094
U.S. government agencies and corporations \| Level 2 \| Recurring
Securities available for sale
Securities available for sale	60,659	87,094
Mortgage-backed securities
Securities available for sale
Securities available for sale	182,436	161,696
Mortgage-backed securities \| Recurring
Securities available for sale
Securities available for sale	182,436	161,696
Mortgage-backed securities \| Level 2 \| Recurring
Securities available for sale
Securities available for sale	182,436	161,696
Obligations of states and political subdivisions
Securities available for sale
Securities available for sale	143,610	147,111
Obligations of states and political subdivisions \| Recurring
Securities available for sale
Securities available for sale	143,610	147,111
Obligations of states and political subdivisions \| Level 2 \| Recurring
Securities available for sale
Securities available for sale	143,610	147,111
Corporate and other debt securities
Securities available for sale
Securities available for sale	21,220	21,440
Corporate and other debt securities \| Recurring
Securities available for sale
Securities available for sale	21,220	21,440
Corporate and other debt securities \| Level 2 \| Recurring
Securities available for sale
Securities available for sale	$ 21,220	$ 21,440

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned, net	$ 1,316,000	$ 0
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned, net	1,316,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned, net	1,316,000
Level 3 \| Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned, net	$ 1,316,000

Fair Value of Assets and Liab_6

Fair Value of Assets and Liabilities - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Securities available for sale	$ 418,625	$ 462,444
Other investments	4,170	3,750
Bank-owned life insurance	21,191	21,464
Carrying Value
Assets:
Cash and short-term investments	66,853	77,403
Securities available for sale	418,625	462,444
Loans, net	1,880,311	1,702,488
Loans held for sale	20,112	14,176
Other investments	4,167	3,751
Bank-owned life insurance	21,191	21,464
Accrued interest receivable	10,592	10,398
Financial liabilities:
Demand and savings deposits	1,352,531	1,392,931
Time deposits	818,329	673,199
Borrowings	114,440	103,618
Accrued interest payable	4,403	3,493
Total Fair Value
Assets:
Cash and short-term investments	66,851	77,403
Securities available for sale	418,625	462,444
Loans, net	1,838,887	1,643,462
Loans held for sale	20,112	14,176
Other investments	4,167	3,751
Bank-owned life insurance	21,191	21,464
Accrued interest receivable	10,592	10,398
Financial liabilities:
Demand and savings deposits	1,352,531	1,392,931
Time deposits	819,276	668,965
Borrowings	105,533	90,120
Accrued interest payable	4,403	3,493
Total Fair Value \| Level 1
Assets:
Cash and short-term investments	65,586	75,159
Accrued interest receivable	10,592	10,398
Financial liabilities:
Demand and savings deposits	1,352,531	1,392,931
Accrued interest payable	4,403	3,493
Total Fair Value \| Level 2
Assets:
Cash and short-term investments	1,265	2,244
Securities available for sale	418,625	462,444
Loans held for sale	20,112	14,176
Other investments	4,167	3,751
Bank-owned life insurance	21,191	21,464
Financial liabilities:
Time deposits	819,276	668,965
Borrowings	105,533	90,120
Total Fair Value \| Level 3
Assets:
Loans, net	1,838,887	1,643,462
IRLC \| Carrying Value
Assets:
Derivatives	585	335
IRLC \| Total Fair Value
Assets:
Derivatives	585	335
IRLC \| Total Fair Value \| Level 2
Assets:
Derivatives	585	335
Interest rate swaps on loans \| Carrying Value
Assets:
Derivatives	4,636	6,110
Financial liabilities:
Derivatives	4,636	6,110
Interest rate swaps on loans \| Total Fair Value
Assets:
Derivatives	4,636	6,110
Financial liabilities:
Derivatives	4,636	6,110
Interest rate swaps on loans \| Total Fair Value \| Level 2
Assets:
Derivatives	4,636	6,110
Financial liabilities:
Derivatives	4,636	6,110
Cash flow hedges \| Carrying Value
Assets:
Derivatives	1,169	1,415
Cash flow hedges \| Total Fair Value
Assets:
Derivatives	1,169	1,415
Cash flow hedges \| Total Fair Value \| Level 2
Assets:
Derivatives	1,169	1,415
Cash flow hedges \| Interest rate swaps on loans
Assets:
Derivatives	$ 1,169	$ 1,415

