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Community 1st Bank chairman/CEO to raise stake to over 12%

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Community 1st Bank chairman/CEO to raise stake to over 12%

The chairman and CEO of Community 1st Bank, David Bobbitt, sought regulatory approval to acquire 26,723 shares in the Post Falls, Idaho-based company, according to an interagency change-in-control notice recently obtained by S&P Global Market Intelligence.

The shares will be purchased at $9.50 each, or a total of $253,868.50.

If approved, Bobbitt's ownership will increase to 137,340 shares, or a 12.11% stake, from 110,614 shares, or a 9.99% stake.