 Shareholder Meeting
June 13, 2013
Community Financial Shares, Inc.
Exhibit 99.1 |
 2
Shareholder Meeting 6/13/2013
Forward-Looking Statements Disclaimer (cont.)
This presentation contains certain forward-looking statements, within the
meaning of the Private
Securities Litigation Reform Act of 1995, with respect to the financial
condition, results of operations, plans, objectives, future
performance and business of the Company. Forward-looking statements,
which may be based upon beliefs, expectations and assumptions of the
Company’s management and on information currently available to
management, are generally identifiable by the use of words such as
“believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,”
“should” or other similar expressions. Additionally, all
statements in this presentation, including forward-looking
statements, speak only as of the date they are made, and the Company undertakes no
obligation to update any statement in light of new information or future
events. The Company’s ability to predict results or the actual effect of future
plans or strategies is inherently
uncertain. Factors which could have a material adverse effect on the operations
and future prospects
of the Company and its subsidiaries include, but are not limited to, the
following: (i) the strength of
the United States economy in general and the strength of the local economies in
which the Company
conducts its operations which may be less favorable than expected and may result
in, among other
things, an escalation in problem assets and foreclosures, a deterioration in the
credit quality and
value of the Company’s assets, especially real estate, which, in turn would
likely reduce our customers’
borrowing power and the value of assets and collateral associated with our
existing loans; (ii) the
effects of, and changes in, federal, state and local laws, regulations and
policies affecting banking,
securities, insurance and monetary and financial matters; (iii) the success and
timing of our business strategies and our ability to effectively
carry out our business plan and capital restoration plan; (iv) an
inability to meet our liquidity needs; (v) the effect of changes in accounting
policies and practices, as may be adopted from time-to-time
by bank regulatory agencies, the Securities and Exchange
Commission, the Public Company Accounting Oversight Board, the Financial
Accounting Standards Board or other accounting standards setters;
|
 3
Shareholder Meeting 6/13/2013
Forward-Looking Statements Disclaimer
(vi) the effects of, and changes in, trade, monetary and fiscal policies and
laws, including interest rate policies of the Board of Governors of the
Federal Reserve System, inflation, interest rate, market and monetary
fluctuations; (vii) the risks of changes in interest rates on the level and composition of deposits,
loan demand and the values of loan collateral, securities and interest sensitive
assets and liabilities; (viii) our ability to comply with the
requirements of our regulatory consent order and the mandatory provisions
of 12 U.S.C. § 1831o and 12 C.F.R. § 325 (subpart B), as well as the
effect of further changes to our regulatory ratings or capital levels
under the regulatory framework for prompt corrective action or the
imposition of additional enforcement action by regulatory authorities upon the
Bank or the Company as a result of our inability to comply with
applicable laws, regulations, regulatory orders and agreements; (ix) Our
ability to effectively manage market risk, credit risk and operational risk; (x) the ability of the Company
to compete with other financial institutions as effectively as the Company
currently intends due to increases in competitive pressures in the
financial services sector; (xi) the inability of the Company to obtain
new customers and to retain existing customers; (xii) the timely development and acceptance of
products and services including services, products and services offered through
alternative delivery channels such as the Internet; (xiii) technological
changes implemented by the Company and by other parties, including third
party vendors, which may be more difficult or more expensive than anticipated or
which may have unforeseen consequences to the Company and its customers; (xiv)
