CF Bankshares Inc. Announces Stock Repurchase Program; Co May Repurchase Up To 250,000 Shares Of The Co's Outstanding Common Stock On Or Before June 30, 2024

CF Bankshares Inc. (NASDAQ:CFBK) (the "Company"), the parent of CFBank, announced today that the Board of Directors of CF Bankshares Inc. has authorized a new stock repurchase program pursuant to which the Company may repurchase up to 250,000 shares of the Company's outstanding common stock on or before June 30, 2024. Under the stock repurchase program, the Company may purchase shares of its common stock from time to time through various means, including open market transactions and privately negotiated transactions. Open market repurchases will be made in accordance with applicable securities laws and regulations, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and may be effected pursuant to Rule 10b5-1 under the Exchange Act. There is no guarantee as to the exact number or value of shares that will be repurchased by the Company. The manner, timing and amount of any stock repurchases will be determined by the Company's management in its discretion based on its evaluation of various factors, including the trading price of the Company's common stock, market and economic conditions, regulatory requirements and other corporate considerations. The repurchase program may be suspended or discontinued at any time.

Timothy T. O'Dell, President and CEO, commented "We believe our stock is a good value, and the Board's approval of this stock repurchase program reflects confidence in our Company's intrinsic value. Repurchasing stock underscores our commitment to enhancing shareholder value and demonstrates confidence in our business model."