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Stock impact report

Central Federal Corporation Announces 1st Quarter 2019 Financial Results

CF Bankshares Inc. (CFBK) 
Company Research Source: PR Newswire
WORTHINGTON/COLUMBUS, Ohio, April 24, 2019 /PRNewswire/ -- Central Federal Corporation (NASDAQ: CFBK) (the "Company") today announced financial results for the first quarter ended March 31, 2019.First Quarter HighlightsNet income more than doubled (up 112%) when compared to the same quarter of 2018. Assets topped $700 million at March 31, 2019. Net gain on sales of loans increased by 388% due primarily to the investment in and expansion of our residential mortgage lending business. Net interest income increased $1.2 million, or 30% compared to the same quarter of 2018. Deposits increased by $52 million, or 9% during the quarter. We expanded our presence in the Cincinnati market, with the opening of our second branch location, and continue to gain business traction.Timothy T. O'Dell, President and CEO, commented, "We are pleased with our solid start, with first quarter earnings more than doubling the first quarter pace of 2018. This comes on top of 2018 in which earnings for the year i Show less Read more
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