Movers and shakers

Community 1st Bank reports first quarter gains

Community 1st Bank reported pre-tax net income for the first quarter of 2015 of $158,864 or 15 cents per share, a 122.8 percent increase compared to $71,290 or 7 cents per share for the first quarter of 2014.

Total assets, as of March 31, were $94.1 million, a slight increase from $94 million on Dec. 31, 2014.

"We expect 2015 to be another outstanding year for our bank, and our pre-tax earnings for the first quarter - at $158,864 - have laid the foundation for that effort," said David Bobbitt, CEO and board chairman. "We continue to represent increasingly strong gains in loans and deposits and we are particularly pleased with the progressive gain in market share that we have enjoyed as a result of our consistent performance."

Total loans for the current quarter increased 1 percent to $58.7 million with total deposits remaining relatively unchanged at $82.9 million. For the year, total loans at $58.7 million reflect growth of 6.6 percent over the prior year.

"Our consistent loan growth, coupled with our resolution to maintain a strong credit culture, is indicative of our determination to serve our customers with timely credit decisions right here in Kootenai County where we all work and play," said Jerry Lyon, president, chief operating officer and chief credit officer.

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