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C & F Financial Executive Compensation (FY25)

CFFI · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Thomas Cherry
Latest say-on-pay support
=
April 21, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 18, 2026Latest filing (8-K): April 23, 2026
15 filings cited on this page
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316 figures on this page: 305 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
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 total compensation — Thomas Cherry: $1,297,343 → $1,471,984 (13.5% higher)
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/Chief Executive Officer, came to $1,471,984 in fiscal 2025. Compared with the $1,297,343 reported for fiscal 2024, Cherry's total was 13.5% higher.
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 AmeriServ Financial, Inc., BayFirst Financial Corp., Blue Foundry Bancorp, Capital City Bank Group, Inc. and CB Financial Services, Inc., among others. The additional disclosed peer group names ACNB Corporation, Alabama, Blue Ridge Bankshares, Inc., Capital Bancorp, Inc. and Carter Bankshares, Inc., among others. The 2025 Compensation Benchmarking Peer Group includes 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 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Thomas Cherry
President/Chief Executive Officer
◇—◇—◇◇◇◇
S. Dustin Crone
President/Chief Executive Officer of C&F Finance Company
◇—◇—◇—◇◇
Bryan McKernon
President/Chief Executive Officer of C&F Mortgage Company
◇—◇—◇—◇◇
Jason Long
Executive Vice President/Chief Financial Officer/Secretary
◇◇◇—◇◇◇◇
Larry Dillon
Executive Chairman
◇—◇—◇◇◇◇
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
◇—◇—◇◇◇◇
Larry Dillon
Executive Chairman
◇—◇—◇◇◇◇
Fiscal 2024
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
◇—◇—◇—◇◇
Bryan McKernon
President/Chief Executive Officer of C&F Mortgage 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/Chief Executive Officer
◇—◇—◇◇◇◇
Jason Long
Executive Vice President/Chief Financial Officer/Secretary
◇—◇—◇◇◇◇
S. Dustin Crone
President/Chief Executive Officer of C&F Finance Company
◇—◇—◇—◇◇
Mark A. Fox
President/Chief Executive Officer of C&F Mortgage Company
◇—◇—◇—◇◇
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 2022, 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
Mark A. FoxRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Thomas CherryRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Jason LongRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
S. Dustin CronePSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
John A. Seaman, IIIPSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Jason Long
Executive Vice President/Chief Financial Officer/Secretary · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance base◇
Severance cash amount◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
John A. Seaman, III
Executive Vice President and Chief Credit Officer of C&F Bank · Terms as described in the company’s compensation discussion · citing a 2026 filing
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Mark A. Fox
President/Chief Executive Officer of C&F Mortgage Company · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance base◇
Severance cash amount◇
Change-in-control multiple◇
Change-in-control base◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
S. Dustin Crone
President/Chief Executive Officer of C&F Finance Company · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Thomas Cherry
President/Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance base◇
Severance cash amount◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇

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
◇◇———◇◇
Julie R. Agnew
◇◇———◇◇
Paul C. Robinson
◇◇———◇◇
James T. Napier
◇◇———◇◇
Jeffery O. Smith
◇◇———◇◇
Audrey D. Holmes
◇◇———◇◇
George R. Sisson III
◇◇———◇◇
David H. Downs, Thomas F. Cherry and Larry G. Dillon 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.
Earlier years 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.

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◇
Board meeting fee◇
Committee meeting fee◇
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
  • AmeriServ Financial, Inc. ASRV
  • BayFirst Financial Corp. BAFN
  • Blue Foundry Bancorp BLFY
  • Capital City Bank Group, Inc. CCBG
  • CB Financial Services, Inc. CBFV
  • CF Bankshares Inc. CFBK
  • Chain Bridge Bancorp Inc. CBNA
  • Civista Bancshares, Inc. CIVB
  • Colony Bankcorp, Inc. CBAN
  • F & M Bank Corp. FMBM
  • Farmers & Merchants Bancorp, Inc. FMAO
  • Fidelity D & D Bancorp, Inc. FDBC
  • LCNB Corp. LCNB
  • MainStreet Bancshares, Inc. MNSB
  • Meridian Corp. MRBK
  • MetroCity Bankshares, Inc. MCBS
  • Middlefield Banc Corp. MBCN
  • National Bankshares, Inc. NKSH
  • Norwood Financial Corp. NWFL
  • Ohio Valley Banc Corp. OVBC
  • Parke Bancorp, Inc. PKBK
  • Peoples Bancorp of North Carolina, Inc. PEBK
  • Princeton Bancorp, Inc. BPRN
  • Richmond Mutual Bancorporation, Inc. RMBI
  • SB Financial Group, Inc. SBFG
  • Virginia National Bankshares Corporation VABK
Additional disclosed peer group
  • ACNB Corporation ACNB
  • Alabama symbol not shown
  • 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
  • Florida SBCF
  • 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
  • Virginia VABK
2025 Compensation Benchmarking Peer Group
  • 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 Community Corporation FCCO
  • 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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- Thomas Cherry (President/Chief Executive Officer), FY2025 total compensation $1,471,984 (base salary $600,000) [exec_comp, SEC accession 0000913341-26-000015, filed 2026-03-11]

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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.
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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.
316 figures on this page: 305 cited to the filing that reported them, 11 calculated from figures it prints.
305 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
    2025 EXECUTIVE COMPENSATION TABLES · CEO Pay Ratio · Compensation Discussion and Analysis · Director Compensation · and 2 more sections
  3. 0000913341-25-000024
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0000913341-25-000020
    2024 EXECUTIVE COMPENSATION TABLES
  5. 0000913341-24-000020
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000913341-24-000015
    2023 EXECUTIVE COMPENSATION TABLES
  7. 0000913341-23-000021
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0000913341-23-000016
    2022 EXECUTIVE COMPENSATION TABLES
  9. 0000913341-22-000023
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0000913341-21-000018
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0000913341-20-000030
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0000913341-19-000013
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0000913341-18-000025
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001558370-17-002751
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 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, FY2022–FY2025.” https://intel.velarion.ai/comp/CFFI (accessed 2026).
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15 filings cited on this page
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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.

AmeriServ Financial, Inc.BayFirst Financial Corp.Blue Foundry BancorpCapital City Bank Group, Inc.CB Financial Services, Inc.CF Bankshares Inc.Chain Bridge Bancorp Inc.Civista Bancshares, Inc.Colony Bankcorp, Inc.F & M Bank Corp.Farmers & Merchants Bancorp, Inc.Fidelity D & D Bancorp, Inc.LCNB Corp.MainStreet Bancshares, Inc.Meridian Corp.MetroCity Bankshares, Inc.Middlefield Banc Corp.National Bankshares, Inc.Norwood Financial Corp.Ohio Valley Banc Corp.Parke Bancorp, Inc.Peoples Bancorp of North Carolina, Inc.Princeton Bancorp, Inc.Richmond Mutual Bancorporation, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

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}
}
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