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

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