Community First Bancshares announced Thursday that it plans to sell its two subprime lending subsidiaries.

Donald R. Mengedoth, president and chief executive officer of the $5.4 billion-asset holding company, said the subprime lenders are profitable, but they are "increasingly incompatible" with the company's community banking focus. "These businesses have not met our expectations for credit quality and earnings," he said in a written statement.

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