the ability of the Company to develop and maintain secure and reliable
electronic systems; (xv) the ability of the Company to retain key
executives and employees and the difficulty that the Company may experience in replacing key
executives and employees in an effective manner; (xvi) business combinations and
the integration of acquired businesses which may be more difficult or
expensive than expected; (xvii) the costs, effects and outcomes of
existing or future litigation; and (xviii) the ability of the Company to manage the risks
associated with the foregoing as well as anticipated. These risks and uncertainties should be considered in evaluating
forward-looking statements and undue reliance should not be placed on
such statements. Additional information concerning the Company and its
business, including other factors that could materially affect the
Company’s financial results, is included in the Company’s
filings with the Securities and Exchange Commission, including in the Section entitled “Risk
Factors” in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2012. |
 4
Shareholder Meeting 6/13/2013
Financial Overview
Eric Wedeen
Chief Financial Officer |
 5
Shareholder Meeting 6/13/2013
A Tale of Two Half-Decades
Financial Measure
Net Income
(before extraordinary items)
$10.1mm
Margin % (range)
3.63% -
4.03%
Provision for Loan Losses
$ 0.93mm
Legal Fees
$ 0.38mm
OREO expenses & write-downs
$ 0.08mm
FDIC Premia
$ 0.37mm
Ave Texas Ratio
7.6%
Loan Growth during period
52.8%
Deposit Growth during period
17%
Financial Measure
Net Income
(before extraordinary items)
$
-20.2mm
Margin % (range)
3.13% -
3.64%
Provision for Loan Losses
$ 20.5mm
Legal Fees
$ 1.28mm
OREO expenses & write-downs
$ 4.67mm
FDIC Premia
$ 4.14mm
Ave Texas Ratio
133.8%
Loan Growth during period
-8.8%
Deposit Growth during period
25.1%
Pre-Recession (2003-2007)
Recessionary Period (2008-2012) |
 6
Shareholder Meeting 6/13/2013
First Quarter Update
Community Financial reported a $2.3 million loss for 1Q13, primarily
driven by provision expenses and OREO write-downs,
minimizing potential future credit charges. The 1Q credit
charges included provision expense of $1 million, net charge-offs of $366
thousand, OREO write-down of $842 thousand, loss on OREO sale of
$320 thousand, and other OREO expenses of $162 thousand.
Importantly, the company believes these to be the last major piece of
credit expenses related to the previously identified problem
assets. These 1Q13 charges will allow the company to
accelerate the disposition of these assets.
The first quarter credit charges bring the cumulative credit cost
since October 2011 to $14.7m, in line with the downside
scenario in the third-party loan review performed in October 2011.
The credit charges will clear the way for nominal credit expenses for
the rest of the year, which in turn should allow the company to
be near break-even in the 2Q13 and to post
break-even/modest profit quarters for the second half of
2013. Nonperforming assets declined by $2.5 million to
$14.3 million, or 4.03% of assets. The extra provision expenses
increased the ALLL by $676 thousand to $3.7 million, or 1.85% of
loans. The deferred tax asset(DTA) remains off the balance sheet.
The usable portion of the DTA is $6.7 million.
|
 7
Shareholder Meeting 6/13/2013
Historical
Income
Statement
-
Quarterly
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
1Q13
INTEREST INCOME
3,132
2,922
3,057
3,025
2,954
2,970
2,930
2,876
2,812
2,758
2,719
2,669
2,604
Interest on investment securities
475
445
340
308
353
390
363
321
333
340
325
292
277
Other interest income
12
21
30
32
31
29
27
34
36
39
36
34
42
Total interest income
3,619
3,388
3,427
3,366
3,338
3,389
3,321
3,230
3,181
3,137
3,080
2,996
2,923
INTEREST EXPENSE
Deposits
836
746
678
604
555
518
487
481
466
451
426
411
401
Borrowings
128
127
109
105
100
99
100
99
102
98
90
20
17
Subordinated debentures
17
17
20
18
17
20
17
18
18
18
18
18
39
Total interest expense
981
890
807
727
672
636
605
598
586
567
534
449
457
NET INTEREST INCOME
2,638
2,498
2,620
2,639
2,666
2,753
2,716
2,633
2,595
2,570
2,546
2,546
2,466
Provision for loan losses
240
4,425
110
3,565
173
2,521
173
3,304
180
777
180
330
1,030
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES
2,398
