<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1) *
Community Financial Corp.
----------------------------------------------------
(Name of Issuer)
Common Stock
----------------------------------------------------
(Title of Class of Securities)
20364V 10 9
--------------------------------------
(CUSIP Number)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of the section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 9 pages
<PAGE>
- ----------------------- --------------------
CUSIP NO. 20364V 10 9 13G Page 2 of 9 Pages
- ----------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: Community Financial Corp. Employee Stock
Ownership Plan
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
37-1344248
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [x]
(b) [_]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Illinois
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER 0
SHARES
------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER 210767
OWNED BY
------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER 0
REPORTING
------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER 210767
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
210767
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.8 %
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
EP
================================================================================
* SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
- --------------------------- ---------------------
CUSIP NO. 20364V 10 9 13G Page 3 of 9 Pages
- --------------------------- ---------------------
================================================================================
1 NAME OF REPORTING PERSON: Michael F. Bauman S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [_]
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER 2,050
SHARES
---------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER 309,687
OWNED BY
---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER 2,050
REPORTING
---------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER 214,467
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
311737
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[_]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.1 %
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
* SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
- ----------------------- --------------------
CUSIP NO. 20364V 10 9 13G Page 4 of 9 Pages
- ----------------------- --------------------
================================================================================
1 NAME OF REPORTING PERSON: Roger A. Charleston
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER 4,900
SHARES
---------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER 323,187
OWNED BY
---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER 4,900
REPORTING
---------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER 227,967
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
328087
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[_]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.7 %
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
* SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
- ----------------------- --------------------
CUSIP NO. 20364V 10 9 13G Page 5 of 9 Pages
- ----------------------- --------------------
================================================================================
1 NAME OF REPORTING PERSON: Brad A. Jones
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [_]
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER 0
SHARES
-------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER 315,887
OWNED BY
-------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER 0
REPORTING
-------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER 220,667
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
315,887
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[_]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.2 %
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
* SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 6 of 9 Pages
Securities and Exchange Commission
Washington, D.C. 20549
Item 1(a) Name of Issuer.
Community Financial Corp.
Item 1(b) Address of Issuer's Principal Executive Offices.
240 E. Chestnut Street
Olney, Illinois 62450-2295
Item 2(a) Name of Person(s) Filing.
Community Financial Corp. Employee Stock Ownership Plan ("ESOP"), and the
following individuals who serve as trustees of the trust established under the
ESOP: Michael F. Bauman, Roger A. Charleston, and Brad A. Jones.
Item 2(b) Address of Principal Business Office.
Same as Item 1(b).
Item 2(c) Citizenship.
See Row 4 of the second part of the cover page provided for each reporting
person.
Item 2(d) Title of Class of Securities.
Common Stock, par value $.01 per share.
Item 2(e) CUSIP Number.
See the upper left corner of the second part of the cover page provided for
each reporting person.
Item 3. Check whether the person filing is a:
(f) [x] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see 13d-1(b)(1)(ii)(F),
(h) [x] Group, in accordance with Rule 13d-1(b)(l)(ii)(H).
Item (a) (b) (c) (d) (e) (g) - not applicable.
<PAGE>
-----------------
Page 7 of 9 Pages
-----------------
Item 4. Ownership.
(a) Amount Beneficially Owned: See Row 9 of the second part of the cover
page provided for each reporting person.
(b) Percent of Class: See Row 11 of the second part of the cover page
provided for each reporting person.
(c) See Rows 5, 6, 7, and 8 of the second part of the cover page provided
for each reporting person.
Item 5. Ownership of Five Percent or Less of A Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following: [_]
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Pursuant to Section 13.7 of the ESOP, Community Financial Corp., acting as
the ESOP Committee, has the power to direct the receipt of dividends on shares
held in the ESOP trust.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
This Schedule 13G is being filed on behalf of the ESOP identified in Item
2(a), filing under the Item 3(f) classification, and by each trustee of the
trust established pursuant to the ESOP, filing under the Item 3(h)
classification. Exhibit A contains a disclosure of the voting and dispositive
powers over shares of the issuer held directly by these entities.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purpose or effect.
<PAGE>
-----------------
Page 8 of 9 Pages
-----------------
SIGNATURE:
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
COMMUNITY FINANCIAL CORP.
EMPLOYEE STOCK OWNERSHIP PLAN
By Its Trustees:
/s/ Michael F. Bauman January 29, 1997
-------------------------------- ----------------
Michael F. Bauman, as Trustee Date
/s/ Roger A. Charleston January 29, 1997
-------------------------------- ----------------
Roger A. Charleston, as Trustee Date
/s/ Brad A. Jones January 29, 1997
-------------------------------- ----------------
Brad A. Jones, as Trustee Date
/s/ Michael F. Bauman January 29, 1997
- ------------------------------------- ----------------
Michael F. Bauman, as an Individual Date
Stockholder
/s/ Roger A. Charleston January 29, 1997
- ------------------------------------- ----------------
Roger A. Charleston, as an Individual Date
Stockholder
/s/ Brad A. Jones January 29, 1997
- ------------------------------------- ----------------
Brad A. Jones, as an Individual Date
Stockholder
<PAGE>
-----------------
Page 9 of 9 Pages
-----------------
Exhibit A
- ---------
Identification of Members of Group
----------------------------------
The trustees of the ESOP hold shares of common stock of the issuer in trust
for the benefit of employees participating in the ESOP. Pursuant to Section
13.6 of the ESOP, (i) the trustees vote common stock allocated to participant
accounts in accordance with instructions by participants, (ii) shares of common
stock of the issuer which have not been allocated and allocated stock for which
no voting direction has been received shall be voted by the trustee in the
manner directed by the issuer, and (iii) if the issuer gives no direction, the
trustees shall vote such shares in their sole discretion. Pursuant to Section
13.3 of the ESOP, the trustees exercise investment direction as directed by the
issuer in its capacity as the ESOP Committee. Overall, the trustees must
exercise voting and dispositive power with respect to the assets held by the
ESOP, including common stock of the issuer, in accordance with the fiduciary
responsibility requirements imposed by Section 404 of the Employee Retirement
Income Security Act of 1974, as amended.
