Exhibit 99.1

COMMUNITY FIRST, INC. REPORTS 2015 NET INCOME OF $17.4 MILLION OR $5.20 PER COMMON SHARE

COLUMBIA, Tenn. (February 5, 2016) – Community First, Inc. (the “Company”), the holding company for Community First Bank & Trust (the “Bank”) today announced preliminary unaudited financial results for the quarter and year ended December 31, 2015.

Key highlights of Community First’s results for 2015 include:

 

    Net income of $17.4 million or $5.20 per common share, up from $2.4 million or $0.25 per share in 2014

 

    The Company’s total equity more than doubled during the year, ending at $23.0 million compared to $10.9 million at December 31, 2014

 

    Improvements in the Company’s performance and financial condition allowed the Company to reverse a valuation allowance against deferred tax assets totaling $12.7 million in 2015.

 

    The Bank recorded annual loan growth of 3.1% and deposit growth of 4.7%

 

    Non-performing assets decreased to 1.75% of total assets at December 31, 2015 compared to 5.05% at December 31, 2014

 

    The Bank paid dividends to the Company sufficient to allow it to pay all accrued but deferred interest payments on the Company’s subordinated debt associated with its trust preferred securities. As of December 31, 2015, the Company is current on all interest payments due related to its subordinated debt.

 

    The Company redeemed a portion of its outstanding Series A Preferred Stock and all of its outstanding Series B Preferred Stock during the fourth quarter of 2015

 

    The book value of the Company’s common stock increased to $3.38 per common share at December 31, 2015 from ($2.38) per share at December 31, 2014. An increase of $5.76 per share.

Louis Holloway, CEO of Community First said “Management and the Board could not be more excited about the Company’s results for 2015. The Bank has been in a steadily improving position for the past several years and during 2015, we were able to dividend capital from the Bank to allow the holding company to accomplish important objectives related to its debt and capital structure. We accomplished several major goals during 2015 that have been in progress for the past few years. Our results for 2015 reflect the commitment of our employees and our board to increase value for our common shareholders.”

Fourth Quarter 2015 Results of Operations

Net income increased to $13,188,000 in the fourth quarter of 2015 compared to $159,000 for the fourth quarter of 2014. The Company was able to reverse a valuation allowance of $12.7 million related to deferred tax assets. Total interest income increased 7.9% to $4,248,000 in the quarter compared to $3,936,000 in the fourth quarter of 2014. Total interest expense decreased 24.8% to $535,000 in the quarter compared to $711,000 for the comparable period last year, primarily due to the Company paying all of the accrued but deferred interest payments on its subordinated debt during December 2015. The payment eliminated the compounding interest charges on the deferred payments. Non-interest income increased 13.8% during the quarter due to a one-time income item associated with the redemption of the preferred stock of the Bank’s former REIT subsidiary. Non-interest expense increased 12.9% for the quarter primarily due to losses on sale of other real estate.


The following information was filed by Community First Inc (CMFT) on Friday, February 5, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Community First Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Community First Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account