Business Segments - Segment Rep

Business Segments - Segment Reporting (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Segments
Number of principal business segments \| segment	3
Interest income	$ 139,594	$ 124,137	$ 101,354
Interest expense	42,819	26,430	7,890
Net interest income before allocation	96,775	97,707	93,464
Net interest income	96,775	97,707	93,464
Gains on sales of loans	6,064	5,780	7,498
Other noninterest income	24,474	23,835	21,714
Net revenue	127,313	127,322	122,676
Provision for loan losses	13,250	8,275	3,172
Salaries and employee benefits	53,578	54,876	47,867
Occupancy expense	8,397	7,993	8,564
Data processing	11,314	10,874	10,514
Professional fees	3,611	2,752	2,767
Insurance expense	1,832	1,659	1,049
Marketing and advertising expenses	1,213	1,548	1,805
Loan processing and collection expenses	2,661	3,317	3,978
Provision for indemnifications	(460)	(585)	(858)
Other segment items	7,784	7,449	6,854
Total noninterest expenses	89,930	89,883	82,540
Income before income taxes	24,133	29,164	36,964
Income tax expense (benefit)	4,215	5,418	7,595
Net income	19,918	23,746	29,369
Total assets	2,563,374	2,438,498	2,332,317
Total loans held for investment, net	1,880,311	1,702,488	1,595,200
Total deposits	2,170,860	2,066,130	2,003,860
Capital expenditures	3,486	1,459	3,348
Depreciation and amortization	3,857	3,879	4,356
Operating Segments \| Community Banking
Business Segments
Interest income	87,600	74,949	56,782
Interest expense	40,498	24,184	5,532
Net interest income before allocation	47,102	50,765	51,250
Net interest allocation	24,456	23,438	15,786
Net interest income	71,558	74,203	67,036
Other noninterest income	17,723	16,465	19,250
Net revenue	89,281	90,668	86,286
Provision for loan losses	1,650	1,625	(600)
Salaries and employee benefits	36,252	36,004	33,770
Occupancy expense	6,887	6,354	6,633
Data processing	8,927	8,564	7,889
Professional fees	2,834	2,149	2,121
Insurance expense	1,575	1,396	858
Marketing and advertising expenses	748	1,075	1,185
Loan processing and collection expenses	256	248	199
Other segment items	5,395	5,023	4,063
Total noninterest expenses	62,874	60,813	56,718
Income before income taxes	24,757	28,230	30,168
Income tax expense (benefit)	4,473	5,302	5,794
Net income	20,284	22,928	24,374
Total assets	2,449,641	2,319,810	2,206,299
Total loans held for investment, net	1,436,226	1,257,557	1,145,940
Total deposits	2,186,139	2,084,327	2,029,951
Capital expenditures	3,101	1,301	3,265
Depreciation and amortization	$ 3,433	$ 3,402	$ 3,720
Other segment items for reportable segments	Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses and expense, net periodic pension cost, office supplies, and certain overhead expenses.	Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses expense, net periodic pension cost, office supplies, and certain overhead expenses.	Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses and expense, net periodic pension cost, office supplies, and certain overhead expenses.
Operating Segments \| Mortgage Banking
Business Segments
Interest income	$ 1,897	$ 1,695	$ 2,036
Net interest income before allocation	1,897	1,695	2,036
Net interest allocation	(796)	(612)	(662)
Net interest income	1,101	1,083	1,374
Gains on sales of loans	6,421	5,845	7,963
Other noninterest income	4,602	4,353	4,856
Net revenue	12,124	11,281	14,193
Provision for loan losses			32
Salaries and employee benefits	7,069	6,996	7,599
