Shareholders Dear Shareholders,
Two thousand seven was an exciting and significant year for Community First, Inc. We’ve grown – in geography, in facilities, in customer base, and we’ve grown financially.
In 2007, we opened the Neely’s Mill office in Columbia and moved into our expanded facility in downtown Columbia. With 30.91% of the market, we’re the leading bank in MauryCounty.
Community First, Inc.’s assets grew nearly 51% in 2007, with a total of $636,062,000 in assets at the end of the year. We’re proud of what that growth means to you. While Community First, Inc. isn’t listed on an exchange, we have enjoyed continued market demand for Community First, Inc. shares. The latest share trade was at $30 per share. We have announced a new dividend reinvestment plan for our shareholders. The plan will not only allow you to reinvest your dividends but also make acquiring more shares easier through the use of quarterly purchases.
We’ve also experienced impressive quality loan growth, with a nearly 41% increase in loan volume. While the growth is impressive, we have not forgotten our focus on credit quality. We implemented several review procedures in 2007 to ensure our loan portfolio remains strong in these uncertain times. During 2008, we will continue to focus on credit quality as well as grow our mortgage business.
With our acquisition of First National Bank, we’ve added new but established offices in Centerville and Lyles with the experienced financial professionals who’ve worked there for years – as well as their loyal customers.
Another area we are continuing to expand is our Investment Services Group. We are in the process of adding additional investment professionals to assist our clients in all forms of financial planning. In addition, we’re adding more services for commercial customers, including Merchant Capture, which allows businesses to deposit checks directly and electronically into their Community First Bank & Trust accounts without coming to the bank. This will also extend the daily deadline for deposits and credits, an important advantage for business customers.
We have broke ground for a second WilliamsonCounty office in Thompson’s Station, and we’ll be opening an additional Murfreesboro office, as well. We’re fortunate to be in areas that continue to grow economically. With the opportunities that presents plus supportive shareholders and talented, dedicated staff, we can look forward not only to another year of growth, but a future solidly rooted in Middle Tennessee and growing for years to come.
Respectfully yours,
Marc R. Lively President and CEO
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