Question 1

What is Community Financial Services?

Accepted Answer

Community Financial Services (CFSB) is a commercial bank headquartered in Benton, Kentucky, with approximately $1.4 billion in assets. Known as "Western Kentucky's Community Bank," CFSB operates eight banking centers across the region, providing comprehensive financial services with over 220 employees committed to creating value for customers, team members, stockholders, and communities.

Question 2

When was Community Financial Services founded?

Accepted Answer

Community Financial Services Bank was originally chartered as the Bank of Benton on April 16, 1890, making it one of Kentucky's oldest banking institutions. The bank was founded by a group of county businessmen who recognized the need for banking services in Marshall County, particularly with the construction of the Paducah, Tennessee and Alabama Railroad beginning in 1889.

A bill to incorporate the bank was introduced in the Kentucky General Assembly in March 1890 and received final approval on April 16, 1890. The bank began with initial capital stock of $12,500 and $26,221.46 in assets at year-end 1890.

In 2007, the Bank of Benton changed its name to Community Financial Services Bank to reflect its expanded regional presence. The bank celebrated its 130th anniversary on April 16, 2020.

Question 3

Where is Community Financial Services headquartered?

Accepted Answer

Community Financial Services Bank is headquartered at 221 West 5th Street in Benton, Kentucky. Benton is located in Marshall County in western Kentucky, where CFSB was originally established as the first bank in the county.

Question 4

Where does Community Financial Services operate?

Accepted Answer

CFSB operates eight banking centers across four counties in Western Kentucky:
• Marshall County: Benton (headquarters), Aurora, and Draffenville locations
• McCracken County: Fifth Street location and McCracken Southside Banking Center
• Calloway County: Two locations including the Sycamore Banking Center
• Graves County: One banking center

The bank serves the broader western Kentucky region with deep roots in communities where it has operated for over 130 years. CFSB also maintains a Live Teller Machine in McCracken County's Lone Oak area.

Question 5

What services does Community Financial Services offer?

Accepted Answer

CFSB provides comprehensive banking and investment services, including:
• Personal Banking: Checking accounts, savings products, personal loans, and mortgage lending
• Business Banking: Commercial loans, business checking and savings accounts, cash management services
• CFSB Investments: Brokerage services for retirement planning, college funding, life insurance, and wealth management
• Real Estate Lending: Residential and commercial real estate financing with approximately $568 million in real estate-secured loans
• Commercial and Industrial Lending: Business financing solutions with approximately $94 million in commercial and industrial loans
• Digital Banking: Online banking platforms accessible through www.yourlifeyourbank.com

With $1.26 billion in deposits and approximately $965 million in net loans and leases, CFSB maintains a strong lending portfolio focused on supporting local economic development.

Question 6

What makes Community Financial Services unique?

Accepted Answer

CFSB stands out for its extraordinary longevity and deep community roots. As the first bank established in Marshall County in 1890, CFSB has witnessed and supported the region's growth for over 134 years—a remarkable achievement in the banking industry.

The bank has demonstrated consistent growth, expanding from humble beginnings with $26,221.46 in assets to over $1.4 billion today. This growth has been both organic and strategic, including the 1987 acquisition of Calvert Bank, which was later fully incorporated into CFSB operations.

CFSB's commitment to community involvement is exemplified by initiatives like the annual Watermelon Bust (started in 1974) and its 2010 acquisition of lifetime naming rights to the CFSB Center at Murray State University. The bank actively supports youth programs, education initiatives, community development, and arts organizations throughout western Kentucky.

The bank operates with trust powers granted by regulators, though not currently exercised, and employs over 220 team members dedicated to personalized service. CFSB Investments was formed in 1985 to provide comprehensive wealth management services.

Question 7

What type of financial institution is Community Financial Services?

Accepted Answer

Community Financial Services Bank is a State-Chartered Commercial Bank with a commercial lending specialization. The bank is regulated by the Federal Reserve and operates as a member of the Federal Reserve System.

As a community bank with over 130 years of history, CFSB exemplifies the community banking model—locally owned, locally operated, and deeply invested in the economic vitality of western Kentucky. This structure allows CFSB to make lending decisions locally, maintain long-term customer relationships spanning generations, and prioritize community needs over distant shareholder demands. The bank's mission emphasizes creating value for all stakeholders: customers, team members, stockholders, and the communities it serves.

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