Communities First Financial : Quarterly Summary Financial Information-12-31-2021

SELECT FINANCIAL INFORMATION AND		For the Quarter Ended:		Percentage Change From:			Year to Date as of:
	Dec. 31,		Sept. 30,		Dec. 31,		Sept. 30,	Dec. 31,			Dec. 31,		Dec. 31,	Percent
RATIOS (unaudited)
	2021		2021		2020	2021	2020			2021		2020	Change
BALANCE SHEET DATA - PERIOD END BALANCES:
	Total assets	$	1,080,103	$	1,023,299	$	871,347	6%	24%
	Total Loans		726,253		700,318		620,766	4%	17%
	Investment securities		291,969		269,236		222,808	8%	31%
	Total deposits		936,549		893,249		726,254	5%	29%
	Shareholders equity, net	$	89,292	$	84,243	$	68,546	6%	30%
SELECT INCOME STATEMENT DATA:
	Gross revenue	$	12,697	$	12,056	$	10,069	5%	26%	$	48,808	$	34,517	41%
	Operating expense		5,216		4,446		4,299	17%	21%			18,591		15,508	20%
	Pre-tax,pre-provision income		7,481		7,610		5,770		-2%	30%			30,217		19,009	59%
	Net income after tax	$	5,405	$	5,220	$	3,253	4%	66%	$	20,526	$	11,513	78%
SHARE DATA:
	Basic earnings per share	$	1.76	$	1.70	$	1.07	4%	64%	$	6.69	$	3.84	74%
	Fully diluted earnings per share	$	1.74	$	1.68	$	1.07	4%	62%	$	6.62	$	3.79	75%
	Book value per common share	$	29.08	$	27.42	$	22.56	6%	29%
	Common shares outstanding		3,070,307		3,071,957		3,038,743	0%	1%
	Fully diluted shares		3,102,524		3,102,925		3,034,214	0%	2%
	CFST - Stock price	$	57.00	$	47.00	$	31.01	21%	84%
RATIOS:
	Return on average assets		2.00%		2.04%		1.50%	-2%	33%			2.06%		1.60%	29%
	Return on average equity		25.15%		25.52%		19.73%	-1%	27%			26.46%		19.29%	37%
	Efficiency ratio		41.09%		36.87%		42.70%	11%	-4%			38.32%		45.01%	-15%
	Yield on earning assets		4.25%		4.23%		4.06%	1%	5%			4.34%		4.15%	5%
	Cost to fund earning assets		0.08%		0.08%		0.11%	-4%	-26%			0.10%		0.14%	-33%
	Net Interest Margin		4.16%		4.14%		3.95%	1%	5%			4.24%		4.01%	6%
	Equity to assets		8.27%		8.23%		7.87%	0%	5%
	Loan to deposits ratio		77.55%		78.40%		85.48%	-1%	-9%
	Full time equivalent employees		77.5		76.5		58.0	1%	34%
BALANCE SHEET DATA - AVERAGES:
	Total assets	$	1,074,440	$	1,017,060	$	862,478	6%	25%	$	996,298	$	718,199	39%
	Total loans		707,695		700,818		595,544	1%	19%			690,463		513,925	34%
	Investment securities		284,958		255,152		198,824	12%	43%			251,296		148,507	69%
	Deposits		941,227		889,973		758,302	6%	24%			869,267		638,094	36%
	Shareholders equity, net	$	85,248	$	81,155	$	65,570	5%	30%	$	77,581	$	59,678	30%
ASSET QUALITY:
	Total delinquent accruing loans	$	4,096	$	2,492	$	1,031	64%	297%
	Nonperforming assets	$	2,930	$	3,072	$	1,689	-5%	73%
	Non Accrual / Total Loans		.40%		.44%		.27%	-8%	48%
	Nonperforming assets to total assets		.27%		.30%		.19%	-10%	40%
	LLR / Total loans		1.35%		1.40%		1.26%	-4%	7%

Q4‐Summary Financials for OTCQX.xls	Communities First Financial Corporation ‐ CFST
Summary Ratios

