Community First Bank & Trust, which has been on a slim-down push to help it reach regulators' demands for more capital, posted a second-quarter profit of $98,000. That was up from $62,000 in the spring of 2012. Net interest income fell by some $900,000 from the year before — the Columbia-based bank ended the quarter with assets of $467 million, down 18 percent from mid-2012 — but execs were able to trim almost $700,000 in costs and didn't take a loan loss provision during the quarter.
Community First's leadership team has been steadily whittling down its post-recession capital gap and now needs "only" another $5.1 million to get to the FDIC's target for that metric. Search here for "7.45%" to see all the ratios.