An old charter, a different business
CFBank’s roots reach back to 1892 and the Central Federal Savings and Loan Association of Wellsville. The institution later used the Central Federal Bank name. On December 1, 2016, it converted from a federal savings institution into a national bank. Its parent, formerly Central Federal Corporation, became CF Bankshares Inc. in July 2020. Those name and charter changes form a continuing institutional history, not evidence of several unrelated banks. [3]
The present legal bank is CFBank, National Association, certificate 28263 and OCC charter 25137, headquartered in Columbus. The FDIC’s October 2, 2026 institution index identifies it as active and insured. The bank is separate from its listed parent: a deposit customer has a claim against the bank, while a shareholder owns a claim on the parent company’s residual value. [1]
Regulatory intervention preceded the turnaround
In May 2011, the Office of Thrift Supervision issued a cease-and-desist order with the bank’s consent. Its findings described excessive adversely classified assets and earnings inadequate to build capital. The order required changes addressing capital, business planning and problem assets. This was a formal supervisory intervention in the thrift’s operations, not simply a disappointing earnings release. It provides necessary context for what management did next. [4]
In 2012, the parent raised $22.5 million in a stock offering. Its annual report described a new management team, work on problem credits and back-office operations, and a shift toward serving closely held businesses and their owners. Raising equity brought in money that could absorb losses and support lending; changing the customer focus addressed the business the rebuilt institution intended to pursue. The strategy and claimed progress were management’s account. [5]
The following annual report records a $13.5 million capital contribution to the bank from the offering proceeds. Other proceeds redeemed the parent’s federal rescue-program obligations or stayed at the parent for corporate purposes. The full $22.5 million therefore should not be described as new capital placed directly into the bank. [6]
The OCC terminated the 2011 cease-and-desist order effective January 23, 2014. That official termination is a separate event from the original findings and the intervening capital raise. The old order should not be presented as an outstanding 2026 restriction. Its termination also does not establish that every later risk disappeared. [7]
The business bank that emerged
CFBank now describes a regional presence in Columbus, Cleveland, Cincinnati, Akron and Indianapolis. Its products include commercial loans and equipment leases, commercial and residential property finance, personal banking and treasury services. The bank calls its approach boutique banking, emphasizing access to decision-makers and tailored service. That is a description of its chosen customer proposition, not an independently verified ranking or an assurance of better outcomes than competing lenders. [8]
Treasury management connects that proposition to the everyday finances of a business. The bank offers online access to multiple accounts, outgoing-payment tools, receivables processing and fraud-prevention services. A company can need a loan occasionally but need to collect customer money and pay suppliers every day. Combining those activities creates an ongoing banking relationship and makes dependable account controls important to both parties. [9]
A larger loan book, with higher nonaccrual balances
At June 30, 2026, CFBank reported $2.167 billion in assets, $1.832 billion in deposits, $1.803 billion in net loans and leases, and $246.1 million in equity. A year earlier, assets were $2.131 billion, deposits $1.811 billion and net loans $1.756 billion. First-half bank net income increased to $12.8 million from $10.9 million. These FDIC amounts are bank-only, converted from thousands. [2]
Nonaccrual loans rose from $16.6 million to $20.8 million. Real-estate-secured loans were $1.439 billion and commercial and industrial loans $378.8 million. The figures show the scale of the commercial and property business but do not reveal each borrower’s risk or eventual recovery. Net loans are after the loss allowance; nonaccrual status indicates suspended ordinary interest recognition rather than a completed . [2]
Why deposits remain part of the strategy
In its July 28, 2026 release, the parent reported quarterly net income of $5.9 million and a 2.93% net interest margin. Management said it was growing commercial banking while reducing low-rate residential mortgages, and seeking lower-cost business deposits. It also said increasingly competitive loan pricing had led it to set corresponding deposit requirements for borrowers. These were management’s stated actions and expectations, not a forecast independently verified here. [10]
The release disclosed that a commercial loan’s early repayment generated $370,000 of penalty-fee income, adding seven to the quarter’s margin. That detail matters when comparing periods: some improvement came from a specific repayment event. The reported margin cannot automatically be treated as a recurring run rate stripped of one-time effects. [10]
The link between the past and the present
A business-bank model needs both credit expertise and funding that is economical enough to support the loans. A loan that earns a low fixed rate can constrain earnings if deposits become more expensive; a higher-yielding business loan can carry more borrower-specific uncertainty. The historical recovery explains how the institution reached its current form, but it cannot guarantee future results. Public reports do not establish the stability of every large deposit or the recoverability of each troubled loan.
Sources
- FDIC institution record; October 2, 2026 index, checked October 6Official sourceBack to text: ↑
- FDIC bank financials; June 30, 2026 and 2025, dollars in thousands; income year to dateOfficial sourceBack to text: ↑1↑2
- CF Bankshares 2021 Form 10-K; bank origins and 2016 charter conversionFiling / reportBack to text: ↑
- Office of Thrift Supervision cease-and-desist order, May 25, 2011Official source · PDFBack to text: ↑
- Central Federal Corporation 2012 annual report; recapitalization and business transitionFiling / reportBack to text: ↑
- Central Federal Corporation 2013 annual report; capital contribution and January 2014 order terminationFiling / reportBack to text: ↑
- OCC termination of CFBank’s 2011 order, effective January 23, 2014Official source · PDFBack to text: ↑
- CFBank regional presence and services; checked October 6, 2026SourceBack to text: ↑
- CFBank treasury management; checked October 6, 2026SourceBack to text: ↑
- CF Bankshares second-quarter results, July 28, 2026SourceBack to text: ↑1↑2