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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): June 7, 1999
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)
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ITEM 5. OTHER EVENTS
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On June 7, 1999, the Registrant announced that its Board of
Directors approved the repurchase of up to 50,000 shares of the
Registrant's common stock, $0.01 par value per share, which
represents approximately 2.5% of the shares outstanding. For
further information, reference is made to the Registrant's press
release dated June 7, 1999, which is attached hereto as Exhibit
99, and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS
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 Press Release
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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: June 4, 1999 By: /s/ Wayne H. Benson
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Wayne H. Benson
Chief Executive Officer
NEWS RELEASE
FOR MORE INFORMATION CONTACT
Wayne H. Benson
Chief Executive Officer
FOR IMMEDIATE RELEASE
618-395-8676
COMMUNITY FINANCIAL CORP. ANNOUNCES
STOCK REPURCHASE PROGRAM
Olney, Illinois - June 7, 1999. Community Financial Corp.
(Nasdaq.nms: CFIC) announced today that the Board of Directors
has approved the repurchase of up to 50,000 shares of the
Company's common stock, which represents approximately 2.5% of
the outstanding common stock.
The repurchased shares will be held as treasury stock and will
be available for issuance upon the exercise of stock options and
for other corporate purposes. The repurchase program will be
dependent upon market conditions and the availability of shares,
and there is no guarantee as to the exact number of shares to be
repurchased by the Company.
Mr. Wayne H. Benson, Chief Executive Officer of Community
Financial Corp., stated that the Board of Directors believes
that the Company's common stock provides an attractive
investment, and that the repurchase program will improve
liquidity in the market for the Company's common stock.
The repurchase will be effected through open market purchases,
although the possibility of unsolicited negotiated transactions
or other types of repurchases have not been ruled out.
Community Financial Corp. is the bank holding company for
Community Bank & Trust, American Bank of Illinois, Egyptian
State Bank, Saline County State Bank, and MidAmerica Bank of St.
Clair County.
