CFC Quarterly Financial Performance
7.50%
6.25%
SEGMENT OVERVIEW
-
Credit Quality
Allowance for Loan Losses to Total Loans
CCBX partner agreements
provide for a credit
enhancement(¹) that covers
the net-charge-offs on CCBX
loans and negative deposit
accounts
5.00%
3.55%
3.75%
2.50%
2.11%
1.25%
-%
1.36%
June 30, 2022
Community Bank
5.87%
3.14%
6.96%
3.68%
1.24%
1.21%
March 31, 2023
June 30, 2023
― CCBX
Consolidated
CCBX partners were
responsible for and
reimbursed the Company for
97.0% of the $31.0 million in
net charge-offs for CCBX loans
for the quarter ended June 30,
2023
CCBX partners pledge a cash
reserve account at the Bank
which the Bank can collect
from when losses occur that is
then replenished by the
partner on a regular interval
(1) Except in accordance with the program agreement for one partner where the Company is responsible for credit losses on
approximately 10% of a $180.5 million loan portfolio. At June 30, 2023, 10% of this portfolio represented $18.0 million in loans.
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