C&F Financial Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the corporation reported net income of $2.3 million or $0.68 per common share assuming dilution, compared with $2.4 million, or $0.71 per common share assuming dilution, for the fourth quarter of 2014. ROE and ROA, on an annualized basis, were 7.07% and 0.67%, respectively, compared to 7.82% and 0.73% respectively, for the fourth quarter of 2014. The decline in ROE for the fourth quarter of 2015, compared to the fourth quarter of 2014, resulted from internal capital growth of 5.5% and a small decline in earnings. The decline in ROA for both the year and fourth quarter of 2015, compared to the same periods in 2014, resulted from increases in average assets that were primarily due to the 7.0% and 4.7% increases, respectively, in average loans, while earnings remained fairly comparable. Interest income was $22,118,000 against $21,651,000 a year ago. Adjusted net interest income was $20,435,000 against $20,176,000 a year ago. Net interest income was $19,890,000 against $19,603,000 a year ago. Book value per common share as on December 31, 2015 was $38.12 against $36.09 as on December 31, 2014.

For the year, the company reported net income of $12.5 million or $3.68 per common share assuming dilution compared with $12.3 million, or $3.59 per common share assuming dilution, for the year ended December 31, 2014. Return on average common equity and return on average assets were 9.87% and 0.92%, respectively, compared to a 10.32% ROE and a 0.93% ROA for the year ended December 31, 2014. The decline in ROE for the year ended December 31, 2015, compared to the year ended December 31, 2014, resulted from internal capital growth of 6.1%, which outpaced earnings growth. Interest income was $87,049,000 against $86,495,000 a year ago. Adjusted net interest income was $80,574,000 against $80,285,000 a year ago. Net interest income was $78,355,000 against $77,970,000 a year ago.