CFBank, the wholly-owned banking subsidiary of CF Bankshares Inc. announced that it has completed the sale of its two Columbiana County, Ohio Branches to Consumers National Bank realizing a deposit premium of approximately $1.9 million. The sale involved the transfer of deposits totaling approximately $104 million and earning assets of approximately $28 million. The sale of the branches will allow CFBank to invest in the growth and expansion in its Metro markets, better fitting the CFBank Commercial Banking driven business model. In addition, CFBank expects this sale to positively impact its operations through increased efficiencies.
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CF Bankshares Inc. is a financial holding company that owns 100% of the stock of CFBank, National Association (CFBank). CFBank is a boutique Commercial bank headquartered in Columbus, Ohio. CFBank has focused on bettering the Ohio economy and serving the financial needs of closely held businesses since 1892. Over a century has passed, and yet, our focus remains the same: guide fellow Ohioans to financial stability and success with agility, ease, and care. CFBank grew from a Federal Savings Association to a National Bank in December of 2016. As CFBank has expanded, we have maintained our penchant for individualized service and direct customer access to decision makers. CFBank now has a presence in four major metro markets – Columbus, Cleveland, and Cincinnati, Ohio and Indianapolis, Indiana. In every location, CFBank provides commercial loans and leases, commercial and residential real estate loans and treasury management depository services, corporate treasury management, residential lending, and full-service retail banking services and products. CFBank is also glad to offer its clients the convenience of online internet banking, mobile banking, and remote deposit.
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