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CF Bankshares in Ohio shifts mortgage strategy

CF Bankshares in Columbus, Ohio, is no longer selling its mortgage originations to investors.


The $1.6 billion-asset company said in a press release Wednesday that it exited the business in the second quarter in favor of portfolio lending with servicing retained. 

The notional amount of mortgages sold fell to $9.4 million in the second quarter from $972 million a year earlier. The company recognized $121,000 in revenue from mortgage activities during the second quarter.

CF Bankshares also disclosed that it will incur $500,000 in expenses over the rest of this year tied to the conversion of its core processing platform. Most of the expenses will take place during the third quarter.

The company also said it opened a retail branch and began commercial banking operations in Indianapolis during the second quarter.

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The Bank Slate

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About the author

Paul Davis has 20+ years of experience following the banking industry. He is currently director of market intelligence at SRM, an advisory firm that operates in North America and Europe.

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