C&F Financial Corporation reported unaudited earnings results for the fourth quarter and full year ended December 31, 2013. The company reported net income of $2.9 million or $0.81 per common share assuming dilution for the fourth quarter of 2013 compared with $3.9 million or $1.17 per common share assuming dilution for the fourth quarter of 2012. For the fourth quarter of 2013, the corporation's return on average common equity (ROE) and return on average assets (ROA), on an annualized basis, were 10.24% and 0.87%, respectively compared to 15.45% and 1.61%, respectively, for the fourth quarter of 2012. Net income available to common shareholders was $2.852 million against $3.888 million a year ago.

Net income was $14.4 million for the year ended December 31, 2013, compared with $16.4 million for the year ended December 31, 2012. Net income available to common shareholders for 2013 was $14.4 million or $4.18 per common share assuming dilution compared with $16.1 million or $4.86 per common share assuming dilution for 2012. For the year ended December 31, 2013, the corporation's ROE was 13.39% and its ROA was 1.35%, compared to a 17.05%, ROE and a 1.71% ROA for the year ended December 31, 2012. The decline in ROE and ROA during the three months and year ended December 31, 2013, compared to the same periods of 2012, resulted from capital and asset growth, including growth due to the acquisition described below, coupled with lower earnings during the comparative periods.