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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 25, 1997
Community Financial Corp.
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(Exact name of registrant as specified in its charter)
Illinois 0-26292 37-1337630
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(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file number) identification no.)
240 E. Chestnut Street, Olney, Illinois 62450-2295
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(618) 395-8676
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Not Applicable
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(Former name or former address, if changed since last report)<PAGE>
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ITEM 5. OTHER EVENTS
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On June 25, 1997, the Registrant announced that it had
signed an agreement to acquire MidAmerica Bank of St. Clair
County, for a cash purchase price currently estimated to be $5.6
million. For further information, reference is made to the
Registrant's press release dated June 25, 1997, which is attached
hereto as Exhibit 99.1, and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
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The following is a list of exhibits filed with this Current
Report on Form 8-K.
Exhibit No. Description
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99.1 Press Release, dated June 25, 1997
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<PAGE> 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, hereunto duly authorized.
COMMUNITY FINANCIAL CORP.
Date: June 30, 1997 By: /s/ Shirley B. Kessler
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Shirley B. Kessler
President
NEWS RELEASE
FOR MORE INFORMATION CONTACT
Shirley B. Kessler
President and
Chief Executive Officer
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FOR IMMEDIATE RELEASE
(618) 395-8676
COMMUNITY FINANCIAL CORP.
TO ACQUIRE MIDAMERICA BANK OF ST. CLAIR COUNTY
Olney, Illinois - June 25, 1997. Community Financial Corp.
(Nasdaq.nms: CFIC), the holding company for Community Bank &
Trust, N.A. and American Bank of Illinois in Highland, and
MidAmerica Bank of St. Clair County, announced today that they
have signed an agreement pursuant to which Community Financial
Corp. will acquire MidAmerica Bank of St. Clair County for a cash
purchase price currently estimated to be $5.6 million.
MidAmerica Bank of St. Clair County has one office, located
in O'Fallon, Illinois, with total assets of $16 million. It is
anticipated that the bank will remain as a separate bank subsid
iary of Community Financial Corp. following the acquisition. Most
of the existing Directors of MidAmerica Bank have agreed to
continue to serve as Directors following the transaction. All
staff members will be retained to ensure the high level of
service the customers have come to expect.
"Community Financial Corp. is very enthusiastic about its
agreement to purchase MidAmerica Bank of St. Clair County,"
stated Shirley B. Kessler, President of Community Financial Corp.
"We are excited about the growth potential this market holds and
the opportunity to offer our existing products to new customers."
Norman Backues, Chairman of MidAmerica Bank of St. Clair
County, said, "We believe that affiliation with Community Finan
cial Corp. will enable us to enhance our product offerings and
better serve our communities. Community Bank & Trust provides
the same kind of personal service that has been the foundation of
our growth. We are confident that our customers will benefit
from this affiliation."
The acquisition would result in consolidated assets for
Community Financial Corp. of approximately $230 million, consoli
dated loans of approximately $143 million and consolidated
deposits of approximately $170 million. The acquisition is
expected to be completed in the fourth quarter of 1997 and is
subject to various conditions, including regulatory approval and
the approval of the shareholders of MidAmerica Bank of St. Clair
County.
Community Financial Corp. is the bank holding company for
Community Bank & Trust, N.A. and American Bank of Illinois in
Highland. Community Bank & Trust, N.A. operates five offices
serving Richland, Coles, Jasper, Lawrence, and Wayne Counties in
Southeastern Illinois, and American Bank of Illinois operates two
offices in Highland and Pocahantas, Illinois.
