SCHEDULE 13D/A: Castle Creek Capital Reduces Stake in CF Bankshares to 9.9% Following Recent Share Sales

Sentiment:

Schedule 13D Amendment 15 May 2025 1:33 AM

Castle Creek Capital Partners VII, LP has filed an Amendment No. 6 to its Schedule 13D, reporting a reduction in its beneficial ownership of CF Bankshares Inc. common stock to 9.9% following recent open-market sales.

Worse than expectedCastle Creek Capital Partners VII, LP, a significant institutional investor, reduced its stake in CF Bankshares Inc. by selling 53,017 shares between December 2024 and May 2025.The reduction in beneficial ownership from a previously higher stake (implied by Amendment No. 6) to 9.9% could be interpreted as a decrease in conviction by a major investor.

Summary

Castle Creek Capital Partners VII, LP (Fund VII) and Castle Creek Capital VII LLC (CCC VII) have filed Amendment No. 6 to their Schedule 13D regarding their holdings in CF Bankshares Inc. (the "Issuer" or the "Company").
The filing indicates that Fund VII sold an aggregate of 53,017 shares of Voting Common Stock between December 11, 2024, and May 12, 2025, for net proceeds of $1,324,836.26.
Following these transactions, Fund VII now directly owns 272,632 shares of Voting Common Stock.
The aggregate beneficial ownership of Fund VII and its affiliates is reported as 543,565 shares, which includes the 272,632 directly held shares and the maximum number of shares (270,933) of Voting Common Stock issuable upon conversion of Non-Voting Common Stock, taking into consideration the Ownership Cap.
This aggregate beneficial ownership represents approximately 9.9% of CF Bankshares Inc.'s Voting Common Stock, calculated based on 5,490,563 shares outstanding as of May 8, 2025.
The filing details specific sales transactions in May 2025: 27,238 shares sold on May 8, 2025, at a weighted average price of $24.00 per share; 230 shares sold on May 9, 2025, at a weighted average price of $24.03 per share; and 5,328 shares sold on May 12, 2025, at a weighted average price of $24.07 per share.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to a significant institutional investor reducing its stake in the company, which can be perceived as a lack of conviction or a portfolio rebalancing away from the issuer.

Positives

Negatives

A significant institutional investor, Castle Creek Capital Partners VII, LP, has reduced its stake in CF Bankshares Inc. by selling 53,017 shares, which could be perceived as a decrease in conviction or a portfolio rebalancing away from the issuer.

Risks

Future Outlook

Management Comments

Industry Context

Comparison to Industry Standards

Legal Proceedings

Related Party Transactions

Stakeholder Impact

Shareholders: The reduction in stake by a notable institutional investor could lead to negative market sentiment and potentially influence the stock price.

Next Steps

Key Dates

Date	Description
December 24, 2019	Original Schedule 13D filed by Castle Creek Capital.
March 31, 2020	Amendment No. 1 to Schedule 13D filed.
June 1, 2020	Amendment No. 2 to Schedule 13D filed.
November 26, 2024	Amendment No. 3 to Schedule 13D filed.
December 3, 2024	Amendment No. 4 to Schedule 13D filed.
December 11, 2024	Start date of the period during which Fund VII sold an aggregate of 53,017 shares of Voting Common Stock.
December 12, 2024	Amendment No. 5 to Schedule 13D filed.
May 8, 2025	CF Bankshares Inc. reported 5,219,630 shares of Voting Common Stock outstanding in its Quarterly Report on Form 10-Q; Fund VII sold 27,238 shares of Voting Common Stock at $24.00 per share.
May 9, 2025	Fund VII sold 230 shares of Voting Common Stock at $24.03 per share.
May 12, 2025	Date of event which requires the filing of this Schedule 13D Amendment No. 6; Fund VII sold 5,328 shares of Voting Common Stock at $24.07 per share; End date of the period during which Fund VII sold shares; Company's Quarterly Report on Form 10-Q filed with the SEC.
May 14, 2025	Signature date of the Schedule 13D Amendment No. 6 by Tony Scavuzzo.

Recommendation

hold

Keywords

CF Bankshares Inc., Castle Creek Capital, Schedule 13D, beneficial ownership, common stock, share sales, institutional investor, SEC filing, equity stake, voting common stock, non-voting common stock

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