Exhibit 5
Bass, Berry & Sims plc
Attorneys at Law
A PROFESSIONAL LIMITED LIABILITY COMPANY
315 Deaderick Street, Suite 2700
Nashville, Tennessee 37238-3001
(615) 742-6200
April 28, 2008
Community First, Inc.
501 S. James Campbell Boulevard
Columbia, TN 38401
Re: Registration Statement on Form S-3
Ladies and Gentlemen:
We have acted as your counsel in connection with the preparation of a Registration Statement on Form S-3 (the “Registration Statement”) filed by you with the Securities and Exchange Commission on April 25, 2008, covering 150,000 shares of Common Stock, no par value per share (the “Common Stock”), of Community First, Inc., a Tennessee corporation (the “Company”), to be offered by the Company pursuant to the terms of the Company’s Dividend Reinvestment and Common Stock Purchase Plan (the “Plan”).
In connection with this opinion, we have examined and relied upon such records, documents and other instruments as in our judgment are necessary or appropriate in order to express the opinions hereinafter set forth and have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, and the conformity to original documents of all documents submitted to us as certified or photostatic copies.
Based on the foregoing and such other matters as we have deemed relevant, we are of the opinion that the shares of Common Stock to be offered by the Company, when and as described in the Registration Statement (after the Registration Statement is declared effective) and pursuant to and in accordance with the Plan, will be validly issued, fully paid and nonassessable.
We hereby consent to the reference to our law firm in the Registration Statement under the caption “Legal Opinion” and to the use of this opinion as an exhibit to the Registration Statement.
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| | | Sincerely, |
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| | | /s/ Bass, Berry & Sims PLC |
www.bassberry.com
