Community 1st Bank Earns $128,272 in Second Quarter or $0.12 Per Share

POST FALLS, Idaho--(BUSINESS WIRE)--

Community 1^st Bank (OTC Pink: CMYF) reported net income of $128,272 or $0.12 per share for the second quarter of 2016, which is comparable to the same period in the prior year. Year to date earnings were $299,876, which was an increase of 28.34% from the prior year. Total assets at June 30, 2016 were $108.7 million, an increase of $13.6 million or 14.33% from June 2015. This increase in assets was largely driven by a $7.0 million increase in noninterest bearing deposits, which has significantly reduced our total cost of funds from 46 bps as of June 30, 2015 to 33 bps as of June 30, 2016, which was a reduction of 13 bps.

"We are pleased to share our highlights and achievements as we move through the first six months of 2016! As always, our strategic focus, since our inception in 2007, has been to continue to recognize and serve the businesses and residents of Kootenai County to the very best of our ability. Our core strength remains centered in the community focused efforts of 'Doing the Right Thing' in our communities. This is best represented by the over 1500 personal hours our teams have given back throughout our market area. Our third quarter 2016 will offer even greater promise for our customer as we look to open our new Loan Production Office at 504 E. Sherman," said Dave Bobbitt, Chairman and CEO for the bank.

Second Quarter and 2016 Highlights:

Book value per share was $10.40, an increase of $0.13 from the prior quarter.

• Total assets grew 6.19% to $108.7 million as compared to $102.4 million as of March 31, 2016.

• Return on equity for the year increased to 5.30% from 4.39% a year ago.

• The net interest margin increased to 3.65% from 3.55% in the prior year.

• Allowance for loan losses was 1.35% of loans.

• Capital ratios continue to exceed regulatory requirements, Tier 1 leverage ratio was 10.94%.

• Efficiency ratio improved to 77.08% during Q2 2016 from 80.31% for the same period in the prior year.

• For 23 consecutive quarters, Community 1^st Bank was awarded a 5-star rating, the highest available, from independent banking rating agency BauerFinancial.

Community 1^st 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

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