The Community Financial Corporation Announces Completion of County First Bank Acquisition
The Community Financial Corporation (TCFC)
US:NASDAQ Investor Relations:
cbtc.com/about/news-and-events/august-2017/the-community-financial-corporation-announces-it-w
Company Research
Source: GlobeNewswire
WALDORF, Md., Jan. 02, 2018 (GLOBE NEWSWIRE) -- 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). Upon completion of the merger, the former County First Bank shareholders became entitled to receive 0.9543 shares of The Community Financial Corporation common stock and $2.20 in cash for each share of County First Bank common stock they held. The $2.20 of cash consideration includes the $1.00 per share in fixed cash consideration, plus an additional $1.20 per share of cash that represents, on a per share basis, the value of certain County First assets that were resolved prior to closing, which $1.20 amount was originally referred to as the “contingent cash consideration”. “We are very excited that our partnership with County First Bank has come to fruition,” stated William J. Pasenelli, Chief Executive Of
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