Investment Banking - County First Bank

Transactions | Banking

Client: County First Bank
Industry: Banking
Transaction Type: Mergers & Acquisitions
Role: Financial Advisor

  • Headquartered in Waldorf, MD, The Community Financial Corporation (“TCFC”) is the bank holding company for Community Bank of the Chesapeake, a full-service commercial bank with assets over $1.3 billion. Through its main office in Waldorf, MD, 11 branch offices in Bryans Road, Dunkirk, Leonardtown, La Plata, Charlotte Hall, Prince Frederick, Lusby and California, Maryland and Central Park and Fredericksburg, Virginia and with five dedicated commercial lending centers, Community Bank of the Chesapeake offers a broad range of financial products and services to individuals and businesses.
  • County First Bank, (“CUMD”) founded in 1990 and headquartered in La Plata, MD, is a full-service business and retail banking institution. CUMD serves the community throughout Southern Maryland through its five branch locations in La Plata, Waldorf, New Market, Prince Frederick and California, MD. As of June 30, 2017, CUMD total assets were approximately $236 million.
  • As part of the transaction, TCFC will issue 0.9543 shares in exchange for each outstanding share of CUMD plus $1.00 in cash. In addition, CUMD shareholders may also receive up to $2.24 per share based on the resolution of certain identified assets prior to closing.
  • Based on the closing price of the Community Financial Corporation common stock on July 28, 2017, the value of the transaction is approximately $34.3 million excluding any potential contingent cash consideration.
  • Boenning served as exclusive financial advisor and issued a fairness opinion to County First Bank