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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):
December 1, 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 December 1, 1997, the Registrant completed its
acquisition of MidAmerica Bank of St. Clair County, an
Illinois-chartered commercial bank with a singe office located in
O'Fallon, Illinois, and with total assets of approximately $19.3
million. The purchase price was cash totaling $5.6 million. For
further information, reference is made to Registrant's press
release dated December 1, 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 December 1, 1997
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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, hereunto duly authorized.
COMMUNITY FINANCIAL CORP.
Date: December 2, 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
FOR IMMEDIATE RELEASE
(618) 395-8676
COMMUNITY FINANCIAL CORP.
COMPLETES ACQUISITION OF MIDAMERICA BANK OF ST. CLAIR COUNTY
Olney, Illinois - December 1, 1997. Community Financial
Corp. (Nasdaq.nms: CFIC), the holding company for Community Bank
& Trust, N.A., American Bank of Illinois in Highland, The
Egyptian State Bank and Saline County State Bank, announced today
that it has completed the transaction pursuant to which Community
Financial Corp. acquired MidAmerica Bank of St. Clair County in
O'Fallon, Illinois for a cash purchase price of $5.6 million and
MidAmerica Bank of St. Clair County became a wholly owned
subsidiary of Community Financial Corp.
MidAmerica Bank of St. Clair County has one office, located
in O'Fallon, Illinois, with total assets of $19.3 million and
will remain a separate bank subsidiary of Community Financial
Corp. All staff members of the bank will be retained to ensure
the high level of service the customers have come to expect.
"Community Financial Corp. is very enthusiastic about its
affiliation with 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, President of MidAmerica Bank of St. Clair
County, said, "We believe that affiliation with Community
Financial Corp. and its other bank subsidiaries will enable us
to enhance our product offerings and better serve our
communities. Community Financial Corp. 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 results in consolidated assets for Community
Financial Corp. of approximately $294.8 million, consolidated
loans of approximately $162.1 million, and consolidated
deposits of approximately $223.0 million based on October 31,
1997 financial information.
Community Financial Corp. is the bank holding company for
Community Bank & Trust, N.A., American Bank of Illinois, The
Egyptian State Bank and Saline County State Bank, serving
Southern Illinois.
