SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 6, 1999
COMMUNITY FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its Charter)
Virginia 0-18265 54-1532044
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
38 North Central Avenue, Staunton, Virginia 24401
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (540) 886-0796
N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On December 6, 1999, the Registrant issued the attached press release
announcing that its Board of Directors has authorized the repurchase of up to 5%
of the Company's outstanding stock.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Press Release, December 6, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
COMMUNITY FINANCIAL CORPORATION
Date: December 6, 1999 By: /S/ THOMAS W. WINFREE
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Thomas W. Winfree, President and
Chief Executive Officer
FOR IMMEDIATE RELEASE
December 6, 1999
Contact: Thomas W. Winfree
540-886-0796
COMMUNITY FINANCIAL CORPORATION ANNOUNCES STOCK BUYBACK
Staunton, VA - Community Financial Corporation (NASDAQ: CFFC) announced
today that the Company's Board of Directors has authorized the repurchase of up
to 5% of the Company's outstanding common stock. The company currently has
2,572,146 issued and outstanding shares of common stock.
Repurchases are authorized to be made by the Company from time to time
in open market or privately negotiated transactions during the next several
months as, in the opinion of management, market conditions warrant. The
repurchased shares will be held as un-issued stock and will be available for
general corporate purposes.
"The stock buyback is one of the steps that management is taking to
increase shareholder value," stated Thomas W. Winfree, President and Chief
Executive Officer of the Company. "We believe that this is a prudent use of the
Company's capital."
Community Financial, headquartered in Staunton, Virginia, is the
holding company for Community Bank and had assets in excess of $230 million at
September 30, 1999 and has offices in Staunton, Waynesboro, Stuarts Draft, and
Virginia Beach. Its mortgage-banking subsidiary is headquartered in Richmond,
Virginia.