STATEMENT OF INCOME ($ in thousands)		For the Quarter Ended:		Percentage Change From:			For the Year Ended
(unaudited)		Dec. 31,		Sept. 30,		Dec. 31,		Sept. 30,	Dec. 31,			Dec. 31,		Dec. 31,	Percent
	2021		2021		2020	2021	2020			2021		2020	Change
Interest Income
	Loan interest income	$	9,103	$	8,666	$	7,098	5%	28%	$	34,527	$	24,662	40%
	Investment income		1,853		1,702		1,276	9%	45%			6,688		3,624	85%
	Int. on fed funds & CDs in other banks		30		26		81	15%	-63%			125		330	-62%
	Dividends from non-marketable equity		110		41		34		168%	224%			218		119	83%
	Interest income		11,096		10,435		8,489	6%	31%			41,558		28,735	45%
	Int. on deposits		213		208		229	2%	-7%			858		963	-11%
	Int. on short-term borrowings		0		0		0	0%	0%			4		33	-88%
	Int. on long-term debt		464		464		295		0%	57%			1,858		295	530%
	Interest expense		677		672		524		1%	29%			2,720		1,291	111%
	Net interest income		10,419		9,763		7,965	7%	31%			38,838		27,444	42%
	Provision for loan losses		0		400		1,350		-100%	-100%			2,000		3,300	-39%
	Net interest income after provision		10,419		9,363		6,615	11%	58%			36,838		24,144	53%
Non-Interest Income:
	Total deposit fee income		462		427		219	8%	111%			1,573		637	147%
	Debit / credit card interchange income		136		138		90	-1%	51%			506		302	68%
	Merchant services income		1,111		839		1,009	32%	10%			4,000		3,959	1%
	Gain on sale of loans		413		672		587	-39%	-30%			2,984		1,490	100%
	Other operating income		156		217		199		-28%	-22%			907		685	32%
	Non-interest income		2,278		2,293		2,104	-1%	8%			9,970		7,073	41%
Non-Interest Expense:
	Salaries & employee benefits		3,265		2,847		2,928	15%	12%			11,516		9,696	19%
	Occupancy expense		202		212		193	-5%	5%			827		823	0%
	Other operating expense		1,749		1,387		1,178		26%	48%			6,248		4,989	25%
	Non-interest expense		5,216		4,446		4,299	17%	21%			18,591		15,508	20%
	Net income before tax		7,481		7,210		4,420		4%	69%			28,217		15,709	80%
	Tax provision		2,076		1,990		1,167		4%	78%			7,691		4,196	83%
	Net income after tax	$	5,405	$	5,220	$	3,253	4%	66%	$	20,526	$	11,513	78%

Q4-Summary Financials for OTCQX.xls	Communities First Financial Corporation - CFST
Income Statement

BALANCE SHEET ($ in thousands )			End of Period:				Percentage Change From:
			Dec. 31,		Sept. 30,		Dec. 31,		Sept. 30,	Dec. 31,
(unaudited)		2021		2021		2020	2021	2020
ASSETS
	Cash and due from banks	$	13,418	$	9,775	$	9,788	37%	37%
	Fed funds sold and deposits in banks		23,362		29,499		618	-21%	3680%
	CDs in other banks		1,490		1,739		9,175	-14%	-84%
	Investment securities		291,969		269,236		222,808	8%	31%
	Loans held for sale		3,811		3,835		0	-1%	0%
	Portfolio loans outstanding:
	RE constr & land development		31,916		28,217		15,754	13%	103%
	Residential RE 1-4 Family		17,150		17,826		13,507	-4%	27%
	Commercial Real Estate		382,023		333,595		226,246	15%	69%
	Agriculture		57,348		46,488		33,026	23%	74%
	Commercial and Industrial		185,155		189,856		172,624	-2%	7%
	SBA PPP Loans		52,594		84,282		159,491	-38%	-67%
	Consumer and Other		67		54		118	24%	-43%
	Total Portfolio Loans		726,253		700,318		620,766		4%	17%
	Deferred fees & discounts		(2,981)		(3,868)		(3,728)	-23%	-20%
	Allowance for loan losses		(9,785)		(9,785)		(7,848)	0%	25%
	Loans, net		713,487		686,665		609,190		4%	17%
	Non-marketable equity investments		4,132		4,071		3,059	1%	35%
	Cash value of life insurance		8,397		8,349		8,198	1%	2%
	Accrued interest and other assets		20,037		10,130		8,511	98%	135%
	Total assets	$	1,080,103	$	1,023,299	$	871,347		6%	24%
LIABILITIES AND EQUITY
	Non-interest bearing deposits	$	594,044	$	554,579	$	446,920	7%	33%
	Interest checking		26,277		31,915		19,543	-18%	34%
	Savings		81,324		85,811		56,949	-5%	43%
	Money market		168,423		152,542		131,904	10%	28%
	Certificates of deposits		66,481		68,402		70,938	-3%	-6%
	Total deposits		936,549		893,249		726,254		5%	29%
	Short-term borrowings		0		0		31,000	0%	-100%
	Long-term debt		39,283		39,244		39,126	0%	0%
	Other liabilities		14,979		6,563		6,421	128%	133%
	Total liabilities		990,811		939,056		802,801		6%	23%
	Common stock & paid in capital		32,486		32,245		30,997	1%	5%
	Retained earnings		53,948		48,545		33,421	11%	61%
	Total equity		86,434		80,790		64,418		7%	34%
	Accumulated other comprehensive income		2,858		3,453		4,128	-17%	-31%
	Shareholders equity, net		89,292		84,243		68,546		6%	30%
	Total Liabilities and shareholders' equity	$	1,080,103	$	1,023,299	$	871,347		6%	24%

Q4-Summary Financials for OTCQX.xls	Communities First Financial Corporation - CFST
Balance Sheet

