Community First Bancshares, Inc. Announces Results of Special Meeting of Members
January 13 2021 - 9:00AM
Business Wire
Community First Bancshares, Inc. (the “Company”), the stock
holding company of Newton Federal Bank (the “Bank”), announced
today that, at a special meeting held on January 12, 2021, the
members of Community First Bancshares, MHC (the “MHC”) approved the
Plan of Conversion and Reorganization (the “Plan”) in connection
with the Company’s previously announced plan to convert from the
mutual holding company to the fully public stock holding company
form of organization. Stockholders of the Company had previously
approved the Plan at a special meeting held on December 30,
2020.
The closing of the stock offering of Affinity Bancshares, Inc.
and conversion remains subject to receipt of final regulatory
approvals and customary closing conditions.
Any questions regarding the conversion or the offering may be
directed to the Stock Information Center by telephone at (678)
729-9788.
Forward-Looking Statements
Certain statements contained herein constitute “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934 and
are intended to be covered by the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by words such as “may,” “will,” “would,”
“intend,” “believe,” “expect,” “plan,” “estimate,” “anticipate,”
“continue,” or similar terms or variations on those terms, or the
negative of those terms. These statements are based upon the
current beliefs and expectations of Company management and are
subject to significant risks and uncertainties. Actual results may
differ materially from those set forth in the forward-looking
statements as a result of numerous factors. Factors that could
cause such differences to exist include, but are not limited to:
the failure to obtain the final approval of the Board of Governors
of the Federal Reserve for the proposed conversion and related
stock offering, delays in obtaining such approval, or adverse
conditions imposed in connection with such approval; those related
to the real estate and economic environment, particularly in the
market areas in which the Company operates; fiscal and monetary
policies of the U.S. Government; changes in government regulations
affecting financial institutions, including regulatory compliance
costs and capital requirements; fluctuations in the adequacy of
loan loss reserves; decreases in deposit levels necessitating
increased borrowing to fund loans and investments; the effects of
any pandemic, including COVID-19; operational risks including, but
not limited to, cybersecurity, fraud and natural disasters; the
risk that the Company may not be successful in the implementation
of its business strategy; changes in prevailing interest rates;
credit risk management; asset-liability management; and other risks
described in the Company’s filings with the Securities and Exchange
Commission (the “SEC”), which are available at the SEC’s website,
www.sec.gov.
The Company wishes to caution readers not to place undue
reliance on any such forward-looking statements, which speak only
as of the date made. The Company wishes to advise readers that the
factors listed above or other factors could affect the Company’s
financial performance and could cause the Company’s actual results
for future periods to differ materially from any opinions or
statements expressed with respect to future periods in any current
statements. The Company does not undertake and specifically
disclaims any obligation to publicly release the results of any
revisions, which may be made to any forward-looking statements to
reflect events or circumstances after the date of such statements
or to reflect the occurrence of anticipated or unanticipated
events.
About Community First Bancshares,
Inc.
The Company is a federal corporation based in Covington,
Georgia. The Company’s banking subsidiary, Newton Federal Bank,
opened in 1928 and currently operates a full-service office in
Atlanta, Georgia, two full-service offices in Covington, Georgia, a
loan production office in Braselton, Georgia, and a loan production
office serving the Alpharetta and Cumming, Georgia markets.
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Edward J. Cooney Chief Executive Officer (678) 742-9990
Community First Bancshares (NASDAQ:CFBI)
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