Waldorf, Maryland, January 2, 2018 – The Community Financial Corporation (NASDAQ: TCFC), the holding company for Community Bank of the Chesapeake, today announced that effective January 1, 2018, it has completed its acquisition of County First Bank (County First). The merging of County First Bank into Community Bank of the Chesapeake puts them in a better position to deliver exceptional products and services that exceed the expectations of our customers in the Southern Maryland community.
“We are very excited that our partnership with County First Bank has come to fruition,” stated William J. Pasenelli, Chief Executive Officer of Community Bank of the Chesapeake. “We welcome County First’s customers, shareholders and employees to the Community Bank family and the strength our combined presence brings to the Southern Maryland markets.”
The two banks will continue to operate business as usual. Any branch location changes will be announced in the coming weeks. County First Bank and Community Bank of the Chesapeake will consolidate operations during the weekend of May 4, 2018.
Michael Middleton, Chairman of the Board of The Community Financial Corporation and Community Bank of the Chesapeake added, “We are extremely pleased with this transaction, the addition of a loyal County First customer base and bringing Community Bank of the Chesapeake another source of low cost and stable core deposits. We are also very pleased to welcome E. Lawrence Sanders, III to the boards of directors of The Community Financial Corporation and Community Bank of the Chesapeake.”
ABOUT THE COMMUNITY FINANCIAL CORPORATION
Headquartered in Waldorf, MD, The Community Financial Corporation is the bank holding company for Community Bank of the Chesapeake, a full-service commercial bank with assets of approximately $1.6 billion. Through its branch offices and commercial lending centers, Community Bank of the Chesapeake offers a broad range of financial products and services to individuals and businesses. The Company’s banking centers are located at its main office in Waldorf, Maryland, and branch offices in Waldorf, Bryans Road, Dunkirk, Leonardtown, La Plata, Charlotte Hall, Prince Frederick, Lusby and California, Maryland; and downtown Fredericksburg, Virginia. More information about Community Bank of the Chesapeake can be found at www.cbtc.com.