Communities First Financial Corporation (CFST) 2017年年度报告「OTC」.pdf

1、7690 N.Palm Avenue,Fresno,California 93711559.439.0200WWW.FRESNOFIRSTBANK.COMMessage from the President&CEOTo Our Shareholders,In 2017,the Bank achieved stellar results in regards to our key metrics.One of our main strategic initiatives is to become a top 1%performing community bank,and we are well

2、on our way to that end.We surpassed an important milestone this year by growing past$400 million in assets.Our single branch market model is a core strength,so it is important for us to achieve these mile-stones and validate the potential of our business model.Our teams focused approach brought us s

3、uccess in all aspects of our business and during the year total assets grew 12%,to$407.4 million,total deposits grew 12%,to$371.4 million,total loans increased 16%,to$263.9 million and total after-tax profit increased 20%to$3.7 million.The changes coming out of Washington will bring positive news to

4、 our industry through tax reform and regulatory amendments.The new corporate tax rate will have an immediate favorable impact to our core earnings starting in 2018,however,regulatory changes take a bit longer to work through the system so we will wait to see the actual impact in the coming year.In M

5、arch of this year,the Bank announced the retirement of our Chairman and founding Board member,David Price.He has been instrumental in developing the culture of the Bank,which is rooted in the idea that by giving staff a“stake in the outcome”through our ESOP,the perfor-mance of the Bank,the level of

6、service for our customers and the return for our shareholders will exceed the market.His leadership,enthusiasm and commitment to our vision and values have been a driving force behind our success.Dave will be succeeded by Mark Saleh,who has been our Vice-Chairman for the past 8 years.Through the smo