CFC Quarterly Financial Performance
DEPOSIT COMPOSITION
Emphasis on core deposits has helped generate an
attractive funding mix
Core deposits are all deposits excluding time deposits and
brokered deposits
Core
Deposits
99.2%
Deposit Composition
•
Core deposits were 104.3% of total loans as of June 30, 2023
•
Core deposits were 99.2% of total deposits as of June 30, 2023
Noninterest bearing deposits of $725.6 million as of June 30,
2023
о
Community bank noninterest bearing deposits of $621.0
million, or 41.1% of community bank deposits and CCBX
noninterest bearing deposits of $104.6 million, or 6.3% of
CCBX deposits as of June 30, 2023
Cost of total deposits was 2.72% for the quarter ended June 30,
2023 compared to 2.13% for the quarter ended March 31, 2023,
and 0.25% for the quarter ended June 30, 2022
о
Cost of deposits for the community bank and CCBX were
0.98% and 4.42%, respectively for the quarter ended
June 30, 2023
·
NOW and money market
73.5%
Demand,
noninterest
bearing
22.9%
Savings
2.8%
Time deposits
< $100K
0.3%
Time deposits
> $100K
0.5%
Core Deposit Driven Funding
We continue to focus on managing our deposits to maintain low
deposit costs in this increasing rate environment
Core Deposits/Total Loans
(%)
Core Deposits/Total Deposits
(%)
104.3%
99.2%
•
•
•
No internet-sourced deposits through nonbrokered marketplaces
Ability to use funding from BaaS program and to transfer
deposits off the balance sheet when not needed.
$240.3 million in fully insured IntraFi network sweep deposits as
of June 30, 2023, compared to $94.3 million as of March 31,
2023.
Access to $9.9 million in CCBX deposits that are currently
transferred off the balance sheet as of June 30, 2023
Note: Data as of and for the quarter ended June 30, 2023 unless otherwise indicated.
77.0%
74.8%
December 31, 2013
June 30, 2023
December 31, 2013
June 30, 2023
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