News

Dear valued customer,

Over the past several weeks, we have had two significant bank closures that have been heavily publicized, increasing economic uncertainty throughout the country as well as within our communities and amongst our customers.

I want to provide perspective regarding these closures and the differences between these institutions and Community First Bank.

CFB is a community bank that has served its customers for over 150 years by providing financial services to meet the needs of our diverse consumer, business, and agricultural customer base. Our dedication to the success of our communities and customers has helped build the strong core relationships we currently have today and will continue to cultivate into the future.

The banks that were closed were very aggressive, fast-growing “specialty” banks that catered to startup technology and venture capital businesses. This led to a “shaky foundation” based on large, noncore uninsured deposit concentrations that disappeared quickly as the economic environment changed eventually resulting in the bank “run” that ensued and caused the closure of the banks.   

Community First Bank maintains a solid “core” foundation based on a strong capital and liquidity position built on long-term customer relationships. These relationships will continue to allow us to help our communities grow and prosper well into the future.

If you would like to talk through the current banking challenges or review your accounts, please give me a call.

Thank you for your continued business,
Dan Klan, President & CEO
608-495-6166