WALDORF, Md. (Nov. 09, 2017)—The Community Financial Corporation (NASDAQ:TCFC), the holding company for Community Bank of the Chesapeake, announced that it has received the requisite regulatory approvals from the Federal Deposit Insurance Corporation and the Maryland Office of the Commissioner of Financial Regulation to complete the merger of County First Bank, headquartered in La Plata, MD, into Community Bank of the Chesapeake.
The transaction is expected to close early in the first quarter of 2018, and is subject to customary closing conditions, including approval by County First Bank shareholders. Until the transaction closing date, each institution will continue serving customers and daily operations as usual.
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 over $1.3 billion. There are also 10 branch offices in Bryans Road, Dunkirk, Leonardtown, La Plata, Charlotte Hall, Prince Frederick, Lusby, Waldorf and California, Maryland and Fredericksburg, Virginia and five dedicated commercial lending centers. More information about Community Bank of the Chesapeake can be found at www.cbtc.com.