The Community Financial Corporation and Community Bank of the Chesapeake announced that James M. Burke succeeds William J. Pasenelli who retired as
as a member of the Board of Directors of each of the Company and the Bank, effective August 31, 2022. Mr. Burke will also continue to serve as President of the Company and the Bank. Effective September 1, 2022, Mr. Burke will also serve as Vice-Chair of the Board of Directors of each of the Company and the Bank. Mr. Burke, age 54, has served as the Company's President, and as a member of the Company's Board of Directors, since February 25, 2021. Mr. Burke has also served as the Bank's President, and as a member of the Bank's Board of Directors, since 2016. Prior to being appointed as President of the Bank, Mr. Burke served as Executive Vice President and Chief Risk Officer of the Bank since 2005.