CENTRAL FEDERAL CORPORATION (NASDAQ:CFBK) Files An 8-K Other EventsItem 8.01. Other Events.
On November 28, 2016, Central Federal Corporation (the “Company”) issued a press release announcing that the Company and its wholly-owned banking subsidiary, CFBank, have received the necessary regulatory approvals for CFBank to convert from a federal savings bank charter to a national bank charter and for the Company to become a financial holding company, effective as of December 1, 2016. A copy of the press release is included as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
(a) Not applicable
(b) Not applicable
(c) Not applicable
(d) Exhibits
99.1Press Release issued on November 28, 2016
About CENTRAL FEDERAL CORPORATION (NASDAQ:CFBK)
Central Federal Corporation is a holding company of CFBank. CFBank is a savings institution. The Company attracts retail and business deposits from the general public and use the deposits, together with borrowings and other funds, primarily to originate commercial and commercial real estate loans, single-family and multi-family residential mortgage loans and home equity lines of credit. The Company’s customers are small businesses, small business owners and consumers. The loan portfolio consists primarily of commercial, commercial real estate and multi-family mortgage loans, mortgage loans secured by single-family residences and consumer loans. Its primary sources of funds are retail and business deposit accounts and certificates of deposit, brokered certificates of deposit and, to a lesser extent, principal and interest payments on loans and securities, Federal Home Loan Bank (FHLB) advances, other borrowings and proceeds from the sale of loans. CENTRAL FEDERAL CORPORATION (NASDAQ:CFBK) Recent Trading Information
CENTRAL FEDERAL CORPORATION (NASDAQ:CFBK) closed its last trading session 00.00 at 1.45 with 600 shares trading hands.