The Bank of Nashville Announces Leasing Company Investment

Business Wire, May 5, 1999

NASHVILLE, Tenn.--(BUSINESS WIRE)--May 5, 1999--

The Bank of Nashville, a wholly owned subsidiary of Community Financial Group, Inc. (NASDAQ: CFGI), today announced that it has entered into a Stock Purchase Agreement to acquire the majority ownership in Machinery Leasing Company of North America, Inc., subject to required approvals from bank regulatory authorities. Headquartered in Nashville, Machinery Leasing Company operates throughout the south and mid-west.

"Machinery Leasing Company is a particularly attractive investment for The Bank because it complements our business banking activities and allows us to offer leasing as a financing option to both our current and prospective customers," said Mack S. Linebaugh, Jr., President and CEO of The Bank of Nashville.

Machinery Leasing Company primarily leases heavy manufacturing equipment and will likely expand the types of equipment leasing offered.

"Our immediate plans are to broaden our scope of potential lessors and provide existing customers of The Bank of Nashville with an additional product," said Rick Wilson, executive vice president of Machinery Leasing Co. "Whereas we have previously focused on the manufacturing sector, we expect to quickly become a player in other areas as well," Wilson added.

Community Financial Group, Inc. is a bank holding company with assets of approximately $250 million headquartered in Nashville, Tennessee. The Company provides banking services through its subsidiary, The Bank of Nashville, with offices in Davidson, Williamson and Sumner counties.