Bank hosts meeting
The Messenger 05.19.08
First State Bank recently hosted its annual shareholders meeting of Community First Bancshares Inc.
R. Newell Graham, chairman of the Community First Bancshares Inc. board of directors, called the meeting to order, declared a quorum for business and welcomed all guests.
John C. Clark, president and CEO of Community First Banc-shares Inc., reported an overview of the performance and financial trends of First State Bank during 2007.
He acknowledged the April financials having exceeded $1 billion in total assets and also emphasized the daily emphasis on customer service.
Clark outlined the measures of success over the past year with increases in quality loans and shareholder equity. He also recognized the strong contributions of the divisions and subsidiaries of the corporation, namely First State Mortgage, First Auto, First State Insurance, First State Finance, First State Ag Services and First State Investment Center.
Shareholders elected as directors of Community First Bancshares Inc. for the next 12 months included Chris Bell, Bob Cartwright, John C. Clark, David Critchlow Jr., Nick Dunagan, Keith Fowler, Newell Graham, Tony Gregory, Chris Kirkland, Mike McWherter, John Miles, Terry Oliver, Jeff Perkins, Joe Porter, R.D. Robinson, Bill Simrell, Mike Swaim, Will Wade, Bart White and Jimmy R. White.
Clark expressed appreciation to the owners and employees for the support and contributions made throughout the years that have enabled the company to celebrate the 120th anniversary of the bank charter and to continue pursuing additional growth and profit improvement opportunities.
Van Swaim was recognized for his many years of service and presented two plaques due to his retirement from the board. One plaque was presented by Cartwright on behalf of First State, thanking him for all of his involvement. The second plaque was presented by Sam Lewallen, community bank president of First State Bank in Martin, for Swaim’s active role in the growth and success of First State overall, but more specifically his involvement with the local entities.
Swaim was recognized for his leadership in cohesively bringing together two bank boards when the company merged all of its bank’s charters in 2003. He was also commended and recognized for his community involvement and support throughout the years.
First State Bank has 28 full-service banking locations in 22 communities throughout West and Middle Tennessee. It is owned by Community First Bancshares Inc., a holding company headquartered in Union City, which also operates a mortgage company, an insurance company, a trust services division, a specialized ag services division, an employee benefits division, investment services, a consumer finance company and an in-direct auto financing division at various locations across the state.
The banking company has offices in Davidson, Dyer, Gibson, Haywood, Henderson, Knox, Madison, Obion, Robertson, Shelby, Sumner, Tipton and Weakley counties. Its metropolitan markets include Collierville, Gallatin, Goodlettsville, Hender-sonville, Jackson, Knoxville and Nashville.