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C & F Financial Executive Compensation (FY25)

CFFI · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): April 23, 2026
202 figures on this page: 191 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Total compensation for Thomas Cherry, President and Chief Executive Officer, came to $1,471,984 in fiscal 2025, and for fiscal 2025, the company reported a chief executive pay ratio of 19:1, against median employee compensation of $75,632. For fiscal 2025, shareholders backed the say-on-pay proposal with 99.3% of votes cast for or against in favor at the meeting held April 21, 2026. Companies named in the disclosed peer group include ACNB Corporation, Blue Ridge Bankshares, Inc., Capital Bancorp, Inc., Carter Bankshares, Inc. and Citizens & Northern Corporation, among others. For fiscal 2025, the company reported 5 named executive officers.
Chief executive, fiscal 2025
◇
Thomas Cherry
Latest say-on-pay support
=
April 21, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive of record: S. Dustin Crone → Thomas Cherry
Say-on-pay support: 96.4% → 99.3% (2.9 points higher)
CEO pay ratio: 21:1 → 19:1 (9.5% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is C & F Financial's chief executive and what were they paid?
Total compensation for Thomas Cherry, President and Chief Executive Officer, came to $1,471,984 in fiscal 2025.
What was C & F Financial's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 99.3% of votes cast for or against in favor at the meeting held April 21, 2026.
Which companies are in C & F Financial's peer group?
Companies named in the disclosed peer group include ACNB Corporation, Blue Ridge Bankshares, Inc., Capital Bancorp, Inc., Carter Bankshares, Inc. and Citizens & Northern Corporation, among others.
What is C & F Financial's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 19:1, against median employee compensation of $75,632.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Thomas Cherry
President/Chief Executive Officer
◇—◇—◇◇◇◇
Jason Long
Executive Vice President/Chief Financial Officer/Secretary
◇—◇—◇◇◇◇
S. Dustin Crone
President/Chief Executive Officer of C&F Finance Company
◇◇◇—◇—◇◇
John Seaman, III
Executive Vice President/Chief Credit Officer of C&F Bank
◇—◇—◇◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Jason Long
Executive Vice President/Chief Financial Officer/Secretary
◇—◇—◇◇◇◇
S. Dustin Crone
President/Chief Executive Officer of C&F Finance Company
◇—◇—◇—◇◇
John Seaman, III
Executive Vice President/Chief Credit Officer of C&F Bank
◇—◇—◇◇◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Thomas Cherry
President and Chief Executive Officer
◇—◇—◇◇◇◇
Jason Long
Executive Vice President, Chief Financial Officer and Secretary
◇—◇—◇◇◇◇
S. Dustin Crone
President and Chief Executive Officer of C&F Finance Company
◇—◇—◇—◇◇
Mark A. Fox
President and Chief Executive Officer of C&F Mortgage Corporation
◇—◇—◇—◇◇
John A. Seaman, III
Executive Vice President and Chief Credit Officer of C&F Bank
◇—◇—◇◇◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Jason E. LongRSU———◇——◇
Jason E. LongPSU—◇◇—◇—◇
John A. Seaman, IIIPSU—◇◇—◇—◇
John A. Seaman, IIIRSU———◇——◇
Mark A. FoxRSU———◇——◇
Mark A. FoxPSU—◇◇—◇—◇
S. Dustin CronePSU—◇◇—◇—◇
S. Dustin CroneRSU———◇——◇
Thomas F. CherryRSU———◇——◇
Thomas F. CherryPSU—◇◇—◇—◇
Fiscal 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
John SeamanRSU◇◇——
Thomas CherryRSU◇◇——
Jason LongRSU◇◇——
Mark FoxRSU◇◇——
S. CroneRSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
C. Elis Olsson
Lead independent director
◇◇———◇◇
D. Anthony Peay
◇◇———◇◇
J. P. Causey Jr
◇◇———◇◇
Elizabeth R. Kelley
◇◇———◇◇
Paul C. Robinson
◇◇———◇◇
Julie R. Agnew
◇◇———◇◇
James T. Napier
◇◇———◇◇
Jeffery O. Smith
◇◇———◇◇
George R. Sisson III
◇◇———◇◇
Audrey D. Holmes
◇◇———◇◇
Thomas F. Cherry, Larry G. Dillon and David H. Downs served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as Restricted Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • ACNB Corporation ACNB
  • Blue Ridge Bankshares, Inc. BRBS
  • Capital Bancorp, Inc. CBNK
  • Carter Bankshares, Inc. CARE
  • Citizens & Northern Corporation CZNC
  • Citizens Financial Services, Inc. CZFS
  • Eagle Financial Services, Inc. EFSI
  • First Community Bankshares, Inc. FCBC
  • First National Corporation FXNC
  • First United Corporation FUNC
  • Franklin Financial Services Corporation FRAF
  • FVCBankcorp, Inc. FVCB
  • HomeTrust Bancshares, Inc. HTB
  • John Marshall Bancorp, Inc. JMSB
  • LINKBANCORP, Inc. LNKB
  • Orrstown Financial Services, Inc. ORRF
  • Primis Financial Corporation FRST
  • SmartFinancial, Inc. SMBK
  • Southern First Bancshares, Inc. SFST

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 21, 2026=◇◇◇
2024April 15, 2025=◇◇◇
2023April 16, 2024=◇◇◇
2022April 18, 2023=◇◇◇
2021April 19, 2022=◇◇◇
2020April 20, 2021=◇◇◇
2019April 21, 2020=◇◇◇
2018April 16, 2019=◇◇◇
2017April 17, 2018=◇◇◇
2016April 18, 2017=◇◇◇
2015April 19, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact C & F Financial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where C & F Financial sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
202 figures on this page: 191 cited to the filing that reported them, 11 calculated from figures it prints.
191 cited to the filing
11 calculated from the filing

Documents cited

  1. 0000913341-26-000019
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0000913341-26-000015
    CEO Pay Ratio · Director Compensation · Director Compensation for 2025 · Grants of Plan-Based Awards · and 1 more section
  3. 0000913341-25-000024
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0000913341-25-000020
    Summary Compensation Table
  5. 0000913341-24-000020
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000913341-24-000015
    Summary Compensation Table
  7. 0000913341-23-000021
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0000913341-22-000023
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0000913341-21-000018
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0000913341-20-000030
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0000913341-19-000013
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0000913341-18-000025
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001558370-17-002751
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0000913341-16-000026
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “C & F Financial executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/CFFI (accessed 2026).
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Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Peers C & F Financial discloses

The companies named in CFFI's own disclosed peer group.

ACNB CorporationBlue Ridge Bankshares, Inc.Capital Bancorp, Inc.Carter Bankshares, Inc.Citizens & Northern CorporationCitizens Financial Services, Inc.Eagle Financial Services, Inc.First Community Bankshares, Inc.First United CorporationFranklin Financial Services CorporationFVCBankcorp, Inc.HomeTrust Bancshares, Inc.John Marshall Bancorp, Inc.LINKBANCORP, Inc.Orrstown Financial Services, Inc.Primis Financial CorporationSmartFinancial, Inc.Southern First Bancshares, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy