AUBURN, Calif.--(EON: Enhanced Online News)--Community 1st Bancorp (OTCBB:CFBN), announced the placement of $3 million in subordinated notes. The notes were issued on December 29, 2016 and the net proceeds were, in turn, invested in the Bank. “The successful completion of our subordinated note issuance will increase capacity for continued balance sheet growth at the Bank,” James J. Kim, Bancorp’s CEO and President commented. “Community 1st Bank can now maintain its great momentum in the marketplace and continue to grow core deposits and loans. We thank FIG Partners and Daniel Eng for the smooth and timely execution of this transaction.” FIG Partners served as advisor to Community 1st Bancorp in this transaction. Daniel B. Eng of Weintraub Tobin served as legal counsel.
“Community 1st Bank can now maintain its great momentum in the marketplace and continue to grow core deposits and loans. We thank FIG Partners and Daniel Eng for the smooth and timely execution of this transaction.”
Community 1st Bank is headquartered in Auburn, California, with branches in Roseville, Auburn, and Sacramento, California. Community 1st Bank offers a wide range of business and consumer deposit products including remote deposit capture, health savings accounts, online banking, mobile banking and cash management services. The Bank also offers a full complement of loan products, including commercial, consumer, and real estate loans. For more information about the Bank, visit the Bank’s website at www.community1bank.com.
Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, competitive pressure in the banking industry, balance sheet management, net interest margin variations, the ability to control costs and expenses, changes in the interest rate environment and financial policies of the United States government and general economic conditions. The Bank disclaims any obligation to update any such factors.