C&F Financial Q3 profit rises on loan growth
CFFI•C&F Financial's third-quarter net income rose 16% year over year to $8.26 million, while basic EPS increased to $2.55 from $2.18 and beat the $2.46 estimate.
1. Loan growth lifts profit
C&F Financial said higher average loan balances, especially in commercial real estate and land acquisition, and a stronger net interest margin supported its third-quarter results. The company opened a loan production office in Lynchburg, Virginia, during the quarter.
2. No financial guidance
The company did not provide specific financial guidance for future quarters or the full year.