(1,927)
2,510
(926)
2,493
232
2,542
(671)
2,415
1,793
2,366
2,216
1,436
NONINTEREST INCOME
Service charges on deposit accounts
129
133
121
117
100
115
108
100
97
94
98
90
86
Gain on sale of securities
0
0
112
27
104
0
0
0
0
141
0
839
7
Gain on sale of loans
166
184
219
255
226
114
126
255
196
184
229
337
482
Other
172
175
226
248
261
277
272
391
261
284
255
632
229
Total noninterest income
467
493
678
648
691
506
506
746
554
703
582
1,898
805
NONINTEREST EXPENSE
Salaries and related benefits
1,411
1,310
1,456
1,398
1,493
1,370
1,402
1,368
1,404
1,408
1,548
1,526
1,596
Occupancy & Equipment
347
324
348
356
350
343
344
341
331
318
313
313
327
Foreclosure & OREO
86
325
76
531
68
442
167
665
299
392
166
1,575
1,324
Other
969
1,116
1,048
1,178
1,167
1,200
1,249
1,426
1,236
1,329
1,306
1,281
1,257
Total noninterest expense
2,813
3,075
2,928
3,464
3,078
3,354
3,162
3,800
3,270
3,447
3,333
4,695
4,505
Income before provision for taxes
52
(4,509)
260
(3,742)
106
(2,616)
(113)
(3,726)
(301)
(951)
(385)
(580)
(2,264)
Tax provision
(58)
(1,824)
30
(1,514)
(23)
(347)
(112)
5,139
37
(63)
(30)
301
45
NET INCOME
110
(2,685)
230
(2,229)
129
(2,269)
(1)
(8,865)
(338)
(888)
(355)
(881)
(2,309)
Preferred Dividends
109
110
112
112
111
111
113
113
112
113
114
3,903
0
NET INCOME AVAILABLE TO COMMON
1
(2,795)
118
(2,341)
18
(2,381)
(114)
(8,978)
(450)
(1,001)
(469)
(4,784)
(2,309)
PRE-TAX PRE-CREDIT COST INCOME*
378
241
334
327
243
347
227
244
178
77
(39)
86
84
*Excludes securities gains and foreclosure & OREO costs
Loans, including fees
|
 8
Shareholder Meeting 6/13/2013
Credit Overview
Jeffrey Vock
Chief Credit Officer |
 9
Shareholder Meeting 6/13/2013
Loan
Portfolio
Detail
–
Loan
Mix
Total Loan Portfolio: $202 million at 3/31/13 and $233 million at
6/30/09 Loans by Type
3/31/13
Loans by Type
6/30/09
Repositioning of the portfolio has resulted in a 92% reduction of
construction and development loans since 2007
Extensive management knowledge of market
Loan portfolio is diversified by type with no significant
concentrations Outstanding HELOC loans totaled $49.3 million, or
54.7% of the total commitments of $90.1 million $32.8
million
of
the
commitments
were
related
to
1
st
lien
HELOCs
with
average
LTV
of
44.0%
$57.3
million
of
the
commitments
were
related
to
2
nd
lien
HELOCs
with
average
LTV
of
70.0%
9
Shareholder Meeting 6/13/2013 |
 10
Loan Portfolio Detail –
Over Time
($000's)
2006
2007
2008
2009
2010
2011
1Q12
2Q12
3Q12
4Q12
1Q13
Construction & land development
27,903
39,016
31,247
21,346
15,435
4,363
2,442
1,881
2,487
3,617
3,233
Owner occupied CRE
67,021
67,268
60,111
66,304
62,519
62,905
61,431
60,670
62,006
62,711
62,289
Non-owner occupied CRE
14,376
18,931
21,015
28,215
26,200
25,965
27,055
28,516
28,781
28,144
28,843
1-4 family residential
21,462
23,546
20,074
28,589
27,783
21,842
21,137
19,648
22,582
28,147
26,087
HELOC
38,213
49,893
59,941
62,418
66,372
59,325
57,624
56,619
54,446
50,574
49,266
Multifamily residential
4,200
1,547
3,000
5,004
5,757
5,653
5,190
5,477
5,451
5,854
6,005
C & I
26,319
28,227
27,200
25,992
25,666
26,302
25,560
25,722
26,276
24,445
24,943
Consumer & other
1,940
1,948
1,804
1,692
1,410
1,363
1,405
1,330
1,294
1,312
1,298
Total Loans
201,434
230,376
224,392
239,560
231,142
207,718
201,844
199,863
203,323
204,804
201,964
10
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2006
2007
2008
2009
2010
2011
1Q12
2Q12
3Q12
4Q12
1Q13
Consumer & other
C & I
Multifamily residential
HELOC
1-4 family residential
Non-owner occupied CRE
Owner occupied CRE
Construction & land
development
Shareholder Meeting 6/13/2013 |
 Shareholder Meeting 6/13/2013
Loan Portfolio Detail
Commercial Real Estate Mix: $91 million at 3/31/13
Loans by Type
The majority of the CRE portfolio is performing well
Average loan amount is $497 thousand
Weighted average LTV is 65.0%
Owner -occupied CRE makes up approximately 68.4% of the total CRE
portfolio 11 |
 12
Shareholder Meeting 6/13/2013
Loan Charge-offs
1Q2013 Charge-offs: $366 thousand
Cumulative 2007 to 1Q2013 Charge-offs: $20.0 million
40.9% of the charge-offs since 2007 have come from the construction
portfolio. However, construction
loans
have
shrunk
to
only
$3.6
million
now
–
we
believe
this
translates
into
limited exposure to additional credit losses in this category.
