Community 1st Bank Demonstrates Strong Momentum with Second Quarter Earnings

Solid Financial Performance in Second Quarter 2015

POST FALLS, Idaho--()--Community 1st Bank (OTCPink: CMYF) reported pretax net income of $356,045 for the first half of 2015, compared to $300,051 for the same period in the prior year. Total assets at June 30, 2015 were $95.1 million, an increase of $6.7 million or 7.83% from the prior year. For the first six months of 2015, total loans increased to $62.5 million and total deposits increased slightly to $84.3 million. There are no non-performing assets for the period, representing a decrease from 0.26% as of June 30, 2014.

“As we move past the midpoint of 2015, we are very pleased with the consistently strong performance of our bank toward achieving what we believe will be our best year yet! The benchmarks we have established to guide and direct our local focus continue to be met and exceeded, as noted by our pre-tax earnings for the second quarter of $197,181. This success is primarily a function of our growth in locally centered loan production where we have achieved 12.5% growth over June 30, 2014 and a 7.6% increase for the first six months of 2015,” said David Bobbitt, Chief Executive Officer and Chairman of the Board.

Q2 2015 Highlights:

Pretax Net income of $197,181 or $0.19 per share, compared to $150,761 or $0.14 per share, for second quarter in 2014.

• Total assets grew 7.8% to $95.1 million as compared to $88.2 million a year ago.

• Noninterest bearing demand deposits increased 33.8% to $19.5 million, as compared to $14.6 million a year earlier.

• Total loans grew 12.73% to $62.5 million and total deposits grew 7.95% to $83.7 million as compared to a year ago.

• Tangible book value per share increased to $10.27 from $9.68 in the prior year.

• Pretax Return on equity for the quarter increased to 7.33% from 5.98% a year ago.

• For the six months ending June 30, 2015, Pretax Return on equity was 6.66% up from 6.01% in the prior year.

• There were no Nonperforming assets, down from 0.26% in the year-earlier period.

• Allowance for loan losses was 1.75% of loans.

• The efficiency ratio (noninterest expense divided by total revenue) improved to 80.31% as of June 30, 2015 compared to 86.45% for the prior year.

• Capital ratios continue to exceed regulatory requirements, with total risk-based capital substantially above well-capitalized regulatory requirements.

• For 19 consecutive quarters, Community 1st Bank was awarded a 5-star rating, the highest available, from independent banking rating agency BauerFinancial.

Community 1st Bank remains focused on growing the bank in a safe and compliant manner while providing great service to our customers, supporting the growth of our employees and providing a good return to our shareholders.

www.com1stbankid.com or call (208) 635-7171 Coeur d’Alene or (208) 457-9610 Post Falls

Contacts

Community 1st Bank
David Bobbitt, 208-635-7171
Chairman and CEO

Release Summary

Community 1st Bank Demonstrates Strong Momentum with Second Quarter Earnings. Solid Financial Performance in Second Quarter 2015.

Contacts

Community 1st Bank
David Bobbitt, 208-635-7171
Chairman and CEO