As consolidations within the banking industry became more prevalent in the late 1990s, many people moved their business to smaller banks. This gave founder Rick Peenstra the motivation to start a capital campaign to open a locally owned bank. Together with a group of investors, a capital campaign called “Friends Banking on Friends” was started. By December of 1997, the capital required to start a bank was raised and the first Chairman of the Board, Ty Haberling, was appointed.
Since the day Community First Bank opened, we have been committed to making a positive difference in the community. Over twenty years later, our history is still being written. We continue to build trust with local businesses and community partners—that we are going to be there for them by providing financial expertise when needed and assisting them in reaching their financial goals—now and for generations to come. It is through relationship banking that we continue to play a significant role in local economic growth and prosperity of our community.
Recognizing that many of our business owners have financial needs as they look toward selling or transferring their businesses to the next generation and managing the wealth they’ve worked so hard to accumulate, it became apparent that we lacked the tools to help them navigate the later stages of their financial lives. In 2016 the bank joined forces with HFG Trust, who specialize in providing wealth management, trust, and business services, giving us the ability to provide financial services for all stages of life.
As Community First looks ahead and plans for the future, we are dedicated to delivering the same high-quality customer service on which we were founded. Clients and the community will continue to be at the center of our business as we strive to be… Your Financial Partner for Life!