To an outsider, it might have looked as if Community Financial Group had won the lottery. But bank officials say they were not nearly so lucky.

The Nashville-based bank company added $25 million in capital in the final days of 1998, when investors took advantage of stock warrants that were about to expire. The warrants gave investors until the end of the year to buy Community Financial shares at $12.50, slightly below the market price at the time.

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