Central Federal Corporation, Parent of CFBank, Provides 2020 Annual Stockholders Presentation
Ohio Pen/10061731

COLUMBUS, Ohio, May 29, 2020 /PRNewswire/ -- Central Federal Corporation (NASDAQ: CFBK) (the "Company"), the parent of CFBank, released a slide presentation in conjunction with its Annual Meeting of Stockholders held on May 27, 2020, to provide additional information regarding the Company's 2019 and first quarter 2020 financial performance and condition.  The slide presentation illustrates the growth in the Company's income, its continued strong credit quality and capital position and additional information regarding current conditions. Some highlights include:
  • Annual Income Before Income Taxes grew to $12.0 million in 2019, reflecting a five-year trend of continuous income growth from $1.3 million in 2015.  Noninterest income increased to $11.7 million in 2019 from $1.3 million in 2015.  Strong Credit Quality with nonperforming loans as a percentage of total loans of 0.10% at March 31, 2020.   Strong Capital Position of CFBank, with additional capital available if and when necessary from Holding Company sources.

The Company encourages you to view the complete slide presentation, which is available at: http://investor.cfbankonline.com/

About Central Federal Corporation and CFBank

Central Federal Corporation is a financial holding company that owns 100% of the stock of CFBank, National Association (CFBank), which was formed in Ohio in 1892 and converted from a federal savings association to a national bank on December 1, 2016. CFBank has a presence in four major metro Ohio markets – Columbus, Cleveland, Cincinnati and Akron- as well as its two branch locations in Columbiana County, Ohio.  Also, in March 2019, CFBank opened a branch location in Blue Ash, Ohio, which is its second location in the Cincinnati market.  CFBank provides personalized Business Banking products and services including commercial loans and leases, commercial and residential real estate loans and treasury management depository services.  In addition, CFBank also has a national residential lending platform.  As a full-service commercial bank, our business, along with our products and services, is focused on serving the banking and financial needs of closely held businesses.  Our business model emphasizes personalized service, customer access to decision makers, quick execution, and the convenience of online internet banking, mobile banking, remote deposit and corporate treasury management.  In addition, CFBank provides residential lending and full service retail banking services and products.

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Additional information about the Company and CFBank is available at www.CFBankOnline.com


This press release and other materials we have filed or may file with the Securities and Exchange Commission ("SEC") contain or may contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Reform Act of 1995, which are made in good faith by us. Forward-looking statements include, but are not limited to: (1) projections of revenues, income or loss, earnings or loss per common share, capital structure and other financial items; (2) plans and objectives of the management or Boards of Directors of Central Federal Corporation or CFBank; (3) statements regarding future events, actions or economic performance; and (4) statements of assumptions underlying such statements. Words such as "estimate," "strategy," "may," "believe," "anticipate," "expect," "predict," "will," "intend," "plan," "targeted," and the negative of these terms, or similar expressions, are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Various risks and uncertainties may cause actual results to differ materially from those indicated by our forward-looking statements, including, without limitation those risks detailed from time to time in our reports filed with the SEC, including those identified in "Item 1A. Risk Factors" of Part I of our Annual Report on Form 10-K filed with SEC for the year ended December 31, 2019, as supplemented by "Item 1A. Risk Factors" of Part II of the Quarterly Report on Form 10-Q filed with the SEC for the quarterly period ended March 31, 2020.

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

SOURCE Central Federal Corporation

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