($000's)
2007
2008
2009
2010
2011
2012
1Q13
Cumulative
C & D
-
$
$125
$773
$2,733
$2,813
$1,740
-
$
$8,184
Farm
-
-
-
-
-
-
-
-
HELOC
-
-
-
141
814
1,031
242
2,228
1 - 4 Family
-
-
-
814
934
1,190
-
2,938
Multi-Family
-
-
-
-
194
241
-
435
CRE
-
-
-
530
140
2,705
122
3,497
C & I
12
771
5
1,281
109
445
-
2,623
Consumer & Other
2
9
59
12
8
11
2
103
Total Charge-offs
$14
$905
$837
$5,511
$5,012
$7,363
$366
$20,008 |
 13
Shareholder Meeting 6/13/2013
Loan Portfolio Detail
Reduced Construction & Development Portfolio
Represented $3.2 mm or 1.6% of total loan portfolio as of 3/31/13
No C&D loans are non-performing at 3/31/13
Accounted for $8.2 mm or 40.1% of cumulative charge-offs
(2007 through 1Q13) C&D portfolio has declined 91.7% since
2007 |
 14
Shareholder Meeting 6/13/2013
Credit Quality Details
2006
2007
2008
2009
2010
2011
2012
1Q13
Nonperforming Assets ($000)
Nonaccrual Loans
25
$
62
$
2,725
$
14,555
$
20,294
$
13,799
$
7,426
$
6,699
$
90 + Days Delinquent
644
635
32
480
-
-
342
119
OREO
-
-
189
2,396
3,008
5,322
9,012
7,465
Real Estate Held For Investment
-
-
-
-
4,318
3,942
-
-
Total NPAs
669
$
697
$
2,946
$
17,431
$
27,620
$
23,063
$
16,780
$
14,283
$
Classified Loans
39,912
32,497
19,788
7,685
8,744
Classified Assets
42,308
$
39,823
$
29,052
$
16,697
$
16,209
$
Performing TDRs
-
$
-
$
1,866
$
9,899
$
4,132
$
6,522
$
3,708
$
3,109
$
30-89 Days Past Due
1,615
$
2,173
$
444
$
5,448
$
4,381
$
1,444
$
1,270
$
1,876
$
Loan Loss Reserve ($000)
Loan Loss Reserve -
Beginning
1,381
$
1,549
$
1,970
$
3,300
$
4,813
$
7,680
$
8,853
$
3,032
$
Charge-offs
20
14
905
837
5,511
5,012
7,363
366
Recoveries
23
15
20
6
38
15
75
12
Provision
165
420
2,215
2,344
8,340
6,171
1,467
1,030
Loan Loss Reserve -
Ending
1,549
$
1,970
$
3,300
$
4,813
$
7,680
$
8,853
$
3,032
$
3,708
$
Asset Quality Ratios (%)
NPAs (+90 days)/Assets
0.25
0.23
1.00
5.10
7.94
7.01
4.72
4.03
NPAs (+90 days)/Loans & OREO
0.33
0.30
1.32
7.26
11.67
10.69
8.13
6.87
NPLs/Loans
0.01
0.03
1.22
6.12
8.85
6.68
3.76
3.34
Reserves/NPLs
NM
NM
121.10
33.07
37.84
64.16
40.83
55.35
Loan Loss Reserves/Gross Loans
0.77
0.86
1.47
2.01
3.35
4.29
1.54
1.85
Loan Loss Reserves/NPAs
231.54
282.64
68.45
17.61
32.96
46.30
18.07
25.96
NCOs/Average Loans
0.00
0.00
0.39
0.36
2.40
2.36
3.71
0.71
Loan Loss Provision/NCO
NM
NM
250.28
281.73
152.38
123.49
20.13
290.96 |
 15
Shareholder Meeting 6/13/2013
Adversely Classified Assets
Adversely Classified Assets at 3/31/13
$16.2 million
Nearly one-half of the nonperforming assets and classified assets
are in OREO, which allows for faster resolution as the bank has
ownership and control of the assets. 15
Shareholder Meeting 6/13/2013 |
 16
Shareholder Meeting 6/13/2013
Business Overview
Scott Hamer
Chief Executive Officer |
 17
Shareholder Meeting 6/13/2013
Update on Recent Events
In December 2012 Community Financial shares completed a $24 million
private placement
of
convertible
preferred
shares
and
common
shares.
