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Communities First Financial Corporation - cfst STOCK NEWS

Welcome to our dedicated page for Communities First Financial Corporation news (Ticker: cfst), a resource for investors and traders seeking the latest updates and insights on Communities First Financial Corporation stock.

FFB Bancorp, formerly Communities First Financial Corporation, is a bank holding company that owns FFB Bank. FFB Bank focuses on serving businesses, professionals, and successful individuals, offering personal and business checking accounts, payment processes, and loan programs. The company reported a 52% increase in net income for the second quarter of 2023, highlighting growth in net interest income and noninterest income. With a strong deposit franchise, robust loan growth, and solid credit quality, FFB Bancorp continues its organic growth path.

Rhea-AI Summary
FFB Bancorp reports a 52% increase in net income to $9.42 million for Q2 2023, with a net interest margin of 5.09%. Total assets grew 14% to $1.30 billion, total portfolio loans grew 21% to $875.18 million, and total deposits increased 7% to $1.08 billion. Shareholder equity grew 34% to $109.56 million.
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FAQ

What is FFB Bancorp?

FFB Bancorp, previously known as Communities First Financial Corporation, is a bank holding company that owns FFB Bank.

What is FFB Bank's primary focus?

FFB Bank primarily focuses on serving businesses, professionals, and successful individuals by offering a range of personal and business checking accounts, payment processes, and loan programs.

What were the highlights of FFB Bancorp's second quarter of 2023?

FFB Bancorp reported a 52% increase in net income for the second quarter of 2023, driven by growth in net interest income, noninterest income, and an expanded net interest margin.

How does FFB Bancorp plan to navigate economic challenges?

FFB Bancorp believes it is well-positioned to navigate economic headwinds with ample liquidity, strong capital levels, and a focus on organic growth.

What recognition has FFB Bancorp received?

FFB Bancorp has been recognized as part of the OTCQX Best 50 Companies for 2019 and 2023 and as one of the top-performing OTCQX companies in the country for 2018.

What are some awards received by FFB Bank?

FFB Bank was ranked #4 on American Banker's list of the Top 200 Publicly Traded Banks under $2 Billion in Assets for 2022 and ranked #18 by S&P Global as the best performing community bank under $3 billion in assets in 2022.

What is the focus of FFB Bank's business plan?

FFB Bank's business plan focuses on top-line revenue growth, strong net interest income, an expanded net interest margin, and in-line operating expenses.

How has FFB Bancorp responded to customer demand for higher returns on deposits?

FFB Bancorp has seen total deposits increase by 7% from a year ago, with a focus on higher yielding accounts like certificates of deposits.

What is FFB Bancorp's approach to credit quality?

FFB Bancorp maintains solid credit quality with nonperforming assets to total assets at 0.47% and a provision of $612,000 for credit losses in the second quarter of 2023.

What recent changes has FFB Bancorp made?

FFB Bancorp changed its name to align with the renaming of FFB Bank and is expanding into Southern California with new staff and a strong pipeline for growth in the 2nd half of 2023.

Communities First Financial Corporation

OTC:CFST

CFST Rankings

CFST Stock Data

215.40M
2.18M
7.87%
Commercial Banking
Finance and Insurance
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US
Fresno