Community First Bancshares, Inc. Announces Commencement of Stock Offering
23 11월 2020 - 11:00PM
Business Wire
Community First Bancshares, Inc. (the “Company”), the stock
holding company of Newton Federal Bank (the “Bank”), announced
today that Affinity Bancshares, Inc., a newly formed Maryland
corporation that is the proposed successor holding company of the
Bank (“Affinity Bancshares”), is commencing its stock offering in
connection with the proposed conversion of Community First
Bancshares, MHC (the “MHC”) from the mutual holding company
structure to the stock holding company form of organization.
Affinity Bancshares is offering for sale up to 3,220,000 shares,
subject to increase to up to 3,703,000 shares, of common stock at a
purchase price of $10.00 per share. The shares will be offered in a
subscription offering to certain depositors of the Bank as well as
certain depositors of the former Affinity Bank, and to the Bank’s
employee stock ownership plan. Shares of common stock that are not
subscribed for in the subscription offering may be offered for sale
to members of the general public in a community offering, with
preference given to residents of specified counties in the State of
Georgia.
The subscription and community offerings are being managed by
Performance Trust Capital Partners, LLC. All questions concerning
the offering or requests for offering materials should be directed
to the Stock Information Center at (678) 729-9788. The Stock
Information Center, located at 3175 Highway 278, Covington,
Georgia, will be open Monday through Friday from 10:00 a.m. to 4:00
p.m., Eastern Time, beginning November 23, 2020 through December
21, 2020, the scheduled expiration date of the subscription
offering.
Affinity Bancshares must sell at least 2,380,000 shares of its
common stock in the offering. Completion of the conversion and
offering is also subject to the receipt of final regulatory
approvals, the approval of the Company’s stockholders and the MHC’s
members and other customary closing conditions.
This release is neither an offer to sell nor a solicitation
of an offer to buy common stock. The offer is made only by the
prospectus when accompanied by a stock order form. The shares of
common stock of the new holding company are not savings accounts or
savings deposits, may lose value and are not insured by the Federal
Deposit Insurance Corporation or any other government
agency.
Forward-Looking Statements
Certain statements contained herein constitute “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934 and
are intended to be covered by the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by words such as “may,” “will,” “would,”
“intend,” “believe,” “expect,” “plan,” “estimate,” “anticipate,”
“continue,” or similar terms or variations on those terms, or the
negative of those terms. These statements are based upon the
current beliefs and expectations of Company management and are
subject to significant risks and uncertainties. Actual results may
differ materially from those set forth in the forward-looking
statements as a result of numerous factors. Factors that could
cause such differences to exist include, but are not limited to:
the failure to obtain the final approval of the Board of Governors
of the Federal Reserve for the proposed conversion and related
stock offering, delays in obtaining such approvals, or adverse
conditions imposed in connection with such approvals; failure to
obtain stockholder and/or member approval of the conversion; those
related to the real estate and economic environment, particularly
in the market areas in which the Company operates; fiscal and
monetary policies of the U.S. Government; changes in government
regulations affecting financial institutions, including regulatory
compliance costs and capital requirements; fluctuations in the
adequacy of loan loss reserves; decreases in deposit levels
necessitating increased borrowing to fund loans and investments;
the effects of any pandemic, including COVID-19; operational risks
including, but not limited to, cybersecurity, fraud and natural
disasters; the risk that the Company may not be successful in the
implementation of its business strategy; changes in prevailing
interest rates; credit risk management; asset-liability management;
and other risks described in the Company’s filings with the
Securities and Exchange Commission, which are available at the
SEC’s website, www.sec.gov.
The Company wishes to caution readers not to place undue
reliance on any such forward looking statements, which speak only
as of the date made. The Company wishes to advise readers that the
factors listed above or other factors could affect the Company’s
financial performance and could cause the Company’s actual results
for future periods to differ materially from any opinions or
statements expressed with respect to future periods in any current
statements. The Company does not undertake and specifically
disclaims any obligation to publicly release the results of any
revisions, which may be made to any forward-looking statements to
reflect events or circumstances after the date of such statements
or to reflect the occurrence of anticipated or unanticipated
events.
About Community First Bancshares,
Inc.
The Company is a federal corporation based in Covington,
Georgia. The Company’s banking subsidiary, Newton Federal Bank,
opened in 1928 and currently operates a full-service office in
Atlanta, Georgia, two full-service offices in Covington, Georgia, a
loan production office in Braselton, Georgia, and a loan production
office serving the Alpharetta and Cumming, Georgia markets.
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Edward J. Cooney Chief Executive Officer (678) 742-9990
Community First Bancshares (NASDAQ:CFBI)
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