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In the News
February 13, 2012 — Press Release
Community Bank & Trust today commented on the bank’s December 31, 2011, Report of Condition. President and CEO Debbie Small, who has led the bank since its opening in 1999, is bullish on the condition and future of Community Bank & Trust.
“Like most community banks,” said Ms. Small, “Community Bank & Trust mirrors the stresses of our customers. The economic downturn has adversely impacted some of our borrowers, but our board and management have always planned for contingencies. Our bank’s capital and reserves are strong, and we are certainly liquid. While our earnings are not what we want them to be for 2011 because we recognized impairments in a few loans, we fully expect 2012 to be significantly better.”
Ms. Small also reported that the bank has hired veteran banker, Wayne Whisman, to head the bank’s credit administration function. “As Chief Credit Officer, Mr. Whisman will be tasked with assuring that going into 2012 we are performing at the highest possible level with respect to our underwriting and credit administration,” said Ms. Small.
Community Bank & Trust is a Tennessee-chartered commercial bank that is regulated and examined by the Tennessee Department of Financial Institutions and the Federal Deposit Insurance Corporation. It is also audited by both internal and external auditors. Its deposits are insured up to $250,000 per account by the FDIC. The bank meets the regulatory tests to be designated a “well-capitalized” bank. As of December 31, 2011, the bank had assets totaling $216,923,000, most of which are loans to businesses and individuals in the bank’s market, according to Ms. Small. “Our equity capital remains strong, despite some charge-offs because of loan impairments,” said Ms. Small. “We hope and trust that our troubled borrowers, who are our neighbors in our markets, will see great improvements in their businesses in 2012.” Total shareholders’ equity at year-end 2011 was $21,471,000.