C & F Financial reported consolidated net income of $8.6 million for Q2 2026, up 11.1% from $7.8 million in Q2 2025, and consolidated net income of $15.4 million for the first six months of 2026, up 17.2% year-over-year. Adjusted net income (excluding a Bearing equity-sale gain and a securities portfolio restructuring loss) was $7.883 million for Q2 2026, and adjusted diluted earnings per share were $2.40 for the quarter. Management cited strong community-banking loan growth, increased mortgage originations and margin expansion as drivers of improved adjusted results.

Financial Highlights

  • Consolidated net income (Q2 2026): $8.626 million (Q2 2025: $7.767 million).
  • Consolidated net income (six months ended 6/30/2026): $15.420 million (six months 2025: $13.162 million).
  • Adjusted net income (Q2 2026, excluding special items): $7.883 million; adjusted net income (six months): $14.677 million.
  • Earnings per share - basic and diluted (Q2 2026): $2.63; Adjusted earnings per share (Q2 2026): $2.40.
  • Net interest income (Q2 2026): $29.090 million; consolidated annualized net interest margin (Q2 2026): 4.41%.

Business Highlights

  • Community banking loans increased $125.9 million versus June 30, 2025 (and $65.9 million since December 31, 2025), driven by commercial real estate and land acquisition & development growth.
  • Mortgage banking originations rose to $233.7 million in Q2 2026 (up 9.5% year-over-year) with higher purchase activity and refinancings; mortgage lender services fees also increased due to higher industry volume.
  • Community banking completed sale of its membership interest in Bearing, producing a pre-tax gain, and executed a strategic securities portfolio restructuring (sold $72.6 million book value, purchased ~$67.8 million) to increase portfolio yield.
  • Opened a retail branch in Roanoke and expanded lending presence in Southwest Virginia; hired an experienced lender in Lynchburg in July 2026 to support western Virginia growth.
  • Consumer finance loan balances moderated (down ~1.0% vs. June 30, 2025) as the marine and recreational vehicle portfolio is being wound down; delinquency and charge-off trends showed portfolio mix effects but overall reserves remain intact.

Original SEC Filing:

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