The
conversion
price
of
the preferred shares and the price of the common shares was
$1.00. The transaction resulted in several high-profile bank
investors becoming shareholders of the Company, including the
Clinton Group and Wellington Management. The new capital allowed
Community Financial to repay the TARP preferred stock at a
discount of 55%. CFIS also repaid the holding company loan at a
discount of 31%. The new capital allows the Company to continue
its aggressive problem asset management
and
disposition
strategy
and
puts
it
in
a
position
to
pursue
removing
the
regulatory order later in 2013.
As a result of the transaction, 4 representatives of the new investors
joined the Board of Directors (including Don Wilson as Chairman)
and 5 legacy directors resigned. The new Board is now made up of
9 directors (4 new and 5 legacy). The new capital positioned the
bank to complete the credit cleansing process, resolve the
regulatory constraints and begin growing the franchise.
|
 18
Shareholder Meeting 6/13/2013
Potential Capital Enhancement
As
mentioned
in
our
prior
filings,
we
may
engage
in
a
concurrent
private
placement
offering to be closed after the consummation of the rights offering,
but we cannot comment on the status or potential outcome of that
process. |
  19
Shareholder Meeting 6/13/2013
Deposit Market Share –
Leading Community Bank In Market
2012
Rank
2011
Rank
Institution (ST)
2012
Number of
Branches
2012 Total
Deposits in
Market ($000)
2012 Total
Market Share
(%)
2011 Total
Deposits in
Market ($000)
2011 Total
Market
Share (%)
Glen Ellyn, IL
1
1
JPMorgan Chase & Co. (NY)
3
199,705
19.10
168,440
16.42
2
2
U.S. Bancorp (MN)
2
192,966
18.45
166,414
16.22
3
3
Community Financial Shares Inc (IL)
1
156,924
15.00
152,410
14.86
4
4
Bank of Montreal
1
76,614
7.33
83,281
8.12
5
6
Citigroup Inc. (NY)
1
74,646
7.14
73,995
7.21
6
7
Bank of America Corp. (NC)
1
71,233
6.81
73,254
7.14
7
8
Wintrust Financial Corp. (IL)
1
66,015
6.31
66,314
6.47
8
5
PNC Financial Services Group (PA)
1
62,816
6.01
82,006
8.00
9
9
Inland Bancorp Inc. (IL)
2
56,376
5.39
63,611
6.20
10
10
Fifth Third Bancorp (OH)
1
35,830
3.43
36,822
3.59
Total For Institutions In Market
17
1,045,847
1,025,669
Wheaton, IL
1
1
JPMorgan Chase & Co. (NY)
7
964,558
44.25
882,180
42.50
2
2
Wintrust Financial Corp. (IL)
1
395,349
18.14
327,242
15.77
3
3
PNC Financial Services Group (PA)
3
171,696
7.88
197,338
9.51
4
4
Community Financial Shares Inc (IL)
3
156,052
7.16
139,648
6.73
5
5
Northern Trust Corp. (IL)
1
72,006
3.30
80,897
3.90
6
8
Bank of Montreal
1
62,632
2.87
61,861
2.98
7
7
Illinois State Bancorp Inc. (IL)
1
58,902
2.70
69,132
3.33
8
10
West Suburban Bancorp Inc. (IL)
2
58,882
2.70
50,592
2.44
9
9
Fifth Third Bancorp (OH)
1
58,194
2.67
59,547
2.87
10
11
Providence Bank (IL)
1
34,174
1.57
44,307
2.13
Total For Institutions In Market
28
2,179,941
2,075,512
Source: SNL Financial LLC / FDIC Summary of Deposits 6/30/12
|
 20
Shareholder Meeting 6/13/2013
Funding Overview –
Deposit Portfolio Snapshot
Deposit Mix –
3/31/13
Deposit Mix –
Rolling 8 Quarters
Total Deposits $324 million at 3/31/13
The company has continued to grow deposits despite the low cost of
funds and additional rate cuts implemented during March and
April The company was able to grow the deposit portfolio by $5.9
million in 1Q13 The Deposit mix is desirable, with a cost of
interest bearing deposits of 57 basis points, cost of total
deposits of 50 basis points, and cost of funds of 53 basis points for
1Q13 CDs represent 29.1%, down from 42.6% at 12/31/08; with