Occupancy expense	890	1,005	1,271
Data processing	1,012	1,008	1,137
Professional fees	103	101	180
Insurance expense	111	128	61
Marketing and advertising expenses	426	428	518
Loan processing and collection expenses	917	1,047	1,683
Provision for indemnifications	(460)	(585)	(858)
Other segment items	528	560	989
Total noninterest expenses	10,596	10,688	12,580
Income before income taxes	1,528	593	1,581
Income tax expense (benefit)	420	128	371
Net income	1,108	465	1,210
Total assets	29,837	22,177	24,500
Total loans held for investment, net			671
Capital expenditures	210	12	66
Depreciation and amortization	$ 86	$ 79	$ 226
Other segment items for reportable segments	Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses.	Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses.	Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses.
Operating Segments \| Consumer Finance.
Business Segments
Interest income	$ 49,684	$ 47,264	$ 42,441
Net interest income before allocation	49,684	47,264	42,441
Net interest allocation	(23,660)	(22,826)	(15,124)
Net interest income	26,024	24,438	27,317
Other noninterest income	1,024	962	1,050
Net revenue	27,048	25,400	28,367
Provision for loan losses	11,600	6,650	3,740
Salaries and employee benefits	8,026	8,732	8,939
Occupancy expense	620	634	660
Data processing	1,328	1,280	1,458
Professional fees	312	310	267
Insurance expense	146	135	130
Marketing and advertising expenses	39	45	102
Loan processing and collection expenses	1,488	2,022	2,096
Other segment items	1,577	1,658	1,632
Total noninterest expenses	13,536	14,816	15,284
Income before income taxes	1,912	3,934	9,343
Income tax expense (benefit)	498	1,055	2,512
Net income	1,414	2,879	6,831
Total assets	472,672	476,671	479,864
Total loans held for investment, net	444,085	444,931	448,589
Capital expenditures	175	146	17
Depreciation and amortization	$ 338	$ 398	$ 410
Other segment items for reportable segments	Consumer finance – licenses and taxes other expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses.	Consumer finance – licenses and other taxes expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses.	Consumer finance – licenses and taxes other expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses.
Operating Segments \| Other
Business Segments
Interest expense	$ 2,321	$ 2,246	$ 2,358
Net interest income before allocation	(2,321)	(2,246)	(2,358)
Net interest income	(2,321)	(2,246)	(2,358)
Other noninterest income	1,363	2,257	(3,230)
Net revenue	(958)	11	(5,588)
Salaries and employee benefits	2,231	3,144	(2,441)
Data processing	47	22	30
Professional fees	362	192	199
Other segment items	350	267	230
Total noninterest expenses	2,990	3,625	(1,982)
Income before income taxes	(3,948)	(3,614)	(3,606)
Income tax expense (benefit)	(1,152)	(1,066)	(973)
Net income	(2,796)	(2,548)	(2,633)
Total assets	31,823	35,581	43,241
Eliminations
Business Segments
Interest income	413	229	95
Net interest income before allocation	413	229	95
Net interest income	413	229	95
Gains on sales of loans	(357)	(65)	(465)
Other noninterest income	(238)	(202)	(212)
Net revenue	(182)	(38)	(582)
Other segment items	(66)	(59)	(60)
Total noninterest expenses	(66)	(59)	(60)
Income before income taxes	(116)	21	(522)
Income tax expense (benefit)	(24)	(1)	(109)
Net income	(92)	22	(413)
Total assets	(420,599)	(415,741)	(421,587)
Total deposits	$ (15,279)	$ (18,197)	$ (26,091)

