Citizens First Corporation to Acquire Commonwealth Mortgage and Southern Kentucky Land Title

December 4, 2002

BOWLING GREEN, Ky., PRNewswire-FirstCall/ -- Citizens First Corporation (OTC Bulletin Board: CZFC - News) and its wholly owned subsidiary, Citizens First Bank, plans to acquire Commonwealth Mortgage of Bowling Green, Inc., and Southern Kentucky Land Title, Inc., a move that strengthens their mortgage lending presence in the Bowling Green market. Commonwealth originates 1-4 family residential mortgages for sale to the secondary mortgage market, while Southern provides title insurance agency services for real estate purchase contracts.

"Commonwealth Mortgage and Southern will add a new dimension to Citizens First, enhancing our ability to serve our customers' mortgage needs," said Citizens First President and Chief Executive Officer Mary D. Cohron. "Current Commonwealth customers will also have the added benefit of the services of a full service community bank. Citizens First's acquisition of Commonwealth and Southern is another step in accomplishing our goal of bringing the best banking products and services to the Bowling Green area."

The definitive agreement calls for Citizens First Bank to acquire all the outstanding stock of Commonwealth and of Southern. The transaction is subject to receipt of regulatory approvals and normal contractual conditions being met and is expected to be completed by January 2, 2003.

"We are excited and pleased to be joining Citizens First," said Scott T. Higdon and Mark A. Vaughn, owners of Commonwealth and Southern. "We look forward to enhancing Citizens First's mortgage lending presence in the Bowling Green area, and are excited at the full service bank products that we can offer our mortgage customers."

Citizens First Bank is a wholly owned subsidiary of Citizens First Corporation, a $108 million bank holding company headquartered in Bowling Green, Kentucky.

Source: Citizens First Corporation


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro is the nation's leading provider of closing and title software, consistently pushing the technological envelope to pioneer the most powerful and comprehensive closing and title automation software on the market. SoftPro's Award-Winning Software combines cutting-edge technology with outstanding support to make your business more productive, efficient and boost your revenue. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.