Community Financial Announces Scheduled Retirement of P. Douglas Richard, CEO
26 Marzo 2010 - 6:54PM
Community Financial Corporation (Nasdaq:CFFC), a holding company
whose sole subsidiary is Community Bank, Staunton, Virginia, today
announced that P. Douglas Richard, Chief Executive Officer of the
Corporation, would retire effective April 30, 2010, and that Norman
C. "Butch" Smiley, President of Community Bank, would become the
Chief Executive Officer of the Corporation.
Mr. Richard stated: "At age 66 and having served as the Chief
Executive Officer for the past 10 years, it is time to turn this
responsibility over to a younger and very dynamic executive. We
have gone through a very thorough management succession process and
I have every confidence that Mr. Smiley will be a superb CEO and is
the right person to lead this company. Butch has been with
Community Bank since 1996 when he joined the retail lending area.
With his experience in commercial, consumer, and real estate
lending, Butch was promoted to Senior Vice President and Chief
Lending Officer of the Bank in 2000 and in 2008 was promoted to
President of Community Bank. He is a graduate of The
University of Virginia's School of Bank Management, and the Stonier
Graduate School of Banking at Georgetown University."
Dr. James Cooke, Jr., Chairman of the Board of Community
Financial Corporation, stated: "The Board of Directors is extremely
grateful to Mr. Richard for the job he has done in helping this
company continue to grow as a dynamic and successful community
financial institution. We are very pleased that Mr. Richard
will continue in his position as Vice Chairman of the Board of the
Corporation and of Community Bank. His advice and counsel will
be important as we deal with the ever changing banking
landscape."
Mr. Smiley commented: "I appreciate the confidence that Mr.
Richard and the Board of Directors has shown in me. I am
looking forward to meeting the challenges we face and keeping our
company as a leading community bank in Virginia."
Community Bank exceeds all regulatory capital requirements and
is a well capitalized institution. Headquartered in Staunton,
Virginia for over 80 years, the Bank has offices in Waynesboro,
Stuarts Draft, Raphine, Verona, Lexington, Buena Vista and Virginia
Beach.
Except for the historical information in this press release, the
matters discussed may be deemed to be forward-looking statements,
within the meaning of the Private Securities Litigation Reform Act
of 1995, that involve risks and uncertainties, including, but not
limited to, changes in economic conditions in the Company's market
areas, changes in the financial condition or business prospects of
the Company's borrowers, changes in policies by regulatory
agencies, the impact of competitive loan products, loan demand
risks, fluctuations in interest rates and the relationship between
long and short term rates, operating results and other risks
detailed from time to time in the Company's filings with the
Securities and Exchange Commission. Actual strategies and results
in future periods may differ materially from those currently
expected. These forward-looking statements represent the company's
judgment as of the date of this release. The Company disclaims,
however, any intent or obligation to update these forward-looking
statements.
CONTACT: Community Financial Corporation
R. Jerry Giles, Senior Vice President/Chief Financial
Officer
540-886-0796
Grafico Azioni Community Financial Corp. (MM) (NASDAQ:CFFC)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Community Financial Corp. (MM) (NASDAQ:CFFC)
Storico
Da Giu 2023 a Giu 2024