Business Segments - Other (Deta

Business Segments - Other (Details)	12 Months Ended
Business Segments - Other (Details)	Dec. 31, 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%

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 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	1,169	1,415
Matched interest rate swap with borrower \| Not designated as hedges
Derivatives and other information
Notional amount	77,820	109,638
Derivative Asset		1,611
Derivative Liability	4,636	4,499
Matched interest rate swaps with counterparty \| Not designated as hedges
Derivatives and other information
Notional amount	77,820	109,638
Derivative Asset	4,636	4,499
Derivative Liability		1,611
IRLC \| Not designated as hedges
Derivatives and other information
Notional amount	39,291	26,152
Derivative Asset	585	335
Mortgage Banking \| Best-efforts forward sales contracts
Derivatives and other information
Impaired loans, Unpaid Principal Balance	20,110	14,180
Mortgage loans	59,400	40,330
Mortgage Banking \| IRLC
Derivatives and other information
IRLCs	$ 39,290	$ 26,150

Holding Company Condensed Fin_3

Holding Company Condensed Financial Information - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets
Other assets.	$ 57,874	$ 62,201
Total assets	2,563,374	2,438,498	$ 2,332,317
Liabilities and shareholders' equity
Trust preferred capital notes	25,457	25,422
Long-term borrowings	60,000
Other liabilities	38,532	41,820
Equity	226,360	216,878
Total liabilities and equity	2,563,374	2,438,498
C&F Financial Corporation \| Reportable Legal Entities
Assets
Cash	10,513	13,467	$ 22,094	$ 20,584
Other assets.	21,901	22,210
Investment in C&F Bank	255,803	243,409
Total assets	288,217	279,086
Liabilities and shareholders' equity
Trust preferred capital notes	25,457	25,422
Long-term borrowings	19,989	19,973
Other liabilities	16,411	16,813
Equity	226,360	216,878
Total liabilities and equity	$ 288,217	$ 279,086

Holding Company Condensed Fin_4

Holding Company Condensed Financial Information - Condensed Statements of Income and Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF INCOME
Interest expense on borrowings	$ (3,429)	$ (4,850)	$ (1,502)
Other expenses	(89,930)	(89,883)	(82,540)
Net income	19,918	23,746	29,369
Other comprehensive income (loss), net of tax	2,083	10,271	(34,871)
Comprehensive income (loss)	22,001	34,017	(5,502)
C&F Financial Corporation \| Reportable Legal Entities
CONSOLIDATED STATEMENTS OF INCOME
Interest expense on borrowings	(2,321)	(2,246)	(2,358)
Dividends received from C&F Bank	12,500	10,600	12,500
Equity in undistributed net income of C&F Bank	10,130	15,552	19,292
Other income	1,363	2,257	(3,230)
Other expenses	(1,838)	(2,559)	2,955
Net income	19,834	23,604	29,159
Other comprehensive income (loss), net of tax	2,083	10,271	(34,871)
Comprehensive income (loss)	$ 21,917	$ 33,875	$ (5,712)

Holding Company Condensed Fin_5

Holding Company Condensed Financial Information - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statements of Cash Flows
Net cash provided by operating activities	$ 38,488	$ 38,811	$ 90,559
Investing activities:
Swap collateral, net			3,880
Net cash used in investing activities	(148,640)	(56,339)	(411,279)
Financing activities:
Repayments of long-term borrowings		(4,000)
Common stock repurchases	(8,761)	(7,758)	(5,373)
Cash dividends	(5,780)	(5,986)	(5,756)
Other financing activities, net	(382)	(132)	(338)
Net cash provided by financing activities	100,579	66,026	79,636
Net (decrease) increase in cash and cash equivalents	(9,573)	48,498	(241,084)
C&F Financial Corporation \| Reportable Legal Entities
Statements of Cash Flows
Net cash provided by operating activities	11,404	8,926	9,750
Investing activities:
Swap collateral, net			2,705
Net cash used in investing activities			2,705
Financing activities:
Repayments of long-term borrowings		(4,000)
Common stock repurchases	(8,761)	(7,758)	(5,373)
Cash dividends	(5,780)	(5,986)	(5,756)
Other financing activities, net	183	191	184
Net cash provided by financing activities	(14,358)	(17,553)	(10,945)
Net (decrease) increase in cash and cash equivalents	(2,954)	(8,627)	1,510
Cash at beginning of year	13,467	22,094	20,584
Cash at end of year	$ 10,513	$ 13,467	$ 22,094

Other Noninterest Expenses (Det

Other Noninterest Expenses (Details) - USD ($)	12 Months Ended
Other Noninterest Expenses (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Noninterest Expenses.
Telecommunication expenses	$ 1,529,000	$ 1,330,000	$ 1,368,000
Postage and courier expenses	1,049,000	994,000	881,000
Licenses and taxes expense	1,004,000	918,000	975,000
Travel and educational expenses	994,000	1,272,000	1,393,000
Other real estate owned losses and expenses, net	218,000	0	2,000
Other components of net periodic pension cost	(532,000)	(452,000)	(1,198,000)
Provision for indemnifications	(460,000)	(585,000)	(858,000)
All other noninterest expenses	3,522,000	3,387,000	3,433,000
Total other noninterest expenses	$ 7,324,000	$ 6,864,000	$ 5,996,000