Community First Announces 3-for-1 Stock Split

Community First Bancshares Inc., holding company of Community First Bank of Harrison, announced a 3-for-1 stock split on July 21.

Shareholders will receive two additional shares for each share held of record on July 6.

W. King Gladden, chairman and CEO, said there are about 250 shareholders in the private company, most of whom live in Boone and Carroll counties.

“The stock split reflects the growth in value of the stock resulting from the strong support of our friends and partners in each of the communities we serve,” Gladden said.

In June, Gladden announced his intention to join Gary Head, former president of Arvest-Fayetteville, in a yet-to-be named Fayetteville bank, held by the newly formed White River Bancshares Co. Gladden will remain CEO of Community First Bancshares.

Community First Bank was chartered in 1997 and had total assets of $286 million as of March 31, up 17.7 percent from $243 million for the same period in 2002.

The bank operates five full-service offices in Harrison, Berryville and Eureka Springs, and recently opened a loan processing office in Fayetteville.