The Bank of Nashville is Ready for Y2K

Business Wire, August 11, 1999

NASHVILLE, Tenn.--(BUSINESS WIRE)--Aug. 11, 1999--

Anne J. Cheatham, Senior Vice President of The Bank of Nashville, today reported that The Bank is Year 2000 ready. As reported in The Bank's Year 2000 Readiness Disclosure, all systems are deemed to be Y2K compliant and all mission critical systems have undergone extensive testing with successful results. The Bank also engaged an outside party to review its testing process and results to further validate Year 2000 compliance of its systems.

"At The Bank of Nashville, Year 2000 means 'Business as Usual'," said Cheatham. "Our main focus is to make sure our customers feel confident in banking with us - now and through the year 2000." In addition to serving as The Bank's Y2K coordinator, Cheatham has conducted Y2K training on a national level for others in the banking industry and co-authored a book on the subject.

On Aug. 2, federal bank, thrift and credit union regulators announced that 99.1 percent of federally insured financial institutions have received "satisfactory" ratings, the highest possible rating. Based on these reviews, regulators are confident that financial institution customers will be able to conduct business as usual both before and after Jan. 1, 2000.

"The Bank of Nashville has been very proactive in educating our customers about the Y2K issue," said Anne B. Livingston, bank vice president. "As a part of our customer outreach efforts, we have recently developed a large newspaper advertisement featuring all of our associates with the message, 'We're Ready for Y2K'. This ad will appear in the community papers where our branches are located as well as a Sunday issue of the Tennessean," concluded Livingston.

A recent Gallup poll found that over 80 percent of US adults reported that they had seen or heard about the Y2K issue. Additionally, customers with more information about Y2K issues are more likely to be planning to take rational and prudent precautions and less likely to be planning to take drastic steps to prepare for Y2K.

The Bank of Nashville is a wholly owned subsidiary of Community Financial Group, Inc. (Nasdaq:CFGI) a bank holding company with assets of approximately $281 million headquartered in Nashville, Tenn. The Bank of Nashville operates branch offices in Davidson, Williamson and Sumner counties.