The Community Financial Corporation Reports Operating Results for the Three Months Ended March 31, 2018
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., May 02, 2018 (GLOBE NEWSWIRE) -- The Community Financial Corporation (NASDAQ:TCFC) (the “Company”), the holding company for Community Bank of the Chesapeake (the “Bank”), reported its results of operations for the first quarter ended March 31, 2018. Highlights at and for the three months ended March 31, 2018 (“2018Q1”) include: Three Month Highlights Completed acquisition of $200 million County First Bank (“County First”) on January 1, 2018, increasing the Company’s asset size to just under $1.6 billion. In January 2018, the Company disclosed its intentions to close four of the five acquired County First branches during the second quarter with the La Plata downtown branch remaining open. Gross loans increased 11.3% or $129.6 million from $1,150.0 million at December 31, 2017 (“2017Q4”) to $1,279.7 million at 2018Q1, primarily due to County First. Transaction deposit accounts increased from 59% of deposits at 2017Q4 to 63% of deposits at 2018Q1. Retention of County
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