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C&F Financial Corporation Announces Third Quarter EPS of $.74

C&F Financial Corporation (Nasdaq: CFFI), the one-bank holding company for C&F Bank, today reported net income of $2.59 million for the third quarter of 2010, compared with $1.66 million for the third quarter of 2009. Net income available to common shareholders for the third quarter of 2010 was $2.30 million, or 74 cents per common share assuming dilution, compared with $1.37 million, or 45 cents per common share assuming dilution, for the third quarter of 2009.

The corporation's net income was $5.73 million for the first nine months of 2010, compared with $4.92 million for the first nine months of 2009. Net income available to common shareholders for the first nine months of 2010 was $4.87 million, or $1.57 per common share assuming dilution, compared with $4.08 million, or $1.34 per common share assuming dilution, for the first nine months of 2009.

For the third quarter of 2010, the corporation's return on average common equity and return on average assets, on an annualized basis, were 12.65 percent and 1.02 percent, respectively, compared to 8.14 percent and 0.63 percent, respectively, for the third quarter of 2009. For the first nine months of 2010, on an annualized basis, the corporation's return on average common equity was 9.19 percent and its return on average assets was 0.73 percent, compared to an 8.21 percent return on average common equity and a 0.62 percent return on average assets for the first nine months of 2009.

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