CFBank Taps Veteran John Wilgus for Strategic CRE Expansion

COLUMBUS, OH – January 21, 2026 – CF Bankshares Inc. (NASDAQ: CFBK), the parent company of CFBank, has announced a significant strategic hire, appointing banking veteran John Wilgus as Senior Vice President. The move is a clear signal of the boutique commercial bank's intention to aggressively scale its commercial and commercial real estate (CRE) lending capabilities across its key Midwestern markets.

Wilgus, a widely respected figure in the Ohio banking community, brings more than three decades of experience to the role, with a specialized focus on commercial real estate financing and relationship management. His appointment is seen by industry observers as a tactical maneuver to deepen CFBank's market penetration and challenge larger competitors in the lucrative CRE sector.

A Strategic Play for Market Share

The hiring of John Wilgus is more than a simple personnel addition; it represents a calculated play in CFBank's long-term growth strategy. The bank, which operates in the major metro areas of Columbus, Cleveland, Cincinnati, Akron, and Indianapolis, has been vocal about its ambition to expand its commercial banking footprint. Wilgus's deep-rooted experience, particularly in the Northern Ohio market, is expected to be a critical asset in this endeavor.

Most recently, Wilgus served as Senior Vice President at First Financial Bank, where he was instrumental in developing and managing a substantial portfolio of commercial real estate relationships. His expertise lies in working directly with closely held businesses, property owners, and developers to structure complex, customized financing solutions. This background aligns directly with CFBank’s target clientele and strategic objectives.

In a competitive CRE lending environment, success often hinges on relationships and a nuanced understanding of local market dynamics. By bringing Wilgus on board, CFBank not only gains his extensive network but also his proven ability to forge long-term partnerships that support client growth and stability. This move is designed to accelerate the bank's ability to source and close significant deals, solidifying its position as a serious player in the regional CRE space.

The Allure of the Boutique Banking Model

Wilgus's transition to CFBank also highlights a growing trend in the financial industry: the migration of top-tier talent from larger, more rigid institutions to smaller, more agile banks. CFBank has cultivated a reputation as a 'boutique' commercial bank, a model that eschews the bureaucracy often associated with its larger rivals in favor of personalized service and direct access to decision-makers.

This cultural distinction appears to be a powerful recruitment tool. CFBank President Brad Ringwald commented on the synergy, stating, "We are excited to welcome John to the CFBank team. His deep experience in commercial real estate and relationship banking aligns perfectly with our boutique banking model and commitment to delivering personalized service to our clients."

For seasoned bankers like Wilgus, this environment offers the freedom to serve clients more effectively, with faster turnaround times and more flexible, tailored solutions. This model is particularly attractive to the entrepreneurs and owners of closely held businesses that form CFBank's core customer base. These clients often require a level of sophistication and customization that larger banks struggle to provide efficiently.

Tim O'Dell, President and CEO of the parent company, CF Bankshares, reinforced this point. "John's addition reinforces our success with attracting experienced bankers who value relationships, local decision-making, and quality growth," he noted. "We are pleased to have him join our team as we continue to scale our commercial banking presence."

A Trajectory of Consistent Growth

CFBank's ability to attract talent like Wilgus is built on a foundation of remarkable and sustained growth. The institution's current trajectory began in 2012 when the current leadership team and board recapitalized the company amidst the lingering effects of the financial crisis. They repositioned CFBank from a different model into a full-service commercial bank focused on a specific, underserved niche.

The strategy has paid significant dividends. Since the 2012 recapitalization, CFBank has achieved an impressive Compound Annual Growth Rate (CAGR) of 20%. This consistent performance has not only strengthened its balance sheet but also validated its boutique business model, making it a compelling destination for both clients and high-performing banking professionals.

The bank’s service offerings are comprehensive, spanning commercial loans, equipment leases, treasury management, and residential mortgage lending. However, its core differentiator remains its service philosophy: matching the sophistication of a large bank with the accessibility and ease of doing business of a community institution. The addition of Wilgus is a direct investment in this philosophy, adding another layer of deep expertise to its client-facing team and signaling that the bank is ready for its next phase of expansion.

As CFBank continues to build on its track record, the strategic deployment of experienced leaders like John Wilgus will be crucial. His role will not only involve managing and growing the CRE portfolio but also mentoring other team members and reinforcing the relationship-centric culture that has fueled the bank's success. This latest hire is a testament to CFBank's clear vision for the future and its commitment to assembling the right team to achieve it.