CF Bankshares discloses OCC 'Needs to Improve' CRA rating; details remediation efforts

CF BANKSHARES INC.

CFBank received 'Needs to Improve' CRA rating from OCC for 2020-2022, down from prior 'Satisfactory' in 2020.
Lending test rated 'Needs to Improve'; community development test rated 'Satisfactory'.
By 2023, LMI residential mortgage loans rose to 34.31% (vs 11.23% in 2020, 12.50% in 2021).
Initiatives include Low-Income Housing Credit Loan Program, rate reductions on loans <$150k, and Ohio Housing Finance Agency application.
Next OCC evaluation expected in 2026; company expects improvement but cannot assure outcome.

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