Community First Bank, Financial Information

About Community First Bank

 Address:
925 Wisconsin Avenue
Boscobel, WI
Grant County, Wisconsin
 Established:
Jan 1871
 Number of domestic offices:
9
Agriculture bank
Total assets$498M
Net income$6M
Net income, quarterly$1M
Total deposits$421M
Domestic deposits$421M
Equity capital$58M
ROA1.33%
ROAQ, quarterly1.02%
ROA, pretax1.02%
ROAQ, quarterly, pretax1.03%
ROE11.14%
ROEQ, quarterly8.77%
UpdatedMay 20, 2021

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.

Community First Bank (CFB) traces its beginnings to 1871 when the First National Bank of Boscobel was organized by Dwight Parker. Its premises were on the second floor of the present Unique Cafe. Following lending difficulties, the bank was succeeded in 1879 by Pipkin Bank, a private bank. Under new state laws prohibiting private banks, in 1903 there was a name change to Pipkin State Bank. In 1908 Messrs. Kronshage and Betz purchased Pipkin's stock. In 1912, premises were acquired at 1006 Wisconsin Avenue and in 1913 the name was changed to Central State Bank.

Another predecessor bank, State Bank of Boscobel, was incorporated in 1892 by Matt and Will Pittman, druggists, in a corner of the front of their store (now Timber Lane Coffee and formerly the Cornerstone Bar). In 1905 Louis, John, and F.W. Ruka purchased the Pittman interests.

In 1907, the business moved to new quarters across and down the street (now Von Haden Insurance). Central State and State Bank came together through consolidation in 1930 during depression years. At that time Central State Bank office on west Wisconsin Avenue was renovated to house the consolidated operations. In the middle of the 1960's Robert Morrison, Jr. and his family became the dominant shareholders with the Morrison family continuing its ownership to the present time. That location carried the bank until the early 1970's when an expansion next door and renovation was completed. The present bank building was completed in March 1994, and the former quarters sold to the City of Boscobel to be used as City Hall. Also in 1994, Boscobel State Bank changed its name to Community First Bank.

Community First Bank currently has offices in Boscobel, Muscoda (acquired in 1942), Richland Center (opened in 1995), Reedsburg (opened in 2000), and Baraboo (opened in 2003).

Boscobel
925 Wisconsin Avenue
Boscobel, WI 53805
(Ph.) 608-375-4117
(Fax) 608-375-4119

Muscoda
101 North Wisconsin Avenue
Muscoda, WI 53573
(Ph.) 608-739-3154
(Fax) 608-739-4081

Richland Center
1200 Sextonville Road
Richland Center, WI 53581
(Ph.) 608-647-4029
(Fax) 608-647-2951

Reedsburg
115 East Main Street
Reedsburg, WI 53959
(Ph.) 608-524-5395
(Fax) 608-524-5216

Baraboo
129 8th Avenue
Baraboo, WI 53913
(Ph.) 608-356-2552
(Fax) 608-356-7941