ASSET QUALITY ($ in thousands)			Period Ended:
(unaudited)		Dec. 31,		Sept. 30,		Dec. 31,
	2021		2021		2020
Delinquent accruing loans 30-60 days	$	3,832	$	934	$	1,021
Delinquent accruing loans 60-90 days	$	254	$	0	$	10
Delinquent accruing loans 90+ days	$	10	$	1,558	$	0
Total delinquent accruing loans	$	4,096	$	2,492	$	1,031
Loans on non accrual	$	2,930	$	3,072	$	1,689
Other real estate owned	$	0	$	0	$	0
Nonperforming assets	$	2,930	$	3,072	$	1,689
Performing restructured loans	$	828	$	0	$	430
Delq 30-60 / Total Loans		.53%		.13%		.16%
Delq 60-90 / Total Loans		.04%		.00%		.00%
Delq 90+ / Total Loans		.00%		.22%		.00%
Delinquent Loans / Total Loans		.56%		.36%		.17%
Non Accrual / Total Loans		.40%		.44%		.27%
Nonperforming assets to total assets		.27%		.30%		.19%
Year-to-datecharge-off activity
Charge-offs	$	64	$	64	$	40
Recoveries	$	0	$	0	$	47
Net charge-offs	$	64	$	64	$	(7)
Annualized net loan losses (recoveries) to average loans		.01%		.01%		-.00%
LOAN LOSS RESERVE RATIOS:
Reserve for loan losses	$	9,785	$	9,785	$	7,848
Total loans	$	726,253	$	700,317	$	620,766
Purchased govt. guaranteed loans	$	41,497	$	43,806	$	46,567
Originated govt. guaranteed loans	$	90,493	$	121,715	$	200,083
LLR / Total loans		1.35%		1.40%		1.26%
LLR / Loans less 100% govt. gte. loans (PPP and purchased)		1.55%		1.71%		1.89%
LLR / Loans less all govt. guaranteed loans		1.65%		1.83%		2.10%
LLR / Total assets		.91%		.96%		.90%

Q4-Summary Financials for OTCQX.xls	Communities First Financial Corporation - CFST
Asset Quality

SELECT FINANCIAL TREND INFORMATION				For the Quarter Ended:
	Dec. 31,		Sept. 30,		June 30,		Mar. 31,		Dec. 31,
(unaudited)
	2021		2021		2021		2021		2020
BALANCE SHEET DATA - PERIOD END BALANCES:
	Total assets	$	1,080,103	$	1,023,299	$	988,481	$	957,479	$	871,347
	Loans held for sale		3,811		3,835		3,852		0		0
	Loans held for investment ex. PPP		673,659		616,036		563,160		502,481		461,275
	PPP Loans		52,594		84,282		140,317		189,485		159,491
	Investment securities		291,969		269,236		251,618		233,433		222,808
	Non-interest bearing deposits		594,044		554,579		527,259		511,497		446,920
	Interest bearing deposits		342,505		338,670		337,288		324,812		279,334
	Total deposits		936,549		893,249		864,547		836,309		726,254
	Short-term borrowings		0		0		0		5,000		31,000
	Long-term debt		39,283		39,244		39,204		39,165		39,126
	Total equity		86,434		80,790		75,344		69,371		64,418
	Accumulated other comprehensive income		2,858		3,453		3,415		1,544		4,128
	Shareholders equity, net	$	89,292	$	84,243	$	78,759	$	70,915	$	68,546
INCOME STATEMENT - QUARTERLY VALUES:
	Interest income	$	11,096	$	10,435	$	10,095	$	9,932	$	8,489
	Int. on dep. & short-term borrowings		213		208		210		229		229
	Int. on long-term debt		464		464		464		464		295
	Interest expense		677		672		674		693		524
	Net interest income		10,419		9,763		9,421		9,239		7,965
	Non-interest income		2,278		2,293		3,621		1,778		2,104
	Gross revenue		12,697		12,056		13,042		11,017		10,069
	Provision for loan losses		0		400		750		850		1,350
	Non-interest expense		5,216		4,446		4,484		4,445		4,299
	Net income before tax		7,481		7,210		7,808		5,722		4,420
	Tax provision		2,076		1,990		2,100		1,526		1,167
	Net income after tax	$	5,405	$	5,220	$	5,708	$	4,196	$	3,253
BALANCE SHEET DATA - QUARTERLY AVERAGES:
	Total assets	$	1,074,440	$	1,017,060	$	980,937	$	910,728	$	862,478
	Loans held for sale		4,492		4,652		12,485		0		9,934
	Loans held for investment ex. PPP		640,412		583,254		521,676		473,185		422,505
	PPP Loans		67,283		117,564		177,065		180,709		173,039
	Investment securities		284,958		255,152		239,475		224,899		198,824
	Non-interest bearing deposits		593,190		555,860		502,819		467,690		463,311
	Interest bearing deposits		348,036		334,113		351,378		322,087		294,991
	Total deposits		941,227		889,973		854,198		789,777		758,302
	Short-term borrowings		3		411		7,516		6,182		8,223
	Long-term debt		39,265		39,225		39,186		39,147		25,121
	Total equity		82,751		77,136		71,477		66,429		62,258
	Accumulated other comprehensive income		2,497		4,019		2,394		3,414		3,311
	Shareholders equity, net	$	85,248	$	81,155	$	73,870	$	69,843	$	65,570