Community Bank marks best year
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Community Bancshares of Mississippi, Inc., the holding company for Community Banks throughout Mississippi, enjoyed its best year ever in 2004 as shown in its fourth quarter financial statement released today.

For the year ending December 31, 2004, earnings were $13.6 million as compared to $11.2 million last year, a 21 percent increase. Assets climbed from $1.39 billion in the fourth quarter of 2003 to $1.67 billion in the fourth quarter of 2004, a 20 percent increase. Deposits jumped 21 percent, from $1.17 billion in 2003 to $1.42 billion in 2004. Loan growth for the bank climbed 17 percent, increasing from $1.01 billion in 2003 to $1.18 billion this year. Total capital rose from $84.9 million last year to $91.6 million this year.

“We had an excellent year in 2004 which was directly attributed to the dedication of our staff,” said Thomas W. Colbert, chairman of the board. “Because of their hard work and dedication, we are looking forward to an even better 2005.”

Community Bancshares of Mississippi, Inc., with 31 offices in Mississippi – from the Tennessee border to the Gulf Coast – as well as a full-service bank opening in East Memphis later this month, has more than 500 staff members. DBJ