no brokered deposits Loan to deposit ratio at 3/31/13 was
62.4% Non-Interest
Checking
12%
Interest
Checking
23%
Savings
22%
MMDA
14%
CD <100k
16%
CD > 100k
13%
0
50,000
100,000
150,000
200,000
250,000
300,000
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
1Q13
CDARS
CD > $100k
CD < $100k
Money
Market
Savings
Interest
Checking
Non-Interest
Checking |
 21
Shareholder Meeting 6/13/2013
Strategy Overview
Don Wilson
Chairman of the Board |
 22
Shareholder Meeting 6/13/2013
December Investors’
Value Perspective
Attractive deposit base
Ability to resolve TARP and holding company note at a discount
Attractive demographics of market
Density of four existing branches
Credit issues somewhat compartmentalized
Seasoning of credit resolution process
Low loan/deposit ratio provides room to grow
Operational opportunities |
 23
Shareholder Meeting 6/13/2013
Strategic Priorities
Strengthen Capital Position and balance sheet structure
Cleanse credit portfolio (OREO and NPLs)
Resolve regulatory order
Implement new core operating system
Rationalize expense base
Drive revenue growth |
 24
Shareholder Meeting 6/13/2013
Key Strategies
Guiding Principles for Growth
Rigorous focus on core deposit growth.
Deposits generate most franchise value as it is product with most
“stickiness.” Improves stability of funding and
margin. How
customers
define
relationship
–
bank
will
do
so
as
well.
Organic growth from deposit –driven staff objectives and
incentives in the existing branches;
acquisitive
growth
through
pursuit
of
branch
purchases
whenever
possible.
Marketing critical to achieve growth in customer count, depth, and
retention. Develop a vigilant and disciplined sales pipeline
management throughout the organization. Minimize price-based
advertising. Service quality is necessary, but not sufficient,
condition for banks. |
 25
Shareholder Meeting 6/13/2013
Key Strategies (Continued)
Guiding Principles for Growth
Pursue a few niche customer categories:
Develop specialized skill set of bankers.
Use of seminar selling techniques within these niche categories:
Use “reflected reputation”
of third party expert presenters.
Maintain expertise of bankers.
Deal efficiently and effectively with legacy assets:
Quickly
reduce
NPAs
through
aggressive
sales,
pool
sales
and/or
isolating
these
assets
in
a
non-
bank (BHC subsidiary) entity.
Capacity determined by initial excess capital position and DTA limits
of Section 382 rules. Realization
of
longer-term
workout
value
of
assets
without
regulatory
“contamination”
of
banking charter.
Maximizes speed of achieving acquisition capacity for banking
charter. |
 26
Shareholder Meeting 6/13/2013
Key Strategies (Continued)
Guiding Principles for Growth
Investment in technology platform:
Treasury services and wealth management platforms need to be
state-of-the-art solutions to attract and serve
targeted customer base. BSA/AML process must be robust across
entire organization. Strong technology necessary to minimize
integration risk of acquisitive growth. FIS/Metavante contract
expires in October 2013; converting to Open Solutions as core
systems provider
Establish and build an effective wealth management business:
Serving the integrated personal and business financial needs of
customer base. Targeted groups include lawyers, accountants,
insurance firms, and other advisory professionals.
Source of diversified, recurring fee revenue.
Plan to use open architecture investment management to maximize
competitive positioning. |
 27
Shareholder Meeting 6/13/2013
Questions? |
 Shareholder Meeting
June 13, 2013
Community Financial Shares, Inc. |