The Community Financial Corporation the holding company for Community Bank of the Chesapeake announced that Chairman, Michael L. Middleton will retire on June 30, 2020 as Chairman of the Board and as a director of both the Company and the Bank after 40 years of service. The Board has selected Austin J. Slater, Jr., to succeed Mr. Middleton as Chairman on that date. The Board also appointed Austin J. Slater, Jr. as Lead Independent Director of the Bank and Holding Company effective immediately to serve through June 30, 2020. Mr. Slater is the President and CEO of Southern Maryland Electric Cooperative. He most recently served on the Board of Directors of the Federal Reserve Bank of Richmond, Baltimore Branch, and as Secretary-Treasurer and Chair of the Board Finance Committee of the University of Maryland Charles Regional Medical Center.