January 22, 2021

On January 20, 2021, Community First Bancshares, Inc., Covington, Georgia, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering. A total of 3,701,509 shares of common stock were sold in the subscription offering at a price of $10.00 per share. In connection with the conversion, Community First Bancshares, Inc. was succeeded by a new holding company named “Affinity Bancshares, Inc.” and its wholly-owned subsidiary, Newton Federal Bank, changed its name to “Affinity Bank.”

Luse Gorman served as legal counsel to Affinity Bancshares, Inc. in the conversion and offering. The Luse Gorman team included Thomas P. Hutton, Ned Quint and Ellie Cook.

Affinity Bancshares, Inc. has approximately $888.2 million in total assets. Affinity Bank operates three full-service offices in Atlanta and Covington, Georgia and two loan production offices serving the Braselton, Alpharetta and Cumming, Georgia markets.

Since 2000, Luse Gorman has been the leading law firm in the United States in mutual holding company transactions and mutual-to-stock conversions, based on number of transactions. Click here to learn more about our capital markets and corporate finance services.