secwatch.observer — SEC 8-K summary
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Issuer:     CF BANKSHARES INC. (CFBK)
CIK:        0001070680
Form:       8-K
Filed at:   2024-04-15T23:59:59+00:00
Accession:  0001070680-24-000008
Event type: regulatory
Sentiment:  negative
Materiality: 0.65
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070680/000107068024000008/0001070680-24-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070680/000107068024000008/cfbk-20240415x8k.htm
  HTML page:      https://secwatch.observer/filing/0001070680-24-000008

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer