Affinity Bancshares(AFBI) - 2020 Q3 - Quarterly Report

Explanatory Note Company Formation and Status Affinity Bancshares, Inc. was formed as a stock holding company for Newton Federal Bank, pending conversion, with no current operations or assets; financial data is in Exhibit 99.1 - Affinity Bancshares, Inc. was established to be the stock holding company for Newton Federal Bank following a mutual-to-stock conversion[2] - As of September 30, 2020, the company had not completed its conversion, possessed no assets or liabilities, and had not conducted any business[2] - The quarterly report of Community First Bancshares, Inc., the active holding company, is provided for informational purposes in Exhibit 99.1[2] PART I – FINANCIAL INFORMATION Item 1. Financial Statements Financial statements are not applicable for Affinity Bancshares, Inc. due to its non-operational status, with relevant financial data in Exhibit 99.1 - Financial Statements are not applicable for Affinity Bancshares, Inc. for this period. Readers are directed to the Explanatory Note[4] Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Management's Discussion and Analysis is not applicable as the company is a newly formed entity without operations pending conversion, as noted in the Explanatory Note - Management's Discussion and Analysis (MD&A) is not applicable. Readers are directed to the Explanatory Note[4] Item 3. Quantitative and Qualitative Disclosures About Market Risk Disclosures about market risk are not applicable as the company had no assets, liabilities, or operations during the period, as noted in the Explanatory Note - Disclosures about Market Risk are not applicable. Readers are directed to the Explanatory Note[4] Item 4. Controls and Procedures Management concluded the company's disclosure controls and procedures were effective as of September 30, 2020, with no material changes to internal controls over financial reporting during the quarter - Based on an evaluation as of September 30, 2020, the Company's management, including the CEO and CFO, concluded that disclosure controls and procedures were effective[4] - No changes in the Company's internal controls over financial reporting occurred during the quarter ended September 30, 2020, that materially affected or are likely to materially affect them[5] PART II – OTHER INFORMATION Other Information (Items 1, 1A, 2, 3, 4, 5) Various informational items, including Legal Proceedings, Risk Factors, and Unregistered Sales of Equity Securities, are not applicable due to the company's lack of operations during the period - The following items are not applicable and refer to the Explanatory Note: Legal Proceedings, Risk Factors, Unregistered Sales of Equity Securities and Use of Proceeds, and Defaults Upon Senior Securities[6] - Mine Safety Disclosures are not applicable, and there was no information to report under Item 5 (Other Information)[6] Item 6. Exhibits This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and the Quarterly Report of Community First Bancshares, Inc. (Exhibit 99.1) containing substantive financial data Exhibit List | Exhibit | Description | | :--- | :--- | | 31.1 | Certification of Principal Executive Officer (SOX 302) | | 31.2 | Certification of Principal Financial Officer (SOX 302) | | 32 | Written Statement of CEO and CFO (SOX 906) | | 99.1 | Quarterly Report on Form 10-Q of Community First Bancshares, Inc. for the Quarter Ended September 30, 2020 |