Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers
As previously disclosed, on January 10, 2020, Community First Bancshares, Inc.
(the "Company") and its wholly-owned subsidiary, Newton Federal Bank, completed
their acquisition of ABB Financial Group, Inc. and its wholly-owned subsidiary,
Affinity Bank. Effective upon the completion of the acquisition, Kenneth D.
Lumpkin, the former Executive Vice President and Chief Lending Officer of the
Bank, was named Senior Vice President of the Bank.
On January 13, 2020, Mr. Lumpkin provided written notice to the Bank of his
intention to terminate his employment for "Good Reason" pursuant to the terms of
the Employment Agreement, dated as of September 1, 2018, between the Bank, the
Company and Mr. Lumpkin, as a result of the new appointment. His termination of
employment would be effective no later than 30 days from the date of Mr.
Lumpkin's notice.
Item 9.01. Financial Statements and Exhibits
Not applicable
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